It has been over 1,700 days since the last time that XRP reached a new all time high, this may sound incredibly discouraging until you realize that XRP has just done something absolutely historical on the XRP/BTC trading pair & around a year ago XRP made a very close attempt of breaking the previous all time high. Most investors will be focused on the XRP/USD trading pair (to calculate exactly what their holdings are worth) however investors need to realize that Bitcoin is the controller/motivator of the entire cryptocurrency market and this is why its necessary to focus on this latest development on the XRP/BTC chart.
This amazing discovery comes from @HaraldoXRP who is a long time technical analyst in the XRP community and even predicted that XRP was going to up much further when it initially broke $1.00 per coin in 2017. He does not post technical analysis very often, however when he does it is very significant and is important to note.
See how this 5 year long resistance trendline on the XRP/BTC weekly chart (log scale) has finally been broken after years of beating down the XRP price and preventing it from moving up any further.
This could quite literally be the spark that sets the flame. Note how on 10 separate occasions this trendline held the power to stop the force of the XRP buyers and forced the price down.
Now this trendline has been fully broken and in exactly 31 minutes at the time of this article being written, the weekly candle will close for the first time in 5 years, above this incredibly strong trendline resistance on the XRP/BTC chart. Marking a historical moment on the XRP charts that will allow us to finally depart from the hands of the 0.30 XRP range and break the $3.30 all time high levels.
Maybe XRP needs a little push to fully breakthrough this trendline? Good thing the Ripple V SEC lawsuit is looking like it is near the very end, considering the latest news about Ripple filing a public motion for summary judgement, and requesting the judge to support Ripple in their mission to strictly focus on the law in this case, and not the opinion of the over-reaching securities and exchange commission.
The post XRP: The Birth Of A New Historical Cycle, $20.00 Targets appeared first on The XRP Daily.