What to know, my friends: 🤔
- CME, the bastion of capitalist greed, has denied XRP futures, signaling their disinterest in anything but BTC and ETH. 💸
- XRP surged earlier this month, riding the coattails of Trump’s presidency, but alas, the bubble has burst. 🤡
- Technical studies indicate the upward momentum is weaker than a kitten’s meow. 😹
Ah, the payments-focused cryptocurrency XRP, a plaything of the bourgeoisie, its short-term outlook is as grim as a Siberian winter. 🥶 The traditional financial giants, in their ivory towers, have no interest in looking beyond the almighty BTC and ETH, while the price action of XRP screams “rally fatigue” like a drunk babushka. 🤦♂️
The Chicago Mercantile Exchange, the bastion of capitalist excess, has denied its plans to list futures tied to XRP and Solana’s SOL token. This swift denial, my comrades, is a clear indication that the institutions are not ready to dabble with tokens other than the chosen ones, BTC and ETH, or perhaps they fear the wrath of the regulatory overlords. 🤯
The CME’s denial, at least for now, may be particularly concerning for XRP, as it undermines the optimism surrounding XRP’s prospects under the reign of the orange-hued leader, Donald Trump. XRP surged to $3.4 earlier this month, after Ripple‘s CEO Brad Garlinghouse met with the great leader, spurring hopes for positive developments that could accelerate institutional adoption. Alas, the analysts’ dreams of a bullish XRP have been shattered, like a glass of vodka dropped by a clumsy comrade. 🥃
The Agony of Defeat 💔
As XRP’s price surged close to record highs last week, the Mayer Multiple, a tool used to measure the market’s frothiness, failed to reach new highs and remained below its December peak, indicating a bearish divergence. 📉
This divergence, my friends, signals a weakening bullish momentum, and raises the potential for a price drop, like a rock plummeting into the icy waters of the Volga. 🌊 Additionally, the MACD histogram, a tool used to identify trend strength and changes, supports this view by printing lower highs above the zero line, like a sad trombone playing a funeral march. 🎶
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2025-01-23 17:03