The Currency analytics
By Sakamoto Nashi
XRP got hammered yesterday. The cryptocurrency fell 41% after smashing through the $1.88 support level that traders had been watching for weeks, confirming what analysts called a…
The drop caught pretty much everyone off guard, with XRP now trading way below what most considered safe territory.
The broader crypto market isn't helping XRP's cause either, with wild swings hitting most major tokens over the past week.
John Bollinger jumped into the conversation on February 5, warning traders about what's coming next.
But the real action happened on the exchanges.
Binance saw XRP trading volumes explode on February 4, with the surge coming right as the price started its nosedive.
CryptoQuant dropped some interesting numbers on February 6, showing massive XRP outflows from exchanges over the past 48 hours.
Ripple Labs stayed quiet when reporters reached out for comment. The company that created XRP didn't respond to multiple requests about the price crash, leaving investors to…
Social media went crazy according to Santiment's data. The blockchain analytics firm tracked a huge jump in XRP mentions across Twitter and Reddit over the past week, with most…
CoinMarketCap's rankings tell the damage story pretty clearly. XRP dropped several spots in the market cap rankings as of February 5, losing its position among the top-tier…
Mike McGlone from Bloomberg Intelligence tried to find some silver lining on February 6. "While XRP faces serious challenges right now, the broader crypto market has shown…
Lark Davis, a well-known crypto analyst, called February 5 a make-or-break moment. "The $1 support is absolutely critical for XRP," Davis said.
Kraken reported something that should worry XRP bulls: short positions jumped on February 6.
Glassnode's data showed one bright spot - active XRP addresses actually increased despite the price crash.