XRP Goes to the Ball—But Forgets to Dance After $50M SEC Settlement!

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Darlings, one would have thought that, with XRP pirouetting up nearly 10% and fetching a rather flirtatious $2.30, champagne corks would be popping. Yet, in spite of Ripple and the typically unamused chaps at the SEC exchanging a cool $50 million handshake, the token is behaving with the enthusiasm of an accountant at a masquerade. Whatever is the matter? Will XRP ever muster the chutzpah to hit that elusive $3 mark? Stay tuned, old sports! 🥂

XRP: $50M Lighter, No Higher—And the Ballroom Is Still Flat

On the 8th of May, XRP did a most un-British thing and soared nearly 10%, arm-in-arm with Bitcoin, which itself barrelled through the ceiling at $104k, presumably to celebrate with a few caviar canapés. Yet, the very next day, with Ripple and the SEC having finally kissed and made up over $50 million, the market shrugged and went back to reading the Times. Fascinating, isn’t it? After all those years of litigation, XRP is now down a lacklustre 1.08% as I pen these words. Quelle surprise!

The culprit behind XRP’s emotional constipation? Simply put, Bitcoin is once again the belle of the ball. Everyone is transfixed by her sparkling $100k tiara, while XRP and the other altcoins stare wistfully from the punch bowl. Don’t be surprised if XRP takes a well-earned nap before sashaying back into the spotlight.

XRP Price Prediction: A Matinee Performance or Just More Rehearsals?

Take a peek at the daily chart, and you shall spy what the professionals call a “bullish engulfing candle” (though it rather sounds like an exotic cocktail, doesn’t it?). This dazzling 10% leap marks XRP’s dramatic exit from months spent wallowing in a declining channel, drifting unglamorously from $3.40 down to $1.60. But, never fear—the comeback seems to rival that of a washed-up West End diva!

If XRP manages a daily close above this channel’s upper railing, the next stop on the tour includes the 23.60% Fibonacci level at $2.70, then a hop, skip, and a jump to $3.67, and perhaps a fanciful twirl toward $4.59—though let’s not get carried away. Investors should keep their monocles polished for those particular figures, just in case the orchestra strikes up.

Notably, the Supertrend indicator remains unmoved—like a dowager duchess guarding her last sherry—refusing to declare things bullish until $2.35 is conquered and made support. The daily chart’s MACD, however, has been bullish since a thrilling crossover in early April. Ignore the false signals; they’re inevitable in any good farce. The outlook remains, if not dazzling, at least optimistic. Bravo!

But beware: a tumble below the $2 mark signals a most unwelcome dramatic reversal—call it Cinderella’s midnight. If that occurs, keep your eyes fixed on the $1.79 support level, the market’s sturdy chaperone, fending off financial embarrassment.

Open Interest: Awfully Perky, But Still Room for Shenanigans

The fine folks at Coinglass report that XRP’s Open Interest now stands at a dazzling $4.23 billion, the highest since March 4, but still lagging embarrassingly behind that all-time high of $7.86 billion—rather like showing up at Royal Ascot with last season’s hat. Tragicomic, really.

Meanwhile, Open Interest weighted funding rates are spiking to 0.0115%, suggesting the crowd’s betting ever more recklessly on a bullish romp. Could this leverage propel XRP into the stratosphere? Or will everyone just end up at the after-party with a hangover? 🍸

And now, the grand finale: The SEC is politely requested to lift the weary old injunction on Ripple and unfreeze that tantalizing $125 million escrow payment. Of that, $50 million finds its way into the SEC’s pocket—likely to fund more dreadful cocktail parties. This development is, theoretically, very bullish for XRP. If Bitcoin ever does pause for breath, well, XRP may yet have its night on the town. Chin up and keep your dancing shoes at the ready!

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2025-05-09 08:05