Prominent analyst Javon Marks asserts that XRP may surge by 39,000% to $200 or 4,039% to $20 when its bullish momentum kicks in.
XRP has seen a positive seven-day performance, stabilizing at around $0.4831. However, investors are still nursing a 7% loss over the past 30 days. Looking at the bigger picture, XRP’s one-year trajectory has been mildly encouraging, with a 7% gain over the past year.
For years, XRP investors have been anticipating a bull run, as suggested by various indicators, but the anticipation continues to build. Yet, keen market observers believe the wait is almost over and that patient investors stand to be rewarded inordinately.
Analyst Javon Marks voiced this sentiment in his latest commentary on XRP. First, he acknowledged the widely forecasted symmetrical triangle breakout yet to materialize. However, Marks reemphasized his confidence that “something massive” is near for XRP.
His confidence is rooted in his observation of XRP’s current price patterns, exhibiting a coiling formation similar to those seen in the past. Additionally, he points to the high trading volume and the confirmed hidden bullish divergence as indicators that a major development is imminent for XRP.
The "Ripple" Effect 💧:
Yes, you've probably seen a similar pattern setup many times on $XRP, but with the way prices are coiling/shaping up combined with where the've come from (historical data) and high volume plus an already confirmed Hidden Bullish Divergence, something… pic.twitter.com/9V4XDOXtfQ
— JAVON⚡️MARKS (@JavonTM1) July 2, 2024
The analyst noted that the previous uptrend saw XRP climbing over 110,000%. He emphasized that the continuation of such an aggressive bull run could be similarly extreme.
Notably, the analyst is referring to the period in mid-2017 when XRP traded with two leading zeros, before reaching an all-time high in the first week of 2018.
XRP May Reach $1.44 First Before an Aggressive Bull Run
According to the analyst, the anticipated continuation of the bull pattern may first involve a short-term rally to the $1.44 price point, as indicated by the RSI and hidden bullish divergence indicators.
Marks believes that reaching this price point will spark the extraordinary uptrend continuation, as prices in this region can break out of the long-standing six-year coil pattern.
Notably, XRP needs to rally by 95.69% to attain a $1.44 price point. Should this materialize, the analyst outlined two possible scenarios that may play out in such a case.
XRP to Rally by 39,000% or 4,039% Afterwards
In the most optimistic scenario, XRP could surpass $200, representing a more than 400-fold increase from current levels. This is equivalent to a staggering 39,000% climb. This estimate is based on historical data and the potential for a full logarithmic follow-through.
In the second scenario, the analyst suggested that even without a full logarithmic follow-through, XRP could reach levels of $15-$20 with a breakout of this pattern, which is supported by technical data.
With XRP trading at $0.4831, Marks’ lower expectation suggests the potential for a 40X or 4,039% growth in the near future.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
