XRP: A Rollercoaster 🎢

by

So, XRP is hovering around $2.20, which, in cryptocurrency years, is basically a triumph. After months of getting absolutely pummeled (I’m imagining tiny XRPs with little boxing gloves, getting knocked down repeatedly 🥊), there’s been a little bounce. A “rebound,” the analysts call it. Like a toddler who briefly stands up before collapsing in a heap again. It’s… fragile. Which is, honestly, my default setting on Mondays.

Everyone with a Bloomberg terminal is now furiously disagreeing about what happens next. Are we headed for a prolonged gloom? A triumphant comeback? Honestly, flipping a coin would provide as much clarity. A new report using “derivatives data” – which sounds terrifyingly complicated – suggests things haven’t settled down. Apparently, a bunch of people got wrecked, first the people who bet against XRP, then the people who bet for XRP. It’s like a financial seesaw designed by someone who really hates everyone.

This isn’t a “trend,” oh no. It’s just… chaos. Leverage, they say, has been “cleared.” Which means someone lost a lot of money. And probably blamed their spouse. The analysts assure us this reduces “immediate downside risk.” Like a polite way of saying “prepare for more risk, just delayed.”

Binance: Where the Liquidations Happen

Turns out, most of this drama is unfolding on Binance. It’s like the cryptocurrency equivalent of a particularly rowdy nightclub. On January 5th, the “shorts” – those betting the price would fall – got squeezed for $4.4 million. Binance was happy to collect. This sent the price briefly soaring towards $2.40, until, predictably, it wasn’t. 🙄

Then, on January 6th, the “longs” – the optimists – took a beating, losing around $4 million, with Binance once again enjoying a prime collecting position. Another $1.5 million vanished shortly after. People who were late to the party, chasing the hype, were swiftly and unceremoniously ejected. It’s a good reminder: never chase the hype.

The helpful folks at CryptoQuant have even made a heatmap. It looks vaguely threatening, like something from a medical scanner. Apparently, the shorts were cleared first, then the longs. It’s very… specific. What is XRP testing now? Long holder conviction, naturally. Because nothing builds character like watching your investments fluctuate wildly.

Binance, naturally, dominates everything. And these liquidations often signal even more volatility. So, buckle up. It’s going to be a bumpy ride. 🥴

The Resistance Is Strong (and Slightly Boring)

Looking at a 3-day chart (which, honestly, induces a mild headache), XRP is trying to find some stability. It bounced from around $1.80, which is apparently a “demand zone” aligned with a “long-term red moving average.” I have no idea what any of that means, but it sounds important. The bounce suggests sellers are getting tired, which is encouraging. Unless they’re just resting.

But, predictably, it’s hitting resistance at $2.25-$2.30. These blue and green “moving averages” are now behaving like walls, rejecting any upward momentum. This is not a “confirmed trend reversal,” just a “corrective structure.” Which, translated, means: don’t get your hopes up. Trading volume hasn’t exploded, which suggests this rally is fueled more by people covering their losses than actual enthusiasm. Structurally, things are still looking bleak. And the sequence of lower highs remains intact. Lovely.

XRP needs to break $2.20 and then get to $2.40-$2.60 to really get going. Otherwise, expect more consolidation, or another tumble. It’s showing “relief strength,” but lacks “confirmation.” To sum it up: it’s a work in progress. Like me, after a particularly challenging trip to the grocery store.

Read More

2026-01-08 04:25