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$XRP is now oversold across all major time frames, signaling weakening momentum as its price continues to test key support levels. Crypto analyst Dark Defender revealed that this could be the bullish signal the broader market has been waiting for, suggesting a potential rebound may be on the horizon. He based his outlook on historical patterns, noting that the last time $XRP reached similar oversold conditions, the cryptocurrency experienced a sharp rally to new highs.
$XRP Oversold Levels Signal Explosive Triple-Digit Rally
In an X post on June 6, Dark Defender noted that $XRP’s Relative Strength Index (RSI) is showing extreme downward pressure, as the cryptocurrency has fallen into deep oversold territory across multiple chart views. According to the analyst, the last time $XRP fully confirmed this textbook oversold structure was when it traded around $0.56 in 2024. After which, the cryptocurrency’s price exploded to $3.66, representing a more than 550% gain.
Dark Defender highlighted that $XRP is currently trading above $1.10 and has reached the same oversold levels. If historical trends play out as expected, the analyst believes that $XRP could experience a similar price surge.
Specifically, Dark Defender is projecting a double or triple-digit rally for $XRP. He noted that this price reversal is closer than investors think, highlighting his confidence in $XRP’s ability to break out of its ongoing downtrend.
Source: Chart from Dark Defender on X
While historical trends can provide insight into how a cryptocurrency could move, they do not automatically guarantee its price direction. In 2024, $XRP did not just run straight to $3.6; it also confirmed a bottom around $0.5 before reaching that target. Following the analyst’s logic, it could mean that $XRP has confirmed its price floor for this cycle, setting the stage for a renewed bull trend.
If this is true, it would officially end $XRP’s bear market trend, which has been ongoing since the beginning of the year. Notably, CoinMarketCap data show that $XRP has fallen more than 12% over the past two weeks and more than 18% over the last month. These price declines have been fueled by massive selling pressure, weak structure, and a lack of bullish drivers. Despite its poor performance, analysts like Dark Defender still maintain strong bullish stances on $XRP’s long-term outlook.
Analyst Says $XRP Breakout Level Remains Unchanged
Sharing a similar bullish projection, crypto analyst Javon Marks has declared that $XRP’s breakout target has not changed despite recent price declines and weak momentum. Marks projected a potential rally toward $15-$18, suggesting that $XRP’s underlying bullish fundamentals are still intact.
He expects $XRP to recover sharply from bearish trends after it breaks above the upper boundary of the triangle pattern highlighted on the accompanying chart. If this happens, it could lead to a price surge of roughly 1,100%.
$XRP trading at $1.16 on the 1D chart | Source: XRPUSDT on Tradingview.com
