XRP Price Soars: Analyst Predicts Surge Beyond $200
February 26 2024 - 5:00AM
NEWSBTC
In spite of a slight adverse trend in the crypto market, XRP has
been gradually rising in recent days, fueling positive and bullish
predictions from market analysts to unprecedented heights. XRP
Might Rally To New All-Time High Sooner Than Expected Javon Marks,
a cryptocurrency expert and internet personality, has revealed his
optimism towards XRP, sharing a daring prediction regarding the
crypto asset’s future with the community on the social media
platform X (formerly Twitter). Related Reading: Crypto Analysts Are
Giga-Bullish On XRP Price, Set Multiple Price Targets According to
the crypto expert, XRP might be poised to undergo a significant
movement that will send prices to unprecedented heights, where he
highlighted that there is a possibility that XRP can rally beyond
the $200 price mark. Marks noted that the digital asset is
presently experiencing “another set of higher lows” that are
holding. In addition, he pointed out that “another breakout” has
taken place in the XRP chart. As a result of this, XRP could
witness “a massive upward movement” to New All-Time highs (ATHs),
which Javon Marks expects to commence soon. The post read: A $200+
XRP (Ripple) can be possible. Another set of Higher Lows are
holding and another breakout has taken place, meaning that a
massive upside move to new All Time Highs can be commencing soon.
The crypto analyst’s analysis aligns with a historical trend that
had previously occurred in 2018, sending XRP’s price to its current
ATH of $3.3. Prior to the surge, the token fell from the December
2013 high of $0.06, creating a bearish declining trendline. For
several years, XRP was below this declining trendline, with two
unsuccessful breakout trials during that timeframe. Nonetheless,
after failing to break out twice, the coin persisted and managed to
break out in 2017. After this breakout, it increased by over
63,000% to its present all-time high price of $3.3. Based on Mark’s
predictions, it indicates that this precise trend is manifesting
right now. However, some community members have expressed their
displeasure with the analyst’s projections. A pseudonymous X user
disagreed with Marks saying “It does not make any sense” given the
“basic tokenomics” of the crypto asset. The Crypto Asset Poised For
A Move Above $0.60 Cryptocurrency analyst Ali Martinez has
underscored the potential for XRP to move past the $0.60 price
mark. According to his post, Martinez’s position was influenced by
the observation made by the Tom DeMark (TD) Sequential. Related
Reading: XRP Price’s 7,000% Pump: Analyst Foresees Massive Move If
This Happens He stated that the TD Sequential indicator has formed
a buying signal on the token’s chart. Consequently, this indicates
a possible bullish momentum for XRP to move higher. He
further asserted that if it manages to maintain its weekly close
above $0.57, it could serve as a catalyst for an upswing to $0.63
or even further, setting his target at $0.65 As of the time
of writing, XRP was trading at $0.538, demonstrating a decline of
1.39% in the past day. Its market cap is down by 1.42%, while its
daily trading volume is up by over 4%, according to CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
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