.png?#)
XRP is flashing an imminent crash signal; Drop to $2 next?
The post XRP is flashing an imminent crash signal; Drop to $2 next? appeared on BitcoinEthereumNews.com. XRP’s short-term surge above $3 is showing signs of potential exhaustion, with the Relative Strength Index (RSI) flashing overbought warnings. On the monthly chart, the RSI reading of 71.47 has entered the overbought zone, a level often associated with upcoming corrections or consolidation. At the same time, the momentum indicator’s short-term metric is also flashing caution. Specifically, on the four-hour chart, RSI sits at 74.26, firmly in overbought territory, while the daily RSI at 62.97 signals cooling momentum but still reflects elevated buying pressure. XRP one-month RSI chart. Source: TradingView Historically, whenever XRP’s RSI has crossed above 70 on higher timeframes, the token has faced notable pullbacks as profit-taking accelerates. With the price already struggling to hold above $3, traders are now eyeing to sustain the psychological level as a crucial support. A decisive break below could open the door to deeper retracements toward the $2.70 zone. Although momentum indicators are suggesting caution, XRP continues to experience bullish sentiment in line with the broader cryptocurrency market. Investors are betting on a September rate cut, which is fueling capital inflows into digital assets. XRP’s next move As for XRP’s next move, analyst Ali Martinez noted that after breaching resistance at $3.05, the token is now poised for higher levels. His outlook highlights that the breakout marks a decisive move above a descending trendline that had capped gains for weeks, signaling renewed strength in XRP’s structure. XRP price analysis chart. Source: TradingView Technical projections point toward $3.30 as the next major hurdle, followed by an extended rally toward $3.60, which aligns with the 0.382 Fibonacci retracement level. On the other hand, failure to hold above $3.05, however, could see XRP revisit support near $2.90. Still, sentiment remains tilted in favor of the bulls as long as the breakout holds. At press time,…
The post XRP is flashing an imminent crash signal; Drop to $2 next? appeared on BitcoinEthereumNews.com.
XRP’s short-term surge above $3 is showing signs of potential exhaustion, with the Relative Strength Index (RSI) flashing overbought warnings. On the monthly chart, the RSI reading of 71.47 has entered the overbought zone, a level often associated with upcoming corrections or consolidation. At the same time, the momentum indicator’s short-term metric is also flashing caution. Specifically, on the four-hour chart, RSI sits at 74.26, firmly in overbought territory, while the daily RSI at 62.97 signals cooling momentum but still reflects elevated buying pressure. XRP one-month RSI chart. Source: TradingView Historically, whenever XRP’s RSI has crossed above 70 on higher timeframes, the token has faced notable pullbacks as profit-taking accelerates. With the price already struggling to hold above $3, traders are now eyeing to sustain the psychological level as a crucial support. A decisive break below could open the door to deeper retracements toward the $2.70 zone. Although momentum indicators are suggesting caution, XRP continues to experience bullish sentiment in line with the broader cryptocurrency market. Investors are betting on a September rate cut, which is fueling capital inflows into digital assets. XRP’s next move As for XRP’s next move, analyst Ali Martinez noted that after breaching resistance at $3.05, the token is now poised for higher levels. His outlook highlights that the breakout marks a decisive move above a descending trendline that had capped gains for weeks, signaling renewed strength in XRP’s structure. XRP price analysis chart. Source: TradingView Technical projections point toward $3.30 as the next major hurdle, followed by an extended rally toward $3.60, which aligns with the 0.382 Fibonacci retracement level. On the other hand, failure to hold above $3.05, however, could see XRP revisit support near $2.90. Still, sentiment remains tilted in favor of the bulls as long as the breakout holds. At press time,…
What's Your Reaction?
