XRP enters rare 13-year oversold zone; $15 target eyed
XRP remains under pressure as the broader crypto market turns risk-off, with Bitcoin losing the $70,000 support level. Traders linked the move to weakening macro conditions and reduced appetite for speculative assets.
On-chain data adds a timing clue: Santiment flagged a sharp exchange flow cycle for XRP. It reported 22.8M XRP inflows to exchanges, followed soon by 25.24M XRP outflows. Analysts say this pattern coincided with a local price bottom, suggesting retail selling pressure may have peaked before a modest rebound.
Despite the recent weakness, bullish analysts argue XRP is trading in a key accumulation area. Javon Marks points to a multi-year falling-wedge setup and historical “false breakdowns,” forecasting a potential ~10x upside if current compression resolves, with a stated target above $15. Cryptollica highlights XRP’s monthly RSI entering a “deep reset” oversold condition—rare across XRP’s 13-year history—previously seen before major turns (2017 breakout, 2020 recovery, and the 2022 bear-market bottom). CryptoPatel frames the chart as a continuation of an accumulation structure, citing a prior consolidation that preceded an 835% rally.
Key levels from the article: XRP is described as ranging roughly $1.10–$1.30. A breakdown could expose support near $0.85–$0.65 (a “generational entry” zone for long-term buyers). At the time of writing, XRP trades around $1.12, up about 3.70% over 24 hours.
Bullish
The article frames XRP as approaching a rare technical/indicator “reset,” while on-chain flows hint that selling pressure may already have bottomed. Santiment’s reported exchange inflow (22.8M XRP) followed by a larger outflow (25.24M) around a local bottom suggests that retail pressure could be exhausting—often a precursor to rebounds. Historically, similar RSI “deep reset” moments for XRP preceded major turning points (2017 breakout, 2020 recovery, and the 2022 bear-market bottom), supporting a rotation back into risk-on when broader conditions stabilize.
In the short term, bearish pressure could persist if BTC remains weak below $70,000, and a clean breakdown of XRP’s $1.10–$1.30 accumulation zone would likely trigger follow-on selling toward $0.85–$0.65. In the longer term, the repeated falling-wedge/compression narratives and the “accumulation then expansion” comparisons imply asymmetric upside—traders may position for a breakout while using the lower support band as a risk reference.