Von Marks, a renowned online figure and cryptocurrency expert, recently shared an analysis of the XRP price trajectory.
The seventh largest crypto asset has been consolidating around the $0.5 price region, possibly in preparation for the bull season expected to be led by the Bitcoin halving estimated to play out in April.
At press time, XRP is trading at $0.58, with a relative 6% price upsurge in the last 24 hours, according to CoinMarketCap.
XRP’s Unprecedented Rally Is Imminent
In a post on X, Javon shared an analysis about XRP surpassing $200. Mathematically, XRP to $200 from the current price implies a surge of about 34,382%.
For someone with a basic knowledge of the crypto market principles, the surge above appears quite ridiculous for a short-term target, which is the case for the analysis shared by Javon.
Explaining why he is unusually bullish on XRP, the crypto expert noted that another set of higher lows is holding, and another breakout just happened. According to Javon, the persevering higher lows and the just concluded breakout are indications that XRP is on the path to attaining a new all-time high, possibly above $200 soon.
Javon’s Latest Analysis Parallels Historical Trend
As with most crypto analyses, historical trends tend to be often involved. As usual, Javon cited trends from 2013 to early 2018.
XRP attained its all-time high (ATH) in January 2018 after spiking by more than 60,000% to reach $3.81. Before the ATH played out, the digital asset had witnessed a bearish decline for almost four years.
Between December 2013 and 2017, the digital asset attempted to break out twice, failing on both occasions. Its persistence eventually paid off, leading to beating the resistance around late 2017.
Comments And Reactions From the XRP Community
As expected, Javon’s analysis was greeted with reactions by the crypto community members, especially the XRP enthusiasts.
An X user argued that the presentation lacked real-life application as it entails an XRP market cap that will skyrocket to around $200 trillion.
Another user asserted that a $200 price target would take about 50 years. He noted that the focus should be on how to break above $1.
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