📉 $XRP just did something it hasn't done in nearly two years, and the market is split on what it means.
The token closed the weekly candle at $1.09, its weakest weekly finish since November 2024. It's kept sliding since, printing a fresh yearly low near $0.98 before crawling back toward $1.
Zoom out and the drop is brutal. XRP sits roughly 69% below its July 2025 peak of $3.65. It's now the worst-performing top-10 crypto asset year to date, down nearly 44% since January.
Here's what makes this level genuinely interesting instead of just another red candle. XRP's weekly RSI dropped below 30 back in June, only the second oversold reading on the weekly chart in 12 years. The first time that happened was the 2022 bear market bottom near $0.29, right before XRP ran over 1,100%.
The catch: that rally didn't start until nearly two and a half years after the signal fired. Oversold doesn't mean immediate.
Meanwhile, the on-chain story looks nothing like the price chart. Whales added over 380 million XRP in a single week, pushing large-holder balances above 8 billion coins, worth roughly $8.2 billion. Network activity is picking up too, not fading, even as price bleeds.
Three things now decide what's next: whether the $1.00 to $1.06 zone holds as support on a weekly close, whether the Clarity Act gets a Senate floor vote in September, and whether Bitcoin can reclaim key levels to drag the broader market up with it.
Bottom, or just another leg down. The next few weekly closes will tell the story.
#XRP #Ripple #Crypto #Bitcoin #Altcoins $XRP
The token closed the weekly candle at $1.09, its weakest weekly finish since November 2024. It's kept sliding since, printing a fresh yearly low near $0.98 before crawling back toward $1.
Zoom out and the drop is brutal. XRP sits roughly 69% below its July 2025 peak of $3.65. It's now the worst-performing top-10 crypto asset year to date, down nearly 44% since January.
Here's what makes this level genuinely interesting instead of just another red candle. XRP's weekly RSI dropped below 30 back in June, only the second oversold reading on the weekly chart in 12 years. The first time that happened was the 2022 bear market bottom near $0.29, right before XRP ran over 1,100%.
The catch: that rally didn't start until nearly two and a half years after the signal fired. Oversold doesn't mean immediate.
Meanwhile, the on-chain story looks nothing like the price chart. Whales added over 380 million XRP in a single week, pushing large-holder balances above 8 billion coins, worth roughly $8.2 billion. Network activity is picking up too, not fading, even as price bleeds.
Three things now decide what's next: whether the $1.00 to $1.06 zone holds as support on a weekly close, whether the Clarity Act gets a Senate floor vote in September, and whether Bitcoin can reclaim key levels to drag the broader market up with it.
Bottom, or just another leg down. The next few weekly closes will tell the story.
#XRP #Ripple #Crypto #Bitcoin #Altcoins $XRP