When capital, popularity, and infrastructure grow together, situations where prices are kept down for a long time are actually rare. The current #xrp has a flavor of 'surface calm, underneath gathering strength.'

On one side, the fundamentals are continuously strengthening: capital is flowing in, regulated products are launching, and the long-term narrative is becoming clearer; on the other side, the price has hardly moved. XRP is still hovering around $2.02, sitting within the 50% Fibonacci retracement zone, with volatility tightening, forming a typical ascending triangle.

The technical indicators are also intriguing. The RSI is hovering in the 40s, more of a 'hesitation' rather than 'weakening'; the MACD is continuously converging, approaching a golden cross, indicating that while momentum isn't strong, it hasn't collapsed.

More critically is the capital situation. XRP has recorded net inflows for 19 consecutive days, totaling about $16.42 million, but the price hasn’t taken off. This is usually not distribution but more like being slowly 'sucked away.' The spot XRP ETF launched by 21Shares (#TOXR ) is also increasing the entrance for compliant funds, but the market has yet to provide positive feedback.

The current market condition feels more like a test of patience rather than confidence. Momentum isn't strong, but the trend isn't bad either. If capital continues to flow in and chips keep getting absorbed, the price will eventually have to make a choice. It's no wonder some dare to shout out a bold long-term target of $27 — it may not happen immediately, but this game is clearly not over yet.#加密市场反弹