"The news is booming, and the technical aspect is shrouded in clouds — is XRP at 2.16 a desperate rebound or an entry to the abyss?"
News Aspect: Intensifying tug-of-war between bulls and bears.
Core Bullish Factor:
Canada's first XRP spot ETF XRP listed today, June 19, institutional entry channels opened, first-day capital movement serves as a barometer.
SEC delays final ruling on Franklin ETF to tomorrow, June 20, market bets on an approval probability exceeding 85%, which, if passed, will ignite buying.
Ripple and SEC ceasefire in legal battle until July 31, if 'programmatic sales are confirmed legal', long-term bearish sentiment will be completely cleared.
Key Bearish Factor:
Competitor Mutuum Finance attracted $7.6 million, retail funds are being diverted, short-term selling pressure continues.
Ripple's suspension of quarterly reports has triggered a crisis of trust, market worries about opaque operations are suppressing rebound momentum.
Technical Aspect: Bears in control, waiting for a change.
Trend Positioning: Current price 2.1616 closely touching the lower Bollinger Band at 2.1593, the four-hour chart shows a 'downward trumpet', with bears absolutely dominant.
Life and Death Signal:
MACD death cross deepens DIFF: -0.0117, DEA: -0.0078, both lines deeply trapped below the zero axis, green bars have not shrunk, downward momentum remains.
Bull-Bear Divide: If the volume breaks below 2.07, it will accelerate down to 2.00; if it rebounds and breaks through 2.25, one could consider a short-term long position to test 2.30.
On-chain currents: Unsettled option contracts increased by 11.5% week-over-week, large holders are positioning for a mid-term reversal.
"Is XRP at 2.16 a trap or a pie?"
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