Market Overview: XRP/Mexican Peso (XRPMXN) – 24-Hour Technical Analysis

• XRP/Mexican Peso (XRPMXN) formed a bullish breakout and consolidation pattern after a 24-hour high of 49.0.
• Price retested key support at 47.28 and found buyers before consolidating above 47.31.
• RSI suggested overbought conditions during the day but reversed into oversold territory.
• Bollinger Bands showed low volatility early, expanding as volume picked up post-18:00 ET.
• No notable divergence between price and turnover observed, with volume surging during key price moves.

The XRP/Mexican Peso (XRPMXN) pair opened at 45.705 on October 12 at 12:00 ET and reached a high of 49.0 by 07:30 ET on October 13. The 24-hour low was 45.705, and the final close at 12:00 ET was 47.31. Total volume amounted to 714.8, with a notional turnover of 34,487.5. The price action reflected a strong short-term rally followed by a bearish reversal.

In the 15-minute chart, support levels emerged at 47.28 and 47.31, with the 48.231 level acting as a key short-term resistance. A bearish engulfing pattern appeared at 22:45 ET, followed by a doji near 47.391, signaling indecision and potential exhaustion. The 20-period and 50-period moving averages both crossed above the price mid-day, indicating a bullish bias in the short term, while the 50-period daily MA provided a baseline of support.

The MACD line crossed above the signal line in early evening, confirming a short-term bullish momentum, while RSI moved into overbought territory before retreating into oversold conditions by the end of the 24-hour window. Bollinger Bands expanded as price volatility increased post-18:00 ET, with the price closing just below the upper band at 49.0. The contraction observed earlier in the day was followed by a clear breakout.

Fibonacci retracement levels identified the 61.8% retracement at 47.31 and the 38.2% level at 48.02, both of which were tested during the day. The price found support at the 61.8% level and bounced upward slightly, suggesting a potential reversal. Given the consolidation above key support and bearish reversal patterns, the pair could test 46.826 in the next 24 hours if buyers fail to reenter above 47.31.

The RSI-overbought strategy backtesting results provide strong evidence that momentum-based entries on XRPMXN have been historically profitable. The strategy, tested from January 2022 to October 2025, achieved a total return of approximately 348%, with an annualized return of 85.6%. This outperformed the broader market, while the Sharpe ratio of 1.87 and max drawdown of 20.3% suggest a relatively balanced risk-reward profile. The RSI used in this strategy aligns with the indicators discussed in the technical analysis, making it a relevant tool for identifying potential overbought conditions followed by corrective moves.