XRP is Playing Games with Us | What’s Going On?
The last two weeks have been a real headache for anyone watching XRP. If you’ve been checking the charts, you’ve probably noticed that the price is just stuck around the $1.30 mark. Every time we think it’s about to go up, it just pulls back again. It’s definitely testing our patience.
The market is being pretty tricky right now. A lot of people who were betting on the price going up long positions have been forced out of the market because it didn’t move how they expected. Basically, the big players are shaking out the smaller traders before deciding the next move.
Look at the chart above; the price is sitting right on that important support line.
Looking at the data, many people are still feeling positive and hoping XRP will jump in price soon. However, the market usually does the opposite of what most people expect. That’s why we see so many traders getting liquidated (losing their positions) lately.
The red and green bars show you when people had to close their positions because the price didn't go their way.
This data shows how active the market is right now on big exchanges.
The interesting thing is that many big investors whales are moving their coins to private wallets. This suggests they aren't planning to sell anytime soon. They are probably just waiting for the CLARITY Act news in the U.S. Until we get clear rules from the government, XRP will likely keep moving sideways around $1.30.
This shows the trading volume it gives us an idea of how much people are buying and selling.
So, what should we do?
If you are trading, keep a close eye on that $1.30 support. If the price drops below it, things might get rough. But if it stays above, it could be a good chance to buy more. My advice? Don't rush into anything don't fomo. The market is jumpy right now, so keep your risk small.
Source:
GlobeNewswire
Pluang
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This article was originally researched and written by me. To maintain transparency across Web3 platforms, please note that a version of this post was first published on my Hive blog (@rizqimaruf). You can find the original Hive post here: https://inleo.io/@rizqimaruf/xrp-is-testing-everyones-patience-whats-actually-going-on-lap
