Steph, a well-known trader in the cryptocurrency community, has made an interesting discovery on the monthly XRP chart. He believes that the asset is on the verge of a historic surge, and he shared his findings in a recent analysis. The chart reveals that XRP has been experiencing lower highs for the past seven years, forming a symmetrical triangle pattern.
Steph interprets this pattern as a critical juncture for XRP, suggesting that a major breakout could be imminent. However, he did not provide a specific price target for this potential breakout.
Interestingly, Steph is not the only market observer who has expressed a positive outlook for XRP on the monthly chart. Another analyst, Heikin Ashi, has created a chart that predicts a staggering 700X price increase for XRP. According to Ashi’s analysis, XRP could reach a price of around $305, with several growth phases leading up to this target.
Despite these optimistic predictions, some market participants are starting to lose faith in the bullish sentiment surrounding XRP. One frustrated user questioned the repeated optimistic forecasts, asking why people still believe in them after years of disappointment.
The recent resolution of Ripple’s court cases with the SEC was expected to provide a boost to XRP’s price, but so far, this has not materialized. XRP briefly spiked after the event but has since fallen back to $0.5625.
In response to Steph’s analysis, another user pointed out that even with legal clarity and positive rulings, XRP’s price has remained stagnant. They emphasized that XRP is one of the most hyped coins in history but is still far below its all-time high.
Despite the skepticism, there are still enthusiastic supporters who believe in the potential of XRP. However, readers are advised to conduct thorough research before making any investment decisions, as the opinions expressed in this article are not financial advice. The Crypto Basic is not responsible for any financial losses that may occur.