XRP’s $1.88 Descent: A Crypto Drama Unfolds 🚀📉

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Oh, the drama! XRP is now trading near $1.88, which is like a toddler’s temper tantrum but for cryptocurrency. It’s dropped below a key support level that’s been holding up like a particularly unreliable friend. Now, the asset is under pressure, and traders are watching the weekly candle like it’s the final episode of a soap opera. 🕯️

Over the past seven days, Ripple’s token has lost almost 8%, which is more than your patience after a 10-hour flight. Daily trading volume is over $3.4 billion-because nothing says “I’m serious” like throwing billions of dollars at a problem. And in the last 24 hours, the price fell about 2%, because why have a small meltdown when you can have a full-blown apocalypse? 💸

XRP Breaks Below Key Support Zone

XRP has dropped below its multi-month support trendline for the first time this year. The zone, which previously acted as a launch point for several strong bounces, now looks like a broken elevator. Remember those V-shaped recoveries earlier in 2025? They’re probably on a coffee break. ☕

However, the recent decline has pushed the price below $2, and it’s been chilling there for days. Analysts are calling it a “technical breakdown,” which is just crypto jargon for “we’re all out of ideas.” ChartNerd, ever the dramatic narrator, warns that if XRP doesn’t reclaim its former glory by week’s end, we’re in for a deep dive. 🤯

Meanwhile, the support area has been honored multiple times since March, yet there’s been no strong response to the current candles. The charts show moving averages falling like a deflated balloon. Evidence of less favorable price behavior? More like “I give up” behavior. 🎭

Pattern Breakdown or Setup for Recovery?

Veteran trader Peter Brandt has identified a possible double-top pattern on XRP’s weekly chart. This structure includes two local peaks with a support level near $2 acting as the neckline. He warned, “This is a potential double top. Sure, it may fail, and I will deal with this if it does.” Classic Peter-always the optimist. 🕵️♂️

A failure to reclaim the $2 level could open the door to a further move down toward $1. Still, the market may not follow this pattern fully. With the RSI near 37, XRP is entering a range often associated with short-term rebounds. But let’s be honest, rebounds are just crypto’s version of “I’ll be back.” 💸

Historical Signals and ETF Interest

According to Steph Is Crypto, XRP has a history of strong rallies following prolonged periods below the 50-week SMA. He noted that during past cycles, XRP spent between 49 and 84 days below the average before rebounding, with gains ranging from 70% to 850%. “Right now, XRP is sitting inside the same historical window,” he says. Like a time-traveling stock tip. 🕰️

Institutional interest also continues to grow. Spot XRP ETFs have reported $19 million in net purchases. It’s like a party where everyone’s bringing snacks, but the main course is still on the menu. 🍔 The first US-based spot XRP ETF launched over a month ago, with consistent inflows since then. Though the pace has slowed, the streak of positive net activity remains unbroken. Because nothing says “I’m committed” like a slow drip of cash. 💸

To restore short-term momentum, bulls must move XRP above the recent high of $2.27, which was last hit in late November. The next support level is close to $1, and traders are monitoring it in case of further selling pressure. Because who needs hope when you can have a backup plan? 🚧

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2025-12-18 15:42