Top Analyst Identifies HIDDEN BULLISH DIVERGENCE in XRP and Projects 360x Rise to $200$
Javon Marks, a prominent market analyst, highlights a major bullish indicator for XRP, suggesting a potential surge that could see its value multiply 360 times to $200.
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Marks' analysis comes at a time when XRP is struggling to stay above the $0.51 support, a crucial level needed to protect against any collapse to the $0.50 zone. The analyst based his opinion on several technical indicators that point to a hidden bullish divergence, a pattern that could herald substantial gains for XRP investors.
A hidden bullish divergence occurs when an asset's price makes a higher low while a momentum indicator, such as the Relative Strength Index (RSI), makes a lower low. This pattern suggests that despite a price pullback, the underlying bullish momentum remains strong.
With XRP, both the RSI and price have confirmed this hidden bullish divergence, indicating underlying strength within the existing uptrend. Notably, on the 18-day chart, XRP has continued to record higher lows since 2020, while its RSI has continuously witnessed lower lows since 2016.
In addition to this bullish divergence setup, Marks notes that XRP is approaching the convergence point of a pennant or coil pattern.