Bitcoin, that cheeky little number, has just vaulted to a new all-time high of $125,800-only to start cooling down like a grumpy old man in a sauna. 🧊
Analysts, those wise old owls, say this is a “healthy pause” in the ongoing uptrend. The MACD also shows that the strong green bars representing bullish power are getting lighter, meaning buying strength is slowing. Even so, the weekly chart stays bullish, with bulls still in control. 🐂
If Bitcoin continues to cool off, funds could move into altcoins, giving coins like XRP more room to climb in the days ahead. Or, you know, just crash and burn. 🌪️
XRP Tests Key Levels as Market Shifts
While Bitcoin takes a breather, XRP is trading between two important zones – a support area of $2.70-$2.80 and resistance around $3.10-$3.15. A confirmed daily close above $3.15 could open the door to $3.30-$3.35. Or, y’know, a black hole. 🕳️
XRP is also forming a possible W pattern, which often marks a bullish setup. If the price holds above $3.15, the next target stands near $3.55, which matches the recent daily highs. Or maybe it’s just a W for “Woe.” 😢
Bearish Divergence Fades Away
On the weekly chart, the earlier bearish divergence that formed around July is slowly fading. The RSI is ticking upward, showing improving strength. The long cooling phase over the last few months appears to have played out fully. With Bitcoin setting new highs, XRP may now move past the bearish phase that held it back through the summer. Or maybe it’s just pretending to be brave. 🦊
Outlook: XRP Could Rise If Altcoins Take the Lead
If Bitcoin’s pullback continues, XRP could be one of the next movers as traders shift focus to altcoins. A firm breakout above $3.15 could lift the price toward $3.50-$3.60, close to its all-time high. Or maybe just a mirage. 🌅
However, if the price drops below $2.93-$2.94, XRP could return to sideways action before making another attempt upward. Because nothing says “excitement” like a game of financial whack-a-mole. ⛷️
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2025-10-07 06:53