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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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- 📢 ETH Heading for $4800? Have Your Say! Show Off on Gate Square & Win 0.1 ETH!
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- 🧠 #GateGiveaway# - Crypto Math Challenge！
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- 🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
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Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
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Is the Rise of XRP Coming to an End? What Do On-Chain Data Show?
XRP Bulls Show Signs of Fatigue
In the daily chart, the Relative Strength Index of XRP shows readings of (RSI), indicating that the market may be overbought. As of this writing, the token's RSI value is at 72.95, which is above 70 and signals the exhaustion of incoming buyers.
The RSI indicator measures the overbought and oversold market conditions of an asset. It ranges from 0 to 100. Values above 70 indicate that the asset is overbought and may be ready for a price decline, while values below 30 suggest that the asset is oversold and may experience a recovery.
The RSI value of XRP, which is at 72.95 and rising, indicates that the upward momentum is likely to experience a cooling soon. Traders may interpret this as a signal to take profits, which could put further pressure on XRP's price.
If demand stops in the next few trading sessions, the price of XRP may drop to the level of 2.45 Dollars.
However, if buying pressure continues to increase, XRP may rise towards the $2.65 level.