Crypto analyst Javon Marks has laid out an ultra-bullish narrative for the XRP price, predicting that the crypto token’s price could increase exponentially to triple figures. The analyst also alluded to XRP’s historical price pattern to show that this price move was possible.
XRP Price Could Rise Above $200
Javon Marks mentioned in an X (formerly Twitter) post that the XRP price “may be more than poised” to rise above $200 based on his Full Logarithmic follow-through analysis. He further noted that XRP saw a price increase of over 108,000% in the 2017 bull run and has since set up and broken out of its “largest resisting structure ever.”
Therefore, he boldly claimed that XRP making a 33,030% run from here “can be more than possible and developing.” Marks first raised the possibility of XRP rising above $200 in February when he revealed that XRP had just experienced another breakout, which would mean another “massive upside move to new All-Time Highs (ATHs) can be commencing soon.”
Marks’ ambitious price prediction has raised eyebrows, especially considering XRP’s current price level and how it has underperformed since this market cycle began. The crypto token has maintained a rather tepid price action and has failed to make any price gains since the beginning of the year. Instead, it has dropped by over 21%, even amidst several bullish developments in the XRP ecosystem.
XRP To Hit Two Digits At Least
While doubts remain about whether the XRP price could rise to $200, crypto analysts like CrediBULL Crypto have predicted that it could rise to at least $20. Nick, the founder of Web3Alert, also believes that XRP could rise to double digits, predicting that XRP would hit $10 at some point in this bull run.
Crypto analyst Egrag Crypto has also predicted, at various times, that XRP will hit $27 at the peak of this bull run. He stated that this was a “plausible target” since XRP saw a price gain of 61,000% in 280 days back in 2017.
Meanwhile, some analysts have chosen to make more conservative price predictions. One of them is crypto expert Ash Crypto, who predicts that XRP will rise between $3 and $5. With XRP’s current ATH at $3, it is believed that such price targets as Ash Crypto’s could easily be attained. Moreover, crypto tokens are known to surpass their ATH in every market cycle.
In the meantime, the primary target for XRP holders would most likely be to see the crypto break above the $1 mark. That price level has acted as a major resistance for XRP for the longest time, with the crypto token failing to break above it even when the court ruled that it wasn’t a security.
At the time of writing, the XRP price is trading at around $0.48, down over 2% in the last 24 hours, according to data from CoinMarketCap.
XRP price trending below $0.5 | Source: XRPUSDT on Tradingview.com
Featured image from CoinGape, chart from Tradingview.com
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Author: Scott Matherson
