An analyst has reignited bullish expectations for XRP, pointing to a historical fractal pattern that could catapult the asset to more than 50 times its current price.
The analysis suggests XRP could reach as high as $123, a level not seen in any previous cycle.
Hints from XRP Historical Fractal
In his commentary on XRP’s performance, analyst Javon Marks shared a chart comparing XRP’s recent breakout to a similar technical pattern from 2017. At that time, XRP broke out of a pennant formation that spanned about two years.
XRP rallied from consolidation lows, where it traded with two leading zeros, to above the 2.618 Fibonacci extension, translating to a peak above $2.10.
During this climb, XRP formed local tops at the $0.0364 price mark (the 1.00 Fibonacci level), consolidated briefly, and broke out to the 1.618 Fibonacci level, equivalent to $0.1726. It then consolidated for several weeks before completing the bull run. Ultimately, XRP surpassed the 2.618 Fibonacci level and reached highs above $3.
Meanwhile, XRP entered a more prolonged consolidation phase that lasted over seven years. Marks’ chart confirmed that XRP has now completed the breakout from the multi-year pennant pattern, which formed in 2018.
This breakout has already pushed XRP into the $2+ range, slightly above the 1.00 Fibonacci level. Interestingly, the pattern XRP is forming now mirrors the early stages of the 2017 price explosion.
In particular, XRP has slipped into a ranging phase following the initial momentum from its breakout, cooling off the frenzy. Marks believes the second phase of a full-scale bull run is about to take shape.
According to his chart, the next target before another period of consolidation is the 1.618 Fibonacci extension, equivalent to a price of $9.63.
Why $123 Is on the Radar
By applying the same Fibonacci logic to the current structure, Marks forecasts that XRP could again climb to the 2.618 Fibonacci extension, which this time sits around $123, after surpassing the 1.618 level. According to his estimation, this would represent a more than 50X increase from current price levels.
If such a move were to materialize, it would not only mark XRP’s highest valuation in history but would also place it among the top contenders in market capitalization, rivaling Bitcoin and Ethereum.
Specifically, at a $123 price, XRP’s market cap based on the current circulating supply of 58.55 billion tokens would be approximately $7.2 trillion. This is larger than the current combined market caps of Bitcoin and Ethereum, as well as the overall crypto market.
Caution Amid the Hype
While the technical setup is compelling, other analysts have cautioned that history doesn’t always repeat itself. In particular, some members of the XRP community believe the 2017 fractal is no longer relevant for future projections.
Critics of the $123 price target argue that such an audacious valuation, and the implied $7 trillion market cap, represent an overestimation of XRP’s potential in the current cycle. As a result, they advise holders to take profits strategically rather than waiting for these extreme price levels to materialize.
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.
