Cryptocurrency

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 <p class="paragraph">The <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency market has started moving again after a low-volume week, with most digital assets trading in a consolidation range.</p>
 <p class="paragraph">However, some cryptocurrencies register an oversold status due to huge losses suffered in recent weeks. This could create a buying opportunity for the next few days if these projects have strong fundamentals to fuel demand.</p>
 <p class="paragraph">Notably, Bitcoin’s (BTC) price action evidenced the consolidation range after a downtrend from January 12 to January 22. The leading cryptocurrency slightly recovered from the drop, entering an 8-day consolidation range broken on January 7.</p>
 <p class="paragraph">As of writing, BTC trades at $45,092, back to its price level three weeks ago, before the short-term downtrend. This movement could propel oversold cryptocurrencies into a bullish trend moving forward.</p>
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 <h2 class="wp-block-heading" id="h-buy-signal-for-an-oversold-xrp">Buy signal for an oversold XRP</h2>
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       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="ripple-dumps-120-million-xrp-in-just-5-days">Ripple dumps 120 million XRP in just 5 days</h3>
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       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="xrp-weekly-chart-triggers-massive-buying-opportunity">XRP weekly chart triggers massive buying opportunity</h3>
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       <h3 class="font-bold leading-6 " id="judge-drops-the-hammer-forces-ripple-to-hand-over-all-financial-records">Judge drops the hammer, forces Ripple to hand over all financial records</h3>
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       <h3 class="font-bold leading-6 " id="former-sec-chief-drops-bombshell-on-ripple-case">Former SEC chief drops bombshell on Ripple case</h3>
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       Cryptocurrency 
       <h3 class="font-bold leading-6 " id="this-is-xrp-s-level-to-watch-for-bulls-to-take-control">This is XRP's level to watch for bulls to take control</h3>
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 <p class="paragraph">In particular, Finbold spotted an oversold XRP at <em>CoinGlass</em>’s weekly Relative Strength Index (RSI) heatmap on February 8.</p>
 <p class="paragraph">The sixth-largest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency by market cap trades at $0.515 by press time, up 2.5% in 24 hours. Interestingly, its daily RSI remains weak at 43.35, while lower time frames position XRP in a surging momentum.</p>
 <p class="paragraph">In the meantime, XRP’s weekly RSI registers 27.69 points, making it one of the last oversold cryptocurrencies this week. The short-term price action could trigger a reversal from this zone if further developments play favorably.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="515" src="https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp" alt class="wp-image-153949" srcset="https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp 1024w, https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp 300w, https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp 768w, https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp 1536w, https://cdn.thebittimes.com/images/2024/02/08/ad29314fe2d2a201a26cc9579102a88f.webp 2036w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Crypto market RSI heatmap, weekly XRP. Source: <em>CoinGlass</em>
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 <h2 class="wp-block-heading" id="ark-ark">Ark (ARK)</h2>
 <p class="paragraph">Another potentially <a rel="noopener noreferrer nofollow" title="oversold" href="https://thebittimes.com/tag/oversold.html">oversold</a> <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency is Ark (ARK). The token has a 28.23 weekly RSI, trading at $0.849 and up 3.35% as of writing. Like XRP, ARK <a rel="noopener noreferrer nofollow" title="signal" href="https://thebittimes.com/tag/signal.html">signal</a>s a trend reversal with its low time frame RSIs.</p>
 <figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="515" src="https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp" alt class="wp-image-153950" srcset="https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp 1024w, https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp 300w, https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp 768w, https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp 1536w, https://cdn.thebittimes.com/images/2024/02/08/111d864c7ba58ae4d7bde33dde7e1317.webp 2036w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Crypto market RSI heatmap, weekly ARK. Source: <em>CoinGlass</em>
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 <p class="paragraph">Interestingly, the average weekly RSI for the <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market is 57.11, increasing the relevancy of projects below that line.</p>
 <p class="paragraph">Nevertheless, having an oversold RSI status does not guarantee price recovery. Understanding why this extreme weakness indicator is vital for investors looking to buy signals. The cryptocurrency market is highly volatile, and projects usually respond aggressively to news and relevant events.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/buy-signal-for-2-oversold-cryptocurrencies-this-week-tbt79293.html">https://thebittimes.com/buy-signal-for-2-oversold-cryptocurrencies-this-week-tbt79293.html</a></p>

Buy signal for 2 oversold cryptocurrencies this week

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