XRP’s Descent to $3: BlackRock’s Cold Shoulder

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XRP, that most fickle of tokens, stumbled at the $3.40 threshold, its heart heavy with the weight of BlackRock’s proclamation: “No plans at this time” for an XRP ETF. A dagger to the hopes of investors, who now gaze upon the $3 level with the same dread as a peasant facing a frosty winter. 🧊💸

A Tale of Two Bulls

Ripple (XRP) was recently rebuffed at $3.40, its dreams of reaching $3.84 dashed by unseen forces. The legal battle with the SEC, which ended with a joint dismissal, felt like a fleeting respite-now, the market’s mood sags like a tired poet. 📜

Expectations soared, only to be crushed by sellers lurking in the shadows. The token fell to its ascending trendline, a metaphor for hope crumbling under the weight of reality. The MACD histogram, red and growing, whispers of doom, while the RSI, at 45, flirts with despair. 🕯️

At $2.97, XRP teeters on the edge, its 7-day EMA a distant memory. Should buyers fail to reclaim it, the path downward is clear-first to $3, then perhaps to $2.60, where even the most stubborn bulls might surrender. 🧊

XRP ETFs: BlackRock’s Enigma

On the fundamental front, asset managers like Grayscale and Bitwise have thrown their hats into the ring, though the odds of approval remain as uncertain as a Russian winter. 🧊

Yet BlackRock, that paragon of financial prowess, has publicly stated, “No plans at this time,” leaving ETF Store’s Nate Geraci to mutter, “It’s only a matter of time.” A statement as hollow as a hollowed-out oak. 🎩

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2025-08-18 16:15