As the cryptocurrency market evolves, influential analyst Steph is capturing attention with a bold prediction for XRP. Despite the ongoing bullish phase in the market, XRP has shown relative stagnation. However, Steph anticipates a significant price rally for XRP towards the end of 2024 and into 2025, driven by an increase in global liquidity.
Global Liquidity as a Catalyst
Steph’s analysis leverages historical trends that correlate global liquidity levels with major price movements in XRP. Past surges in XRP’s value have frequently coincided with periods of heightened liquidity. In his recent post on X (formerly Twitter), Steph shared a chart that highlights two crucial cycles in XRP’s history: the 2017/2018 and 2020/2021 periods.
During these cycles, increased global liquidity aligned with explosive gains for XRP, including its all-time high in 2018 and a subsequent rally in 2021 when XRP nearly reached $2. Steph suggests that similar conditions may be emerging, potentially setting the stage for a significant rally in the coming year.
Ripple (XRP) Price Prediction
Steph’s forecast suggests that XRP could exceed $6 in the upcoming market phase, representing a dramatic increase from its current price of approximately $0.51. This implies a potential rise of over 1,000%. The bullish projection is grounded in the belief that XRP, as a utility coin, will particularly benefit from increased global investment as liquidity rises.
Conversely, XRP has experienced declines across various timeframes, with a 1.42% drop weekly, 5.08% monthly, and 17.51% annually. Nonetheless, another analyst, Amonyx, predicts a bullish reversal for XRP, pointing to a potential breakout from a symmetrical triangle pattern that could lead to significant price growth. Based on historical cycles, Amonyx speculates that XRP could soar as high as $225.9.
Current Market Scenario
Currently, XRP is underperforming, echoing trends observed in 2017. As of now, XRP trades at $0.5039, marking a 0.04% decline for the day. The altcoin has been consolidating within a symmetrical triangle pattern since early October, with a key resistance level around $0.55. A successful breakout above this level could pave the way for further gains, with the next target set at $0.5929.
With the potential for substantial gains on the horizon, XRP investors have every reason to remain vigilant. Will the breakout occur this time? Only time will tell.
