Crypto analyst Steph Is Crypto released a video discussing recent XRP price changes and future predictions.
Current Price Levels of XRP
Steph Is Crypto emphasized that XRP remains in a higher high and higher low structure on the weekly timeframe, indicating potential upward movement despite recent volatility. According to him, XRP is forming a bullish continuation pattern, suggesting another rally might be forthcoming.
Factors Affecting the Market
Steph also connected XRP’s prospects with broader market dynamics. He noted that inflation in the United States remains below target levels, creating expectations for possible interest rate cuts in the future. Additionally, he pointed out a decrease in the share of XRP holders in profit and an increasing activity of short-term wallets, indicating ongoing interest from retail investors. However, he cautioned about a decrease in retail search interest for XRP.
Outlook for Other Altcoins
Analyzing the altcoin market, Steph referred to the Altcoin Season Index, presently at 53, suggesting there is potential for growth before corrective movements occur. In addition to XRP, he discussed Hedera (HBAR), which he anticipates could also show significant growth.
Steph Is Crypto concluded that it is crucial for XRP to maintain support above $2.64, with his short-term target remaining between $4 and $5. Despite some warnings, both XRP and HBAR present interesting opportunities under current market conditions.
