Cryptonews

The $XRP price, a melancholic wanderer, inches back toward a descending trendline etched since July’s zenith. Three failed flirtations with this line now set the stage for a fourth-a rendezvous fraught with tension. As the 4-hour chart reveals, the price must pierce not just the trendline but also the ironclad wall of $3. Should Bitcoin, its capricious lover, waver, $XRP may follow suit, its momentum indicators having already peaked like overzealous admirers at a gala.

In a chat with CryptoMoon at the Token2049 shindig in Singapore, Edwards declared that Bitcoin’s leap over the $120,000 mark could lead to a “very quick” breakout to $150,000. “Wouldn’t surprise me one bit if we hit $150,000 faster than a wizard saying ‘Abracadabra’,” he quipped. “We just need to break out of this $120,000 range, and Bob’s your uncle. Could happen in days!” 🧙♂️⏳

According to a Mr. Simon Gerovich, a President, naturally, of this Metaplanet enterprise, they’ve added 5,268 Bitcoins to their already overflowing digital coffers. They paid a rather *staggering* $615.67 million for the privilege. One wonders if they checked the price of a decent dacha first. At $116,870 a pop, one could almost buy a small Balkan nation. Almost.

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