XRP Bullish Breakout Targets $15-$20; Analyst Predicts 2,000% Gains

Analyst Javon Marks sees strong RSI momentum in XRP, predicting a bullish breakout with target prices of $15-$20 and potential returns of up to 2,000 percent.

XRP is approaching a crucial moment as it nears a key convergence point identified through recent technical analysis. Financial analyst Javon Marks highlighted this development in a recent X (formerly Twitter) post, noting an RSI pattern that suggests robust underlying momentum in XRP prices. Marks believes this pattern indicates a potential bullish breakout in the near future.

Projected Price Targets

Marks’ analysis draws attention to the RSI pattern, which has been forming a series of lower highs and higher lows. This descending trendline in the RSI suggests a decrease in momentum as the price consolidates within a symmetrical triangle pattern on the chart.

Historically, this type of pattern often precedes a significant price movement, either upward or downward. In this case, the RSI pattern supports the potential for an upward breakout. Should the bullish breakout occur, Marks’ post further projects a conservative target price range of $15 to $20 for XRP, contingent on current market conditions.

“A conservative target for a breakout and logarithmic follow-through here could be $15-$20, which could result in a 20X-36X from here in a more than 2,000% run!”

This potential price surge represents a substantial increase, potentially yielding returns between 20 to 36 times the current value—an impressive gain exceeding 2,000 percent. The long-term target suggested by the chart is approximately $19.82, reflecting a potential 2905.05% increase from the current price level.

Historical Price Movements

According to Marks’ chart, XRP experienced a dramatic spike in early 2018, where the price of XRP/USD soared to approximately $3.84, marking an astounding increase of about 2907.25% from its lower price points.

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Following this peak, the price entered a prolonged downtrend, stabilizing by mid-2020. During this period of consolidation, XRP formed a symmetrical triangle pattern, a common indicator of an impending breakout.

Speculative Long-Term Forecasts

In addition to these projections, Marks has made bolder predictions regarding XRP’s future price movements. As reported by Crypto Basic, he envisions an ambitious $200 price target for XRP. With the current value at $0.53, this forecast implies an extraordinary 37,635% price surge. This projection draws inspiration from XRP’s historical rally in 2017/2018, where the cryptocurrency experienced a 75,000% increase following a breakout.