Ripple (XRP), that perennial underachiever of the crypto world, found itself languishing below the $2.40 mark on a Wednesday that shall live in infamy (May 21, for those keeping score). This, mind you, occurred while Bitcoin, in its infinite exuberance, galloped to new all-time highs above $109,500. One can only imagine the champagne corks popping—elsewhere.
The derivatives market, a den of iniquity if ever there was one, reveals a staggering $145 million in bearish leverage looming overhead. It seems the market has collectively decided that XRP is best suited for the role of a crypto-paperweight. Regulatory uncertainty, that tiresome albatross, continues to weigh heavily after a U.S. District Judge, in a moment of judicial pique, upheld the $125 million penalty against Ripple. One almost feels sorry for them. Almost.
XRP Faces $320M Derivatives Wall as Bears Eye $2.50 Rejection. Oh, the indignity! Ripple (XRP) has emerged as one of the weakest performers, a veritable tortoise in a race of hares, even as Bitcoin’s record-breaking rally lifted the usual suspects. Cardano (ADA), Solana (SOL), and Binance Coin (BNB), those darlings of the crypto set, each posted over 3% gains, breezily breaking past resistance at $0.73, $165, and $645, respectively. In contrast, XRP managed a paltry 1.5% uptick, failing to pierce the $2.40 resistance. One can almost hear the violins playing a mournful tune. 🎻
XRP Price Action | Coingecko
Daily trading volume for XRP stood at $2.7 billion—down nearly 80% from its May 13 peak of $11 billion. The horror! The horror! It appears the market’s enthusiasm for XRP has waned to a level usually reserved for lukewarm tea at a vicarage fete. ☕
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2025-05-22 00:52