As the crypto market enters a new phase, influential crypto analyst Steph is making waves with his bold prediction for XRP. Despite an ongoing bull season, XRP has remained relatively stagnant, prompting Steph to project a significant price rally within the last weeks of 2024 and into 2025, driven by increased global liquidity.
Here’s what you can expect in the months ahead.
Steph’s analysis draws on historical trends that link global liquidity levels with XRP’s major price movements. According to him, past surges in XRP’s value have often aligned with periods of increased liquidity. His post on X (formerly Twitter) includes a chart that highlights two pivotal moments in XRP’s history: the 2017/2018 and 2020/2021 cycles.
During these cycles, rising liquidity led to explosive gains for XRP, pushing it to an all-time high in 2018 and a strong rally in 2021 when XRP nearly reached $2. Steph suggests that similar conditions could be forming now, setting the stage for another substantial price increase over the next year.
Steph’s chart points to a bullish target, with XRP possibly soaring past $6 in the upcoming market phase—a substantial leap from its current price of around $0.51, indicating a potential increase of over 1,000%. This ambitious forecast hinges on the idea that XRP, as a utility token, stands to benefit from a global liquidity surge, drawing in new investment.
While Steph sees a bright outlook, XRP has faced notable declines recently, dropping 1.42% over the past week, 5.08% over the past month, and 17.51% over the last year. However, analyst Amonyx shares a similarly optimistic view, predicting a bullish turn for XRP. He highlights a potential breakout from a symmetrical triangle pattern, which he believes could lead to major price growth.
According to Amonyx, if market conditions mirror past cycles, XRP could even hit a high of $225.9 over time.
Currently, XRP is underperforming, resembling patterns seen in 2017. Trading at $0.5039 (down 0.04% today), XRP has been consolidating within a symmetrical triangle pattern since early October. The key resistance level around $0.55 remains a major hurdle, and a breakout above this level could trigger additional gains, with the next target set at $0.5929.
All Eyes on the Market…
With the potential for substantial gains, XRP investors are watching closely for any signs of a breakout. As global liquidity rises, XRP’s chances of a significant rally may strengthen.
Is a 1000% surge for XRP realistic? Or is this too optimistic? Share your take.
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