【Watched XRP for half a day, this trend doesn't look like it came from retail investors casually jumping in】
In the afternoon, the time has passed halfway, and XRP is quite restrained in its movement.
The overall market hasn't seen much significant action in the past few days, but this line of XRP is somewhat interesting. The current price is hovering around 1.93, with the RSI staying at 54.5, neither up nor down, as if waiting for some signal. The bulls are dominant, but don't you think it's rising particularly 'steadily'? It's not that kind of crazy spike driven by retail investors chasing high prices, but rather a rhythmic push, with each small rally having support, and the pullbacks aren't deep, with the lowest just testing 1.90 before bouncing back. This kind of trend, I don't really believe it's purely driven by emotion.
One possibility is that it will continue to grind a bit, digesting a few more points before finding an opportunity to break up in one go. After all, the RSI hasn't entered the overbought territory, and the bullish momentum still has room, as long as it doesn't drop below that early session low, the structure can be considered healthy. If there are some positive news from the external environment, like some compliance progress popping up, it might just surge along with the momentum. I've seen this kind of movement a few times, and it usually ends with a slow buildup turning into a rapid attack.
However, another situation cannot be ignored—this position being neither up nor down could also be a trap for the bulls. You see, the trading volume hasn't significantly increased, and the market's attention is actually quite average. If a strong attack were to happen, it should be more decisive. If in the next few days the market starts to fluctuate and XRP gets stuck at this position without moving up, then we need to be careful as it might turn into a sideways trap. Once the bulls run out of patience, there could be a wave of concentrated stop-loss selling, and at that time, 1.88 or even 1.85 might be tested.
So, I'm just holding my position and watching the show, not adding or reducing. If it truly breaks the key resistance and stabilizes, then I'll consider adding a bit; if it suddenly drops down, it might actually be an opportunity for a mistaken low buy. Experienced traders know that the scariest thing is to see a line 'seem to be moving' and jump in, only to be cut by liquidity. This XRP trend doesn't look like it just casually came out, there’s someone controlling the rhythm behind it, so let’s not rush and wait to understand before acting.
