Key facts
- XRP's monthly relative strength index (RSI) has fallen to 42.7.
- This RSI level has occurred only three times before: Nov 2015, Mar 2020, Aug 2022.
- Each prior instance was followed by a substantial price increase.
- XRP is currently trading near the lower support boundary of a decade-long ascending channel.
- The token has dropped over 10% in June, reaching multi-month lows around $1.18.
XRP may be poised for a significant price recovery, according to analysts observing a recurring technical signal. A long-term ascending channel, in place since 2017, currently shows XRP trading just above its lower support boundary. This position, combined with a deeply depressed monthly momentum reading on the relative strength index (RSI) at 42.7, mirrors conditions seen before previous major price rallies.
The monthly RSI has reached levels near its lowest historical points only three times before: November 2015, March 2020, and August 2022. Each of these instances preceded substantial price increases for XRP. For example, the August 2022 occurrence, with RSI at 43.9 and prices around $0.31, was followed by a climb to $3.40 by January 2025.
Currently, XRP has experienced a more than 10% drop in June, reaching multi-month lows around $1.18, with a 9% decline in the past week. Despite this selling pressure, the token has reportedly held above the ascending channel's lower boundary. Analysts suggest that the current combination of price holding at structural support and momentum indicator reaching historical lows could signal an impending recovery, potentially targeting the channel's upper resistance line.