XRP Bags Getting Unloaded Mid Dip 😭
CryptoQuant contributor Arab Chain noted that Binance drove a ton of the drop, with open positions sliding to $423 million from $558 million in August. Bybit eased to about $291 million from $379 million while OKX ticked down to $107 million from $125 million. 📉 Lower open interest does not scream ongoing bearish vibes tho, it just means less derivatives exposure and traders repositioning rn. ✨ The shift lines up with XRP eating an 8% hit in the 24 hours after the Senate failed to push the CLARITY Act on September 15. 🚀 It slid from around $1.46 toward $1.27 with cumulative volume delta hitting negative 10.5 million. 👀 The latest CoinGecko data shows XRP chilling near $1.30 after basically flat 24 hours yet down nearly 7% over seven days and 5.5% in the last 14 days even while up over 30% in one month. Trading volume sits at about $3.6 billion after falling 39% from the prior day. 🌑Weekly Support Getting Squeezed Hard 📉
Analyst ChartNerd posted on X that XRP is hugging its weekly 20 EMA at $1.29 right now. A weekly close above could spark a rebound but below opens the door to more pullback. On September 10 he flagged $1.29 as the first spot to watch after rejection at the 50-period moving average. That level stings because the selloff killed an earlier bullish setup eyeing $1.70-$1.78 yet the loss of $1.34 shifted focus toward $1.26 per analyst Diana. The $1.24-$1.26 zone is under the microscope now with $1.14 to $1.10 and then $1.00 next if support cracks. The derivatives cooldown also trails XRP earlier 70% surge where 85 fresh wallets holding at least 1 million XRP popped up just two days before the August 17-21 run. ✨Just another echo from the void by iconofsin.eth 💖
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