XRP price action has entered a critical phase as it continues to move sideways.
Analysts, including Javon Marks, suggest the potential for a significant breakout, with XRP sitting at a key technical juncture.
Marks highlights a possible 3-4% upside that could break XRP out of a 2,424-day resisting trend, signaling a bullish wave not seen since 2016-2017. This long-term symmetrical triangle formation has been ongoing since XRP’s bull run in 2017.
Breakout Potential Amid Market Consolidation
Marks’ chart indicates that XRP’s price is nearing the apex of this symmetrical triangle. According to him, a measured move target based on the height of the consolidation could push XRP prices by over 42,000%, potentially adding $262 to its current price.
Although this scenario would represent an extraordinary surge, it is important to note that such a rally was previously observed in 2017 after an extended period of consolidation.
In another post, Marks noted that the most recent price activity has shown that XRP temporarily broke out, although it proved to be a false breakout. Nevertheless, Marks continues to observe bull divergences in both Price Action and the RSI, which suggests a more convincing bullish move could be on the horizon.
According to his analysis, a conservative target of $15-$18 is achievable with a successful breakout, potentially leading to a 2,100% gain for XRP. Furthermore, Marks emphasizes that a full logarithmic scale follow-through could elevate XRP prices to more than $100, an increase of over 20 times.
Historical Comparison and Future Projections
Meanwhile, in a separate analysis, pseudonymous analyst Mack Attack also drew comparisons to XRP’s performance during the 2017 bull run. In that cycle, XRP experienced a remarkable surge from $0.005 to a peak of $3.84, an increase of over 76,000%.
Mack Attack projects that a similar performance in the 2024/2025 bull run could push XRP to $456. However, this remains speculative as the market conditions are vastly different now.
During the 2017 bull run, #XRP experienced one of the most significant percentage increases among major cryptocurrencies, going from around $0.005 to a peak of $3.84, which represents an increase of over 76,000%.
(2024/2025 Bull run 76,000% XRP $0.60 = $456) 👀👀
The question… pic.twitter.com/PFNJKNpgEC
— 🇳🇱 MackAttackXRP® 🇳🇱 70K-XRP-Followers (@MackAttackXRP) August 23, 2024
Despite this, the analyst highlights the ongoing sentiment on social media platforms such as X, where many believe XRP could lead another bull run.
Further Bold Predictions
Ultimately, another notable projection comes from analyst Aryan, who has listed XRP among his top picks for substantial gains in this cycle. Aryan estimates XRP could surge by 3,233% to reach $20, although it currently trades 84% below its all-time high. Aryan’s bullish forecast is based on XRP riding the wave of Bitcoin’s potential rise to $500K.
Disclaimer: 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’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
