Top Analyst Says Buy XRP Now Before it reaches $40

Steph, a widely followed market analyst, has called on market participants to load up XRP tokens before a potential price surge to $40.

In his latest analysis shared on X, the notable commentator highlighted that XRP is poised for a significant breakout, supported by bullish patterns across both short-term and monthly timeframes. According to Steph, technical indicators point to a potential rally in the coming months.

Bullish Formation on XRP Daily Chart

The analyst identified an inverted Head and Shoulders pattern on XRP’s daily chart. He noted that the breakout will be confirmed when the market sees a daily close above the neckline, located around $0.65.

Currently, XRP is trading at approximately $0.538, having risen by 1% in the past 24 hours. Steph believes that a successful reclaiming of the $0.65 level could signal a further upward trajectory.

Specifically, the analyst suggested that if the breakout is confirmed, the next technical target could reach $1.11. Notably, this would represent a 106.31% increase from current levels.

Bullish Formation on XRP Monthly Chart

Meanwhile, on the monthly chart, Steph provided an even more optimistic outlook. He pointed out that XRP is consolidating within a larger symmetrical triangle. According to him, a breakout from this pattern could push XRP to as high as $40. 

For context, achieving this price point would represent an extraordinary 7,334% growth from XRP’s current value. While Steph recognizes that the $40 target is ambitious, he advised caution, noting that it should be treated as a “rough guideline.” 

However, he remains confident that a confirmed breakout could trigger a major rally up to that point.

While Steph is cautious about the $40 point, other analysts have even shared more audacious outlooks for XRP based on the monthly chart.

In July, analyst Heikin Ashi argued that XRP could experience a massive bull rally, potentially surging 71,061% to $305. He pointed to monthly candlestick patterns, which resemble past trends before significant price increases. 

Despite recent low performances, Ashi’s analysis suggested XRP’s ongoing monthly patterns echo previous periods of explosive growth, and a peak at $305 could be reached as a result. 

However, many other XRP analysts have contested the possibility of such extreme price growth, deeming it unlikely.

Broader Market Conditions Favoring XRP Surge

In addition to technical factors, Steph emphasized the role of market sentiment in driving XRP’s price.

The Crypto Fear and Greed Index currently shows a reading of 33, indicating a state of fear among retail investors. However, Steph believes this presents a buying opportunity for XRP, noting that “smart money typically buys into fear.”

Moreover, the upcoming Federal Reserve meeting on September 18 will likely introduce more volatility into the market.

With a potential interest rate cut on the horizon, many analysts, including Steph, predict a broader crypto rally similar to the one seen in 2020, when rate cuts spurred a bull run that sent Bitcoin and altcoins to all-time highs.