XRP is known very well for frustrating hodlers by consolidating tightly for long periods of time at yearly lows, which leads to many capitulating, however, veteran XRP community members have been strategically accumulating for years at these low prices and now XRP is heading into its next bull cycle.
Once the global pandemic news hit headlines markets all around the world had crashed about 30% and this caused XRP to get to lows of nearly $0.10 in 2020. It has been a very rough few years for XRP holders, however those who have been strategically accumulating and continuing to persevere have just been rewarded greatly with 3x gains in about a week, and this is just the beginning of the next bull cycle for XRP.
The monthly chart on XRP/USD indicates that much further prices are ahead in the short term.
This is the largest monthly candle since the 2017 bull run
This candle closes in about a week and will be set in stone, so far it has broken many crucial resistances on the weekly and monthly timeframes, which are the most important ones. In a weeks time this candle could surge higher and perhaps even go straight to all time high. This is very reasonable considering XRP has hit all time high volume levels of $33.5 Billion in a 24 hour period which is more than ETH and very close to the volume of bitcoin. Also the XRPL recently had record account creation. More accounts in 24 hours than the previous 18 months.
$3.00 is a very very conservative prediction for the price of XRP. With this next bull cycle $20-$100 is very possible. However, it may take until early 2021 to see these types of prices.
In the year 2020, a $3.00 seems very likely to be on the horizon
Not to mention, Ripple still has yet to release the major Bank of America announcement, which is highly suspected to be ODL usage. With this next bull cycle bringing crazy volumes into the XRPL, this may trigger more banks to use XRP at large scale and become a snowball effect with speculator volume and utility volume which theoretically could lead to $100 XRP
This bull cycle will not be for the weak stomach, there are lots of crashes, dumps, and insane wicks in the middle of these major volatility moves. DO NOT capitulate and HODL.
