Analyst Steph Is Crypto Makes Urgent XRP Price Update: What to Watch

Cryptocurrency analyst Steph Is Crypto has provided an urgent update on XRP's price action, following an earlier analysis that highlighted its near-breakout from a bull flag pattern.

The analyst's latest remarks delve into the critical nature of the current market situation and the importance of specific resistance levels.

By examining historical trends and technical indicators, Steph provides insights into whether XRP is poised for a major breakout or further consolidation.

Crucial XRP Price Levels

According to Steph Is Crypto, XRP attempted a breakout from a bull flag pattern but failed to sustain it. The cryptocurrency fell short of closing above the critical resistance level of $2.50.

This rejection led to a downward trend, with XRP trading at $2.31 at the time of the analysis.

CoinGecko data shows that XRP has experienced a 5.26% decrease over the last 24 hours but remains 9.91% higher over the past week.

The analyst highlighted the importance of breaking above $2.50 to confirm a bullish trajectory. A daily candle close above this level could trigger a major rally.

Additionally, they noted strong support around $1.85 to $1.94 in case of a steeper dip.

Bollinger Bands hint at a potential breakout

Steph suggested that XRP might still achieve a breakout soon.

They pointed to the tightening Bollinger Bands, which could indicate potential market volatility.

Historical data also supports this optimism. A similar squeeze in November preceded a 500% rally.

The analyst predicted that XRP could reach targets between $4.00 and $15.00, depending on market momentum.

However, they cautioned that timing remains uncertain.

Highlighting historical trends, Steph noted that XRP tends to rally following U.S. elections.

They referenced the 2017 and 2020 bull runs, which saw exponential growth in the token's value.

Anticipating a similar surge in the months after the 2024 election cycle, the analyst expects substantial growth in 2025.

“XRP pumps hardest after elections,” they stated, reflecting their confidence in the token's potential.

Despite recent setbacks, the analyst remained optimistic about XRP's future.

They emphasized the importance of long-term holding, considering the token's utility and potential.

Encouraging patience, they concluded with a call to action for viewers to engage with the analysis.

With the market at a critical juncture, all eyes are on XRP's next move. Waiting for signs of a confirmed breakout that could drive the token to new heights will be crucial.