Matrixport: XRP shows signs of rebound, but uncertainty over SEC regulation still exists

PANews reported on February 18th that Matrixport analysis pointed out that the recent trend of XRP against USDT has shifted from a long-term sideways movement to a rapid rise, increasing the complexity of market chart analysis. In trading strategies, the Relative Strength Index (RSI) is a commonly used indicator. Historical data shows that when RSI approaches 40%, there is a higher probability of XRP rebounding, while when RSI approaches 70% it may enter an overbought state.

Currently, the RSI of XRP is about 40%, and technical aspects show it still has potential for growth. Especially after the inauguration of the new U.S government, SEC might re-examine its lawsuit against Ripple Labs which brings some uncertainty to the market. The analysis believes that there may be further upward space for XRP's recent rebound.