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XRP Macro Charts Signal Explosive Bull Surge Amid SEC Appeal
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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

XRP Macro Charts Signal Explosive Bullish Move Despite SEC Appeal: Analyst

Jake Simmons
Jake Simmons
8 months ago
3 mins read
XRP price news

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In a technical analysis shared with his followers on X, crypto analyst Bobby A (@Bobby_1111888) provides a bullish prediction for XRP despite the US Securities and Exchange Commission’s decision to appeal the ruling in its case against Ripple Labs. Amid the regulatory turmoil, Bobby’s interpretation of the macro charts suggests a bullish outlook for XRP, contradicting the potential bearish sentiment stirred by the SEC’s latest legal maneuver.

Bobby contrasts the immediate market reactions typically triggered by high-profile legal news with the actual long-term trends observed in asset prices. “Many forget that, even amid news of the SEC lawsuit in 2020, the asset appreciated from $0.11 to $1.95,” he points out.

XRP Monthly Charts Still Look Bullish

The analyst highlights that XRP has been trading for the past nearly seven years in a consistent sideways consolidation which he describes as a “macro base.” According to Bobby, this extended period of consolidation is crucial for understanding the potential for upward movement.

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“The monthly timeframe shows that post the Bitcoin Halving, during every cyclical rotation of the momentum oscillators, the asset [XRP] experiences rapid price appreciation, which could initiate at any moment. This happened in 2017 and 2020,” Bobby further explains.

An argument of Bobby’s analysis focuses on the monthly Bollinger Bands of the XRP/USD chart, an indicator used to measure market volatility and identify potential price targets based on previous market behavior. “Much like during 2016, the price is tightly wound around all essential higher timeframe moving averages, including the median line of the monthly Bollinger Bands,” the analyst writes.

He adds, “While we are on the topic of the Bollinger Bands, they are the tightest they have ever been in the coin’s history,” he notes. This tightness suggests that XRP is at a pivotal point where any increase in volatility could lead to a substantial price movement.

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Crypto Analyst Maintains $7.50 XRP Target Despite SEC Appeal Against Ripple

8 months ago

Notably, Bobby’s take profit zone lies between the 1.618 Fibonacci extension level at $5.31 and 4.236 Fibonacci extension level at $13.72. Thus, Bobby’s expected return for this bull run is between a whopping 950% to 2,600%.

XRP/USD chart, 1-month
XRP/USD chart, 1-month | Source: X @Bobby_1111888

Bobby theorizes that the initial movements when volatility returns might be deceptive, potentially designed to mislead market participants about the true direction of the price. He draws parallels to Bitcoin’s unexpected rally in March 2020, suggesting that XRP could experience a similar deceptive yet ultimately bullish breakout.

“The XRPETH and XRPBTC charts do not look like this is the start of a long, drawn-out bear market but, instead, possible capitulation at deep value areas. Remember that the worst news comes at the bottom and the best news at the top,” Bobby added.

XRP/BTC chart, 1-month
XRP/BTC chart, 1-month | Source: X @Bobby_1111888

The upcoming US presidential election could also play a critical role in shaping the regulatory landscape affecting cryptocurrencies like XRP. Bobby speculates about the possible outcomes: “Should Donald Trump be re-elected as president, I cannot see any situation where Gary Gensler remains chair of the SEC.” He argues that a change in the SEC’s leadership could relax the regulatory scrutiny over Ripple and, by extension, XRP, fostering a more favorable market environment.

In his closing remarks, Bobby reiterates his strong conviction in the bullish thesis for XRP. “No one ever said this would be easy, and investing never is,” he reflects, encouraging his audience to adopt a strategic, long-term view of their investment in XRP.

At press time, XRP price stood at $0.52.

XRP price
XRP price retests the trend line breakout, 1-week chart | Source: XRPUSDT on TradingView.com
Featured image created with DALL.E, chart from TradingView.com
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Jake Simmons
Jake Simmons

Jake Simmons

Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with NewsBTC.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field.

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His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone.
With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake’s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage.

Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control.

For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality.

As a journalist, Jake’s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies.

In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it’s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake’s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time.

You can engage with his latest takes on Twitter: @realJakeSimmons.

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Reason to trust

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