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Ripple (XRP) has finally found its strongest support in months. The weekly chart for XRP / USD shows Ripple (XRP) bouncing on a historical resistance that runs until June 2017. This is not the only support of the Ripple trend line (XRP) it has found. The graph shows that the previous resistances during the downward trend turned into supports. In this way, the price has also found another support for the trend line (shown in yellow) which further strengthens the prospects for a trend reversal. The bear market seems to be finally over for XRP / USD as the price is now adjusted to its full potential. Just like the previous bear market, we saw Ripple (XRP) form a double fund. Next we will see a price action similar to that between June and November of last year.
This would mean that the price of Ripple (XRP) is likely to recover in the short term, but is unlikely to reach a new all-time high before mid-2019. The price should consolidate until mid-2019, after which aggressive breakout is expected to reach a new all-time high possibly around $ 5. Ripple (XRP) has recently seen a new wave of investors rushing for this, even during the bear market. While most cryptocurrencies are losing the entire business or development teams until the market melt, Ripple (XRP) seems to be the only cryptocurrency that gains from the turbulence. Not only has Ripple (XRP) managed to keep the ground better than most coins, but has also seized the opportunity to organize a coup against Ethereum (ETH). As of now, the difference between the two is more than $ 3 billion, which is unlikely to be filled anytime soon.
If Ripple (XRP) continues to grow at the current rate, it could even challenge Bitcoin (BTC) at some point in the future. The weekly chart for XRP / BTC already shows that Ripple (XRP) is on the verge of a major breakout against Bitcoin (BTC). The cryptocurrency market does not make much sense at the moment. The product of a hash war between two Bitcoin Cash teams, Bitcoin SV is now only one step behind Stellar (XLM) and is already ahead of Bitcoin Cash (BCH). All these developments point to one thing and that is that small altcoins or ICOs are not the only ones in danger. Even large projects like Bitcoin Cash (BCH) may risk breaking down. This awareness has led many investors to rethink their approach to investing in cryptocurrencies.
The best thing about a bear market is that you can clearly see how much a certain project is worth. If Ripple (XRP) can rise to second place during a bear trend, it talks about its future aspects and investor confidence in this project. The average investor with less than 5 Bitcoins (BTC) in total holdings is very unlikely to sell at these levels. Much of the bloodbath that we have seen recently can be attributed to major sales by companies desperately trying to stay afloat or from the likes of Roger Ver or Calvin Ayre who pay for their mistakes. However, Ripple (XRP) has managed to outperform everyone and this matters a lot when the dust settles.
