Crypto analyst Javon Marks remains bullish on XRP even after the recent price crash below $1.3. The analyst argued that the cryptocurrency’s long-term technical picture points to a potential upside well into the future double digit area. According to Marks, XRP’s bullish roadmap towards $15 remains unchanged, underscoring his strong confidence in the altcoin’s ability to move past. prevailing bearish trends.
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XRP double-digit price target remains unchanged
Marks shares his view on X told According to followers, XRP’s measured movement target, around $15, remains firmly intact, which is declining recent price weakness as a temporary setback within a much larger bullish structure. His accompanying chart covers over a decade of XRP’s price history, stretching from around 2014 to a projected timeline stretching well into 2026.
Marks’ analysis highlights a recurring pattern that has played out across multiple market cycles. Anyway XRP formed a descending triangle or wedge formation and then experienced a downturn below a key support level, calling the analyst a “false breakdown.” Following this, XRP launched a powerful parabolic rally to new all-time highs.
Notably, this sequence of wedge formation and subsequent false collapse occurred in 2017 and again heading into 2021, each time producing extraordinary gains in the price of XRP. According to Marks, the breakout that occurred in late 2024, when XRP rose from around $0.55 to over $2.2, mirrors the 2017 jump that preceded it. a final bull rally to $3.84 in 2018.
He states that this development indicates another tenfold move in this cycle, representing a more than 900% increase in the XRP price. The chart also projects a peak target somewhere between $15 and $18, with a vertical bar illustrating a potential upside of approximately 2,872.31%.
Analysts Remain Bullish on XRP as the Whales Go Long
Analyst confidence in the XRP price remains strong despite broader market volatility and recent price declines. It is striking that market expert Steph has Crypto identified a perennial Head and handle pattern on the chart, this could cause a historic rise in the price of XRP.
According to the analyst, the upward trend line above the pattern points to an expected rally towards the $4 level. This price zone is highlighted as a key resistance area, and a decisive move above it could push XRP towards its level next target above $30.
Interestingly, Steph’s bullish outlook for XRP comes as whales continue to go long on the cryptocurrency. Recent reports from market expert Xaif Crypto reveal that a whale opened a huge $3.34 million long position on XRP. He noted that the whale had equity of $193,000 with a 104% margin, essentially going all in with no safety net.
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This move underlines the whale’s strong confidence in XRP’s bullish potential. However, Xaif Crypto has warned that if XRP falls to $1.37, the whale could lose everything. It is important to note that the XRP price has already fallen below $1.3 and is now around $1.28 at the time of writing.
Featured image from Vecteezy, chart from TradingView