With XRP rebounding sharply in early May, from a dip of $2.08 to $2.24 in just 48 hours, the stage could be set for history to repeat itself. Analyst Javon Marks believes a breakout from a massive pennant pattern could launch the token past $123, citing Fibonacci math and past behavior.
XRP History Repeats: Analyst Predicts Incredible 50X Surge
Crypto analyst Javon Marks projects that the XRP token could skyrocket over 50 times its current value, reaching more than $123, following a breakout from a large multi-year pennant pattern. According to Marks’ analysis shared via X (formerly Twitter), the cryptocurrency has mirrored a similar technical setup from 2017, where a breakout from a smaller pennant pattern led to a surge past its 2.618 Fibonacci extension level, then near $2.13.
The most recent breakout late in 2024 was out of a much larger pennant pattern, which suggests to Marks that the token is set up for another exponential rally. The chart shared highlights bullish momentum, with the asset consolidating in a green zone after the breakout, similar to the price action before the cryptocurrency’s historic run in 2017.
XRP Price Chart (Source: X Post)
The first Fibonacci projection is 2.618, which will give an additional level of $123.97. If the environment presents similar technical conditions, more than 5,000 percent could be recaptured at the current levels of around $2.37, should trends of the past reproduce themselves.
Holding to historical price action and Fibonacci extension targets, Javon Marks made it clear that the pattern breakout validates a major rally to him. The XRP price forecast, while ambitious, is rooted in technical analysis patterns that have historically preceded explosive growth for XRP.
On-Chain Growth Fuels Bullish Outlook for XRP
Another aspect contributing to the case’s bullishness is the increase in XRP Ledger addresses, which has now crossed 6 million, as per the data from CryptoQuant. This graduated progression of user onboarding is a huge escalation point from under 2 million addresses in early 2018, indicating a more engaged ecosystem.
XRP Ledger: Addresses (Total) Source: CryptoQuant
Interestingly, the last price up to $2.10 occurred at the same time as a significant increase in address action, which has now become a foremost momentum indicator that is correlated with a subsequent increase in interest and network action. In the past, growth in the user base has been linked with higher prices, as evidenced by the last upscale advance when XRP was soaring.
This current combination of measured on-chain activity, bullish technical formations, and analyst-supported chart projections deserves the attractive story of a breakout ahead. If the cryptocurrency continues to mirror its historical path and maintain user growth at this pace, the forecasted surge to $123 could evolve from a bold prediction into a tangible reality.
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