Coin friends, the God of Wealth is watching $XRP this trend and feels something is off. The price looks like it should fall but doesn't, and the news says there are "accumulation signs." Who should we trust? Follow the God of Wealth, and today I will peel back the data for you to see clearly what tricks the main force is playing!
News: The "underlying currents" are calm.
Recently, the news about XRP has been quite contradictory: on one hand, it says the price is testing the lower channel and showing "accumulation signs," with trading volume decreasing; on the other hand, the open interest has surged by 4.33%! What does this indicate? It shows that large funds have not exited the market but are quietly increasing their bets, as they are betting on a significant directional breakthrough. Combined with the price stuck at the critical level of 2.01, this is like the calm before a storm—it's either going to rise or brewing for a larger drop.
Technical aspect: Weak rebound, continuation of decline.
From the chart, XRP is currently in a very awkward position:
The price is pressed below the critical level of 2.01 and can't even touch the pressure level of 2.056.
Technical indicators from 1 hour to 1 week are all 'sell' signals, and the energy is also shrinking.
The only good news is that the monthly line is still 'buy', but this doesn't save the current sharp drop.
This indicates that short-term bears are completely dominant, and every small rebound is just to fall better. The support level of 1.94 is currently the last line of defense, and once it is broken, panic selling may emerge.
Ruishen shares daily insights; if it helps you, you can follow Ruishen to get first-hand information and entry points in the chat room!
Ruishen's viewpoint and strategy: Go with the trend, don't guess the bottom.
Ruishen's judgment is very direct: The downward trend of XRP hasn't changed, looking bearish in the short term, don't rush to catch the bottom. Before breaking through 2.056 with volume, all rises are seen as opportunities to escape.
Advice for holding positions: Focus on the 2.01-2.056 area. If it rebounds to this area and can't break through, decisively reduce positions. If it directly breaks below 1.94, consider stop-loss; don't hold on stubbornly.
Advice for observation: Keep your hands off! In a downtrend, not catching falling knives is the first principle. If you really want to lay out, wait for two situations: one is to stabilize below 1.94; the other is to break through 2.056 with volume and hold steady. Don't take action without a signal.
Don't be fooled by terms like 'absorb' and 'build bottom'; in the cryptocurrency circle, price trends are the biggest truth.
Crypto friends, remember one thing: When the market is discussing 'whether it is the bottom', it often is not the bottom. The real bottom is when no one cares anymore.
If you don't know the specific entry timing and exit points, and for those holding positions, you can follow Ruishen, who will announce the daily cryptocurrencies, entry points, and exit timings in the chat room! #山寨季何时到来？
