Here’s Why The XRP Price Still Isn’t Bearish Despite The 50% Flash Crash

The XRP price recently saw a sharp drop that was very scary for many traders, and some in the crypto market think the chart looks weak now. However, an analyst on X, Cryptoinsightuk, ￰0￱ analyst explains that XRP is not bearish right now, even after the 50% flash crash, and the price can still move higher when liquidity ￰1￱ Downside Liquidity And Weekly Chart Still Looks Fine For The XRP Price Cryptoinsightuk says that XRP has “no downside liquidity.” The analyst explains that sellers are not strong, so there is very little liquidity sitting below the current price ￰2￱ does not mean the XRP price will stay still, although it may move up and down for ￰3￱ some point, exchanges and market makers may push the price higher into deeper liquidity, where they can make ￰4￱ Reading: Ethereum Price Prediction: Analyst Forecasts What Will Happen In The Last Quarter Of The Year The analyst says that the flash crash does not damage the weekly ￰5￱ weekly picture still shows a normal trend even after the sharp ￰6￱ notes that online discussions are focusing on the monthly chart and using it to claim that XRP is weak, but the monthly chart alone is only one timeframe and not enough to call the price truly ￰7￱ slight drop shows weakness only on lower timeframes, not in the broader market structure, and Cryptoinsightuk believes the bigger structure is still pointing up, which is a key reason he does not see a bearish trend forming even after the 50% flash ￰8￱ analyst’s comment about market makers also gives hope to traders who worry that the XRP price will keep ￰9￱ market makers see better opportunities at higher price levels, the price often moves up to where they want to make ￰10￱ gives XRP a path to recovery later, rather than staying ￰11￱ keeps pointing to the weekly chart because it shows that XRP still holds its larger bullish setup even after the fear caused by the flash ￰12￱ Timeframes Look Strong, And RSI Fractal Points To A Move Up Cryptoinsightuk further adds that higher timeframes are always more reliable for reading price trends and recommends looking at the XRP price chart over the past three ￰13￱ his view, the three-month chart looks good and supports a strong long-term ￰14￱ also looks at the daily RSI, and it recently hit an oversold ￰15￱ this happened the last time, the XRP price later saw a strong move ￰16￱ analyst shared a fractal a few weeks ago that shows what a new “measured move” could look like if this same pattern ￰17￱ Reading: Dogecoin RSI Breakout Shows Main Target, Why $1 Is Still Possible The fractal suggests the XRP price could rise again from ￰18￱ oversold RSI signal suggests that buyers could return and push the price higher in the ￰19￱ image created with Dall.

E, chart from ￰20￱