Bulls and bears are already arguing over this level. $XRP is trading at 1.10, down 5.41% in 24 hours. RSI is only 24.1, and the 14-day low of 1.09 is just a hair away.
The drop has been sharp and relentless. The short-term chart does look a little oversold, but oversold doesn’t mean the decline is over. If 1.09 doesn’t hold, there’s not much support below, and a break could mean a new low. If it does hold, at least it shows that there are still buyers willing to step in at this level.
For now, I’d rather wait and see. An oversold RSI only tells us the price has fallen quickly; it doesn’t tell us the decline is over. But if it climbs back above 1.17, I’ll have to change my mind—that would suggest the bears are starting to lose steam.
With RSI at 24.1, would you wait for confirmation, or start a small XRP position?
$XRP
#XRP #Market analysis
The drop has been sharp and relentless. The short-term chart does look a little oversold, but oversold doesn’t mean the decline is over. If 1.09 doesn’t hold, there’s not much support below, and a break could mean a new low. If it does hold, at least it shows that there are still buyers willing to step in at this level.
For now, I’d rather wait and see. An oversold RSI only tells us the price has fallen quickly; it doesn’t tell us the decline is over. But if it climbs back above 1.17, I’ll have to change my mind—that would suggest the bears are starting to lose steam.
With RSI at 24.1, would you wait for confirmation, or start a small XRP position?
$XRP
#XRP #Market analysis