XRP is on a tightrope at $1.33 and the big question is not whether it will fall, but whether institutions have let go to allow us, the retail investors, to bear the weight before the big jump in April. 🎢
What's up, family! If you have been looking at the XRP chart these last two days, you may have noticed that the price seems stuck with glue at $1.33. It tried to peek its head above $1.35 on March 28, but the market quickly gave it a stop and sent it back to base. What's really happening behind the scenes? 🧐
Here is where things get technical but interesting: the Coinbase Premium turned negative for the first time since January. In clear Spanish: usually, when big investors and institutions in the U.S. are buying like crazy, the price on Coinbase is higher than on other exchanges. But since March 23, that strength has disappeared. Right now, the momentum is not coming from the "big fish" on Wall Street, but from activity outside of the United States. We are at a moment where the support at $1.33 is the only thing separating us from a slip towards $1.30 or less. 📉
But beware, not everything is drama. Analyst Egrag Crypto detected a historical pattern in the 5-day chart that deserves a lot of attention. It is a crossover of moving averages (the EMA 21 crossing over the EMA 200) that has been seen before. Historically, after this crossover, a correction of about 14.6% comes... and right now XRP has fallen by 14%! 🎯
If history repeats itself like a little clock, the "floor" of this drop should form in about 20 days. The marked date on the calendar? Mid-April. That will be the moment of truth. If we manage to recover $1.60, the rocket will ignite again; but if we cross $2.05, we would already be talking about major leagues. That said, a lot of caution, because if we lose strength and fall below $1.15, the next important floor is down there at $0.93. 🛡️
The coin is in the air and the institutional flow has taken a break. Are the whales waiting for the price to hit bottom in April to re-enter fully, or are we facing a trend change that will force us to be much more patient?