Despite a slightly unfavorable trend on the crypto market, XRP has gradually risen in recent days, pushing positive and bullish predictions from market analysts to unprecedented heights.
XRP could soar to a new all-time high sooner than expected
Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism about XRP. to share a bold prediction about the future of the crypto asset with the community on the social media platform X (formerly Twitter).
According to the crypto expert,
Marks noted that the digital asset is currently experiencing “a new set of higher lows” that are holding. Moreover, he pointed out that “another break out” has occurred in the XRP chart.
As a result, XRP could witness “a massive upside move” to New All-Time Highs (ATHs), which Javon Marks expects to begin soon.
The message read:
A $200+ XRP (Ripple) could be possible. A new set of higher lows is holding and a new breakout has occurred, meaning a massive upward move to new All Time Highs could begin soon.
The crypto analyst’s analysis is consistent with a historical trend that had occurred earlier in 2018, i.e. XRP price to the current ATH of $3.3. Prior to the peak, the token fell from its December 2013 high of $0.06, creating a bearish descending trendline.
For years, XRP was below this descending trendline, with two failed breakout trials during that period. Nevertheless, after failing to break out twice, the coin held on and managed to break out in 2017.
After this breakout, the price rose by over 63,000% to the current all-time high of $3.3. Based on Mark’s predictions, this indicates that this precise trend is currently manifesting.
However, some community members have expressed dismay over the analyst’s projections. A pseudonymous X user disagreed with Marks proverb “It doesn’t 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 highlighted the potential for XRP to push past the $0.60 price barrier. According to his afterMartinez’s position was influenced by the observation of the Tom DeMark (TD) Sequential.
He stated that the TD Sequential indicator has formed a buy signal on the token chart. So this indicates a possibility bullish momentum so that XRP can go higher.
He further claimed that if it manages to keep the weekly close above $0.57, it could serve as a catalyst for a rise to $0.63 or even further, setting his target at $0.65.
At the time of writing, XRP was trading at $0.538, showing a decline of 1.39% in the past day. According to CoinMarketCap, the market capitalization has fallen by 1.42%, while daily trading volume has increased by more than 4%.
Featured image from iStock, chart from Tradingview.com
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