- Oh dear! XRP’s price has been bouncing around like a rubber ball in a room full of toddlers!
- And guess what? It might just tumble below the magical $2 mark in the weeks to come!
Once upon a time, in the land of XRP, the brave bulls had to defend the mystical $2 support level for the second time in a fortnight. And lo and behold, they emerged victorious! But wait! The higher timeframe swing structure has decided to play a little trick, shifting bearishly like a sneaky fox in the henhouse.
The on-chain metrics are flashing like a disco ball at a party, hinting at a bearish continuation on the charts. But fear not! The rise in XRP dominance and the growth in risk-adjusted returns mean that XRP still has a long-term bullish outlook—like a stubborn child refusing to eat their vegetables! 🥦
Decoding XRP’s Rapid Structure Shifts
In a dazzling shade of green, the bullish structure break on Sunday, 2 March, was highlighted. But oh dear, the red level showed the bearish structure flip as XRP plummeted below its most recent low. Zooming out, it seems our dear swing structure has a higher low at $2.05 (dotted orange)—a bit like finding a penny in the couch cushions!
If the daily session closes below this level, it’s a gloomy day for the swing structure and sub-structure, likely leading to further XRP losses. Keep your eyes peeled for the 61.8% and 78.6% retracement levels at $2.58 and $2.76—those are the key resistances to watch like a hawk! 🦅
Meanwhile, the technical indicators are throwing a mixed bag of results. The DMI is reflecting a bearish trend, with the -DI (red) and ADX (yellow) above 20, like a grumpy cat refusing to play. The Awesome Oscillator is below zero, highlighting downward momentum—oh, the drama!
But wait! The CMF is at +0.08, meaning capital inflows are significant, and buying pressure is present—like a surprise party for your best friend! 🎉
The 1-month liquidation heatmap revealed that the $2.36 zone had been a notable liquidity cluster. XRP didn’t see a bearish reversal there, which is a bit like finding a unicorn in your backyard! 🦄 In the coming days, the $2.5-$2.55 and $2.7 regions will be the next magnetic zones for the price, drawing it in like a moth to a flame.
They seem to line up well with the Fibonacci retracement levels highlighted previously. So, in the coming days, traders can expect a price bounce towards $2.7-$2.8, which will likely be met with a bearish reversal in the weeks ahead. The rapid structure shifts over the past month serve as a warning about potential XRP volatility—like a rollercoaster ride you didn’t sign up for!
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2025-03-15 20:09