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Last week, the news that Ripple (XRP) entered the digital asset library (DAT) field triggered widespread discussion. Ripple is leveraging its powerful on-chain infrastructure to provide institutions and businesses with more efficient and seamless payment solutions. Although this news did not succeed in stabilizing the panic in the market, it increased the confidence of long-term investors and gave people more expectations for the future development of Ripple. At the same time, the continued shutdown of the U.S. government has forced the U.S. Securities and Exchange Commission (SEC) to delay the approval process for the XRP spot ETF, and market uncertainty has also intensified. Ripple’s funding moves fail to move the market Cryptocurrency analyst Maartun posted on X (original Twitter) that Ripple co-founder Chris Larsen has made more than $764 million in profits since January 2018. The analysis found that Larson's sales tended to occur near local market highs. He wrote: “While Larson continues to take profits, ordinary XRP holders are still suffering losses. ” However, there are also signs that the market may be turning a corner. Trader KriptoMessi noticed that the XRP Futures Taker CVD indicator has turned from bearish to bullish in the past few days, which means that buying power is gradually increasing.  He also pointed out that XRP’s market share (Dominance) is also expected to rebound from its lows since last year. It is worth noting that on June 21, 2021, about 30,000 Bitcoins (BTC) were transferred to exchanges for cash, but this did not prevent Bitcoin from subsequently rising to $69,000. This shows that Larsen’s XRP selling behavior will not necessarily prevent the price from rising. XRP falls into familiar consolidation pattern again  At present, the price pattern of XRP has once again shown a familiar trend - the high points are gradually lower, the low points are relatively flat, and the overall structure shows a "descending triangle" shape. As can be seen on the daily chart, the $2.5 to $2.77 range (marked in cyan) forms a clear area of imbalance, making a strong breakout unlikely in the short term. Although the overall trend remains bullish based on the weekly structure, XRP price appears to be at risk of falling below the $2.3 support level. Well-known analyst Ali Martinez also holds a similar view. He pointed out that once this support is broken, the next key target price will be $2. The Bitcoin bull market has entered the second half, and the community has opened limited-time benefits and distributed selected potential coins for free. Scan the QR code or search WeChat ID: BNB7768 to add an assistant and join the group layout immediately.  |
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