XRP continues to hover near the $2 mark, but according to prominent crypto analyst Steph, the altcoin may have already reached its bottom, signaling the possibility of a significant price surge in the near future. The analyst shared this perspective through a post on X, where he analyzed the current Relative Strength Index (RSI) and its historical patterns, suggesting that a major price breakout could be on the horizon.

Key Chart Observations

Steph’s analysis draws attention to a chart that tracks XRP’s price movement and its RSI over the past few months. The chart shows that XRP’s RSI has been in a steady downtrend, forming a falling wedge pattern. However, recent data reveals that XRP has now broken out of this downward trend. This breakout indicates potential strength, and it aligns with past bullish reversals seen in XRP’s price history.

Historically, each time XRP’s RSI reached oversold levels and reversed, the altcoin’s price experienced significant rallies. A key example was in November 2024, when XRP surged nearly six times in price following a similar RSI pattern. This historical observation adds credibility to Steph’s prediction that XRP might be poised for another powerful rebound.

“XRP Bottom Is In”

Steph confidently stated, “XRP bottom is in. Send it higher,” suggesting that the coin has already hit its lowest point during the current market downturn. His analysis points to the low of $1.90, reached on March 11, as the bottom, implying that XRP is unlikely to dip below that price. Following this statement, XRP has slightly recovered from the $1.90 bottom and briefly traded above $2.50. However, the asset has struggled to maintain its upward momentum, with a 2.5% dip at press time, bringing it back to $2.29.

The Potential for a Bullish Surge

Steph’s analysis also highlights the potential for a significant price surge if the market conditions align. Drawing from previous bullish patterns, he suggested that XRP could experience a massive 500% rally, pushing its price up to $13 or even $14. While this projection remains speculative, the analyst’s confidence stems from XRP’s historical price movements when similar technical indicators, like the Stochastic RSI, pointed to an oversold condition followed by a sharp rebound.

Steph has also made a more ambitious prediction in the past, speculating that XRP could reach as high as $30 if the bullish trend continues. While this figure might seem bold, the analyst has repeatedly pointed to XRP’s resilience and ability to make significant gains in a short time frame, particularly when key technical indicators align with bullish sentiment.

Market Sentiment and Future Outlook

The current price of XRP may still be below its previous highs, but there are signs that the market sentiment is beginning to shift. With the RSI showing a potential breakout and historical data supporting the likelihood of a major rally, many in the crypto community are eagerly watching for confirmation of Steph’s prediction.

While the exact timing of a potential rally remains uncertain, Steph’s analysis offers a glimmer of hope for XRP investors, suggesting that the altcoin may soon break free from its recent price stagnation and enter a new bull cycle.

As always, crypto markets are highly volatile, and investors should exercise caution. However, with signs of bullish momentum in the technical indicators, XRP’s price could be set for an exciting new chapter in the coming weeks.