XRP Attempts Fresh Breakout at Oversold Technical Zone
Ripple (XRPUSD) has launched new breakout attempts in the cryptocurrency market after hitting an oversold region, but the pace appears to be slowing.
XRP positive price movement stems from a combination of a fresh ETF catalyst, oversold technical, and contrarian sentiment—a typical relief rally within a larger corrective phase.
Trading data obtained from CoinMarketCap.com revealed that XRP edged higher by about 1% over the last 24 hours to $1.92, a modest rebound after a 7% weekly decline.
For holders, the immediate focus is whether buyers can push XRP above the $1.95–$2.00 resistance zone, signaling a more sustained recovery. The cryptos market stays tight, driven by sellers taking profit amidst geopolitical, geoeconomic instability, and regulatory inaction.
The move slightly outpaced the broader crypto market and appears driven by a mix of a fresh institutional catalyst and oversold technical conditions.
Investors’ sentiment in the crypto space remained tight ahead of the U.S. Federal Reserve’s uncertain rates decision amidst its Chair Jerome Powell criminal probe.
The markets expect the Fed to maintain the status quo, though there were market developments that crypto analysts anticipate would spur the next bargain hunting.
Cyber Hornet ETF LLC filed an S-1 with the SEC to launch a spot S&P Crypto 10 ETF, which would allocate 5% of its portfolio to XRP. This is the first U.S. spot ETF proposal linked to a broad crypto index including XRP.
Crypto analysts said the filing reinforces XRP’s status as a top-tier institutional asset and creates near-term bullish narrative momentum. It signals continued demand for regulated XRP exposure, potentially attracting incremental capital.
However, approval is not guaranteed and could take months. XRP’s 7-day RSI of 41.75 indicates oversold conditions, often preceding a short-term technical rebound. The price found intraday support near $1.90, a key level defended in recent days.
The bounce is primarily technical, reflecting a temporary pause in selling pressure rather than a fundamental shift. With the price still below all major moving averages at $2.01, the broader trend remains bearish. This sets up a resistance test near $1.95–$2.00.
Traders said extreme negative sentiment can act as a contrarian indicator. Bitcoin, Ethereum Drag Crypto Market Cap to U.S$3.0 Trillion
