A prominent crypto analyst has recently forecasted a dramatic surge in the price of XRP, suggesting that its rise above $3 is inevitable. Despite the cryptocurrency’s slow growth over the years testing the patience of many investors, the analyst remains confident that the underlying fundamentals and market conditions are aligning for a significant upward movement in the near future.
In an X post on Tuesday, the well-known crypto analyst Javon Marks shared his optimistic outlook, predicting that XRP is on the cusp of a substantial rally past the $3 mark. Marks pointed to recent price actions as indicators of a “massive bullish breakout” on the horizon. He emphasized that the current alignment of conditions and signs point towards a major price shift for XRP soon.
Marks backed his claims with a detailed analysis of XRP’s historical price movements, supported by an insightful chart. He noted that XRP formed a distinct triangle pattern beginning in 2014, peaking in 2017. After breaking out of this pattern, XRP experienced a dramatic surge, hitting new highs before a brief dip and then rallying to its all-time high of $3.84 in 2018.
According to Marks’ chart, XRP has recently formed another similar triangle pattern starting around 2018, which he projects will peak in 2025. Marks suggested that breaking out of this pattern could potentially spark a massive price increase, pushing XRP to new highs around $3.6 by 2025.
However, despite these promising projections, XRP has been under immense downward pressure in recent months. While other cryptocurrencies like Bitcoin and Ethereum have enjoyed significant price gains amidst favorable market conditions, XRP’s price has struggled to gain momentum. Current data from CoinMarketCap shows XRP trading at around $0.5, highlighting significant declines that have frustrated long-term holders and investors. Bitcoin has surged to $72,000, Ethereum to $2,670, and Shiba Inu to $0.0000188, while XRP’s price has declined by 0.37% over the last 24 hours and dropped by 18.61% over the past month.
XRP remains one of the worst-performing assets in the crypto space, as its price has failed to break the $1 mark since February 2022. This bearish trend and slow momentum can be attributed to the prevailing negative market sentiment towards XRP and the ongoing legal battles between Ripple Labs and the United States Securities and Exchange Commission (SEC).