thecryptobasic.com
A prominent crypto analyst has projected that $XRP could target a major long-term price level near $17 based on a technical move.
This bold outlook comes as $XRP shows mixed short-term performance, leaving analysts divided on its next direction.
Key Points
- A prominent crypto analyst projects that $XRP could reach a long-term price target of $17 using a measured move strategy.
- The projection relies on a measured move derived from $XRP’s previous bull-market rally.
- Achieving the price target would require a gain of over 1,100%, or roughly a 12x increase.
- $XRP’s recent mixed performance has left analysts divided on its short-term direction.
$XRP Measured Move Target Sits Close to $17
Market analyst Javon Marks has outlined a bullish long-term scenario for $XRP, arguing that the asset could climb to nearly $17 based on a measured-move projection.
Notably, his chart highlights a large pennant pattern that formed since 2017 after $XRP’s previous bull-market surge. Such formations typically signal a period of consolidation before the continuation of an existing trend.
According to his analysis, $XRP broke out of this pennant in late 2024 during the post-election market rally. This breakout, he suggests, marks the beginning of a new upward cycle.
By measuring the size of the 2017 rally and projecting that magnitude from the point at which the pennant reportedly broke out in late 2024, Marks derived a measured-move price target of approximately $16.39.
This approach assumes that the breakout will continue to follow historical market behavior, meaning the next expansion phase could mirror the scale of $XRP’s previous major rally. From current levels, reaching this target would require a gain of more than 1,111%, or roughly a 12x increase.
A Massive Discount?
The projection has sparked debate, with some $XRP proponents asking whether a fake breakout could occur before any significant rally. In response, Marks acknowledged the possibility of volatility but stressed that the current structure closely mirrors $XRP’s 2017 cycle.
He further argued that, with $XRP still trading well below the $17 target, current prices may represent a relative discount. In his view, the breakout structure suggests $XRP could still be in the early stages of a much larger move if historical patterns repeat.
What Other Analysts Say
Meanwhile, $XRP has delivered mixed performance this week. After rallying to around $1.39 following the Iran ceasefire, the token has since pulled back to about $1.33, marking a 3.32% decline over the past 24 hours.
In the meantime, other bullish projections continue to emerge. For instance, analyst CG recently pointed to a two-year Elliott Wave structure, suggesting that Wave 3 could drive $XRP toward $24.
Additionally, market commentator Dark Defender stated that $XRP could be approaching a new all-time high after breaking out of a resistance-support triangle pattern.
Despite these bullish signals, some analysts believe a dip to under $1 remains a possibility before the next leg up.