Crypto analyst Javon Marks remains bullish on XRP even after the price recently dropped below $1.3. The analyst argued that the cryptocurrency’s long-term technical picture points to potential growth up to… double-digit territory. According to Marks, XRP’s bullish roadmap towards $15 remains unchanged, underscoring his mighty belief in the altcoin’s ability to break through the threshold prevailing bearish trends.
XRP’s double-digit price target remains unchanged
He shares his perspective on X, Marx he said supporters that XRP’s measured target move of around $15 remains unchanged, which he rejects recent price weakness as a short-lived setback within a much larger bullish pattern. The accompanying chart covers over a decade of XRP price history, stretching from roughly 2014 to a projected timeline stretching all the way to 2026.
Marx’s analysis highlights a repeating pattern that has occurred over many market cycles. In any case XRP has formed a descending triangle or wedge formation and then experienced a drop below a key support level, which the analyst identified as “false division” XRP then began a massive parabolic rally, reaching recent all-time highs.
This sequence of wedge formation and subsequent false collapse occurred notably in 2017 and again in 2021, each time causing a remarkable raise in the price of XRP. According to Marks, the breakout that occurred in delayed 2024, when XRP rose from around $0.55 to over $2.2, mirrors the 2017 spike that preceded final bull rally to $3.84 in 2018.
He claims that this development indicates another tenfold move in this cycle, representing a more than 900% raise in the price of XRP. The chart also indicates that the top target is between $15 and $18, with the vertical measurement bar illustrating a potential upside of approximately 2872.31%.
Analysts remain bullish on XRP while whales go long
Analyst confidence in the XRP price remains high despite increased market volatility and recent price declines. It is worth noting that market expert Steph is Crypto identified many years’ Cup and handle pattern on its chart, which could trigger a historic raise in the price of XRP.
According to the analyst, the uptrend line above the pattern indicates a projected raise to the $4 level. This price zone is being pointed to as a key resistance area, and a mighty move above it could push XRP towards it next target above $30.
Interestingly, Steph’s bullish outlook for XRP comes as whales continue to go long the cryptocurrency. Latest reports from market expert Xaif Crypto reveal that the whale opened a massive $3.34 million position on XRP. He noted that the whale had $193,000 in capital with a margin of 104%, essentially going all-in with no safety net.
This move highlights the whale’s mighty belief in XRP’s bullish potential. However, Xaif Crypto warned that if XRP falls to $1.37, the whale could lose everything. It is significant to remember that The price of XRP has already dropped below $1.30 and is currently close to $1.28 as of this writing.
Featured image from Vecteezy, chart from TradingView
