I’ll say the conclusion directly: at the position of $XRP , I’m leaning bearish—I really don’t want to take it, at least not right now.
It’s not because it’s dropped that I’m being stubborn.
It’s because when the market starts using “rate hike expectations” as the reason, risk assets are the last thing you want is that kind of coin that was basically propped up by sentiment first—then loosens up. $XRP just happens to look like that category.
I was on the subway on my way home and saw this message on my phone—almost missed my stop again.
Drawing charts all day is already exhausting. And at night I still have to watch this kind of chart… I’m really done with it 🥲
Look at its perpetual 24-hour trading volume: 1.74 billion dollars. That means a lot of people are in there and the sentiment is very full.
But the funding rate is only +0.0043%. That number isn’t high. It makes me feel like this isn’t the kind of strongly aligned bullishness where everyone’s on the same page. Instead, it feels like a lot of people are just hard-holding here, eyeing each other—watching whether the other side will run first.
And even more so, the open interest is still 329 million coins of $XRP sitting there as orders.
In a situation like this, if the broader market keeps weakening, those positions resting on the upside can easily turn into pressure. I’m not saying it will crash immediately, but it could easily turn into that grindy sideways-to-down drift that slowly wears people down—the kind that destroys your patience just watching it.
Honestly, even $BTC has already fallen below 79,000. The market sentiment isn’t in the phase anymore where “tell a story and people will buy it”.
And since $XRP is still sitting on top of a decent amount of contract heat, I’d be even more worried that it could be used first as a place to vent.
My own choice is to step back and stay mostly on the sidelines, leaning bearish. I’d rather miss a slice of the move than catch a falling knife in a spot like this.
DouDou just crouched on my keyboard. And when I look at it, I feel like it’s even calmer than I am 😂
The market is changing—what works today may not work tomorrow. $XRP #XRP
It’s not because it’s dropped that I’m being stubborn.
It’s because when the market starts using “rate hike expectations” as the reason, risk assets are the last thing you want is that kind of coin that was basically propped up by sentiment first—then loosens up. $XRP just happens to look like that category.
I was on the subway on my way home and saw this message on my phone—almost missed my stop again.
Drawing charts all day is already exhausting. And at night I still have to watch this kind of chart… I’m really done with it 🥲
Look at its perpetual 24-hour trading volume: 1.74 billion dollars. That means a lot of people are in there and the sentiment is very full.
But the funding rate is only +0.0043%. That number isn’t high. It makes me feel like this isn’t the kind of strongly aligned bullishness where everyone’s on the same page. Instead, it feels like a lot of people are just hard-holding here, eyeing each other—watching whether the other side will run first.
And even more so, the open interest is still 329 million coins of $XRP sitting there as orders.
In a situation like this, if the broader market keeps weakening, those positions resting on the upside can easily turn into pressure. I’m not saying it will crash immediately, but it could easily turn into that grindy sideways-to-down drift that slowly wears people down—the kind that destroys your patience just watching it.
Honestly, even $BTC has already fallen below 79,000. The market sentiment isn’t in the phase anymore where “tell a story and people will buy it”.
And since $XRP is still sitting on top of a decent amount of contract heat, I’d be even more worried that it could be used first as a place to vent.
My own choice is to step back and stay mostly on the sidelines, leaning bearish. I’d rather miss a slice of the move than catch a falling knife in a spot like this.
DouDou just crouched on my keyboard. And when I look at it, I feel like it’s even calmer than I am 😂
The market is changing—what works today may not work tomorrow. $XRP #XRP