• One analyst points out similarities between XRP’s current market and 2017 when, after following a descending bearish trend line, XRP broke free to surge 60,000%.
  • The analyst believes XRP has exhibited the same trading and price patterns and it could break out in the near future to surge over 61,000% to hit $288.

XRP could be heading to $288, one analyst has claimed, drawing parallels between the token’s current market and its record-setting 2017 bull run.

In the period starting December 2013 when XRP had set its then-record price, the token was stuck in a descending trendline that usually signals bearish movements. Attempts to break out past this trendline failed and were followed by lower lows.

However, as shown in the graph below, it broke free of this trendline and what followed was an incredible surge that culminated in the token’s all-time high in 2017.

According to Javon Marks, this pattern has been recurring since 2017, with an attempt to break out of the trendline in April 2021 rejected. XRP finally managed to break free recently and according to the analyst, it could be a repeat of the 2017 cycle, He predicts that the crypto will gain over 60,000% to hit a new high at over $288.

He told his 39k followers:

A $200+ XRP (Ripple) can be possible. Another set of Higher Lows is holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.

If the token were to hit $288, its total market cap would skyrocket to more than $15.7 trillion, two trillion dollars higher than the market cap of gold and worth more than Apple, Google, Microsoft, Amazon, and Facebook combined.

New Highs for XRP

Javon is one of several analysts who believe that XRP will break out soon. Another analyst, Egrag Crypto, recently predicted that the XRP/BTC ratio would skyrocket to 0.000137, a rise from its current level of 0.000010. This would imply that, with BTC holding above $50,000, XRP would surge to $7.

Egrag believes that the next bull market will be similar to 2017’s. Back then, while Bitcoin got all the attention for its surge, it paled in comparison to the market moves of XRP.

Others like XRP Whale believe that the token will hit $10 by the end of the second quarter of this year. A top voice in the XRP community, he pointed out that XRP managing to hold support despite market sentiment being at an all-time low is a testament to its staying power and will give it a platform to reverse a recent downtrend.

Meanwhile, XRP is trading at $0.05585, gaining nearly 5% in the past day. The price rise has coincided with a sharp surge in market interest, with trading volume hitting $1.6 billion, an 82% rise in the past 24 hours. However, it has yet to reverse the losses recorded late last week, with its weekly position now 2.40% lower.

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