XRP Price Expectations Reset After Unrealistic Upside Claims
Ripple’s former chief technology officer publicly dismissed recent rumors that XRP could quickly reach $100. He said that markets usually set prices based on realistic expectations instead of extreme hypothetical outcomes. If traders really thought there would be such an upside, current prices would already show that.
Market prices around $1.66 show that people are not very confident in very bullish scenarios. The commentary calmed down the short-term excitement without hurting XRP’s long-term story. Instead, it strengthened a more realistic view that was focused on structural progress.
Leverage Flush Gets Rid of Extra Risk in the Market
XRP recently saw a sharp drop in value due to leverage and a general weakness in the crypto market. When the price dropped quickly into support, long positions that were too leveraged were forced out. This wave of liquidation changed positions and lowered the risk of immediate losses.
These kinds of flushes often get rid of weak demand, which makes prices more volatile. When leverage is gone, price action is more based on technical factors. This environment is better for stabilization than for steep declines to keep going.
Short Term Trend Remains Under Pressure On Lower Timeframes
XRP is still making lower highs on the 4-hour chart after weeks of constant selling pressure. The fact that it couldn’t stay above $1.80 confirmed that level as strong resistance. Since then, the price has moved toward the middle of the $1.60 range.
Even though the market is weak, the downward momentum has slowed down since earlier sessions. After the liquidation event, sellers seem less aggressive. This makes it possible for sideways movement or small relief bounces to happen.
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Momentum Indicators Suggest Selling Pressure Is Easing
The Williams %R indicator is close to being oversold after the recent drop. This means that sellers might not have enough room in the near future. In the past, these kinds of situations have often come before short-lived rebounds.
The Commodity Channel Index is still negative, but it has started to level out. This change suggests that the downside force is getting weaker rather than stronger. All of these signs point to consolidation, not breakdown.
Positioning Data Hints At Potential Short Term Rebounds
Funding rates have turned negative, which means that short positions now make up most of the market. When positioning gets too one-sided, the price often moves in the opposite direction. Short covering can cause short-term price increases.
But overall, the volume is still going down. Limited spot buying makes any bounce less strong. Rallies are likely to stay corrective unless demand picks up again.
Key Support And Resistance Levels Define Weekly Range
XRP needs to stay in the $1.60 to $1.62 range to avoid losing more money. This area recently stopped the selloff and is still an important support level. A breakdown would let prices go down to the $1.50 level.
On the bright side, there is still a lot of resistance between $1.75 and $1.80. This zone has turned down many attempts to recover in the past. If the price stays above $1.80 for a while, short-term momentum will change.
XRP Outlook Focuses On Consolidation Rather Than Breakout
XRP seems to be in a reset phase after a lot of leverage was taken away. This week’s moves up are probably not a sign that the trend is changing, but rather a correction. Buyers need to show that they really want to change things in a big way.
The price will change depending on whether support keeps getting bids. For now, the most common thing to do is sell into rallies. Expectations should stay low until volume goes up.
