The XRP price is currently consolidating after reaching new highs, but an analyst warns of an impending price crash. Despite a bullish Relative Strength Index (RSI) above 50%, the analyst notes potential corrections before an uptrend continues. The analyst highlights a double tap structure in RSI on the 4-hour chart, indicating further downward movement before stabilization.
Dark Defender, a crypto analyst, suggests XRP could experience a price crash after RSI dips into oversold territory again, stabilizing within support levels at $2.17 to $2.18. However, he maintains a broader bullish outlook, predicting XRP could reach $3 soon, marking a 40% increase from the support level.
The analyst also shares a 3-month chart analysis, painting a brighter picture for XRP. Breaking a multi-year resistance level for the first time in years, XRP shows strong bullish momentum. Dark Defender predicts a significant rise with Fibonacci levels at play, projecting a surge between $5 to $28, with safety levels at $0.9 during corrections.
This detailed technical analysis encourages investors to recognize short-term market fluctuations and plan for potential long-term gains in Q1 2025.
