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Ripple (XRP) Price Set to Tumble As Much As 30% in March As Mutuum Finance (MUTM) Is Expected to ...
Ripple (XRP) is hanging on by a thread to avoid a sharp drop as bearish signals pile up in derivatives and spot markets. The data shows that the coin’s funding rate dropped from 0.0103% to -0.0022% early in March, indicating an increase in those going short on the coin, according to data from Coinglass. While the likes of the previous two tokens are fuelling market gloom, Mutuum Finance (MUTM) is bucking the trend, with a hullabaloo around their presale, which is now nearing Phase 4. The project has inspired to accumulate $3.5 million in funding, with Phase 3 tokens priced at $0.02 quickly getting sold out across 5,800 holders.
Bearish Signals to Watch in Ripple
Ripple’s struggles are playing out in the increasingly bearish technical patterns. Crypto expert Ali Martinez recently pointed out to a head-and-shoulders pattern on XRP’s chart—an arrangement that is frequently followed by significant dumps. The $2 support level is not looking stable for the token now, with a penetration sparking liquidation cascade.
Retail investors on American exchanges have already begun unloading holdings, incurring $230,000 in net outflows. XRP is up 4.4% today, but this uptick seems tenuous in the face of Bitcoin’s relentless volatility. According to Bluntz, XRP has been creating an ABC correction, a three-wave formation that can potentially wipe months of profits. Based on historical data, such corrections usually finish up with prices some 30-50% of where they began, coinciding with the $1 target.
Mutuum Finance Started to Gain Traction
With the crypto market tides turning, Mutuum Finance (MUTM) brings a refreshing change to the instability shown with XRP. With the project’s Phase 3 presale at $0.02 per token, it has been fielding huge inflows in anticipation of a 25% price rise to $0.025 in Phase 4. Early players can make a 200% profit on launch when MUTM lists
