XRP trades near $1.38, extending a prolonged correction following its 2024 rally above $3.30. Weekly momentum indicators show the asset has entered one of the most oversold conditions in its history, a level historically associated with major market bottoms. Analysts are watching the $1.12 and $0.50–$0.60 zones as critical long-term support levels.
XRP has entered a prolonged correction after a powerful rally in late 2024. The asset surged sharply after breaking out of a consolidation range between $0.45 and $0.60, eventually reaching the $3.30–$3.50 region.
The market began showing signs of a distribution phase as the price made lower highs with each successive rally. According to TradingView market data, XRP is now trading around $1.38, below key weekly averages.
Its 200-week average, currently around $1.12, is providing support amid broader market declines. An important historical demand zone exists between $0.50 and $0.60, which was the base before the 2024 breakout.
Market analyst EGRAG CRYPTO highlighted that XRP’s weekly Relative Strength Index has entered a deeply oversold zone. “Every time this oscillator dipped into the red zone from 7 up until 13 on the chart, a major bottom was made in the market,” the analyst stated.
Historical charts show similar oversold RSI levels occurred at major market lows in 2014, 2015, 2018, 2020, and 2022. The latest reading indicates a potential late-stage capitulation in the market.
