According to Javon Marks, an analyst, XRP could rise 200%, based on historical patterns. Currently, XRP is trading at around $2.94, down 2.9% in the last 24 hours and down about 0.55% compared to last week.

Despite the downturn, trading remains strong with daily trading volume reaching $7.4 billion, indicating that institutional investors are still actively participating. Surpassing the $3 threshold could be a turning point, potentially changing market sentiment.

Recent efforts to reclaim the $3 threshold align with the optimistic remarks of Federal Reserve Chair Jerome Powell at the Jackson Hole conference. His tone has bolstered expectations for a rate cut in September, driving a wave of capital into risk assets, including cryptocurrencies.

Technical sample shows Growth Potential

Cryptocurrency technical expert Javon Marks highlighted XRP's periodic breakout behavior from long-term symmetrical triangle patterns. This pattern has previously facilitated significant strong rallies, especially in the 2017 cycle.

With XRP currently trading above the breakout point near $2, analysts believe the token could quadruple, with Fibonacci extension level 1.618 targeting $9.63, while predictions extend up to $123 at the 2.618 extension level.

Strong Demand Increase from Financial Institutions in the Derivative Market

Interest from institutional investors has never been stronger. On the Chicago Mercantile Exchange (CME), XRP futures contracts reached a historical peak with over 6,000 active contracts just before the product launch anniversary.

In the past quarter, the total trading volume of futures contracts exceeded $9 billion, with an average daily notional value of $143 million. Both figures indicate a strengthening of confidence from institutions in regulated XRP products.

Considerations Between Positivity and Risk

Analysts warn that although technical setups indicate significant growth potential, the path is not without risks. Achieving and maintaining upward momentum above the $3 threshold is crucial before larger profits can be realized. Like previous cycles, upward patterns are often followed by prolonged consolidation phases rather than a straight run to the next peak.

Ultimately, XRP is at a critical juncture. If it can surpass the $3 resistance level with strong support from institutional capital and favorable major economic signals, a strong rally towards long-term targets such as $9.63 could be triggered. Conversely, failing to maintain important support levels could lead to a pause or pullback, highlighting the importance of closely monitoring momentum and volume.

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