XRP’s Descent: A Tragic Tale of 4 Doomsday Reasons 😢📉

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Key takeaways:

  • XRP confirms a bearish descending triangle on the daily chart, risking an 18% drop to $2.40.

  • Declining daily active addresses signal reduced transaction activity and cooling demand for XRP.

  • Spot taker CVD remains negative, suggesting waning investor demand.

Alas, XRP (XRP) now trades 23% below its lofty peak of $3.66, a price that once gleamed like the morning dew on a beggar’s hat. The market, ever the fickle lover, has turned its back, and the signs of a descent toward $2.40 are as clear as a drunkard’s path home.

CryptoMoon Markets Pro and TradingView, those modern-day scribes of chaos, reveal XRP trapped beneath a descending triangle-a pattern as ominous as a crow cawing at midnight. The chart below, a canvas of despair, tells a tale of woe.

On Tuesday, XRP shattered the support line at $2.95 like a fragile teacup, continuing its downward spiral. The measured target? A pitiful $2.40. An 18% plunge, dear reader, is not a stumble-it’s a full-fledged waltz with ruin. 🕺💃

Should XRP reclaim the $3 support level, it might avoid a deeper dive to $2.24. But let us not forget: the last two times it dared to rise were met with 25% and 15% rallies. A fleeting hope, like a moth drawn to a candle’s flame. 🔥🦋

XRP/BTC Bearish Divergence: A Loveless Union

The XRP/BTC pair and its RSI now share a toxic relationship. While the pair climbed between July 10 and August 18, forming higher lows, the RSI plummeted from overbought euphoria to a glum 43. A classic case of one dancing while the other mourns. 🎭🎶

This divergence is a prelude to tragedy. Traders, like vultures, circle above, ready to feast on profits. Investor interest? Gone, like a summer breeze. Buyer exhaustion? A permanent resident. 🦅💨

XRP/BTC clings to a support zone between 0.0000245 BTC and 0.0000250 BTC. Should it fall, the downtrend will march onward, a relentless army of red. 🚩🟥

Network Activity: A Ballroom Emptying

The XRP Ledger, once a bustling ballroom, now echoes with silence. Daily active addresses (DAAs) have crumbled from 608,000 to a paltry 33,000. A decline so severe, one might mistake it for a ghost town. 👻

Transactions? They’ve dwindled by 51%, a 1.25 million count that screams, “Abandon all hope, ye who enter here.” This is no mere slowdown-it’s a full-blown exodus. 🏃♂️🏃♀️🏃

With such indicators, XRP’s future is as bright as a coal miner’s lamp. The market’s favorite game of musical chairs continues, and the music has stopped. 🎻🛑

Negative CVD: A Dirge of Selling

The 90-day spot taker cumulative volume delta (CVD) paints a bleak picture. Since July 28, sellers have reigned supreme, turning the order book into a battlefield. Red bars dominate the chart-a funeral procession for bullish dreams. 🕯️⚰️

With 91% of XRP in profit, investors play Jenga with their portfolios. One wrong move, and the tower collapses. Sellers, ever the villains, show no mercy. Will history repeat itself? Only time will tell. ⏳💣

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2025-08-20 22:14