In a video shared on X, prominent crypto analyst Steph (@Steph_iscrypto) detailed his insights on XRP’s price trend and potential trajectory through 2024 and 2025.
His analysis, titled “XRP HOLDERS WILL BE EXTREMELY WEALTHY!,” delves into current market trends, resistance levels, and strategies for maximizing profits in the ongoing bull market.
#XRP HOLDERS WILL BE EXTREMELY WEALTHY! – (Price Prediction 2024 – 2025) pic.twitter.com/YgJF9hEiiH
— STEPH IS CRYPTO (@Steph_iscrypto) November 25, 2024
XRP in the Market
Steph highlighted the remarkable performance of XRP, which recently surged to $1.50—a significant increase from its price of approximately $0.50 just weeks prior. This represents an over 200% return for investors who capitalized on the earlier dip.
He attributed this rally to XRP’s breakout from a long-term symmetrical triangle pattern forming since 2018. The breakout signals a robust bullish continuation, making XRP a focal point in the altcoin market.
Profit-Taking Strategies
While applauding the impressive gains of XRP holders, Steph emphasized the importance of strategic profit-taking. He noted that the market is unlikely to climb continuously without temporary pullbacks or corrections.
According to his technical analysis, the first significant resistance level lies at $1.96, derived from the 0.786 Fibonacci retracement level. This corresponds to XRP’s previous high from April 2021.
Beyond this level, he identified $3.30—XRP’s all-time high from January 2018—as the next key target. Steph pointed to a potential high of $33 for long-term investors, based on a technical target derived from the symmetrical triangle formation.
However, he cautioned viewers to approach such ambitious targets with realistic expectations, stressing the importance of locking in profits incrementally to mitigate risks in the volatile cryptocurrency market.
XRP’s Performance Against Bitcoin (BTC)
Steph underscored the significance of analyzing XRP’s performance against Bitcoin, using historical data to identify support and resistance levels. XRP recently bounced from a critical support zone in its XRP/BTC pair, an area that previously catalyzed significant upward movements in 2021.
The next resistance zone, marked by multiple rejections since 2019, presents a potential 94% gain against Bitcoin. Should XRP breach this resistance, he foresees a further 236% gain against Bitcoin based on Fibonacci retracement levels.
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Insights on Market Timing
Drawing attention to the broader altcoin market, Steph highlighted the current phase as an opportune time to invest in altcoins. He noted that Bitcoin dominance, a key indicator of market trends, is nearing a critical resistance level. A decline in Bitcoin dominance often signals the onset of an altcoin season, during which assets like XRP could outperform significantly.
Steph advised investors to remain vigilant for signs of this transition and suggested tracking the Alt Season Index, which currently sits below 75—a threshold indicating that altcoins are yet to reach their peak momentum.
Steph also referenced other promising altcoins, such as Algorand (ALGO), which he believes is undervalued and poised for significant gains. He urged viewers to diversify their portfolios, highlighting opportunities for trading and investment on platforms like Margex, where he actively manages long positions in XRP, Algorand, and other assets.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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