RSI levels can play a significant role in influencing the XRP price. $2.12 has been identified as the critical resistance point, while a drop below $2 could trigger the start of a bear market.
XRP’s Weighted Relative Strength Index (RSI) has been giving signals indicating significant price movements recently. Analysts consider the 74, 70, and 65 levels as critical RSI thresholds to understand XRP’s short-term price trends. These levels can determine the direction of XRP’s price movements.
According to Egrag Crypto, the price of XRP could see significant momentum shifts based on changes in RSI levels. The RSI is currently around 74, indicating strong bullish potential. A bounce at this level could push XRP’s RSI to 88 or higher. “The RSI bounce from 74 could be an indication of sustained bullish momentum for XRP,” Egrag Crypto says. However, if the RSI drops to 70, it could indicate the start of a bearish trend. A bounce at this level could continue the current bullish trend.
Technical Analysis and Potential Targets
Ali Martinez observed that the Bollinger Bands on the daily chart of XRP are tightening. This tightening usually indicates low volatility and a significant price movement can be expected afterwards. Analysts state that the $2.12 level is a critical resistance point for XRP. A close above this level could see XRP continue its daily uptrend. On the other hand, a drop below the $2 support could signal the beginning of a bear market. In this case, XRP could fall to $1.22.
In the last week, XRP lost 4.88% of its value and fell to $2.00. However, analysts predict that if the resistance levels of $2.60, $2.65 and $2.75 are overcome, XRP could rise to $4. XRP investors can determine their strategy according to price movements by following these critical levels.
