Afsar91

@Ripple Network
The digital asset $XRP experienced a sharp
decline on Wednesday as sellers tightened their grip around critical support zones 🔻 The move triggered large-scale liquidations across markets while institutional inflows fueled the heaviest trading momentum seen in over a week 📊
📰 Market Snapshot
XRP’s value tumbled by 7️⃣5️⃣% within a single day — sliding from 2️⃣4️⃣0️⃣ to 2️⃣2️⃣2️⃣ — after breaching the key support region near 2️⃣2️⃣8️⃣ This breakdown coincided with a surge in total trading activity reaching 137M+ representing an 84% increase over the usual daily volume 💥
The selloff peaked around 15:00 GMT ⏰ when a cascade of stop-loss triggers amplified bearish pressure pushing the token through multiple short-term support lines The drop extended to the 0️⃣2️⃣1️⃣ range signaling heightened volatility as traders rapidly exited leveraged positions ⚙️
By the session’s end overall volume sharply contracted to 7M units reflecting exhaustion among short-term participants after one of the steepest single-day drops this month 😮‍💨
📈 Price Flow Summary
The token briefly stabilized near 2️⃣2️⃣0️⃣ before rebounding slightly to 2️⃣2️⃣24️⃣ showing a sequence of higher lows around 02:12 GMT as short-term buyers stepped in at oversold conditions 💫 This recovery looked more like tactical accumulation rather than a strong directional conviction since the broader structure remains bearish 🚨
Despite the rebound #xrp failed to reclaim the breakdown area around 2️⃣2️⃣8️⃣ confirming sellers’ dominance 🔒 The price action consolidated near 2️⃣2️⃣18️⃣ with noticeable hesitation amid thinning liquidity — a behavior echoing earlier breakdown phases where muted volume often precedes either a short-term bounce or deeper retracement 🌀
🧭 Technical Overview
The daily setup for XRP now reflects a clearly defined bearish trend after repeated unsuccessful attempts to retest resistance around 2️⃣4️⃣0️⃣ The decisive drop below 2️⃣2️⃣8️⃣ finalized a descending channel pattern visible on the 4H charts 📉 a configuration typically associated with continuation moves in corrective markets ⚙️
Momentum indicators turned sharply negative 😬 The RSI fell from neutral territory into mild oversold levels while the MACD shifted into bearish alignment for the first time in two weeks Both signals support the short-term continuation thesis unless XRP can reclaim its pivotal band between 2️⃣2️⃣8️⃣ and 2️⃣3️⃣0️⃣
Volume dynamics further confirm the bearish narrative 🚫 with an 84% spike accompanying the breakdown — contrasting the muted participation during minor rebounds A classic hallmark of institutional distribution rather than retail-driven volatility 🧠
🎯 Key Levels for Traders
Market participants are watching closely whether the 2️⃣2️⃣0️⃣ area can act as a temporary defensive line under persistent selling pressure ⚔️ A decisive breach below it could open the door toward the 2️⃣1️⃣0️⃣–2️⃣0️⃣0️⃣ corridor where past consolidation offers limited technical protection ❗
Conversely a solid daily close above 2️⃣2️⃣8️⃣ would be needed to neutralize the current bearish bias and pave the way for a test of resistance zones near 2️⃣3️⃣5️⃣–2️⃣4️⃣0️⃣ 🔁
Sentiment remains fragile 🧩 with derivatives data showing increased short exposure and weakening spot demand — signaling that traders still approach the asset with caution as volatility looms ahead 🌫️
#TRYHARED @Tryhared
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