XRP is now hovering around 1.002, and the $1 level has once again become a battleground.
First the conclusion: I’m neutral at this point. I won’t chase longs, and I’m not in a hurry to short either—I'll wait for direction.
What’s interesting is that the news flow is particularly lively. The headlines have been leaning bullish; positions from institutions like Wells Fargo and Millennium have been dug up, and there are rumors that Trump is going to meet Garlinghouse at the White House. ETF flows are also being discussed. In theory, this amount of information should be enough to push it up. But in the last 24 hours, the price is still red—it's stuck here and refuses to move.
This is what I care about most: there’s plenty of good news, yet the price isn’t giving feedback. On the contrary, on the spot side, net outflows over the past three hours are nearly $240 million. In the 12 sampled intervals, not even one closed positive. Large orders are also withdrawing, and sell orders on the order book are outweighing buys. Real money is moving, and it’s all “good news” on the mouth.
But it’s not that there’s no support below. On the derivatives side, the aggressive buy orders jumped more than double over 7 hours; longs make up about 70%. Big holders are still adding long positions, while the number of accounts is decreasing—so positions are becoming increasingly concentrated. On top of that, both RSI and MFI have reached the deep oversold zone, so it could bounce at any moment.
So this is a place where both sides are fighting hard. The technical structure is weak, with price still below the long-term moving average. Yet it’s deeply oversold plus big-holder positioning is biased long, supported by the news. Spot is distributing while futures just started to refill. Whoever breaks the $1 range first—above or below—that’s when the direction becomes clear.
Chasing longs here doesn’t offer good cost-effectiveness, and shorts also aren’t really comfortable. Let it choose its direction.
#xrp $XRP
First the conclusion: I’m neutral at this point. I won’t chase longs, and I’m not in a hurry to short either—I'll wait for direction.
What’s interesting is that the news flow is particularly lively. The headlines have been leaning bullish; positions from institutions like Wells Fargo and Millennium have been dug up, and there are rumors that Trump is going to meet Garlinghouse at the White House. ETF flows are also being discussed. In theory, this amount of information should be enough to push it up. But in the last 24 hours, the price is still red—it's stuck here and refuses to move.
This is what I care about most: there’s plenty of good news, yet the price isn’t giving feedback. On the contrary, on the spot side, net outflows over the past three hours are nearly $240 million. In the 12 sampled intervals, not even one closed positive. Large orders are also withdrawing, and sell orders on the order book are outweighing buys. Real money is moving, and it’s all “good news” on the mouth.
But it’s not that there’s no support below. On the derivatives side, the aggressive buy orders jumped more than double over 7 hours; longs make up about 70%. Big holders are still adding long positions, while the number of accounts is decreasing—so positions are becoming increasingly concentrated. On top of that, both RSI and MFI have reached the deep oversold zone, so it could bounce at any moment.
So this is a place where both sides are fighting hard. The technical structure is weak, with price still below the long-term moving average. Yet it’s deeply oversold plus big-holder positioning is biased long, supported by the news. Spot is distributing while futures just started to refill. Whoever breaks the $1 range first—above or below—that’s when the direction becomes clear.
Chasing longs here doesn’t offer good cost-effectiveness, and shorts also aren’t really comfortable. Let it choose its direction.
#xrp $XRP