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, , Cryptoinsightuk, disagrees. The analyst explains that XRP is not bearish right now, even after the 50% flash crash, and the price can still move higher

Low 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 level. It does not mean will stay still, although it may move up and down for now. At some point, exchanges and market makers may push the price higher into deeper liquidity, where they can make money.

The analyst says that the flash crash does not damage the weekly chart. The weekly picture still shows a normal trend even after the sharp fall. He 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 The 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 crash.

The analyst’s comment about market makers also gives hope to traders who worry that . When market makers see better opportunities at higher price levels, the price often moves up to where they want to make profits. It gives XRP a path to recovery later, rather than staying low. He keeps pointing to the weekly chart because it shows that XRP still holds even after the fear caused by the flash crash.

Higher 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 months. In his view, the three-month chart looks good and

He also looks at the daily RSI, and it recently hit an oversold area. When this happened the last time, the XRP price later saw a strong move up. The analyst shared a fractal a few weeks ago that shows what a new “measured move” could look like if this . 

The fractal suggests the XRP price could rise again from here. The oversold RSI signal suggests that buyers could return and in the future.