- Whale support saves XRP twice post-election, but is it enough to prevent a catastrophic fall?
- Will the $2 support level finally break under the pressure? 🤔
Oh, hello! So, Ripple [XRP] took quite a tumble recently, plunging to $2.10 and experiencing an 8.06% single-day drop – one of the steepest among high-cap assets. Talk about a rough ride! 🎢
After the election, XRP dipped below $2 twice, landing in the $1.95-$1.98 range. But guess what? It triggered significant rallies of 71% and 53%. Not bad, right? 🎉
But here’s the thing: these rallies weren’t just random occurrences. They were fueled by whale wallets pouring billions into the XRP Ledger. Every time XRP dipped, institutional inflows surged. 🐳💰
Now, as Ripple revisits this critical support zone, we can’t help but wonder: will history repeat itself, or is this the end of the road for XRP? 🏁
The $2 Support Level: Hanging by a Thread?
A market strategist recently sounded the alarm, warning that if XRP breaks below $2, it could spell disaster. AMBCrypto decided to investigate further, because, you know, FOMO. 😬
Turns out, retail-driven FOMO, a key liquidity driver, has been MIA since the election rally. Binance outflows, which once soared to 12 billion XRP, have now plummeted to 115 million. 📉
During XRP’s two previous dips below $2, outflows dropped to a mere 10 million XRP. Looks like small retail investors weren’t too keen on buying the dip. 🙅♂️
And it’s not just retail investors who are backing away. Futures traders are also losing interest. XRP’s Open Interest (OI) has taken a nosedive, falling 6.38% to $3.17 billion. That’s a far cry from the $7.80 billion OI peak during its mid-January rally. 😱
With dwindling liquidity and fading FOMO, reclaiming $3 seems like a pipe dream. And that $2 support level? It’s looking pretty shaky. 🙈
Is XRP Losing Its Grip on the Market?
Just when we thought XRP was in the clear, the market had other plans. After the backlash over potential inclusion in the Strategic Reserve, Ripple took a nosedive, dropping 18.79% in a single day. Ouch! 🤕
While XRP was the top-performing high-cap asset by YTD growth in 2024, a repeat rally in 2025 is anyone’s guess. 🤷♀️
It’s now up to the major holders to defend the $2 level. Their accumulation has kept it afloat so far, but how much longer can they hold on? 🤚
With rising volatility, retail demand dwindling, and futures liquidity drying up, the $2 support level is feeling the heat. Major holders, it’s time to step up your game and save the day! 🦸♂️
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2025-03-10 22:19