Cryptocurrency Analyst Predicts Massive Crash XRP price risethe native token of XRP Ledger (XRPL). Although Slow XRP Price PerformanceThe analyst believes that this cryptocurrency could rise by 42,263%, and could reach an ambitious price target of $280 in this bullish cycle.
Roadmap for $280 XRP Price Increase
In X (formerly Twitter) mail On August 22, cryptocurrency analyst Javon Marks expressed, Optimistic expectations for XRPhighlighting critical points where the cryptocurrency is likely to see significant upward momentum. Share a historical price chart showing XRP Price Movements From 2014 to 2024, Marks drew a unique triangle pattern that formed before a bullish breakout in the cryptocurrency.
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Based on the chart data, the price of XRP has formed Triangle pattern between 2014 and 2017leading to its dramatic rise to an all-time high of $3.84 in 2018. Marks identified this triangle pattern as appearing again on the XRP chart from 2018 to 2024.
As a result, the analyst expects that XRP is on track to see a 42,263% surge, which could push its price to ambitious goal XRP price is expected to rise by 42263% to around $253.15. Considering the current price of XRP which is $0.59, this expected 42263% increase would take the price of the cryptocurrency to around $253.15.
In his post, Marks noted that XRP was at or near a certain point. bullish breakoutHe predicted that if XRP price rises by 3% to 4% from its current level, it could lead to the expected breakthrough. While the analyst remains optimistic about the future prospects of XRP, he also noted that the cryptocurrency was Stuck in triangle pattern for about 6 years (2,424 days).
However, Marks revealed that if XRP can successfully break out of this long-term pattern, it could attract a significant amount of buying interest, potentially sparking a strong “bullish presence” that we haven’t seen since 2016-2017.
XRP Price Analysis Update
XRP price has been on a seemingly endless trend. Unification stage Over the past few years, it has been trading around $0.5. After the nearly four-year court battle between Ripple and the U.S. Securities and Exchange Commission (SEC), XRP has seen a massive price surge. Which pushed it to trade above $0.6.
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Although the cryptocurrency saw a 6% price increase over the past week, XRP continued to rise. Failed to stay above $0.6The cryptocurrency is currently trading at $0.598, having seen a slight increase of around 0.23% in the last 24 hours, according to CoinMarketCap.
Cryptocurrency analyst and XRP supporter identified as “XRP Captain” Spotlight A new technical pattern has been observed on the 4-hour price chart of XRP. The analyst has identified this pattern as a “bullish flag” and predicted that if XRP can break out of this unique bullish pattern, the price could rally to a target of $0.65.
Featured image created using Dall.E, chart from Tradingview.com