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XRP price flags a bullish hammer candle as liquidations jump

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xrp price

The XRP price crashed to the lowest level since April last year as the crypto market plunged and liquidations accelerated.

Summary

  • XRP price crashed to its lowest level since April last year.
  • It has formed a hammer candlestick pattern, a common bullish reversal sign.
  • The coin will likely have a short-term rebound in the near term.

Ripple (XRP) token dropped to a low of $1.5000, down by 55% from its highest point in 2025, a plunge that has cost investors billions of dollars.

The token crash coincided with the ongoing crypto market crash that has affected the market. Bitcoin dropped below the key support level at $80,000, while most tokens have now plunged by over 50% from their all-time highs.

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XRP has crashed as many investors have started selling, and buyers have remained on the sidelines. The same is happening in the ETF market, where the spot XRP funds shed over $52 million last week and $40 million a week before that. These funds have now had over $1.18 billion in cumulative inflows.

XRP price also crashed as liquidations jumped. Data compiled by CoinGlass shows that the total liquidations in the crypto industry jumped by 357% in the last 24 hours to over $2.58 billion.

Ethereum liquidations jumped to over $1.15 billion, while Bitcoin positions worth $785 million were wiped out. XRP positions worth over $61 million were liquidated in the last 24 hours.

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XRP price also crashed as investors remained highly fearful. Data shows that the Crypto Fear and Greed Index crashed to the extreme fear zone of 18. In most cases, cryptocurrencies normally drop when there is robust fear in the industry.

XRP price technical analysis 

xrp price
Ripple price chart | Source: crypto.news 

The daily timeframe chart shows that the XRP price has crashed in the past few months, moving from a high of $3.6622 in July last year to a low of $1.500.

It crashed below the important support level at $1.7920, its lowest level in October, November, and December last year. A drop below that level is a sign the bears have prevailed.

The token remains below all moving averages and the Supertrend indicator. On the positive side, it has formed a hammer candlestick pattern, which consists of a long lower shadow and a small body.

A hammer is a common bullish reversal sign. Therefore, the Ripple price will likely resume the uptrend and potentially reach a high of $1.7920, up by 9% above the current level.

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Such a rebound will be a break-and-retest pattern, which is a common bearish continuation sign. A complete rebound will be confirmed if it moves above the 50-day moving average and the Supertrend indicator.

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Crypto World

NYSE Exchanges Remove Cap Limiting Crypto Options

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NYSE Exchanges Remove Cap Limiting Crypto Options

Two New York Stock Exchange-affiliated exchanges have removed the 25,000 contract position limit on options tied to 11 crypto exchange-traded funds.

NYSE Arca and NYSE American each filed three rule changes in the Federal Register on March 10 to remove contract position limits and price discovery restrictions for options linked to Bitcoin (BTC) and Ether (ETH) ETFs listed on their exchanges.

These were acknowledged by the Securities and Exchange Commission on Sunday, with the SEC waiving the standard 30-day waiting period for both sets of proposed rule changes, meaning they are now in effect.

11 crypto ETFs are impacted by the options rules changes on NYSE Arca and NYSE American. Source: SEC

The limits were imposed when crypto ETF options first started trading in November 2024. Limits of this nature are typically imposed to prevent market manipulation and volatility. T

The removal of those limits now puts them closer to how other commodity ETF options are treated, and gives institutions greater trading flexibility while also potentially boosting liquidity and making it easier to enter and exit positions. 

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It also allows the crypto options to be traded as FLEX options, which include customizable terms such as non-standard strike prices, expiration dates and exercise styles.

Related: Scaramucci says BTC’s 4-year cycle still in play, forecasts rise in Q4 

A total of 11 crypto ETF options are affected by the rule changes, including BlackRock’s iShares Bitcoin Trust (IBIT), Fidelity’s Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB).

Bitcoin and Ether ETFs issued by Bitwise and Grayscale are also affected.

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