XRP Hits Most Oversold Level in History, Eyes ₱178 ($3)
XRP is trading at $1.35 as analysts Diana and EGRAG CRYPTO identify a potential bottoming phase. The $1.30 to $1.35 support zone could catalyze a rally to ₱178 ($3) if resistance gets reclaimed.
Key Takeaway
XRP's sixth historic oversold reading suggests accumulation phase is starting, not collapsing.
XRP's weekly RSI just entered the most oversold zone in the token's history, according to crypto analyst EGRAG CRYPTO. The last five times this happened — in 2014, 2015, 2018, 2020, and 2022 — XRP eventually formed major lows.
EGRAG CRYPTO said entering this oversold zone doesn't mean the bottom forms immediately. Instead, it signals the market is moving into the bottoming phase, which resembles a final liquidity sweep or sideways accumulation before a gradual recovery begins.
Crypto analyst Diana sees the current price action differently than most traders. She said the monthly chart shows what looks more like a high-timeframe reset following a major rally rather than a market collapse. XRP is trading at $1.35, and Diana said the $1.30 to $1.35 region is acting as a key support zone where price has begun to stabilize.
Diana added that many traders wrongly assume XRP cannot move due to large supply. A considerable portion of the supply remains locked, stored off exchanges, or held by long-term investors who are not eager to sell. That means a surge in demand could push prices higher quickly.
If support holds and resistance gets reclaimed, Diana said XRP could retest ₱178 ($3) initially. Under strong momentum, the token could extend to ₱296 ($5) or even $8.50 as the slingshot setup resolves bullishly, marking the sixth extreme oversold reading in XRP's history.
This article was written based on reporting from NewsBTC.
