Renowned analyst Javon Marks has made a bold prediction, suggesting that XRP will outperform Bitcoin by a staggering 243%. Marks anticipates a significant surge in XRP’s price, projecting it to reach the $1.57 mark, which would represent a more than 3.3x increase.
This forecast comes amidst a period of uncertainty in the market, with Bitcoin leading the downward trend. However, unlike Bitcoin and other cryptocurrencies, XRP has demonstrated greater resilience during this period. In fact, XRP has only experienced a 7% decrease in June, while Bitcoin has dropped by 8.70% and Ethereum by 8.17%.
Despite concerns from some market participants about XRP’s inability to generate significant gains compared to other assets, Marks believes that this trend could soon change. He points to a breakout in XRP’s price against Bitcoin on a logarithmic scale, indicating a potential bullish reversal.
Marks specifically highlights a descending trendline on the XRP/BTC chart over a 2-day timeframe. This trendline resulted from an ongoing downtrend that XRP has been facing against Bitcoin since July 2023. However, Marks suggests that the recent breakout above this trendline could lead to a substantial increase in XRP’s price against Bitcoin.
According to Marks’ chart, a successful follow-through of this breakout could result in a 243% rise in the XRP/BTC pair, pushing it to 0.00001966. To achieve such a spike, XRP would need to experience a significant price increase.
Marks expects this price increase to propel XRP’s value by as much as 3.3x, bringing the price to $1.57. Notably, XRP last reached this price level in May 2021 during a correction from its peak of $1.96 in April of that year.
Only time will tell if Marks’ prediction will come to fruition. However, it offers an intriguing perspective on the potential future performance of XRP in relation to Bitcoin.