XRP’s Potential 500% Surge: Hidden Bull Divergences Signal Major Breakout
- XRP nears a breakout after 7 years, approaching key resistance levels.
- Hidden bullish divergences suggest XRP could rally by 500%, reaching $3.31.
- Analyst Marks highlights weakening selling pressure and strengthening bullish momentum in XRP.
Ripple (XRP) is on the verge of a major breakout, and crypto analyst Javon Marks is sounding the alarm. According to Marks, XRP is approaching a key resistance level that’s been holding it down for nearly seven years.
What makes this setup particularly exciting is the emergence of hidden bullish divergences on the chart. If these divergences play out, Marks believes XRP could see a massive 500% rally, pushing the price to around $3.31.
$XRP is back approaching key breakout levels of this massive 6.5-7 year resisting trend! https://t.co/6qb0WBvdin
— JAVON⚡️MARKS (@JavonTM1) September 14, 2024
Hidden Bull Divergences: The Key to a Breakout?
Javon Marks points to hidden bullish divergences forming on XRP’s chart. These divergences often indicate underlying strength, even when prices aren’t immediately reflecting it.
This technical pattern can lead to major price movements once the trend finally breaks. With XRP nearing the breakout point of a trendline that has lasted 6.5 to 7 years, the potential for upward movement is huge.
Marks suggests this could trigger a climb back to the $3.31 area. This is a key price level XRP hasn’t seen since its 2018 bull run.
What Makes This Setup So Promising?
According to Marks, this setup is backed by significant technical factors. Hidden bull divergences occur when prices form lower lows, but the momentum indicators show higher lows.
Read CRYPTONEWSLAND on google newsThis suggests that selling pressure is weakening, and the bulls are quietly gaining control. Marks believes this situation is unfolding in XRP’s current price action, making it a prime candidate for a breakout.
If XRP manages to break through this long-standing resistance, it could quickly rally by up to 500%. Given the strength of these technical signals, traders may want to keep a close eye on this token.
The near seven-year trendline has acted as a strong ceiling for XRP, but if it cracks, the price could rocket to new heights. While the crypto market can be unpredictable, Marks’ analysis of XRP’s chart offers a hopeful outlook for the token.
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