Yesterday, $XRP was still hovering around $1.28, briefly surging to $1.33 within 24 hours. A 10,000-XRP position was up 500U, and holders thought it was finally XRP’s turn to ride the midterm-election rally.
Then U.S. AI stocks crashed, the Nasdaq dragged everything down, and XRP slid all the way from its high to $1.21—a roughly 7.6% drop in 24 hours. Those who bought 10,000 XRP near the peak are now sitting on an unrealized loss of 1,200U.
The 500U gained in the morning was wiped out, with another 700U lost on top. Everyone who chased the price yesterday is now stuck holding the bag.
What stings even more: XRP’s high this week was $1.3414, marking its sixth consecutive lower weekly high. The 50-week moving average, at $1.48, is hanging over its head—and XRP hasn’t climbed back above it in a full year. This rebound was never a reversal; it was just following the broader market’s bounce.
XRP’s scarcity index on Binance did hit its highest level since 2022, meaning there are fewer tokens available to sell on exchanges—but fewer tokens doesn’t mean the price has to rise. When it falls, there may still be no buyers.
Those who didn’t get in at $1.28 yesterday are smiling today; those who chased it at $1.33 are crying. That’s crypto for you: one day of gains can make you think the bull market is back, and half a day of losses can teach you to start over.
#XRP #Ripple
Then U.S. AI stocks crashed, the Nasdaq dragged everything down, and XRP slid all the way from its high to $1.21—a roughly 7.6% drop in 24 hours. Those who bought 10,000 XRP near the peak are now sitting on an unrealized loss of 1,200U.
The 500U gained in the morning was wiped out, with another 700U lost on top. Everyone who chased the price yesterday is now stuck holding the bag.
What stings even more: XRP’s high this week was $1.3414, marking its sixth consecutive lower weekly high. The 50-week moving average, at $1.48, is hanging over its head—and XRP hasn’t climbed back above it in a full year. This rebound was never a reversal; it was just following the broader market’s bounce.
XRP’s scarcity index on Binance did hit its highest level since 2022, meaning there are fewer tokens available to sell on exchanges—but fewer tokens doesn’t mean the price has to rise. When it falls, there may still be no buyers.
Those who didn’t get in at $1.28 yesterday are smiling today; those who chased it at $1.33 are crying. That’s crypto for you: one day of gains can make you think the bull market is back, and half a day of losses can teach you to start over.
#XRP #Ripple
