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Ripple (XRP) is following exactly the same fractal formed in 2017. The similarities were visible from the beginning of September, but now the big picture is clear without any doubt. Ripple (XRP) has already completed the Oval and Circle phases of the fractal. It is about to enter the triangular phase from which it should exit at the beginning of 2019 to reach a new historical maximum. Considering that 2018 was a heavy bear market and the sentiment will take time to recover, it would be very impressive for Ripple (XRP) to reach a new record soon. That said, we have indicated a mini season altcoin in some of our previous analyzes.
It is still unclear whether any of the other cryptocurrencies might be able to reach a new historical high at the start of 2019, but as far as Ripple (XRP) is concerned, the overall picture is clear. Considering that Ripple (XRP) has done a good job respecting the wishes of the investors and has obtained better performances than the rest of the market, it can be expected that Ripple (XRP) can continue to trade in the same way again. The RSI on the daily chart for XRP / USD is currently in oversold territory and is now intended for an inversion. This would be an ideal point for the inclusion of long positions since the risk / return is now very low. Volume is starting to return to the market and trading activity is increasing. Ripple (XRP) has already found a great interest that has led to replace Ethereum (ETH) as the second currency by market capitalization.
If Ripple (XRP) continues to rise at the current rate, we can expect it to continue to remain the second largest currency by market capitalization. This has more to do with investors losing interest in Ethereum (ETH) than a growing interest in Ripple (XRP). It also makes Ripple (XRP) a unique positioning advantage by making it a direct competitor Bitcoin (BTC). Ripple fans (XRP) do not have beef with Ethereum (ETH) or other coins. They continue to attack Bitcoin (BTC) by calling it old, slow and obsolete. A lot of enthusiastic Ripple (XRP) have become investors of Ripple (XRP) just because they believe that Ripple (XRP) can eventually take control of Bitcoin (BTC), not necessarily in terms of market cap but in terms of usability and adoption. Given that Ripple (XRP) is currently much faster, cheaper and more efficient than Bitcoin (BTC), it seems quite possible.
Chart for XRP / BTC (1D)
There is no doubt that the purpose of Bitcoin (BTC) was not to solve problems of cost, speed or efficiency of transactions. The only reason for its beginning was to give people the freedom to be responsible for their finances instead of having to trust a government or a bank blindly. However, soon after the birth of Bitcoin (BTC), many people have realized that cryptocurrencies can also be used to solve other problems. The Ripple team (XRP) used it to solve the main banking problems. Sending money back and forth across borders was expensive, time-consuming and inefficient before Ripple (XRP) was created. Ripple (XRP) may not be able to do what Bitcoin (BTC) was originally created to do but is making a major breakthrough in the banking sector by solving a trillion dollar problem.
