XRP Drops 5% in 24 Hours, Attempts Rebound Amid Oversold Levels
2min read XRP, the cryptocurrency, has experienced a significant decline of over 5% in the past 24 hours. However, it is currently attempting a rebound, aiming to push above the $2 level. This recovery effort comes after the token hit deeply oversold levels on the Relative Strength Index (RSI) earlier in the day. The shift in macro headlines has contributed to early signs of recovery for XRP.
Despite a bearish setup on the Ichimoku Cloud, a short-term bounce is still possible if momentum builds. However, strong resistance zones remain overhead, and whether XRP can sustain this rebound will depend on both technical breakouts and broader market sentiment.
XRP’s RSI is currently at 44.24, showing a rebound after briefly plunging to 17.80 earlier in the day—its lowest level in weeks. The price of XRP has also rebounded following news about a potential 90-day pause in tariffs for all countries except China. Just a day ago, the RSI was at 46.97, reflecting a sharp decline. The RSI, which ranges from 0 to 100, is typically used to identify whether an asset is overbought (above 70) or oversold (below 30).
An RSI reading of 44.24 places XRP in neutral territory, suggesting that selling pressure may be easing, but momentum remains weak. Importantly, XRP hasn’t crossed into overbought territory for nearly three weeks, signaling a lack of sustained bullish momentum. If the RSI continues to climb and breaks above 50, it could indicate growing strength and potential price recovery. However, if it stalls or turns lower, XRP may continue to struggle for direction in the short term.
Ask Aime: Could XRP rebound over $2?
The Ichimoku Cloud chart for XRP shows a bearish structure. The price is trading well below the Kumo (cloud), indicating strong downward momentum. Both the Tenkan-sen (blue line) and Kijun-sen (red line) are sloping down and currently positioned above the price, acting as dynamic resistance levels. The cloud ahead is red and wide, suggesting continued bearish pressure and little immediate sign of a trend reversal. However, the recent bullish candle pushing toward the Tenkan-sen hints at a possible short-term bounce or relief rally. For a true trend shift, XRP would need to break above both the Tenkan-sen and Kijun-sen and eventually enter or surpass the cloud—a scenario that remains distant given the current formation. Overall, the Ichimoku setup reinforces the broader weakness, with any upside likely facing strong resistance from the cloud and key lines.
XRP price recently broke below the $1.80 mark for the first time since November 2024, reflecting heavy market pressure and a sharp sell-off. However, the asset has shown signs of recovery in the past few hours, attempting to regain momentum. If this rebound gains strength, XRP could push toward resistance at $2.02, and a successful breakout may open the path to higher levels around $2.23. On the flip side, if XRP fails to sustain its current recovery, the price could drop back below $1.80 and revisit support near $1.61. A breakdown from that level would increase bearish pressure, potentially dragging the price down toward the $1.50 zone.
