Is XRP on the Brink of Glory or Just Another Crypto Comedy? 😂

Latest news on XRP Ripple: Ah, dear reader, the tale of XRP unfolds once more, as it dances above the $2 mark, igniting a flicker of hope in the hearts of investors. Analysts, those ever-optimistic seers, whisper sweet nothings about the potential for XRP to join the elite ranks of cryptocurrencies blessed with a spot ETF approval in the U.S., right after the illustrious Bitcoin and Ethereum. Yet, amidst this long-term optimism, the short-term sentiment among traders resembles a cautious cat, tiptoeing around a puddle of uncertainty.

What’s Next For XRP Price?

But lo! The excitement is but a façade, for the options data tells a different story. On Deribit, the grand bazaar of crypto options, traders seem to prefer the allure of put options—those delightful instruments used to hedge against or profit from falling prices. In layman’s terms, it appears that many are wagering on XRP taking a nosedive rather than soaring to the heavens.

This sentiment is further corroborated by what the wise call a “negative options skew.” A curious term, indeed! It indicates that the demand for puts surpasses that for calls across various timeframes, signaling that traders remain jittery about XRP’s immediate prospects, even as ETF discussions swirl like autumn leaves in the wind.

And what of XRP’s price chart, you ask? Alas, it does little to soothe the anxious souls. The coin has recently slipped from an ascending wedge—a technical pattern that often heralds a weakening uptrend. Consequently, some analysts, with furrowed brows, predict that XRP may revisit the depths of $1.6, unless a wave of bullish sentiment sweeps in like a refreshing spring breeze.

XRP ETF News: Stability from Strong Order Book

Yet, not all is shrouded in gloom. A glimmer of positivity shines through the clouds: XRP boasts a robust order book depth. Unlike its more volatile counterparts, such as Solana, XRP can accommodate large trades without sending prices into a tailspin—a trait that regulators might find rather appealing when pondering ETF readiness.

This liquidity advantage is a key reason XRP remains a topic of discussion in ETF circles. Ripple, the entity behind XRP, continues to tout it as a global payments solution—a practical application that many of its altcoin brethren sorely lack.

• Also Read:
• XRP Beats Ethereum for 6 Months Straight – Will XRP Become Next Largest Altcoin?
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Will XRP Price Hit ATH?

While the optimism surrounding the ETF provides XRP enthusiasts with a glimmer of hope, short-term traders appear to be playing it safe, like a cautious squirrel hoarding nuts for winter. Until the market reveals clearer signs of upward momentum or regulatory progress, the price may remain under pressure, much like a balloon tethered to the ground.

On the flip side, the astute crypto analyst EGRAG CRYPTO posits that this week could be a pivotal moment for XRP’s trajectory. He notes that XRP’s weekly candle is perched above the crucial $2.10 level and the 21-week EMA—a sign that could be interpreted as a positive omen.

However, the true magic number, he asserts, is $2.25. Should XRP manage to close the week with a solid candle above this threshold, it could signify a bullish trend reversal, suggesting that the bottom reached on April 7 was indeed a turning point.

EGRAG regards $2.25 as more than mere resistance; he dubs it the “lock-in” point for the uptrend. The closing of this week’s candle may very well determine the path XRP shall tread next. For now, it finds itself ensnared between the lofty aspirations of long-term hope and the trepidation of short-term fears.

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2025-04-18 08:41