In a single 15-minute candle, $XRP dumped >7% and the whole market got clipped. In just 20 minutes, $420M in leveraged positions were liquidated. Absolutely insane. 🔥
For $XRP price nuked from $3.21 support straight to $3.00 in seconds 😬—and yet it held major support.
From that $3.00 low, $XRP reclaimed the golden zone at $3.11. Textbook liquidity hunt vibes: the wick swept lower, but candle bodies respected key zones. 📊
Zoom out: this looks more like a double bottom than a breakdown. Fib structure still intact—no breach of the macro 0.5 at $2.76 (correction low). Today’s low actually tagged the 0.382 at $3.00 perfectly. 💯
Fundamentals? No real catalyst. Some point to inflation prints or the recycled “U.S. won’t buy #Bitcoin for reserves” headline. More likely a market-engineered sweep to grab liquidity. 🧐
Bottom line: Macro bull structure unchanged. As long as we don’t make a new low below $2.76, upside targets stand. Extensions from recent lows still line up with the ~$4.70 breakout zone. 💣
What matters now: Watch $3.11. If it holds post-shakeout, momentum can rip. Shorts are trapped after the reclaim—perfect fuel for the next leg.
Levels to watch
✅ Supports: $3.11 (local golden retrace), $3.00 (macro 0.382)
⚠️ Resistances: $3.21 (macro 0.236 — must reclaim & hold), then $3.41 (macro 0.118) & $3.66 (ATH)
🔥 Macro Target: ~$4.70 extension.