The price of XRP is dancing on a technical tightrope of $2.02 that could determine whether we take off or if we need to tighten our belts a bit more. 📉 Although we come from a solid month with over 8% gains, the reality is that in the last 24 hours we have lagged behind compared to the rest of the market. While Bitcoin tries to keep pace, our favorite coin is struggling against very heavy 'bosses': the famous moving averages.
To be clear, the asset is trapped below the 50-day moving average ($2.02) and the 200-day moving average ($2.53). In the world of technical analysis, being below those lines is like trying to run underwater; demand feels weak and momentum, measured by the MACD indicator, has turned red. If we cannot close above that $2.02, brace yourselves because we could see a drop towards $1.91, where many traders have their protective orders ready to jump. ⚠️
The most curious thing about this moment is that on social media we are all super optimistic, but the institutional numbers tell another story. There is a significant "divergence": we have faith, but the trading volume is low, which means there isn't enough real strength (big money) pushing the price up. Furthermore, the market is in a "neutral fear" mode, and when people don't know what to do, they take refuge in Grandpa Bitcoin. BTC dominance rose to almost 59%, leaving altcoins like XRP in the waiting room. 🛑
We are seeing a very clear rotation of capital. Money is flowing out of alternative coins to seek the safety of Bitcoin, and this is evident as funding rates are dropping; basically, big players no longer feel as urgent to bet on the rise with leverage in XRP for now. The key in the coming days will be to see if we can defend that support of $2.02 while keeping an eye on whether Bitcoin holds the mark of $95,000. 🧐
Will the optimism of the community be enough to overcome the coldness of the graphs, or will we have to watch as capital continues to flow into Bitcoin before it's our turn to shine again? 🚀$XRP
