XRP Revisits Rare Oversold Levels as Traders Debate Whether the Bottom Is In

XRP is approaching one of its rarest technical milestones, with its weekly Relative Strength Index (RSI) falling into deeply oversold territory for only the second time in the cryptocurrency's history. The setup has sparked renewed debate over whether the token is nearing a cycle bottom after weeks of heavy selling.

The token was trading near $1.07 at the time of writing, extending its weekly losses to around 10% as the broader crypto market remained under pressure.

Weekly RSI Mirrors the 2022 Market Bottom#

According to market analyst Cryptoinsightuk, XRP's weekly RSI has dropped to the same extreme level last seen during the 2022 bear market, when the asset eventually formed a long-term bottom near $0.29 before staging a strong recovery.

The RSI measures the speed and magnitude of price movements, with readings below 30 generally indicating that an asset may be oversold. While such conditions often attract bargain hunters, they do not guarantee an immediate rebound.

Analysts Urge Patience#

Despite the bullish historical comparison, analysts warn that market conditions have changed significantly since 2022. Macroeconomic uncertainty, weaker liquidity, and investor sentiment could delay any sustained recovery.

Some traders are also watching the $1.00 level as key support. A break below it could trigger another wave of selling, while a move back above $1.18 would offer the first technical sign that buyers are regaining control.

What Comes Next for XRP?#

For now, XRP's historic RSI reading is drawing attention because of how rarely it has appeared. However, analysts say traders should look for improving momentum, stronger buying volume, and a confirmed trend reversal before concluding that the market has reached its bottom