Brothers, let's talk about XRP's recent situation

On the technical side, the daily line has broken below the lower bound of the symmetrical triangle, and we need to keep a close eye on the $3 mark. If it cannot recover, looking down to $2.25 is also a possibility. However, the 4-hour chart looks like it wants to make a 'V-shaped reversal', but it needs to break through $2.99 to be considered a true rebound; otherwise, it's just talk.

In terms of indicators, the daily RSI is at 45, which is neither overbought nor oversold, so the short-term direction is still unclear. But the monthly RSI is at 73; if it can break through 80, it might replicate the huge surge of 2017, which is worth noting.

There has been significant movement from the whales, having sold 470 million XRP in the past 10 days, totaling about $1.32 billion, reducing their holdings to 7.63 billion XRP. It seems they want to cash in on their profits. However, there has been a net outflow of $32.68 million from exchanges, indicating that long-term players are taking advantage of the lower prices, but the selling pressure in the spot market is still suppressing prices, making it hard to rise.

In terms of operations, Brother Chen suggests going long around $2.882–$2.845 today, with the initial target at $2.944. If it breaks through, then look towards $3.015, but be sure to protect your position. #Xrp🔥🔥