XRP hits rare momentum reset, analyst eyes rally to $6.50

Will Taylor says XRP hit a rare momentum reset. RSI and MACD sit at extreme lows. He sees room for a sharp upside if $1.38 holds.

Taylor points to RSI near 30. He calls it the “second-lowest” for XRP. Past oversold or ≤32 prints marked major lows, per prior studies of the RSI setup documented here.

He stresses the speed. RSI fell from ~91 to ~30 fast. “The market became too bearish too quickly,” he wrote.

Price base matters. He puts the current base near $1.38. The last explosive move began around ~$0.38. A repeat of the November 2024 ~500% burst implies roughly $6.5.

MACD backs it up, he says. It sits at the lowest reading on record. That signals stretched downside and room for reversal if momentum turns.

Wave count adds a speculative path. Taylor sees a possible wave three. He cites a target zone of $8–$12, discussed in this analysis. He flags the scenario as speculative.

Policy could act as a kicker. Coinbase CLO Paul Grewal said the Clarity Act is moving after an agreement with banks. Market focus shifted to the week starting May 11 as a potential markup window, per this update.

Ripple has pushed for market structure rules. Taylor notes criticism from Cardano founder Charles Hoskinson, who argues the bill could favor XRP. He says the dispute shows how big the bill could be if it advances.

At press time, XRP traded at $1.4155.