$XRP
🚨 $XRP — THE NEXT STOP: $1.00 OR $1.20?
Yesterday, I questioned XRP's performance. Today, let's look at the numbers.
US inflation came in hotter than expected, putting pressure on risk assets. Meanwhile, XRP spot ETFs recorded around $10.4M in net outflows on November 9.
Here's what concerns me most: CryptoQuant analyst Darkfost flagged unusually elevated bullish funding on Binance, even as XRP continued falling.
That means traders are still betting on a recovery while the price remains weak.
📉 My outlook for the next few days:
• Below $1.03 — a move toward $1.00 becomes more likely.
• Above $1.10 — a recovery toward $1.15–$1.20 becomes possible.
• Between those levels — I'm cautious.
I wouldn't rule out a sharp relief rally. XRP is oversold, and crowded bearish sentiment can reverse quickly. But a bounce isn't the same as a trend reversal.
My current bias? More downside risk before a convincing recovery.
What happens first — $1.00 or $1.20?
#XRP #crypto #MarketAnalysis
🚨 $XRP — THE NEXT STOP: $1.00 OR $1.20?
Yesterday, I questioned XRP's performance. Today, let's look at the numbers.
US inflation came in hotter than expected, putting pressure on risk assets. Meanwhile, XRP spot ETFs recorded around $10.4M in net outflows on November 9.
Here's what concerns me most: CryptoQuant analyst Darkfost flagged unusually elevated bullish funding on Binance, even as XRP continued falling.
That means traders are still betting on a recovery while the price remains weak.
📉 My outlook for the next few days:
• Below $1.03 — a move toward $1.00 becomes more likely.
• Above $1.10 — a recovery toward $1.15–$1.20 becomes possible.
• Between those levels — I'm cautious.
I wouldn't rule out a sharp relief rally. XRP is oversold, and crowded bearish sentiment can reverse quickly. But a bounce isn't the same as a trend reversal.
My current bias? More downside risk before a convincing recovery.
What happens first — $1.00 or $1.20?
#XRP #crypto #MarketAnalysis