You Won’t Believe What Ripple Did at $2.4 – Next Stop: Plunge-ville?

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On a rain-soaked evening, somewhere between reality and that curious market delirium, Ripple (otherwise known as XRP to those with mysterious charts and even more mysterious intentions) has clambered upwards, flushed with bullish enthusiasm. Yet, as fate and technical resistance would have it, buyers now find themselves up against a wall more formidable than the entrance to the Variety Theatre. At $2.4, dear reader, the upward momentum decided to take a sudden holiday—with no forwarding address.

XRP Analysis

By Shayan (but you didn’t hear it from me 😉)

The Daily Chart

Picture, if you will, the daily chart: a battlefield littered with the hopes of optimists and the smug grins of short sellers. Tin soldiers of bullish impulse marched valiantly toward $2.4, flanked by the spectral edges of a descending wedge near $2.6, possibly drawn by an overzealous geometry teacher.

Alas, the supply region proves as unyielding as an official at the literary bureaucracy. Buyers, having left their gusto in their other coat, are mildly rebuffed. The rally, exhausted and a little embarrassed, now risks dozing off underneath this impenetrable ceiling.

Expect instead a gathering of market voices below $2.4. This chorus of consolidation, like a badly attended séance, is entirely normal—and, some might say, necessary—before new money or fresh delusions appear screaming for a breakout. A haunted XRP chart

The 4-Hour Chart

Adventurous readers, let us shrink ourselves (imagination, not sorcery) to the 4-hour chart. Here, the frailties of confidence are stark, sharp as Pontius Pilate’s smile. Rejected at $2.4, XRP scampers back like a cat caught in a rainstorm.

The illustrious RSI (that mystical oracle), mutters about a bearish divergence—when price and momentum part company, like two actors after the opening night flop. Even more dramatically, XRP swoons beneath its prior swing low, printing a lower low and, presumably, sobbing quietly in the corner.

What does this mean? An imminent retracement toward $2 beckons: a price level both psychological and, potentially, psychoanalytical. Hope, as ever, is permitted: should the buyers rediscover courage (and a few lost wallets), $2 could serve as a trampoline to $2.6 and, for the bravest hearts, beyond. Should courage fail… well, the market never lacks for comic relief. The comedy of Ripple, act II

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2025-05-01 19:14