Is XRP Headed for a 40X Gain? Analyst Calls for a $99 Target

XRP price has again ignited bullish chatter across the crypto community, thanks to analyst Javon Marks's bold forecast.

Cryptocurrency price movements are notoriously volatile and unpredictable, making it difficult to pinpoint precise future price targets. However, some analysts like to engage in such exercises, offering their perspectives on where they believe popular tokens like XRP could be headed.

One such analyst, Javon Marks, recently made a bold prediction, envisioning the XRP price surging to an impressive $99.

At the time of writing, XRP trades around $2.47. If Marks’s prediction were to come true, it would mark a remarkable 3,900% increase from current levels.

In his analysis, Marks draws parallels to XRP’s meteoric rise in 2017, suggesting that the token is setting up for another historic rally.

He points out that XRP’s price movements now closely mirror its behavior just before it rocketed to its previous all-time high.

During the 2017 bull run, XRP initially encountered strong resistance at a key price ceiling. However, the token eventually smashed through this resistance, unleashing a wave of buying pressure that led to massive gains.

According to Marks, XRP’s price action has followed a similar pattern this time around, setting the stage for a potential breakout and a surge of over 3,900% from current levels.

It's important to note that the cryptocurrency market has changed significantly since 2017. New regulations, stronger institutional influence, and a shifting macroeconomic backdrop have all played major roles in shaping the market.

Despite these concerns, XRP’s ongoing momentum and robust network activity continue to fuel bullish sentiment among some market participants.

XRP Adoption Soars as SEC Lawsuit Uncertainty Fades

Beyond the chatter over price targets, on-chain metrics have indicated rising XRP adoption.

Since mid-January, the total number of XRP wallet addresses has increased by 200,000, reaching 6.6 million, according to data from CoinMarketCap.

This surge followed the SEC’s decision not to appeal its case against Ripple’s executives, a move that further boosted investor confidence in the XRP price movements.

Moreover, active XRP addresses have stayed above the 2024 average, which analysts frequently view as an indication of robust network expansion.

Another factor stoking optimism is the recent resignation of former SEC Chair Gary Gensler on January 20. This hinted at a regulatory landscape that may become more favorable toward digital assets, especially if the new administration takes a progressive stance on crypto-related innovation.

On-chain data from CryptoQuant also provided further evidence of intensifying XRP adoption.

The total number of wallet addresses increased from 6.4 million on January 14 to roughly 6.6 million by February 10. It was a jump that underscored rising user engagement and transactional activity, which further strengthened the XRP price outlook.

XRP ETF Buzz Adds Fuel to the Fire

Meanwhile, ETF discussions have increased excitement in the XRP community.

Nasdaq revealed that CoinShares filed a 19b-4 form to establish an XRP exchange-traded fund, joining the growing list of crypto-focused ETFs seeking regulatory approval.

Other heavyweights like Bitwise and 21Shares have also entered the fray, signaling that institutional appetite for XRP may be gaining ground.

However, it's worth noting that the approval process for any ETF could be lengthy, and several crypto-related ETFs are still awaiting a decision from the SEC.

At the same time, the large number of high-profile firms applying for an XRP ETF has already whipped up considerable excitement in the community.

Although legal uncertainties remain, it’s another factor stoking cryptocurrency optimism.

On January 15, the SEC filed an appeal brief contesting the earlier ruling on Ripple’s programmatic sales of XRP. The agency’s stance on continuing the legal battle remains unclear, especially because Paul Atkins, a former SEC Commissioner, was nominated by President Trump for the leadership position.

Fox Business reporter Eleanor Terrett noted that the Atkins could face a lengthy path to Senate confirmation, which could further keep XRP in limbo until the matter is resolved.

With bold predictions, shifting regulatory sands, and growing excitement, XRP price hangs in the balance amid a unique confluence of events.