I just looked at the XRP charts and couldn't believe my eyes — the RSI on the daily chart dropped to 17, and on the weekly below 28. These are historic lows that the coin has never touched before. At the same time, the entire crypto market is losing money — yesterday a minus of 311 billion in one day, the largest single-day decline since October of last year.

XRP retreated by 19.71% yesterday, marking the sharpest intraday drop in the past five years. The coin is now holding at around $1.30, having lost support at $1.40 and $1.50. Over the week, the crypto market shed $369 billion in value, with XRP alone contributing $18 billion to these losses. For context, this decline even surpassed the crashes of Terra in 2022 and the FTX collapse of the same year.

An interesting point: despite such extreme conditions, XRP remains above the psychological $1 mark. When RSI is at such extreme lows, it usually signals that sellers are nearing exhaustion. Plus, if you look at XRP's entire history and its previous highs, the current levels appear as classic oversold territory. Analysts say that at such indicators, the market could be ready for a rebound, but it depends on the overall structure. If sentiment remains bearish, the decline could continue.