Whales Flee Like It’s a Bad Horror Movie! XRP Price Plummets!

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Well, folks, grab your popcorn because the cryptocurrency market is scarier than a Mel Brooks horror flick! Altcoins like Ripple (XRP) are taking a nosedive faster than a lead balloon! 🎈💥 XRP has dropped over 20% this week alone! And guess what? The whales are selling off more than 90 million XRP tokens like they just found out the price of admission! Will Ripple’s price plummet to $1.50? Stay tuned! 🎭

XRP Price Faces Bearish Pressure as Whales Sell 90M Tokens

Today, Ripple is trading at a whopping $2.04 after a jaw-dropping 10% drop in just 24 hours! In the last week, XRP has lost nearly $40 billion in market cap! That’s like losing your wallet at a casino! 🎰💸 And those big fish that usually buy the dip? They’re selling like it’s a clearance sale! 🏷️

According to our friends at Santiment, in the last 24 hours, addresses holding between 10M and 100M XRP have sold 70M tokens! And those with 100K to 1M XRP? They’ve been gradually selling off 20M tokens this week! Talk about a fire sale! 🔥

Whales are hesitating to buy the dip, which suggests they think the price recovery is about as likely as a sequel to “Spaceballs”! 🚀

Will Ripple Drop to $1.50?

XRP has breached the lower trendline of its descending parallel channel, and the broader crypto market crash has caused panic selling! This bearish breakout is like a bad punchline that just keeps getting worse! 😱 Bears are tightening their grip on XRP, and we might see a drop to support at $1.77. If that goes, we could be looking at a drop below $1.50 to $1.39! Yikes! 🐻

Meanwhile, the MACD indicator is showing strong bearish momentum, with a negative MACD line and red histogram bars. It’s like a bad omen! 📉

Ripple’s RSI has hit oversold levels. Normally, that suggests a recovery, but with whales not buying and market sentiment gloomier than a rainy day, XRP might just sit at the bottom of the barrel before any rebound! 🥴

But hey, even during bear markets, some altcoins manage to pull off a short relief rally! Will Ripple be the one to do it? Stay tuned for the next episode! 🎬

Can XRP Price Recover?

While the outlook is gloomier than a Mel Brooks comedy without jokes, XRP still has a chance to recover! Macro factors like progress in the SEC vs. Ripple case could trigger a trend reversal. But recovery depends on the price falling back to a demand zone where buyers will actually want to accumulate! 🤔

Analyst VipRoseTr identifies this support zone at $1.25, where traders might start buying again to support a strong bullish reversal past $3 to an all-time high of $4.22! Now that’s a plot twist! 🎉

However, for XRP to make a strong comeback, the broader market sentiment needs to shift to positive! The altcoin needs to attract some whale attention and large players! It’s like trying to get a date on prom night! 🕺💃

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2025-03-01 01:03