At 2 AM, the crypto world suddenly exploded! XRP dropped like someone slammed the brakes, plunging from $2.93 to a low of $2.82 in just one hour, drawing a glaring vertical line on the K-line chart — was this market panic selling, or was the main force secretly injecting money?
1. The technical indicators have long warned: this drop is not an accident!
Opening the 1-hour K-line chart, XRP's downward trajectory actually hides a string of 'codes.'
Three death resistance lines are firmly welded at $2.93: the 5-day, 10-day, and 20-day downward trend lines act like three locked gates, with every attempt for the price to surge upwards being forcefully pushed back. A longtime follower told me last night, 'This position looks unsettling.' Looking back now, it indeed became the last straw that broke the bulls' back.
Looking at the moving averages, the short-term average has violently 'pierced through' the long-term average, forming a standard bearish arrangement — it’s like an out-of-control downhill train, with inertia still in play, and it's not that easy to stop. More critically, trading volume quietly expanded during the decline, which is not a good signal, indicating that funds are secretly fleeing and bearish momentum has not yet dissipated.
Let me draw a line of life and death for everyone: whether we can close above $2.88 today will directly determine the next direction. If it can't hold, the historical low of $2.75 will likely be tested; if it does hold, there might be a chance to breathe.
2. News is like fire and ice: bad news is crashing the market, but good news is hidden deeper!
Some say 'it's the U.S. stock market dragging it down,' but that's only half right.
U.S. stocks plunged 3% in the early morning, with Bitcoin leading the drop, naturally dragging down altcoins like XRP — just like a small boat capsizes more easily when a big ship shakes. But what really panicked the market was Ripple co-founder Chris Larsen suddenly transferring 140 million XRP to an exchange, which is like throwing water into a boiling pot of oil; who wouldn't be scared?
But don’t rush to criticize! Ripple's backup plan is deeper than anyone else's: on one hand, they teamed up with Gemini to launch an XRP credit card, allowing XRP to be used for coffee purchases; on the other hand, they expanded the application scenario of the RLUSD stablecoin to cross-border remittances. These two moves are more stable than anyone else's.
Don't forget, the SEC's dismissal of the lawsuit in March was like giving XRP a 'golden ticket' — with the policy hurdle cleared, the road ahead can be smoother.
3. Should we bottom fish now or wait? Let me tell two types of people a hard truth.
Aggressive traders, listen up: the RSI indicator has dropped into the oversold zone, like a spring compressed to the bottom, suggesting a good chance of a short-term rebound. But don’t get too eager and go all in; try a small position at the current price, setting a stop-loss at $2.78 — if this level breaks, it indicates the main force isn't done yet, so run quickly! First, look to see if it can break $2.88, and if it does, then check resistance at $2.93.
Conservatives take note: don't chase the price, wait for the 'golden pit' around $2.6. This position is a strong support from late last year to early this year, having bounced back many times when it fell to this level. When it reaches here, build your position in three batches, adding with every 5% drop, with a target of first looking at $4 — this position is the center of fluctuation in the first half of this year, where profits are assured.
Finally, let me say something from the heart.
A sharp decline is not scary; what's scary is being run off by panic. This round of decline for XRP, on the surface, seems to be a collapse of market sentiment and a break of technical levels, but fundamentally, Ripple's ecosystem is still expanding, and policy benefits are still brewing.
Think about it, how much did Bitcoin drop before the ETF approval? And how fierce was the rise afterwards? If XRP gets the SBI dual-coin ETF, $5-$7 is truly not a dream.
Where do you think this drop can go? Should we act now or wait for $2.6? Let me know your thoughts in the comments, follow Brother Rui, and I'll send you real-time trading signals before the market opens tomorrow. Let's wait for this opportunity together!#亚洲家族办公室加密资产配置
