Ripple Whales Sell 160 Million XRP: Is a Bullish Breakout Still Possible?

Key Takeaways

Why is XRP facing caution now?

Ah, the elusive dance of the whales! A mere 160 million XRP dumped in just two weeks, while the Stoch RSI at a sizzling 88.89 warns us all of the dreaded “overbought” conditions. A little volatility? A touch of retracement? How quaint!

What levels matter for XRP next?

Ah, Fibonacci! The sacred oracle of crypto. Targets set at $3.80 and $4.49, but don’t get too comfortable, for a retest near $3.00 could very well be the deciding factor in this drama.

One can’t help but notice the timely unloading of 160 million Ripple [XRP] by our aquatic friends, the whales. Such concentrated selling always spells trouble, doesn’t it? Increased volatility, liquidity stress – you name it. The market quivers with excitement.

Yet, history suggests that whale exits often herald a short-term correction, particularly when retail demand is no match for the supply flooding in. The very essence of market dynamics, one might say.

However, fear not, dear reader! Whale selling doesn’t always spell the end. No, no – often it’s simply profit-taking, not a bearish conspiracy. The real question remains: will this supply shakeout break momentum or pave the way for the next thrilling chapter?

Will XRP retest the handle before breaking higher?

Ah, the cup and handle! A chart pattern so elegant, it might as well wear a monocle and top hat. XRP’s price structure parades this delightful formation, and the handle breakout occurred as expected through a descending channel. Oh, but profit-taking rears its ugly head.

One might say that a retracement is inevitable. The market always loves a good backslide, doesn’t it? In this case, a retest of the handle’s upper boundary seems like the polite thing to do. Let’s check if it’s truly as supportive as it claims to be before we surge forward.

The Stoch RSI at a lofty 88.89 signals overbought conditions, which means the momentum is starting to cool, darling. A slight retreat toward that upper boundary might just be in order. If buyers defend this level, Fibonacci promises a glittering upside toward $3.80 and $4.49. If not, well… brace yourself for a delay in the bullish parade.

Futures volumes are cooling after the breakout

Ah, the quiet after the storm. XRP’s Futures Volume Bubble Map shows a cooling of trading activity, as if the market is taking a little nap after its initial breakout. Traders appear to be pausing – perhaps to count their profits or simply catch their breath.

Such cooling volumes, while dull, are often a sign that the market is consolidating, not reversing. No need to panic yet. The real question is whether the handle will hold as support or crumble under the weight of indecision. Should the boundary stay strong, we might just be on our way to higher ground.

If it doesn’t? Well, prolonged consolidation might delay XRP’s future rendezvous with Fibonacci’s promised land.

THIS reveals a cautious but balanced market

Ah, the OI-Weighted Funding Rates. A fine measure of market sentiment. At 0.0079% at press time, it reflects a rather balanced stance among leveraged traders. Neutral, dare I say, but a bit hesitant. Like a dance partner unsure of whether to take the lead or follow.

This cautious restraint helps avoid liquidations but also signals that traders are holding their cards close to their chests. A prudent strategy, one might add. But once that funding tilts in any direction, expect the market to follow with the grace of a gazelle or the speed of a cheetah – depending on the mood.

Is XRP’s correction a reset for bigger breakout?

Ah, a correction, that perennial savior of the markets! Whale selling has introduced just enough caution to spice things up, but fear not – the cup and handle formation stands tall, unshaken.

A retest of the upper boundary seems inevitable, and should it hold strong, we are in for a delightful continuation. Fibonacci’s projected levels of $3.80 and $4.49 are still very much in play, suggesting this correction is but a brief pause in an otherwise bullish journey.

2025-09-16 02:26