Analyst Javon Marks just posted a viral XRP chart to his 50k followers on X, formerly Twitter. He sparked enthusiasm among the XRP community with his new price forecast of $100+.
As a reminder, the current XRP price is just slightly above $2.4. “Simple and Straightforward, $XRP’s Fib Levels hint at a move to $100+ with $16+ coming up next and quickly!” Marks wrote in his viral post.
The XRP chart shared by Marks focuses heavily on Fibonacci patterns – a popular technical analysis tool among crypto traders. His analysis shows the XRP price following a strong upward trend, marked by a notable green ascending trendline. This bullish pattern emerged after breaking through a previous downward trend, suggesting a significant shift in market momentum.
Looking at key Fibonacci levels, XRP has already shown interesting behavior around the 1.0 and 2.272 levels. During the 2017 bull run, XRP reached a peak near the 2.272 Fibonacci level, approximately $3. The current price action suggests XRP is approaching the next significant Fibonacci extension level of 2.414, which corresponds to roughly $16 – Marks’ first major target.
The analysis identifies several wave patterns that align with Elliott Wave theory, a method traders use to predict market movements. These patterns, combined with the Fibonacci levels, form the basis of Marks’ ambitious longer-term target of $100+. The chart suggests that if the XRP price remains in its current trajectory and follows similar patterns to previous market cycles, higher price levels could be possible.
Key takeaways:
- A bullish breakout is underway, targeting $16 in the short term.
- The long-term projection of $100+ is ambitious but theoretically plausible if XRP follows previous market cycles and Fibonacci dynamics.
It’s worth noting that while historical price movements show explosive rallies after breaking key Fibonacci levels, past performance doesn’t guarantee future results. Adding to the speculation, some crypto lawyers are hinting at a potential XRP vs SEC case resolution in April/May 2025, which could provide additional momentum to XRP’s price action.
Read also: Best New Altcoins to Buy: 5 Cryptos Ready to Explode 10x in 2025 – XRP Is NOT on the List!
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