The Ripple XRP megawedge

10 Mar 2023

So XRP did disappoint in the 2021 rally, but in hindsight, as always, one could have expected it. Damn hindsight :)

It appears that XRPUSD is forming a gigantic multiyear mega wedge, similar to the first megawedge of 2013-2017, this would be the second one from 2018-2024, so 2 years longer than the first one.

Of course, the direction of the breakout will depend on:
1. The conclusion of the SEC case

2. The direction which BTC will take


So if SEC resolves well for Ripple AND BTC makes new all time highs in the 2024/25 cycle, then yes, XRP will reach nice valuations of at least 10 USD.

If SEC resolves badly for Ripple AND BTC pumps, expect much lower target prices.

If SEC resolves well for Ripple AND BTC dumps, then also much lower target prices.

Worst case is of course BTC dumps, so no rally in 2024, and they also lose the case. Then expect this mega wedge to break to the downside.

So we can see, it all depends on the SEC case and BTC.

But a buy in if BTC goes to ATH levels in 2024 would make sense, since the risk/reward could pay off well. The worst thing that could happen then, is that it pumps only a little if they lose the case.

So that is the longterm plan for XRP. A really brutal coin, probably by far the most unfun to hodl for long periods of time. But the risk reward in 2024 and later if everything goes well, could be large.

29 Jul 2023

Catatan

I thin we see these two possibilities now:



Depending on what Bitcoin is going to do.
I see the bearish case as a bit more likely, but this will depend entirely on Bitcoin, and thus on the stockmarket and the general macro economic environment.