Crypto analyst StepH gives investors three important reasons why it is now an ideal time to invest in XRP.
According to Steph, there are currently strong signals that indicate an impending price outbreak. He mentions three specific factors: a bullish graphic pattern, a possible short squeeze and extremely anxious market mood.
1. Bullish pattern predicts price outbreak XRP
StepH is the first to points out the technical picture of XRP, indicating that the coin is currently acting in a so -called Falling Wedge. This is a classic bullish pattern, where the price is increasingly compressed between falling resistance and support, which often ends in an upward outbreak.
According to StepH, the price level of $ 2.53 in particular is crucial. XRP is currently acting around $ 2.57, and when the coin manages to stay convincingly above this border, he expects the race to move further up quickly.
2. Short Squeeze can increase course XRP considerably
In addition, StepH points to the Liquidation Heatmap from Binance, which is currently indicating that there are a considerable amount of short positions open. This means that there is potential for a so -called short squeeze. If XRP rises further, these short positions are forced to be closed, which can quickly push the course further up.
3. Extremely negative market mood offers an opportunity
Finally, StepH investigates the current state of the Crypto Fear and Greed Index, which indicates a score of only 20 extreme fear. Historically, such anxiety levels often formed the ideal moment to buy, because they usually point to a soil or at least at an attractive entry moment.
Although the cryptomarkt has recently been strongly recovered, with Bitcoin currently even above $ 91,000 and XRP acts around $ 2.57, the sentiment remains cautious and cautious. It is precisely this combination of caution and recovery that, according to StepH, offers excellent buying opportunities.
According to StepH, it is crucial that XRP today closes above the important level of $ 2.53, to make further price increases possible.
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Source: https://newsbit.nl/crypto-analist-3-redenen-waarom-het-nu-het-moment-is-om-xrp-te-kopen/
