$BTC just triggered a sudden price surge, fueling market excitement. However, XRP became an outsider, failing to catch up with the general rally, despite significantly improved market sentiment.
š¹ While BTC surged nearly 10% and ETH led the major altcoin with a 6.1% increase, XRP reacted very weakly.
XRP only slightly increased to $2.17 before quickly sliding back to $2.08. This 1-2% increase is insignificant compared to the market's explosive momentum.
RSI show weak buying pressure, On Balance Volume is declining, confirming that real money is not flowing into XRP.
šø $423M Wipeout The BTC jump caught trader offside.
Over $423 million in position were liquidated in the last 24 hours. Short positions suffered the heaviest losses, with $310.27 million wiped out compared to $113 million for Long position.
A coordinated buying wave with thousands of BTC order from large exchanges and whales triggered this surge.
š¹ Regulatory & Macro:
The US Office of the Comptroller of the Currency has just allowed bank to conduct riskless principal crypto transaction. This is a major boost to institutional confidence.
The market is holding its breath awaiting the Fed interest rate decision later today. While a rate cut is already priced in, the Fed hawkish tone could cause significant volatility.
$XRP is stuck behind while money flow into asset with clearer storie.
In your opinion, is XRP consolidating for a potential breakout, or has it truly lost it appeal to large investor?
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