Ripple’s 2-Week Miracle: From Despair to $2.34 📈💸

by

Behold, the once-suffering XRP, like a weary traveler, found renewed vigor in the span of two weeks, casting off the shadows of prolonged losses. At this hour, the price doth hover near $2.34, a beacon of hope for the weary investor, with a weekly ascent of over 25%-a feat worthy of a Tolstoyan epic.

Meanwhile, the market’s appetite for XRP hath surged, with trading volumes eclipsing $8.5 billion. The token now commands a market capitalization of $142 billion, a position of prominence among the crypto elite, though still humbly ranked fourth.

The Price’s Resurgence from the Abyss

The rally commenced when the token, like a hero in a tale of redemption, tested the fabled support level of $2-a threshold that had withstood the tempests of last year. The buyers, ever vigilant, emerged from the shadows, propelling the price upward and erasing seven weeks of despair. Now, it doth eye the $2.34 to $2.4 zone, with momentum as steadfast as a Russian winter.

ChartNerdTA, that sage of the market, declared the move a full recovery, noting it hath vanquished the “last 7 weeks of downside PA.” This triumph hath cleared numerous technical traps, with $2.5 now in sight as the next challenge. Should it fall, traders may cast their gaze toward $2.75, a distant horizon.

CryptoWZRD, that oracle of the crypto realm, posits that XRPBTC hath been the catalyst. They warn of resistance near $2.27, suggesting a retest might offer a long-though a failure to hold could plunge the price into a realm of stagnation.

Amidst this, traders now fixate on the $2.41 level, a “cost-basis wall” where 1.56 billion XRP were once acquired. Such zones, as history hath shown, are fraught with sellers eager to reclaim their lost fortunes.

John Bollinger, that cautious observer, acknowledges the “strong lift” but deems the pattern “weaker” than Bitcoin’s and Ethereum’s. He laments the lack of tight consolidation, a flaw that may render the price as fickle as a courtier’s loyalty.

ETF Inflows and the Thinning of Exchange Supply

The spot XRP ETFs in the US have garnered over $46 million in inflows, a testament to the growing demand from institutional forces. These products, since their inception in mid-November, have not known a single day of outflows-a rarity in the volatile world of crypto.

At the same time, the supply of XRP on exchanges hath dwindled, a phenomenon that may bolster the price should demand persist. Traders now await with bated breath whether XRP can breach and hold above $2.5 or if selling pressure shall reignite, as capricious as the Russian weather.

Read More

2026-01-06 13:33