According to The Crypto Basic, market analyst Steph noted that the Stochastic RSI for XRP has dropped to 0.0 on the 3-week chart for the second time in its history. This rare event occurred previously during the 2022 bear market, when XRP hit a low of $0.28. Steph highlighted that the indicator reaching 0 suggests that downside momentum may be exhausted, though it does not confirm an immediate reversal. XRP has been in a bearish trend since October, with a 35% drop in the fourth quarter of 2024, leading to an annual decline of 10.39%.
XRP Stoch RSI Drops to 0.0 for Second Time in History
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Summary
XRP’s RSI dropped to 0.0 on the 3-week chart, marking the second time in history. The first occurred in 2022 during a $0.28 low. Analyst Steph says the move hints downside momentum may be fading but no reversal is confirmed. XRP has fallen 35% in Q4 2024, with a 10.39% annual drop. Traders are watching altcoins to watch for signs of a broader market shift.
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