Cryptocurrency analyst Javon Marks has sent ripples through the XRP community with a bold prediction: the price of XRP could skyrocket to a staggering $200. This would be a historic comeback for the token, mirroring its meteoric rise in 2017, when it reached a peak of $3.84.
Marks hinges on his bullish outlook on several technical indicators. He identifies a symmetrical triangle pattern forming on XRP’s chart, a pattern often associated with price continuations. Additionally, he points to a hidden bullish divergence, where the price dips lower while the RSI (Relative Strength Index) remains stable, suggesting a potential price surge.
This optimistic forecast finds support from other analysts. “Mikybullcrypto” highlights the uncanny resemblance of XRP‘s current price action to its 2017 rally, particularly the bullish RSI divergence. Analyst Armando Pantoja focuses on the immediate price action, emphasizing the importance of XRP holding above $0.46. He predicts a short-term jump to $0.57 if this level holds, potentially reaching $2 and beyond.
However, XRP’s path to glory is not without hurdles. The broader market volatility and the ongoing regulatory battle between Ripple and the SEC cast a shadow on XRP’s future. The recent crypto market meltdown triggered by concerns over mass Bitcoin sell-offs further complicates the situation. At the time of writing, XRP is trading at $0.4484, showcasing a slight recovery from a flash crash earlier in the day.
Despite the challenges, the XRP community remains hopeful. A favorable outcome in the SEC lawsuit could pave the way for wider adoption and a subsequent price increase. Whether XRP will echo its 2017 performance or succumb to market pressures remains to be seen. One thing is certain: the coming months will be crucial for XRP’s future trajectory.
