XRP Drops 71.7% From Record High as Buy Signal Starts to Emerge
Minseung Kang
Summary
- XRP has fallen 71.7% from its all-time high and entered oversold territory.
- On-chain analyst Ali Martinez said XRP is trading at deeply oversold levels.
- Martinez said a new buy signal is starting to emerge and that the setup is becoming more interesting.
Forecast Trend Report by Period
XRP has fallen more than 70% from the record high it set last year, with a new buy signal beginning to emerge as the token moves into oversold territory, according to an analysis.
On Aug. 11, on-chain analyst Ali Martinez wrote on X, formerly known as Twitter, that XRP was down 71.7% from its all-time high of $3.66 reached in July last year.
After such a steep correction, XRP is trading at deeply oversold levels, he wrote. A new buy signal is also starting to appear.
"This is where things start to get interesting," Martinez added.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.