Crypto
XRP Enters Extreme Oversold Territory as Analyst Sees Buying Opportunity
XRP's price has been on a rollercoaster ride over the past few weeks. After reaching $1.70 at the end of August, the asset experienced a significant pullback due to the failure of the CLARITY Act.
The price dropped to around $1.26 but has since regained some ground and is currently trading at $1.30. Despite this, XRP's two-week RSI ratio has dropped to 33.5, its lowest point in history, according to Cryptollica.
This extreme oversold territory could be a bullish sign for the asset, indicating that it may be primed for a strong recovery. Additionally, spot XRP ETFs have seen significant investment, with cumulative total net inflows surpassing $1.7 billion last week.