As an experienced crypto analyst with a background in technical and fundamental analysis, I have closely followed the XRP market for several years. Based on my analysis of the latest developments and trends, I remain bullish on XRP’s potential despite its underperformance this year.
Despite the lackluster performance of XRP throughout the year, crypto analyst Javon Marks continues to hold a positive outlook towards the token’s future potential. Marks recently expressed a bullish perspective, anticipating a significant price surge for XRP in the near term.
XRP Could Be Rise Between $15 and $20 Following Major Breakout
In a recent post on X (previously known as Twitter), Marks indicated that XRP might surge between $15 and $20 once it breaks out from the symmetrical triangle he identified on his chart. He emphasized, however, that these price targets represented his more modest projections; the entirety of a bullish Logarithmic progression had not yet been realized.
It’s intriguing to note that according to the analyst’s assessment of historical trends, XRP could experience a significant price surge of over 39,000%, reaching approximately $200 per token. The analyst holds the belief that such a dramatic price increase is plausible for this cryptocurrency given its past behavior.
Mark offered additional technical insights into XRP‘s price signals, expressing his conviction that a significant price surge is imminent. He pointed out the presence of a Hidden Bullish Divergence, observed the emerging trend in prices, and highlighted the high trading volume as strong indicators suggesting “a major development could be right around the corner.”
The analyst pointed out that the symmetrical triangle showing decreasing volume on the XRP crypto chart could be referred to as a “coil pattern.” This pattern might indicate a resumption of the earlier price surge, which had resulted in an astounding 110,000% increase. Consequently, another surge could potentially bring significant gains.
As a crypto investor, I kept an eye on Mark’s analysis and noticed his use of the RSI (Momentum Oscillator) and a trend line indicating previous lower lows. He pointed out a hidden bullish divergence, where the RSI formed lower lows but prices created higher ones.
This implies that a return to the $1.44 level is a strong possibility according to him. Mark’s perspective is that such a bullish reversal might rekindle the earlier upward trend, allowing XRP to ultimately surmount the Symmetrical triangle and pennant.
Price To Repeat Historic 2017 Rally
As a researcher closely monitoring the cryptocurrency market, I’ve taken note of Mikybull Crypto’s recent observation regarding XRP‘s potential price action. In 2017, this crypto token experienced an extraordinary rally, surging over 61,000% in just 280 days. If a comparable price movement were to occur once more, I estimate that XRP could potentially reach prices above $4.
Mikybull Crypto expressed his conviction that a bearish outlook for XRP could lead to a significant price drop, citing the current pessimistic sentiment towards the cryptocurrency. Doctor Magic concurred with this assessment and noted that XRP’s market conditions resemble those of 2017. He further mentioned that volatility levels for XRP are unusually low at present, implying that a potential price surge could be quite dramatic when it occurs.
Read More
- LUNC PREDICTION. LUNC cryptocurrency
- USD ZAR PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- SOL PREDICTION. SOL cryptocurrency
- BICO PREDICTION. BICO cryptocurrency
- USD PHP PREDICTION
- XRP PREDICTION. XRP cryptocurrency
- USD COP PREDICTION
- TOWER PREDICTION. TOWER cryptocurrency
- AST PREDICTION. AST cryptocurrency
2024-07-05 03:11