- Analyst spots breakout pattern in XRP mirroring 2017 price surge.
- Fibonacci levels point to potential XRP rally beyond $123 mark.
- XRP holds strong above $1.99 as bullish momentum builds.
XRP is drawing fresh attention after a new technical analysis suggested the asset may be heading for a significant price explosion. According to market analyst Javon Marks, XRP is repeating a chart pattern that preceded its all-time high surge in 2017.
Marks shared a detailed chart on X showing that XRP has recently completed a long-term consolidation phase. This formation, which started after XRP’s 2018 peak, closely resembles a symmetrical triangle pattern that historically signals strong upward movement. He identified multiple touches on support lines throughout the consolidation, suggesting a solid base had formed before the Breakout.
Currently, XRP is trading above $2.50, with Marks confirming that the Breakout from the consolidation occurred upward. This development is being closely watched by traders and investors who see similarities with the price action that once took XRP to $3.84.
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XRP Breakout Aligns with Historical Rally Signals, Eyes Fibonacci Targets
Marks used Fibonacci extension levels to project possible price targets. In 2017, XRP moved through key Fibonacci zones — consolidating near the Fib. 1 level before advancing toward the $1.618 extension and eventually passing the $2.618 level.
Now, the asset is holding above $1.99, which aligns with the Fib. 1 extension in the new pattern. According to Marks, such placement may provide a prelude to a rally up to the next significant Fibonacci $9.631. He also marked the 2.618 extension price point of $123.5278 as a far-out target, as experienced during the 2017 rally.
Source: Javon Marks
Considering the uncertain timeframe, the breakdown indicates that XRP is ready to make another big move if it experiences a historical repeat.
Marks also outlined that the market’s state, coupled with the technical arrangement, resembles the time of the prior rise in XRP.
The new projection from Javon Marks has added momentum to the growing interest in XRP’s future price action. With a breakout confirmed and key Fibonacci levels in play, attention is now on whether the asset can follow its historical path to new highs.
Also Read: XRP Breaks Key Resistance After Double Bottom—Is $4 Now Within Reach?
