The post Will XRP Price Rebound to $3 or Drop Below $2? appeared on BitcoinEthereumNews.com.

Ripple (XRP) price has surged more than 330% in the last 30 days, surpassing Solana’s market cap and reaching its highest levels in 6 years. However, its RSI is now at 46, a significant drop from the overbought level above 70 that was seen between November 29 and December 3, when XRP peaked around $2.90, its highest level since 2018. This decline suggests that the bullish momentum has cooled, and the market sentiment is now neutral or slightly bearish. As a result, XRP could face a period of consolidation or mild downward pressure before any potential recovery. XRP RSI Is Neutral After Consecutive Days Above 70 XRP RSI is currently at 46, a significant drop from the overbought level above 70 between November 29 and December 3, when its price peaked around $2.9, the highest since 2018. The decline in RSI suggests that the recent bullish momentum has cooled off, and the market may now be in a neutral or slightly bearish phase. XRP RSI. Source: TradingView RSI, or Relative Strength Index, is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with values above 70 typically indicating an overbought condition, while values below 30 suggest oversold conditions. With XRP’s RSI at 46, it indicates that the asset is neither overbought nor oversold, suggesting a neutral market sentiment. If this trend continues, Ripple price may experience a period of consolidation or mild downward pressure before a potential recovery. Ripple CMF Is Now Around 0 XRP’s CMF is currently at -0.01, following a brief positive reading of 0.04 just a few hours ago. The indicator reached a negative peak of -0.25 on December 6, after remaining positive between November 29 and December 5. This shift in the CMF suggests that XRP next…

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Filed under: News - @ December 9, 2024 9:15 pm