“Is XRP staging a 'Squid Game' today? The whales are throwing down 'smoke bombs'!”
The five-minute K-line for XRP is more orderly than a square dance aunt, with the price stuck around $2.28, fluctuating up and down by 0.5% to play 'disco.' The Bollinger Bands have narrowed to the width of a single chopstick, with the middle band at $2.28 acting as a meat grinder for bulls and bears. The upper band at $2.30 is firmer than a pie chart drawn by a boss, while the lower band at $2.22 is filled with dense stop-loss orders, and the whales' control methods are as steady as if they were glued with 502 super glue.
The MACD double lines are glued to the zero axis, and the energy bars are shrinking thinner than the social circles of the socially anxious. This clearly indicates a 'fake maneuver drill' before the storm. On-chain data is even more intense—at dawn, a giant whale transferred 40 million XRP into exchanges, and right after the transfer, the price immediately poked at $2.28, resulting in a mere 0.09% fluctuation. The whales saved even the lunch money for the group actors, directly using the K-line to fool the retail investors like a PowerPoint.
1. News Front
The 'soap opera' between Ripple and the SEC has another update: regulatory hints suggest that XRP may be classified as a commodity. This move is akin to giving the crypto world a 'fast-acting heart rescue pill,' but it was immediately slapped in the face by on-chain data—at the same time, an anonymous address canceled the pledge of 120 million XRP into exchanges. This 'left hand sings bullish while the right hand smashes the market' tactic is even harsher than packing leftover food after a banquet. The perpetual funding rate for XRP on Coinbase has plummeted to -0.008%, with the protective fees paid by the bears being higher than the mafia's, turning the long-short game into a 'Squid Game' reality show.
2. Technical Front
The daily chart has revealed an inverted head and shoulders pattern; a breakout above the neckline at $2.26 could push it towards the $2.90 peak. However, the 4-hour chart has unfortunately formed a descending triangle, with $2.30 accumulating $150 million in trapped positions, and the whales have turned this range into 'Russian roulette.' The weekly EMA200 has firmly established a steel bottom at $2.18, and the realized price on-chain is 5.3% higher than the current price. This value gap feature is even more tempting than housing prices in Hegang, but the smoke bombs from the whales are thicker than Beijing's smog—good news from the SEC hasn't materialized yet, and whale transfers are already reeking of 'sickle flavor.'
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