XRP to Plunge?! 😱

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In Brief, For Those Bereft of Patience (TL;DR):

  • Ripple‘s digital bauble, XRP, once dared to kiss the heavens at $2.45, only to be flung back to earth with the force of a scorned lover. Now, it teeters precariously above a support level, a veritable tightrope walker over the abyss of further losses.
  • Meanwhile, a whale of considerable girth and even more considerable profits has decided to trim its XRP holdings. Is this a portent of doom? Perhaps just indigestion. 🤔

Back to the Miserable Two Dollars?

Ah, just a week ago, XRP strutted about like a peacock, its price soaring to a multi-month peak of nearly $2.7. It preened, it posed, but ultimately, it was denied entry to the exclusive club of higher valuations. Subsequent attempts to break free from its earthly shackles met with similar ignominy, sending it crashing down to $2.3 by Friday. A tragedy! 🎭

The weekend saw a fleeting moment of redemption, a brief flirtation with the $2.5 resistance. But alas, like a moth to a flame, XRP was once again rebuffed. Now, it languishes at $2.3, a critical support level that, according to the esteemed Ali Martinez, has been tested more times than a student before an exam. 😰

Should it dare to venture below this line, Martinez, in his infinite wisdom, predicts a descent to the dreaded $2 – a support line that has, until now, valiantly defended XRP from utter ruin since the dawn of the year. A true hero! 💪

$XRP could return to $2 if it loses the critical $2.30 support! Perhaps we should all invest in life rafts. 🚣

— Ali (@ali_charts) May 18, 2025

Whale Watch Perps, an X (formerly Twitter) account dedicated to the noble pursuit of tracking whales, informs us that one such leviathan, a market participant of considerable PnL prowess, has reduced its XRP long position. A bearish sign, they say. Or perhaps the whale simply needed to diversify its portfolio to include more plankton. 🐳

A top trader by PnL on Hyperliquid just reduced their long $XRP position. Perhaps they’ve seen the future… or maybe they just needed some spare change for caviar. 🧐

This user’s current position is long $54.96K of $XRP at an average price of $2.32. A pittance, really, in the grand scheme of things. 🤏

— Whale Watch Perps (@whalewatchperps) May 19, 2025

The Glimmer of Hope (A Very Dim Glimmer)

But fear not, dear readers! After the aforementioned slip to $2.3, Martinez, in a moment of uncharacteristic optimism, noted that XRP flashed a buy signal on the hourly, according to the TD Sequential. Could this mean a price reversal is on the horizon? One can only dream… or perhaps invest in more life rafts. 🤞

Furthermore, Xoom (a name that inspires confidence, no?), declared on X that market interest in XRP has been “reset,” citing a surge in Google searches for the asset. Apparently, price breakouts occur when most are utterly bored. So, let us all feign disinterest in XRP and see what happens. For science! 🧪

Markets have reset their interest in XRP. Breakouts occur when most are least interested in price action/ bored. The key to success: apathy! 😴

— xoom (@Mr_Xoom) May 19, 2025

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2025-05-19 10:03