Ah, behold the lamentable fate of XRP, that once-proud token, now reduced to a mere shadow of its former glory! Lo, its price hath plummeted below the sacred threshold of $3, after a fleeting flirtation with $3.01. Alas, the daily chart doth reveal a visage most bearish, as if the whales themselves conspire to drown it in a sea of sell orders! 😱
Charts Proclaim: Woe Unto Thee, XRP!
Pray, cast thine eyes upon the chart from TradingView, where a descending triangle hath formed since XRP’s lofty ascent to $3.66. A pattern most dire, marked by a stubborn support and a resistance line that slopes downward like a scoundrel’s luck. ‘Tis a sign of doom, I say! 🌊
Yet, mark well this folly: a breakout was attempted, but ’twas but a cruel jest! The buyers, poor souls, could not sustain their momentum above $3, and thus the token was cast back into the abyss. 😭
The soothsayers of the market warn: should XRP fail to reclaim its $3 throne, where the 50-day simple moving average doth reside, it shall tumble to $2.70. And should the fates be unkind, the 200-day average at $2.50 may be tested, with further peril looming near $2.06-a fall of 31%! 😵
And lo, another omen appeareth: a bear flag on the 4-hour chart, confirming the impending doom. Should the price lose its grip on $3, a slide to $2.40 is nigh inevitable. Yet, should the bulls rally and push the price back to $3, a breakout above $3.20 might lift XRP to $3.40, or perchance even $3.66. But hark! Such hopes are but fleeting dreams. 🦬
Whales Flee, Leaving XRP to Drown!
Meanwhile, the on-chain chronicles tell a tale of treachery! As XRP briefly touched $3.10, the whales did sell with abandon. Santiment’s scrolls reveal that holders of one to ten million XRP shed their tokens like a serpent sheds its skin, reducing their balances to 6.79 billion-the lowest in six weeks! In but two weeks, these leviathans have cast aside 160 million XRP, valued at nearly $476 million! 🤑
Glassnode’s records further proclaim an increase in exchange reserves, with balances swelling by 665 million tokens since late August, reaching 3.94 billion. Ah, when the exchanges are laden with coins, ’tis a sure sign of impending sales, adding yet more weight to XRP’s woes. 📉
And lest we forget, the XRP Ledger itself doth wither! Daily active addresses have plummeted from 50,500 in July to a mere 21,000 now, according to CryptoQuant. New addresses, too, have dwindled from 11,000 to a paltry 4,300. ‘Tis a network in decline, a kingdom without subjects! 🏰
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2025-09-16 20:35