Analyst Steph Is Crypto has updated the price forecast for XRP, asserting that investors should prepare for a significant increase in the asset's price. Currently, XRP is trading around $2.8.
XRP's Current Position
At the time of press, XRP trades close to $2.8, a level that has acted as short-term support. This follows a pullback from recent highs, where the token reached $3.65. The decline stretched through late August and continued into early September, as the market failed to sustain momentum.
XRP's Technical Structure
Steph’s chart clearly highlights this consolidation. XRP price action has been confined within a symmetrical triangle, formed by lower highs since July and steady support in the $2.7 to $2.8 area. This pattern typically reflects market indecision but also sets the stage for a breakout once one side gains control.
Potential Targets for XRP
If XRP successfully breaks above the upper trendline, the next major target lies in the $4 to $4.5 range, representing a gain of roughly 42% to 60% from current prices. A move of this scale would align with the pattern’s measured objective. Historically, symmetrical triangles often resolve in a move that mirrors the prior leg of momentum. In XRP’s case, a breakout could produce a similar magnitude of gains.
Currently, traders are closely monitoring the $2.8 support level and the descending trendline above. A decisive move beyond either boundary will likely determine XRP’s next major phase.
