Crypto analyst Javon Marks sees the price of XRP rise up over $3, but he has made a bullish prediction for it. Market data from recent days signals a ‘massive bullish breakout’ for the crypto, Marks said in a post on X (formerly Twitter).
Although XRP has shown very slow growth and plenty of challenges, he thinks the fundamentals and market dynamics are now aligned to come back strong. Marks shared a chart in detail, which depicted a triangle pattern which emerged in XRP’s price history.
XRP Facing Downward Pressure
He said the same happened 2014 to 2017, with XRP surging to its all time high of $3.84 in 2018. Now he is suggesting a similar pattern that would begin in 2018 hit a peak in 2025, which would only see XRP get to new highs of around $3.6.
However, Ripple has felt such substantial downward pressure over the past few months. Cryptocurrencies like Bitcoin, Ethereum, and Shiba Inu have made big gains, but Ripple has gained no traction. According to data from CoinMarketCap, Ripple was trading around $0.50, down 0.37 percent in the last 24 hours, and down 18.61 percent in the last month.
Since February 2022, Ripple has plummeted below $1 and sat among the worst performing crypto assets of 2023. One of the reasons for this sluggish performance is that in the market, sentiment towards the coin is negative and there are legal battles between Ripple Labs and the U.S. Securities and Exchange Commission.
