$XRP Today's Market Overview: Tug-of-War Continues, Awaiting Directional Decision
In the morning session, XRP opened low at 2.4326 and briefly surged to 2.4368, closing with a bullish candle. The intraday volatility has been corrected to 0.15%, with trading volume shrinking to around 120 million. The willingness to trade among bulls and bears remains low. The MA5 moving average has shifted down to 2.43, and the MA10 moving average has also pressed down to 2.41, reinforcing the bearish alignment of the two lines. The significant resistance above in the short term is at 2.44. The MACD dual lines are close to the zero axis and flattening out, with the histogram nearing a green reversal. The RSI is hovering around 48, showing a sideways stagnation, and the technical indicators continue to display a volatile pattern.
On-chain Selling Pressure + Macroeconomic Disturbances Suppress Rebound
On-chain data shows that this morning, a certain whale transferred 22 million XRP to Binance. Combined with the recent reduction in holdings of the top 10 addresses for XRP, which totaled a decrease of 120 million XRP, there are clear signs of loosening chips. Additionally, the latest statement from Federal Reserve officials regarding “inflation persistence exceeding expectations” has led the market to raise the probability of a rate hike in September to 42%, putting pressure on risk assets and making it difficult for XRP to gain independent momentum.
Afternoon Strategy: Defensive Counterattack, Focus on Key Levels
If the afternoon volume remains below 130 million, the price may repeatedly test the support range of 2.40-2.42. Contracts can be positioned for long orders below 2.38, with a stop loss set at 2.34. Spot holders should avoid bottom fishing on the left side; the weekly MACD is about to cross bearish, so maintain 30% of the base position and observe before the trend change.
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