XRP fell 3.7% over the past 24 hours as analysts weighed whether the token may be nearing a local bottom. According to NS3.AI, chart analyst Ali Martinez said the move could mark a potential local bottom, while Cryptoinsightuk said XRP may see at least a relief rally after its four-hour relative strength index reached deeply oversold levels.

Cryptoinsightuk cautioned that oversold conditions do not necessarily confirm a market bottom. A break below the trading range lows remains possible, with $1.22 still viewed as a downside target.