Big G's XRP market prediction
Brothers, this recent XRP trend is quite exciting! Let me talk about the upcoming movements, combining the latest dynamics and the market!
Key short-term levels:
Recently, XRP has been fluctuating around $2, dipping to $2.07 in early May, but last week it suddenly surged by 10%, reaching $2.59, with a market cap soaring to over $150 billion, directly surpassing USDT to become the third-largest. Now, we need to keep an eye on two positions: the strong support at $2.05 below, which if broken could lead to $1.5; above, if it can stabilize at $2.3, the short-term target is $3, not far from the historical high of $3.84.
Positive factors:
Expectations for SEC settlement are rising: Ripple and the SEC's five-year lawsuit is finally about to sign a settlement agreement. Although it hasn't been officially announced yet, institutions have begun to bet. In the past, every time there was positive legal news, XRP would soar; if this really materializes, it will definitely be a major catalyst.
Whales are buying in bulk: large holders have been active recently, moving $175 million worth of XRP just in May, clearly hoarding for an explosion. Additionally, Ripple has signed a $50 million agreement with a pharmaceutical company, signaling institutional entry.
Signs of technical breakout: Analyst Dark Defender has announced that the 'head and shoulders bottom formation has taken shape.' If it stabilizes at $2.6, it could replicate the bull market of 2017, aiming for $3 in the short term, and even $36 in the long term. Although it sounds mystical, the technical analysts believe this.
Risk Warning:
ETF delay is a setback: The review of XRP's ETF in the U.S. has been postponed to June, making funds hesitant to enter heavily, and it may continue to fluctuate in the short term.
The Fed is making moves: if they send hawkish signals after their meeting in the next few days, the entire crypto market will shake, and XRP won't be able to stand alone.
Summary:
XRP is currently under pressure above and has support below, but in the long term, Ripple's cross-border payment ecosystem and institutional partnerships are quite stable. If it can break through $3 before June, reaching $5 in the second half of the year is not a dream; if it falls below $2, don't rush to buy the dip, wait for stabilization first. In any case, those holding spot can be calm, while those trading contracts must be cautious with stop-losses!$XRP #策略交易
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