{"id":30194,"date":"2024-12-21T07:17:32","date_gmt":"2024-12-21T07:17:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=30194"},"modified":"2024-12-21T07:17:32","modified_gmt":"2024-12-21T07:17:32","slug":"is-xrps-bottom-in-ripple-explodes-20-from-1-96-lows","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=30194","title":{"rendered":"Is XRP\u2019s Bottom In? Ripple Explodes 20% From $1.96 Lows"},"content":{"rendered":"

TL:DR;<\/strong><\/p>\n

The entire cryptocurrency market went through a massive crash in the past few days, but Ripple\u2019s cross-border token was among the poorest performers.
\nSince then, though, XRP has gained roughly 20%, leading to the question of whether it has found its bottom.<\/p>\n

<\/a><\/p>\n

XRP Bounces Off<\/h2>\n

The developments at the start of the business week couldn\u2019t really foresee what would transpire just a few days later. On Monday, Ripple announced<\/a> that its long-awaited stablecoin will finally see the light of day on the next day (December 17) after it was greenlighted by the NYDFS.<\/p>\n

XRP\u2019s price reacted positively to both the announcement and the subsequent launch as its price skyrocketed from $2.35 to a multi-day peak of over $2.7 by Tuesday. After a minor retracement to $2.6, things went sour on Wednesday after the latest US FOMC meeting.<\/p>\n

XRP, alongside the rest of the market, plummeted to under $2.25, losing<\/a> nearly 20% of its value in 36 hours. Although that was already a painful retracement, the landscape worsened on Thursday and Friday as the asset plunged to below $2 for just the third time since December 1.<\/p>\n

Thus, Ripple\u2019s token had dumped by 28% from Tuesday to Friday, going from $2.72 to $1.96. The bulls finally stepped up at this point and didn\u2019t allow any further declines. Just the opposite, XRP bounced off and has gained about 20% since then, currently sitting at $2.35.<\/p>\n

According to popular X analyst Dark Defender, XRP \u201cdouble tap on 4-hour charts for both on RSI and Price,\u201d which, alongside the \u201ctremendous bullish pin\u201d on the daily chart, suggests that the asset has already bottomed and is ahead of more gains.<\/p>\n

XRP double tap on 4-hour charts for both on RSI and Price.<\/p>\n

Additionally daily frame has a tremendous bullish pin bar.<\/p>\n

These are initial signals for momentum to continue.<\/p>\n

Time will tell pic.twitter.com\/85zgnzOhvC<\/a><\/p>\n

\u2014 Dark Defender (@DefendDark) December 20, 2024<\/a><\/p>\n\n

It\u2019s About Perspective<\/h2>\n

During the lows, many crypto commentators started to speculate<\/a> whether the overall bull cycle had ended. After all, the entire crypto market cap lost roughly $500 billion in just days at one point.<\/p>\n

However, Moon Lambo outlined a different view for those retracements, including XRP\u2019s plunge. The YouTuber talked about having a perspective, as XRP, for instance, stood below $0.5 less than two months ago. Consequently, going from over $2.7 to under $2 is indeed painful, but looking at it on a broader scale, it still shows that the asset is a lot higher than it used to be just weeks ago.<\/p>\n

As someone who has been holding $XRP<\/a> for over 7 years, while the price has been well under $1.00 for almost 100% of that time, and having never sold a single $XRP<\/a> ever, I must say\u2026<\/p>\n

I find it amusing that people are freaking out that $XRP<\/a> *dropped* to $2.15.<\/p>\n

Bitch it was 49\u2026 pic.twitter.com\/1FoohjdxUv<\/a><\/p>\n

\u2014 Moon Lambo (@MoonLamboio) December 20, 2024<\/a><\/p>\n\n

The post Is XRP\u2019s Bottom In? Ripple Explodes 20% From $1.96 Lows<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL:DR; The entire cryptocurrency market went through a massive crash in the past few days, but Ripple\u2019s cross-border token was among the poorest performers. Since then, though, XRP has gained roughly 20%, leading to the question of whether it has found its bottom. XRP Bounces Off The developments at the start of the business week […]<\/p>\n","protected":false},"author":0,"featured_media":30195,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-30194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30194"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=30194"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/30194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/30195"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=30194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=30194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=30194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}