The Ripple Effect: If This Historical Pattern Plays Out Like in 2018, XRP Price Will Explode
In his latest analysis, crypto expert Javon Marks has identified a potentially game-changing pattern in Ripple’s XRP price chart. He draws parallels to the token’s historic performance in 2018.
This technical setup, combined with other bullish indicators, suggests that XRP could do a massive surge soon.
What you'll learn 👉
Technical Analysis Reveals Bullish Coil Pattern
Marks highlights a combination of technical factors that point towards a significant upward movement for XRP:
The XRP price chart currently displays a widely recognized Symmetrical Triangle or Pennant Pattern. This formation, coupled with descending volume, is indicative of a coil pattern. In technical analysis, such patterns often precede a continuation of the previous trend.
The analyst emphasizes that the previous uptrend saw XRP climb over 110,000%. A continuation of this trend could lead to extreme price movements.
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Show more +Hidden Bullish Divergence Confirmed
One of the key elements in Marks’ analysis is the confirmation of a Hidden Bullish Divergence:
- The Relative Strength Index (RSI) has been setting lower lows
- Simultaneously, the price has been forming higher lows
This divergence between price action and momentum is a strong bullish signal. This implies a potential return to the $1.44 level. Such a move could act as a catalyst, pushing XRP out of the current coil/Symmetrical Triangle pattern.
Marks presents another scenario based on historical data and logarithmic analysis:
- A full logarithmic follow-through could push XRP beyond $200
- This represents a potential 400x return from current levels, or a >39,000% climb
- The analyst notes that XRP has achieved similar percentage gains in the past
Read more: Polkadot (DOT) Primed for Breakout? 60% Staking Rate Squeezes Supply as Analysts Eye $20+ Target
Conservative Price Targets
While the logarithmic scenario presents an extremely bullish case, Marks also offers more conservative projections:
- Without a full logarithmic follow-through, levels between $15-$20 are considered achievable
- These targets are based on a breakout from the current pattern
The analysis takes into account several volume and momentum factors:
- Descending volume within the Symmetrical Triangle supports the coil pattern theory
- High volume accompanying recent price movements adds credibility to the potential breakout
- The RSI’s behavior, forming lower lows against price higher lows, strengthens the bullish case
Javon Marks’ analysis paints a picture of XRP at a critical juncture, with technical indicators aligning to suggest the potential for explosive growth. While the most bullish scenario of a 400x return may seem extreme, there is scope for XRP to surge.
Read more: Analyst Predicts Where Ripple’s XRP Price is Headed Next: Hint – ATH Incoming
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