Is a Major XRP Surge on the Horizon? Analyst Claims This Chart Foretells It All

XRP Analysis

• Current Price Action: Crypto analyst Steph Is Crypto indicates that XRP is in a consolidation phase, forming a bull flag structure. He believes that as long as XRP maintains support around $2.73, a breakout could lead to a price target near the $5 region.
• Technical Indicators: The chart shows compression, suggesting that XRP is nearing a significant directional move. Additional on-chain and market indicators support a bullish outlook.

HBAR Insights

• Whale Activity: Significant shifts in HBAR net flows were noted, moving from a positive 3.2 million to a negative 695,000 in one day, indicating heavy accumulation by whales.
• Market Structure: HBAR is forming a bullish descending triangle pattern, with a potential upside target of $0.50. The current market behavior is reminiscent of HBAR's 2021 cycle, suggesting a possible repeat performance by late 2025.

Resistance Levels for XRP

• Key Resistance: XRP has struggled with the $3 resistance level since 2017, and a confirmed monthly close above this level would be a critical development for its long-term outlook. The August 2025 candle closure will be pivotal in determining this.

Broader Market Context

• Liquidity and Market Conditions: Much of XRP's liquidity is above the current price, hinting at a potential short squeeze. Upcoming U.S. Federal Reserve interest rate cuts could act as catalysts for upward movement, recalling a nearly 500% rally in XRP following a previous rate cut in September 2024.

Cautionary Notes

• Market Risks: Despite a bullish outlook, Steph cautions that XRP's current structure resembles a five-wave pattern similar to the 2021 bull run, which ended in a bear market. Investors should be prepared for potential corrections if XRP approaches the $4 to $5 range.
• Technical Signals: Bearish divergence signals on the RSI and declining retail interest, as indicated by Google Trends, are factors to monitor closely.

Conclusion

• Overall Sentiment: Steph remains bullish on both XRP and HBAR, anticipating at least one more strong upward push. However, he emphasizes the importance of tracking technical signals as the market approaches key resistance levels, particularly around the $5 mark for XRP.