XRP Trades Near $1.05 in Deeply Oversold Territory as Broader Crypto Risk Unwinds
XRP has pulled back sharply from a mid-May high near $1.48 to around $1.05, with RSI readings hitting levels around 20 before a modest bounce. Two successive rally attempts into the $1.14-$1.24 range were both sold, leaving bears in control of near-term momentum. The move is occurring alongside a broader unwinding of crypto risk appetite rather than in isolation.
XRP reached a local high near $1.48 in mid-May before rolling over into a clear downtrend. The subsequent sell-off brought price down to approximately $1.04, at which point the Relative Strength Index reached deeply oversold readings in the vicinity of 20, a historically rare level for the asset.
Since that low, XRP has staged two separate bounce attempts, each reaching the $1.14 to $1.24 range. Both recovery moves were met with selling pressure, preventing any sustained recovery. Price has since returned to near $1.05, sitting close to the 20-period moving average with RSI recovering only modestly to around 32 and pointing lower again.
Analysts note that XRP is not moving independently of the broader market. The current weakness is being attributed in part to a general unwinding of the crypto risk trade, meaning macro and sentiment conditions across digital assets are compounding XRP-specific price dynamics.
The pattern of lower highs on each bounce attempt is characteristic of a market where sellers remain dominant at each recovery attempt. Until a bounce can hold above the prior rejection zone and close with conviction, the technical structure remains bearish on short timeframes.
Key levels being watched include support near $1.04 to $1.05 on the downside, and the $1.24 area as the near-term resistance that bulls need to reclaim to shift momentum.
Key facts
- •XRP topped near $1.48 in mid-May
- •Price flushed to approximately $1.04 with RSI near 20
- •Two bounce attempts into $1.14-$1.24 zone both sold
- •RSI recovered to around 32 but remains below neutral
- •Price sitting near 20-period moving average at $1.05
- •Weakness attributed partly to broader crypto risk-off conditions