Is XRP coin in? Ripple explodes 20% from $1.96 low

TL:DR;

• The entire cryptocurrency market went through a major crash in the past few days, but cross-border token Ripple was among the worst performers.
• Since then, however, XRP has gained about 20%, leading to the question of whether it has found a bottom.

XRP is going off

The developments at the beginning of the business week could not have predicted what happened just a few days later. On Monday, Ripple announced that its long-awaited stable will see the light of day the next day (December 17) after being greenlit by the NYDFS.

XRP price reacted positively to both the news and the subsequent release as its price surged from $2.35 to a multi-day peak of over $2.7 by Tuesday. After a small move to $2.6, things turned sour on Wednesday after the last US FOMC meeting.

XRP, along with the rest of the market, fell to less than $2.25, losing almost 20% of its value in 36 hours. While that was already a painful move, the landscape worsened on Thursday and Friday as the asset dipped below $2 for just the third time since December 1.

Thus, the Ripple token had decreased by 28% from Tuesday to Friday, going from $2.72 to $1.96. The bulls finally rallied at this point and did not allow further declines. Just the opposite, XRP bounced off and has gained about 20% since then, currently sitting at $2.35.

According to popular analyst X Dark Defender, XRP “double tapped 4-hour records for both RSI and Price,” which, along with the “terrible bullish pin” on the daily chart, suggests that the fund has already gone down and is ahead of him. more benefits.

Double tap XRP on 4-hour charts for both RSI and Price.

In addition daily frame has a very good pin bar.

These are initial indicators to move forward.

Time will tell pic.twitter.com/85zgnzOhvC

– Defend Dark (@DefendDark) December 20, 2024

It's about Vision

During the lows, many crypto commentators began to speculate whether the entire bull cycle had come to an end. After all, the entire crypto market cap lost about $500 billion in just days at one point.

However, Moon Lambo explained a different perspective for these movements, including the fall of XRP. The YouTuber talked about getting a perspective, since XRP, for example, stood under $0.5 less than two months ago. As a result, going from over $2.7 to under $2 is painful, but looking at it on a broader scale, it still shows that the fund is much higher than it was a few weeks ago.

As a person who has been holding $XRP for over 7 years, while the price has been well below $1.00 for almost 100% of that time, and not selling a single $XRP ever, I must say…

I find it funny that people dismiss that $XRP *dropped* to $2.15.

It was 49… pic.twitter.com/1FoohjdxUv

— Moon Lambo (@MoonLamboio) December 20, 2024