XRP at $2.40 – Will it Rise or Continue to Fall? The Shocking Truth!

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Key Takeaways

What was the significance of the $2.7 area on the price chart?

Ah, the $2.7 mark-our old friend. It’s been a stubborn support since August. But, as fate would have it, the level is now packed with short liquidation levels, setting the stage for a potential retest. Will the bulls find redemption, or will this be the calm before the storm? Only time, and market whims, will tell. 🧐

What would convince swing traders to lean bullishly?

Simple-if the $2.8 zone rises from the ashes like a phoenix, then swing traders would have no choice but to believe in a miracle. A reclaim of $2.8 as a demand zone would prove that buyers actually have the strength to push XRP beyond the $3 mark. A glimmer of hope in an otherwise gloomy market. 🙄

At the moment, Ripple [XRP] is at $2.42-practically flirting with bearish territory. Sellers are in control, and they seem intent on pushing the price down to the psychological $2 mark. What’s next? A freefall? A rebound? Who knows? Stay tuned. 👀

Technical analysis shows XRP could see a 22% price drop

Looking at the weekly chart, we see swing points marked in green at $0.486 and $3.4-because who doesn’t love a little visual aid to confuse the masses, right? The April rally from $1.61 to $3.66 made the weekly structure look bullish, so XRP’s long-term outlook is still holding on by a thread. But here’s the twist: if it dips below $1.6, the bear train is leaving the station. 🚂💨

Now, let’s turn to the daily chart. The bullish rally from $1.9 to $3.66 in June and July was lovely, but it didn’t change the fact that the internal structure’s highs and lows are in bearish territory. XRP bulls valiantly defended the $2.7-$2.8 zone for months-until recently, when the selling pressure broke through it like a wrecking ball. 🏚️

This breakdown left behind a gaping hole in the market-a white-boxed zone from $2.5-$2.77. A stubborn obstacle for the bulls who probably need a miracle to clear this one. The Moving Averages and the Awesome Oscillator are both flashing red, as expected, with a minor glimmer of hope in the CMF (+0.05). So… yeah, buying pressure is rising, but not enough to push prices back to $2.8 and beyond. 🤷‍♂️

In short, brace yourselves. A drop to $1.9 and even $1.6 is looking more and more likely. A close below $2.28 on a daily session would mean that the dreaded 22% price drop might be on its way. Can we hear the doom bells? 🔔

What impact could the liquidation levels overhead have on XRP?

The liquidation levels above $2.8 hold extra weight. With a hefty cluster of short liquidation levels building up at $2.67, this ‘magnetic’ zone will likely drag XRP towards $2.7 in the days to come. Are we talking about a mere pullback or the beginning of something bigger? Who can say? Markets, much like life, are unpredictable. 😅

But wait-don’t panic just yet. There’s hope-Bitcoin could save us all. If Bitcoin rallies past $117k, that could give XRP the bullish jolt it needs to recover above $3.1. Who knew the fate of one currency could rest on the shoulders of another? Welcome to crypto. 🙃

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2025-10-17 00:27