$XRP wow!! The buy-side orders are piled up like mountains; when it comes to主动成交, it's a uniform pattern of sell orders that crush—this layer of order book thickness is merely scenery set up for those chasing longs, not a moat. The bid-ask spread is tightened to the point of being dead, and the buy-side looks thick, yet actual real-money activity is all on the side doing the主动砸盘. The spot market has already been bleeding downward for 24 hours. Large spot orders have seen net inflows for multiple consecutive K-lines turning entirely black; over the past three hours, net outflow volume exceeds 100 million. Funds are being withdrawn from the system—this thick ‘buy’ layer in the book is just a prop to hold up appearances. The moment cancellations go out, the volume immediately surges and the price plunges.