XRP News Today: XRP's RSI Hits 80 Once More: Approaching End of Bull Run or Bearish Reversal Ahead?
- XRP's monthly RSI hit 80 for the second time, signaling potential late-bull phase rather than imminent crash, per Egrag Crypto's analysis. - Grayscale's upcoming XRP ETF and $7.19B 24-hour inflow boosted market cap to $122.49B, with ETFs projected to absorb 500M XRP daily. - Exchange balances dropped 430M tokens in eight days, creating liquidity squeeze as price rebounds from $1.96 support toward $2.60 target. - Analysts note RSI above 50 threshold suggests prolonged distribution phase, with 60% probabil
XRP's latest price movements and technical signals have reignited investor confidence, as the token's monthly Relative Strength Index (RSI) has climbed to the 80 mark for only the second time ever—this instance pointing to a possible late-stage bull run rather than an impending downturn. Analyst Egrag Crypto, who has been monitoring XRP's trends, observed that although the RSI's high level is reminiscent of the 2017 market top,
The current RSI reading is consistent with wider on-chain and market trends.
The
Technical experts also point to XRP's monthly RSI as a crucial indicator. Unlike short-term metrics, the monthly RSI changes over years, and extreme values have historically come before major market peaks. In 2017, a similar RSI spike matched a bear market that only became clear after the indicator dropped below 50. Currently,
At the same time, the ETF sector continues to influence XRP's path.
Currently, XRP finds itself at a critical juncture. Trading at $2.19, the token is below major moving averages but remains above important support, with RSI readings pointing to a possible recovery rather than a downturn. As the market awaits the ETF's effects and the RSI's next signal, investors should keep an eye on both technical indicators and on-chain liquidity changes. A fall below $1.90 could mark a bearish shift, but for now, the data suggests a cautiously optimistic outlook.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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