Is XRP on the Brink of a 50,000% Rally? Signs Point to Yes, Says Top Analyst

Samuel Edyme

9 months ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP, being one of the worst year-to-date performers among the top 10 largest crypto by market cap, now appears to be on the verge of a historical rally, according to renowned crypto analyst Javon Marks.

According to Marks, XRP’s latest price action suggests a major turn in its trajectory, reminiscent of its monumental rise observed from 2016 to 2017.

XRP: Dissecting The 50,000% Rally Outlook

Javon Marks, in a post on X earlier today, highlighted potential signs of a major bullish surge for XRP, similar to its ascent from roughly $0.0066 to over $3.30 years ago.

Marks points to what he describes as a “Hidden Bullish Divergence” on XRP’s chart—a technical indicator suggesting that the current price movement is an anomaly and that a significant price increase could soon follow.

Notably, a bullish divergence often occurs when the price of an asset makes a new low, but the momentum indicator starts to climb, suggesting that the downward trend is losing its strength and could reverse.

$XRP is still, right now, showing signs that mirror its 2016-2017 action where prices soared nearly +50,000% from ≈$0.0066 to over $3.30!

This means that we can be on the cusp of witnessing another extraordinary unimaginable performance and showcase of strength from XRP and… https://t.co/sJumbCalav pic.twitter.com/PvvPNL8eQP

— JAVON⚡️MARKS (@JavonTM1) August 16, 2024

This pattern, Marks notes, closely mirrors the conditions seen before XRP’s explosive growth in the previous decade. Marks stated in the post, indicating strong confidence in the asset’s imminent market behavior:

This means that can be on the cusp of witnessing another extraordinary unimaginable performance and showcase of strength from XRP and Ripple, unfolding in ANY MOMENT now. History may not always repeat exactly, but it often rhymes, and the ‘songs’ that XRP and Ripple are ‘playing’ can be carrying some of the greatest lyrics.

Touching On The Ripple And SEC Saga

The backdrop to XRP’s potential market resurgence, as highlighted by Marks, is framed by its legal battles and regulatory challenges, particularly with the US Securities and Exchange Commission (SEC).

The protracted legal confrontation, initiated in December 2020, accused Ripple Labs of selling XRP as an unregistered security.

After extensive legal proceedings, a federal judge recently ordered Ripple to pay $125 million—a fraction of the $2 billion initially sought by the SEC—effectively bringing a significant portion of the litigation to a close.

This ruling, delivered in July 2023 by Judge Analisa Torres of the Southern District of New York, found that while Ripple violated securities laws in its direct institutional sales, it did not break the law in its dealings that put XRP onto exchanges accessed by retail investors.

This partial victory for Ripple has been viewed favorably by the market, as it provides a clearer regulatory framework moving forward and may reduce the uncertainty that has clouded XRP’s potential.

According to Marks’ outlook, this just might be what XRP needs to finally make that major rise.

XRP price chart on TradingView — XRP price is moving sideways on the 1-hour chart. Source: XRP/USDT on TradingView.com

Featured image created with DALL-E, Chart from TradingView

Samuel Edyme

Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.

Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.

Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.

When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)

Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.

In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.

Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think's probably unfeasible, I've done already a hundredfold.”

PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.