XRP investors are being forecasted to achieve significant wealth as the cryptocurrency is expected to surpass its all-time high soon. This prediction has been shared by a prominent market analyst who suggests that current trends indicate an explosive rally for XRP holders.
XRP’s Recent Surge Attracts Attention
XRP’s performance in November captured significant interest. A remarkable climb was observed as the price increased from $0.51 at the start of November to a peak of $2.90 by December 3, marking a 464% rise within just one month.
Following this surge, XRP experienced a pullback while attempting to breach the $3 mark. It has since consolidated between $2 and $2.60 over the past two weeks. Despite this, analysts, including Steph, have maintained that a larger breakout is likely, which could position XRP holders among the wealthiest investors.
Bollinger Bands Indicate Imminent Breakout
Steph’s analysis highlights critical indicators, with a focus on the Bollinger Bands on the 4-hour chart. These bands, which measure market volatility, are currently expanding—a signal often associated with major price movements.
Historical data reinforces this observation. During similar Bollinger Band expansions in November, XRP rallied by 132% from its swing low to its swing high. Additional notable movements of 53% and 120% were also recorded during similar conditions. Based on this, it is suggested that the current expansion signals another significant rally for XRP.
Bullish Flag Pattern Confirmed for XRP
A bullish flag breakout has already been confirmed on XRP’s daily chart. This pattern typically indicates the continuation of upward momentum following a consolidation period.
The breakout has been validated by multiple daily closes above a long-term resistance line. Currently, XRP is holding above the critical support level of $2.33. While failure to maintain this level could invalidate the bullish outlook, the trend remains favorable as long as the price stays above this threshold.
Steph has identified $2.60 as a pivotal resistance level. A daily close above this point is expected to confirm the breakout further. The analyst’s target for the upcoming uptrend lies between $4.90 and $5 in the short to mid-term.
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Support for this outlook is also provided by the Exponential Moving Average (EMA) ribbons on the daily chart. XRP’s recent retest of these ribbons on December 10 resulted in a strong rebound, further suggesting that the upward trend remains intact.
Bitcoin Dominance and Its Impact on Altcoins
Bitcoin dominance, a metric that measures Bitcoin’s share of the cryptocurrency market, has also been highlighted by Steph as a key factor influencing altcoins like XRP.
On the weekly chart, Bitcoin dominance has been in decline since it fell below a rising wedge pattern. It is currently testing a breakdown level near 59%. As long as dominance stays below this threshold, conditions are considered favorable for XRP and other altcoins.
A decline in Bitcoin dominance to the 47–50% range—a historically significant support zone—has been suggested as a trigger for an altcoin season. This development could push XRP closer to the $5 target. Notably, this range was tested in July and October of 2021, making it a key area to monitor.
Caution Recommended Despite Optimism
Steph has advised caution as Bitcoin dominance approaches the 47–50% support zone. This level is expected to act as a turning point, prompting investors to consider taking profits. However, for the time being, XRP and other altcoins are believed to be in a strong position.
At present, XRP is trading at $2.50, reflecting a slight decrease of 0.12% in the last 24 hours. Investors are encouraged to remain vigilant as market dynamics unfold, with the potential for substantial gains remaining on the horizon.
