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Cryptographer is Big up on XRP price forecast, a massive price hike to $40 is expected Cryptocurrency. Although XRP Stagnant price growth over the yearsThe crypto analyst remains confident about the cryptocurrency’s short- and long-term prospects.
XRP Price Surges, Don’t Panic and Sell
XRP, the native token of XRP Ledger (XRPL) It is currently showing incredibly bullish signs according to “Steph Is Crypto”, a market expert at X (formerly known as Twitter). Share video In discussing his analysis of the XRP chart, Steve Ez Crypto revealed that cryptocurrencies are Getting ready for a big launch In the immediate short term.
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The analyst revealed that XRP is currently forming a “larger inverted head and shoulders” technical pattern. As a result, he expected that a breakout in XRP will be confirmed when a daily candle is seen near the neckline at the $0.65 level. once XRP Closes Above This Crucial Price LevelThe cryptocurrency could see a price spike to $1.11, which represents a 106% increase from its current value.
Steve Ez Crypto also revealed that in the monthly time frame, XRP price It is approaching the top of its distinctive symmetrical triangle pattern. A symmetrical triangle is a neutral chart formation consisting of two converging trend lines. indicating a possible price breakout after a period of sideways trading.
based on XRP Triangle Chart PatternThe analyst believes that the cryptocurrency could see a massive price surge to $40 in the next few weeks. Given the ambitious nature of these price predictions, Steve Ez Crypto cautioned investors to approach them with caution, citing the unpredictable nature of the market.
However, if XRP breaks the downward-sloping resistance line in the symmetrical triangle pattern, the cryptocurrency could see a sharp decline. Fast move upA jump to $40 would mean that XRP would need to rise 75.5% from its current price of $0.53.
Looking at Fear and Greed Index In the broader cryptocurrency market, the majority of investors are in a state of fear due to recent market decline However, Steve N Crypto urged XRP investors to remain optimistic, stressing that now is the worst time to sell their holdings immediately.
He also revealed that XRP is witnessing a significant buildup of liquidity from short positions. As a result, he advised investors to monitor the cryptocurrency’s liquidity margin and expect a short squeeze or bullish move to occur soon.
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XRP Price Analysis Update
Despite bullish expectations for XRP from analysts and new legal clarity, the cryptocurrency is still slow growth experienceCoinMarketCap data shows that XRP is still consolidating around the $0.5 price level, showing only modest gains even under favorable market conditions.
Over the past 24 hours, the cryptocurrency’s price has risen by 1.06%, but it has also fallen by 1.90% in the previous week.
Featured image created using Dall.E, chart from Tradingview.com
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