Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14
Why One Analyst Says Now’s The Time To Buy XRP—Before It Hits $14 A few analysts say Ripple’s XRP is preparing for an explosive price action. Steph, an analyst under the “StephIsCrypto” username, offers a bold, positive outlook for XRP, saying that a significant price rally is in the pipeline thanks to increased global liquidity. In a published analysis, Steph highlighted the token’s historical relationship with increased liquidity and structural patterns like the descending channel and the Bollinger Bands. According to Steph, these are the primary factors that set up XRP for a price ascent soon. At the time of writing, XRP was trading at $0.5052, up 0.5% in the last 24 hours, but sustained a nearly 2% rally in the last week, data from Coingecko shows. XRP price forecast shows an uptrend in the next coming weeks. Source: CoinCodexXRP And Its Relationship With Global Liquidity Higher global liquidity often favors Ripple’s XRP, fueling price rallies. In Steph’s analysis, a token’s liquidity, or the available cash flow across the market, traditionally helps XRP sustain price action in past cycles. BUY #XRP BEFORE IT HITS $14.00 !!! pic.twitter.com/e8wY3UVq11 — STEPH IS CRYPTO (@Steph_iscrypto) November 3, 2024 Steph is now looking at the same trajectory, where global liquidity is increasing thanks to favorable policies from central banks. He cites the possible move of the Federal Reserve, which can introduce additional money into circulation, thus weakening the fiat currencies but creating more capital. Steph sees the token as a great investment when the liquidity surge happens. As Weighted Global Liquidity Index Moves Up, Riskier Assets Increase Steph’s thesis on XRP is also based on the Weighted Global Liquidity Index (WGLI) movement. The WGLI tracks the world’s money supply by looking at central banks’ balance sheets and other important financial statements. XRP price mostly in the red in the last 24 hours. Source: CoinMarketCapThe analyst argues that the index reflects possible price movements of risky assets, like XRP. If the index trends upward, crypto assets tend to increase as well. According to the analyst, every XRP price surge happened immediately after an increase in the index. XRPUSD is currently trading at $0.50. Chart: TradingViewCurrently, there’s a divergence between XRP’s price and the index. Although there’s an increase in global liquidity, XRP’s price appears stable. But for Steph, this setup acts as his bullish signal. Bollinger Bands Squeeze And Descending Channel Favor SRP According to Steph, even the Bollinger Bands and Descending Channel set up the altcoin for a favorable run. Since 2021, XRP has been trading in a descending channel, with multiple resistance price points and declining volumes. He pointed out that the asset’s Bollinger Bands are compressed. If the bands tighten in crypto, it suggests a probable price action. For example, XRP’s Bollinger Bands compressed in 2017, which was followed by the asset’s price rally. If the analysis and data trends hold true, the analyst expects XRP to trade at $14, translating to an increase of 2,670%. Featured image from Techopedia, chart from TradingView Christian Encila They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one. Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.