Cryptocurrency analyst predicts massive growth price breakout for XRP pricenative token XRP Ledger (XRPL). Despite Leisurely XRP Price ActionThe analyst believes the cryptocurrency could see its value augment by as much as 42,263%, potentially reaching an ambitious price target of $280 during this bullish cycle.
Roadmap to $280 XRP Price Hike
WX (formerly Twitter) fasting On August 22, cryptocurrency analyst Javon Marks expressed his confident forecasts for XRPhighlighting critical points where the cryptocurrency is most likely to experience significant growth. Sharing a historical price chart illustrating XRP Price Fluctuations from 2014 to 2024, Marks outlined a unique triangle pattern that formed just before the cryptocurrency’s bullish breakout.
Based on the chart data, the XRP price has formed triangle pattern between 2014 and 2017which led to its surge to an all-time high of $3.84 in 2018. Marks noticed this triangle pattern recurring on the XRP chart between 2018 and 2024.
As a result, the analyst predicts that XRP is on track to grow by 42,263%, which could potentially push its price up to ambitious goal of $262.23. Given the current XRP price of $0.59, a projected augment of 42,263% would put the cryptocurrency’s price at around $253.15.
In his post, Marks notes that XRP was at or near the point bullish breakout. He predicted that if the price of XRP increases by around 3% to 4% from its current price level, it could trigger the expected breakout. The analyst remains confident about the future prospects of XRP, but also noted that the cryptocurrency has been stuck in a triangle pattern for about 6 years (2424 days).
However, Marks revealed that if XRP manages to successfully break out of this long-term pattern, it could attract a significant amount of willing buyers, potentially triggering a sturdy bullish presence not seen since 2016-2017.
XRP Price Analysis Update
The price of XRP seems to have no end Consolidation Phase for the past few years, consistently hovering around the $0.50 price. After the nearly four-year legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) ended, XRP saw a huge price augment which caused its price to exceed USD 0.6.
Although the cryptocurrency’s price has risen by 6% over the past week, XRP is still on the rise failed to stay above the level of USD 0.6According to CoinMarketCap, the cryptocurrency is currently trading at $0.598, which represents a slight augment of around $0.23% in the last 24 hours.
Cryptocurrency analyst and XRP advocate known as “Captain XRP” illuminated a up-to-date technical pattern observed on the 4-hour (4H) price chart of XRP. The analyst has identified this pattern as a “bull flag,” predicting that if XRP manages to break out of this unique bull pattern, the price could rally towards a target of $0.65.
Featured image created with Dall.E, chart from Tradingview.com
