The mysterious giant whale swept through 4.8 billion $XRP at 2.05! The main force layout is revealed!
Currently, the market trend of XRP shows a clear tug-of-war characteristic between bulls and bears.
After gaining strong buying support in the 2.036−2.068 range, the price quickly broke through the key resistance level of 2.245, but faced significant selling pressure when hitting the 2.300-2.328 area, peaking at 2.361 before rapidly retreating.
This rollercoaster market reveals three key market dynamics:
1. Key price range contest
The lower 2.036−2.068 area has triggered rebounds three times in a row, forming a demand pool, with large funds continuously accumulating in this area;
2.245−2.270 has become a watershed for bulls and bears, failing to stabilize after breaking through, leading to a rapid pullback;
The upper 2.300−2.328 area has a history of trapped positions, needing to increase volume to more than 150% of the daily average trading volume to possibly break through.
2. Main capital operation traces
On-chain data shows that there are about 240 million XRP institutional buy orders above 2.200, suspected to be hedge funds building positions;
When it dropped to 2.050, the long positions in the derivatives market increased by 23% against the trend, indicating that the main force intends to create panic washing;
The current horizontal position at 2.178, accompanied by a 12% decrease in open contract volume, suggests that some short-term funds have taken profits.
3. Technical conflicting signals
The 4-hour chart forms a head-and-shoulders bottom prototype, but the daily MACD is still in a death cross state.
Exchange reserves have dropped to an 18-month low, but the perpetual contract funding rate has turned positive, reflecting market divergence.
RSI has rebounded from the oversold zone but has not yet entered a strong area.
We need to be wary of the systemic risk that may arise from the Federal Reserve's interest rate meeting on May 8, as historical data shows that the volatility of XRP averages triples in the 48 hours before significant macro events.
With interest rate cuts approaching, I plan to publicly lay out a monster coin, expecting a tenfold increase in the short term and a hundredfold in the long term. The same market conditions, top strategies, follow along to witness everything.
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