Expert Highlights Bitcoin/XRP RSI: Many experts who follow cryptocurrency markets closely are watching XRP’s growth patterns because they believe a significant increase is about to happen. One analyst, named Dark Defender, pointed out that the Relative Strength Index (RSI) on the XRP/BTC weekly chart looks similar to what it looked like during the bull markets of 2017 and 2021.
If we can trust the setup, this connection suggests that the digital currency’s price might be getting ready for a big increase.
XRP Forms Intriguing Rally Show
Based on the chart from Dark Defender, the XRP/BTC RSI is showing “oversold,” just like it did in 2017 and 2021, when the price of XRP went up to $3.3 and $1.9.
When XRP is oversold, it usually means people are selling it more than buying it. This could lead to more people buying XRP, which might make its price go up. A market analyst named CrediBULL Crypto thinks XRP’s price might go up too.
Recognizing that XRP is the cryptocurrency that people both love and hate the most, CrediBULL Crypto observed that the coin has experienced a significant drop in value, which caught his attention. He said he would share more thoughts on what might happen to the cryptocurrency in the future.
XRP Attention: Multifaceted
Many people are excited about the upcoming launch of a spot XRP ETF, which is a big step forward in the XRP ecosystem. There has been a lot of demand for this product, especially after false rumors last year about BlackRock being involved. However, now that a spot Bitcoin ETF has been approved, experts are less confident that an XRP alternative will happen in the future.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
