XRP Falls Flat: Fed Cuts Push Crypto Into a Nose Dive – Is $2.67 the Last Straw?

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XRP, poor dear, can’t seem to catch a break, lingering under $2.67 as Bitcoin joins the pity party, all thanks to the latest Fed rate cuts that sent the crypto market into a bit of a tailspin. A real thriller, isn’t it? 😒

Well, it seems XRP couldn’t quite manage to break through that pesky resistance around $2.67, and what do we have instead? A delightful nosedive to $2.59. The crowd goes wild… or not. Of course, Bitcoin decided to follow suit, tumbling right after the news that the Federal Reserve is cutting rates. It’s all one big happy family of downward spirals. 😅

The volume? Oh, it’s positively bursting-393 million tokens traded, up by a whopping 658%. Someone’s selling, that’s for sure. And it’s not just a little flurry; it’s a full-on storm of selling pressure. The breakout failed. How charming! 🥂

And speaking of things going down, the on-chain data tells a rather unflattering story. Big XRP holders are dumping like there’s no tomorrow. It’s almost as if they’re taking their profits and skipping off into the sunset. Meanwhile, futures are still playing high-stakes poker, with open interest sitting pretty at about $2.9 billion, roughly equivalent to the heights of early 2025. The drama never ends! 🎭

Resistance? Oh, It’s Still There, Just Waiting to Ruin Your Day

The $2.67-$2.69 zone has become the crypto equivalent of an impenetrable fortress, and it’s not budging. Support, on the other hand, is playing coy at $2.58, with the 200-day exponential moving average lurking nearby at $2.61, like a friendly reminder of how things could’ve been. 😒

Traders, here’s your cue: watch the $2.58 level carefully. If XRP dips below that, brace yourselves for more selling-because, darling, it’s going to get messy. But, if there’s a bounce? Perhaps we’ll get a hopeful, desperate attempt to revisit that resistance at $2.70-$3.00. Fingers crossed. 🙄

Thank You, Fed Cuts! You’ve Made This Market So Much More Fun

The downward spiral in Bitcoin, courtesy of the Fed’s charmingly unpredictable policy moves, has caused a ripple effect, and guess who’s feeling it? That’s right, our dear XRP. 🥳

With expectations of a 25-basis-point rate cut from the Fed, the crypto market-led by Bitcoin-decided it was time for a little self-reflection and correction. And, well, XRP didn’t exactly rise above it. The failure at resistance is just the cherry on top of this deliciously risky cake. 🍰

Momentum indicators? Oh, they’re practically screaming “bearish,” with RSI and MACD playing their sad little tunes. Even when prices try to nudge up, the momentum’s slipping. How charming. 😏

Sure, institutional interest is hanging around, but whale wallets are giving us all a little lesson in the art of profit-taking. Forget accumulation; it’s all about those sweet, sweet gains. 🐋💰

So, what’s next? Well, the coming days will be oh-so-critical. We’ll need to watch those on-chain flows, futures, and volume spikes. Will XRP just be taking a breather, or is this the beginning of a more dramatic fall from grace? Time will tell… ⏳

 

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2025-10-31 15:00