XRP POISED TO REACH $5.85 As Price Correction Concludes, Chart Analyst Reports

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Hello this is Matt on the moon Lambo Channel there's an article from the Crypto basic which covers perspective From an xrp chart analyst in this Particular chart analyst believes that We are going to be seeing xrp at $585 uh well I'll get you the specifics But certainly a range and this Particular chart analyst has been Growing quite a bit in popularity Recently now at a point where I think He's getting closer to 100,000 followers On social media platform X and look I Understand that this comes amidst some Not so fun price action for much of the Last 24 hours or so with xrp getting Down as low as 49 cents though I'll tell You at the outside of the video why I Personally just do not care I don't Think that that sort of indication that There's something specifically wrong With xrp uh here's a headline also from The Crypt basic whale moves 50 million Xrp uh from cryptocom amid 3.79% price drop and towards the later Part of the video I do want to touch on This article from the daily hoddle which I found very fascinating titled uh Bitcoin posed to more than double every Year says panta Capital CEO Dan Morhead Now Dan Morehead famously stated just a Few years ago that if you fast forward You know whether it's a decade out some Somewhere around there anyway so you

Know pretty long time frame uh that if You were to look that far out xrp would Be one of the few cryptocurrencies that Would still be around and he's expecting That pretty much everything else goes to Zero and so even if the timeline maybe His timeline's right but even if it's Off The idea behind that uh to me just seems Absolutely correct and I felt this way Since 2017 the vast majority of all the Cryptos out there go to zero and I just Think that they haven't yet because it's It's simply not sufficiently clear to Speculators which cryptocurrencies Deserve to be here if it were Sufficiently clear then a lot of these Coins would have actually gone to zero And and fair enough you know just to Speculate that maybe uh most of them Don't come back maybe that's true but Still they are here you know and it's Something and maybe soci social media is A a big factor for you know just the Fact that there's communities around This it's reasonable surmise that Perhaps that's having some sort of not Notable impact but either way I just say You let this stuff play out most of it Goes the way of the doto which by the Way is a fun fact uh my favorite extinct Aven creature but um but Dan he He's no Fly by Night individual I me he Actually created so again pant Capital

The first that's the first ever uh Crypto hedge fund in the United States Here he's definitely worth listening to And his perspective which he it's just It's it always strikes me just even Keill like he gets the big picture even In times where you know you're in bare Territory or even starting to get out of That and people are not feeling so hot About crypto and people get mad when you Say positive things even in terms of Potential price action xrp $580 get the Hell out of here and then you'll hear Stuff like well can we just wait for it To get a dollar first before we start Talking about $580 and my answer to that Is no because the analyst is is talking About where he thinks it's going to be And there's no sort of requirement nor Should there be that xrp must get to a Dollar before we can talk about it being Higher than a dollar but uh but know I Appreciate the perspective here and also As I've been saying a lot lately if you Care about xrp in terms of price action You should definitely be interested in In about what's going to happen to Bitcoin in terms of price action even if You don't hold it even if you're not Excited about it as I record this video Though xrp is at 50 cents Bitcoins at $27,600 So what I got on screen right now is a Xrp price chart over the last seven days

Just on live coin watch and you can see If you're looking at the screen anyway It it just fell off a cliff the price of Xrp visually it just fell off a cliff And then it's been moving roughly Sideways since then getting as low as 49 Cents but that doesn't mean there's a Problem with xrp most certainly not look At this 7-Day chart for Bitcoin the Price of Bitcoin also fell off a cliff It was over $28,000 and then it cratered on down Getting as low as what 20 7,410 bucks And again it's 27682 as I'm recording This so it fell off xrp filed and it's Been moving sideways since this is not An xrp problem just to be super clear The asset class moves in tandem that's All that it is and so that's why when I See headlines like this one from the Crypt basic talking about 50 million xrp Moving from an exchange amidst this 3.79% price rep I don't want to read the Article I just wanted to make a broader Point because there were some people Speculating might this have had Something to do with it and to me that Doesn't make sense at all at all given That you have perfect correlation for The downward price action for Bitcoin And Xrp and and typically I mean like where Do you think this is going is there any Sort of actual proof that this xrp moved

Somewhere like perhaps to another Exchange and then it actually was sold Well no the proof doesn't exist anyway But it is what it is and so look I am Not one of the people that Say we're not we're not going to talk About higher price xrp until it hit so And so low price like no I just I've Never been like like that and I've seen Those comments so many times and I Understand to some degree I have Sympathy when I see this on social media Because people some people I get it They're just frustrated they wish that Xrp were higher than it is right now but Come on man so here's the headline from The Crypt basic xrp finalizes a Correction from $1.90 poised to hit $580 As five wve structure concludes and um They're covering perspective from dark Defender is the analyst I was citing at The outside of the video now with 94,000 600 followers so his reach growing Tremendously especially recently and I Don't know if he's right I don't know if He's wrong I hope he's right though uh Because xrp is my largest individual Crypto holding but I thought I'd share This perspective because it's Fascinating and so I wrote The Following And this is an xrp USD chart for those Of you looking xrp finalized the Correction after $1.96 and had the wave one at 91 cents

We had completed wave two with a slight Risk to the wh final point of 39 the Price above the weekly ichimoku clouds Is getting closer we will experience how Bullish xrp will be above it and I'll Just pause to note that the uh ichim Moku is my favorite Pokemon man then he Also writes there are two Fibonacci Targets in the short term with wave Three which are $188 so strong and $585 not Financial advice so again That's where he thinks it's going Um and and I've said this you know even Outside of of technical analysis be I Still believe firmly that utility Matters and win the day more money's Going to just get thrown into crypto in The future there's almost like almost no Humans on the planet are in crypto and We we still have a over $1 trillion Asset class it Peak during the last Cycle over $3 trillion almost no Institutional money relatively speaking Is in crypto most of it's on the Sidelines like where do you think this Is going to go which is part of the Reason it's so exciting to be in crypto When almost nobody's paying attention Because and I've said this many times I I firmly believe this at some point you Know trading xrp or investing in xrp or Crypto in general it's going to be as Boring as investing in trading precious Metals gold silver so on and so forth

That that's how boring it's going to be But we are far off from that we are so Far off from this but the more time Passes the more clear it is that this Isn't going anywhere and even the Naysayers they all end up coming around And they're going to have to it is OB Obvious that it's here to stay and so Again as long as xrp continues to be Functionally used to what do you think Happens as more money falls into the Space which is Why even in on days when price goes down I I'm as cheery as can be because I Understand the bigger Picture and it doesn't matter if if it's Not happening on the timeline that I'd Like so what I'm a grown ass man I'm not Going to be pouting about this stuff the Only thing I will up a storm about Sometimes is the fact that the SEC did What they did attacking xrp holders and That did result in xrp being the only Top 10 crypto by market cap uh that last Market cycle in you know 2021 as Everybody was feeling euphoric about Bitcoin well pretty much any coin xrp is The only top 10 crypto by market cap From that point in time that didn't hit A new all-time high now that does burn My biscuits a little bit but it's not Like there's a problem with xrp Specifically so I'm being a grown grown Ass man about it and I'm just going to

Be patient because that's all I can do Is precisely nothing so I do precisely Nothing at least it's easy to do nothing Right so there's that and Dan Morehead Like I said at the outside of the video He's just he's so even keeled on this Stuff I really appreciate his Perspective I think he's he's just one Of the people that gets it he just looks At data comes to conclusions Based on Data for him it's not very hype at all It's it's just not not what he's putting Out anyway it's just data here's his Perspective based on the data and he Just States things in a sort of matter OFA type of way and I appreciate that Because I'm a logic data and reason type Of guy and I I just I think that xrp and Crypto in general it's sufficiently Exciting we don't need the crazy hype Because like even if you consider the Idea of $585 to be for xrp to be hypey Even if you do like I just respectfully Disagree like to me that seems like a Pretty tame Expectation because if if we're talking About xrp actually persisting into the Future and existing if it is one of the Ones that's going to be around that Seems like Nothing right I mean I I know I'm not The only one that thinks this but that's I just I think it's I think it's a big Nothing talking about $585 some like I

Said some people get grumpy heing Positive sounding numbers it just seems Impossible but it always seems Impossible until inevitably one day it Just happens and either you have Exposure to the asset when it happens or You don't but to me it seems like a Virtual certainty and and yes of course I always acknowledge I could be wrong an Xrp could go to zero I know that I could Lose everything this is true I just Don't think that's remotely Probable and uh Dan Morehead doesn't Seem to think so either piece reads as Follows panta Capital CEO Dan Morehead Thinks bitcoin's uninspired price action Over the previous two years has just Been a temporary deviation away from the Top crypto assets larger growth Trend Morehead says in a new interview with CNBC that he expects Bitcoin to resume Its explosive price gain soon and here's A quote from him Bitcoin has a 14year Trend growth of 145% a year that's kind Of my General forecast it'll just Restart uh restart that and every year It'll more than double end quote and Folks that's in a general sense what has Happened so every time after we've had a Bubble form and then pop and then you Know bitcoin's cratered on down along With everything else including xrp you Know a lot of people panic selling at Those moments but it always comes back

Because it obviously should so yes People get exuberant price gets ahead of Itself and you see that but then there Are always new people with each ccle and I consider myself one of these people When I jumped in in 2017 towards the end Of that bubble inflating it was a weird Time for me to happen to have jumped Into crypto but it was in headlines Anywhere so that is what you know Tracked me in uh but there always there Always going to be people like me who Even after the bubble pops like okay got It came in at a weird time but this Thing ain't going away there are people That get it and I'm just one of many not That uh there's something special about Me I'm just making a broader point that There's a certain number of percentage Of people that do jump in and they get It and then they're just they're they Are there they stick around with every Single cycle so you're always going to Have more people jumping in overtime Even after massive pullbacks and so just Because the last just because the last Couple years roughly um haven't been as Fun and exciting it's been pretty Negative with the you know mostly Downward price action um and even for This year while it's it's been broadly Up I mean fair to state that too okay But still we're nowhere near all-time Highs but but even with all of that it's

Very clear that we eventually get out of This stuff it's an inevitability virtual Inevitability as far as I See peace continues Morehead says his View is that the blockchain sector is in The midst of a 20year secular bull Market he predicts that bitcoin's upward Arc will eventually level out when Everyone owns it folks that is something That I've been saying for literally Years and uh it's just just idea and I I Know I said it a few minutes ago too but That's why I was thinking about it Because Eventually uh but everybody's going to Be in xrp they're going to be in Bitcoin Or whatever cryptos are going to have Have staining power and when that Happens when everybody's already in it You're it'll it'll be almost impossible It'll take forever you just get a price To double just to get a 2X but you know given that we're so Early on no we are nowhere near not for Xrp and I do think most of the people That were ever going to achieve life Changing wealth from Bitcoin they They've already achieved that but to get Bitcoin you know to purchase enough Bitcoin to where it's going to be Meaningful you know in terms of changing Someone's life at this point uh I mean If you're talking over like a really Really long time period I I guess it

Could and then it's subjective as to What is considered lifechanging it's Very subjective but I think a lot of People are when they're talking about Life changing well a lot of people are Thinking in the terms of millions and it Seems just obvious to me that the the Coins like xrp that have less money in Them are the most likely to offer that Which is why xrp has always been the Sweet spot for me it's it's just it's a Coin that's been around for over a Decade it's been battle tested uh but Even though it's a large cap coin There's almost no money even in large Cap coins generally speaking uh but you You know you don't have that as much Downside risk as you would with a brand New coin or something that's a small cap Coin perhaps with little or no utility That that to me and there's almost Little liquidity too like good luck with Exit exit liquidity even if a price Jumps up that's why to me The Sweet Spot Has always always been not Bitcoin but Also not the small cap coins to me it's Just been Xrp that's been to me that is the Perfect Sweet Spot um and and so I Understand as more money flows into Crypto large cap coins across the board Will not necessarily continue to be the Sweet spot for those that want Life-changing wealth but I still think

It's the case here in 2023 because There's almost no damn money in it That's pretty much it all right anyway Peace continues in terms of other asset Classes the CEO thinks equities are Currently overvalued real estate is Coming off alltime highs and allocating Money to bonds is is pretty dangerous he Predicts equities will go down for the Next few years and here's a Quote that does leave a couple of asset Classes like real Commodities and Blockchain blockchain is a trillion doll Asset class most institutions have Essentially zero exposure right now they Should dial it up to a couple percent End quote exactly and that is what's Going to happen the more time passes the More institutional money Flows In And Even if you're just talking about one or Two% if you're that ultimately means Trillions of dollars flowing into Crypto so look it's been a 14-year Journey for the asset class all this Type of stuff seems impossible forever Uh well for long periods of time until Inevitably it happens and then it just Goes I just can you imagine a decade From now reflecting on 2023 and then xrp Never hits at least $585 I don't think that's a particularly High bar you know can you imagine that I Mean I guess it's possible like I said But and I'm not making a price

Prediction cuz I don't know what's going To happen but I I'm just saying like if We don't see that I would be very Surprised wouldn't you which is why for Me I'm just going to keep making sure That I do precisely nothing I just want To have the exposure of the AET class And when it goes It goes and if dark Defender right and we hit that perhaps Sooner than later Fantastic but eventually more and more Money flows in and that's just how it Works and it's this the same concept as True with the stock market either you Have exposure when those those moments Happen or you don't and I have made my Choice and we'll see what happens I'm Not a financial adviser you should not Buy your sell anything because of Anything I say or right that would be a Very very very bad idea until next time To the Moon Lambo


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