Be cautious with XRP, these two signals are indicating an increased risk of decline:
1. Leverage funds retreat
XRP's leverage ratio on Binance has dropped to 0.36, the lowest in the past month. This suggests that large holders are reluctant to use leverage, sentiment is bearish, and the market is becoming conservative.
2. Net outflow of spot funds of $222 million
Funds are continuously flowing out, selling pressure exceeds buying pressure, buyers are unable to hold, indicating that investors are retreating.
If the support level of $2.71 cannot be maintained, it may drop to $2.50.
Only a breakthrough of $3.00 could lead to a rebound, with a target of $3.39.
Funds are leaving, confidence is waning. In the short term, if XRP does not have significant positive news, it is likely to continue to decline.
Here at Long Shao, I only guide you to preemptively invest in potential and promising popular coins, never wasting everyone's time on those with no prospects!