Market Analyst Identifies Crucial XRP Targets as RSI Goes Lowest Ever

Market analyst EGRAG Crypto reports that the XRP RSI has hit an all-time low, indicating extreme oversold conditions with a potential rebound target of 80.

XRP’s Relative Strength Index (RSI) has plummeted to an all-time low, signaling a possibly critical juncture for the cryptocurrency. As highlighted by EGRAG Crypto’s recent analysis, this unprecedented dip on the monthly chart points to an imminent shift in market dynamics.

EGRAG Says XRP RSI is at its lowest level in history based on the Monthly Time Frame.

According to EGRAG, this is a drop to an unprecedented low below the monthly level of 38.02, suggesting that XRP is extremely oversold and could be primed for a trend reversal.

Moreover, historical data in the chart shows that this new low surpasses previous dips in 2017, 2020, and 2021, where the RSI similarly dropped before notable recoveries.

Projected Target

Despite the historic low, the RSI is presently exhibiting an upward curvature, suggesting a potential shift in momentum. The chart emphasizes that the RSI’s upward movement is critical.

EGRAG suggests that XRP could see a major price spike after this low, with such a rally leading to a similar rise in the RSI. Though he failed to provide any XRP price targets, he set specific levels, such as 54.00 and 60.00, as short-term targets for the RSI.

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In addition, levels of 70.00 and 79.00 are higher thresholds, indicating more robust bullish activity.

XRP to $1.5

Meanwhile, in a related analysis, EGRAG projected an upward movement for XRP, anticipating that it could reach breakout targets ranging from $1.2 to $1.5. With the current price of XRP hovering around $0.5153, this prediction implies a potential price increase of approximately 182%.

The analyst further emphasized that a rise in the $0.7 to $0.75 range would confirm the path towards the $1.5 target. EGRAG expressed confidence that this breakout could occur within the next few weeks.

However, the expert also noted the possibility of XRP retesting the breakout level, which might result in a temporary dip or encounter further resistance before achieving the anticipated price surge.