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XRP Price Crash: Analyst Says Don’t Get Distracted As RSI Is Still Above A Bullish 50%

Recent technical analysis has revealed that the XRP price is consolidating after breaking key resistance levels to new highs. A crypto analyst has warned of an impending XRP price crash, urging investors not to get distracted as the RSI is still significantly above 50%. Discussing his predictions through short and long-term XRP price charts, the analyst shows that the cryptocurrency is firmly positioned in a bullish trend despite impending corrections. XRP Price RSI Hints At Potential Crash On the 4-hour XRP chart, a double tap structure is highlighted in the Relative Strength Index (RSI), a technical indicator used to measure the momentum of a cryptocurrency. This double tap pattern typically signals further downward movement before a price stabilization. Related Reading: This Analyst Predicted The Dogecoin Price Crash 2 Days Ago, Full Prediction Shows A Further 30% Decline According to Dark Defender, a crypto analyst on X (formerly Twitter), the RSI’s recurrent dips into oversold territory indicate that XRP could experience a price crash to new lows. The analyst disclosed that the XRP price had previously found strong support at $2.17; however, the cryptocurrency experienced a bounce to the upside. After hitting this support level, the XRP price is now consolidating, a pattern often associated with a potential uptrend after a correction. Despite the slight market recovery, the analyst has warned of another impending price crash in this same support zone as the RSI approaches oversold levels once more. Earlier in December, the RSI had hit oversold territories after dipping below 30%. Now XRP’s RSI is above 50% and signaling a potential to experience a price correction between the support levels at $2.17 and $2.18. Dark Defender has revealed that this price crash could occur soon as XRP is expected to enter oversold territory within a day. Despite this potential price correction, the analyst has acknowledged that the XRP’s broader outlook still looks bullish, with an uptrend continuation expected once the market consolidates following its projected price dip to new lows. Dark Defender has also predicted that XRP’s next price target after this projected correction is likely above $3, marking an almost 40% increase from the $2.17 support area. XRP 3-Month Chart Signals Strong Bullish Set Up Following his predictions that the XRP price could crash as it enters oversold conditions, Dark Defender also shared a 3-month chart analysis, painting a brighter outlook for the cryptocurrency. The chart shows that XRP has recently broken through a multi-year resistance level for the first time in over five years, signaling a strong bullish shift. Related Reading: Bitcoin Price Crash Below $100,000 Not The End As Analyst Predicts Another 52% Jump The three-month green candle structure between October and December confirms strong buying pressure, setting the stage for a potentially bullish Q1 2025 from January to March. A rounded bottom pattern can also be seen on the XRP 3-month chart. This pattern is a classic bullish reversal structure that indicates a gradual move from a downtrend to an uptrend. Dark Defender has marked several Fibonacci levels as potential price targets for XRP. According to the analyst, XRP could see a 261.80% rise to the 5.8563 Fibonacci level between $5 to $9. After which, the analyst expects a 361.80% surge to the 18.2275 Fibonacci between $16 to $28. Support levels at the 0.6649 Fibonacci at $0.9 have also been highlighted, acting as a safety net for XRP during price corrections. Featured image created with Dall.E, chart from Tradingview.com Bitcoin.com

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Is XRP’s Bottom In? Ripple Explodes 20% From $1.96 Lows

TL:DR; The entire cryptocurrency market went through a massive crash in the past few days, but Ripple’s cross-border token was among the poorest performers. Since then, though, XRP has gained roughly 20%, leading to the question of whether it has found its bottom. XRP Bounces Off The developments at the start of the business week couldn’t really foresee what would transpire just a few days later. On Monday, Ripple announced that its long-awaited stablecoin will finally see the light of day on the next day (December 17) after it was greenlighted by the NYDFS. XRP’s price reacted positively to both the announcement and the subsequent launch as its price skyrocketed from $2.35 to a multi-day peak of over $2.7 by Tuesday. After a minor retracement to $2.6, things went sour on Wednesday after the latest US FOMC meeting. XRP, alongside the rest of the market, plummeted to under $2.25, losing nearly 20% of its value in 36 hours. Although that was already a painful retracement, the landscape worsened on Thursday and Friday as the asset plunged to below $2 for just the third time since December 1. Thus, Ripple’s token had dumped by 28% from Tuesday to Friday, going from $2.72 to $1.96. The bulls finally stepped up at this point and didn’t allow any further declines. Just the opposite, XRP bounced off and has gained about 20% since then, currently sitting at $2.35. According to popular X analyst Dark Defender, XRP “double tap on 4-hour charts for both on RSI and Price,” which, alongside the “tremendous bullish pin” on the daily chart, suggests that the asset has already bottomed and is ahead of more gains. XRP double tap on 4-hour charts for both on RSI and Price. Additionally daily frame has a tremendous bullish pin bar. These are initial signals for momentum to continue. Time will tell pic.twitter.com/85zgnzOhvC — Dark Defender (@DefendDark) December 20, 2024 It’s About Perspective During the lows, many crypto commentators started to speculate whether the overall bull cycle had ended. After all, the entire crypto market cap lost roughly $500 billion in just days at one point. However, Moon Lambo outlined a different view for those retracements, including XRP’s plunge. The YouTuber talked about having a perspective, as XRP, for instance, stood below $0.5 less than two months ago. Consequently, going from over $2.7 to under $2 is indeed painful, but looking at it on a broader scale, it still shows that the asset is a lot higher than it used to be just weeks ago. As someone who has been holding $XRP for over 7 years, while the price has been well under $1.00 for almost 100% of that time, and having never sold a single $XRP ever, I must say… I find it amusing that people are freaking out that $XRP *dropped* to $2.15. Bitch it was 49… pic.twitter.com/1FoohjdxUv — Moon Lambo (@MoonLamboio) December 20, 2024 The post Is XRP’s Bottom In? Ripple Explodes 20% From $1.96 Lows appeared first on CryptoPotato . Bitcoin.com