XRP's RSI Plunges to 13-Year Low, Setting Stage for Critical Test
XRP's two-week Relative Strength Index (RSI) has hit a 13-year low, plummeting to around 33.5. This extreme oversold reading is a rare occurrence in XRP's trading history and has sparked mixed reactions among analysts.
Cryptollica, an independent on-chain analyst, highlighted that the current two-week RSI reading is lower than those recorded during previous market downturns, including the 2018 bear market, the March 2020 pandemic crash, and the 2022 crypto downturn. The token's price has been volatile in recent sessions, climbing around 6% on September 14 to reach $1.49 before tumbling nearly 10% to an intraday low near $1.27.
XRP is currently trading at around $1.30, with a market capitalization of approximately $81.6 billion. Despite the sharp selloff, the token has managed to stay above the lower boundary of a long-standing ascending channel that has supported XRP through several market cycles. This combination of historically weak momentum and intact technical structure has left analysts divided on whether the setup signals seller exhaustion or a precursor to further declines.