Cryptocurrency analyst Javon Marks remains unfazed despite the recent #XRP dip, maintaining his forecast of an imminent 400x price surge to the $288 territory.
XRP has continued to battle the bears amid the ongoing market turbulence. With the 23.9% collapse from April 11 to 13, XRP fell to the support at $0.4188, marking its lowest value since May 2023. However, XRP looked to recover the recent losses with a 5.12% rise on April 14.
XRP Suffers Dip Below $0.50
Nonetheless, this recovery was short-lived, as the bears retook control of the scene the next day. XRP is now 21.77% down this month, struggling to reclaim and hold above the $0.50 psychological territory in an effort to flip it from resistance to support.
Despite XRP’s struggles, analysts like Javon Marks remain unfazed, confident that its bullish trend is intact. In a recent analysis, the market watcher provided an updated outlook on XRP’s price action. According to him, the ongoing market downturn does not invalidate a previous breakout that XRP recorded last July.
For context, XRP had continued to trade underneath a downward trendline since it dropped from the all-time high of $3.31. Notably, an attempt to breach this trendline came up in April 2021 when XRP soared to the $1.96 level. However, resistance from the bears foiled this attempt, leading to a failed breakout.
The next attempt at a breakout occurred in July on the heels of the pivotal ruling in the SEC vs. Ripple case. XRP soared to $0.93 on July 13, 2023, successfully breaching the downward trendline and holding above it. However, the correction that ensued in August 2023 saw XRP retest the trendline.
