Oh, XRP. You’re like that one friend who shows up to a party, makes a grand entrance, and then quietly sneaks out before anyone notices they’ve been crying in the corner. The price has dropped over 20% since mid-July. And guess what? If $2.8 support breaks, things could get *even worse*. Buckle up, crypto fam. 🎢📉
According to crypto analyst Ali Martinez (who we assume eats, sleeps, and breathes charts), Ripple’s [XRP] price weakness isn’t taking a vacation anytime soon. After peaking near $3.6 in mid-July, it’s been on a rollercoaster ride straight to Sellville. 🎡 Most of the blame? Those pesky whales-because of course it’s the whales. Over the last three weeks, wallets holding between 1 million to 1 billion XRP tokens trimmed their holdings from over 10 billion to 8 billion. That’s $6 BILLION worth of XRP being offloaded. Whale-splaining much? 🐳🤷♀️
But wait, there’s more bad news for the bulls. Because apparently, the whales aren’t done yet. At press time, they were still unloading. Classic. Martinez also pointed out something called the MVRV death cross-a bearish signal so ominous it sounds like a rejected heavy metal band name. This little red flag is giving short sellers all the confidence they need to keep pushing prices down. 🚨💀
The last time this indicator popped up back in late March, XRP plummeted over 30%. So yeah, if history repeats itself, we might see bargain hunters lining up for discounted XRP like it’s Black Friday. But how low can it go? Martinez suggests $2.8 as a key support level, but the real floor might be closer to $2.48 based on on-chain data. 🏬📉
And guess what? The 200-day Simple Moving Average agrees with him. If market sentiment turns sour (and let’s face it, when does it not?), XRP could drop another 15%. Yikes. 😬
But hey, not everyone’s hitting the panic button just yet. Some traders are actually increasing their exposure to XRP. According to CoinGlass, smart money on Binance boosted long positions from 64% to 69% in just two days. A 5% surge! Either these people are geniuses or they’ve been watching too many “buy the dip” TikToks. 📱📈
So here’s the tea: Amid Bitcoin’s own struggles to find a bottom above $110K, some brave souls are already nibbling at XRP’s discounted price tag. But if $2.8 gives way, brace yourselves for a potential crash landing at $2.48. It’s like watching a slow-motion car accident-you want to look away, but you can’t. 🚗🔥
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2025-08-07 08:10