Ripple’s XRP Breaches 4-Year Downtrend As Seasoned Analyst Envisions Explosive Rocket To $200 Price ⋆ ZyCrypto
The post Ripple’s XRP Breaches 4-Year Downtrend As Seasoned Analyst Envisions Explosive Rocket To $200 Price ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     A well-known crypto analyst has doubled down on their ultra-bullish forecast for Ripple’s cross-border payments token, XRP. Javon Marks has once again predicted that XRP’s price will skyrocket to the coveted $200 zone, representing an over 3,000% growth from its current price point. Break Of 3.5-Year Downtrend Implies Imminent Explosive XRP Price Growth A recent analysis by an analyst going by the online alias the Charting Guy has sparked considerable interest within the XRP community. It notes that the price of XRP has seen sideways action for more than a year since hitting $0.95 in July 2023. However, the analyst believes XRP has finally broken out of a notable downward pattern that has persisted for nearly four years. An accompanying chart shared by the Charting Guy indicates that XRP’s price on the weekly chart was trading within a long-term descending trendline that proved a hard nut to crack — becoming a critical level to beat for the bulls. But XRP’s recent rebound above the crucial resistance level boosts prospects of a stronger rally. $XRP decided to break now‼️📈 3.5 year downtrend broke 🤯🔥 and just confirmed with todays daily and weekly close✅ depending on how you draw the trendline, it may have broke the full 7 year downtrend too, but i’m waiting for extra confirmation on that still VERY significant https://t.co/kIE44QDuB8 pic.twitter.com/VUBkjZtKLv — Charting Guy (@ChartingGuy) September 30, 2024 The analyst further observed that XRP had also broken a seven-year downtrend, which began after the cryptocurrency hit its current lifetime peak of $3.40 in January 2018. Although he was waiting for extra confirmation, the Charting Guy nonetheless described the break as “still very significant.” Charting XRP’s Path To $200 Breaking out of a seven-year pennant setup is another bullish signal, which is setting up XRP for an…
Filed under: News - @ October 1, 2024 8:18 pm