Is XRP on the Verge of a Breakout? Ripple Analyst Predicts a 3,900% Price Surge

Ripple XRP investors are buzzing with speculation as analyst Javon Marks forecasts an astonishing 3,900% surge for XRP.

According to Marks, XRP—currently trading around $2.47—could skyrocket to an eye-watering $99, bringing its total market valuation to approximately $5.7 trillion. Drawing comparisons to XRP’s explosive rally in 2017, Marks suggests that the token may be on the cusp of another historic breakout.

XRP’s next target stands at $99—over 3,900% away, marking a 40X surge from current levels. Source: Javon Marks via X

However, not all analysts share this optimism. Some argue that the cryptocurrency market has evolved significantly since 2017, making it unreliable to use past trends as indicators of future performance. Despite this skepticism, excitement remains high among XRP enthusiasts, particularly as institutional interest in the digital asset continues to grow.

XRP Depository Receipts Set to Launch

Adding to the bullish sentiment, reports have surfaced about the imminent launch of XRP Depository Receipts (DRs). Investment firms like Receipts Depository Corp. and Digital Wealth Partners are preparing for the new financial instruments that will extend XRP’s price to institutional investors in the U.S. without holding the asset actually. The idea is akin to the American Depository Receipts that give U.S. investors rights to foreign stocks with intermediaries.

Accredited investors can now access $XRP without crypto exchanges, thanks to Receipts Depository Corporation (RDC) & Digital Wealth Partners (FOX). Source: Mr. Morgan via X

Anchorage Digital, a crypto platform, will be required to custody the XRP DRs to ensure that compliance under the oversight of the Office of the Comptroller of the Currency is well-observed, marking one more important bridge between traditional finance and the crypto market and driving the possible further institutional adoption of XRP.

Ripple CEO Brad Garlinghouse in Talks for White House Crypto Council

Meanwhile, reports indicate that the CEO of Ripple, Brad Garlinghouse, is a candidate likely to be appointed to the White House Crypto Council. It is an initiative by the current administration created to drive innovation in various digital assets and blockchain technology. This latest development marks further steps to take on regulatory concerns frustrating many in the crypto community.

Ripple CEO Brad Garlinghouse is reportedly set for a White House Crypto Council advisory role. Source: Kenny Nguyen via X

The fact that Garlinghouse might be engaged in shaping US crypto policy suggests a positive impact on Ripple and XRP at a time of ongoing legal combat with the SEC. His influence in discussions among regulators could have a positive role in guiding XRP toward regulatory clarity and ultimately, mainstream adoption. It’s good news for XRP investors and the XRP price.

Technical Indicators and Market Movements

On a technical basis, XRP recently bounced off the lower boundary of the descending broadening wedge near $2.33. According to analysts, should XRP attempt to break through the upper boundary of the wedge, this will see the cryptocurrency rally toward its $4 psychological resistance.

Technical analysis suggests XRP could hit the $4 psychological resistance. Source: Jayed via X

On the other hand, XRP faces stiff resistance near $2.72, which has been continuously bolstered by the 50-day SMA and the 14-day EMA. The key momentum indicators RSI and MACD are still within the negative domain, but the same may change their momentum if they cross over above the centerlines.

Caution Advised Amid Market Volatility

Despite the excitement, investors are advised to be more conservative. The crypto market is traditionally volatile, and predictions—no matter how well-researched—run risks. In this respect, the future price action of XRP will depend on a lot of things: its ongoing case with the SEC, probable changes in regulations, and macroeconomic indicators.

Ripple’s XRP was trading at around $2.47, up 3.67% in the last 24 hours. Source: XRP Liquid Index (XRPLX) via Brave New Coin

Although such a 3,900% increase does sound mouth-watering, analysts still suggest doing your homework before investing in anything. For now, it remains to be seen whether XRP starts on a historical breakout or faces another resistance cycle, but one thing is quite sure: the digital asset has just begun its journey.