As a well-known supporter in the Bitcoin space and a core figure who has long been bearish on XRP, Davinci Jeremie recently provided a clear mid-term price target as XRP rose to the critical $3 level. This statement starkly contrasts with his past negative stance on XRP and adds new variables to the current long-short game surrounding XRP.
I. XRP breaks through the weekly 'W pattern': key technical signals support a short-term bullish outlook
Currently, XRP is testing the $3 level again, which is not only an 'emotional watershed' for investors but also signifies the completion of a critical technical pattern construction - the weekly 'W pattern'. Looking back at the formation process of this pattern, we can clearly see the oscillation bottoming path of XRP:
First round of correction (January - April 2025): XRP fell from a peak of $3.4 in January, touching a low of $2.11 in April, completing the construction of the left bottom of the 'W pattern';
Second oscillation (April - June 2025): It subsequently rebounded to $2.65 before dipping again, falling to around $2 in June to form the right bottom, thereby officially establishing the double bottom structure of the 'W pattern';
Breakthrough confirmation (from June 2025 to present): Recently, the XRP price has been on the rise, not only breaking through the $3 mark but also standing above the previous high of $3.4 in January, marking the official breakout of the 'W pattern' and releasing a clear bullish signal from a technical perspective.
Notably, Jeremy specifically pointed out that the price trend in this round of the 'W pattern' has a 'naturalness' — fundamentally different from the 580% surge during the period from November 2024 to January 2025. He has previously hinted multiple times that the extreme rise at the end of 2024 showed signs of human manipulation, while the current process from oscillation bottoming to breakout aligns more with the spontaneous supply and demand game logic of the market.
II. Technical analysis anchors short-term targets: Fibonacci extension points to $4.93
Based on the technical premise of XRP breaking through the 'W pattern', Jeremy used the 'Fibonacci extension from the pattern bottom' model for calculation: taking the 'W pattern' double bottom (at $2.11 and $2) as the base range and adding the 1.618 times Fibonacci extension level, the first target price is calculated to be $4.93 (corresponding to the mentioned 4555 pesos conversion value).
He further assesses that XRP may briefly break through this threshold, touching around 47,000 pesos (approximately the $4.9-$5 range) before experiencing a phase correction — this suggests that XRP will launch an attack towards the $5 threshold shortly, providing an approximate 60% upside potential from the current $3 level.
III. Position reversal: From 'bearish to zero' to 'mid-term looking at $24', driven by momentum rather than fundamental recognition
Jeremy's recent short-term target of nearly $5 for XRP is not the first time he has softened his stance. Looking back at the evolution of his views, a clear path of 'from resolutely bearish to cautiously optimistic' can be seen:
Long-term bearish phase: For many years, he has defined XRP as a 'quasi-stablecoin', even predicting multiple times that its price would fall to zero, believing that XRP lacks core technological value and ecological support;
First shift in stance (January 2025): After XRP achieved a 580% surge and broke through $3 from November 2024 to January 2025, Jeremy changed his position for the first time, suggesting that 'XRP may rise to $20-24 within this cycle,' but emphasized that this judgment is based only on 'market cycle momentum,' and not on new confidence in XRP's fundamentals (such as ecology and application scenarios);
Position maintained (April 2025): Even though XRP's price fell below $3 in April and once dipped to the $2 support level, he still insists on the optimistic forecast of 'reaching $24 before the end of the year', believing that short-term corrections do not affect the upward trend of the cycle;
Current statement (recently in 2025): The proposal of a short-term target of $4.93 has not clearly indicated whether it is a preliminary stage for the 'big target of $24', but based on his past logic, it is highly likely that $5 will serve as a 'temporary stop' in the mid-term upward cycle.
However, Jeremy has not completely abandoned his long-term doubts about XRP. In his statements in January and April this year, he repeatedly emphasized that even if he acknowledges XRP's short-term upward momentum, he does not consider it a 'safe long-term investment target' — the core concerns still focus on the ecological practicality of XRP, its degree of decentralization, and the sustainability of regulatory compliance.
IV. Market significance of the $3 threshold: The intersection of technical breakthroughs and emotional games
Currently, XRP has stabilized at $3, which is not only a technical confirmation signal of the 'W pattern' breakout but also a 'touchstone' for market sentiment: previously, after XRP peaked at $3.4 in January 2025 and then retreated, $3 became a 'concentrated area of trapped positions'. This breakthrough means that the previously trapped high positions are gradually being freed, and the risk of selling pressure is being released in stages; at the same time, $3 is also the 'decision critical point' for institutional funds — according to on-chain data, when XRP stabilizes at $3, the net outflow from exchanges reached 448 million coins, and whale addresses increased their holdings by 310 million coins, indicating that institutions are starting to accumulate in anticipation of further price increases.
The near $5 target set by Jeremy undoubtedly injects new optimism into the market, but caution is also needed regarding his prediction of 'rising first and adjusting later': if XRP surges to the $4.7-$5 range, it may trigger some short-term profit-taking, combined with the futures liquidation cluster near $4.9 (according to derivative data, there is about $800 million in long liquidation pressure in this range), which could lead to a phase correction.
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