Will Ripple (XRP) Rise from the Ashes or Stay in the Doldrums? Find Out! 😱💸

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Ah, dear reader, the saga of XRP continues, a tale as old as time, or at least as old as the last market correction. Having been so audaciously rejected at the lofty heights of $3.6, our dear Ripple has found itself in a rather precarious position, clinging to the fragile support like a cat on a windowsill. 🐱

Key Support levels: $3, $2.7

Key Resistance levels: $3.6, $4

1. The Correction Chronicles

Since that fateful moment at $3.6, Ripple has embarked on a downward spiral, making lower highs and lower lows with all the grace of a drunken swan. The sellers, those charming harbingers of doom, have taken the price down to the $3 support level. Should they succeed in breaching this bastion, the bears will undoubtedly feast upon the $2.7 support like it’s a buffet at a particularly uninspired wedding. 🎉

2. A Bearish Ballet

In a delightful twist of fate, the momentum has turned decidedly bearish for XRP over the past fortnight. Both the MACD and RSI indicators have crossed into the dark realm of bearishness, continuing to make lower lows as if they were auditioning for a tragic play. Alas, the correction is in full swing, and a reversal seems as likely as a cat willingly taking a bath. 🛁

3. The Sellers’ Supremacy

A cursory glance at the volume profile reveals that, in the last 15 days, sellers have been on a rampage, closing five consecutive 3-day candles in a delightful shade of red. How utterly shocking! One might even say it’s a tad unusual, considering the robust rally that preceded this melodrama.

Yet, as the volume profile makes lower lows, one can’t help but sense a hint of exhaustion among the sellers. Perhaps, just perhaps, this opens the door for buyers to make a grand return, like a long-lost relative at a family reunion. 🎭

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2025-08-02 07:50