Wednesday, May 5, 2021

Analyst: Based On Fib Extensions, If This Bull Cycle Is Like 2013, XRP Would Set New High between $10 & $14

A pseudonymous analyst has some hours ago caught the attention of the members of the crypto community with a bullish price prediction for the embattled cryptocurrency, XRP.

According to the crypto analyst identified on Twitter as XRPatience, if XRP price action plays out like that of 2013, XRP will set a new all-time high between $10 and $14 before the end of this bull cycle. He added that there are more reasons to believe that XRP will surge much higher.

Read Also: XRP Investors Launch New Petition to Make Gary Gensler Drop Ripple-SEC Lawsuit

XRPatience tweeted, “If this bull cycle is like 2013, then we can expect XRP to set a new high between $10 – $14 (based on fib extensions) before the next bear market ensues. But there’s reason to believe it will go much higher. How high?”

Similarly, the analyst pointed out that if this bull cycle has two alt seasons like 2017, XRP will get its full fib extension that will send its price to around $60 before the end of this bull cycle.

Read Also: Brad Garlinghouse Says Ripple Could Replace XRP in the United States

XRPatience wrote, “If this bull cycle is like 2017 (with 2 alt seasons) and XRP gets its full fib extension, that puts the price close to $60 at end of cycle.”

In conclusion, the XRP investor said:

“But based on this cycle’s long time between retests of major moving averages plus the fact that 2017 was a longer cycle than 2013, I expect 3 alt seasons this cycle. That would put us at Kevin Dixon’s projected target of around $120.

“To cover all bases I have price targets set at $10, $50 and $100 for my sells. Even hitting the first target sets me up for life, but I expect to hit the 2nd target and possibly the 3rd (if this cycle lasts as long as I believe it will).

Read Also: Analyst: Bitcoin (BTC) Is Primed For a Major Correction; XRP Heading Towards New Price Range

“While it would be great to sell almost all my XRP @ $100, I won’t risk those targets not getting hit and me losing everything and missing out on retirement. That’s why I’m selling along the way. Not financial advice. You do you.”

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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