XRP Weekly RSI Hits Bottom as Analyst Sees Strong Reversal Ahead
Crypto analyst Dark Defender claims XRP's weekly Relative Strength Index (RSI) has hit a bottom. The analyst posted a chart on X mapping out an Elliott Wave structure, stating the current price action completes a corrective sub-wave inside a larger five-wave pattern.
The chart plots XRP against the US Dollar on a weekly timeframe and labels a five-wave sequence starting near $0.43. It tracks a secondary correction inside wave 5, broken into its own five sub-waves. This sub-wave count now sits at point 5, right where the RSI indicator also bottoms out near 32.60.
The analyst frames the $1.05 area as a structural floor. If price holds there, the chart suggests the next leg up completes the larger five-wave pattern that started years ago. Targets on the chart range from $2.90 at the 200% extension up to $38.30 at 427.20%, with wave (5) projected near the top of that range by 2027.
The RSI bottom is the technical anchor for Dark Defender's thesis. When RSI drops into oversold territory on a weekly chart and starts turning up, traders often read that as exhaustion in the selling pressure. The alignment of price structure and momentum bottoming together is central to the analyst's case.