XRP is all about the thrill today! Let’s take five minutes to understand the institutional strategies
Don’t be fooled by XRP’s spike to 3.65 this morning due to ETF hype, only to drop back to 3.62! This tactic of 'false breakout, real trap' is reminiscent of the script before last year’s Bitcoin ETF launch — seasoned investors know that good news often leads to bad outcomes!
1. Second-hand futures contracts, don’t get too excited!
The ProShares ETF launching this afternoon is buying futures contracts, not real tokens, which is like a supermarket selling strawberry jam instead of fresh strawberries. Institutions have already stockpiled:
Whale wallets hold a record 4.7 billion XRP
Founder Chris Larsen secretly transferred 8 million XRP to Coinbase this morning
It’s like a landlord shouting, 'house prices are going up' while putting the house up for sale, think about it!
2. Battle of longs and shorts at 3.65, keep an eye on these two signals!
Signal 1: The South Korean exchange Upbit bought 120 million dollars in the early morning, but the buying pressure this morning is as thin as paper — the current price is stuck at 3.63, like tiptoeing on a tightrope; one misstep could lead to a collapse!
Signal 2: Binance reserves have surged to 296 million XRP; last time this amount of stockpiling led to a 20% crash! Exchange stockpiling = air force reserves!
3. Operating guide:
Don’t chase at 3.67: The previous four breakouts were all smashed back down, place an order to short at 3.67, stop loss at 3.675 to prevent a spike.
If it breaks 3.62, add to shorts: This is a critical point for the bulls over the last five days; if it fails, it could drop straight to 3.55.
Spot traders, lay flat: If ETF flow breaks over 3.68, it may force a short squeeze to 3.80, but the probability is lower than a waterfall!
4. The exchange's ammunition is loaded
This morning there was a strange operation: At 10:15, a whale placed a buy order for 5 million XRP at 3.63, resembling a fishing trap! Coupled with the exchange’s reserves reaching 296 million XRP, after similar signals appeared in May, XRP plummeted by 20%!
5. Keep an eye on the European and American markets this afternoon
If ETF flow exceeds expectations, it may briefly squeeze to 3.80. But I bet on a decline — Ripple’s persistent selling pressure + exchange liquidation reserves, is the whale not going to crash the market, are they running a charity?
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