XRP, historically one of the worst year-to-date performers among the top 10 largest cryptocurrencies by market cap, may be on the brink of a significant rally, according to renowned crypto analyst Javon Marks. Marks has pointed to recent price actions that suggest a potential major turn in XRP’s trajectory, reminiscent of its remarkable rise from 2016 to 2017.
Javon Marks, in a recent post, highlighted signals for a potential bullish surge for XRP, drawing parallels to its prior ascent from approximately $0.0066 to over $3.30. He pointed out what he sees as a “Hidden Bullish Divergence” on XRP’s chart—a technical indicator that implies the current price movement is an anomaly and that a substantial price increase could soon follow. A bullish divergence typically occurs when the price of an asset makes a new low, but the momentum indicator starts to climb, suggesting that the downward trend is losing its strength and could soon reverse.
Marks expressed strong confidence in XRP’s imminent market behavior, predicting that we might soon witness another extraordinary performance similar to its historical rise. He wrote, “XRP is still, right now, showing signs that mirror its 2016-2017 action where prices soared nearly +50,000% from ≈$0.0066 to over $3.30! This means that we can be on the cusp of witnessing another extraordinary unimaginable performance and showcase of strength from XRP and Ripple, unfolding in ANY MOMENT now. History may not always repeat exactly, but it often rhymes, and the ‘songs’ that XRP and Ripple are ‘playing’ can be carrying some of the greatest lyrics.”
The potential resurgence of XRP’s market is also framed by its ongoing legal battles and regulatory challenges, particularly with the US Securities and Exchange Commission (SEC). The prolonged legal confrontation, which began in December 2020, accused Ripple Labs of selling XRP as an unregistered security. Following extensive legal proceedings, a recent federal court ruling ordered Ripple to pay $125 million—a significantly reduced amount from the $2 billion initially sought by the SEC—bringing a crucial part of the litigation to a close.
Judge Analisa Torres of the Southern District of New York delivered this ruling in July 2023, concluding that while Ripple had violated securities laws in its direct institutional sales, it did not break the law in its dealings that placed XRP onto exchanges accessible by retail investors. This partial victory for Ripple has been viewed favorably by the market, providing a clearer regulatory framework and potentially reducing the uncertainty that has surrounded XRP’s future.
According to Marks’ outlook, this legal resolution might be the catalyst XRP needs to finally achieve a major rise. The recent developments, both in market conditions and legal clarity, suggest the cryptocurrency could be on the verge of substantial growth, much to the anticipation of its investors and the broader crypto community. XRP’s price movements will be closely watched as the market looks for signs of this predicted historic rally.
