Respect the daily RSI, that is all.

XRP’s daily RSI is truly a king maker.

Context:

First was u/scandel929 who sold out at $0.52 expecting to re-enter at $0.48.

Then came u/jaktraq who asked if he should sell at $0.62 and re-enter at $0.50.

I offered Jaktraq neutral/measured advice;

https://www.reddit.com/r/XRP/comments/17m3yf3/comment/k7ifx57/?utm_source=share&utm_medium=web2x&context=3

But then we ran on $0.72 and I felt obligated to chime in about RSI being extremely overheated.

https://www.reddit.com/r/XRP/comments/17p1w37/that_daily_rsi_thou/

We’re now down 10%, forming a Wyckoff distribution pattern on the hourly chart, and the daily RSI is still extremely high (70)

This tells me we’re going to retest $0.70 (underside of ceiling) before rejecting back to the low $0.60s.

I’m holding out hope we rebound off the $0.62 range, but knowing XRP we’re probably going all the way back to $0.55 before our next leg up.

Eitherway, I’m HODLing. I didn’t sell the top. Which is probably only reason I got this call so spot on. Let’s see if I’m right about the rebound range.

Remindme! 2 weeks