In a recent analysis shared on X, crypto market commentator Steph has made a bold prediction for XRP, suggesting that the altcoin could be on the verge of a significant price surge. Drawing on both technical and fundamental factors, Steph believes XRP has the potential to reach $40, although he cautions viewers to approach this target with a degree of skepticism.
One of the key indicators supporting Steph’s bullish outlook is the symmetrical triangle pattern that has been forming in the XRP/USD chart since 2018. This pattern, which has also been identified by other market analysts, suggests that a breakout is imminent. The setup resembles a similar pattern that led to a substantial price increase for XRP in 2017, culminating in the $3.31 all-time high.
Steph acknowledges that XRP has faced significant challenges, particularly in the wake of regulatory issues like the ongoing case between Ripple and the U.S. SEC. However, he believes that the altcoin may be poised for a massive price movement, potentially outperforming Bitcoin. He points to a period in 2021 when XRP outperformed Bitcoin by over 460% within a few months as evidence of its potential.
Beyond the technical analysis, Steph highlights several fundamental factors that support a bullish outlook for XRP. Major institutions, including banks, have continued to partner with Ripple, indicating a growing interest in XRP as a potential component of the broader financial system. Additionally, the recent filings for XRP ETFs by Canary Capital and Bitwise signal strong institutional interest in the altcoin.
Also Read: XRP Activity Soars – 35,799 Active Wallets Signal Bullish Adoption Amid Legal Hurdles
Steph also considers the broader crypto market and macroeconomic factors that could benefit XRP. As global liquidity increases and central banks adopt more accommodative monetary policies, risk-on assets like cryptocurrencies are likely to see growing demand. The weakening U.S. dollar and declining Bitcoin exchange reserves further suggest that large players are positioning themselves for a bullish phase in the market.
While Steph is confident in XRP’s potential, he emphasizes the importance of approaching price targets with caution. He suggests that a more conservative target could be between $5 and $10, although higher prices are possible depending on market conditions. He advises investors to lock in profits along the way rather than waiting for an exact price target, given the unpredictable nature of the market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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