Fasten your seatbelts because according to one of the crypto industry’s top experts, we could see the price of payments-focused cryptocurrency XRP rocket to triple digits.
Javon Marks has forecasted an explosive move to the $263 price milestone if a full-blown upward breakout happens.
Analyst Eyes XRP Rally To $263
While the price of XRP has kept a $1 moonshot at bay so far, a crypto analyst foresees a gigantic price surge ahead.
In a recent post on X (aka Twitter), Javon Marks suggested that if XRP sees a full logarithmic follow-through from its prolonged consolidation phase, the seventh-largest crypto could hit the lofty $263 heights. Based on historical trends, this would represent an approximately 42,000% appreciation from its present price.
XRP soared over 30% to 65 cents last month but has since retreated to just over 56 cents as of writing. The $0.66 level has proven a tough nut to crack.
Marks observed that XRP was nearing the end of a close to seven-year consolidation and has displayed several bullish signals throughout. In the analyst’s opinion, these indicators, combined with XRP’s perseverance during this time, suggest a barnstorming rally is likely.
Marks revealed that he had tempered his forecasts in previous posts but now believes it’s important to pay attention to XRP’s full potential, which he suggested could propel the coin’s price past $200 with similar follow-throughs.
Perfect Storm For Bulls
From a fundamental standpoint, XRP is also blossoming. On Aug. 7, U.S. District Court Judge Analisa Torres made her final judgment on the Securities and Exchange Commission’s legal spat against Ripple over unregistered XRP sales. Judge Torres fined Ripple $125 million for institutional sales of XRP — which was considerably lower than the $2 billion the SEC had initially demanded.
Ripple executives hailed the ruling as a victory, igniting hopes of potential XRP exchange-traded funds (ETF) debuting on U.S. exchanges. The SEC gave the regulatory nod to BTC and ETH ETFs early this year, paving the way for billions of dollars in new institutional money.
A handful of analysts have been making ambitious predictions regarding the future of XRP in recent days following the recent historic court ruling. For instance, analyst Dark Defender recently made waves by boldly predicting that Ripple’s XRP could skyrocket to as high as $333 in the near future.
Other experts believe the ruling will boost XRP’s acceptance by businesses as a reliable payment option. As ZyCrypto covered earlier, famed crypto lawyer Fred Rispoli urged Tesla boss Elon Musk to announce XRP integration into the X Payments service. This endorsement could further strengthen XRP’s position in the mainstream finance industry.
