Is XRP About to Take a Nose Dive? Bears Say Yes! 🐻💸

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  • XRP has officially broken up with its ascending triangle price action pattern and its $2.50 support. It’s not you, it’s me. 😢
  • XRP traders were over-leveraged at $2.40 on the lower side and $2.55 on the upper side. Talk about living on the edge! 🎢

So, Ripple (XRP) is doing that thing where it shifts from being the life of the party to the wallflower, all thanks to the market’s ongoing existential crisis. 🥴

As of now, with a 5% price drop, it’s like XRP just got dumped and is now crying in the corner. It has breached its long-term support and is gearing up for a dramatic price plunge. 🎭

XRP’s Technical Analysis and Price Prediction

According to AMBCrypto’s technical analysis, XRP decided to go all emo on the four-hour timeframe after breaking down from its ascending triangle pattern. Classic! 🙄

This breakdown led to a breach of the all-important $2.50 support level. It’s like the universe is saying, “Hey XRP, maybe it’s time to rethink your life choices.”

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If the asset closes a four-hour candle below the $2.50 mark, we might be looking at a 13% drop to the $2.10 level. Buckle up, folks! 🎢

Meanwhile, XRP’s Average Directional Index (ADX) is sitting at a cozy 20, indicating weak strength. It’s like the little engine that couldn’t. 🚂💨

Current Price Momentum

At press time, XRP was trading near $2.45, having dropped over 5% in the past 24 hours. But wait, there’s more! Its trading volume surged by 70%. 📈

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This surge means more traders and investors are joining the party, but let’s be real—a rise in trading volume doesn’t always mean good vibes. It’s like a party where everyone’s either liquidating positions or dumping tokens. 🎉💩

On-Chain Metrics Mixed Sentiment

Looking at the current market sentiment, it seems investors and long-term holders are hoarding XRP like it’s the last slice of pizza at a party, according to the on-chain analytics firm Coinglass. 🍕

Data from Spot Inflow/Outflow showed an outflow of over $13.65 million worth of XRP tokens in the past 24 hours. That’s a lot of pizza! 🍕💸

However, the prevailing market sentiment suggests that this may not be enough to trigger a significant XRP rally. Sorry, XRP, but it looks like you’re still on the bench. 🥴

XRP Traders’ Over-Leveraged Positions

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Besides the bullish outlook from long-term holders, the major liquidation levels, at press time, were $2.40 on the lower side and $2.55 on the upper side. Talk about a tightrope walk! 🎪

Traders were over-leveraged at these levels, as revealed by Coinglass data. It’s like they’re playing poker with their life savings! 🃏

If market sentiment remains unchanged and the price drops below $2.40, nearly $35.50 million worth of long positions will be liquidated. Conversely, if sentiment shifts and the price rises to $2.55, over $40 million worth of short positions will be liquidated. It’s a real nail-biter! 😱

These on-chain metrics and technical analysis show that bears currently dominate the market. This dominance could push XRP lower in the coming days. Hold onto your hats, folks! 🎩

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2025-02-25 06:20