Despite some unfavorable trends in the cryptocurrency market, XRP It has risen gradually in recent days, pushing the positive and optimistic forecasts of market analysts to unprecedented levels.
XRP may hit all-time highs sooner than expected.
Javon Marks, a cryptocurrency expert and internet personality, expressed his optimism about XRP. dividing Together with the community on social media platform
XRP may be ready to undergo a significant move that will push its price to unprecedented heights, according to a cryptocurrency expert, highlighting the possibility of XRP rebounding past the $200 price.
Marks noted that digital assets are experiencing “another higher low” that they are currently maintaining. In addition, he said, “Another breakout“occurred on the XRP chart.
As a result, XRP could witness a “massive upward move” to a new all-time high (ATH), which Javon Marks expects to begin soon.
Here is the post:
XRP (Ripple) above $200 may be possible. Another high low held and another breakout occurred. This means that a major upward move towards new all-time highs could begin soon.
The cryptocurrency analyst’s analysis is consistent with historical trends that previously occurred in 2018. Price of XRP The current ATH will change to $3.3. Prior to the surge, the token had fallen from its December 2013 high of $0.06, forming a bearish downtrend line.
XRP has been below this downward trend line for several years, with two failed breakout attempts during that period. Nonetheless, after two failed breakouts, the coin persisted and achieved a breakout in 2017.
Since this breakout, it has risen more than 63,000% to its current all-time high of $3.3. Mark’s predictions indicate that this exact trend is happening right now.
However, some community members expressed dissatisfaction with the analysts’ predictions. Anonymous user X disagreed with Marks. Proverb “It doesn’t make sense” considering the “underlying token economics” of cryptocurrency assets.
Crypto Asset to Rise Above $0.60
Crypto analyst Ali Martinez highlighted the possibility of XRP surpassing the $0.60 price. According to him postMartinez’s position was influenced by the observations of Tom DeMark (TD) Sequential.
He said that the TD Sequential indicator has formed a buy signal on the token’s chart. As a result, this presents the following possibilities: bullish momentum So that XRP can go higher.
He also argued that if it holds the weekly close above $0.57, it could act as a catalyst for a rise above $0.63, setting a target of $0.65.
At the time of writing, XRP is trading at $0.538, down 1.39% over the past day. According to CoinMarketCap, market capitalization decreased by 1.42% while daily trading volume increased by more than 4%.
Featured image from iStock, chart from Tradingview.com
Disclaimer: This article is provided for educational purposes only. This does not represent NewsBTC’s opinion on whether to buy, sell or hold any investment, and of course investing carries risks. We recommend that you do your own research before making any investment decisions. Your use of the information provided on this website is entirely at your own risk.