XRP Tests $1.60 Support After 5-Month Oversold Period

⬤ XRP just hit a major technical zone after filling that April 2025 wick low while still respecting the descending channel support it’s been riding for months. This move is part of a bigger corrective reset that’s been building. The charts show XRP stabilizing around $1.60 where that channel support lines up with old demand zones. When price stalls here after a long drop, it usually means sellers are running out of steam.

⬤ The descending channel has been guiding XRP’s path with clear rejections at the top and bounces at the bottom. This latest dip brought price right back to that lower boundary and filled the April wick. Traders watch these wick fills closely because they often mark the end of downside probes rather than the start of new crashes. XRP is still stuck below channel resistance, but holding support here suggests the bearish momentum might be fading.

⬤ The momentum indicators back this up. Weekly Stochastic RSI and MACD have been deep in oversold territory for almost five months straight. That’s a long time to stay oversold and usually happens during extended market resets, not aggressive selloffs. It means bearish pressure has been bleeding out slowly even while price grinds near the bottom of the range.

⬤ This setup matters because XRP often signals where medium-term altcoin sentiment is headed. The combo of a completed wick fill at long-term channel support plus deeply oversold readings for five months marks a critical zone. It doesn’t guarantee an immediate reversal, but it does suggest this correction might be wrapping up. How XRP acts around $1.60 support could set the tone for broader crypto volatility in the coming weeks.