The Relative Strength Index (RSI) XRP has just reached 0.0 for the second time in history

Skipper cryptoanalyst Drawing attention to an important development for XRP, even as it continues to trade below the psychological level of $2. Based on this development, selling pressure for the altcoin could ease, while ETFs continue to contribute to buying pressure while maintaining the inflow line.

The analyst reveals that the relative strength index (RSI) of the XRP index has reached 0.0

in Share XSkipper revealed that XRP’s stochastic RSI has reached 0.0 for only the second time ever. This came as he noted that the altcoin had gone through a difficult phase, falling 35% this quarter, and 10% this year, recording its first annual loss since 2022. The analyst added that XRP is also below Key level $2.

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However, Skipper suggested that analyst Steve’s discovery about him Relative Strength Index (RSI) for XRP Reaching 0.0 on the 3-week chart provides some optimism. He noted that this had only happened once before, and that was in 2020, right before the altcoin bottomed at $0.28 during the Terra LUNA crash.

Skipper also pointed out Steve’s statement that this could mean that the selling pressure is almost over for XRP, although a quick bounce may not happen. The altcoin remained remarkably flat for several months in 2022 before recovering. The analyst also stated that the decline in the RSI indicates the RSI Lows of the cyclenot short-term trades.

While the selling pressure appears to be subsiding, XRP is still seeing significant buying pressure from XRP ETFs, representing positivity for the altcoin. SoSo Value Data It appears that these funds have recorded daily net inflows since their launch. As a result, they have net assets of $1.25 billion, which is roughly 1% of the market capitalization of XRP.

The XRP super cycle will happen next year

YoungHoon Kim, who has the highest IQ in the world, said in an interview Share X That the XRP super cycle will happen next year. Kim had predicted earlier That the altcoin could reach $10 or higher next year would be new All-time highs (ATHs). This appears to be based on his belief that “all cryptocurrencies will eventually be connected to XRP.”

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Meanwhile, cryptoanalyst This was stated by Crypto King This patience is key as XRP looks to reclaim key levels. The price is holding above the critical support level of $1.85, and a strong bounce and recovery of $1.98 would indicate a shift in momentum, the analyst noted. He added that if this price level is breached, the first upside target is the first resistance level at $2.58. At the same time, there is also room for Alternative currencies for the pool It reached $3.66 after that.

At the time of writing, the price of XRP is trading at around $1.86, down over the past 24 hours, according to Data From Coin Market Cap.

Featured image from iStock, chart from Tradingview.com