XRP Price History Repeats: Analyst Predicts Incredible 50X Surge

With XRP rebounding sharply in early May, from a dip of $2.08 to $2.24 in just 48 hours, the stage could be set for history to repeat itself.

As XRP price shows a sharp rebound in early May, from a low of $2.08 to reach $2.24 within 48 hours, could be setting the stage for history to repeat itself. Analyst Javon Marks predicts that a breakout from a massive pennant pattern could launch the token past $123, combining Fibonacci math and past behavior.

Crypto analyst Javon Marks recently took to X (formerly Twitter) to share an interesting analysis of the XRP chart, suggesting that the token could rise over 50 times from its current price to reach more than $123 after breaking out of a large multi-year pennant pattern.

According to Marks, the cryptocurrency has mirrored a similar technical setup from 2017, where a breakout from a smaller pennant pattern led to a surge past its 2.618 Fibonacci extension level, then near $2.13. However, the most recent breakout late in 2024 was out of a much larger pennant pattern, which suggests to the analyst that the token is set up for another exponential rally.

The chart shared highlights bullish momentum, with the asset consolidating in a green zone after the breakout, similar to the price action before the cryptocurrency’s historic run in 2017.

The first Fibonacci projection is 2.618, which will give an additional level of $123.97. If the environment presents similar technical conditions, more than 5,000 percent could be recaptured at the current levels of around $2.37, should trends of the past reproduce themselves.

Sticking to historical price action and Fibonacci extension targets, Javon Marks stated that the pattern breakout ultimately cements a major rally in his opinion. The projection, while ambitious, is based on technical analysis patterns that have historically preceded explosive growth for XRP.

Another aspect contributing to the case’s bullishness is the increase in XRP Ledger addresses, which has now crossed 6 million, according to the data from CryptoQuant. This shows a huge escalation point from less than 2 million addresses in early 2018, indicating a more engaged ecosystem.

Interestingly, the last price up to $2.10 came at the same time as a huge increase in address action, which has now become a top momentum indicator that is related to a subsequent increase in interest and network action.

In the past, growth in the user base has been seen to link with higher prices, as seen during the last upscale advance when XRP was seen to be surging.

This combines on-chain activity, bullish technical formations, and analyst-supported chart projections for an interesting story. If the cryptocurrency continues to mirror its historical path and maintains user growth at this pace, the forecasted surge to $123 could evolve from a prediction into a tangible reality.