XRP hangs by a thread at $2.10, is the bad news piling up or a sign of a rebound?

XRP's SEC delayed ETF approval + Ripple transferring $438 million has triggered market panic, but on-chain data shows that exchanges haven't increased their holdings, which may just be internal allocation.

The technical outlook remains bearish: the short position structure is clear, $2.10 is the line between life and death, if it falls below, we may see $2.00.

However, it is severely oversold, MFI has dropped to 16.8, there is short-term rebound potential, if it holds, it will rebound; if it breaks, it will plunge.