A prominent market analyst, Javon Marks, suggests XRP is on the verge of a surge that could lead to a 41,400% increase, potentially driving its value to over $150.

Marks disclosed this on X while spotlighting XRP’s historical price movements. Notably, XRP has experienced significant price fluctuations since its launch. It reached an all-time high of approximately $3.3 during the 2017-2018 bull run.

Following this peak, XRP entered a prolonged consolidation phase characterized by lower highs and relatively stable lows. This formed a descending triangle pattern on the logarithmic chart. The pattern has been developing over several years, and Marks believes XRP is now poised to break out of this formation.

Imminent Breakout Could Push XRP to $150+

The chart presents two major patterns: a descending triangle that has contained XRP’s price movements for years and a smaller symmetrical triangle within it. The smaller symmetrical triangle indicates a tight trading range, suggesting that a breakout is imminent.

$XRP’s literally looking to be right on the brink of a MASSIVE BULLISH BREAKOUT and has just recently tested one.

With continued market strength, this can successfully happen and open up room, with a full Logarithmic Follow-Through for an over +41,400% run into $150+… pic.twitter.com/fbKW7Ez9wM

— JAVON⚡️MARKS (@JavonTM1) July 21, 2024

Marks pointed to a recent test of the upper boundary of the descending triangle. This test shows that XRP is on the cusp of a bullish breakout. If such a breakout occurs, it could lead to a significant price surge. Marks projects a potential increase of over 41,400%, which could push XRP’s price to $150 or more.

For XRP to achieve this dramatic rise, continued market strength is essential. The analyst’s prediction lies on the assumption of a full logarithmic follow-through. This means that the historical price action, when viewed on a logarithmic scale, suggests a pattern of exponential growth.

However, while bullish sentiments remain prevalent, some market participants doubt the possibility of a surge to $150. Notably, XRP must rally by an astonishing 24,349% from its current position to hit this price level. Also, a $150 price would translate to an ambitious XRP market cap of $8.2 trillion.

Current Position and Recent Performance

While recent data supports the possibility of a bullish breakout, how high XRP can go remains unknown.

XRP currently trades for $0.6135 after a notable 60% price surge from the low of $0.3824 recorded on July 5. The latest rally receives support from the Ichimoku Cloud, which indicates a strong bullish trend.

XRP Price Daily Chart

The Conversion Line lies above the Base Line, suggesting momentum is in favor of the bulls. Additionally, the price has spiked above the Leading Span A and B, which form the cloud. This positioning indicates that XRP is currently in a strong uptrend, with the cloud providing a support zone below.

Moreover, the MACD (Moving Average Convergence Divergence) indicator on the chart supports this bullish outlook. The MACD line is above the signal line, indicating a buy signal. The histogram also shows increasing positive momentum, reflecting the recent price surge. This suggests that buying pressure is strong and could sustain the current upward trend.