Is the US government secretly hoarding XRP? On-chain data reveals the whereabouts of 43 million chips, next target breaking 4 dollars!
When good news comes from space, the cryptocurrency market's engine is about to ignite! EchoStar, in collaboration with SpaceX, has its sights set on the global payment track; the XRP rocket is ready for launch on the launch pad!
Technical analysis:
At that time, XRP was at the typical end of a triangular convergence - the price oscillated between the support level of 2.8797 and the key level of 2.9910, with the volume bars continuously shrinking, indicating a change in trend is imminent.
The news of the agreement between EchoStar and SpaceX was like a fuse, directly igniting a breakout market.
I remember at that time there was a special reminder during the trading: 2.9910 is like the launch button for a rocket; once the volume breaks through, it will trigger FOMO emotions. Sure enough, the price surged to the resistance level of 3.080, reaching a high of 2.9389, fully validating the "key level breakout theory".
Personal opinion:
I experienced the XRP pulse market driven by SpaceX's satellite launches in 2021. The logic of such news transmission is very clear: first, pull up related US stocks, and within 24 hours, funds start to position in related cryptocurrencies. Currently, the volume bars have not fully expanded, indicating that most retail investors are still watching; this is precisely the window period for smart money to quietly position.
But be careful! If the price breaks through 2.9910 without sustained volume expansion, there may be a false breakout pattern. Remember our community's emphasis last week on the "three cannon shots" strategy - three consecutive 1-hour bullish candles stabilizing at the key level is the real signal.
What should retail investors do?
Short-term players need to closely monitor the support at 2.8797; as long as this position holds, they can gradually build their positions. After breaking 2.9910, chasing the rise must include stop-loss to prevent the main force from fishing. Brothers focusing on mid-term layouts should pay special attention to whether it can close above 3.08; this is a critical node for the weekly trend reversal.
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