Bitrabo Editorial
Crypto analyst Javon Marks remains optimistic about XRP’s prospects, foreseeing a significant breakout despite its lackluster performance so far this year. Marks predicts a substantial rally on the horizon for XRP.
Predictions of XRP Soaring Between $15 and $20 After Breakout
Marks indicated in a post on X that XRP could potentially reach a range of $15 to $20 following an upcoming breakout from the symmetrical triangle he identified on his chart. He emphasized that these price targets were conservative estimates, excluding the full Logarithmic Follow through.
Interestingly, Marks referenced historical data suggesting that a Full Logarithmic Follow-Through might propel XRP’s price up by more than 39,000%, possibly reaching $200. He believes such a price surge is feasible for the cryptocurrency, citing past performance to support his claim.
Marks conducted a detailed technical analysis of XRP’s price indicators, highlighting the confirmed Hidden Bullish Divergence and substantial volume as indicators of an impending significant move. He identified a potential “coil pattern” within the symmetrical triangle on XRP’s chart, hinting at a continuation of the previous uptrend.
Moreover, Marks observed the Relative Strength Index (RSI) and noted Lower Lows already in place. He suggested that a bullish reversal could lead to XRP breaking out of the Symmetrical triangle and pennant formation, with a possible target of $1.44.
Anticipated Price Movement Similar to 2017 Rally
Crypto analyst Mikybull Crypto highlighted the possibility of XRP replicating its remarkable 2017 rally based on current price action trends. In 2017, XRP experienced a monumental 61,000% price surge in less than a year, showing the potential for significant gains.
Mikybull Crypto projected that if a similar price movement occurs again, XRP could surpass $4. Another analyst, Doctor Magic, echoed this sentiment, comparing the current XRP market sentiment to that of 2017 and anticipating a volatile breakout when the time comes.