Crypto analyst Steph Is Crypto shared an analysis indicating that XRP's bullish market may come to an end. The analysis reflects on timelines and community opinions.
XRP's Bull Market Timeline
On the monthly chart, Steph Is Crypto compared the current XRP cycle with two previous bullish markets. Each of the previous cycles lasted about a year. The first cycle lasted 12 bars (365 days) from early 2017 to early 2018, when XRP reached its previous peak at $3.36. The second bullish market lasted for 13 bars (396 days), culminating in 2021 with a peak price of $1.96. The current cycle on the chart also runs through 13 bars. However, despite a new all-time high of $3.65, XRP has not reached the double-digit targets many anticipated.
Opinions from the XRP Community
In response to the analysis, some users predicted a potential shift in October, challenging the idea that the bullish window has closed. One commenter suggested shifting the current timeline 3 months to the right, extending the bullish cycle. Others also emphasized the importance of flexibility, noting that cycles can shift, and resilience matters more than rigid timelines.
Conclusion and Insights
Steph Is Crypto's analysis leaves open the questions regarding XRP's future. While a bullish cycle may be over, uncertainty in predictions remains. Market participants continue to discuss potential new catalysts that could influence the asset's behavior.
The analysis of XRP's state and discussions among market participants highlight the importance of careful observation of trend changes. The question of whether the bullish market has concluded elicits varying opinions, reflecting the dynamism of the cryptocurrency space.
