XRP Overbought as Bears Take Upper Hand in Crypto Market
XRP has been trading at around $1.49 after reaching a high of about $1.70, a significant increase from its current short-term technical structure.
Despite this move, XRP is now extremely overbought with a daily RSI of around 86 and a lengthy upper wick indicating that sellers have already reacted forcefully at higher prices.
The immediate problem for XRP lies in the $1.50-$1.55 area, which could open up a route toward $1.60 and ultimately its intraday peak of $1.70 if it closes above this range.
However, if XRP is able to hold above $1.35, it would indicate significant structural improvement rather than just a brief spike in volatility.
In other markets, Shiba Inu has attempted to build a recovery structure after months of downward pressure but is still far from achieving a complete trend reversal.
Hyperliquid (HYPE) has continued its breakout and is trading at around $80, firmly above its prior June-July peaks around $75-$77, giving the token a new local high.
Bitcoin has also experienced a significant technical breakout, rising from $63,000 to $65,000 to roughly $77,000 in a few daily sessions and crossing its long-term moving average at around $71,689.