No doubt XRP has taken a hit during the 2018-2019 crypto bear market. As bitcoin dominance hits new highs many are declaring the death of altcoins… something that seems like capitulation .
As Baron Rothschild would say, “Buy when there is blood in the streets…”.
Given the trading history of the XRP/BTC pair we can see several descending triangles that signaled key reversals to the upside. The first in December 2017. Currently we see a potential short term bounce to the .00004 BTC level then a potential selloff into Jan 2020. That’s when things get really interesting… a longer term descending triangle completes in late January / early February 2020. That could reverse into a huge rally for XRP to the $4 level if BTC continues its march to $20,000.
Fundamental Catalysts into 2020:
3. Ripple has political access into the 2020 election.
— Brad Garlinghouse (@bgarlinghouse) July 15, 2019
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Source: Coin Savage