XRP: “THEN… THE GLORY CAME” -The Blockchain Backer

XRP: “THEN… THE GLORY CAME” -The Blockchain Backer

hello this is Matt on the moon Lambo
channel it’s another bloody day in
crypto but if you want to feel good
about xrp then you have definitely come
to the right place because I have
nothing but positive things to report as
Bitcoin has been bleeding out throughout
the day um xrp actually not so much xrp
is actually up on the day and up
substantially against Bitcoin over the
last 24 hours I’m going to share with
you perspective from several xrp chart
analysts and I’ll be starting with a uh
a post that I’m sure many of you have
seen by now if you’re on social media
platform X I’m going to highlight it for
you first uh he shared a post about xrp
talking about when the glory came for
xrp
specifically from a historical
perspective and xrp is at a moment in
time that it has actually only been at
by this particular by this particular
metric one other time in
history that’s where we’re at right now
and we’re in a bull market despite the
pullback pullbacks happen this is this
is normal for bull markets this is my
third bull market in crypto you get
massive ones in fact these ones are
rather shallow compared to what I’ve
become accustomed to in previous bull
cycles this is nothing these are like
little baby little baby meltdowns
basically what is this a pullback for
ants but before going further I do want
to be clear I do not have a financial
backround of any kind I am not offering
Financial advice and uh you definitely
uh should not buy or sell anything
because of anything I say or right I’m
just uh an Enthusiast who enjoys making
YouTube videos about crypto related
topics but just as a hobby and just for
fun at the time I’m recording this it is
5:09 p.m. central Time
Wednesday uh oh it’s May that’s right
it’s may now May 1st man time’s flying
May 1st
2024 xrp is
51.4 Bitcoin right at
$58,000 market cap for the asset class
down to$
2.19 trillion that’s quite a die from uh
compared to you know several weeks or so
ago crypto in greed Index this is
notable 54 out of
100 uh this is the so we’re now in
neutral we’re no longer in greed as
which is good to like you want to see
that you want to see the weak hands get
shaken out and we’re at these levels and
so many weak hands have already been
shaken out and um I don’t know for sure
if this is the bottom or not that’s not
the point of me saying that but you do
want to see that typically so the fact
that we’re at 54 out of 100 which is the
lowest I’ve seen and I don’t even know
how long when was the last time we saw
54 or lower on the crypto fear and greed
index was it months ago I know that a
month ago we got as low as 57 I was
looking at that I didn’t go back all the
way back but if you go back to like
April 18th but that was still uh that
was still technically
greed
so just we’ll see what happens here
folks it is not the end though this is
this is not what uh what it looks like
when a bull market is coming to an end
here’s a post from my fellow xrp
YouTuber the blockchain backer and this
is showing the total crypto market cap
so every everything included in in the
market cap including Bitcoin all the
altcoins uh priced against xrp
specifically that’s what’s on your
screen right here and then he wrote The
Following this morning want a little xrp
hopium sentiment rough right well it
makes sense the rest of the market has
never been more overvalued versus the
xrp price throughout all of history
except once then dot dot dot the glory
came and I love this post and it kind of
sums up a lot of the stuff that we’ve
been talking about as a community I’ve
certainly been talking about on this
channel because what has been happening
it’s not that xrp has been performing
poorly against the dollar if you just
look at it in a vacuum xrp price has
against the dollar has been increasing
uh steadily for almost two years at this
point the low was at 28 cents in June
2022 it’s it’s almost two whole years at
this point but then when you consider
all of the other coins like obviously uh
salana caught a lot of people by
surprise uh people had written it off it
was going to zero just like people have
written off xrp now it’s going to zero
which is a bunch of nonsense and then
salana comes blazing From the Ashes
rising up and then uh a bunch of other
coins moving up in a greater velocity
and as a result although xrp has
improved against the dollar
unquestionably it has by a fair bit in a
vacuum anyway when you take into
consideration the growth of everything
else it it doesn’t look good for xrp
which is why when you take the entire
crypto market cap look at how it’s just
been moving up for all of this time well
here’s where we are on the right this is
where we are um so in recent times you
can look at call it to like what you
know halfway to Midway or well say
halfway to you know maybe three qus of
the way through 2023 look at what
happened for the entire crypto market
and then priced against xrp that’s bad
for xrp good for everything else that’s
what that
means now he highlighted this little
yellow band and for you can see if
you’re looking at the screen you know
exactly what I’m talking about you
probably know what I’m highlighting next
which is this circle right here in the
beginning part of
2017 so you can see there was only one
other moment where where the total
market cap priced against xrp hit that
yellow band and that was before the
first rally of xrp in the beginning part
of
2017 and so the most famous rally I I’d
still argue is the one that occurred
middle of December that went on for
roughly two two and a half weeks
whatever it was topping on January 4
2018 that’s the most well-known one and
for good reason I understand but in
terms of percentage gains the first one
was much more substantial going from
about half a penny to what’ it get to 42
cents in I think April of 2017 somewhere
somewh there about massive it happened
really fast by the way and so look at
this if you look from 2015 all the way
to the beginning of 2017 it looked like
xrp was dead the crypto asset class
priced against xrp looked great and
that’s because xrp comparatively wasn’t
doing as hot which is why it reached
that exact level where I’m circling the
mouse on the screen right now and then
what happened and this is why I keep
highlighting this like the idiots out
there and you you see this a lot from
the toxic Bitcoin maximalist and the uh
the chart analyst that for irrational
reasons despise
xrp uh they will highlight this stuff as
indicators that there’s something wrong
with xrp but they won’t say that about
other coins because you know you see
stuff like this happen for other coins
too when uh you know when when Market
overheats but something isn’t moving
well there’s a good chance that’s
actually an indicator it’s about to go
and certainly that’s historically true
for xrp so that they’ll they’ll say that
this is bad for xrp but they’ll they’ll
lie to you they’ll lie to you and saying
because they don’t actually believe that
because they don’t say that about other
coins they’re they’re not intellectually
consistent they’re being intellectually
dishonest but the sentiment Bears out
what you’re seeing in this chart that’s
what I wanted to highlight that’s
exactly the case here but what
happened it doesn’t mean that it
happened like that day that you saw it
peek into this yellow bar that that the
blockchain backer shared it doesn’t mean
it was that day that everything started
uh getting better but it was roughly
that moment in time that it did and as
I’ve I’ve said many times recently
eventually uh when it comes to if you
look at like for instance xrp BTC which
you got to see and I’m going to show you
that next just hold up you’re going to
love this uh this is this is a very good
video uh positive reports for xrp but
you know if you look at xrp BTC
eventually there is a bottom and we
don’t know when it’s going to be and
sometimes we hope it’s the bottom and
then it start starts moving up oh well
went down and we got another yes that
happened multiple times in previous
Market Cycles but eventually there is an
actual bottom and so even if we don’t
know which move to the downside will be
it one of them will be it the last one
as I’ll show you in the second was uh
April 13th and it’s been looking very
good since then but yes when the
blockchain backit then the glory came
yes spoton absolutely and look what
happened so this is the this is the
first major move for
xrp when it went from you know
ultimately about half a penny to I think
it was about 42 cents so then compared
to the rest of the uh the AET class xrp
looking pretty
good yep it is it’s just data folks you
you come to whatever conclusion makes
sense to you but I’m just telling
you there’s one other time in history
that that we’ve been here there have
been multiple instances if you look at
xrp Price against Bitcoin which again
highlight in just a second here but
there’s only been one instance where
it’s been to this degree X if you if you
price rather the entire asset class
against xrp one other instance so now we
have that and now we have the xrp BTC
chart which I want to highlight uh right
now because if you look at the xrp BTC
chart we we’ve already been for a while
in that moment where it looks the same
as the last three Market Cycles going
back to 2014 we’ve already been there
for xrp BTC but as far as what uh the
blockchain backer reporting here for the
entire crypto asset class price against
xrp this is the first time in literally
seven years the first
time so here’s xrp BTC and this is all
happening T think about think about the
time so this is all happening right now
xrp BTC all of crypto priced against xrp
and we’re in a bull
market look at this so here’s a post
from chart analyst zg crypto xrp BTC
official Bull Run announcement xrp BTC
is key and xrp gaining traction it’s
looking promising xrp is gaining
traction and showing positive signs keep
an eye on this pair and he shared this
chart before and it’s worth repeating
frequently because this is the moment
that we’re in going back if you’re look
at the screen you can see what I’m
talking about going back to 2014 xrp
priced against Bitcoin
abysmal in 2014
2017 you know 2020 coming into 2021
abysmal and and each of those moments
Rockets to the upside we’re in that
moment now in the last for the those
other instances 2014 2017 2021 there’s
bull
markets we’re in a bull market right now
this pullback doesn’t mean anything it’s
like so if you’ve been one of the sad
pandas out there today like why like are
you kidding like more on that in a
second let me just stick on the topic
here about xrp BTC here’s a post from
dark Defender chart analyst Hall we
expected xrp BTC to be broken in April
we have tested it in the last two weeks
and yes at last xrp is waking up and he
posted that this afternoon 12:58 p.m.
central Time here’s another analyst
recognizing xrp BTC as well as uh xrp
eth and he wrote early signed that xrp
will be the big cap to lead the altcoin
season and at the top you can see at the
time he posted this this morning 11:28
a.m he was just noting that xrp
dominance up 4.75%
and and mind you this is on a bloody day
xrp is looking beautiful in fact even
against the dollar at this point it’s
it’s looking it’s I mean it’s up you
know what’s more impressive is the xrp
BTC percentage increase which I’ll show
you in just a
second um so you got that you got up 4%
against eth xrp is up over 6% against
Bitcoin at the time he took the snapshot
right I checked right before recording
this and it’s higher than that just one
second here though uh xrp market cap up
um .14 % on a bloody day like people
panicking you know the sky is falling
Chicken Little all that crap xrp is
looking
golden which if you’ve been hanging
around for a minute you know uh usually
not the case when there’s a really
really bloody Day Out There usually xrp
is going to go down with it that’s
that’s the joke it’s like you know
Bitcoin goes up oh it takes money from
alt xrp goes down that’s the joke right
because then also if Bitcoin goes down
well it’s going to hit the alt so xrp
goes down right it goes down no matter
what that’s the joke well that’s not
happening today and it does make me
wonder if the bottom actually is in and
I don’t pretend to know I’m just I’m
saying exactly what I mean I’m wondering
if that is an indicator that that is
such so here’s the latest on xrp
BTC um you can see currently up where
I’m circling right here xrp is up
7.64% it was actually up I shared a post
right before recording this it was right
at 8% up against Bitcoin
just right before I recorded this video
but look at this is like a vertical
climb xrp price against Bitcoin you love
to see it you’ll love to see it and here
was the bottom for this Market cycle xrp
pricing it’s Bitcoin it just happened
weeks ago April 13th it looked bad and
that’s when the Bitcoin Maxis were
making see it’s the end of xrp this is
it it has no place in your
portfolio so far that’s not aged well
and even if it does go back down and
there’s another low and I don’t pretend
to know eventually there is a bottom
people were saying the same crap in
previous Market Cycles see that’s it
it’s the end look at it see it just
keeps going down except for you look
like an idiot by the time the market
Cycle’s over because the asset class
moves in tandem you dummy and so what
has been happening since then trending
upwards with the most explosive move
today as the market is bloody the most
explosive move in recent weeks was today
for xrp against
Bitcoin that is cool as hell
here’s a post from Scott melker The Wolf
of all streets he’s talking about
Bitcoin here and I just wanted to
highlight this in well in part because
there was a price level for Bitcoin that
a couple analysts were warning about
including uh the Nan traic account on X
which is run by two the glass node guys
fantastic on fantastic on on chain
analytics firm they were warning about
potentially $52,000 getting hit I just
thought I’d share with you a couple more
analyst warning that or noting at least
like this is an important level uh Pro
like most analysts when they highlight
this they do seem to think it’s going to
hold at least it’s strong so wrote he
wrote here Bitcoin daily broke and
retested range lows as resistance
nothing but error until around $52,000
on the chart my biggest concern I have
been discussing for months is that RSI
never made the trip to oversold almost
there now all lower time frames oversold
this is still only a 23% correction very
shallow for a bull market and consistent
with other Corrections on this run we
are yet to see a 30% to 40% pullback
during this bull market like those of
the past now that’s absolutely true uh
that’s why when I was saying earlier in
this video that this is like a little
it’s it’s like a little pullback for
ants yeah I’m not kidding folks it’s for
ants man it’s for ants uh because the
typical pullback has been around 20%
there have been multiple of those this
this cycle leading up to this coming out
of the bottom of the bare Market there’s
been multiples of those and in past
Market Cycles yeah yeah 30% 40% hell
what yes that’s exactly what I’d become
accustomed to we haven’t seen it to this
point so I don’t know if that means we
have to see it or if you know as the
market matures you see you know things
start to Trend in a different direction
because obviously uh or maybe it’s not
obvious but it is true that as the esset
class matures and more money flows in it
actually does reduce volatility and
there’s actual data behind that and it
shouldn’t be surprising you know if
there’s five people in a room and one
sells that that would be like imagine
there’s a market with five Market
participants and one sell they all all
have equal Holdings of an asset Bitcoin
XP doesn’t matter imagine one sells
completely what’s that do it’s one
that’s oneth of the market selling crazy
volatility right now I imagine that
there’s a billion people holding
whatever the asset is Bitcoin xrp pick
your asset and imagine one person
sells it’s a drop in an ocean right and
that’s why so as more people jump into
crypto volatility reduces you should
expect that that’s not particularly
surprising there’s also this post from
uh chart analyst blockchain BB and um
she just noted here the the key takeaway
that I wanted to highlight here was that
she’s saying uh $52,000 is relatively
stronger and so like I said yesterday
there’s all sorts of analysts noting
that $52,000 for Bitcoin is a
particularly notable
level so we’ll see what happens I don’t
know for sure if we’re going to go lower
or if the worst of it was today either
way I’m here for it it doesn’t matter
and to be clear even if xrp does move to
the
downside what I believe stands true even
if this is just an exciting day which is
possible maybe it’s just an exciting day
for xrp and then xrp gets bloodied you
know tomorrow or next week or in a month
whatever uh and then we do hit a new low
against Bitcoin even if that happens to
to me it’s ultimately not going to
matter by the end of this Market cycle I
believe that I’ll be
Vindicated I have a high level of
conviction on this so I’m not going to
predict if for sure I’m not going to
predict like for sure that this is the
the lowest that xrp was going to be
against Bitcoin April 13th I’m not going
to predict that with certainty but I am
predicting U I don’t not predicting a
price but I am predicting that
eventually there will be a bottom for
xrp before it reverses and then rallies
to the upside tremendously and as long
as we have an actual alt season there’s
no Black Swan event yes xrp participates
in that because it’s part of the asset
class and this is the moment in time
it’s never been so perfectly teed up as
it is right now and on top of that
regulatory Clarity cherry on top my
friends it’s like w chef’s kiss what
more you want it’s looking great
so I’m hoping that you’re feeling happy
and good as I am on this day this is a
great day are you kidding me this is an
exciting time to be in
crypto I’m not a financial adviser you
should not buy or sell anything because
of anything I say or right that would be
a very very very bad idea until next
time to the Moon Lambo

Follow me on Twitter: @moonlamboio

DISCLAIMER: I am not a financial adviser. None of what I have communicated verbally or in writing here should be considered financial advice; it is not. Do your own research before investing in any digital asset, and understand that investing in any cryptocurrency is inherently risky. If you do, you need to be prepared to lose your entire investment.