XRP's monthly Relative Strength Index (RSI) has dropped below levels recorded during the 2020 market crash, placing the token's momentum in historically depressed territory even as its long-term market structure continues to show progressively higher support floors across cycles. The RSI, a widely used momentum oscillator that measures the speed and magnitude of price movements on a scale of 0 to 100, is particularly significant on monthly timeframes, which carry greater analytical weight than shorter intervals.

According to a long-term XRP chart shared by analyst Shahnawaz in a post on X, XRP currently trades approximately 72% below its all-time high. The monthly RSI reading has fallen beneath the lows recorded during the March 2020 COVID-19 crash, signaling deeply oversold conditions on a multi-year timeframe.

Higher Cycle Lows Persist Across Market Cycles

The chart identifies successive market cycles and their respective correction bottoms. Earlier cycle lows formed near $0.10, followed by a subsequent bottom around $0.28. The most recent correction found support near the $1.00 region. Each major decline has produced a higher long-term price floor, meaning structural support has gradually shifted upward across market cycles despite repeated drawdowns.

XRP, the native token of the Ripple payment network, has faced unique pricing pressures tied to the ongoing SEC v. Ripple litigation that began in December 2020. The lawsuit alleged that XRP sales constituted unregistered securities offerings, creating a regulatory overhang that has distinguished XRP's price trajectory from many other large-cap digital assets.

Short-Term Price Action and Volume Trends

On the daily timeframe, XRP reflected shifting intraday momentum. Buyers initially pushed the price above nearby resistance before selling pressure slowed the advance. Repeated attempts to break above $1.09 attracted consistent profit-taking, and the price gradually settled into a narrower trading range with moderate volatility prevailing through most of the session.

At the time of writing, XRP was trading at $1.07, up 0.25% over the past 24 hours. Buyers rallied from recent lows after absorbing the sell-off, with price quickly recovering toward the daily closing area.

Daily trading volume reached approximately $1.02 billion, representing a decline of more than 22% from the previous session. The reduced participation coincided with relatively stable market conditions.

Liquidation Activity Signals Leverage Reset

Liquidation data covering late June through late July showed XRP trading mostly between $1.03 and $1.17. Price movements triggered alternating long and short liquidation events throughout the period.

In early July, several notable short liquidations occurred, with some exceeding $3 million during upward price moves. These forced exits were accompanied by brief buying surges.

The largest single liquidation event took place near July 27, when long liquidations approached $4.85 million following a modest pullback. Leveraged bullish positions absorbed the largest monthly losses during that event.

Liquidation activity gradually moderated toward the end of July, with smaller liquidation bars reflecting reduced leveraged exposure. XRP remained above the psychological $1.00 support level throughout the entire observed period.