XRP Plunges to $2.20: Oversold Indicators Hint at Potential Rebound
XRP price fell over 10% this week to $2.20. The asset is now in oversold territory as the weekly Stochastic RSI hits 2.73. Historically, similar oversold signals preceded gains of 53%, 216% and 591%. A bullish divergence on the daily RSI suggests selling pressure is easing. Currently, XRP tests the descending channel’s upper trendline near $2.19–$2.20. Fibonacci levels point to upside targets at $2.78, $3.40, $4.41 and $5.21. Trading volume remains high, underscoring strong market interest. On-chain data show Binance inflows exceeding 70 million XRP on October 25 and November 15, raising potential selling pressure. Glassnode reports 42% of holders are at a loss. Traders await confirmation of a rebound by reclaiming resistance. The mix of XRP oversold conditions and exchange inflows will shape the next major move.
Neutral
The report highlights deeply oversold conditions and bullish RSI divergence, both of which have historically preceded strong rebounds in XRP. Fibonacci levels outline clear upside targets, and sustained high volume indicates significant market engagement. However, large inflows of over 70 million XRP to Binance and a rising percentage of holders in loss introduce potential selling pressure. This blend of bullish technical signals and bearish on-chain flows creates uncertainty. Traders are likely to remain cautious, awaiting a clear break above resistance before committing. As a result, the immediate market impact is expected to be neutral, with direction hinging on confirmation of either a rebound or further sell-off.