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.
Source: www.newsbtc.com ↗
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