🔥 Key Takeaways
- XRP has declined ~16% since January 14, with a minor rebound still leaving it down 2% in 24 hours.
- Market sentiment remains cautious, but key indicators suggest selling pressure may be easing.
- A historically reliable momentum setup is emerging, hinting at a potential recovery.
- One critical metric has hit a 6-month low, possibly signaling a reversal point for XRP.
XRP Price Correction: Is the Worst Over?
The XRP price has faced significant downward pressure in January, dropping roughly 16% since mid-month. Despite a slight rebound, the asset remains down nearly 2% over the past 24 hours, reflecting lingering market uncertainty. However, recent on-chain and technical signals suggest that the selling momentum may be weakening rather than accelerating.
Key Metrics Suggest a Potential Reversal
One notable metric—often a precursor to trend reversals—has reached a 6-month low, raising hopes for an XRP recovery. Historically, when this indicator bottoms out, it has preceded bullish momentum shifts. Additionally, the Relative Strength Index (RSI) is approaching oversold territory, which could attract bargain hunters and stabilize the price.
What’s Next for XRP?
If the current support level holds, XRP could consolidate before attempting a recovery toward key resistance zones. Traders will closely monitor whether the fading selling pressure translates into sustained buying interest. A breakout above recent highs could reignite bullish sentiment, while failure to hold support may lead to further declines.
Read Also Epochs
