XRP’s Plunge: A Tale of Woe and Wallets Weeping 😭💸

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Ah, the cruel whims of fate! XRP, once a beacon of hope, now lies prostrate, its price tumbling like a drunken man down a staircase, falling below the sacred threshold of $2.10. And lo, it consolidates, but in its heart, it knows-further despair awaits if it dares to breach $2.020. 😢

  • Behold, XRP’s descent began anew, slipping below the $2.120 zone, as if cursed by the gods of finance themselves.
  • Now it wallows beneath $2.10, forsaken even by the 100-hourly Simple Moving Average, that fickle companion of traders.
  • A bearish trend line emerges, a harbinger of doom, with resistance at $2.0850 on the hourly chart of the XRP/USD pair (courtesy of Kraken, that modern-day oracle).
  • Should it remain below $2.10, the abyss beckons, and down it shall go, like Sisyphus with his boulder. 🪨

Alas, XRP could not cling to $2.150, for it is as fickle as a Dostoevsky protagonist, succumbing to a fresh decline, much like its brethren Bitcoin and Ethereum. Below $2.120 and $2.10 it fell, into the clutches of a short-term bearish zone, where hope goes to die. Even $2.080 could not hold it, and a low was forged at $2.052. Now it lingers, consolidating its losses, like a man pondering his sins.

An attempt was made, oh yes, to rise above $2.080 and the 23.6% Fib retracement level, but the bears, those relentless foes, stood firm. And there, like a specter, looms the bearish trend line, its resistance at $2.0850, mocking the hourly chart of the XRP/USD pair.

Below $2.10 it trades, shunned by the 100-hourly Simple Moving Average. Should it dare to rise, $2.0850 and the trend line await, ready to strike it down. The first major resistance, a mere $2.120, stands like a gatekeeper to the 50% Fib retracement level of the downward move from the $2.193 swing high to the $2.052 low.

A close above $2.120, they say, could propel it to $2.1395. And beyond? $2.20, then $2.250, and perhaps, if the stars align, $2.320. But the true test lies at $2.350, where the bulls must prove their mettle. Or will they, like Raskolnikov, falter under the weight of their ambition? 🦬

The Abyss Gazes Back

But woe betide XRP if it fails to conquer the $2.120 resistance zone! A fresh decline awaits, with initial support at $2.050, and the next major support at $2.020. Should it break below $2.020, the fall continues-to $1.950, then $1.920, and finally, the abyss of $1.880. A tragic end, indeed. 🕳️

Technical Indicators

Hourly MACD – The MACD for XRP/USD quickens its pace in the bearish zone, a grim reaper of charts. ⚰️

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD slumps below the 50 level, a soul in despair. 😔

Major Support Levels – $2.050 and $2.020, the last bastions before the fall.

Major Resistance Levels – $2.0850 and $2.120, the gates that may never open. 🚪

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2026-01-16 07:55