Friends, something big has happened! On the XRP side, the news and technical aspects are directly 'clashing'; a huge positive news meets a cold market, who should we listen to? Don’t worry, Bai Yue will help you clarify!
News: Giants are crazily stockpiling with 'real money'!
Recently released hot news, traditional financial giant Franklin Templeton updated the data, and their XRP spot ETF has, for the first time in history, surpassed a holding of 100 million coins! Worth nearly 200 million dollars. The total asset scale has also reached 183 million dollars.
What does this mean? Simply put in one sentence: Large institutions are continuously buying and locking up XRP with real cash! This is not short-term speculation; this is serious long-term positioning. For XRP, the influx of institutional funds at this level acts as a stabilizing force, supporting the bottom and uplifting the future. This news, in the long run, is definitely a calming and positive signal.
Technical aspect: This level right now is a bit tough to get through!
However, let's take another look at the current market, and the situation isn't as passionate; it even feels a bit 'overly calm'.
Awkward position: The current price is hovering around 1.9039 USD, which is a critical level marked directly on the chart as 'key level'. It serves as a temporary 'judging seat', where both bulls and bears are taking a break.
A mountain pressing down: Going up, we will soon encounter the 'rebound pressure' at 1.9880, and above that is the stronger 'high pressure level' at 2.1250. Want to rise? It takes quite a bit of effort to push up layer by layer.
Indicators are weak: The MACD below, with both the yellow and white lines lying below the 0 axis, is a typical bearish area signal, indicating that the momentum for a short-term rise is very weak. What's more troublesome is the 'shrinking volume'; both buyers and sellers are on the sidelines, and with low trading activity, it’s hard to see significant improvements in the market.
There is a retreat below: Of course, it's not completely unprepared. Below, we have marked the 'target support' at 1.77 and 'bottom support' at 1.67. In case of a drop, these places may see some bullish resistance.
Operational thoughts and suggestions
Focus on the key level: Let this current key level of 1.9039 be the short-term barometer. If it can stabilize above and increase in volume, there will be a chance to challenge the pressure at 1.9880. If it continues to fail to rise and instead breaks below, it may look for support again in the short term.
If you are optimistic about the long term, you can consider gradually investing small amounts near the important support area around 1.77 to pick up some cheap chips. If it rebounds but cannot break through the upper pressure level of 1.9880, those heavily invested may consider reducing some positions to lock in partial profits.
Bai Yue's personal opinion:
The current situation is a fierce confrontation between 'optimistic long-term outlook' and 'weak short-term trend'. The massive buying by the Franklins has sealed off the space for a deep plunge, giving long-term holders a sense of security. However, technically in the short term, bears indeed have the upper hand, and market sentiment is low, requiring time to digest and accumulate strength. Therefore, don't rush blindly at good news, nor be scared into selling everything at bearish technical signals. What matters now is rhythm and patience. Those unsure of how to time the market can follow Bai Yue, who will provide real-time analysis in the village and give the best entry points.
For more detailed positions and operations, find Bai Yue. Specific ambush points will be announced in the village! I not only provide signals but also teach you how to combine technical analysis and news to make your own judgments about opportunities, avoiding being a victim!
