XRP Price Plunges to 13-Year Low as Rising Support Structure is Put to the Test

XRP's two-week Relative Strength Index (RSI) has hit a 13-year low, according to analyst Cryptollica. This means that XRP is now trading at an extreme level of oversold territory.

The RSI reading is currently at around 33.5, which is the lowest reading in roughly 13 years of XRP trading history. Historically, readings below this level have been seen during earlier sell-offs in 2018, 2020, and 2022.

XRP has also returned close to a long-term rising support structure that has held across several market cycles. This line represents a series of higher lows across several years, and breaking it would be a negative sign for XRP's price action.