Greed

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bullish

CRYPTO

<ul class="wp-block-list">
 <li>Analyst Steph predicts XRP could reach $40, based on technical patterns.</li>
 <li>Inverted Head and Shoulders pattern on daily chart suggests $1.11 target.</li>
 <li>Market sentiment and macroeconomic factors could support XRP’s growth.</li>
</ul>
<p>Renowned market analyst Steph has ignited discussions in the cryptocurrency community with a bold prediction for <a href="https://thenewscrypto.com/?s=Ripple" target="_blank" rel="noopener noreferrer nofollow">Ripple </a>coin’s future price action.</p>
<p>His analysis, shared on social media platform X, suggests that <a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noopener noreferrer nofollow">XRP </a>could be on the verge of a significant breakout, potentially reaching as high as $40 in the long term.</p>
<p>Steph’s analysis centers on two key technical formations across different timeframes. On the daily chart, he identifies an inverted Head and Shoulders pattern, a bullish formation that could signal a trend reversal.</p>
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   <p lang="en" dir="ltr">BUY <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> BEFORE $40.00 !!! <a href="https://t.co/d6O67E7b0A" rel="noopener noreferrer nofollow">pic.twitter.com/d6O67E7b0A</a></p>— STEPH IS CRYPTO (@Steph_iscrypto) <a href="https://twitter.com/Steph_iscrypto/status/1833543457224143329?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 10, 2024</a>
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<p>The analyst posits that a daily close above the pattern’s neckline, situated around $0.65, would confirm the breakout. With XRP currently trading at $0.538, a successful breach of this level could pave the way for a surge to $1.11, representing a 106.31% increase from current prices.</p>
<h2 class="wp-block-heading" id="h-can-xrp-hit-the-40-mark">Can XRP hit the $40 mark?</h2>
<p>The monthly chart paints an even more optimistic picture, according to Steph. He observes XRP consolidating within a larger symmetrical triangle, a pattern that, if broken to the upside, could theoretically propel the asset to the $40 mark.</p>
<p>While acknowledging the ambitious nature of this target, representing a staggering 7,334% growth from current levels, Steph advises treating it as a “rough guideline” rather than a certainty.</p>
<p>Steph’s projections, while bullish, are not the most audacious in the XRP analysis sphere. In July, analyst Heikin Ashi proposed an even more dramatic scenario, suggesting XRP could potentially surge 71,061% to reach $305.</p>
<p>Ashi’s analysis drew parallels between current monthly candlestick patterns and those preceding previous periods of explosive growth. However, many in the crypto community view such extreme price targets with skepticism.</p>
<p>Beyond technical indicators, Steph emphasizes the importance of broader market conditions in driving XRP’s potential surge. The current Crypto Fear and Greed Index reading of 33 indicates a state of fear among retail investors, which Steph interprets as a buying opportunity.</p>
<p>He argues that “smart money typically buys into fear,” suggesting that contrarian investors might see current market sentiment as favorable for accumulation.</p>

Analyst Predicts Ripple (XRP) Could Reach $40 Based on Technical Patterns

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