Expert Says XRP to Rip Higher as It Attempts Bullish Breakout 6 Times in 2 Months

XRP has stood out during the current market cycle with expert analysts like Javon Marks signaling a significant bullish trend on the horizon.

Over the last two months, XRP has demonstrated remarkable resilience, attempting a bullish breakout more than six times since late July 2024. This pattern hints at an imminent surge that could see its value skyrocket to the $2-3 range soon.

Initial Analysis

In his initial analysis shared on Sept. 11, Marks highlighted the presence of multiple Hidden Bull Divergences in XRP’s price movements. Notably, despite XRP’s upward push over the past few months, the momentum indicators have not picked up.

For the uninitiated, a hidden bullish divergence occurs when the price of an asset makes higher lows, indicating an ongoing uptrend, while the oscillator (like RSI, MACD) makes lower lows, suggesting bearish momentum. 

These typically suggest a strong upward potential, capable of propelling XRP up by nearly 500% to around $3.31. This potential upsurge goes beyond XRP just reclaiming the $3.3 ATH. Notably, this also points to a breakthrough of a nearly 7-year resistance trend, setting a bullish precedent.

Updated XRP Analysis

In his most recent analysis, Marks confirmed that XRP’s outlook is now more bullish. According to Marks, the repeated efforts at a bullish breakout, coupled with favorable market signals, suggest that a major leap in price might be closer than many anticipate. 

$XRP has attempted a bullish breakout about 6 times or more since late July 2024 and with signals pointing towards a return back above $2-3, a holding and sustained breakout may be a matter of time and closer than many think!

In any moment, we can see XRP completely ‘rip’… https://t.co/4XS2uQuRtL

— JAVON⚡️MARKS (@JavonTM1) September 25, 2024

The anticipation builds around XRP’s potential to “rip” higher, sparking a growth trend that multiple investors and traders are currently awaiting. 

XRP Symmetrical Triangle 

Meanwhile, a look the monthly chart shows XRP trading within a symmetrical triangle. This pattern began forming back in April 2021 after a drop from a high of $1.96. Over the past three years, XRP has navigated this triangle, now nearing its apex—a critical point that could indeed trigger the upsurge.

In addition, multiple indicators further points to an imminent uptick. The monthly Directional Movement Index (DMI) reveals the +DI (Positive Directional Indicator) at 24.69. This confirms the predominant buying pressure, although the +DI has seen a slight decline in the past two months. 

However, the -DI (Negative Directional Indicator) stands at 10.87, indicating reduced selling pressure, while the ADX (Average Directional Movement Index) at 40 suggests a strong trend. These figures, moving sideways recently, still support a potential breakout due to the accumulated pressure within the triangle.