$XRP whales rack up more tokens despite price fall: Recovery ahead? - AMBCrypto Analytics

AMBCrypto analyzed XRP’s potential from a technical perspective. According to the daily chart, the Relative Strength Index (RSI) was 23.96. The RSI measures momentum using the magnitude of price changes.

When the reading is above 70, it means an asset is overbought. However, when it is below, it indicates an oversold condition.

Therefore, XRP was oversold, indicating that the price could be on the brink of a rebound. To check the possible targets, AMBCrypto looked at the Fibonacci retracement indicator, which spots potential support and resistance levels.

From the chart above, if XRP bounces off the lows, the price could key into the 23.6% Fib level, which positioned at $0.45.

However, this prediction could be invalidated if selling pressure increase and whales also join in.