Cryptocurrencies are all over the place nowadays. All major financial media have ‘discovered’ cryptocurrencies. While they were fast to call out the end of a bubble in September, when the last major correction took place, they hasten to explain now why cryptocurrencies have such a great future. InvestingHaven is for many months calling for a mega breakout in the price of Ripple, and this week was the moment we were proven to be right once again. We are on record to call for Ripple’s price to continue to rise, here is why.
Before doing so we would like to call out that almost 5 months ago we did this Ripple price forecast: Why The Price Of Ripple Will Rise Above 0.50 USD In 2017. It was the only cryptocurrency price forecast which did not materialize this year.
Ripple’s recent price rise is a mega-breakout
A couple of weeks ago we described in this piece a Must Read Ripple Price Prediction how exactly Ripple was building momentum, and how it would break out. We essentially looked at market dynamics and trading patterns, purely based on the chart, to understand what’s happening in Ripple and how things would play out.
This is what we said:
When considered relative to other altcoins, Ripple has not gone up in a significant fashion since May 2017, whereas other altcoins did. This resulted in profit taking as soon as there is a small spike and the most notable outcome is heavy selling among Ripple holders in general. Once all selling is exhausted it sets the stage for a very strong bullish move.
Moreover, we continued to indicate why Ripple’s chart looked awesome, purely based on price patterns. Both in Why Ripple’s Chart Continues to Look Awesome and in Ripple Price Very Close To Mega Breakout we identified a consistent pattern of higher lows which, in plain simple terms, means that weak hands are leaving the market at increasingly higher prices.
That is a great recipe for a mega breakout which materialized this week.
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