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XRP Bullish Breakout Targets $15-$20; Analyst Predicts 2,000% Gains – The Crypto Basic

Analyst Javon Marks sees strong RSI momentum for XRP and predicts a bullish breakout with a price target of $15-$20 and a potential return of up to 2,000%.

XRP We are approaching a key convergence point identified by recent technical analysis and approaching a key moment.financial analyst Javon Marks is highlighted This development was highlighted in a recent X (formerly Twitter) post pointing out an RSI pattern that suggests solid momentum in the XRP price. Marks believes this pattern signals the possibility of a bullish breakout in the near future.

XRP goes to $15
Image source: https://x.com/JavonTM1/status/1792653689750016430

Expected price target

Marks’ analysis draws attention to an RSI pattern that forms a series of lower highs and higher lows. This downtrend line on the RSI suggests that momentum is decreasing as the price is consolidating within a symmetrical triangle pattern on the chart.

Historically, this type of pattern often precedes larger price movements, either to the upside or downside. In this case, the RSI pattern supports a possible breakout to the upside. If a bullish breakout does occur, Marks’ post further predicts a conservative target price range for XRP of $15 to $20, subject to current market conditions.

“A conservative target for breakout and log follow-through here could be $15-20, and a 2,000%+ run could be 20-36x from here.”

This potential price increase represents a significant upside, potentially yielding gains of 20 to 36 times its current value, which is a staggering gain of over 2,000 percent. The long-term target implied by the chart is around $19.82, reflecting a potential upside of 2905.05% for him from current price levels.

Past price fluctuations

According to Marks’ chart, XRP experienced a dramatic rally in early 2018, with the XRP/USD price soaring to around $3.84, an impressive increase of around 2907.25% from the low price range.

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After this peak, prices entered a long-term downward trend and stabilized by mid-2020. During this period of consolidation, XRP formed a symmetrical triangle pattern, a common indicator of an impending breakout.

Speculative long-term forecasts

In addition to these predictions, Marks has made more bold predictions regarding XRP’s future price movements.as report According to Crypto Basic, he envisions an ambitious price target of $200 for XRP. Since his current value is $0.53, this prediction would imply an extraordinary price increase of 37,635% for him. This prediction is inspired by the historic XRP rally in 2017/2018, when the cryptocurrency experienced a 75,000% rally after its breakout.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. We encourage our readers to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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