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- XRP shows signs of repeating its 57,000% surge from 2017-2018, sparking excitement among investors and analysts alike.
- Ripple’s growing partnerships, including 50+ Japanese banks, position XRP for significant long-term growth in digital payments.
Rippl token, XRP, is once again causing market enthusiasm. According to a tweet from crypto analyst Javon Marks, XRP’s current price oscillations exhibit a striking resemblance to the trends observed right prior to its huge 57,000% increase between 2017 and 2018.
$XRP, right now, continues to be fresh off of action that looks highly reminiscent of the movement just before its >57,000% climb in 2017-2018.
Prices can be on the brink of another extreme upside at an extreme level not seen in 6-7 years! pic.twitter.com/n3oEUQvj0Z
— JAVON⚡️MARKS (@JavonTM1) September 2, 2024
Analysts Anticipate XRP Next Major Move Amid Market Consolidation
Marks believes the asset is on the approach of another significant upward trajectory, potentially reaching levels not seen in the last six or seven years. This upbeat outlook has encouraged investor speculation, with many keeping an eye out for signs of a breakout in XRP.
XRP is currently trading at around $0.5502, down 0.20% over the last 24 hours. The token’s daily trading volume remains substantial, at approximately $898.03 million.
Despite the short-term volatility, XRP has mostly traded sideways for the past week. Many traders see this as the quiet before a potential storm, with Marks analysis reinforcing the notion that a large price shift is on the way.
In addition to technical analysis, fundamental events support the positive sentiment toward XRP. CNF has noted that another popular analyst forecasted stratospheric growth in XRP’s market cap, suggesting that it might reach $22 trillion within the next two years.
While this amount may appear unrealistic, it demonstrates rising confidence that Ripple’s technology will play an important role in the future of digital payments. This long-term forecast is dependent on Ripple’s continuing expansion of partnerships and the acceptance of its payment solutions by financial institutions globally.
Beside that, Ripple’s relationship with Japanese banks stands out as an important part of its overall strategy. As we previously reported, Ripple is collaborating with over 50 institutions in Japan to create a new payment infrastructure based on distributed ledger technology.
This collaboration is especially essential because Japan remains one of the world’s most cash-reliant countries. Digitalizing payments has become a national priority, and Ripple’s technology is at the vanguard of this effort.
