Bitcoin surges, but XRP can't keep up
On Tuesday, Bitcoin (#BTC ) suddenly soared, driving the entire market higher, but Ripple (#xrp ) performed relatively weakly, raising concerns among many traders. The significant short-term increase in Bitcoin triggered a large-scale liquidation in the market, catching many traders off guard. Although overall market sentiment improved, XRP clearly lagged behind other mainstream assets, and this reaction is worth noting.
Mainstream assets rise in unison
A few hours ago, Bitcoin surged nearly 10% within an hour, while Ethereum (#ETH ) subsequently rose about 6.1%, and Solana (#sol ) increased by 2.32%. Bitcoin's strong breakout became one of the fastest market fluctuations of the day, also driving a short-term rise in the overall price. However, after the initial surge, prices gradually retreated, with most assets stabilizing within a narrow range of fluctuations, limiting future trends.
The reasons behind this surge may include a large influx of Bitcoin into exchanges and a large purchase by a whale. Additionally, the Office of the Comptroller of the Currency (OCC) clarified that banks can conduct 'risk-free principal' crypto transactions, which also provided short-term support to the market.
Investment analysts point out that although the market generally expects interest rate cuts, the actual impact on the market comes from future policy guidance, with investors betting that the Federal Reserve may signal a 'hawkish rate cut'.
XRP is performing unusually
Despite strong performances from BTC and other mainstream altcoins, XRP's gains have been noticeably limited. The price once touched $2.17 but quickly fell back to around $2.08, only about 1-2% higher than before the rise. Technical indicators show insufficient buying pressure for XRP, with RSI being low and OBV also on a downward trend, with demand showing almost no improvement.
A wave of liquidations sweeps the market
The sharp rise in Bitcoin triggered massive liquidations, with a total liquidation amount exceeding $423 million in the past 24 hours. Among them, Bitcoin shorts suffered the most significant losses, reaching $310 million, while longs lost about $113 million. In just the past hour, over $2.34 million in positions were forcibly liquidated, with the largest single liquidation order nearing $24 million (BTC-USDT trading pair), highlighting the intensity of market fluctuations.
Traders need to stay vigilant
The surge in Bitcoin is certainly exciting, but XRP's relative weakness reminds traders that uncertainty still exists in the market. The liquidation amounts are massive, and volatility remains high, so short-term operations need to be cautious. Traders should pay attention to key support levels and technical indicators, preparing to handle possible price fluctuations.
Overall, while Bitcoin leads the market and presents short-term opportunities, XRP's following strength is insufficient, coupled with risks from high leverage, the market still needs to remain cautious in the short term, and a conservative approach is advisable.#加密市场反弹
