XRP Hits Most Oversold Levels Ever: Can Buyers Hold at Critical Support
XRP has reached its most oversold levels on record after a prolonged downturn from its peak. The token's monthly Relative Strength Index (RSI) is now lower than during the 2020 COVID market crash, indicating intense selling pressure or waning momentum. According to Ash Crypto, XRP's current price structure is similar to previous cycle lows, with the token trading 72% below its all-time high and slipping to a two-year low near $1.
The monthly RSI of 43.5 is lower than in 2018 when XRP dropped to roughly $0.10 after a significant decline, and in 2021 when it fell to about $0.28 following another downturn. The current market structure places $1 as a critical support area for XRP.
Technical traders are closely monitoring this development, with analysts suggesting that maintaining the $1 mark could signal stability and the formation of a new price base. If buyers continue to defend the $1 threshold, it may indicate a potential trend reversal or gradual recovery in XRP's price.