XRP Holders Deserting Ship! 34% Gone – Will Wizards Save the Pump? 😈📉

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00-20:00, plunging 8% intraday from $2.44 to $2.29 before a modest recovery as the U.S. clock struck midnight. Classic tradecraft, if you ask me. 🌕

  • High-volume reversals above $2.31 waved a wand of strong spot desire and algorithmic alchemy buying into the fray. 🔮
  • Resistance lurks stubbornly near $2.47, where repeated rejection pokes signal unrelenting supply gremlins at the gate. 😤
  • The final hour (04:34-05:33) simmered at $2.35-$2.36 with 1.6M volume spikes – typical of those controlled re-accumulation rituals after the gods of forced unwinds throw a tantrum. 🚀

    • Technical Analysis

    • XRP‘s price tapestry is weaving stability within the $2.31-$2.47 maze, the $2.35 fulcrum as a whimsical anchor. Volume knots here point to institutional squirrels burying nuts despite the universal risk-off hangover. 🐿️
    • A bold reclaim of $2.47 would zap the near-term bearish bogeyman and pave the way to $2.55 – like vanquishing a lesser demon in the crypt! ⚔️
    • Momentum indicators hover neutral-to-oversold, while funding rates nudged positive – meaning short-covering has slowed, and we’re all just waiting for the macro fog to lift or ETF elves to start distributing goodies. Analysts foresee more bumpy broom rides until then. 😏

    What Traders Are Watching

    • $2.31-$2.35 support enchantment – where buyer wizards absorb the blows. 🛡️
    • $2.47 resistance reclaim – the first bell tolling for reversal fireworks! 🔔
    • Open interest and funding mellowing – signs that the flush is over and the re-leveraging feast begins. 🍽️
    • ETF timelines and Fed mumbo-jumbo as catalysts for Q4 crypto merry-go-rounds. Because who needs certainties when you’ve got oracles? 🔮😜

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    2025-10-17 10:14