Attention! XRP's sideways movement is about to make a big move! On-chain data has revealed the scheming tactics of the market manipulators—the concentration of chips is 65% in the hands of a few whales, this is a ticking time bomb!
The latest news is simply playing with the retail investors! Ripple just officially announced a cross-border payment test with Visa, and the price instantly surged to $2.38, but guess what happened? A certain whale immediately dumped 28 million tokens, crashing the price back to $2.30! After dumping, they placed a buy order at $2.28, executing a textbook-level high sell and low buy strategy, and the brothers who chased the price were left crying out in pain!
On the technical front, everyone is an actor! The MACD golden cross is as fake as it can be, with the bars as thin as toothpicks, indicating that the bulls are just bluffing. The moving average system is even more outrageous, with MA9 firmly pressing down MA10, and trading volume shrinking by 25%. The main players have long fled at high levels, and now this trading volume is not even enough to cover the leftovers of the market manipulators!
The scariest part is the on-chain data— the top 10 addresses control 47%, and the chip concentration has soared to 65%! What does this indicate? The market manipulators have made it clear: either violently push the price to collect short positions or directly wipe out the longs! Remember, old friends, the longer the sideways movement lasts, the more intense the breakout will be. Right now, this market is a gamble for life, it's either explosive gains or total loss! Brothers who want to enter must set proper stop losses; don't wait until the spike to start crying for help!
