What Awaits XRP Investors By 2023?

There is a fierce debate in the area of ​​Bitcoin and cryptocurrencies. As it is known, a new bull cycle comes up every four years. However, this time, Bitcoin cycles are claimed to be prolonged, as the effect of the halving did not pass as in previous years.

As the leading cryptocurrency moves forward with the past cycle, XRP may shed light on how a future cycle might turn out.

XRP has long lagged behind other cryptocurrencies for many times, so perhaps it may not be considered the best indicator of what could happen to Bitcoin and other currencies. However, a long-term round bottom marking new peaks in the cryptocurrency market may be forming by 2023.

This also potentially confirms that, contrary to what is expected in most currencies, a new ATH will not be seen soon.

XRP investors who only watch daily time frames may be ignoring the head and shoulders formation for a higher time frame that requires more patience. The weekly chart also expects to potentially complete another right shoulder in the larger, inverted head and shoulders pattern that started with the breakdown of support from mid-2019.

It took about six months for the cryptocurrency, which collapsed with Black Thursday, to return to its February high. As can be seen in the chart below, the larger, higher time frame inverted head and shoulders pattern indicates that the bear market dominates the price action and does not indicate the new all-time highs.