RED ALERT FOR FANS OF $XRP ! 🚨📉 A BEARISH pattern threatens to LOWER the price to 2 DOLLARS! 😱💸
Bad news for #xrp ! 💔 A classic technical pattern, known as "head and shoulders" (H&S) 🤕, has just been confirmed on short-term charts, and the predictions are TERRIFYING! 👻 We could see XRP plummet to the level of 2 DOLLARS! 📉
What is this devilish pattern? 🤔 Imagine three peaks on a chart: one higher in the middle (the "head") and two lower on the sides (the "shoulders"). When the price breaks a line connecting the lowest points of the shoulders (the "neckline") 🔪, the SELL signal is unleashed! 🛑
And guess what... XRP just broke that neckline around 2.33 dollars! 💥 If it doesn't recover soon, analysts see a direct path to 2.25 dollars (where the 200-day moving average lurks 💀) and then the final target of 2 DOLLARS! 🎯 A loss of value of 14% from current prices! 😭
To make matters worse, interest in XRP futures has collapsed like a house of cards 🃏📉, losing a whopping ONE BILLION DOLLARS in just five days! 😱 This tells us that traders are losing faith and liquidity is evaporating 💨, which only worsens things for the price! 😫
In the last 24 hours, long position liquidations (those betting that the price would go up 🐂) skyrocketed to 12 MILLION DOLLARS 💸, much more than the liquidations of those going short (the bears 🐻)! This indicates selling pressure 😡, with bulls forced to sell at a loss and pushing the price even lower. 👇
Keep an eye on this 👀: despite the price drop, XRP trading volume surged by 70% 📈
Do you think it will manage to hold on to 2 dollars or will we see an even more dramatic fall? Is it time to sell the ship or ride out the storm? ⛈️
