Oh, the crypto world, where numbers dance like a drunken chorus line! Crypto analyst Dom, the Sherlock Holmes of blockchain, has declared that XRP‘s liquidity is thinner than a Mel Brooks plot twist. Apparently, any price movement is as leverage-driven as my jokes are punchline-driven. And just as the altcoin recovers, the market does a little jig, leaving us all wondering, “What’s next, a musical number?”
XRP’s Spot Liquidity Crashes Even as Price Recovers-Or Does It?
In a post that’s more dramatic than a Brooks screenplay, Dom proclaimed that XRP’s liquidity has “vanished” faster than my dignity after a bad audition. It’s at its lowest level in nearly two years, folks! He also pointed out an “interesting dynamic” in the spot orderbooks-a bunch of orders popped above the $1 level, pushing the altcoin into a bid skew so strong, it could rival my stage presence.
Dom, ever the historian of crypto chaos, noted this skew was last seen in May at the $1.70 lows. The order book? Thinner than a Brooks budget film. His comments came as XRP rallied to $1.66, just as Bitcoin decided to moonwalk past $70,000.
But oh, the drama! Dom quipped that after hitting $1.66, crypto exchange Upbit started dumping XRP like it was last season’s wardrobe. Around 50 million XRP was net sold-a fire sale, if you will. Dom suspects both retail and institutional investors were behind this, with 12,775 unique trades. Sophisticated distribution? Or just a crypto garage sale? You decide!
Given the thin liquidity, Dom suggests the rally was driven by derivatives market shenanigans. CoinGlass data shows a 76% surge in derivatives trading volume and a 113% spike in options trading. Open interest? Down 3%. The long/short ratio? Below 1. Traders are bearish, but hey, who isn’t these days?
A Bullish Setup-Or Is It a Comedy Sketch?
Enter Egrag Crypto, the crypto analyst with a name that sounds like a Brooks character. He declared XRP’s setup remains bullish until the market says otherwise. He highlighted a descending broadening wedge on the 2-week timeframe-fancy talk for “it’s going somewhere, maybe.” The current candle? Shaping into a Hammer or Dragonfly Doji, which are reversal candles after a downtrend. So, XRP might be gearing up for an upside move. Or not. It’s crypto, after all!
Egrag added the Descending Broadening Wedge is still intact, and the price is reacting at the lower structure. At the time of writing, XRP is trading at $1.46, down over 5%. But hey, in the world of crypto, that’s just Tuesday.
So, there you have it, folks! XRP’s liquidity crash, price recovery, and a dash of Brooks-style humor. Will it moon? Will it doom? Only time-and maybe a musical number-will tell. Keep hodling, and remember: in crypto, every day is a comedy… or a tragedy. Depends on your portfolio!
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2026-02-16 19:53