Crypto analyst Javon Marks has expressed his confidence in XRP’s potential for a significant rally, predicting that the altcoin could reach an all-time high of $200. Marks has based his hypothesis on various technical indicators, as XRP struggles to maintain its position above critical support levels.
With many XRP investors closely following the ongoing Ripple v. SEC case, Marks believes that key technical indicators could offer a bullish outlook for the altcoin. He highlights that these indicators present XRP investors with the possibility of a 360-fold return on their investment.
Marks points to the Pennant/Coil pattern as an indicator that the price of XRP is approaching a potential breakout point. He also notes a bullish divergence between the Relative Strength Index (RSI) and price, suggesting underlying strength despite recent price fluctuations. If Marks’ prediction is accurate, XRP could experience a substantial rally to $200 from its current price.
Marks explains, “This pattern (Hidden Bull) can also indicate the continuation of the preceding trend, which in this case is a massive one, as prices of XRP have climbed over 110,000%!” He suggests that a bullish breakout, combined with this divergence, could trigger another monumental climb, potentially resulting in an upside of over 36,000% into the $200s.
Considering XRP’s strong historical performance, with gains exceeding 1110 times its value, Marks believes that a breakout and a 360-fold increase are realistic possibilities. This would also translate to an $11 trillion market cap, making XRP potentially one of the largest cryptocurrencies and comparable to tech giants like Microsoft (MSFT), Apple (AAPL), and Nvidia (NVDA).
However, Marks acknowledges that the outcome of the Ripple v. SEC case could either trigger or hinder this underlying bullish momentum. Ripple Labs has recently mounted a robust legal defense against the SEC’s claims, challenging two key arguments put forward by the regulatory body.
Other significant developments within the Ripple ecosystem and the XRP Ledger could also play a crucial role in the adoption and growth of XRP. Ripple is set to launch a central bank digital currency (CBDC) platform and is preparing to challenge Chainlink with the introduction of Oracles. These developments, along with the company’s ambitious vision for institutional DeFi on the XRP Ledger, are expected to redefine the decentralized finance landscape.
Currently, XRP is trading at $0.52, reflecting a 2% rally in the past 24 hours. However, the digital asset has experienced a 3% decline over the past week. Despite struggling to break out from its current level, indicators like the RSI (46.6) and the Commodity Channel Index (CCI) (-36) suggest that XRP is not oversold, leaving room for further growth in this bull run.