- XRP reflects its last cycle, in which consolidation caused an outbreak of 70%.
- Will greed crash FOMO again for fast profits?
Ripple’s[XRP] The consolidation of the past led to a huge rally to $ 3.40 when billions flocked into his ledger. With XRP that is now stable between $ 2.30 and $ 2.50, could patience be the key to even greater efficiency?
Greed or fear: the critical choice that lies for us
XRP has fallen 30% compared to the peak of $ 3.40, with sale command Dominating the eternal market and leverage on an annual low.
Futures traders leave positions despite Ripple who never touches an overheated state – the proof that greed took over, where investors quickly chase profit instead of hodling for larger returns.
Fast-Forward Until now, XRP is stuck for five days in a tight range-one setup that led to consolidation in the last cycle before a huge outbreak of 70%.
Source: TradingView (XRP/USDT)
If history repeats itself, XRP can prepare for a similar rally, which may push it to $ 4.25 before the first quarter ends. But will greed for fast profits again the fear of the lack of suppressing?
With a jump of 4.80% in the last 24 hours, signs of renewed FOMO crawl into, fed by “market-wide” optimism as the crypto-market capitalization 2.35% rises, which reduces the level at the beginning of February.
Now that Bitcoin Dominance is still holding strong, is Ripple’s repetition of his 70% outbreak still out of reach?
Most important conditions XRP must meet
In the last cycle, the outbreak of XRP beyond $ 3 was no coincidence. It was fed by whales that strategically accumulate and since November for $ 4 billion in XRP in their portfolios in their portfolios.
In the meantime, the XRP/BTC pair became its annual high when capital flocked into Ripple, powered by Retail Fomo. From the graph below, Ripple can set up for a new explosive increase.
Source: Santiment
Just last week, Wallets achieved another 550 million tokens with 10 m – 1b XRP, which stimulated their participations by 5.55%. The result? It led to a price jump of 3.09% the next day.
Realistic or not, here is the XRP market capitalization in the conditions of BTC
Déjà vu? The XRP/BTC pair signals a similar arrangement, squeeze Short-sellers and lay the foundation for an outbreak.
If this trend, despite the market volatility, is a rally of 70% to $ 4.25 may not be far away – making Hodling Ripple the game to watch.
Credit : ambcrypto.com
