Financial analyst Javon Marks sees strong momentum in XRP, predicting a bullish breakout with target prices of $15-$20 and potential returns of up to 2,000%.
According to his recent analysis, XRP is nearing a key convergence point, indicated by a robust RSI pattern. Marks believes this pattern suggests a significant rise in XRP prices soon.
Analyst Predicts XRP Surge to $15-$20, 2,000% Gains
Financial analyst Javon Marks has identified a key RSI pattern in XRP, highlighting a series of lower highs and higher lows. This descending trendline in the RSI indicates decreasing momentum as the price consolidates within a symmetrical triangle pattern on the chart.
Historically, such patterns often precede significant price movements, either upward or downward. In this case, the RSI pattern supports the potential for an upward breakout. Marks projects a conservative target price range of $15 to $20 for XRP, contingent on current market conditions.
“A conservative target for a breakout and logarithmic follow-through here could be $15-$20, which could result in a 20X-36X from here in a more than 2,000% run!” he stated.
This potential price surge represents a substantial increase, potentially yielding returns between 20 to 36 times the current value, an impressive gain exceeding 2,000 percent. The long-term target suggested by the chart is approximately $19.82, reflecting a potential 2905.05% increase from the current price level.
Analyst Predicts XRP Bullish Breakout and Long-Term Surge
According to analyst Javon Marks, XRP experienced a dramatic spike in early 2018, with the price of XRP/USD soaring to approximately $3.84, marking an astounding increase of about 2907.25% from its lower price points.
Following this peak, the price entered a prolonged downtrend, stabilizing by mid-2020. During this period of consolidation, XRP formed a symmetrical triangle pattern, a common indicator of an impending breakout.
Marks is optimistic about XRP’s future, predicting a significant price surge. With XRP currently valued at $0.53, Marks forecasts a remarkable increase of 37,635%. This ambitious projection is inspired by XRP’s historical rally in 2017/2018, during which the cryptocurrency saw an astonishing 75,000% surge following a breakout.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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