Larry David Thinks XRP’s Gains Are Just a Joke 🤣

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I can’t believe I’m saying this, but Ripple’s XRP has actually climbed nearly 10% in the past seven days. Who would have thought? It’s now trading around $3 at press time. And get this, the entire crypto market is up 1%. Wow, what a wild ride! 🎢

Now, apparently, this surge is supposed to reflect some kind of “renewed bullish sentiment.” But let’s be real, it just means a bunch of people decided to throw their money at something shiny again. Both the price action and derivatives data are pointing to “sustained momentum.” Yeah, because nothing says “I’m a smart investor” like buying into a meme coin. 🙄

Leverage Soars, EMA Breakout Confirms Trend

According to CryptoQuant, XRP’s Estimated Leverage Ratio (ELR) on Binance has hit a weekly high of 0.325, up 6% in the past seven days. This supposedly signals rising investor confidence and a stronger appetite for risk. Or maybe it just means people are getting desperate. 🤷‍♂️

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An asset’s ELR tracks the average leverage its traders use to complete trades on a cryptocurrency exchange. It’s calculated by dividing the asset’s open interest by the exchange’s reserve for that currency. When it declines, it means traders are becoming more cautious. But when it rises, it means they’re taking on more risk. Like, duh. 🧐

For XRP, this trend supposedly signals growing market confidence. But let’s face it, it’s probably just a bunch of people hoping they can outsmart each other. Good luck with that. 🍀

In addition, XRP’s rally has pushed its price above the 20-day exponential moving average (EMA) on the daily chart, confirming the bullish outlook. The key moving average is now forming dynamic support below XRP’s price at $2.91. Because, you know, moving averages are the ultimate predictor of success. 🚀

The 20-day EMA tracks an asset’s average price over the past 20 trading days, giving weight to recent prices. When a token’s price climbs above its 20-day EMA, it signals a shift toward bullish momentum. The 20-day EMA acts as a short-term trend indicator. So, staying above it often means XRP buyers are gaining control, and the market is leaning bullish. Or maybe it just means people are buying on impulse. 🤷‍♀️

XRP Bulls Eye $3.22 If $3.12 Resistance Flips to Support

XRP is currently lingering below the resistance formed at $3.12. If buy-side pressure strengthens and the token flips that price mark into a support floor, it could drive further gains toward $3.22. But if there’s an uptick in profit-taking, XRP’s price could break below its 20-day EMA and fall to $2.87. Because, you know, nothing says “I’m a savvy investor” like riding the rollercoaster of speculative trading. 🎢💸

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2025-09-09 19:22