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HomeCryptocurrencyMarket Strategist Says XRP Price Discovery Is Next. Here's why

Market Strategist Says XRP Price Discovery Is Next. Here’s why

Steph Is Crypto (@Steph_iscrypto), a prominent crypto analyst on X, recently shared a monthly chart suggesting a massive rally. The chart spans more than a decade of price history, distinguishing between where XRP has traded heavily and where the market has moved quickly with little volume.

Analyzing the Chart

On the chart, heavier volume appears across the bands where XRP spent years consolidating, while the region above the current price shows little historical activity. In the chart, Steph marked the upper portion as “Last Resistance.”

Several horizontal levels are drawn below the current price. These appear to represent zones that in the past acted as resistance and now function as support. Despite some minor volatility, recent monthly candles are holding above these levels, signaling that the breakout has pushed XRP out of its long-standing range.

When an asset clears the bulk of its historical resistance on a high timeframe, there are few points of reference until new ones form. The chart suggests that XRP is now in that situation, with Steph predicting a new phase of price discovery for the digital asset.

Where Is XRP Going Next?

The chart does not contain a specific target level. However, the scale of the vertical axis provides a practical reference. The $5 mark is the next round figure clearly visible on the chart, and it sits above the digital asset’s recent peak of $3.65, which now serves as the highest resistance level.

A move to that level would represent an increase of about 63.9% from the cryptocurrency’s price of $3.05. This target illustrates the type of increase that price discovery often implies, and the openness of Steph’s analysis suggests the asset could climb much higher.

What Would Validate the Message

For the breakout to remain intact, monthly closes should hold above the horizontal bands that were drawn beneath the current price. These levels now serve as the base of support, and leave considerable room for further movement if XRP can surpass the resistance levels. However, if the price falls back below them, the asset might lose momentum and retest lower levels.

Other analysts have highlighted $3.65 as a crucial level to overcome before a rapid ascent, and Steph’s analysis reinforces the idea of a clear upward path once the digital asset can surpass this resistance level.

 

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over seven years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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