XRP’s recent price movements have followed a pattern that crypto analyst Javon Marks believes signals the potential for a strong continuation rally. Sharing his analysis on the social media platform X, Marks pointed to a “hidden bullish divergence” on XRP’s daily candlestick chart. Despite the ongoing price crash, the presence of this bullish divergence opens up new bullish targets for the XRP price.

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

XRP’s price action has faced consistent downward pressure over the past week, with the decline intensifying in the past 24 hours. At the time of writing, XRP has dropped by approximately 13% in the past 24 hours and is on the verge of retesting a crucial support level at $2.

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However, an interesting analysis shows that this decline is part of a hidden bull divergence pattern, where both the price and the RSI indicators are creating a series of highs and lows on the 1-day candlestick timeframe. This interesting pattern is characterized by higher lows and higher highs on the XRP price chart, while there’s a series of lower lows and lower highs on the RSI indicator. This divergent formation between the cryptocurrency’s price and the RSI is known to be bullish. Particularly, it suggests the selling pressure shown by the RSI could be slowing down.

Javon Marks emphasized that XRP is preparing for a “massive continuation wave up” and that the necessary technical confirmations for such a move are already in place. This assertion builds upon his earlier February 18 analysis, where he described the hidden bullish divergence as forming in a “textbook fashion.

Crash To Reverse Soon? Price Targets To Watch

According to Javon Mark’s projection, an upside move would see the XRP price eventually creating a higher high, as expected from the bullish divergence pattern. In terms of a specific price target, Mark’s projection shows that the next peak could reach at least $3.80. If realized, this would push XRP beyond its current all-time high of $3.40. 

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However, this outlook hinges on the XRP price holding above the bullish divergence support at $2. Any sustained breakdown below this threshold could challenge the strength of the projected rally and alter the bullish outlook.

Adding to this perspective, Marks also noted the similarity between XRP’s consolidation in the past few weeks since it reached $3.36 and that of a consolidation after a strong rally in the first half of 2017 after a strong rally. 

Although the current consolidation phase has lasted longer than the one observed back then, both formations share key structural similarities. The 2017 consolidation ultimately led to a continuation rally that pushed the XRP price to new highs. If history repeats itself, the present consolidation could also be a precursor to another significant leg up.

At the time of writing, XRP is trading at $2.15, down by 13.2% and 15.9% in the past 24 hours and seven days, respectively, and is now in danger of losing the $2.0 support soon.

Featured image from Adobe Stock, chart from Tradingview.com

Revolutionary meme cryptos have captured the attention of crypto enthusiasts even as majors like Bitcoin continue to experience selling pressure. For instance, two weeks into its presale, Bitcoin Pepe has already sold out four stages. For the early adopters who bought BPEP tokens at the launch price of $0.0210, their investment has already earned cumulative gains of 15.7%. 

By the end of the 30 stages, the token price will have increased by 311.4%. As such, this is the opportune time for investors to jump onto this profitable bandwagon.

A plunge below $90k pushes Bitcoin price to the oversold territory 

After hitting a fresh all-time high about a month ago, Bitcoin price has plunged below the crucial support zone of $89,000 for the first time since mid-November 2024. At the time of writing, it was trading at $86,750 after extending losses from the past two sessions.

While the bulls remain optimistic that the crypto major will reach $200,000 later in the year, low trading activity will likely yield further losses in the near term. 

A look at its daily chart shows Bitcoin price trading below the 25 and 50-day EMAs. Notably, these two MAs have formed a bearish death cross pattern; pointing to further losses in the immediate term. Besides, the RSI of 27 places the crypto in the oversold territory with the indicator facing downwards. 

Based on the technicals, the range between $85,073 and $89,811 will be worth watching. Even with further correction, it will likely face resistance at $91,524 amid insufficient bullish momentum. On the flip side, the lower support zone of $81,468 may be an apt level to place a stop loss.   

Bitcoin Pepe stands tall amid Bybit-related jitters

As the Bybit and Infini hacks yield a sell-off in the broader crypto market, Bitcoin Pepe has maintained its upward momentum. Its positioning, timing, and infrastructure have made it particularly attractive among meme coin lovers. 

To start with, it has entered the market during the tenure of pro-crypto US president. This environment, coupled with its approach of building “Solana on Bitcoin” has more investors rushing to amass some BPEP tokens while they are still affordable. 

Besides, its layer 2 solution, which promises to make Bitcoin network a playfield for meme coins, is Bitcoin’s missing puzzle. It merges the speedy transactions of Solana with Bitcoin’s security and the ultra-popular meme culture. 

As at the time of writing, it had raised over $3.4 million. Ahead of its listing in Q2’25, the project has the potential to have its value surge multiple folds. Hurry up and buy Bitcoin Pepe here.

Ethereum price finds new footing in the thick of the crypto selloff 

Jitters emanating from the Bybit hack have fueled the latest crypto selloff. Similar to other crypto majors, Ethereum price has plunged below previously stable support levels. More specifically, it broke the support at $2,500, which has been steady since early November 2024.

At an RSI of 35, it is close to the oversold territory. Besides, it continues to trade below the short-term 25-day EMA as seen on its daily chart.

In the immediate term, Ethereum price will likely find support at Tuesday’s intraday low of $2,317 while it finds some resistance at $2,565. A further rebound may curb its gains along the 25-day EMA at $2,765.

A new report from Taraxa claims that many leading blockchain projects have dramatically overestimated their throughput. The study shows that major blockchain networks like Sonic, Solana, and Aptos have a significant gap between theoretical TPS (transaction per second) and the actual max TPS on the mainnet.

The findings suggest a massive overestimation of network efficiency and speed for these networks.

Most Blockchains Overestimate Efficiency

Taraxa, a Layer-1 blockchain, conducted an extensive analysis of several leading blockchains. It’s evident that most networks publicize new advances in their blockchain’s throughput, but many of these tests are conducted in ideal conditions. This study wished to observe how the most ‘bullish’ claims compare to regular operating conditions.

“Investors, developers, and users deserve transparency. The blockchain industry has long been obsessed with theoretical performance figures, but numbers generated in a lab mean little if they can’t be replicated in real-world conditions,” Taraxa co-founder Steven Pu said in an exclusive press release shared with BeInCrypto.

This investigation sought to assess these real-world conditions through a metric called “TPS per dollar.” Taraxa compared a blockchain’s transactions per second to the actual cost of running a validator node and used that to determine actual throughput.

This would be a more accurate way to determine how well these firms can live up to expectations.

Case in point, the study looked at the highest-ever recorded throughput on several blockchain projects, with a few important caveats. Permissioned and sharded networks were excluded, and some specific transactions (like voting transactions) were discarded to avoid number inflation.

Then, these figures were compared to developer-provided TPS claims:

The results of this test revealed extremely high exaggeration. Sonic (formerly Fantom) reported blockchain throughput over 100x its actual capabilities, but the industry average was 20x. The L1 blockchain space is full of fierce competition, providing a clear incentive for this systematic inflation.

“Our research also shows that many networks require expensive hardware just to achieve modest transaction rates, which is neither technically impressive nor decentralized. By focusing on verifiable data from live networks, we can shift the conversation toward meaningful performance metrics,” Pu added.

Comparing TPS to dollar costs also provided interesting data. Solana had the highest costs by far, but it used these resources efficiently to maintain a high blockchain throughput. Taraxa also claimed that it had the best ratio in the entire industry by wide margins, which may impact its reasons for conducting the study and using this metric.

Regardless of the firm’s desire to market its own capabilities, blockchain throughput estimations seem heavily inflated across the whole industry. Taraxa has been analyzing several crucial Web3 sectors, such as the AI industry, and its results seem valuable.

Hopefully, some hard data here will encourage more realistic reporting from these projects.