Crypto
XRP RSI Hits 13-Year Low, Sparks Debate Over Cycle Bottom
XRP's Relative Strength Index (RSI) has dropped to its lowest level in 13 years, sparking debate over whether the token has finally found its cycle bottom.
The two-week RSI reading of 33.5 is lower than the lows seen during the 2018 bear market, the 2020 COVID crash, and the 2022 crypto winter, according to analyst Cryptollica.
XRP still sits inside a long-term rising channel that has guided the asset through multiple cycles, with its price near the structure's lower boundary.
Not everyone agrees that XRP has bottomed out, however. Technical analyst ChartNerd notes that the token remains compressed between the 20-week EMA near $1.29 and the 50-week EMA resistance around $1.52.