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Breaking News: Bitcoin Soars to $21,500 On "Hated Rally," Is There Fuel To Keep Rising?
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Breaking News: Bitcoin Soars to $21,500 On "Hated Rally," Is There Fuel To Keep Rising?
xrp ripple crypto altcoin

Ripple’s XRP Could Be Ready to “Pop Off,” Claims Analyst

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news, Ripple
Reading Time: 3 mins read
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XRP may soon be ready “pop off” and go on one of its “once a year” rallies the asset is known for, according to one cryptocurrency analyst.

The analyst points to the altcoin nearly doubling in value in sats as the most logical target for the surge. Is Ripple finally ready to recoup some lost gains?

Crypto Analyst: XRP Ready For Annual Rally on Bitcoin Trading Pair

XRP has remained locked in the top three cryptocurrencies by market cap alongside Bitcoin and Ethereum throughout the bear market, despite being among the worst-performing crypto assets in the market.

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Related Reading | Ripple Poised to Triple By Q4 2020 After XRP Forms Classic Bottom

The third-ranked cryptocurrency peaked in late 2017, reaching over $3.50 per token before falling by over 95% to a low of just 10 cents this past month as coronavirus fear and panic spilled into financial markets, causing a massive selloff.

After such an incredible, over two-year-long fall from the top, XRP is finally showing signs that it is ready to “pop off” once again, and potentially go on one of the asset’s annual rallies, according to one crypto analyst.

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$XRP Feels like it might pop off for one of those once a year rallies it's known for. Every dog has it's day. pic.twitter.com/5X8ciJhX8R

— ₿ Pentoshi (@Pentosh1) April 8, 2020

Every Dog Has Its Day: Stacking Up Ripple’s Recurring Yearly Rallies

It’s rare that XRP is able to sustain a strong rally. Not only are investors seeking to sell the asset at the first glimmer of recovery after spending more than two years underwater, Ripple executes themselves add selling pressure to the market to fund regular company operations.

But at least once per year, typically coinciding with Ripple’s annual Swell conference, XRP experiences a massive pump.

Dating back to the crypto hype bubble, XRP has at least one per year had a powerful pump.

xrp btc price chart

The first was in the above chart can be seen in late December 2017, propelling Ripple to an all-time high of over $3.50, or 23,000 satoshi on the Bitcoin trading pair.

The next pump took place in 2018, resulting in an explosive 167% return for XRP investors on the XRP/BTC trading pair.

Again in 2019, Ripple had another pump, but only resulting in a 50% return. Each time following the asset reaching its all-time high has resulted in decreasing gains with each annual rally.

Related Reading | XRP May Explode After Major Buy Signal Triggers on Monthly Price Charts 

However, the next major rally could be incredibly explosive now that sell pressure is running out following over two years of downtrend.

When resistance finally breaks, XRP’s first target would be 4000 sats, or roughly a 50% climb, mimicking the performance of the 2019 pump. However, if that target is taken out quickly, more explosive upside could result from over two years of a downtrend.

On average, XRP has rallied 555% between the three rallies, showing just how high the asset could potentially rise if the first 50% target is taken out.

Featured image from Shutterstock
Tags: cryptoRipplexrpXRPBTCXRPUSD
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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