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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 AMB Crypto

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Bitcoin Drops Below $98K—Is This the Perfect Buying Opportunity for Investors?

Bitcoin, the leading cryptocurrency by market capitalization, has recently experienced a significant and sudden price correction, sparking debate among investors. Concerns have surfaced about whether this downturn signals the conclusion of the current bull cycle or merely represents a temporary setback. While short-term holders face losses, long-term metrics provide a broader perspective on Bitcoin’s trajectory, as analyzed by CryptoQuant’s Avocado Onchain in a recent report. Related Reading: As Bitcoin Reclaims $100,000, Warning Signs Emerge from Long-Term Investors Opportunity Or End of The Bull Cycle? According to Avocado Onchain, the realized price for investors who entered the market during Bitcoin’s recent peak at $98,000 places them in a loss-making position. However, for those who invested between one to three months ago, the realized price is significantly lower at $71,000, offering a cushion against the current correction. Avocado pointed out that historical patterns from Bitcoin’s 2021 bull cycle reveal similar alternations between record highs and sharp corrections, suggesting that these dips may not necessarily indicate the end of the cycle. Instead, they have historically been “opportunities” for market rebalancing and subsequent growth. A key indicator analyzed is the 30-day moving average of the short-term SOPR (Spent Output Profit Ratio). This metric tracks whether recent market participants are selling at a profit or a loss. The current SOPR data reveals that recent short-term inflows into Bitcoin have yet to result in substantial profit-taking. Unlike previous cycle peaks characterized by aggressive selling, the ongoing correction appears subdued, indicating that the market may still have room for upward movement. Bitcoin Short-Term Dips vs. Long-Term Trends Additionally, Avocado Onchain highlights the importance of distinguishing between short-term corrections and broader cycle trends. Bitcoin’s tendency to rebound after corrections in past bull cycles reinforces the notion that the current downturn might not mark the cycle’s end. These insights align with the behaviour of long-term holders, who often use corrections to consolidate their positions, strengthening market resilience. Related Reading: Is The Bitcoin Top In For This Cycle? On-Chain Signals You Need To Know Avocado concluded the analysis, noting: For investors who have yet to enter the market, this may be an excellent opportunity to buy Bitcoin at a discount. Instead of succumbing to panic selling during short-term downturns, adopting a long-term perspective and a dollar-cost averaging (DCA) strategy could be a more effective approach. At the time of writing, Bitcoin is seeing a gradual rebound in its price surging by 1.3% in the past 1 hour. Regardless, the asset still appears to be overshadowed by the bears as BTC remains down by 3.5% in the past day and 10.5% from its peak of $108,135 recorded last week. Featured image created with DALL-E, Chart from TradingView AMB Crypto