Very sour. Those are the words that come to mind as we think about XRP. The SEC allegations that triggered sell off in XRP did create some first damage on the long term chart of XRP, and it probably is going to create ‘real damage’ in the weeks and months that follow. Needless to say, our XRP forecast 2021 is close to invalidating. All other points in our crypto predictions for 2021 are still valid, but the one about XRP is about to turn invalid. Our premium crypto members continue to get guidance on XRP as we are taking some decisions as it relates to our top coin list. Moreover, we strongly recommended to rotate into Theta which went up 100% since.
Let’s replay how beautiful, absolutely powerful, XRP was looking prior to the SEC news and subsequent XRP sell off.
Early December, the weekly (long term) XRP chart was an absolute beauty. It was absolutely clear that 0.80 USD was only a first target, and much higher targets would be hit. The first target was 1.50 USD, and almost instantly after we would have expected 2.70 USD to be hit.
That’s what this chart said, and only a miracle could prevent this from happening.
And that’s what we got: a miracle.
But it was wildly bearish one.
What we coined as ‘the most powerful chart ever’ turned into an ugly and frightening setup, only four weeks later.
How on earth the most powerful can invalidate, and turn into an ugly setup, in one month … is beyond anyone’s imagination.
We could not have scripted this. There are no words for this.
But we are not going to complain. Our first XRP recommendation earlier in 2020 was at 0.175 USD, the next one (strong buy) was 0.20 USD and the last one around 0.25 USD.
So our members got the right guidance getting in, and we also recommended to choose for protection a few days ago. As investors, we are not emotional with XRP, with any other coin or any other stock for that matter. An emotional tie with any holding, XRP / coin / stock is going to destroy one’s capital eventually.
Disclosure: Our premium crypto members will get the best possible guidance to maximize profits, and that’s all that matters. All the rest is noise.
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How do you think the SEC actions will impact other cryptos? Might they be next?
It's been crazy reading about Ripple! More like "most delisted" next month.