{"id":633905,"date":"2024-08-08T05:00:26","date_gmt":"2024-08-08T05:00:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=633905"},"modified":"2024-08-07T21:11:16","modified_gmt":"2024-08-07T21:11:16","slug":"xrp-prediction-bullish","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/xrp\/xrp-prediction-bullish\/","title":{"rendered":"XRP Prediction: Analyst Says Bullish Divergences Are Still Present, Here\u2019s Why"},"content":{"rendered":"

XRP is currently trading slightly above the $0.50 price level, having experienced a<\/span> significant price decline <\/span><\/a>that erased most of its gains from the previous month. XRP managed to break through the $0.60 price level in a rally last month, although this surge was short-lived, lasting only a few days. <\/span><\/p>\n

Despite this setback, crypto analyst Javon Marks notes that there are still bullish divergence patterns present in the market, suggesting that another breakout could be on the horizon. These patterns indicate<\/span> potential upward momentum<\/span><\/a>, hinting at a possible recovery and a very optimistic price surge to new all-time highs.<\/span><\/p>\n

Bullish Divergences Are Still Present<\/h2>\n

Crypto analyst Javon Marks recently shared an intriguing XRP technical analysis on the social media platform X with very bullish price prediction targets for the cryptocurrency.\u00a0 According to Marks, the crypto asset recently embarked on a bullish rally, which ultimately turned into <\/span>an attempted breakout<\/span><\/a> before reversing. The rally he was talking about was XRP’s price journey from $0.4321 in July, which saw it peak at $0.6534 on July 31, according to data from Coinmarketcap. As such, XRP ended up breaking out of a multi-year descending triangle pattern.<\/span><\/p>\n

Related Reading: Explosive XRP Prediction: Analyst Foresees 20-Fold Gain<\/a><\/div>\n

This interesting pattern is shown on Javon Marks’ XRPUSD monthly candlestick chart. The descending triangle pattern, which has been in formation since XRP’s all-time high of $3.4 in 2018, is characterized by a series of lower highs and higher lows. Over the past six years, this pattern has become smaller, reflecting a period of consolidation and reduced volatility. This formation has tightened for the past few months, culminating in the minor breakout in July and a move towards a more bullish outlook for XRP.<\/span><\/p>\n

Although the XRP price now finds itself trading within this region of descending triangular pattern again, Javon Marks remains optimistic. Furthermore, he pointed out an interesting correlation between the price action and the Relative Strength Index (RSI), which is a popular momentum indicator. According to Marks, this correlation suggests that a successful bullish breakout is on the horizon.<\/span><\/p>\n

\n

$XRP<\/a> recently broke out temporarily which looks to have been only an attempted breakout but, between Price Action and the RSI, there are patterns still present through bull divergences that can suggest a successful bullish breakout to be on the horizon!<\/p>\n

On a conservative note,\u2026 https:\/\/t.co\/BCrp9CwT6i<\/a> pic.twitter.com\/XGGiv0nBDp<\/a><\/p>\n

\u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) August 6, 2024<\/a><\/p><\/blockquote>\n

Price Targets For XRP<\/h2>\n

According to Marks, a successful breakout would translate into a price range between $15 and $18 on the conservative end. A more intense rally could result in XRP reaching above the $100 price level. His final target on the price chart is $260 for XRP, which represents an increase of 41,780% from the current price level.<\/span><\/p>\n

Rallies of such magnitude are not new to the crypto industry. As Marks noted, we’ve witnessed full logarithmic scale follow-throughs of this nature in the past. The last time the altcoin broke out of a similar multi-year descending triangle pattern was in 2017, resulting in a 42,000% price increase that culminated in its current all-time high.<\/span><\/p>\n

Related Reading: XRP Price Recovery Encounters Hurdles: Will It Prevail?<\/a><\/div>\n

However, realistically speaking, the crypto market has evolved since then. XRP is <\/span>now one of the largest <\/span><\/a>cryptocurrencies in terms of market cap, and a repeat of such a 40,000% surge is easier said than done. A lone XRP rally of that magnitude would propel XRP to overtake even Bitcoin in terms of market cap, which many market participants would deem impossible. Nevertheless, a sustained XRP rally in the near future is<\/span> not out of the question.<\/span><\/a><\/p>\n

At the time of writing, XRP is trading at $0.5162 and is up by 3% in the past 24 hours.<\/span><\/p>\n

\"XRP\"
XRP trading at $0.5899 on the 1D chart | Source: XRPUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image from Adobe Stock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

XRP is currently trading slightly above the $0.50 price level, having experienced a significant price decline that erased most of its gains from the previous month. XRP managed to break through the $0.60 price level in a rally last month, although this surge was short-lived, lasting only a few days. Despite this setback, crypto analyst Javon Marks notes that there are still bullish divergence patterns present in the market, suggesting that another breakout could be on the horizon. These patterns indicate potential upward momentum, hinting at a possible recovery and a very optimistic price surge to new all-time highs. Bullish Divergences Are Still Present Crypto analyst Javon Marks recently shared an intriguing XRP technical analysis on the social media platform X with very bullish price prediction targets for the cryptocurrency.\u00a0 According to Marks, the crypto asset recently embarked on a bullish rally, which ultimately turned into an attempted breakout before reversing. The rally he was talking about was XRP’s price journey from $0.4321 in July, which saw it peak at $0.6534 on July 31, according to data from Coinmarketcap. As such, XRP ended up breaking out of a multi-year descending triangle pattern. Related Reading: Explosive XRP Prediction: Analyst Foresees 20-Fold Gain This interesting pattern is shown on Javon Marks’ XRPUSD monthly candlestick chart. The descending triangle pattern, which has been in formation since XRP’s all-time high of $3.4 in 2018, is characterized by a series of lower highs and higher lows. Over the past six years, this pattern has become smaller, reflecting a period of consolidation and reduced volatility. This formation has tightened for the past few months, culminating in the minor breakout in July and a move towards a more bullish outlook for XRP. Although the XRP price now finds itself trading within this region of descending triangular pattern again, Javon Marks remains optimistic. Furthermore, he pointed out an interesting correlation between the price action and the Relative Strength Index (RSI), which is a popular momentum indicator. According to Marks, this correlation suggests that a successful bullish breakout is on the horizon. $XRP recently broke out temporarily which looks to have been only an attempted breakout but, between Price Action and the RSI, there are patterns still present through bull divergences that can suggest a successful bullish breakout to be on the horizon! On a conservative note,\u2026 https:\/\/t.co\/BCrp9CwT6i pic.twitter.com\/XGGiv0nBDp \u2014 JAVON\u26a1\ufe0fMARKS (@JavonTM1) August 6, 2024 Price Targets For XRP According to Marks, a successful breakout would translate into a price range between $15 and $18 on the conservative end. A more intense rally could result in XRP reaching above the $100 price level. His final target on the price chart is $260 for XRP, which represents an increase of 41,780% from the current price level. Rallies of such magnitude are not new to the crypto industry. As Marks noted, we’ve witnessed full logarithmic scale follow-throughs of this nature in the past. The last time the altcoin broke out of a similar multi-year descending triangle pattern was in 2017, resulting in a 42,000% price increase that culminated in its current all-time high. Related Reading: XRP Price Recovery Encounters Hurdles: Will It Prevail? However, realistically speaking, the crypto market has evolved since then. XRP is now one of the largest cryptocurrencies in terms of market cap, and a repeat of such a 40,000% surge is easier said than done. A lone XRP rally of that magnitude would propel XRP to overtake even Bitcoin in terms of market cap, which many market participants would deem impossible. Nevertheless, a sustained XRP rally in the near future is not out of the question. At the time of writing, XRP is trading at $0.5162 and is up by 3% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":633906,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83363],"tags":[92861,10995,50132,92862,91731,16393,14763,4531,10972,78763],"class_list":["post-633905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-xrp","tag-bullish-divergence-pattern","tag-coinmarketcap","tag-descending-triangle","tag-full-logarithmic-scale-follow-throughs","tag-javon-marks","tag-relative-strength-index","tag-rsi","tag-xrp","tag-xrpusd","tag-xrpusdt"],"acf":[],"yoast_head":"\nXRP Prediction: Analyst Says Bullish Divergences Are Still Present, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"XRP is trading slightly above $0.50, having experienced a significant price decline that 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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