The crypto world is quite lively today, with many coins starting to 'make moves': one is attempting to rebound but the on-chain data doesn't follow; another has a technical collapse and keeps falling; and yet another is seeing spot price increases, but DeFi collectively goes dark...

Let's take a look at what happened 👇

✅ XRP: The price has rebounded, but are the on-chain users fleeing? 🤔

First, let's talk about #xrp . It has indeed risen a bit recently - up 3.8% in the past 24 hours, currently quoted at about $2.25, and is about to touch the weekly resistance level of $2.29.

Moreover, the trading volume also exploded: expanded to $2.65 billion in 24 hours, up 180%. The derivatives side isn't bad either, with futures trading volume skyrocketing by 200%, reaching $4.8 billion. It looks like the market might be reversing?

But don't celebrate too soon, on-chain data tells us: the price has risen, but the number of users has decreased!

📉 Simply put: XRP has risen, but no one is really using it. Such 'hollow' increases often lack sustainability.

From a technical perspective, it is currently stuck around the middle Bollinger Band at $2.25. If it breaks through, the target is $2.42, and further up is $2.60~2.65 by the end of May.

But what if this wave fails? Then we might have to test the 2.08 or even the 2.00 round number.

⚠️ Bonk: Broke the neckline + death cross, is the puppy going to fall? 🐶

The meme circle #Bonk has not been doing well lately, dropping directly from the peak of $0.00002575 in May to the current $0.00001554, with a 'double top' pattern formed in between, which is the most dreaded signal for technical analysts.

It has now broken below the neckline at $0.00001830, and both the 50-day and 100-day EMA have been breached, with a small death cross and a flag-like downward structure appearing.

In translation: the technical indicators are all bearish signals.

Next, it may continue to probe downwards, with the target possibly at the psychological level of 0.000010. If it rebounds and re-establishes above 0.00001830, then the bearish logic would temporarily fail. But before that, don't rush to bottom-fish ⚠️.

🚀 TRX: Spot buying surged, driving the price up, but DeFi over there is 'sluggish'.

#Tron Increased by 2.53% in the past 24 hours, with trading volume also rising by 14%, breaking through $500 million.

Not only has the price increased, but the number of active users on-chain has also surged:

  • The number of daily active addresses surged from 2.8 million to 4.6 million, an increase of 64%.

  • The number of transactions soared to 11 million.

Doesn't that sound strong? But here comes the problem - although the spot is rising, the DeFi data doesn't follow 👇.

📉 This indicates that in the 'deep water area' (DeFi) on-chain, activity has actually declined. Many people are directly buying coins on the secondary market to push the price up, but not really participating in the ecosystem.

However, there are also data indicating that there are indeed quite a few buyers!

  • In the past 24 hours, there has been a net buy of $1.27 million on the exchanges.

  • This means that this wave of TRX may be a 'real' buying spree driven by spot retail investors.

But conversely: once the buying pressure disappears and no new funds come in, this wave of increase could easily turn into a short-lived rebound.

📌 Summary: Three coins, three states, how will you choose?

The more complicated the market situation, the more calm you need to be. Don't just look at the candlestick charts, pay attention to the on-chain data to see whether funds are flowing in or out; that is the key to the truth 📊.

📌 Reminder: The above is a sharing of views and does not constitute investment advice, DYOR (Do Your Own Research)! 😊

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