XRP has experienced a significant downturn, plummeting nearly 35% from its mid-January peak of $3.40. However, analysts like Dark Defender posit that this downtrend may soon come to an end. In his latest analysis, he indicates that XRP is closing in on forming an ABC correction pattern on the daily chart. Supporting this outlook, the Relative Strength Index (RSI) indicates that XRP is nearing oversold conditions. If market conditions shift positively, a rebound towards $8 could be on the horizon for XRP, signaling potential investment opportunities for crypto enthusiasts.