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Why Ripple's XRP is about to collapse

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by COINS NEWS 9 Views

Why Ripple's XRP is about to collapse

I've been a huge bull on XRP for many years but I have sold most of my tokens and I plan to sell the rest very soon. XRP is clearly in a bear market. They even released good news at the top to suck people in such as the numerous ETFs (all of these were great days to sell!). Same with the lawsuit ending. People thought it would pump their bags but markets are forward-looking and all of this was priced in as soon as Trump won. It's not a coincidence that the lawsuit officially ended in August while the price of XRP was at $3.20, up against multi-year resistance. Market are designed to punish the herd. Good news usually marks major tops. Like when Judge Torres ruled in favour of XRP in July 2023...that was the top and people who bought into that got punished extremely hard - not a coincidence.

From a TA perspective, XRP is doing exactly what Cardano did in 2021:

In 2021, Cardano established a 450 day range at its previous 2018 ATH before collapsing.

In 2024, XRP began consolidating around its 2018 ATH for about 430 days. It is nearly identical to Cardano's 2021 consolidation. XRP is on the verge of collapsing. Investors should at least consider pulling out their initial investment. Personally, I have sold 70% and will sell the rest probably in the next few days.

submitted by /u/XRP_SPARTAN
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