XRP Price Plummets, Analyst Warns of Short-Term Flush Before Potential Rally

XRP experienced a sharp reversal of -7.78% from its intraday high of $1.63, with RSI reading at 85 and MACD momentum dead in the water.

This technical reality check indicates that XRP is overbought and has structurally overextended itself on a daily timeframe, with every moving average sitting below current price.

The only positive aspect of the setup is the broader trend being unambiguously bullish, making this a healthy reset within an uptrend.

The derivatives picture shows open interest ticking down -0.25% and a taker buy/sell ratio of 0.9166 indicating sell-side aggression winning in real-time order flow.