XRP’s Descent: $2 Floor or Grand Finale? 🎭📉

by

My dear, XRP has descended to $2.40, a 5% plunge in 24 hours and an 8% nosedive this week. One might call it a “correction,” though I suspect it’s less a dance and more a pratfall. Analysts whisper of a $2.70 “correction phase”-how very dramatic. Let us hope they remember their Dramamine.

As the asset tiptoes toward “key support zones,” short-term pressure persists while long-term patterns remain… well, intact. One must admire the audacity of markets clinging to hope like a debutante to her last gin.

Correction Nearing Key Support Zone

ChartNerd, that paragon of analytical rigor, opines the current slump aligns with “wave five” of a grand correction. The final leg? Presumably, a pirouette to $2.00. The “vertical accumulation support” above this level has held in past meltdowns-a feat akin to balancing a teacup on a pogo stick.

“Possible wick to $2 possible,” they say, as if fate itself is scribbling notes. And yet, “no macro structure has been lost”-how reassuring, like learning your house is still there, just slightly submerged.

The broader trend remains unscathed, trading within a “rising channel”-a phrase that sounds far more thrilling than it is. Should XRP reverse near $2.00, we might finally have a plot twist. Until then, we sip tea and await the encore.

XRP has now lingered above its 2021 highs for over a year-like a guest who overstayed their welcome but refuses to leave. One wonders if the host ever slept.

Short-Term Chart Points to Weakness

Ali Martinez, that oracle of bearishness, notes XRP was “rejected” near $2.57 and now languishes below $2.45. A “lower high pattern” forms, a phrase that drips with the despair of a deflated soufflé. Moving averages, those fickle friends, add downward pressure-a cruel reminder that even averages can be spiteful.

$XRP showing signs of weakness. A retest of $2.25 might be next!

– Ali (@ali_charts) November 2, 2025

His chart, a roadmap to ruin, suggests a pilgrimage through support zones to $2.25. One can almost hear the violins. Yet, longer-range support levels persist, like stubborn ivy on a crumbling wall.

ETF Expectations and Market Sentiment

CryptoPotato, that beacon of crypto clarity, reports a surge in interest for a spot XRP ETF. Prediction markets, with their 99.9% approval odds, suggest regulators are as predictable as a cat knocking over a vase. Ripple’s SEC drama concluded earlier this year-how quaintly 2020. Now, the stage is set for “regulatory progress,” a phrase that makes one crave a stiff drink.

XRP briefly flirted with $2.65 post-optimism and rate cuts, but the romance fizzled. Now, all eyes are on the ETF timeline and support zones-a farce of suspense, darling.

Read More

2025-11-03 16:53