XRP Could Soar to $100 With Just 4% Boost to Break a Resisting Trend That Has Lasted Over 2,400 Days
Analysts are predicting a significant breakout for XRP as it approaches a key technical point. Javon Marks highlights a potential 3-4% upside that could break XRP out of a 2,424-day resisting trend, signalling a bullish wave not seen since 2016-2017. Marks notes a long-term symmetrical triangle formation ongoing since XRP’s 2017 bull run.
Javon’s Chart Signalling Bullish Wave
Marks’ chart indicates that XRP’s price is nearing the apex of this symmetrical triangle. A measured move target based on the height of the consolidation suggests a potential over 42,000% increase, potentially adding $262 to its current price. This potential surge is reminiscent of the rally observed in 2017 after an extended period of consolidation.
Read Also: Terra Classic: A New Proposal for Enhanced Security and Accessibility
Recent price activity has shown that XRP temporarily broke out, albeit a false breakout. However, Marks observes bull divergences in both Price Action and the RSI, suggesting a more convincing bullish move could be imminent. Marks projects a conservative target of $15-$18 with a successful breakout, potentially leading to a 2,100% gain for XRP. He further emphasizes that a full logarithmic scale follow-through could push XRP prices to over $100, representing a more than 20-fold increase.
Analyst Mack Stance on XRP
Meanwhile, pseudonymous analyst Mack Attack draws comparisons to XRP’s performance during the 2017 bull run, projecting a potential surge to $456 in the 2024/2025 bull run. Mack Attack highlights the ongoing bullish sentiment on social media platforms as a likely driver for another bull run for XRP.
Analyst Aryan lists XRP among his top picks for substantial gains in this cycle, estimating a potential 3,233% surge to reach $20. This bullish forecast is anchored on XRP potentially riding the wave of Bitcoin’s potential rise to $500K, despite currently trading 84% below its all-time high.
Read Also: XRP Price Swings Deemed Insignificant Amid Early Crypto Volatility, According to Industry Leader
Follow us on Twitter, Facebook, Telegram, and Google News
Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
