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Why is $XRP price down today? XRP fell 2.5% in the past 24h to $3.20, diverging from its 10.39% weekly gain. Key drivers include profit-taking after topping Grayscale’s leaderboard, technical resistance at $3.30–$3.45, and mixed ETF sentiment. Profit-taking post-Grayscale surge – XRP’s 9.7% weekly gain triggered selling after hitting $3.30 resistance. Technical rejection – Failed breakout above $3.30 confirmed bearish momentum on 3-day charts. ETF uncertainty – BlackRock denied XRP ETF plans, cooling institutional speculation. Overview: Analysts flagged $3.30 as a critical threshold – a 3-day close above this level was needed to confirm bullish momentum. XRP briefly touched $3.30 on August 7 but closed at $3.20, sparking technical selling. What this means: The failure to hold $3.30 activated stop-loss orders and liquidated $31M+ in long positions. The RSI(14) at 57.59 shows neutral momentum, but bearish divergence emerged after the rejection. Fibonacci retracement levels now suggest $3.08 (50% level) as next support. #Write2Earn $XRP #
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Why is $WCT price down today? 1. Profit-Taking After Rally (Bearish Impact) WCT surged 11.09% over the past week, outperforming Bitcoin (-1.95%) and Ethereum (+0.3% 24h). This rally likely attracted profit-taking given: - High turnover ratio (0.71) – Signals active trading, with $43.6M volume vs $61.3M market cap. - RSI at 52.99 – Neutral territory but down from overbought 63.21 (7-day RSI) earlier this week. What this means: Short-term traders frequently exit after double-digit gains in low-cap tokens like WCT. The 32.87% drop in 24h volume suggests reduced buying pressure to sustain prices. 2. Airdrop Overhang (Mixed Impact) The June 2025 Solana airdrop of 5M WCT (2.7% of circulating supply) created latent selling pressure: - Recipients may still be offloading tokens – WCT remains 59.35% below its May 2025 peak. - Fully diluted valuation ($329M) far exceeds market cap ($61.3M), raising dilution fears as 81% supply remains locked. What to watch: WalletConnect’s governance updates for staking incentives to reduce liquid supply. 3. Technical Weakness (Bearish Impact) Key levels broke down: - Pivot point ($0.3355) – Price fell below this support-turned-resistance. - Fibonacci retracement – Stuck below 23.6% level ($0.379), with next support at 38.2% ($0.360). - MACD histogram flipped negative – Momentum shifted bearish despite recent uptrend. What this means: Technical traders likely exited positions after the failed breakout, exacerbating selling. Conclusion WCT’s dip reflects natural consolidation after outperformance, airdrop dynamics, and technical triggers. While the project’s Solana integration and 22% staking APY offer long-term value, high FDV remains a headwind. Key watch: Can WCT hold $0.30 support? A break below could target June lows near $0.28, while reclaiming $0.335 may revive bullish momentum. #Write2Earn #WCTToken
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Jangan berhenti bersuara tentang $XRP , lanjutkan! tidak butuh waktu lama untuk $5 bahkan $10, akan segera tercapai. 🙏
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wish me luck! $BNB $BTC $ETH
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alt season dimulai! $BTC $ETH $XRP
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