Onyxcoin (XCN) lost over 50% in February after a massive rally of nearly 2,000% between January 13 and January 26. Despite the ongoing decline, its recent indicators show mixed signals. RSI has stayed neutral for the past nine days, and ADX is pointing to a weakening downtrend.

XCN is currently trading between resistance at $0.017 and support at $0.0143, with EMA lines still reflecting a bearish trend. Whether the price moves higher or lower will depend on whether momentum returns or if selling pressure continues to push XCN toward lower support levels.

XCN RSI Has Been Neutral For 9 Days

Onyxcoin has an RSI of 43.2, down from its recent high of 68.9 on March 2.

Since yesterday, it has been fluctuating between 45 and 46, maintaining a neutral position without clear upward or downward momentum.

RSI, or the Relative Strength Index, is a momentum indicator that measures the speed and magnitude of price movements on a scale from 0 to 100.

Readings above 70 indicate overbought conditions, suggesting a potential pullback, while readings below 30 signal oversold conditions, which could precede a rebound.

With XCN’s RSI at 43.2, the asset remains in neutral territory, where it has been since February 25.

A move above 50 could indicate growing bullish momentum, while a drop toward 30 may signal increasing selling pressure.

Onyxcoin ADX Shows the Downtrend Is Losing Steam

XCN’s ADX is 16.8, down from 36.6 three days ago, indicating a steady decline in trend strength. This drop suggests weakening momentum, aligning with XCN’s recent downtrend over the past few days.

The Average Directional Index (ADX) measures the strength of a trend on a scale from 0 to 100.

Readings above 25 typically indicate a strong trend, while values below 20 suggest weak or nonexistent trend momentum. With XCN’s ADX at 16.8, the current downtrend lacks strong conviction, meaning further downside may be limited unless momentum picks up again.

If ADX continues to decline, XCN could move into a consolidation phase rather than a sustained downward move.

Onyxcoin Could Fall Below $0.014 Soon

After a historical surge in January, when XCN was one of the best-performing altcoins in the market, Onyxcoin’s price is now trading between resistance at $0.017 and support at $0.0143. Its EMA lines show a bearish trend as short-term EMAs remain below long-term ones.

If the ongoing downtrend continues, XCN could test the $0.0143 support level, and a break below that could push the price further down to $0.0134.

However, ADX indicates that the downtrend is weakening, which could open the door for a reversal.

If buying momentum returns, Onyxcoin could test resistance at $0.017, and a breakout above that level could send the price toward $0.022. A stronger recovery, similar to its momentum in January, could push XCN as high as $0.0264.

XRP is up more than 7% in the last 24 hours, bringing its market cap near $150 billion. The crypto community is now debating how its inclusion in the US crypto strategic reserve will impact its long-term price action.

Attention is also on the upcoming White House Crypto Summit on March 7, which could play a key role in shaping market sentiment. Whether XRP continues its rally or faces new resistance will depend on these developments and whether technical indicators confirm a sustained uptrend.

XRP DMI Shows Buyers Are Still In Control

XRP’s DMI shows that its ADX is currently at 18.49, down from 36.2 four days ago, indicating that the strength of its trend has weakened significantly.

The +DI (positive directional index) is at 25.1, down from 50, while the -DI (negative directional index) has risen to 14.4 from 9.3.

This shift suggests that bullish momentum has faded while selling pressure has slightly increased, making it harder for XRP to establish a strong uptrend.

The Average Directional Index (ADX) measures trend strength on a scale from 0 to 100, with readings above 25 signaling a strong trend and values below 20 indicating weak or nonexistent momentum.

XRP’s ADX at 18.49 suggests that its current attempt to form an uptrend lacks strength. The declining +DI shows buyers could be losing control, while the rising -DI indicates sellers are gaining ground.

If this trend continues, XRP may struggle to sustain an upward move, but if ADX picks up again and +DI rebounds, bullish momentum could return.

XRP Active Addresses Just Hit A New All-Time High

XRP’s 7-day active addresses have surged to 1.16 million, marking their highest level ever.

This sharp increase comes after the metric stood at just 236,000 on February 27, indicating a significant rise in network activity over the past few days.

Tracking active addresses is important because it reflects user engagement, transaction activity, and overall demand for a cryptocurrency.

A rising number of active addresses often signals increased adoption and interest, which can support price growth. Despite the crypto community questioning whether XRP should be included in the US crypto strategic reserve, this spike in activity suggests strong network participation.

If this trend continues, it could help sustain bullish momentum for XRP, potentially driving prices higher.

Will A Golden Cross Make XRP Surge Soon?

XRP’s EMA lines indicate that a golden cross could form soon, as short-term moving averages continue to rise. If this bullish signal materializes, XRP price could test resistance at $2.74, with a breakout potentially sending the price to $2.99 and even $3.15.

However, this will depend on key developments, including the next steps regarding the US crypto strategic reserve and potential announcements at the White House Crypto Summit on March 7.

Tracy Jin, COO of MEXC, told BeInCrypto:

“The approach to establishing strategic reserves is contentious and may require either an executive order or Congressional authorization, potentially undermining long-term policy stability. While Trump’s initiatives are expected to boost market confidence and attract institutional investments in the short term, uncertainties remain over policy effectiveness, Congressional support, and international market reactions in the medium to long term. Investors should monitor these developments closely and adjust their strategies accordingly.”

On the other hand, if it fails to build an uptrend and selling pressure increases, it could test support at $2.50, with a further drop potentially pushing it to $2.33.

A stronger downtrend could drive prices to $2.06 or even below $2, testing $1.95.

Earlier today, RedStone amended the terms of its RED token airdrop without warning, causing Binance to suspend its listing. This caused the price to crash dramatically amidst community feedback, but the project soon responded.

Now, an extra 2% of RED tokens are being airdropped today, and Binance is listing them as normal. The price has rebounded, but community resentment may linger all the same.

RedStone Airdrop Concerns and Binance Listing

RedStone, a DeFi oracle project, has run into some difficulties with its RED token airdrop. Over the past few months, the project became increasingly popular among the crypto community, and received support from leaders in Liquid Staking.

RedStone’s native token RED launched today, and Binance was supposed to list it on launch time.

However, the project claimed at the last minute that the airdrop would be smaller than usual, and Binance refused to list the token.

“Due to unexpected and last minute changes by RedStone to the allocation of their community airdrop distribution, the trading start time for RED will be suspended until further notice. RedStone had originally committed to distribute 9.5% of their total supply to the community via airdrop distribution. The project has now lowered this amount to 5% of the total supply,” it read.

Naturally, RedStone’s announcement caused a huge controversy within the community, which was only compounded by Binance.

Binance is the world’s largest crypto exchange, and its listings have consistently led to huge price spikes for the relevant tokens. For a time, this decision looked like a huge fiasco, leading RedStone supporters to speak out:

“The RedStone airdrop situation is a mess. It looks like 95% of users received nothing, despite years of activity— people who spent 1-2+ years engaging with the project were completely ineligible. I’ve never seen a precedent like this. Every launch like this reinforces [that] there is no real transparency in airdrops, and every mistake like this damages the brand,” one user said.

However, after Binance announced the suspension, RedStone addressed the controversy. The firm responded to community feedback, amending its airdrop plan once again.

5% of RED tokens have already been distributed, and the missing 4.5% will be distributed six months after TGE. Today, 2% will be airdropped on top of that.

Following the amendment, Binance reversed its decision and RED rallied back up, reversing previous losses.

According to data from both CoinGecko and CoinMarketCap, RED launched at $0.80 today. While it briefly went up to $0.98 after Binance’s re-listing announcement, it’s yet to hit the dollar mark.

Overall, RedStone’s reputation may suffer as a result of this incident, even though it acted quickly to correct the problem.