The vexing little XRP price has declined almost 9% this week-what a thing to behold!-showing unmistakable signs of weakness after its recent attempt at a comeback was thwarted. The sellers, ever so persistent, still seem to hold sway, yet one support level remains stubbornly in place.
Whether this humble support endures shall determine if XRP merely takes a brief rest or plunges into a deeper, more dramatic correction. Oh, the suspense! 💼💥
Weakness in the Air, But the Supporters Still Stand Firm (For Now)
The first whisper of trouble comes from momentum. Between October 13 and November 10, the price of XRP made a lower high-how dramatic!-while the Relative Strength Index (RSI), that ever-watchful gauge of buying fervor, soared to a higher high. This charming pattern is known as hidden bearish divergence, implying that the buying enthusiasm was increasing, but sadly, not enough to lift the price. Quite the tease, isn’t it? 😏
And so, the week’s decline makes perfect sense. Truly, a tragedy in the making.
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Even amid this melodrama, the $2.154 zone remains resilient-what an unexpectedly sturdy character! This isn’t mere chart nonsense but confirmed by the cost-basis heatmap, where between $2.161 and $2.174, a whopping 1.359 billion tokens gather like stamp collectors at a rather dull auction.
This band is, indeed, the strongest support in sight-possibly the only thing preventing a catastrophic slide. If this level holds, we might just see the divergence-those sneaky signals-resolved, paving the way for a hopeful recovery. Fingers crossed! 🤞
And if this band upholds its honor? Well, we could be witnessing the divergence’s curtains closing on their act, and a phoenix-like resurgence could commence. Exciting, isn’t it? Or at least, mildly entertaining. 🎭
The Gossip of the Market: Could a Bottom Be Brewing?
The second telling sign is the psychology-oh, the human element! XRP’s Net Unrealized Profit and Loss (NUPL)-a charming measure of investor sentiment-plummeted to 0.32 on November 16, its lowest point in a year. Dear investors are about as optimistic as a cat in a room full of rocking chairs.
Recall, the last time NUPL dipped so low (0.43 on April 8), XRP decided to shake its tail and jumped from $1.80 to a handsome $3.54-an impressive 96% increase. Quite a comeback, even by Austen standards! 😅
And here we are, with sentiment even gloomier this round. If the support at $2.154 endures, might we witness another charming bottoming formation akin to a well-scripted Regency novel? One can only hope, dear reader!
What’s Next for the Enigmatic XRP?
Should the $2.154 support be lost, alas, the next stop is $2.065-without much fanfare-and falling below $2.06 could open Pandora’s box of even lower levels. How delightful! 🤦♂️
But, should the brave buyers rally and defend that position, our first ascent awaits at $2.394-past several prior rejection scenes. Surpass that, and a robust rebound becomes plausible, with $2.696 on the horizon, and breaking that barrier might just turn the tide entirely.
All eyes now on one delicate question: will the support at $2.154 endure long enough for the sentiment to swing? If it does, XRP might just be gearing up for a resurrection reminiscent of its last grand rally-how dashing! 🚀
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2025-11-17 12:32