Is $11M Enough to Save XRP? Spoiler: Probably Not! 😂💸

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  • Hold onto your wallets, folks! Bullish patterns and millions in XRP acquisitions might just kickstart a market rally. Or not. 🤷‍♀️
  • But wait! Other key on-chain metrics are throwing a wet blanket on this party, causing a delay in the rally. Thanks, metrics! 🙄

So, XRP has been about as decisive as a cat at a dog park in the last 24 hours, dropping a thrilling 0.74% on the charts. But hey, at least it’s flashing a clear path to recovery—like a neon sign in a blackout! 💡

Still, the larger market sentiment is like that one friend who always says, “I’m on a diet” while holding a donut. 🍩

Bullish pattern and liquidity inflows

At press time, XRP’s price is forming an inverted head and shoulders pattern. No, it’s not a new yoga pose; it’s a sign that a major rally could be on the horizon! 🌅

This pattern, now emerging on the altcoin’s 4-hour timeframe, could send the asset soaring up to $2.5—last seen on March 24, when we were all still pretending we understood NFTs. 🎨

Options traders are feeling the bullish vibes too, with volume surging by 256% in the last 24 hours. That’s right, folks! It’s like a Black Friday sale, but for crypto! 🛒

Spot market traders are also getting in on the action, purchasing $11 million worth of XRP and moving it into private wallets. Because who doesn’t love a little mystery? 🕵️‍♂️

When big acquisitions are followed by transfers to private wallets, it shows investors are serious. If this keeps up, we might see a supply squeeze. Or just a lot of confused investors. 🤔

But hold your horses! While the charts are looking bullish, the low on-chain activity is like a rain cloud over this sunny forecast. ☁️

Drop in on-chain activity could slow down XRP

Despite the bullish presence, a drop in key on-chain metrics—like executed transaction count and active accounts—might just put the brakes on this rally. It’s like trying to run a marathon with a sprained ankle. 🏃‍♀️💨

The executed transaction count plummeted from 1.56 million to 660,000 in the last 24 hours. Ouch! That’s fewer transactions than a coffee shop on a Monday morning. ☕

Active accounts, especially senders, have also taken a nosedive—from a high of 20,700 to 8,500. It’s like a party where everyone left before the cake was served. 🎂

If these metrics keep falling without a significant uptick in activity, XRP’s move to the upside will be about as likely as finding a unicorn in your backyard. 🦄

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2025-04-19 09:16