XRP Holders Poised for Wealth: $5 Target Gains Steam
Analyst Steph predicts XRP could soon breach its all-time high, potentially reaching $5.
XRP’s Bollinger Bands signal a major breakout, with past patterns showing explosive surges.
Bitcoin’s dominance decline creates favorable conditions for XRP and other altcoins.
XRP’s recent price dip to $1.97 rattled the market. Still, a swift recovery to $2.37 boosts hopes for a major breakout.
According to market analyst Steph, XRP holders are in for gains. He has cited the potential to see the cryptocurrency soar beyond its all-time high soon, potentially making loyal XRP holders “the richest” crypto investors.
Steph’s Analysis: XRP Holders Poised for Wealth
Steph’s analysis highlights the current state of the Bollinger Bands on XRP’s 4-hour and 12-hour charts. It shows the Bands are tightening again, a pattern often indicative of an imminent price movement. He references November’s jump, when a similar squeeze triggered a 490% rally.
Given these past movements, Steph believes the expanding Bands are a clear signal that XRP could be primed for another major breakout. “This could be the start of something big,” he notes.
Bullish Flag Pattern and $5 Target
Steph also draws attention to XRP’s recent breakout from a bullish flag pattern on its daily chart. This breakout was confirmed by multiple daily closes above a long-term resistance line, with XRP now holding above the crucial $2.33 support level.
As long as XRP maintains this support, Steph remains optimistic about its upward trajectory. He identifies $2.60 as a key resistance level to watch, with a daily close above it further confirming the breakout. Accordingly, the analyst sets a mid-term target for XRP between $4 and $5.
