XRP Price Under Pressure: Is a Relief Rally or More Pain Ahead?
XRP has flashed an oversold signal on the hourly chart amid extended profit-taking in recent weeks. The payments network’s cryptocurrency has been in a steady drop since August, as the broader markets weighed macroeconomic concerns. XRP extended its drop from the Aug. 8 high of $3.38, marking several days from this date in red. The decline caused XRP to lose the daily SMA 50 at $2.99, which it had been above since early July.
XRP Price Surge Highlights Growing Link Between Fed Policy and Crypto
Fed Chairman Jerome Powell’s address in Jackson Hole, Wyoming, was anxiously anticipated by the market today. Powell’s term as Fed chair ends in May 2026, and this speech may be his last. It gave more insight into the forecast for interest rates. In this direction, at the time of writing, XRP was trading at $3.03, up 5.1% over the previous day, based on CoinMarketCap data.
Given that investors closely correlate the success of digital assets with monetary policy signals, Powell‘s comments gave the larger cryptocurrency market new impetus. Although Bitcoin and Ethereum had slight increases as well, XRP’s notable 5.1% increase highlighted traders’ renewed hope that softening rate expectations could spur altcoin growth. In an already volatile market, analysts predict that assets like XRP might gain disproportionately if the Fed affirms a more dovish attitude in the upcoming months. This would draw demand from both institutional and retail investors.
XRP’s RSI Indicates Oversold Conditions at Key Levels
On XRP’s hourly chart, the RSI, a momentum indicator, has fallen below 30, suggesting an oversold signal. RSI values above 70 are regarded as overbought, while those below 30 are regarded as oversold. Now, XRP has to confirm oversold conditions that could lead to a short-term relief rally, or at the very least, a dead cat bounce. To ascertain XRP’s next course, the recovery of the larger cryptocurrency market and investor sentiment will be monitored.
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