- Ah, XRP, that fickle creature of the crypto realm, finds itself ensnared in the recent tempest of market correction, much like a hapless traveler caught in a rainstorm without an umbrella.
- But pray tell, is this merely a fleeting dip, or are we yet to witness the depths of despair?
Lo and behold, the crypto market is feeling the heat, shedding over 6% in total market value as the DeepSeek controversy sends tremors through the U.S. stock market, leaving investors clutching their pearls.
Even the mighty Ripple [XRP] is reeling, with double-digit losses that could make a grown man weep, millions evaporating like morning mist, and panic spreading faster than gossip in a small town. Having lost its precious $3 level, one must ponder: where shall XRP find its next refuge?
To buy the dip or to wait for the bottom? That is the question!
Just a week after Trump’s grand swearing-in, Bitcoin [BTC] has plummeted 9%, with bears pushing BTC below the illustrious $100K mark in a mere 24 hours. How delightful!
The remaining 140 hours saw BTC languishing between $100K and $105K, like a cat stuck in a tree, but now, it appears the market has finally chosen a path.
The altcoin market mirrored this descent, but Ripple took an even bigger hit, plunging 11% in a single day, now down 20% from its $3.40 peak, reached just three days before Trump’s return to the White House. Coincidence? I think not!
Interestingly, in both instances, XRP exhibited no signs of overheating. It was the broader market panic creeping in, dragging the altcoin down with it, much like a clumsy dancer stepping on toes. The result? A staggering 44.07% surge in long liquidations in just one day. Bravo!
While a 20% drop from its peak might seem like a golden opportunity, retail capital has yet to make its grand entrance. How rude!
XRP flows off Binance have remained as flat as a pancake, and it’s still 98.96% down from the New Year rally, when 2.8 billion XRP were whisked away.
That said, a staggering $4 billion worth of XRP has been gobbled up by whales since the U.S. election, signaling that the recent push past $3 was driven by aggressive accumulation. One must wonder: are these whales done feasting, or is a distribution phase lurking just around the corner?
XRP’s support hinges on the whims of big players
On its daily chart, since December, XRP has bounced back with the vigor of a spring lamb at the $2.30 — $2.40 range, with retail capital pouring in, making this level a crucial support zone. How charming!
But here’s the twist: Around 29.5 million XRP were transferred to Coinbase, perfectly aligning with the 11% dip. A conspiracy, perhaps?
With long-term Bitcoin holders cashing out after raking in billions from BTC’s jump from $68K to $109K, XRP’s whales might be eyeing the exit as well.
Read XRP’s Price Prediction 2025–2026, if you dare!
XRP has surged a staggering 608% since the election, and these whales are lounging comfortably on their massive profits. How delightful for them!
If the market-wide downturn persists, more HODLers could seek to protect their profits, possibly driving XRP as low as $2. What a rollercoaster ride!
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2025-01-28 02:18