Renowned analyst Javon Marks is confident that XRP could experience a remarkable surge in value, potentially reaching $200, representing a 39,000% increase, or $20, indicating a 4,039% climb. XRP has had a positive performance over the past seven days, stabilizing around $0.4831. However, investors have seen a 7% loss over the last 30 days. Looking at the bigger picture, XRP has shown a mildly encouraging trajectory with a 7% gain over the past year.
For quite some time, XRP investors have been eagerly awaiting a bull run, and it seems that their patience may soon be rewarded, according to keen market observers. Javon Marks shares this sentiment in his latest analysis of XRP. While he acknowledges that the widely predicted symmetrical triangle breakout has not yet materialized, Marks remains confident that a major development is imminent for XRP.
Marks draws his confidence from observing XRP’s current price patterns, which resemble coiling formations seen in the past. He also points to the high trading volume and confirmed hidden bullish divergence as indicators of an impending significant movement for XRP. In fact, Marks highlights that during the previous uptrend, XRP experienced a staggering climb of over 110,000%. He suggests that a continuation of such an aggressive bull run could lead to similarly extreme results.
Interestingly, Marks refers to a period in mid-2017 when XRP traded with two leading zeros before reaching an all-time high in early 2018. He believes that XRP may first rally to the $1.44 price point, as indicated by the RSI and hidden bullish divergence indicators. Reaching this level could potentially trigger a continuation of the uptrend, breaking out of the long-standing six-year coil pattern.
In the most optimistic scenario, Marks suggests that XRP could surpass $200, representing an astonishing 39,000% increase from its current levels. This estimate is based on historical data and the potential for a full logarithmic follow-through. Alternatively, even without a full logarithmic follow-through, Marks proposes that XRP could reach levels of $15-$20 with a breakout of the current pattern, supported by technical data. With XRP currently trading at $0.4831, Marks’ lower expectation implies the potential for a 40X or 4,039% growth in the near future.
It is important to note that this article is for informational purposes only and should not be considered financial advice. The views expressed are solely the author’s and do not reflect those of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses incurred.
