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Hello this is Matt on the moon Lambo Channel xrp has been on an amazing run The last couple days reaching yesterday As high as 73 cents and at the time that I'm recording this there's been a bit of A pullback but look to be clear even Though yesterday it looked as though xrp Could have just kept on running forever Um it's it's not literally the case that Any asset is going to go up in a Straight line forever not literally Obviously there are pullbacks along the Way and so of course when people say uh It's just going to go up it's it's like There can't be temporary blips on the Rad like obviously there can be some Brief pullbacks here and so what I've Noticed on social media from some people At least I don't know how widespread This sentiment is but from some people There's this concern that this could be An indication this is some sort of false Rally it's not real it's just going to Go back down and I think that that just Speaks to the degree that a lot of People holding xrp for so long and I I Can I understand why I'm sympathetic but I think it just shows that a lot of People really feel feeling beat down Especially what so many of us have had To put up with as xrp holders because of The SEC for years on end and then we've Been in a bare Market uh throughout 2022 And you know things have obviously been
A lot better in 2023 but I understand Where people are coming from but just Let me say this to add a little Perspective like in crypto bull markets Even in Bull markets it's normal to have 30% Pullbacks historically that is normal in Crypto now typically it doesn't mean They're going to be lingering on for 3 4 5 6 months necessarily but to have those Types of pullbacks that's normal and That's not even what we saw you're Talking about xrp getting up to 73 cents Last night and now here we are about 12 Hours or so later and it's 68 cents not Exactly the end of the world not exactly The end of the world so look the fact That xrp Bitcoin and many others are a Bit down um is is from that anyway is Not an indicator that we're now Instantaneously in a bare Market but That's what the sentiment feels like and I'm just saying that it's a silly Thought um and so I'm going to share With you some perspective from a few Chart analysts along with some of my Thoughts along the way but before going Further I do want to be clear I do not Have a financial background of any kind I'm not offering Financial advice and You definitely should not buy or sell Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto
Related topics but just as a hobby and Just for fun okay so to drive home the Point that this is not just some sort of Xrp pullback give you and this just it's It's just one more instance but there Are a lot of these I'm just Cherry-picking this one because it's of Interest to me but what about harar Happens to be one of my larger uh crypto Holdings out there and my fellow xrp YouTuber the bearable bull is obviously A big fan as well he shared the price of Uh of harar reaching over six cents and He wrote last night just 11 hours ago Roughly my second wife is looking juicy Too and so I was happy and excited to See that as well so I reposted that and I noted that at the time harar was up 25% over the last days and at the time I Posted that at that exact moment xrp was Up about 30% over that same time period Of 30 days about 30% and and so har bar it got as high as A little over 6.2 cents and then at the Time I'm recording this it's more like 5.7 cents not not a disastrous drop and Not for xrp either but I say this to Drive the point home that there were all Sorts of alts that were taken off and That's pretty cool right so bitcoin's Been leading the way espe the last Couple weeks with that big burst up and There was even a day where we saw a $5,000 daily candle for Bitcoin
Fantastic right but altcoins have been Going just in a general sense some more Than others obviously and so the fact That a number have pulled back a bit at Roughly the same time over the last 24 Hours it's not surprising or weird or The end of the world at all this doesn't Change what's happening on a macro level Not in the Least and in fact um here is a post from The blockchain backer my fellow xrp YouTuber on September 7th and he was Right here so it's it's 2 months later Now but he knocked us out of the park he Said I believe the Bears are going to Get left behind in Epic fashion and Folks that is what we've seen since them The since then the the Bears have been Proven to be disastrously wrong all Right and and chart analyst txmc Responded to that yesterday and said This was a stone cold call made during a Fear gripped Market when so many people Expected low 20s again so low 20,000 for Bitcoin and that's true and blockchain Backer said nope that's not what's going To happen that's not what's most Probable anyway and so here we are and You know what's cool all of this Incredible price action has occurred Without SEC approval of a spot Bitcoin ETF which will make a material impact Over the long ha as money actually Starts flowing in it's going to be of
Much greater significance than when uh Bitcoin Futures were approved in the United States in 2017 because that Wasn't backed by actual Bitcoin you know Spot Bitcoin ETFs those are just they're Derivatives of Bitcoin but that means That Bitcoin has to actually be held the Supply and demand Dynamics it's hard to Overstate the implications over a Prolonged period of time even over the First 12 months after that hits because I'm telling you investment advisers are Going to be onboarding clients like Freaking crazy and so we'll see exactly What that looks like but that's a real Thing and so it's I'm just saying it's Neat to see all this including xrp and We're not even there yet we're pre that It's going it's going to go ballistic Here and here's perspective from chart Analyst Leb crypto from two days ago and I wanted to highlight this because this Is before most of the true excitement That that's been admittedly very fun and We deserve to enjoy what we've enjoyed The last couple days seeing price go up Absolutely enjoy those moments because They're few and far between but I just Want to bring home this point here like Loveb crypto before this this run really Kicked off like he was he was being Bullish here and he to be fair like he Does acknowledge like if if Bitcoin Collapses which he actually thinks in
Theory could occur you could see a Disastrous action with Bitcoin which Would bring down xrp um okay fair enough But in terms of the potential he still He still sees that his opinion it's Plausible for xrp to exceed $20 and what I'm sharing with you is this temporary Small pullback since last night is not An indication that anything from a macro Scale changed and so two days ago here's What Leb crypto said xrp and my so mind You a couple days ago xrp was at like What 61 cents before it ran up to 73 Cents and he said xrp looking decent Still consolidating the 2017 Mega Bull Run within a symmetrical triangle as Long as 47 cents holds price favors the Bulls anything under 47 cents over the Coming 3 to 6 months would be extremely Bearish resistance at $120 and $2 above $2 xrp can easily 10x to $20 plus And and it's worth noting also here um The blockchain backer was saying Literally yesterday I'm sure some of you Heard him say this that you know in Terms of immediate resistance levels SE I think he said 75 cents I believe That's the first primary when he cite it And that's when xrp was around 73 cents So we're pretty much at it so the fact That we've seen some pullback right There that shouldn't be particularly Surprising anyone and then the other big One that he cited was basically like 83
And a half cents and then at one point He he just rounded up and said 84 cents I thought yeah okay so that's another One to watch but after that it's like All bets are off it's like bull mode at That point so we're you know numerically We're not far away from it we'll see What it takes to actually get to that Point but all that's still on the table Just to be clear nothing literally goes Up at a straight line Forever um and then there's this uh from Chart analyst dark Defender this is an Xrp USD Chart hi all let's have a look at the Smaller time frames such as 4 hour after Reaching 73 cents xrp has had the Corrective action and just checked where It had the support yes 66.4 n which is Key you can see the corrective ABC in The zoomed area it will not last too Long but he will breathe there and so Again and you don't you don't need to be A chart analyst to understand these very Basic concepts and I certainly am not And most people Aren't after a notable runup like we Just saw it's not uncommon for for a you Know an asset to bump up against Resistance and they go then go back down And check a previous resistance level to See if it's now become support so the What he's so his articulation of that Particular instance here and he's saying
You know about 66 cents okay yeah we Should expect this is very easy to Understand so that's good like that's What I'm this is perfectly Reasonable and he's still very bullish And very optimistic and he then said a Very shortterm targets are 87 and $15 xrp is heading towards $188 and $585 afterwards have a sunny day so Again I say this all just to highlight And mind you that was um 2:31 a.m. and In case anyone's interest what time is It uh 8:47 a.m. Tuesday November 7th 2023 8:47 a.m. Central Time uh so this Was you know again just over 6 hours ago So the fact that there's been a slight Pullback hasn't changed his perspective He's been saying this stuff for a long Long time um here's perspective from Chart analyst ereg crypto and he said uh Xrp the 7 to 12% dance xrp targets tend To overshoot by 7 to 12% offering both a Blessing and a curse I discussed this on October 25th check out the screenshot Where I highlighted this Insight the Silver Lining is that this overshooting Occurs during price surges but the Downside is that it also takes place During down Market downturns take a look At my charts for the 65c level where it Overshot by a whopping 12% for a smoother ride in the short Term I believe xrp should retest the Breakout points but don't forget about
That 7 to 12% difference xrp Army stay Steady as we March toward our goals yeah So a fair Fairly similar sentiment there And it's it's good share the perspective I appreciate it and it's it's easy to Understand stuff it's Common Sense stuff Even if you're someone like me who isn't A chart analyst it's easy to Understand it doesn't go up in a Straight line forever so again I say I Wanted to make this video just to share Those types of thoughts because I I Understand how how and why humans have The emotions they have in markets like This because we're talking about the Most volatile acid class that our Species has ever seen right it truly is It truly is and this is what we're Living through so I get it how it can Just twist people up and it can shake People out I get people get washed out Because of this because of the nature of Crypto CP markets and so my message here Is although I don't know what the price Action is going to look like and I don't Make price predictions I'm just Delivering a broader message that this Type of volatility historically is Completely normal so if you're getting Hit in the feel feels uh do you think That makes logical sense or are you just Being a normal human because that is a Normal human thing I'm the weirdo I'm The weird human that doesn't get hit by
This stuff so I don't know if you want You can just be weird with me I guess And just not let not get hit in the feel Feels when when when the stuff happens Because it's gonna keep happening like If if you think if you're having a hard Time now I just I just got to Respectfully say good luck when xer hits A new alltime high in interest price Discovery because it's going to be Volatile AF there will be major Pullbacks to and some of them you'll be Wondering oh was that the top is the top In and then it'll whip around and start Blazing on up to the upside because There will be pullbacks like that so if You're having trouble with this good Luck when you're talking about sways of Like 50 cents or a dollar or whatever it Ends up being cuz that's going to be in Our future that's what I believe but you Know what honestly all things considered That' be a fun problem to have I'm not a Financial adviser you should not buy Yourself anything because of anything I Say or right that would be a very very Very bad idea until next time to the Moon Lambo