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XRP bullish breakout points to $15-20; The analyst expects gains of 2,000%.
Analyst Javon Marks sees strong RSI momentum in XRP, predicting a bullish breakout with price targets of $15-$20 and potential returns of up to 2,000%.
XRP is approaching a pivotal moment as it approaches a key convergence point identified through recent technical analysis. Financial analyst Javon Marks highlighted this development in a recent post from X (formerly Twitter), noting an RSI pattern that suggests robust underlying momentum in XRP prices. Marks believes that this pattern indicates a potential bullish breakout in the near future.
Expected price targets
Marks’ analysis draws attention to the RSI pattern, which has formed a series of lower highs and higher lows. This descending trendline in the RSI suggests diminishing momentum as the price consolidates within a symmetrical triangle pattern on the chart.
Historically, this type of pattern often precedes a significant price movement, either up or down. In this case, the RSI pattern supports the potential for an upside breakout. Should a bullish breakout occur, Marks’ post also calls for a conservative target price range of $15 to $20 for XRP, depending on current market conditions.
“A conservative target for a breakout and logarithmic follow-through here could be $15-20, which could result in a 20X-36X from here on a run above 2,000%!”
This potential price surge represents a substantial increase, potentially producing returns between 20 and 36 times current value – an impressive gain of more than 2,000%. The long-term target suggested by the chart is around $19.82, which reflects a potential increase of 2905.05% from the current price level.
Historical price movements
According to Marks’ chart, XRP saw a dramatic spike in early 2018, when the price of low.
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After this peak, the price entered a prolonged downtrend, stabilizing towards mid-2020. During this period of consolidation, XRP formed a symmetrical triangle pattern, a common indicator of an impending breakout.
Long-term speculative forecasts
In addition to these projections, Marks made bolder predictions regarding XRP’s future price movements. AS reported of Crypto Basic, predicts an ambitious $200 price target for XRP. With the current value of $0.53, this prediction implies a stunning price increase of 37.635%. This projection draws inspiration from XRP’s historic rally in 2017/2018, where the cryptocurrency rallied 75,000% following a breakout.
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