XRP falls to around $1.08 after a $1 billion liquidation wave.
CryptoDaily reports that XRP is trading near $1.08 after the liquidation shock hit the crypto market. Technically, the RSI has entered oversold territory, but the report says sellers are still driving the trend; $0.99 is identified as a level bulls must hold.
· Being oversold only describes the indicator’s position. The report also says sellers still control the trend, and these two points are not contradictory.
· Trader Alex Carter’s focus is whether $0.99 holds, not when an oversold bounce might happen.
Would you watch the $0.99 level first, or the pace of the RSI’s recovery?
CryptoDaily reports that XRP is trading near $1.08 after the liquidation shock hit the crypto market. Technically, the RSI has entered oversold territory, but the report says sellers are still driving the trend; $0.99 is identified as a level bulls must hold.
· Being oversold only describes the indicator’s position. The report also says sellers still control the trend, and these two points are not contradictory.
· Trader Alex Carter’s focus is whether $0.99 holds, not when an oversold bounce might happen.
Would you watch the $0.99 level first, or the pace of the RSI’s recovery?
