INSIGHT: The two biggest crypto bulls are now sitting on roughly $22.5B in unrealized losses.
Michael Saylor’s $BTC position is down $12.5B, while Tom Lee’s ETH treasury is down more than $10B as Ethereum plunged 25% in 10 days.
#XRP Enters Uncharted Territory as Monthly RSI Hits All-Time Low of 41.7. #Ripple
XRP has crashed 15.37% this month on the back of the most recent market-wide slump.
This decline has dragged the monthly RSI to an extreme low of 41.7, representing its lowest reading in history.
The recent figure beats the previous all-time low of 43.75 recorded in March 2020 when XRP crashed to $0.24.
Such a historically low RSI reading confirms an extreme oversold level for XRP and could lead to a bullish reversal.
XRP still needs to maintain this reading by the end of the month to confirm the signal.
Local range lows on $XRP have been taken.
Would make some sense for a move to range highs assuming we get some relief across the board but I would be very cautious if/when we get that move because XRP/BTC still sits some 30% above my downside target so I don't quite think this will be the ultimate bottom for $XRP just yet, even if we do see a move back to the local range highs.
Ultimately, think $XRP will find it's way to our HTF demand zone in green one way or another, and that is when I would consider it worth buying assuming XRP/BTC has also hit my target zone by that time.
Keep in mind this correction is in the context of correcting our impulsive move that took us from .50 to around $3.60 so while this looks scary its a natural result of such a quick 7x move that now needs to be "digested".
XRP liquidation heatmap is screaming 👀
$2.17B in short liquidations stacked above… and that yellow wall at $1.35 hasn't been touched yet ⚡
next week is going to be very interesting bears and weak hands gonna cry very hard
$XRP Analyst Arthur Sees Liquidity Hunt to $1 Before ‘Real Move’. #Ripple
XRP has broken a long-term downtrend line, a sign that bearish momentum may be fading.
Arthur sees the upcoming Clarity Act discussions as a potential catalyst for XRP’s next move.
The CMC Altcoin Season Index fell 6.52%, signaling capital is rotating out of altcoins and into safer assets.
$XRP Flashes an Oversold Signal It Has Only Seen Once in Its Entire History, Evan Clegg Highlights.
The latest market-wide crash has pushed XRP’s price back to $1.11, leading to a 17% drop this month.
Amid the renewed pressure, the weekly XRP RSI recently collapsed below the 30-mark.
This event has played out only once in XRP’s entire history, making the recent occurrence particularly noteworthy.
When the weekly RSI dropped to similar levels in June 2022, it aligned with XRP’s bottom of $0.28 during that cycle’s bear market.