Analyst Predicts Potential XRP Reversal Amid 17% Monthly Decline
XRP Falls 17% In A Month, But The Market Is About To 'Trick Everyone,' Analyst Claims

Image: Benzinga
XRP has fallen approximately 17% over the past month and is currently testing a crucial weekly support zone. An analyst from Mango Research suggests that while bearish trends dominate, signs of seller exhaustion may indicate a potential reversal in the near future.
- 01XRP has dropped about 17% in the past month, indicating bearish control in the market.
- 02The analyst from Mango Research previously ignored bearish signals, expecting Bitcoin to rise, but now recognizes XRP's influence on Bitcoin's decline.
- 03Current volatility levels suggest potential seller exhaustion, historically indicating upcoming price reversals.
- 04The weekly Relative Strength Index (RSI) is nearing oversold territory, lower than previous bear market bottoms.
- 05A weekly candle close below the support zone would negate the current bullish outlook for XRP.
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XRP (CRYPTO: XRP) is facing a significant downturn, having decreased by approximately 17% over the past month, as it approaches a critical weekly support zone. An analyst from Mango Research, who initially overlooked bearish signals, now acknowledges that XRP was among the first to indicate market weakness, which eventually influenced Bitcoin's decline. Despite the prevailing bearish sentiment, the analyst notes a surge in volatility that may suggest seller exhaustion is developing. Current momentum oscillators indicate that XRP is nearing levels associated with local bottoms and potential relief rallies. The weekly Relative Strength Index (RSI) is approaching deeply oversold territory, a condition seen during previous bear market bottoms. The analyst emphasizes that the support zone remains intact unless a weekly candle closes below it, which would signal a more negative outlook. If XRP can maintain its support, there is potential for the token to establish a rounded consolidation structure before attempting a larger breakout later in the cycle.
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