XRP’s Wild Ride: 📉 Ouch!

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So, XRP had a bit of a moment. Or, as the kids say, a “deleveraging event.” Which, in adult language, means a lot of people lost a lot of money. $610 million, to be precise, all on the “long side.” 💸 Apparently, believing in the future of digital currency is expensive, who knew?

How Bad Was It, Really?

Open Interest plummeted – it’s like everyone suddenly realized they maybe shouldn’t have bet the farm. The “Estimated Leverage Ratio” hit its lowest point of 2025, which is… concerning. It’s the financial equivalent of finding a dust bunny the size of a small dog under your bed. You just wonder how it got so big. 🤔

Is There a Silver Lining?

Apparently, hope springs eternal, even in the volatile world of cryptocurrency. We’re supposed to wait for XRP to break past $3.10 and for Bitcoin to hit $117,000. It’s a lot to ask, frankly. It’s like saying I’ll feel better if I win the lottery and discover a new, delicious flavor of instant ramen. Very specific prerequisites for happiness.

Back in July, things were looking peachy. XRP was at $3.41, and everyone was feeling optimistic. Now? $2.50. Honestly, it feels like a metaphor for life. 🤷‍♀️

Apparently, $3.10-$3.20 is a “particularly important supply zone.” Which sounds suspiciously like financial jargon designed to make things seem more complicated than they are. Like “synergy” or “value-add.”

Open Interest has halved. Which, I’m told, is bad. Or good. It depends on your perspective, and frankly, after reading this much about XRP, my perspective is a little blurry. It’s all just numbers swimming in a digital sea. 🌊

A Bitcoin surge past $117k would be lovely, though. Altcoins need “breathing space.” It’s a nice way of saying they need Bitcoin to prop them up. Like a financial life raft. 🚣

Proceed With Caution (And Maybe Therapy)

Big players – “whales,” they call them – were dumping XRP on Binance. It’s always the whales. They’re like the landlords of the crypto world. The selling has slowed down, which is… something. Maybe they got bored. Or ran out of XRP to sell. 🤷‍♂️

Spot Traders: Still Mostly Sad

The “Taker Buy/Sell Ratio” is below 1. Meaning more people are selling than buying. Shocker. It’s like showing up to a potluck when everyone else brought something amazing, and you just remembered you forgot to bring a plate. You just sit there and hope nobody notices. 🤦‍♀️

The chart looks… bearish. I’m not even qualified to interpret a chart, but “bearish” sounds bad. And there’s a “white box” and a “psychological resistance.” It’s all very intimidating. I’d stick to collecting stamps. They’re less stressful. 🐌

So, the advice is to wait. Wait for demand, wait for whales to calm down, wait for Bitcoin to magically reach $117,000. Basically, wait for a miracle. Which, let’s be honest, is a perfectly reasonable investment strategy.

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2025-10-16 03:08