USDTHB

Only the reclaiming of the sacred $3 threshold and the breaching of the ascending trendline might herald a fleeting glimmer of bullish hope. 🛡️

Ah, comrades, behold the tempest in the ether! In this merciless world of Layer 2 fantasies, the abrupt selloff has devoured recent triumphs like a wolf devouring the feeble gains of the toiling traders, scattering them in shock and dismay, leaving naught but cries for the elusive next anchor of resistance. 😩

In a dramatic turn of events, the crypto market witnessed its most catastrophic one-day liquidation ever, where the staggering sum of $19 billion was wiped off like a chalk drawing in the rain. The chaos erupted post-Trump’s audacious proclamation of a 100% tariff on China, rattling markets like marbles in a jar and awakening the slumbering specter of trade wars. Bitcoin, that plucky digital rogue, tumbled downwards by over 12%, briefly flirting with a price beneath $113,000 before it daintily rose again, as if adjusting a scarf.

On the fateful day of October 10, Bitcoin, that digital phoenix, faced its crucible. Trump, with a flourish of his tariff pen, declared war on Chinese imports, a 100% levy in retaliation for Beijing’s rare earth embargo. The markets shuddered, stocks plummeted, and crypto bled-$200 billion evaporated like morning dew. A drama fit for the gods, or perhaps, a farce. 🎭💸

But the real question everyone’s whispering is: Will Bitcoin stay above the sacred $100,000 line, or will the price tumble even further into the abyss? Fortunately, three charts might just have the answers. Spoiler: they might surprise you.

Binance Coin is strutting its stuff with a strong upward momentum, swaggering toward the $1,400-$1,500 zone. Crypto King, in his infinite wisdom, points out that the slight dip from $1,349.99 to about $1,267 is just the market behaving like the moody teenager it is after a sugar high. No need to panic, people. The daily structure is still intact, with higher highs and increased trading activity, which means the bulls are clearly still running the show.

It’s the digital gold rush-only it’s got a bit of a criminal twist. The once murky world of crypto crime is now sparkling under the harsh light of blockchain investigations, and, darling, things are getting decidedly interesting. The ever-chipper blockchain analytics firm Chainalysis, on October 9th, dropped a bombshell: cryptocurrencies tied to crime have ballooned to a staggering $75 billion in on-chain balances. Not to worry, though, law enforcement is absolutely *thrilled* to help tidy up the mess.

What to Know

• XRP fell from $2.82 to $2.36 between Oct 10, 01:00 and Oct 11, 00:00, a 16% daily loss that left traders questioning their life choices. 📉
• Intraday volatility peaked at 43%, with prices briefly wicking to $1.64 during high-frequency liquidation sweeps-a financial tempest in a teapot. 🌪️
• Institutional futures open interest dropped from $9.0B to $8.85B as long liquidations hit $21M versus $2M shorts, a lopsided battle of bulls and bears. 🐂🐻
• 320M XRP transferred to exchange wallets in the past week, confirming that the whales were indeed distributing their holdings, perhaps to fund their winter caviar reserves. 🍾🐳
• Late-session buying stabilized the price near $2.35-$2.40, with accumulation volumes exceeding 12M in the final 15 minutes-a last-ditch effort to salvage dignity. 🛡️💪

News Background

• Ripple’s ecosystem faces macro and structural stress: global trade tensions, diverging central-bank policy, and uncertainty over U.S. digital banking licenses. It’s enough to make even the most hardened investor reach for the vodka. 🌍🍸
• Ripple’s National Trust charter deadline passed on Oct 7, heightening regulatory risk premiums around XRP-linked institutional products. The specter of regulation looms like a brooding nobleman in a Tolstoy novel. ⚖️👻
• Despite the drawdown, on-chain data shows long-term holders adding below $2.40, suggesting value-based repositioning-or perhaps, a stubborn refusal to admit defeat. 💎✋

00-21:00 UTC, when hourly volume hit 817.6M. It was a massacre, a bloodbath, a financial Waterloo. ⚔️
• The low of $1.64 marked a potential capitulation point; the bounce to $2.36 capped at resistance around $2.84. A fleeting moment of hope, dashed against the rocks of resistance. 🌊
• The final 60 minutes (23:41-00:40) saw a stabilization move from $2.31 → $2.38 (+2%), with algos breaking $2.35 on sustained bids. A small victory, but a victory nonetheless. 🎉

Technical Analysis

• Support: Established around $2.30-$2.35; extended downside risk to $2.22 if volume dries up. The floor is lava, but only if the traders stop dancing. 🕺🔥
• Resistance: Layered at $2.84-$2.90, with $3.05 as macro breakout trigger. A wall that only the bravest-or most foolish-will attempt to scale. 🧗♂️
• Volume: Up 164% vs. 30-day average – capitulation-grade turnover. A torrent of trades, a deluge of desperation. 🌊
• Trend: 75-day symmetrical triangle broken to downside; needs close above $2.90 to regain structure. A broken pattern, a shattered dream. 💔
• Momentum: RSI levels near multi-month lows; volatility bands expanding, signaling potential base formation. The calm before the storm, or the storm before the calm? 🌪️⛈️

What Traders Are Watching

• Whether $2.30 support zone attracts sustained whale accumulation. Will the whales return, or have they swum to calmer waters? 🐳🌊
• Rebuild of open interest following $150M contraction in derivatives markets. A phoenix rising from the ashes, or a mere flicker before the flame dies? 🦜🔥
• Regulatory clarity post-Ripple charter review, and its impact on corporate adoption. The sword of Damocles hangs over XRP, its fate uncertain. ⚖️⚔️
• Cross-asset spillover from BTC’s $125K rally – potential relief rotation back into XRP. A lifeline thrown from the flagship, or a mere whisper in the wind? 🚢💨
• Technical confirmation above $2.90 to invalidate short-term bearish bias. The holy grail, the elusive prize, the beacon of hope. 🏆✨