- In a twist of fate, XRP‘s price catapulted from $2.00 to a staggering $2.93 after Trump’s announcement, with trading volume hitting a jaw-dropping 19.1 billion XRP. Who knew politics could be so profitable? 😂
- A whale, perhaps feeling a bit too fishy, closed a short position and threw in 8M USDC in margin to dodge liquidation, signaling a dramatic shift in market sentiment. Talk about a last-minute save! 🐋💸
On the fateful day of March 2nd, Ripple [XRP] experienced a meteoric rise, all thanks to an unexpected proclamation from President Donald Trump. The U.S. government unveiled plans to create a crypto reserve, with XRP poised to play a starring role. Who would have thought that a government announcement could send prices soaring?
This revelation ignited an immediate bullish frenzy, propelling XRP to heights not seen in months. Traders, like moths to a flame, flocked to the market, eager to ride the wave of optimism.
As the price reached a critical juncture, traders held their breath, wondering if the bullish momentum would persist or if it was merely a fleeting mirage.
XRP’s price reaction to Trump’s Crypto Reserve plan
In the wake of the announcement, XRP’s price surged dramatically, leaping from $2.00 to over $2.93 in a single trading session, before taking a moment to catch its breath. A 29% increase in just one session? Now that’s what I call a rollercoaster ride! 🎢
The 12-hour price chart resembled a heart monitor, reflecting the massive volatility and heightened buying pressure. It was a sight to behold!
As I pen these words, XRP trades at $2.81, a modest 4.27% pullback from its peak. Yet, it remains comfortably above previous resistance levels, hinting at the possibility of further gains if the momentum holds. Fingers crossed! 🤞
Where can XRP go next?
A meticulous examination of Fibonacci retracement and extension levels reveals potential price targets. The chart indicates that XRP has successfully breached significant resistance near $2.50, which now serves as a sturdy support.
If the bullish trend continues, the next psychological milestone is $3.00. A close above this level could unleash another wave of buying. Can you hear the cash registers ringing? 💵
The 1.618 Fibonacci extension level at $3.38 marks another critical zone for price discovery. If the momentum remains robust, $3.83 could become the next battleground, where profit-taking may intensify. Hold onto your hats, folks!
Should a retracement occur, the $2.50–$2.60 range stands as a crucial support zone. A deeper correction could send XRP tumbling toward $2.15, where eager buyers may emerge like hungry sharks. 🦈
Trading volume, whale activity: Bullish or cautious?
The trading volume chart confirmed a historic spike in XRP activity following Trump’s announcement. Volume surged to over 19.1 billion XRP, signaling immense buying interest. It seems the market is drinking the Kool-Aid with gusto! 🍹
This level of trading activity suggests that the market is absorbing the news with conviction, increasing the chances of continued price appreciation. Cheers to that!
Large-scale whale movements further emphasize the market shift. A major trader, perhaps feeling a bit too confident, closed their short position and injected 8M USDC in margin to avoid liquidation. Talk about a dramatic turnaround!
Is XRP set for more gains?
XRP’s explosive rally following the U.S. crypto reserve announcement has reignited interest in the asset. The sharp
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2025-03-03 17:15