A prominent crypto analyst has projected that XRP could target a major long-term price level near $17 based on a technical move.
This bold outlook comes as XRP shows mixed short-term performance, leaving analysts divided on its next direction.
Key Points
- A prominent crypto analyst projects that XRP could reach a long-term price target of $17 using a measured move strategy.
- The projection relies on a measured move derived from XRP’s previous bull-market rally.
- Achieving the price target would require a gain of over 1,100%, or roughly a 12x increase.
- XRP’s recent mixed performance has left analysts divided on its short-term direction.
XRP Measured Move Target Sits Close to $17
Market analyst Javon Marks has outlined a bullish long-term scenario for XRP, arguing that the asset could climb to nearly $17 based on a measured-move projection.
Notably, his chart highlights a large pennant pattern that formed since 2017 after XRP’s previous bull-market surge. Such formations typically signal a period of consolidation before the continuation of an existing trend.
According to his analysis, XRP broke out of this pennant in late 2024 during the post-election market rally. This breakout, he suggests, marks the beginning of a new upward cycle.
By measuring the size of the 2017 rally and projecting that magnitude from the point at which the pennant reportedly broke out in late 2024, Marks derived a measured-move price target of approximately $16.39.
This approach assumes that the breakout will continue to follow historical market behavior, meaning the next expansion phase could mirror the scale of XRP’s previous major rally. From current levels, reaching this target would require a gain of more than 1,111%, or roughly a 12x increase.
A Massive Discount?
The projection has sparked debate, with some XRP proponents asking whether a fake breakout could occur before any significant rally. In response, Marks acknowledged the possibility of volatility but stressed that the current structure closely mirrors XRP’s 2017 cycle.
He further argued that, with XRP still trading well below the $17 target, current prices may represent a relative discount. In his view, the breakout structure suggests XRP could still be in the early stages of a much larger move if historical patterns repeat.
What Other Analysts Say
Meanwhile, XRP has delivered mixed performance this week. After rallying to around $1.39 following the Iran ceasefire, the token has since pulled back to about $1.33, marking a 3.32% decline over the past 24 hours.
In the meantime, other bullish projections continue to emerge. For instance, analyst CG recently pointed to a two-year Elliott Wave structure, suggesting that Wave 3 could drive XRP toward $24.
Additionally, market commentator Dark Defender stated that XRP could be approaching a new all-time high after breaking out of a resistance-support triangle pattern.
Despite these bullish signals, some analysts believe a dip to under $1 remains a possibility before the next leg up.
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.
