A crypto analyst has issued a bold price forecast for XRP, predicting a 42,000% breakout that could push the cryptocurrency beyond $250. Javon Marks, a crypto analyst, shared his views on X (formerly Twitter), suggesting that XRP could reach $263 if it experiences a bullish breakout today.
Marks bases his optimistic forecast on historical strategies and patterns, arguing that XRP is nearing the convergence point of a seven-year-old consolidation pattern. He believes this pattern has triggered multiple bullish signals, indicating strong potential for a significant breakout.
Despite the current price of XRP trading below $1, Marks remains confident. Ripple's recent legal victory against the SEC has led many analysts to become bullish about XRP’s future.
Analysts suggest that the regulatory clarity from the concluded Ripple and SEC case could trigger bullish momentum for XRP. At the time of writing, XRP is trading at $0.57, reflecting a 12.14% increase over the past week, according to CoinMarketCap.
Another analyst, Brett Hill, predicts that XRP’s long-awaited breakout from the 2018 to 2024 triangle pattern could push its price to $600. Hill cites a past event where XRP witnessed a massive surge as the basis for his prediction.
Providing a more conservative outlook, 'Dark Defender' identifies several price targets based on a Bullish Hammer Candle pattern. Dark Defender forecasts new price targets of around $1, $1.4, and $1.88 if current bullish trends continue.
