The post XRP Drops by 10% Again as the Altcoin Struggles to Hold Gains appeared on BitcoinEthereumNews.com.

XRP surged 30% yesterday after being included in the US crypto reserve. This pushed its price above $2.90 for the first time in a month. This massive rally ignited strong bullish momentum, but the altcoin slumped 10% a day later. XRP is seeing notable correction today, suggesting that profit-taking is underway. Whether the price can regain bullish momentum or continue its retracement will depend on key resistance and support levels, with traders closely watching $2.75 on the upside and $2.52 on the downside. XRP RSI Is Neutral After Reaching Overbought Levels XRP saw a significant surge in momentum after being included in the US crypto reserve. Its price rallied 30%, pushing its Relative Strength Index (RSI) to a peak of 84.5. The RSI, a widely used momentum oscillator, measures the speed and change of price movements on a scale of 0 to 100. Readings above 70 indicate that an asset is overbought and could be due for a pullback. Readings below 30 suggest oversold conditions and a potential buying opportunity. XRP’s RSI reached 84.5 – its highest level since December 2, 2024 – signaling extreme bullish sentiment, often preceding a short-term correction. XRP RSI. Source: TradingView. Now sitting at 63, XRP’s RSI has cooled off from its overbought zone, reflecting the recent retracement in price. While a reading above 60 still suggests bullish momentum, the decline from extreme levels could indicate that buying pressure is waning. If RSI continues to decline toward the neutral 50 zone, XRP could see further consolidation or even a deeper pullback. However, if buyers step in again and push RSI back above 70, it could signal renewed strength and another potential attempt at higher price levels. Ichimoku Cloud Shows the Bullish Setup Is Still Here, But This Could Change XRP Ichimoku Cloud chart analysis shows…

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Filed under: News - @ March 3, 2025 5:19 pm