- In a tale of woe, XRP tumbled 7.9% in mere days, as if a grand drama of the market’s whims was unfolding before our eyes.
- The lack of fervent selling suggests a phoenix might yet rise from the ashes, should the fickle winds of market sentiment shift.
In the cryptic theater of late, XRP has been a star, with on-chain activity as lively as a Moscow square. Yet, a report emerges, as if whispered from the shadows, that the NUPL mirrors the halcyon days of 2021. Investors, it seems, have much to ponder in the dim light of their screens.
Bitcoin, the enigmatic patriarch, casts a long shadow over the crypto realm, and a bearish economic forecast has everyone scurrying for cover. Even XRP’s derivatives market succumbed to negative funding rates, as if the shorts have become the new nobility in this digital court.
The Bulls’ Quixotic Quest at the $2.45 Citadel
On the grand tapestry of the 1-day timeframe, XRP’s descent painted a somber picture. The Fibonacci levels, like a cryptic code, pointed to $2.45 as the 50% retracement level from the earlier rejection at $3.
Alas, the bulls, valiant in their charge, could not breach the walls of the $2.45 citadel. As of this writing, the price lies 7.9% below Saturday’s $2.47 peak, a shadow of its former self. The moving averages, like sentinels, signal a bearish march, and the 20 DMA stands as a recent barrier to XRP’s upward dreams.
Yet, amidst this two-month downtrend, the CMF has clung to positivity, like a stubborn optimist in a sea of pessimists. At +0.06, it hints at robust capital inflows, suggesting that the selling is but a faint breeze. A BTC revival might just be the gust needed to lift XRP from its doldrums.
The liquidation heatmap, like a diviner’s map, reveals two zones of destiny at $2.2 and $2.37. Equal in size and allure, they beckon the price towards them. The stars, it seems, may align for a move to $2.2 in the coming days.
In the grand chess game of trading, one must be prepared for more losses until the BTC’s course alters. Should the price dip to $2.2, the bulls may seize the moment, aiming for the $2.4-$2.45 resistance like knights charging towards a castle.
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2025-03-19 10:18