One of the market analysts who accurately predicted the XRP rally in November 2024 is now projecting where the market could go from here.
Javon Marks, a well-known chartist, was one of the few market watchers who maintained their bullish stance on XRP despite its underperformance earlier last year before the explosive November 2024 upsurge.
The Previous XRP Prediction
For context, from January to October 2024, XRP remained stagnant around the $0.45 to $0.6 range, while the rest of the market saw respectable gains. As a result, concerns that it could miss the bull run like it did in 2021 re-emerged.
For instance, market veteran Raoul Pal argued in August 2024 that the XRP community was exhibiting a cult-like mentality that would not let them dump XRP, as he suggested that the altcoin could very well miss the imminent bull run.
However, analysts like Javon Marks insisted that XRP was on the cusp of a breakthrough. As early as June 2024, when XRP still ranged between $0.45 and $0.51, Marks predicted that the XRP/BTC pair could see a 243% increase, with the XRP price soaring by more than 3.3x.
Five months later, the XRP/BTC pair recorded the projected upsurge, with XRP soaring from $0.5 in November 2024 to a peak of $3.4 in January 2025. This represented an impressive 6.8x increase, far outpacing the 3.3x projected by Javon Marks in June.
Marks Projects Next Upsurge
Now that XRP is again facing struggles around the $2.3 to $2.5 region on the back of broader market uncertainty, Marks has presented another bullish prediction at a time when most analysts are expecting bearish price action, and market sentiments have dropped.
In a recent disclosure on X, Marks identified a bullish price action on the XRP/BTC 2-week chart. Notably, the November 2024 rally allowed XRP to break above a descending trendline against BTC that had held strong for seven years.
However, after the breakout, XRP met resistance at 0.00003415 BTC and has since pulled back and consolidated around a range of 0.000019 and 0.000033 BTC, still holding well above the 7-year descending trendline. Interestingly, the Oct. 10 market crash pushed the XRP/BTC pair to retest the trendline 0.00000720 before a quick recovery.
Following this retest, Marks believes another upsurge is in the works. In his latest prediction, the analyst suggested that this time, XRP could outpace Bitcoin by a massive 600%, possibly pushing the XRP/BTC pair to 0.00015977, a seven-year peak.
Notably, if the pair does hit the 0.00015977 high, this would be extremely bullish for the XRP price. Specifically, at the current Bitcoin price of $107,200, an XRP/BTC value of 0.00015977 would translate to a price of $17.1 for XRP. However, Bitcoin is likely to increase from this level, suggesting that XRP price may rise beyond the $17 mark.
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.
