Where XRP Is At In The Bull Cycle Compared To ETH

My target for XRP is $27 due to the fact that it lines up with the 1.618 Fibonacci retracement level. Since the previous cycle hit the 2.272 retracement level, the 1.618 takes into account diminished returns (1,183x previous cycle vs 241x this cycle) due to XRP having a higher market cap. The green box on the chart, as well as the Elliott waves, shows where I believe XRP is at in its market cycle compared to ETH. The black line shows the bear market resistance and the yellow circle shows the break of said resistance as well as a long-term back testing of it as support before the bull market begins. In both charts, you can see that the first impulse waves' retracement back tests the support line before the next impulse wave beings. The area highlighted in the green box doesn't break the ATH in either chart and is the first sub-wave of wave 3. Therefore, we still need the rest of wave 3 (which should break the ATH) as well as a wave 4 retracement and a final wave 5 parabolic blow off top.


*NOTE*
The Elliott waves on the chart represent the sub-waves of wave 3, not the bull market cycle waves.