The post Analyst Expects XRP to Outpace Bitcoin by 243%, with Price Rallying to $1.57 appeared on BitcoinEthereumNews.com.

Notable analyst Javon Marks believes XRP could outperform Bitcoin by an impressive 243%, projecting an over 3.3x increase in XRP price toward the $1.57 region. Marks disclosed this amid the current market uncertainty. The downturn has dealt a blow on prices, with Bitcoin (BTC) leading the charge. Being the most prominent crypto asset, with a 53.1% market dominance, BTC has continued to dictate the direction of the broader market. As the rest of the market follows, so does XRP. However, during the ongoing downtrend, XRP has demonstrated greater resilience than Bitcoin and the broader market. The Crypto Basic confirmed this trend in a report earlier in the week. Notably, BTC is down 8.70% this month, while Ethereum (ETH) has collapsed 8.17% within the same period. Additionally, despite its recent 24-hour price spike on the back of VanEck’s spot ETF filing, Solana is seeing an 11.83% loss this month. Meanwhile, XRP has maintained a 7% decrease in June, suffering less burns than the broader market.  Analyst Expects XRP’s Resurgence Nonetheless, market participants have often voiced concerns over XRP’s inability to record gains when these other assets appreciate. For context, XRP is performing worse compared to the rest of the market on a larger timeframe. Javon Marks believes this trend could be coming to an end, as he predicts an XRP explosion. $XRP / #BTC has, on a Logarithmic Scale, broken out of a notable, near year long resisting trend and this can be a sign of a major bullish reversal to come in. With this breakout, a follow through can result in XRP outrunning Bitcoin by more than 243%! In Mid 2023, XRP moved… pic.twitter.com/84Aqlp3rLI — JAVON⚡️MARKS (@JavonTM1) June 27, 2024 He called the investing public’s attention to a descending trendline on the XRP/BTC chart over a 2-day timeframe. This trendline…

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Filed under: News - @ June 29, 2024 12:10 pm