Brothers, the current situation of XRP is really magical!
Look at this data, since the XRP spot ETF came out, it's really attracting capital! It has been entering the market for over 20 days, with capital inflow close to 1 billion USD, and the total scale exceeding 1.2 billion.
Logically, with so many large institutions and big funds buying, the price of the coin should take off, right?
But the reality is, XRP's price has now broken below the psychological barrier of 2 dollars.
What does this indicate? It indicates that large funds are quietly accumulating positions in the market, while retail investors are panic selling.
Let's look at the market, XRP is currently testing the daily support at 1.93. If it can't hold, the next level is 1.78. You should know that at the price of 1.78, there have historically been 1.85 billion XRP in trading, which provides very strong support.
If this level breaks again, the price may go to test the low point of 1.61.
But brother, let me tell you my opinion:
The 200-week EMA, which is the long-term lifeline, is around 1.4 dollars.
This wave of decline may very well be large funds smashing the market to force those uncertain retail investors to hand over their chips, which we commonly refer to as 'washing the盘'.
They are using the positive news of entering the market with ETFs as cover, while actually accumulating positions at low levels.
So, faced with such a divergence where institutions are buying and retail investors are selling, you mustn't panic.
If you are in for the long term, around 1.78 or even 1.4 is actually an excellent opportunity for you to build positions in batches.
The cryptocurrency market is always counterintuitive. When others are fearful, you need to open your eyes wide and see if the opportunity has arrived.
This wave of correction is not to make you afraid, but to make you get on the train.#加密市场观察 #美联储降息
