XRP, one of the worst performing coins of the year so far among the top 10 cryptocurrencies by market capitalization, now appears to be on the verge of a historic bull run, according to popular crypto analyst Javon Marks.
According to Marks, XRP’s latest price action shows a major change in its trajectory, reminiscent of the spectacular growth recorded from 2016 to 2017.
XRP: 50,000% Bullish Outlook Analysis
In a post on X earlier today, Javon Marks highlighted potential signs of a strong bull run for XRP, similar to the rally from around $0.0066 to over $3.30 years ago.
Marks pointed to what he described as a “Hidden Bullish Divergence” on XRP’s chart—a technical indicator that suggests the current price action is unusual and that a significant rally could be on the horizon.
Notably, bullish divergence typically occurs when an asset's price hits a new low but the momentum indicator starts to rise, indicating that the downtrend is losing strength and could reverse.
$XRP is still showing signs of mirroring the 2016-2017 action as the price skyrocketed nearly +50,000% from ≈$0.0066 to over $3.30!
Marks noted that this pattern closely mirrors the conditions seen before XRP’s explosive growth over the past decade. Marks stated in the post, showing strong confidence in the asset’s upcoming market behavior:
This means that we could be on the verge of witnessing an unimaginable and extraordinary performance and show of power from XRP and Ripple, happening ANYTIME. History may not always repeat itself exactly, but it often rhymes, and the ‘songs’ that XRP and Ripple are ‘playing’ could have some of the most amazing lyrics.
Touching Ripple And The SEC Saga
The backdrop for XRP’s potential resurgence in the market, as Marks highlights, is framed by legal battles and regulatory challenges, particularly with the US Securities and Exchange Commission (SEC).
The long-running legal battle, which began in December 2020, accuses Ripple Labs of selling XRP as an unregistered security.
After lengthy legal proceedings, a federal judge recently ordered Ripple to pay $125 million—a fraction of the $2 billion the SEC initially sought—effectively closing a significant portion of the litigation.
The ruling, handed down in July 2023 by Judge Analisa Torres of the Southern District of New York, found that while Ripple violated securities laws in its direct sales to institutions, the company did not violate the law in its transactions that put XRP on exchanges accessible to retail investors.
This partial victory for Ripple is being viewed positively by the market as it provides a clearer legal framework going forward and could reduce the uncertainty that has clouded XRP’s potential.
In Marks' view, this could be exactly what XRP needs to make a major rally.
