XRP Price Could ‘Completely Rip Higher,’ Says Analyst: Here’s His Outlook

XRP has been showing promising signs of a potential bullish breakout, according to an analysis shared by crypto analyst Javon Marks.

Crypto analyst Javon Marks shared his analysis on XRP, suggesting that the token has been attempting to break out of its resistance levels since late July 2024. According to Marks, XRP may be preparing for an upward surge, with price targets of $2 to $3.

A chart shared by Marks shows XRP forming a symmetrical triangle, which is often seen before a continuation of the current trend. The pattern is characterized by converging lower highs and higher lows, creating a shrinking price range.

Multiple tests of XRP resistance, support levels

Several times, XRP has challenged the resistance and support levels of this pattern, hinting at the possibility of a breakout. The pattern observed in XRP suggests that resistance could weaken with each breakout attempt.

Multiple tests of a resistance line are typically viewed by traders as an indication that it may eventually break. Marks highlights that XRP’s persistent attempts at crossing this line could soon lead to a breakout.

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According to the pattern, the price target is calculated by adding the height of the back of the triangle to the breakout point. In this case, Marks estimates a price range of $2 to $3, which aligns with the current market indicators and technical analysis.

This bullish outlook is supported by Marks’ tweet, which emphasizes that XRP has been preparing for this breakout for months. He mentions that a breakout could trigger the much-anticipated price rally, possibly leading to the strong growth that many traders have been expecting.