In an X post, Skipper revealed that XRP’s stochastic RSI has hit 0.0 for only the second time ever. However, Skipper suggested that analyst Steph’s discovery about XRP’s Stoch RSI hitting 0.0 on the 3-week chart provides some optimism. He noted that this has only happened once before, which was in 2020, right before the altcoin bottomed at $0.28 during the Terra LUNA crash. The analyst also mentioned that the drop in the stoch RSI marks cycle lows, not short-term trades.

In an X post, analyst Skipper confirmed XRP’s stochastic RSI has fallen to 0.0 for the second time in history. The finding references Steph’s analysis on the 3-week chart, which provides some optimism for XRP’s outlook. The prior occurrence in 2020 preceded XRP’s bottom near $0.28 during the Terra LUNA crash. Skipper emphasized that the drop to 0.0 marks cycle lows, not short-term trading signals.

This nuance suggests the move could reflect a broader cycle rather than a quick, tradable spike. As always, RSI readings should be weighed with additional indicators to gauge potential trend direction and avoid overinterpreting a single metric.

Follow NOW

Leave a Reply

More Articles

follow now

Trending

Discover more from Rich by Coin

Subscribe now to keep reading and get access to the full archive.

Continue reading