Last updated on May 18th, 2024 at 12:21 pm
XRP has been showing impressive price movements in recent days amid a slight adverse trend in the global crypto market. This has led to several bullish forecasts from different crypto experts.
In that light, a popular crypto analyst, Javon Marks, has made a bold prediction for XRP, predicting a potential surge to $200. Javon shared his thoughts with his 33k followers on X. His prediction has sparked interest and speculation across the XRP community.
Is $200 XRP possible?
The cryptocurrency expert stated that there is a chance that XRP may rise above $200 and suggested that it may be ready for a big move that will push prices to new all-time highs.
According to him, XRP is currently experiencing “another set of higher lows” that are holding and the price has experienced another breakout. As a result, a huge upward trend sending the price to never-reached heights might be imminent.
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His analysis fits with a historical trend that happened in 2018, which helped push the price of XRP to its current all-time high of $3.3. The token dropped from its peak of $0.06 in December 2013, forming a bearish decreasing trendline, before the spike.
XRP held below this downward trendline for several years, experiencing two failed attempts at a breakout throughout that period. Nevertheless, the currency persevered and succeeded in breaking out in 2017 despite failing to do so twice.
It surged by more than 63,000% following this breakout, reaching its current all-time high price of $3.3. Mark’s predictions suggest that this particular tendency is currently being realized.
Community reactions
Even though Mark’s prediction seems positive, the XRP community took it with mixed reactions. Some called him out on his rather “impossible” analysis based on XRP’s tokenomics. Notably, one user wrote, “Common bro that doesn’t make any sense lol Look at basic tokenomics, you expect XRP to be worth a cap of $200T?”
Another user suggested that the community focus on XRP reaching $1 first, and then $2, adding that the possibility of XRP reaching $200 is “50 years away.” The different views of community members underscore the complexities of the crypto market.
XRP price movements
According to data from Coinstats, the price of XRP has dropped slightly by 1.61% over the last 24 hours, resting at $0.537. However, the trade volume tells a different story. CoinMarketCap data show that its volume has surged by over 30% over the last day signifying growing interest and activities among investors.
Finally, XRP maintains its position as the 7th largest cryptocurrency in the market with a capitalization of $29,317,538,571 ($29.3 billion).
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Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.