In his latest tweet, cryptocurrency analyst JAVON MARKS has made a bold prediction for Ripple (XRP), suggesting that the digital asset could be on the verge of a massive price surge.
According to MARKS, XRP is currently exhibiting a highly similar hidden bullish divergence pattern that previously led to a +62,100% climb between 2017 and 2018.
The analyst notes that with prices nearing major converging and breakout points, in addition to the observed divergence, a bullish breakout to the upside appears extremely likely.
$XRP (Ripple) continues to hold and showcase a highly similar Hidden Bullish Divergence that previously (2017-2018) led into an approximately +62,100% climb!With the noticing of prices nearing alternative major converging/breakout points and this divergence occurring, a bullish… https://t.co/HvFsDB195i pic.twitter.com/g1YFqgSIL5
— JAVON MARKS (@JavonTM1) June 19, 2024
This breakout, MARKS suggests, could lead to another upside climb, potentially propelling XRP into the $10s, $20s, and even higher, at a pace that may catch many investors off guard.
Sideways Consolidation Nearing Completion
Supporting MARKS’ bullish outlook, Matthew Dixon, CEO of Evai, has also shared his thoughts on XRP’s recent price action. In a tweet, Dixon points out that XRP has been lagging lately, trading in a clear sideways consolidation pattern. However, he believes that this consolidation should be complete or near completion, setting the stage for a nice rally to at least the $0.60 area.
#XRP lagging lately, in clear sideways consolidation. That consolidation should be complete or near completion which would allow for a nice little rally to at least the $XRP 0.6 area imo. Even though that would likely be followed by a Y wave, larger upside move then should follow pic.twitter.com/MzpW3td31i
— Matthew Dixon – CEO Evai (@mdtrade) June 20, 2024
Dixon acknowledges that this initial rally will likely be followed by a Y wave, but he maintains that a larger upside move should follow thereafter. This analysis aligns with MARKS’ prediction of a major price surge for XRP in the near future.
While the technical analysis provided by both MARKS and Dixon paints a bullish picture for XRP, it is worth considering the potential catalysts that could drive such a price increase. One major factor is the ongoing legal battle between Ripple Labs, the company behind XRP, and the U.S. Securities and Exchange Commission (SEC).
Read more: Crypto Expert Reveals 13 Tokens, Including Render (RNDR) and PAAL AI, That Could Surge Up to 69x
If Ripple were to secure a favorable outcome in this case, it could provide a substantial boost to XRP’s price, as it would alleviate concerns about the digital asset’s regulatory status and potentially open the door for wider institutional adoption.
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The post Crypto Analyst Makes Shocking Ripple (XRP) Price Prediction – $10 or More Coming ‘Sooner Than You Think’ appeared first on CaptainAltcoin.
