Eseandre Mordi
⬤ XRP just hit oversold levels on the weekly Stochastic RSI, showing momentum's taken a hit. The indicator's dropped near its lowest reading, matching up with the pullback we're seeing on the chart. After some wild volatility and strong moves earlier, XRP's now trading lower in the weekly timeframe.
⬤ Here's where it gets interesting: past oversold conditions like this have triggered massive rallies. We're talking 200%+ gains in some cases. Right now, there's no confirmed reversal yet, but the Stoch RSI sitting close to zero is a level that's lined up with cyclical bottoms before. The price action shows XRP's still soft, testing the lower end of its recent range.
⬤ The momentum's clearly contracting, putting XRP at a spot that's often marked inflection points. While we can't predict what's next, the combination of oversold readings and historical bounces from similar setups makes this worth watching. It's the kind of phase where sentiment resets can shape the medium-term direction.
⬤ Oversold conditions often show up at important moments in market cycles. XRP's current weekly chart position gives traders a key reference point as they watch whether momentum finds a floor or the pullback keeps going.
Eseandre Mordi
