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XRP coin is now at an interesting point. The price has been under pressure for the past few months, but recent charts suggest a potential change. The RSI of the XRP/BTC pair has dropped to just 24 — the lowest in months. Historically, such oversold conditions have preceded strong recoveries.
On-chain data is also more indicative. The MVRV Z-score is near zero, meaning most holders are close to their purchase prices. This indicates accumulation rather than selling. There is a large support cluster around the XRP coin that is helping to hold the price. Even when the market is weak, these levels remain important.
Previous cycles show that such patterns often coincide with reduced downside risk. If XRP coin maintains this support, a small recovery toward the next resistance is possible. However, a break below this level would mean increased downward pressure. Currently, there is a balance between buyers and sellers — how this plays out in the coming weeks will be interesting to watch.