Market technician Javon Marks has identified a repeating structure on the XRP chart that could push prices to a new all-time high.
Marks’ commentary came amid XRP’s price struggles, which appear to be nearing an end. Specifically, at the time of his analysis, the altcoin traded for $2.39 with bearish pressure impeding any meaningful uptick. Nonetheless, his confidence in a breakout endured.
XRP’s Run from 2014 to 2018
The market analyst noted that despite the bearish price action, XRP was still in a favorable position, as its movements appear similar to historical trends from a past bull run. Notably, data from his 3-day chart shows that XRP has been following a similar structure from the 2014 to 2018 cycle that led to an explosive run.
For context, during this period, XRP first collapsed to a bottom price of $0.0028 in July 2014. After this floor, the price recovered considerably to $0.028 before facing rejection at this high and correcting to $0.0042 by November 2015.
Interestingly, after this correction, XRP consolidated but continued to see higher lows to maintain the bullish structure, as noted in Marks’ chart. Once this consolidation ended in March 2017, XRP launched an upsurge. It first rallied to a high of $0.0695 that month before cooling off for a few weeks. After the break, XRP soared to the ATH of $3.31 by January 2018, marking the top.
Ongoing Repetition Could Lead to $9.9
Following the top, the pattern started repeating. First, XRP collapsed to a bottom price of $0.1103 by March 2020 and then recovered to a peak of $1.96 in April 2021. After this peak, it witnessed another pullback to $0.2910 by June 2022, similar to what happened in November 2015.
From here, XRP again consolidated, but saw higher lows until it broke out of the consolidation phase in November 2024 to reach a peak of $3.4 by January 2025. Now, Marks’ chart indicates that the current price struggles represent another cooling-off period, hinting that XRP could again rally to a new peak.
Marks predict that when this breakout occurs, the immediate target for XRP is the $9.9 price level, which aligns with the 1.618 Fibonacci extension. This represents a 291% increase from XRP’s current price of $2.53. Still, the analyst insists that XRP may not stop there. His chart shows higher targets at $26.24 (Fib. 2) and $127 (Fib. 2.618).
In addition to Marks, other analysts have maintained that XRP remains bullish at current levels. For instance, market watcher DustyBC recently confirmed that XRP is still making bullish moves within a descending wedge. According to him, the market has completed the bear phase, and the bullish moves could continue. A breakout from this wedge would lead to $3.6.
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.
