Crypto analyst JAVONMARKS has identified a potential 7-year pattern in XRP’s price chart, suggesting a massive upside for the digital asset. The analyst’s bold XRP prediction points to a possible surge to $263, representing a 42,000% increase from current levels.
XRP’s Long-Term Consolidation
JAVONMARKS highlighted XRP’s nearly 7-year consolidation period on Twitter. He noted that the asset is approaching a convergence point, displaying multiple bullish signals throughout this extended timeframe.
Besides, this prolonged consolidation phase could set the stage for a breakout. The analyst’s visual representation indicates that a bullish breakout could propel XRP to approximately $263.
$XRP's target for this visual, if a bullish breakout were to take place today, with a Full Logarithmic Follow-Through is to be at approximately $263, suggesting from breakout areas, an over 42,000% upside.XRP is nearing the converging point of a near 7 Year… pic.twitter.com/z3VbCXtC94
— JAVON MARKS (@JavonTM1) August 13, 2024
Additionally, this projection is based on a full logarithmic follow-through from the current breakout areas. JAVONMARKS emphasized that similar strategies have yielded successful results in the past.
Despite the optimistic long-term outlook, XRP’s recent performance has been lackluster. According to CoinGecko data, XRP is trading at $0.5653, down 1.90% in the last 24 hours and 8.60% over the past week. The asset’s daily trading volume stands at $1,243,205,788.
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Show more +Show less – Bullish Signals and Potential
JAVONMARKS believes that XRP has displayed multiple bullish signals throughout its consolidation period. He suggests that a bullish breakout is more than possible, given the current market conditions and historical patterns.
The analyst encourages investors to consider the full potential of XRP. He states, “We toned it down a bit in prior posts for others but to live for others and not yourself can be to not truly live to your full potential.” This sentiment highlights his belief in XRP’s long-term prospects.
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