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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Is XRP on the Brink of a 50,000% Rally? Signs Point to Yes, Says Top Analyst

Samuel Edyme
Samuel Edyme
1 year ago
3 mins read
Is XRP on the Brink of a 50,000% Rally?

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XRP, being one of the worst year-to-date performers among the top 10 largest crypto by market cap, now appears to be on the verge of a historical rally, according to renowned crypto analyst Javon Marks.

According to Marks, XRP’s latest price action suggests a major turn in its trajectory, reminiscent of its monumental rise observed from 2016 to 2017.

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XRP: Dissecting The 50,000% Rally Outlook

Javon Marks, in a post on X earlier today, highlighted potential signs of a major bullish surge for XRP, similar to its ascent from roughly $0.0066 to over $3.30 years ago.

Marks points to what he describes as a “Hidden Bullish Divergence” on XRP’s chart—a technical indicator suggesting that the current price movement is an anomaly and that a significant price increase could soon follow.

Notably, a bullish divergence often occurs when the price of an asset makes a new low, but the momentum indicator starts to climb, suggesting that the downward trend is losing its strength and could reverse.

$XRP is still, right now, showing signs that mirror its 2016-2017 action where prices soared nearly +50,000% from ≈$0.0066 to over $3.30!

This means that we can be on the cusp of witnessing another extraordinary unimaginable performance and showcase of strength from XRP and… https://t.co/sJumbCalav pic.twitter.com/PvvPNL8eQP

— JAVON⚡️MARKS (@JavonTM1) August 16, 2024

This pattern, Marks notes, closely mirrors the conditions seen before XRP’s explosive growth in the previous decade. Marks stated in the post, indicating strong confidence in the asset’s imminent market behavior:

This means that can be on the cusp of witnessing another extraordinary unimaginable performance and showcase of strength from XRP and Ripple, unfolding in ANY MOMENT now. History may not always repeat exactly, but it often rhymes, and the ‘songs’ that XRP and Ripple are ‘playing’ can be carrying some of the greatest lyrics.

Touching On The Ripple And SEC Saga

The backdrop to XRP’s potential market resurgence, as highlighted by Marks, is framed by its legal battles and regulatory challenges, particularly with the US Securities and Exchange Commission (SEC).

The protracted legal confrontation, initiated in December 2020, accused Ripple Labs of selling XRP as an unregistered security.

After extensive legal proceedings, a federal judge recently ordered Ripple to pay $125 million—a fraction of the $2 billion initially sought by the SEC—effectively bringing a significant portion of the litigation to a close.

This ruling, delivered in July 2023 by Judge Analisa Torres of the Southern District of New York, found that while Ripple violated securities laws in its direct institutional sales, it did not break the law in its dealings that put XRP onto exchanges accessed by retail investors.

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XRP Price On The Edge: Can It Survive and Start Fresh Increase

1 year ago

This partial victory for Ripple has been viewed favorably by the market, as it provides a clearer regulatory framework moving forward and may reduce the uncertainty that has clouded XRP’s potential.

According to Marks’ outlook, this just might be what XRP needs to finally make that major rise.

XRP price chart on TradingView
XRP price is moving sideways on the 1-hour chart. Source: XRP/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

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Samuel Edyme
Samuel Edyme

Samuel Edyme

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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