Crypto Meltdown: XRP Bulls Flummoxed as Bears Ransack Price—When Will the Carnage End? 🤔🐻

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If one wishes for a portrait of defeat, one could hardly do better than the viscountess at Monte Carlo or XRP at the hands of inclement market forces. The coin, spurned most rudely at $2.2 over the weekend, now finds itself lying inert on the chaise lounge of despair, fanning itself and muttering about “momentum” like a dowager deprived of her usual sherry. And what villainy! The price was jilted not at some nondescript alley, but at a supply zone so predominant that even Parisian waiters might raise an eyebrow in understated alarm. The bullish contingent, once so gaily optimistic, suddenly looks more like a club after last orders—full of regret, uncertainty, and the occasional brawl.

All Hope Abandoned At The Supply Zone

Frank—whose only crime is that he cares too deeply—has chronicled XRP’s misadventures on TradingView, pinpointing the supply zone at a most infuriating $2.27. From here, the bears (imagine them in dinner jackets, if you will) unceremoniously escorted the price down below $2.2. Pity, for one would hardly expect decorum among carnivores. But this, as it turns out, was only the overture.

Frank notes with a mix of glee and tragic foreboding that rejections abound, as though the entire market were a particularly exclusive London club and XRP had failed the dress code. Lower highs now festoon the charts with as much subtlety as peacocks on a cricket green. Apparently, institutional interest lurks in the shadows, plotting distribution—and not the charitable kind. Those hoping for a rapid recovery may have better odds at baccarat. 😬

The analyst, ever the harbinger of tidings (never good), points out the funereal parade of rejection candles marching dutifully across the supply zones. Lower highs? Check. Bearish sentiment? Positively roaring. Add some American economic news to the stew (conveniently arriving May 5–9), and one has all the makings of a melodramatic price performance. True to form, the broader crypto market prepares to respond, probably with a collective sigh only audible in the wrong kind of bars.

The Next Gruesome Acts: Price Targets

Bullish hope, that sly old fox, has nonetheless done its best to scurry off with its dignity. Trouble is, the bears are closing in like taxmen. Should XRP bungle its $2 defense, the analyst’s next target is $1.95—a bastion so precarious that one wonders if even Wildean wit could defend it. One might describe $1.95 as a “key level,” but that presumes there’s actually a door left to unlock.

Should calamity continue—and it usually does—the next redoubts are $1.69 and $1.60, which sound less like price points and more like the cost of a particularly sad gin and tonic. Heavy volume nodes cluster here, hoping for reversal but, let’s face it, bracing for disaster.

That said, there remains—mirabile dictu—a sliver of hope for the bulls, provided they can drag the price back over $2.27. If volume surges and the mood on Twitter shifts from “despondent” to “delirious,” one could perhaps hope for confirmation of an upward move. Until then, however, keep your seatbelt fastened and your expectations in storage. The ride’s far from over, and the bears are still at the wheel. 🚗💨

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2025-05-05 09:28