XRP has entered what analysts describe as its most oversold state in 13 years, with monthly momentum reaching a record low while price action tests a long-term rising support base.
On August 17, XRP traded around $1.0022, up 0.97% on the day and recovering above the psychologically important $1 level after last week’s dip below it. All four exponential moving averages remained overhead, and the descending trendline was just above price. The monthly RSI fell to its lowest reading in years, a condition that has historically coincided with major bottoms for the token.
On-chain data showed XRP Ledger reached 49,929 active addresses in a single 24-hour span, the highest in over two months, even as crowd sentiment hit a three-month bearish extreme. Some traders view the combination of historically oversold momentum and improving network activity as a potentially bullish divergence.
Market chatter also addressed several circulating stories. The SEC’s August 14 Regulation Crypto meeting was canceled due to scheduling issues. A reported 72 million XRP whale accumulation story was questioned: large-holder balances rose, but that does not prove open-market buying or immediate positioning. Morgan Stanley disclosed small exposure to several XRP ETFs in its latest 13F filing, though commentators cautioned the positions were modest relative to the firm’s size. A 50 million XRP transfer from a Ripple-linked wallet was confirmed; roughly 1 million XRP later moved toward a Binance-linked wallet, while most stayed in an intermediate wallet, suggesting no major dump.
Analysts remain cautious but note that if historic oversold conditions meet long-term support, XRP could attempt a significant rebound. Some forecasts suggest a final bottom around $0.87 before a powerful upward move.
