XRP is currently oversold on 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 that the broader market has been waiting for, suggesting that a potential rebound may be on the horizon. He based his view on historical patterns, noting that the last time XRP reached similar oversold conditions, the cryptocurrency experienced soaring to fresh highs.

XRP oversold levels signal explosive triple-digit rally

In X’s post from June 6, Dark Defender excellent This XRP Relative Strength Index (RSI) is showing extreme downward pressure, much like cryptocurrency has fallen into deep oversold territory in multiple chart views. According to the analyst, the last time XRP fully confirmed this textbook oversold structure was when it reached a price of around $0.56 in 2024. The cryptocurrency’s price then exploded to $3.66, an augment of over 550%.

Dark Defender highlighted that XRP is currently trading above $1.10 and has reached the same oversold level. The analyst believes that if historical trends play out as expected, XRP could experience a similar price surge.

In particular, Dark Defender predicts double- or triple-digit growth for XRP. He noted that this price reversal is closer than investors think, emphasizing his confidence in XRP’s ability to recover from the crisis continuing downward trend.

While historical trends can provide insight into how a cryptocurrency may move, they do not automatically guarantee its price direction. In 2024, not only did XRP immediately hit $3.60; also confirmed a bottom around $0.50 before reaching this target. Following the analyst’s logic, this could mean that XRP has confirmed its low price level for this cycle, setting the stage for a renewed bull trend.

If this is true, this will be the official end XRP bear trendwhich has been going on since the beginning of the year. Notably, CoinMarketCap data shows that XRP is down over 12% over the past two weeks and over 18% over the past month. The decline in prices was caused by, among others, huge sales pressuredelicate structure and lack of bullish factors. Despite penniless performanceanalysts like Dark Defender continue to maintain a robust, confident stance on XRP’s long-term prospects.

The analyst says XRP’s breakout level remains unchanged

A similar bullish forecast is shared by cryptocurrency analyst Javon Marks decided that the goal of breaking XRP has not changed despite recent price drops and penniless momentum. Marks forecast a potential upside towards $15-18, suggesting this XRP’s fundamental bullish fundamentals they are still intact.

He expects XRP to rebound sharply from bearish trends after breaking above the upper limit of the triangle pattern marked in the accompanying chart. If this happens, it could lead to a price augment of around 1,100%.

Featured image from Adobe Stock, chart from Tradingview.com