Crypto analyst JAVON MARKS has highlighted a potentially major development in the XRP/BTC trading pair. According to his analysis, XRP has broken out of a notable resistance trend on a logarithmic scale. This pattern has been in place for nearly a year.
This breakout could signal the beginning of a major bullish reversal for XRP relative to Bitcoin.
Potential for Substantial Outperformance
MARKS suggests that if this breakout is followed through, XRP could outperform Bitcoin by more than 243%. To put this into perspective, the analyst recalls XRP’s performance in mid-2023, when it moved over 100% from around $0.46 to $0.93.
During that period, the XRP/BTC pair only moved approximately 63%. Given the current breakout, MARKS speculates that XRP’s price could see much more than a 3.3X increase.
Historical Context and Future Projections
The comparison to mid-2023’s performance provides valuable context for understanding the potential magnitude of the current setup. If XRP were to outperform Bitcoin by 243% as suggested, it could translate to a larger price increase in USD terms than what was seen in the previous rally.
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Captain Faibik has also shared a bullish perspective on XRP. Faibik mentioned in his tweet that XRP has now bottomed out and is ready for a breakout. He also shared a mid-term target of $2 for XRP.
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The post Ripple Finally Breaks Out of Year-Long Resistance: Analyst Predicts +240% Price Surge for XRP appeared first on CaptainAltcoin.