Well, shucks, folks! It seems like XRP‘s been tryin’ to bust through that $2.5 resistance for nigh on four times now, but it’s like tryin’ to get a mule to do tricks – just ain’t happenin’! 🐴
Now, I know some of y’all might be thinkin’, “Aww, shucks, Mark! What’s the big deal ’bout $2.5?” Well, let me tell you, friends, that’s like askin’ what’s the big deal ’bout the Mississippi River – it’s a mighty big deal, that’s what! 🌊
- The $2.5 resistance has been like a big ol’ wall, keepin’ XRP bulls from gettin’ to the promised land
- A move to $2.26 was possible, but further losses would be like tryin’ to navigate a steamboat through treacherous waters – not a pretty sight
I recall doin’ some analyzin’ a spell ago, and it seemed like a 27% price rally for Ripple [XRP] was about as likely as a cat doin’ tricks for treats – just ain’t gonna happen! 🐈
Them on-chain metrics showed whales were sellin’ like there was no tomorrow, and the price action of XRP/BTC meant a consolidation was more likely than a cat takin’ a bath – it just didn’t seem like it was gonna happen! 🐈
But, as the days went by, XRP just kept on truckin’, tradin’ within a short-term range like a farmer plowin’ a field – just gettin’ the job done! 🌾
XRP bulls got one thing goin’ for ’em, though – they’re like a dog with a bone, and they just won’t give up!
The tradin’ volume over the past few months showed higher overall buyin’ pressure, like a big ol’ wave crashin’ on the shore! 🌊
And despite losin’ that $2.95 former range low, and the bearish structure on the daily chart, there’s still hope for recovery, like a phoenix risin’ from the ashes! 🦜
The RSI was below neutral 50, and XRP’s been testin’ that $2.5 resistance zone like a kid tryin’ to get the last cookie from the jar – four times, to be exact! 🍪
Takin’ a gander at the H4 chart, I saw a range formation between $2.3 and $2.5, like a farmer’s fence keepin’ the cattle in line! 🐮
The tradin’ volume was low, like a lazy summer day, and the OBV was in a slight downtrend, like a slow-movin’ stream! 🌊
The liquidation heatmap was like a big ol’ map, showin’ us where the important places were, like a treasure map! 🏴☠️
Swing traders can use this info to their advantage, like a sly fox sneakin’ up on its prey! 🦊
The longer-term outlook was bullish, like a big ol’ smile on a sunny day! ☀️
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2025-02-13 00:10