XRP’s $130M Plunge: Whales Weep, Charts Whisper Hope 🌊💔

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Ah, the torment of the XRP price! It has plummeted, my dear reader, by nearly 4.7% this week, now languishing around $2.80. A mere trifle, you say? Nay, for beneath this superficial wound lies a deeper agony. The on-chain data, that silent witness to all financial sins, reveals a truth most grim: large holders and long-term investors, those stalwart pillars of faith, are trimming their exposure. Their conviction, once unshakable, now flickers like a candle in the wind. 🕯️

Yet, in the midst of this despair, a technical signal on the chart dares to whisper of hope. But can XRP cling to its critical support level? The question hangs in the air, heavy as a Dostoevskian existential crisis. 🌪️

Whales Weep, Hodlers Tremble: The Selling Pressure Mounts

Behold, the whales, those leviathans of the crypto sea, have grown cautious. In the past 24 hours, their wallets, bloated with 10 million to 100 million tokens, have shed a combined 20 million XRP. A paltry sum, you might think, but at $2.80 per token, it amounts to a staggering $56 million. 💸

And the hodlers, those ascetic saints of the crypto world, have been offloading their treasures since early October. The HODLer Net Position Change, that grim reaper of accumulation, shows a drop from 163.68 million XRP to 137.78 million XRP. A loss of 25.89 million tokens, or $72.5 million in value. Together, they have unleashed $130 million worth of selling pressure in less than a week. A veritable deluge, mirroring XRP’s 4.7% weekly decline. Are they de-risking, or have they lost faith entirely? The question gnaws at the soul. 🦈

Crave more of these token insights? 🧐 Subscribe to Editor Harsh Notariya’s Daily Crypto Newsletter, where despair and hope dance an eternal waltz. 💃

A Hidden Bullish Divergence: The Last Gasp of Hope?

The chart, that cold and unforgiving mirror of the market’s soul, reflects the selling pressure. XRP trades beneath a descending trendline on the 12-hour chart, forming a descending triangle-a harbinger of bearish doom. Yet, amidst this gloom, a technical formation dares to offer a glimmer of hope. 🌟

On the 12-hour chart, XRP has crafted a hidden bullish divergence. The price, like a stubborn fool, makes higher lows, while the Relative Strength Index (RSI), that fickle measure of momentum, makes lower lows. This divergence, a whisper in the darkness, suggests that selling pressure may be easing. Could the broader uptrend persist if support holds? The question hangs like a dagger over the market’s head. 🔪

For XRP, the key level is $2.77, the low from September 27. If the 12-hour candle clings to this mark, the divergence may be validated, opening a path to $2.95 and $3.09. But should the price falter and fall below $2.77, the divergence theory will crumble like a house of cards. Sellers, those vultures of the market, could then push XRP to $2.69 or lower. 🦅

And so, XRP stands at a crossroads, torn between despair and hope. Heavy selling has clouded sentiment, yet one crucial technical signal leaves a narrow window for recovery. Will it seize this chance, or will it succumb to the abyss? Only time, that relentless judge, will tell. ⏳

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2025-10-09 19:43