A crypto analyst is highly optimistic about XRP's future, predicting its price could surge to $40. Despite years of stagnant growth, analyst 'Steph Is Crypto' believes this surge is imminent. By analyzing XRP's technical patterns such as the inverted head and shoulders and symmetrical triangle formations, he anticipates a breakout if XRP closes above $0.65, potentially pushing its price to $1.11.
Furthermore, the analyst notes that on longer monthly time frames, these patterns suggest an even more significant breakout to $40 in the short term, although he advises caution due to market unpredictability. Current investor sentiment is fearful due to recent volatility, but Steph Is Crypto urges maintaining a bullish outlook.
Despite the optimistic forecast, XRP’s current performance remains sluggish with modest price movements around the $0.5 level. Investors should pay close attention to liquidity build-up from short positions as it might lead to a short squeeze, accelerating upward price movement.
