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

XRP's price experienced a significant, unsettling drop, prompting bearish sentiment in the crypto market. Cryptoinsightuk, a market analyst, contradicts this view, arguing XRP isn't bearish despite the crash. The analyst highlights the absence of substantial downside liquidity, indicating weak selling pressure. This suggests potential price fluctuations, followed by a possible push upwards by market makers seeking profit. Cryptoinsightuk asserts the weekly chart remains bullish, unaffected by the flash crash, contrasting with concerns focused on the monthly chart. He emphasizes the importance of higher timeframes for accurate trend analysis, citing a strong long-term trend on the three-month chart. A recent oversold signal on the daily RSI hints at potential price recovery, echoing previous patterns. The analyst points to a fractal suggesting a possible upward "measured move" if history repeats itself. This fractal pattern implies a potential future price increase for XRP. Cryptoinsightuk's analysis provides a more optimistic outlook, suggesting a path to recovery. The analyst believes the broader market structure remains bullish despite the short-term dip.