Crypto analyst Javon Marks has shared insights on X regarding XRP’s price action and potential future movements. Marks points out that XRP recently experienced a temporary breakout, which appears to have been unsuccessful.
However, he notes that current patterns in both price action and the Relative Strength Index suggest a bullish breakout may still be on the horizon.
XRP Price Prediction
In his analysis, Marks outlines conservative price targets for XRP in the event of a successful breakout.
He suggests that XRP could potentially reach levels between $15 and $18, representing a climb of over 2,100% from its current price.
$XRP recently broke out temporarily which looks to have been only an attempted breakout but, between Price Action and the RSI, there are patterns still present through bull divergences that can suggest a successful bullish breakout to be on the horizon!On a conservative note,… https://t.co/BCrp9CwT6i pic.twitter.com/XGGiv0nBDp
— JAVON MARKS (@JavonTM1) August 6, 2024
This projection is based on his interpretation of current market indicators and patterns. Marks goes further in his analysis, discussing the possibility of even higher price points.
He references “Full Logarithmic Scale Follow-Throughs” that have been observed in the market multiple times. Based on these observations, Marks implies that XRP could potentially surpass $100, marking an increase of more than 20 times its current value.
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Show more +Show less – Levels of Market Complexity
The analyst emphasizes the complexity of crypto price movements, stating, “There are levels to this game.” He suggests that based on his experience, the potential price levels for XRP may exceed many investors’ expectations.
To emphasize his point, Marks quotes Nelson Mandela: “It always seems impossible until it’s done.”
Marks’ analysis presents a highly optimistic outlook for XRP’s future price action. His projections, while speculative, are based on his interpretation of current market patterns and historical observations.
Per CoinGecko data at press time, XRP trades at $0.5168. The token has had a price appreciation of 9.12% in the last day.
Read also: Why Cardano Holders Are in Big Trouble as ADA Price Dips
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