We can see every single time the weekly stochastic RSI crossed downwards in the overbought territory, it lead to big dumps. The smallest dump being ~29.6% in 2014. The average dump being 54.5%.
Currently we've seen about a ~22% dump. If we were to have the lowest we've seen so far (excluding current), we would be placed at $0.64 XRP.
Currently we've seen about a ~22% dump. If we were to have the lowest we've seen so far (excluding current), we would be placed at $0.64 XRP.
Comment:
Even though we just touched the $0.64 minimum target for this dump. I would not be looking to buy until the stochastic RSI is in the oversold territory. There are only 2 instances where the stochastic RSI did not reach oversold territory before putting in the bottom.