XRP’s Weighted Relative Strength Index (RSI) has been giving signals for significant price movements lately. Analysts identify the 74, 70, and 65 levels as critical RSI thresholds to understand XRP’s short-term price trends. These levels can determine the future direction of the XRP price.
RSI Levels May Affect XRP Price
According to Egrag Crypto, XRP price may show significant momentum changes based on RSI levels. Currently, the RSI is around 74, indicating strong bullish potential. A rebound from this level could push XRP’s RSI to 88 or higher.
“The RSI rebound from the 74 level could indicate a sustainable bullish momentum for XRP,” says Egrag Crypto. However, if the RSI drops to the 70 level, it may indicate the beginning of a bear trend. A jump at this level may maintain the current bull trend.
Technical Analysis and Potential Targets
Ali Martinez observed that the Bollinger Bands are narrowing on the daily chart of XRP. This contraction usually marks a period of low volatility, after which a significant price boom can be expected. Analysts also emphasize that the $2.12 level is a critical resistance point for XRP. A close above this level could see XRP continue its uptrend on a daily basis. On the other hand, a decline below the $2 support could start a bear trend. In this case, XRP may decline to $1.22.
In the last week, XRP experienced a decline of 4.88% and fell to $2.00. However, analysts expect XRP to rise to $4 if the $2.60, 2.65 and $2.75 resistances are overcome. XRP investors can develop strategies according to price movements by monitoring these critical levels.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
