So, here we are, folks! XRP‘s price is doing the cha-cha, showing signs of a trend reversal, but not the kind that makes investors do a happy dance. Nope, it’s more like a wobbly pirouette that’s about to fall flat on its face! 💃
Currently, XRP is trading at a thrilling $2.24, which is down more than 1% from the previous session. The rally? Well, it’s about as lively as a sloth on a Sunday stroll. 🦥 Although it’s still above its 200 EMA at $2.09, it just can’t seem to hold its ground above the 50 and 100 EMAs at $2.25. Talk about a dramatic exit! Without some serious bullish volume, we might just see this price doing the limbo between levels, causing the EMAs to flatten out or even reverse. A golden cross? More like a golden flop! 🤦♀️
And here’s the kicker: this could lead to a wider correction instead of just a technical hiccup. Investors, take note! There are three levels you should be watching like a hawk, especially where the 100 and 50 EMAs are having a little meet-up. If we close below this, it’s like the bulls have thrown in the towel. The 200 EMA is the last fortress; if it breaks, expect a stampede of selling pressure. And let’s not forget the psychological level of $2—because who doesn’t love a good mind game? 🧠
Oh, and if you thought the bulls were just taking a nap, think again! The network activity of XRP, especially those oh-so-important payments between accounts, is dropping faster than my motivation to go to the gym. According to on-chain data, after hitting a peak of over one million transactions, the count plummeted to a mere 332,639 transactions on June 12. Yikes! 📉
Read More
2025-06-12 14:20