⭐️ Ripple (XRP): the forecasts of the analysts
The crypto market is experiencing a period with bear waves that continue to keep high pressure on numerous digital currencies: among these, Ripple’s XRP is following the same trend, let’s look at the forecasts.
The current situation of the crypto market and Ripple XRP forecastsTechnical signals of a trend reversalConclusions
The cryptocurrency market is known for its volatility and rapid price changes. Recently, the market has seen a phase of consolidation, with many digital assets moving within a narrow range. This phase of sideways movement is often characterized by high bear pressure, which can last for weeks or even months.
XRP, la criptovaluta di Ripple, has not been immune to this trend. After experiencing a significant drop, XRP continued to move sideways, without clear signs of an imminent recovery. However, recent movements on Ripple’s charts suggest that a turnaround might be near.
One of the most followed analysts on Twitter, known as The Ripple Effect, recently shared his predictions on XRP. According to the analyst, the price surge could be delayed, suggesting that the current bear outlook might persist for a few weeks. Despite this, The Ripple Effect remains optimistic that a trend reversal is on the horizon.
According to the analyst, the charts of XRP show signs of accumulation, a phenomenon that often precedes a trend reversal. Accumulation occurs when investors start to gradually buy an asset, preparing for a future price surge. This phase can last several weeks, during which the price of the asset remains relatively stable.
🔸 Technical signals of a trend reversal
In addition to the analyses of The Ripple Effect, several technical indicators support the idea of an imminent trend reversal for XRP. One of these is the Relative Strength Index (RSI), an indicator that measures the speed and change of price movements. Currently, the RSI of XRP is in a neutral zone, suggesting that selling pressure might decrease soon.
