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XRP has made a big move recently. This week it has put on the "halo" of ETF, but the market does not buy it at all. These days, The price of XRP is like a bird trapped in a cage, it has been flapping in the range of 2.7-2.8, and today it fell by almost 4%. Every time it wants to rush to the price of $3, sellers come like a tide and push it back. I specifically checked the data and found that the funding interest rate on the Bybit platform has become negative. What does this mean? This shows that many short sellers are building positions crazily. They think XRP still needs to fall. Looking at the futures market again, the amount of open interest is as high as 7.3B, although this number seems quite bluffing, compared with when the big news about ETF first came out, the bullish enthusiasm in the market has obviously cooled down, and there is no longer the momentum to soar into the sky. There are also reports showing that nearly 70M funds have been withdrawn from the XRP market recently, and the money is running out instead of coming in. In my opinion, this is simply a typical "washing" operation in the cryptocurrency market. When major news comes out, prices should go up according to common sense, but XRP fell instead of rising. This is obviously someone who is deliberately lowering the price and trying to "wash" out those investors who are not determined. Now The key price range for XRP is 2.6-2.8. If it can't hold on to this position, it will be miserable next, and the price will probably fall all the way down. But if it can break through the 3 mark with real trading volume, then the real FOMO (fear of missing out) emotion will explode, and then the price may jump up like a rocket. Therefore, my view on XRP is clear: in the long run, the approval of the ETF is definitely a good thing, has a supporting effect on the price, and is a bullish signal. But in the short term, this market is a "fear zone", full of uneasiness and worry. those holding XRP investors should stay calm now. This market likes to toss everyone and test everyone's patience and determination before revealing the true trend. Really high-multiply opportunities are often only found on the chain. I have recently monitored the data on the chain and found that there is a demon coin on b'an alpha that has a potential no less than that of MYX. The expected potential is 20-50 times. If you want to keep up with the brothers who have witnessed this big wave, please follow the car below.  |
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