XRP Could Skyrocket: Analyst Envisions 4,039% Growth to $20 or Beyond

XRP Could Skyrocket: Analyst Envisions 4,039% Growth to $20 or Beyond

Prominent analyst Javon Marks asserts that XRP could skyrocket by 39,000% to $200 or 4,039% to $20 when its bullish momentum ignites. XRP recently displayed a positive seven-day performance, stabilizing around $0.4831. However, investors still face a 7% loss over the past 30 days. Looking at the bigger picture, XRP’s one-year trajectory shows a 7% gain over the past year.

For years, XRP investors have eagerly awaited a bull run, as indicated by various metrics. Despite the prolonged anticipation, market observers believe the wait is nearly over, with patient investors poised for significant rewards.

Related article: 70 Million XRP Sold as Ripple Unlocks One Billion from Escrow

Marks’ Confidence in Upcoming Bull Run

In his latest commentary on XRP, Javon Marks emphasized his belief that “something massive” is imminent for XRP. He acknowledged the unmaterialized symmetrical triangle breakout but remains confident due to XRP’s current price patterns. These patterns exhibit a coiling formation similar to past trends. Additionally, Marks points to the high trading volume and confirmed hidden bullish divergence as indicators of an impending major development.

The analyst recalled the previous uptrend, where XRP surged over 110,000%. He suggested that the continuation of such an aggressive bull run could be similarly extreme. Notably, Marks refers to the period in mid-2017 when XRP traded with two leading zeros before reaching an all-time high in early 2018.

Short-Term Rally to $1.44 Before Aggressive Bull Run

Marks predicts a short-term rally to $1.44 before the aggressive bull run. This forecast is supported by the RSI and hidden bullish divergence indicators. Reaching this price point would require a 95.69% rally from current levels. If achieved, it could trigger an extraordinary uptrend continuation, breaking out of the long-standing six-year coil pattern.

Related article: Could XRP Reach $20? Analyst Outlines Four Drivers for Surge 

Marks outlined two possible scenarios following this initial rally. In the most optimistic scenario, XRP could surpass $200, representing a more than 400-fold increase from current levels. This translates to a staggering 39,000% climb, based on historical data and potential for a full logarithmic follow-through.

Alternatively, even without a full logarithmic follow-through, XRP could reach $15-$20 with a breakout of the current pattern, supported by technical data. With XRP trading at $0.4831, Marks’ lower expectation suggests a potential 40X or 4,039% growth in the near future.

fxcrypto tele

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

Share this :