XRP Price Drops Sharply: Analysts Warn of Further Decline

Recent technical analysis shows that the price of XRP is consolidating after breaking through key resistance levels to new highs. A cryptocurrency analyst has warned of an impending XRP price crash, advising investors not to be swayed as the RSI is still significantly higher than 50%. Discussing his predictions through short-term and long-term XRP price charts, the analyst indicates that this cryptocurrency is in a strong position in the upward trend despite an upcoming adjustment. The XRP RSI Price Suggests Potential Collapse On the 4-hour XRP chart, the double tap structure is marked in the Relative Strength Index (RSI), a technical indicator used to measure the momentum of cryptocurrencies. This double tap pattern often signals the next downward movement before the price stabilizes. According to Dark Defender, a cryptocurrency analyst on X (formerly Twitter), the continuous decrease of RSI into the oversold zone indicates that XRP may undergo a new low price dip. The analyst revealed that the price of XRP had previously found strong support at $2.17; however, this cryptocurrency has experienced a recovery in an upward direction. After touching this support level, the XRP price is currently consolidating, a pattern often associated with potential upward trend after correction. Although the market is recovering slightly, analysts have warned of another price collapse in the same support area as the RSI once again approaches the oversold level. At the beginning of December, RSI touched the oversold zone after dropping below 30%. Currently, XRP's RSI is above 50% and signals the possibility of price adjustment between the support levels of $2.17 and $2.18. Dark Defender has revealed that this price drop may occur soon as XRP is expected to enter the oversold zone within a day. Despite this potential price correction, analysts acknowledge that the overall prospects for XRP still appear optimistic, with expectations of continued upward trends as the market consolidates after the expected price drop to new lows. Dark Defender also predicts that the next price target for XRP after this anticipated adjustment is likely to be above $3, marking an increase of nearly 40% from the $2.17 support level. 3-Month Chart of XRP Signals Strong Price Surge Set Up After predicting that the price of XRP could collapse when it entered oversold conditions, Dark Defender also shared a 3-month chart analysis, drawing a brighter outlook for the cryptocurrency. The chart shows that XRP has recently broken through a long-standing resistance level for the first time in over a year, signaling a strong uptrend. A three-month green candle structure between October and December confirms strong buying pressure, setting the stage for a potential price increase in the first quarter of 2025 from January to March. A rounded bottom pattern can also be seen on the 3-month chart of XRP. This pattern is a classic bullish reversal structure indicating a gradual shift from a downtrend to an uptrend. Dark Defender has marked some Fibonacci levels as potential price targets for XRP. According to the analyst, XRP could rise by 261.80% to the Fibonacci level of 5.8563 in the range from 5 to 9 dollars. Then, the analyst expects a 361.80% increase to the Fibonacci level of 18.2275 in the range from 16 to 28 dollars. Support levels at Fibonacci 0.6649 at the 0.9 dollar level have also been highlighted, serving as a safety net for XRP during price adjustments. DYOR! #Write2Win #Write&Earn $XRP {spot}(XRPUSDT)