XRP, Bitcoin On The Edge; Will Santa Abandon Nasdaq?

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Markets

What to know:

  • XRP teeters on the brink at $2.00. Will it make it? 😬
  • BTC’s hanging by a thread-price levels everywhere! 😱
  • Nasdaq’s chart says “peak vibes”-is this the end of the tech party? 🎉💔

Analysis by CoinDesk’s own chart whisperer, Omkar Godbole.

Let’s talk XRP. It’s had a pretty rough week, dropping more than 6% to $2, which is basically its “make-or-break” line. Seriously. This level’s like the edge of a cliff, and XRP’s standing on it wearing slippery shoes. Since last December, $2 has been where the bears get tired and the bulls… well, they stop caring. It’s been a zone of meh, with little weekly candles trying to rally but failing.

Now here’s the kicker: if $2 crumbles, expect some XRP holders to panic-sell and poof-prices could slide off the edge like a soap in a shower. 🧼

But for now, $2 is holding strong like that one friend who swears they’ll stop smoking “tomorrow.” To turn bullish, though, XRP needs to fight through a downward trendline at $2.50. And, honestly, it’s probably just going to stare at it nervously and do nothing.

Now, onto Bitcoin. It’s got its own drama going on. The king of cryptos is chilling at some major crossroads-like, if this were a rom-com, we’d be at the part where the main character has to choose between two love interests, and neither of them are great. Bitcoin is hugging its most important support lines: a bullish trendline (it’s not as exciting as it sounds), the 100-week SMA (Sounds technical, right?), and the 38.2% Fibonacci retracement (try saying that five times fast). What does this mean? BTC is at the crossroads of Destiny, and if it trips over one of those lines, it’s all downhill from there. 🤷‍♀️

If Bitcoin breaks through these levels, traders are eyeing April’s low near $74,500, and maybe even the 2021 peak, which is still lurking like an ex you try to forget. 👀 Let’s just hope we don’t hit those lows because some traders are already predicting BTC will flirt with sub-$80k in 2026. Yes, 2026. Yikes, right?

But don’t panic yet! Bitcoin bulls need to reclaim the 50-week SMA, currently sitting just above $102,252, or else the entire market might decide it’s time for a nap. 💀

Nasdaq: Is The Party Over? 🎉👋

As for Nasdaq, well, things aren’t looking as rosy as tech investors would like. The chart’s dropping some “hangover” vibes-literally. There’s this thing called a “hanging man” candlestick pattern. Cute name, right? Sounds like the worst thing that can happen in a Western. In Nasdaq’s case, this little candlestick is waving a red flag, signaling the market might be running out of steam. It’s basically Nasdaq saying, “Yeah, I’ve had enough tequila for tonight, guys.”

When this pattern shows up at record highs, it’s like the market’s saying, “I need a nap.” And when this happens at the top of the charts, it might be time to call it a day. Watch out for more signs, because if this thing turns, it’s going to be a downhill ride like those final hours of a New Year’s party when you realize, hey, you’re still in the same spot, and the music’s terrible.

So, there you have it. XRP’s clinging to life, Bitcoin’s trying to hold it together, and Nasdaq might be getting ready to retire. Meanwhile, tech bulls and crypto enthusiasts are all waiting for their “Santa rally”-but guess what? Santa might be stuck in traffic, and he’s not coming this year. 🎅🏽🚫

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2025-12-02 11:13