Is XRP Drinking the Market’s Kool-Aid? Spoiler: It’s Not Looking Good 🥴

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Meet XRP: the crypto equivalent of a rollercoaster that forgot to include the safety harness. Currently wobbling below the mystical $3 threshold, it’s not exactly winning any popularity contests. Today, it’s at a breezy $2.93, heading south faster than a penguin on an ice slip. 🐧💸

In a shocking display of financial wizardry-or maybe just a bad day-XRP shed about $5 billion in market cap over the last 24 hours, proving once again that money’s just a number until it decides to vanish. Market volatility seems to be playing hide and seek, with a 3.5% swing that makes your average rollercoaster look positively sedate. 🎢

But wait, there’s more! Some fancy analysts, whose job it is to predict doom and gloom while sipping lattes, suggest XRP may have a bit more downward travel in store. Ali Martinez (not a pop star, but possibly a fortune-teller in disguise) points out that a ‘Tom DeMark Sequential’ on the 3-day chart – which sounds like something out of a sci-fi novel – signaled a sell right at XRP’s starry-eyed $3.60 dreamland. 🚀➖

The Tom DeMark Sequential flashed a sell signal on the 3-day chart right at the local top, triggering the ongoing pullback.

– Ali (@ali_charts) August 5, 2025

Apparently, support zones around $3 are about as reliable as a leaky boat. The real bullseye for the bears might hit closer to an icy $2.48-$2.40. Thinking about $2.80 as a safe haven? Well, that’s just an emotional comfort zone, like cuddling a cactus. 🌵

Meanwhile, large whales (a fancy way of saying ‘big guys with a lot of XRP and probably a lot of existential dread’) have offloaded over 720 million XRP recently. That’s enough to make even the most stoic of whales consider a career in underwater basket weaving. 🐋🧺 Market anxiety, anyone?

Adding to the gloom, the MVRV ratio – which is basically a financial mood ring – has flashed a ‘death cross.’ No, this isn’t a bad horror movie; it’s just crypto-speak for “things are about to get worse.” Great. 🥀

Meanwhile, the MVRV ratio just flashed a death cross, another sign that a steeper correction could be underway for $XRP.

– Ali (@ali_charts) August 5, 2025

XRP: Bear’s Playground?

Despite all these ominous signs, some brave souls on CoinMarketCap are still convinced XRP will rise again, with 88% dreaming of a glorious comeback. It’s like believing in Santa Claus during a snowstorm, but who am I to judge? 🤷‍♂️

The daily chart shows XRP’s RSI flirting near neutral (which is about as exciting as watching paint dry), but heading downward faster than a sitcom punchline. Break below 45, and we’re officially in bear territory, with support levels at $2.80 and the ominous $2.40. 🎯

XRP price chart with RSI and Bollinger Bands | Source: Trading View

If XRP dares to dip below the lower Bollinger Band – around $2.74 – expect a headache instead of a coin flip. The middle band, or the 20-day SMA, at $3.16, is like the kid in class nobody wants to sit next to. Resistance? Oh, it’s lurking there like the last slice of pizza-just out of reach. 🍕

Adding to the fun, the MACD indicator has crossed its signal line, forming bearish bars with the enthusiasm of a Monday morning. Without a miraculous rebound, the market’s pessimism quotient will hit new heights, or lows, depending on your perspective. 🌑

XRP price chart with MACD | Source: Trading View

If XRP doesn’t find its way back above $3 in the next episode, it’s safe to say the bears will hold the remote-and probably the snacks too.

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2025-08-06 12:30