So now that BTC had taken a hit, what does this mean for XRP?
Well, this will entirely depend on BTC, surprise surprise.
If BTC recovers now, and resumes the rally soon, topping out at 200k or more by the end of 2021, so will XRP reach the top a few weeks after the BTC top.
But if BTC needs a longer recovery after this dump, then so will XRP need longer to reach the target prices of a few dozen USD per XRP.
We thus cannot use the old charts any more, the behavior of BTC has changed, and accordingly that of XRP, too.
We now have to watch BTC closely, and see when it will resume the rally. I am convinced it will, and even should it need longer, this is certainly not the end of the bull cycle.
It was just a massive shakeout. The timing is completely off, and BTC does not just do 3x the previous ATH, no chance. It will not settle below 10x the last ATH.