XRP price watchers are split after market analyst Javon Marks outlined a long-term bullish scenario that places the token’s next potential target just under $17, implying more than a 1,100% gain from current levels.
Analyst Maps $16–$17 Target Using Measured Move
Marks, a market technician, said on April 8 that XRP’s multi-year setup supports a measured move price target of approximately $16.39, with the projection derived from the scale of XRP’s 2017 rally and applied from what he views as a confirmed breakout point in late 2024. In a post on X (formerly Twitter), he argued that the structure resembles a large pennant that formed after XRP’s first major surge in 2017, a pattern that often indicates consolidation before a trend resumes.
Measured move analysis typically estimates the next leg of a trend by taking the magnitude of a prior advance and projecting it from a subsequent breakout. Based on that framework, Marks’ target would equate to roughly a 12x increase from recent prices.
Debate Over Breakout Durability
Not all analysts agree on the trajectory. Some XRP commentators have warned of a possible fake-out before any sustained upside, pointing to the risk of short-term volatility. Marks acknowledged that scenario but maintained the broader structure remains intact and comparable to XRP’s pre-breakout positioning in 2017.
Other bullish voices have surfaced with even higher projections. One analyst citing a two-year Elliott Wave count suggested a Wave 3 could carry XRP toward $24. Another market watcher said XRP may be advancing toward a new all-time high after a breakout from a resistance-support triangle. Conversely, several analysts still see the possibility of a dip below $1 before any major rally, underscoring a wide split in outlooks among XRP followers.
Market Snapshot
XRP, the native asset of the XRP Ledger — an open-source blockchain designed for fast, low-cost value transfers — showed mixed price action this week. The token briefly climbed to around $1.39 following reports of an Iran ceasefire before retracing to roughly $1.32, a decline of about 3.3% over 24 hours at the time of writing.
Why It Matters
Large, multi-year technical setups can influence trading behavior across the crypto market, particularly among participants who rely on chart patterns and momentum models. While historical analogs like the 2017 pennant can frame potential scenarios, outcomes remain uncertain and depend on broader market conditions, liquidity, and investor sentiment. For now, XRP’s path forward appears contested, with price targets ranging from sub-$1 pullbacks to multi-fold rallies toward the mid-teens and beyond.