XRP to $20?! Shorts REKT! 🚀

by

Ah, the digital realm! Such passions, such follies! 😜 This week began as a tempest for XRP, our humble token plunging into the depths near $1.64, a veritable abyss for the hopeful investor. But lo, like a phoenix (or perhaps a less mythical, more cryptographic bird), it has risen! Thursday saw XRP clinging to the $2 mark, a 9% surge, a veritable dance of joy for the bulls, a dirge for the bears. Oh, the drama!

And what, pray tell, sparked this revival? Why, none other than the capricious winds of political decree! Trump, in a twist worthy of a Shakespearian comedy, has reconsidered his newly forged tariffs. A mere pause, a 90-day reprieve, a slashing of duties to a paltry 10% for those nations not daring to retaliate. China, however, feels the full force of 125% tariffs—a number that would make even the most seasoned merchant weep. Yet, this partial rollback, a mere crumb of comfort, was enough to send global markets into a frenzy. The S&P 500, that venerable barometer of capitalist fervor, spiked by 9.5%. Bitcoin, the granddaddy of digital coins, and XRP, its more youthful cousin, followed suit, like dutiful children trailing behind their elder.

Short Sellers Caught Off Guard

Imagine, if you will, the plight of the short sellers! Those who dared to bet against the XRP tide, now swept away in a sea of red! A staggering $18 million in short positions liquidated within a mere 24 hours, a financial bloodbath of digital proportions! 😱 Total liquidations, a grand total of $24.16 million, a testament to the volatile nature of this beast we call cryptocurrency. These forced exits, these cries of despair, have injected fresh momentum into the market, a clear sign that the bulls, those optimistic souls, are wresting control from the claws of the bears. Or so it seems. Perhaps it’s just the calm before another storm. 🤷

The derivatives market, that murky swamp of financial instruments, sings a similar tune. Open interest in XRP has swelled by 6.68% to a hefty $3.05 billion, while options volume has leaped by 21.36% to $7,670. A surge in open interest, we are told, signals an influx of new capital, a growing engagement among traders—a potential prelude to sustained upward movement. Huzzah! Or perhaps, just perhaps, it’s a greater fool arriving at the party. 🤔

“The price recovery from $1.61 to above $2 makes XRP increasingly attractive to long-position traders,” declared a Coinglass analyst, a seer gazing into the crystal ball of finance. “We’re now watching closely for confirmation signals like MACD crossover and volume support.” Oh, those mystical incantations! MACD crossover! Volume support! Surely, the gods of finance are appeased! 😂

Buy Signal Flashes as MVRV Turns Negative

The on-chain metrics, those digital entrails read by modern-day soothsayers, echo the technical optimism. According to Santiment, XRP’s Market Value to Realized Value (MVRV) ratio remains nearly 9.5% below the mean, a historical buy signal. This negative MVRV, we are told, suggests that most XRP holders are currently underwater, a sea of despairing faces staring up at the distant shore. This, paradoxically, reduces the likelihood of near-term selling pressure, supporting a potential rebound. Such is the twisted logic of the market!

“Whenever MVRV dips below zero, it implies undervaluation,” intone the analysts from Santiment, as if whispering ancient secrets. “This is when smart money typically accumulates.” Ah, smart money! Those elusive creatures who always seem to know the precise moment to buy low and sell high. If only we could all be so wise. 😇

Yet, our digital Lazarus’ recovery is not without its thorns. Daily active addresses have plummeted—from 581,000 in mid-March to a paltry 10,000 this week. A decrease in network activity, a dwindling crowd at the digital marketplace, may point to reduced organic demand, potentially dampening momentum unless usage picks up. A ghost town, perhaps? 👻

Macro Tailwinds: Fed Rate Cuts and Trade Policy

Beyond the charts and metrics, the grand stage of macroeconomic factors increasingly influences the XRP price outlook. With the Federal Reserve facing mounting pressure to cut interest rates, those machinations of central bankers, traders are betting on a more liquidity-rich environment. Historically, rate cuts have been bullish for cryptocurrencies, like a sudden downpour on a parched field.

//bravenewcoin.com/wp-content/uploads/2025/04/Bnc-Apr-10-11.jpg”/>

“Wave 3 is typically the strongest and most explosive in the Elliot Wave sequence,” declares the analyst, a prophet foretelling the future. “Assuming fundamentals hold, we could see a tenfold increase in market cap.” A tenfold increase! Imagine the riches! But, of course, assuming fundamentals hold… a rather large assumption, wouldn’t you agree? 😉

Wave 4, we are told, could bring a retracement to $7 before a final surge to $30 concludes the cycle. Though this long-term vision may take years to play out, a mere blink of an eye in the grand scheme of things, it provides a roadmap for high-conviction investors navigating short-term volatility. A roadmap, perhaps, or merely a mirage in the desert. 🤔

Short-Term Targets: $2.41 and $2.60 Within Reach

In the near term, XRP’s price action is focused on reclaiming and holding above key resistance levels. The range between $2.11 and $2.60 has emerged as a value zone based on recent trading volumes. If bulls can maintain momentum above $2.11, a rally toward $2.41 and even $2.60 is likely. A rejection, however, could lead to a dip toward $1.47—aligning with the sub-$1 buy zone predicted in Elliot Wave models. A battle of wills, a tug-of-war between hope and despair!

While some analysts remain cautious due to macro uncertainties like the ongoing XRP lawsuit and Ripple SEC legal saga, a legal drama that could rival the most convoluted of Russian novels, others see the current condition as a bullish continuation. Such is the divided nature of opinion, the eternal clash between optimism and pessimism!

Looking Forward: XRP Price to Hit $5 and Beyond?

Between strong technical support, surging derivatives activity, and macroeconomic tailwinds, XRP is poised for a potentially explosive move. The immediate challenge lies in holding above $2 and breaking through resistance zones. If accomplished, XRP could eye a push toward $5 in the coming months—setting the stage for an even more ambitious climb toward $20, as projected by Elliot Wave theory. A grand vision, indeed! 🤩

With geopolitical tensions, Fed policy shifts, and the Ripple lawsuit developments all looming, XRP’s price trajectory may not be linear—but it certainly isn’t short of catalysts. As the Ripple ecosystem matures and institutional interest grows, XRP could soon play a much larger role in both the Ripple currency price landscape and the broader Ripple market. A future filled with promise, or perhaps, just perhaps, a grand illusion. Only time will tell. ⏳

Read More

2025-04-10 18:24