XRP Prediction: Analyst Says Bullish Divergences Are Still Present, Here’s Why
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XRP currently trades slightly above $0.50, having recently faced a significant price decline. Despite this, crypto analyst Javon Marks notes bullish divergence patterns that suggest an upward momentum may be imminent. Marks highlights XRP's journey from $0.4321 to $0.6534 in July, breaking out of a multi-year descending triangle pattern. This pattern, characterized by lower highs and higher lows since XRP's all-time high in 2018, suggests consolidation and potential bullish breakout.
Marks believes a successful breakout could see XRP prices reach between $15 and $18 conservatively, or even above $100 in a more intense rally. His highest target is $260, marking a 41,780% increase. Although such rallies are historically not unprecedented, repeating a 40,000% surge would be challenging in today's evolved market. Despite this, a sustained rally looks plausible.
Currently, XRP is trading at $0.5162, marking a 3% increase in the past 24 hours. The analyst's observations on the correlation between price action and the Relative Strength Index (RSI) further support the optimistic outlook for XRP's potential breakthrough.
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