The recent XRP price movements have followed a model that the Crypto Javon Marks analyst believes that the potential of a solid continuation gathering points out. Sharing his analysis on the social media platform X, Marks underlined a “hidden divergence” on the daily table of XRP candlesticks. Despite the current price accident, the presence of This bullish divergence Opens new bullish targets for the XRP price.
The XRP price accident gets worse, but the hidden divergence suggests the next movement
XRP price action faced a coherent drop pressure During last week, the decline intensifying in the last 24 hours. At the time of writing the editorial staff, XRP fell by around 13% in the last 24 hours and is on the point of retesting a crucial level of support at $ 2.
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However, an interesting analysis shows that this decrease is part of a Hidden bull divergence PATTERN, where the price and RSI indicators create a series of ups and downs on the candlestick period of a day. This interesting model is characterized by highest stockings and higher highs on the XRP price table, while there is a series of lower stockings and lower ups on the RSI indicator. This divergent training between the price of cryptocurrency and the RSI is known to be optimistic. In particular, he suggests that the sales pressure indicated by the RSI could slow down.
Javon Marks stressed that XRP Prepare for A “wave of massive continuation” and that the technical confirmations necessary for such a movement are already in place. This assertion is based on His previous Analysis of February 18, where he described the divergence raised hidden as forming in a manual way.
Crash to reverse soon? Price targets to be monitored
According to the projection of Javon Mark, an upward decision would see the XRP price finally created a higher summit, as expected from the Haussier divergence model. In terms of specific price target, the projection of Mark shows that the following peak could reach at least $ 3.80. If it is done, it would push XRP beyond its top of $ 3.40 current.
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However, this perspective depends on the XRP price Above The bullish divergence support at $ 2. Any ventilation sustained below this threshold could question the strength of the projected rally and modify upward perspectives.
Adding to this perspective, Marks has also noted the similarity between the consolidation of XRP in recent weeks since she reached $ 3.36 and that of a consolidation after a strong rally in the first half of 2017 after a strong rally.
Although the current consolidation phase lasted longer than that observed at the time, the two training courses share key structural similarities. The consolidation of 2017 finally led to a continuation rally which pushed the XRP price to new heights. If history is repeated, current consolidation could also be a precursor of another important step.
At the time of writing this document, XRP is negotiated at $ 2.15, down 13.2% and 15.9% in the last 24 hours and seven days, and is now in danger of losing The support of $ 2.0 soon.
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