Cryptonews

And yet, they whisper…there is *still* room for it to rise. Room! As if the thing isn’t hopelessly inflated already! The audacity of hope…or perhaps, the desperation of the gambler. 🤔

The ephemeral XRP, in its latest pas de deux with the $2.80 support, now pirouettes toward a potential 23% crescendo at $3.66, ensnared in the sly geometry of a descending triangle.

Mr. Faecks, in a display of admirable indignation, assures us the team hasn’t touched a single XPL. Locked away, apparently, for three years with a year-long holding period. How very… restrained. One wonders if they’re all terribly bored. “No team members have sold any XPL,” he declared. As if that’s what anyone was *actually* worried about. 🙄

The learned men of the Kobeissi Letter, those astute observers of the human propensity for risk, pronounce the ‘risk appetite’ to be ‘incredibly strong,’ a phrase one suspects is often uttered just before fortunes are lost and lamentations begin. They speak of leverage and exchange-traded funds with a seriousness that suggests they believe they can truly *control* such forces-a delusion as old as time itself.

But don’t you go thinkin’ this is all sunshine and roses. Some folks, the ones what bet against the thing (short traders, they’re called), might find themselves in a heap of trouble if they ain’t nimble enough to adjust their positions. Seems a fella could lose his shirt…or at least a sizable portion of it.

XRP rocketed to new heights because apparently, Japan’s SBI thought, “Why not throw a lending party for institutions?” Cue 160M tokens trading like hotcakes, and buyers defending $2.93 like it’s their last slice of pizza. 🍕 The Oct. 18 ETF decision? Let’s just say everyone’s holding their breath. 🤭

Support and Resistance Levels

This performance followed a rather moody episode where it appeared as just another wallflower on the market dance floor, with the RSI and sentiment indicators throwing sulky glances before deciding to shake their groove things. “Fear?” they exclaimed. “Not on my watch!”

Oscar claims October could be XRP’s “turning point,” which sounds suspiciously like every New Year’s resolution I’ve ever made. 🗓️ Big investors are apparently prepping for ETFs like they’re stocking up for the apocalypse, while retail investors are still eyeing XRP like it’s a suspicious casserole at a potluck. Meanwhile, the price is stuck in a narrow band, which Oscar says is just the market taking a nap before it decides to sprint. 🏃♀️ “Pressure building quietly,” he says. Sure, Oscar, or maybe it’s just indigestion. 🤷♂️