#Ripple (#XRP) Is About To Begin A New Cycle, But Can It Make Similar Gains?
Ripple (XRP) is about to begin a new trend. The weekly chart for XRP/USD shows that this could be as soon as next week when Ripple (XRP) forms a new candle outside the bullish gartley formation on the XRP/USD chart. Volume price confirmation indicator for XRP/USD shows the new trend has already started. MACD diagram for the above chart shows that the correction has run its course and Ripple (XRP) is ready to begin a new trend from here. Volume has also been declining steadily and has now reached a point where a break out is expected.
The question is not whether Ripple (XRP) will begin a new trend anytime soon. The chart shows quite clearly that Ripple (XRP) has found a bottom and that a new trend is about to begin. The real question is whether Ripple (XRP) will be able to make similar gains as it has in the past. This question has become even more importantly in light of a recent statement from Satis Group which stated that Bitcoin (BTC) is going to $96,000 and Ripple (XRP) is going to $0.01 by 2023. In all fairness, that is quite a bold pronouncement and it is too premature to say which cryptocurrency is going where by 2023. As long as XRP has a use case, its price is likely to appreciate. Ripple (XRP) capitalized on the idea of dominating the forex market which drove the price of XRP to astronomical levels. After that, the price had an equally aggressive correction. This is why, currently, Ripple (XRP) appears to be one of the best cryptocurrency investments from a risk/reward standpoint. However, the question as to whether Ripple (XRP) will be able to make similar gains still remains unanswered.
