It is a truth universally acknowledged, that a cryptocurrency enduring a market calamity must be in want of better fortune. Thus, XRP, with an air of melancholy, withdrew for the fourth day in succession, suffering indignities common to all fashionable tokens. Its prospects fell on Friday, June 13th, to the truly unbecoming sum of $2.0715—a wounding decline of 11% from this week’s highest esteem, and a staggering 36% beneath the proud grandeur it so briefly enjoyed earlier in the year. One might pity its nerves, if only those were not reserved for the token holders themselves.
XRP floundered upon the stage even as the XRP Ledger—surely deserving of a more grateful lead actor—continued to flourish. One must own that even Circle’s entrance, with its stately USD Coin (USDC), joining the network, brought little relief. The best efforts, dutifully catalogued by Circle’s own annals, show more than $2 million in USDC gracing the XRP Ledger since their alliance. That is, as they say in polite society, not nothing—but neither is it the fortune one attends a ball to find.
Moreover, XRP, ever the tragic heroine, persisted in its decline even after the noted Mr. Ondo Finance, with the distinguished Guggenheim Partners’ acquaintance (their assets purportedly so astronomical one cannot discuss them without a fainting couch), deigned to bring tokenized treasuries to the same ledger. And yet—alas!—the price would not be persuaded.
But cast your eye upon the neighbouring RLUSD stablecoin, which, with the insuppressible ambition of a Mrs. Bennet, continues to ascend. Its market cap has achieved a considerable $413 million, elevating itself from an unassuming $309 million at June’s commencement. Should momentum make haste, half a billion is within a lady’s reach ere the next round of soirées begins. One envisions much gossip at teas if this should come to pass.
A further, though yet hypothetical, improvement: whispers abound that approval of a spot XRP exchange-traded fund by the august U.S. Securities and Exchange Commission stands a 90% chance. (One wonders what odds one should offer at Pemberley!) The pertinent agency faces a imminent deadline; naturally, all expect a fine display of procrastination, for the SEC fancies October much more than June. Is not delay the most fashionable accessory in government?
XRP price analysis
Survey, if you will, the daily chart, which, to speak plainly, has afforded XRP little felicity these months past. From the dizzying heights of $3.40 in January, it is found wandering below $2.20, no doubt reflecting on the folly of ambition.
Presently, the token trades beneath both the 50-day and 200-day Exponential Moving Averages—a state not unlike being unwelcome at the best assemblies. The bears, emboldened, appear to be throwing quite a lively rout.
XRP, in its infinite wisdom or folly (the distinction is often slight), has composed for itself a descending triangle pattern. How droll, that a token clad in so much promise should settle for geometric melancholy. The highest points since January 16th, descending with the inevitability of a rejected marriage proposal, and a rather stubborn horizontal support at $1.9097 (coincidentally, the very 50% Fibonacci retracement level). Surely, all this arithmetic would scandalize Lady Catherine.
Should the price tumble below $1.9097, one expects a most disagreeable outcome, perhaps even approaching $1—a sum respectable only on a rainy day. Yet, should XRP break upward (imagine the collective swoon!), it may, with effort, return to the genteel upper crust of $3.40. Fortune, as always, favours the bold—or the opportunist with fortuitous timing. 😂
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2025-06-13 17:25