CandleFocus $40 Target for XRP as Pundit Outlines Technical and Fundamental Factors Pointing to an XRP Uptrend
2024-10-23
Author: Content Editor
Steph, a crypto market commentator, predicts a major price surge for XRP and outlines several technical and fundamental factors supporting a bullish outlook. He points to a symmetrical triangle pattern in the XRP/USD chart that suggests an imminent breakout, similar to a pattern in 2017 that led to a significant price increase. Despite regulatory challenges, Steph believes XRP is gearing up for a massive price movement. He highlights XRP's undervaluation against Bitcoin and mentions partnerships with major institutions, as well as the filing for an XRP exchange-traded fund. Steph also notes that macroeconomic factors and weakening U.S. dollar could benefit cryptocurrencies. However, he advises caution and suggests a more conservative price target of $5 to $10, while not ruling out the possibility of reaching $40. Profits should be locked in along the way, and a new all-time high for XRP could be possible by the end of 2024.
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