XRP Price Continuation After Crash Below $2.4? New Targets Emerge

XRP’s recent price movements have been following a pattern that suggests the potential for a strong continuation rally, according to crypto analyst Javon Marks. Despite the ongoing price crash, Marks pointed to a “hidden bullish divergence” on XRP’s daily candlestick chart, indicating new bullish targets for the XRP price.

XRP’s Price Crash Worsens, But Hidden Bullish Divergence Suggests Next Move

XRP has been facing consistent downward pressure, with a significant decline in the past 24 hours. The price has dropped by approximately 13% and is approaching a crucial support level at $2.

However, analysis shows that this decline is part of a hidden bull divergence pattern, where the price and RSI indicators are creating higher lows and higher highs on the XRP price chart, while showing lower lows and lower highs on the RSI indicator. This bullish divergence suggests a slowing down of selling pressure.

Javon Marks believes XRP is gearing up for a “massive continuation wave up” with technical confirmations already in place. His projection indicates a potential price target of at least $3.80, surpassing the current all-time high of $3.40.

Crash To Reverse Soon? Price Targets To Watch

The bullish outlook depends on XRP holding above the support level at $2. A sustained breakdown below this threshold could challenge the projected rally. Marks also noted similarities between XRP’s current consolidation phase and a past consolidation period that led to a significant rally.

At the time of writing, XRP is trading at $2.15, down by 13.2% in the past 24 hours. It is important for XRP to maintain the $2 support level to avoid further downside.

Featured image from Adobe Stock, chart from Tradingview.com