Ripple (XRP)’s Relative Strength Index (RSI) on the monthly timeframe offers clues to understand price movements. Analysts have also identified levels of 74, 70, and 65 as critical thresholds for the future of the Ripple token. These levels are among the key indicators that investors should closely monitor in the near term.
Key Points to Watch in XRP’s RSI Levels
Crypto analyst Egrag Crypto has suggested that the XRP price could experience significant momentum changes depending on the RSI levels. Also, currently the monthly RSI indicator is at 78.29, indicating strong bullish momentum for XRP. However, the analyst said the following on the matter:
If the RSI bounces off this level, it could reach 88 or higher, which would imply continued bullish momentum.
However, a drop in RSI to 70 would indicate a weakening uptrend . A rebound from this level is critical to maintaining the ongoing bull run. Analysts are noting that this level could be a possible turning point for the XRP price.
RSI Level 65: Critical Line of Defense for XRP Price
Egrag Crypto also emphasized that the RSI level of 65 is a decisive point for Ripple’s price. If the RSI falls to this area, it will give bear market signals . However, as long as there is no closing below this level, the possibility of recovery continues. The analyst explained his views with the following words:
If the RSI closes below 65, it could signal the end of the current bull cycle and further declines are possible.
He stated that this level is the last line of defense in maintaining the upward momentum for the XRP price.
Technical Analysis and Current Status of XRP
In technical analysis, analyst Ali Martinez observed that the Bollinger Bands are compressed on the daily chart of XRP. This usually indicates a period of low volatility and indicates that a major price breakout or drop is imminent. Egrag Crypto, on the other hand, noted that the $2.12 level is a critical resistance for XRP. However, he continued his words as follows:
The 0.236 level in the Fibonacci channel is a key threshold for XRP to close above, and if this level is breached, the price could rally to $2.75.
However, the $1.67 level stands out as a strong support point in XRP’s current consolidation process.
Positive and Negative Scenarios for XRP
Experts predict that if XRP breaks the resistance levels of $2.60, $2.65, and $2.75, the price could rise to $4. However, if it falls below the $2 support level, there is a risk of the price falling to $1.22.
These scenarios suggest that XRP’s near-term performance will largely depend on technical levels. However, as we at Kriptokoin.com reported, it is important for investors who want to invest to be aware of the risks by doing their own analysis.
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