XRP’s Wild Ride: Buckle Up, Folks!

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Well, shucks, folks! It seems XRP has been on a tear, shootin’ up to its all-time high of $3.65 like a firework on the 4th of July 🎇! But, as we all know, what goes up must come down… or at least take a breather, right? 😅

Now, I know what you’re thinkin’, “Mark, what in tarnation is goin’ on here?” Fear not, dear reader, for I’ve got the lowdown. It seems we’re lookin’ at a potential short-term cooldown, but don’t you go thinkin’ the rally’s over just yet! 🙅‍♂️

MVRV Ratios: The Profit-Takin’ Prophet

It appears the 90-day MVRV ratio has surged to 48.07%, which is like wavin’ a big ol’ flag sayin’, “Hey, folks! Time to take some profits!” 🤑 Historically, high MVRV readings have led to sell-offs, so we might be lookin’ at a 17% pullback, just like we did back on January 31. 📉

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Now, I know some of you newer holders might be thinkin’, “But Mark, I just got in on the action!” 😅 Fear not, young’un, for even the 30-day MVRV is warnin’ of potential sell-offs, sittin’ at 39%, its second-highest reading in six months. That means you’re in good company, and you might just see some sellin’ pressure. 🤯

Exchange Inflows: The Curious Case of the Missing Sellers

But 🤯

Now, compare this to earlier rallies, like the local tops in May and January, where exchange inflows spiked like a cactus in the desert. 🌵 This time, despite the XRP all-time high, the data tells a different story: holders ain’t rushin’ to exit. 🙅‍♂️

RSI: The Overbought Oracle

XRP’s strong rally has pushed its daily RSI to 89.44, which is like a big ol’ warning sign sayin’, “Hey, folks! You might be gettin’ a mite too excited!” 😅 Historically, RSI above 85 has led to coolin’-off periods or short pullbacks, even in strong bull trends. 📉

XRP Price Action: The $2.95 Support Saga

XRP price is currently tradin’ at $3.59, right at the 1.618 Fibonacci extension level. While the uptrend remains intact, current on-chain and RSI signals suggest a cooldown toward $2.97 is possible, markin’ a healthy 17% pullback before continuation, approximately to $2.95. 📊

The $2.95 zone, which aligns with the previous Fibonacci level, is like the magic number, folks! 🔮 As long as the XRP price stays above this level, the bullish setup remains valid. A short-term dip toward it would not invalidate the rally but instead might offer a potential reentry point. 🤑

However, a clean break below $2.95 could trigger deeper downside, if paired with profit-takin’ stints and increasin’ exchange inflows. Until then, the path toward $4.64, the 2.618 Fib extension, remains the primary target. 🚀

Also, the short-term bearish hypothesis, relyin’ on the pullback, would be invalidated if the XRP price cleanly breaches the $3.59 resistance level, searchin’ for a new all-time high. 🤯

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2025-07-18 13:22