Brief Summary
This video discusses a potential oversized "W" pattern on XRP's long-term chart, suggesting a possible 20x gain. It explores historical price movements, potential targets based on EGRAG Crypto's analysis, and the importance of profit-taking strategies. The video also touches on avoiding paralysis by analysis, the psychology behind the "W" pattern, and key market indicators, while emphasising risk management and disciplined trading.
- Potential 20x gain from oversized "W" pattern on XRP chart.
- Importance of profit-taking and avoiding greed.
- Key market indicators and risk management strategies.
Oversized XRP W Could 20x Gains
The video introduces the idea of a large "W" pattern on XRP's long-term chart, suggesting it could lead to significant gains. It poses the question of whether missing this pattern has prevented many from achieving substantial profits. The speaker sets the scene by describing their late-night chart analysis, hinting at the potential discovery of a major opportunity.
Spotting the Giant W at 2 a.m.
The speaker recounts analysing charts late at night and noticing a large "W" pattern, which they describe as the "Godzilla of W's" due to its seven-year span. This pattern sparks excitement and the possibility that it could be a roadmap to XRP's next significant price surge.
2018 $3.80 Peak to Crash
The video revisits XRP's price history, starting with its peak around $3.80 in January 2018, a time of high market optimism. It then contrasts this with the market crash in March 2020, during which XRP fell to a low of around 10 cents. The speaker recalls buying XRP at this low, marking the first pit of the "W" pattern.
March 2020 Ten-Cent Bottom
The narrative continues by describing XRP's recovery to $1.96 by April 2021. However, this rise was followed by another downturn due to the Terra implosion, which caused XRP to plunge to around 29 cents. This event marked the second pit of the "W" pattern.
Terra Implosion Creates Second Dip
The video highlights a surge in late 2024 that propelled XRP across the centre line of the "W" pattern. This breakout faced resistance at $3.40 in January 2025, leading to a period of sideways movement around $2.20. This price action raised questions about the validity of the breakout.
2024 Breakout & $3.40 Wall
The speaker introduces EGRAG Crypto, whose analysis points to potential targets of $15, $22, and $40 based on the "W" pattern. These targets represent significant percentage increases from the current price. However, the speaker emphasises the importance of taking profits early rather than aiming for the absolute top.
EGRAG’s $15-$40 Moon Targets
The video stresses the importance of scaling out of positions and taking profits, suggesting a range of $6 to $7 as a potential area to start. It uses an analogy of selling a collectible sneaker to illustrate the wisdom of securing gains rather than holding out for an unrealistic price.
Profit-Taking at $6–$7 Explained
The speaker addresses the issue of paralysis by analysis, where traders get bogged down in endless information and fail to act. They argue that recognising patterns like the "W" can provide a roadmap, but fundamentals and market sentiment are also crucial. Diversifying one's information sources is presented as a solution.
Ending Paralysis by Analysis
The video promotes a free educational Discord server as a resource for traders to share information and ask questions. It describes the server as a "Hogwarts dining hall for crypto nerds."
Free Educational Discord Invite
The speaker shares some statistics, noting that XRP has been consolidating between $2 and $2.30 for about 120 days. Dips below $2 have been quickly bought up, suggesting strong support. The Relative Strength Index (RSI) on the monthly timeframe is also showing signs of recovery.
RSI Jump & Whale Breadcrumbs
The video explains the psychology behind the "W" pattern, stating that it signals failed attempts by sellers to break a support level. Buyers then push the price above the midpoint, triggering a rally. This is likened to toddlers using a seesaw to launch toys.
Psychology Behind the W Pattern
The speaker outlines potential phases of a future price surge. These include a retest of $2.20, a breakout above $3.40, a surge to previous all-time highs around $3.80, and price discovery above $5, with a potential skimming point around $6 to $7.
Roadmap to Price Discovery
The speaker shares a personal anecdote about holding a mid-cap altcoin for too long, only to see the market crash and wipe out their gains. This experience taught them the importance of selling and taking profits. They reiterate EGRAG's advice to scale out of positions and use limit orders.
My 80% Loss Cautionary Tale
The video includes a shout-out to Kraken exchange, noting its deep liquidity and user interface. The speaker discloses that the Kraken link in the description is an affiliate link. They also provide wider market context, noting Bitcoin dominance has slipped and Ethereum gas fees remain high, making remittance-focused tokens like XRP attractive. A key statistic is that 65% of XRP supply is held in wallets for longer than 12 months, tightening the float. The speaker also discusses risks such as regulation, liquidity drying up, and the "W" pattern potentially turning into an "M" pattern. The video concludes by urging viewers to act before the hype, guided by strategy and common sense, and emphasises the importance of discipline.
