Financial analyst Javon Marks has identified a strong RSI momentum in XRP, suggesting a bullish breakout with target prices of $15-$20 and potential returns of up to 2,000 percent. Marks highlighted this development in a recent X (formerly Twitter) post, noting an RSI pattern that indicates robust underlying momentum in XRP prices. According to Marks’ analysis, the RSI pattern has formed a series of lower highs and higher lows, indicating a potential upward breakout. If this occurs, Marks predicts a conservative target price range of $15 to $20 for XRP, which could result in a 20X-36X increase from the current value, equating to over a 2,000 percent gain. The long-term target suggested by the chart is approximately $19.82, reflecting a potential 2905.05% increase from the current price level.
In early 2018, XRP experienced a significant spike, reaching a price of approximately $3.84, marking a remarkable increase of about 2907.25% from its lower price points. Following this peak, the price entered a prolonged downtrend, stabilizing in mid-2020. During this consolidation period, XRP formed a symmetrical triangle pattern, indicating a potential breakout.
Marks has also made bolder predictions for XRP’s future price movements, envisioning a $200 price target. With the current value at $0.53, this forecast suggests a price surge of 37,635%. This projection is inspired by XRP’s historical rally in 2017/2018, where the cryptocurrency experienced a 75,000% increase following a breakout.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The views expressed in this article are the author’s personal opinions and do not reflect the opinion of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, and The Crypto Basic is not liable for any financial losses that may occur.
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