Cryptocurrency

Dark

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/analyst-predicts-downward-movement-for-xrp/" data-wpel-link="internal">Analyst Predicts Downward Movement for XRP</a><br></p>
<p style="text-align: justify"><strong>Cryptocurrency</strong> <a href="https://en.coin-turk.com/latest-update-on-ripple-case-trial-date-set-for-next-year/" data-wpel-link="internal">XRP</a> 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.</p> 
<h2 style="text-align: justify" id="weakness-in-xrp-s-price-movement">Weakness in XRP’s Price Movement</h2> 
<p style="text-align: justify">According to analyst <strong>Dark Defender</strong>‘s observations, XRP continues to trade below $0.4623 for two consecutive 4-hour candles, keeping <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> on edge. It is noted that XRP’s trading volume is quite low and there is a lack of active market participation.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367876 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/xrp-1.png" alt="" width="491" height="695"></p> 
<p style="text-align: justify">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.</p> 
<h2 style="text-align: justify" id="critical-support-level-for-xrp-0-3917">Critical Support Level for XRP: $0.3917</h2> 
<p style="text-align: justify">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.</p> 
<p style="text-align: justify">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.</p> 
<h2 style="text-align: justify" id="relative-strength-index-and-oversold-region">Relative Strength Index and Oversold Region</h2> 
<p style="text-align: justify">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.</p> 
<p style="text-align: justify">Dark Defender’s evaluation underscores the unstable position of <strong>XRP</strong> 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 <strong>price</strong> may remain under pressure in the near term.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/analyst-predicts-downward-movement-for-xrp/" data-wpel-link="internal">Analyst Predicts Downward Movement for XRP</a></h5>

Analyst Predicts Downward Movement for XRP

Table of Contents

COINTURK NEWS

Other articles published on Jul 4, 2024

Bitcoin Whales Transfer $3B BTC; Further Decline Ahead?

Investor Sells Michi Tokens for Profit

Concord developers defend PSN requirement while revealing monetization details

New York Times AI lawsuit twist: OpenAI demands article sources

Major Public Miners Increase Production as Smaller Operators Capitulate

Qubetics Whitelist: The Next Big Thing in Blockchain, Eyes Solana and SingularityNET’s Market

Join our free newsletter for daily crypto updates!