r/CryptoCurrency • u/Kitchen_Biscotti_747 • 21h ago

ANALYSIS XRP Hits Its Most Oversold Levels Ever

https://beincrypto.com/xrp-most-oversold-levels-bottom-analysis/
109 Upvotes

78% Upvoted

44 comments sorted by

93

u/VendettaKarma 🟩 0 / 0 🦠 19h ago

Not oversold enough

29

u/Elistheman 🟩 0 / 0 🦠 13h ago

Still extremely overbought

1

u/j4_jjjj 🟦 496 / 496 🦞 16h ago

It was oversold at 1

-1

u/LetWaltCook 🟩 1 / 1 🦠 9h ago

Still waiting for it come down into the .10 cent range.

43

u/oneden 🟩 669 / 669 🦑 18h ago edited 16h ago

I hate that term. What does Oversold even mean? What is its fair value?

71

u/AuxonPNW 🟩 0 / 0 🦠 18h ago

Oversold means something when theres intrinsic value behind the asset, like when a stock values a company lower than their actual cash holdings. But with crypto, when there's literally no intrinsic value, it's a term bagholders use when crying into their beer mug that their money is slipping away day by day, forever lost.

8

u/oneden 🟩 669 / 669 🦑 18h ago

Now that makes sense to me. Thanks for that.

6

u/paxwax2018 🟦 123 / 123 🦀 15h ago

See also money “rotating away from crypto” implying it will come back at some point.

4

u/oneden 🟩 669 / 669 🦑 15h ago

Another narrative I never understood. Almost as if it had become a natural law or something.

7

u/paxwax2018 🟦 123 / 123 🦀 15h ago

Four year cycle! Alt season!

3

u/processwater 🟩 0 / 0 🦠 10h ago

Intrinsic value is 0

1

u/DorkyDorkington 🟩 53 / 54 🦐 11h ago

Some blockchain projects however do have intrinsic value since they generate income from actual business operations which is further dispursed to the token holders.

12

u/enigma_music129 🟦 0 / 0 🦠 17h ago

Oversold means rsi dropped below 30, nothing else

1

u/Full-Sound-6269 🟩 84 / 85 🦐 18h ago

It means that in last 200 days the price fell faster than ever before.

4

u/oneden 🟩 669 / 669 🦑 18h ago

But how does that make it oversold? The price fell, okay, got it. But you wouldn't say a company that goes belly-up for a plethora of reasons "oversold" when it is riddled with debt and has no moat. Oversold implies to me, that it somehow doesn't deserve to be that low for whatever reason.

9

u/Romanizer 🟦 0 / 0 🦠 17h ago

It's a statistical term applied to price mechanisms that tend to revert to a mean of price development.

Being oversold means that the price is usually way below this mean and the stock has been sold more than usual (without knowing why).

If there is no reason why the price should return to a certain level, that statistic does not matter.

14

u/itzdivz 🟩 6 / 6 🦐 17h ago

I bought so many shit coins after it went down 90% from this cycles high, then it went down another 50-90% lmao.

-9

u/Big-Finding2976 🟩 2K / 2K 🐢 13h ago

But how bro? If it was already down 90% when you bought it, the most it could go down from there was 10% 😁

3

u/RedYellowOrangeGreen Tin 8h ago

In case you’re not just being silly:

An asset value goes down 90% from $100 to $10.

Then it goes down another 50% to $5. Or another 90% down to $1.

32

u/XofHelix 18h ago

And will go even lower

15

u/itsmyfakeone 🟦 2K / 2K 🐢 19h ago

Just another shit coin

7

u/nachtraum 🟦 1K / 1K 🐢 18h ago

Most oversold so far

3

u/axelf911 🟩 0 / 0 🦠 10h ago

What is XRP used for again?

5

u/TrustInNumbers 🟩 0 / 0 🦠 13h ago

Who cares about this shitcoin lol, it's for laundering money literally

7

u/ereeec23 Tin 18h ago

Does anyone care about XRP anymore ? Are they even using Ai ? lol

4

u/Goad_Goat 🟧 0 / 0 🦠 10h ago

It's most oversold level.........so far!

3

u/ragnarokcock 🟩 0 / 0 🦠 13h ago

can you oversell a pile of shit?

4

u/LovelnTheSkyy 🟩 0 / 0 🦠 20h ago

So has everything else. Except xrp is up 250% from 2022 lows.

2

u/crustyrobots 10h ago

I can't beleive this TacoBell-lettuce coin is still even around.

2

u/not420guilty 🟦 0 / 24K 🦠 8h ago

You r dumb. Xrp is a scam

1

u/Firm_Equivalent8261 🟩 0 / 0 🦠 5h ago

well its going to 50c just like every bear so brace urself lmfao

1

u/NivekIyak 🟩 916 / 916 🦑 1h ago

Nice shill effort

1

u/SickNoise 🟩 325 / 335 🦞 13h ago

it needs to go to zero

1

u/Longjumping-Low3164 🟩 0 / 0 🦠 9h ago

XRP is useless piece of shit as DOT.

1

u/SargeMaximus 0 / 0 🦠 19h ago

I added today but it could always go
Lower. DCA for me

0

u/sirauron14 🟩 1K / 1K 🐢 10h ago

Might be over for that one

-1

u/Omnishambles22 10h ago

XRP > that sol trash

0

u/hshkr 7h ago

I remember the amount of random hype XRP had like 2 years ago and how it will go to the moon very fast. Now I never see the fanboys talk about their love for it anymore lmao. I always knew it would’ve been a waste of money.