In spite of a slight adverse trend in the crypto market, XRP has been gradually rising in recent days, fueling positive and bullish predictions from market analysts to unprecedented heights.
XRP Might Rally To New All-Time High Sooner Than Expected
Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism towards XRP, sharing a daring prediction regarding the crypto asset’s future with the community on the social media platform X (formerly Twitter).
According to the crypto expert, XRP might be poised to undergo a significant movement that will send prices to unprecedented heights, where he highlighted that there is a possibility that XRP can rally beyond the $200 price mark.
Marks noted that the digital asset is presently experiencing “another set of higher lows” that are holding. In addition, he pointed out that “another breakout” has taken place in the XRP chart.
A potential rise to $200 and above | Source: Javon Marks on X
As a result of this, XRP could witness “a massive upward movement” to New All-Time highs (ATHs), which Javon Marks expects to commence soon.
The post read:
A $200+ XRP (Ripple) can be possible. Another set of Higher Lows are holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.
The crypto analyst’s analysis aligns with a historical trend that had previously occurred in 2018, sending XRP’s price to its current ATH of $3.3. Prior to the surge, the token fell from the December 2013 high of $0.06, creating a bearish declining trendline.
For several years, XRP was below this declining trendline, with two unsuccessful breakout trials during that timeframe. Nonetheless, after failing to break out twice, the coin persisted and managed to break out in 2017.
After this breakout, it increased by over 63,000% to its present all-time high price of $3.3. Based on Mark’s predictions, it indicates that this precise trend is manifesting right now.
However, some community members have expressed their displeasure with the analyst’s projections. A pseudonymous X user disagreed with Marks saying “It does not make any sense” given the “basic tokenomics” of the crypto asset.
The Crypto Asset Poised For A Move Above $0.60
Cryptocurrency analyst Ali Martinez has underscored the potential for XRP to move past the $0.60 price mark. According to his post, Martinez’s position was influenced by the observation made by the Tom DeMark (TD) Sequential.
He stated that the TD Sequential indicator has formed a buying signal on the token’s chart. Consequently, this indicates a possible bullish momentum for XRP to move higher.
He further asserted that if it manages to maintain its weekly close above $0.57, it could serve as a catalyst for an upswing to $0.63 or even further, setting his target at $0.65
As of the time of writing, XRP was trading at $0.538, demonstrating a decline of 1.39% in the past day. Its market cap is down by 1.42%, while its daily trading volume is up by over 4%, according to CoinMarketCap.
XRP trading at $0.5347 on the 1D chart | Source: XRPUSDT on Tradingview.com
Featured image from iStock, chart from Tradingview.com
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