Ripple (XRP) price has been under significant pressure following a series of bearish technical signals and legal developments. After the SEC filed an appeal against Ripple, XRP experienced a sharp decline.

Despite this, the RSI has moved from deeply oversold levels. That indicates that the selling pressure may be easing, though the overall trend remains bearish.

XRP RSI Is Currently Neutral

XRP’s RSI is currently sitting at 41.60, a notable jump from its deeply oversold level of 19.79 on October 3. This increase signals that the intense selling pressure seen earlier in the month has eased, and some buyers have stepped in.

However, the upward shift in RSI doesn’t necessarily point at reversal of the downtrend. It suggests that the asset has moved out of extremely oversold territory and is experiencing a potential relief rally.

The Relative Strength Index (RSI) is a momentum oscillator used in technical analysis to measure the speed and magnitude of recent price changes. It ranges from 0 to 100, with key thresholds at 30 and 70. When the RSI falls below 30, it indicates that the asset is oversold and may be due for a rebound. On the other hand, an RSI above 70 means the asset is overbought.

Read More: Ripple (XRP) Price Prediction 2024/2025/2030

An RSI of 41.60 means that XRP, while still in a downtrend, is seeing some stabilization as the market has cooled off from extreme selling. This level indicates that the bearish momentum is weakening.

However, it seems the buyers haven’t gained enough strength to reverse the trend fully. In the context of XRP’s ongoing downtrend, an RSI around 40 suggests that while the asset isn’t in oversold territory anymore, it is still under selling pressure.

Traders typically view RSI levels in this range as neutral or slightly bearish, meaning there may Go to Source to See Full Article
Author: Tiago Amaral