Cryptocurrency XRP continues to receive evaluations. The latest evaluation came from analyst Dark Defender. The analyst predicted a downward movement for XRP. This situation inevitably causes investor anxiety. Let’s take a look at the analyst’s evaluations.
Weakness in XRP’s Price Movement
According to analyst Dark Defender‘s observations, XRP continues to trade below $0.4623 for two consecutive 4-hour candles, keeping investors on edge. It is noted that XRP’s trading volume is quite low and there is a lack of active market participation.
This low volume indicates that there is very little enthusiasm among investors to buy or sell XRP at current price levels. Therefore, there is a noticeable weakness in XRP’s price movements. According to the analyst, this weakness highlights a critical support level in XRP’s price.
Critical Support Level for XRP: $0.3917
Known for its volatile nature, XRP appears ready for further potential decline towards the critical support level of $0.3917. According to Dark Defender, if the next candle closes below $0.4623, the likelihood of XRP testing this support level increases significantly.
This scenario indicates that market sentiment is currently bearish, and unless there is a significant change in trading activity or sentiment, prices are likely to continue to decline.
Relative Strength Index and Oversold Region
In his analysis, the analyst also considers the Relative Strength Index (RSI), which shows that XRP is currently in the oversold region. An oversold RSI typically indicates that the asset may be undervalued and could potentially see a trend reversal. However, with low trading volume, the cautious outlook on XRP’s immediate price expectations is reinforced.
Dark Defender’s evaluation underscores the unstable position of XRP in the market, suggesting that the current price movements are driven more by lackluster trading activity than strong market conviction. This shallow volume and oversold conditions indicate that XRP’s price may remain under pressure in the near term.
