XRP’s Wild Ride: Will It Soar to $3.50 or Crash Like My Last Relationship?

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XRP has decided to throw a surprise party for the crypto community, and guess what? It’s up to $2.09! 🎉 That’s a 2.59% increase from yesterday, which is great news unless you’re one of those people who bought in at $2.75. Ouch! But wait, there’s more! The 24-hour trading volume has dropped by 28.97% to $4.9 billion. So, is this a party or a funeral? 🤔

Source: Coinmarketcap

Is XRP on the verge of a breakout or a retreat?

Currently, XRP is strutting its stuff at $2.2889, with moving averages that sound like a math problem: 20, 50, 100, and 200 days all hanging out between $1.9480 and $2.3377. This range is like a cozy blanket of bullish vibes. But hold your horses! The MACD indicator is throwing shade with a bearish crossover. 😬

As long as XRP stays above $1.9480, we’re golden. But if it dips below $2.2885, we might be looking at a correction that could send it tumbling down to $2.0995 or worse. Yikes! 😱

Source: TradingView

Liquidation Heat: Are Traders Overleveraged?

So, it turns out traders are living on the edge—overleveraged, to be exact. Liquidation data shows that short liquidations peaked in late 2024, while long liquidations hit a staggering 42.504 million XRP on January 9, 2025. That’s a lot of liquidated dreams! 💔

These forced liquidations are like a bad breakup; they create extra sell pressure and can lead to a price decline. But hey, at least it clears out the weak hands, right? If buying interest returns, we might just see a sustainable rally. Fingers crossed! 🤞

Source: Coinglass

In a recent post on X (Twitter), RLUSD has crossed the minting milestone of $100M, giving Ripple Payments a boost and XRP some much-needed momentum. So, while whales are moving, let’s hope they’re not just swimming in circles! 🐋

Source: X

Conclusion: Will XRP Reach $3.50?

In summary, XRP’s price action is giving off slightly bullish vibes, but let’s not get too excited. After breaking above the $2 resistance, we’re eyeing that tantalizing $3.50 mark. But with the MACD crossover and all those liquidations, we might be in for a bumpy ride. Keep an eye on that support level at $2.2885—if it holds, we’re golden; if not, well, it’s time to panic! 😅 Ultimately, whether XRP can attract more buyers will determine if this rally is the real deal or just another flash in the pan.

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2025-04-04 16:10