๐ $XRP /USDT: Whale pressure is increasing โ longs are set for a squeeze
๐ Current situation: XRP is trading at $1.3214. An attempt at a local rebound has completely failed: the price couldnโt break through the EMA(50) resistance and slid below the moving EMA(21). In the spot market, a net capital outflow of -6.96 million XRP has been recorded over the day, while large players are locking in profits.
โ ๏ธ Red flags on futures:
Leaders are exiting the market: Open interest has started to decline, and the OI-to-capitalization ratio has collapsed vertically downward. Big capital is closing longs.
Abnormal gap: The long/short ratio for retail accounts remains at peak 3.06 (everyone believes in growth), while large positions from top traders have been cut down to 1.74. The terminal is dominated by aggressive market sell orders from takers.
Elevated funding: The funding rate is 0.00935%, making holding longs too expensive.
๐ฎ Forecast: Without spot support and with overloaded margin longs, the asset is primed to drop. In the next few hours at the open of the US session, a sharp sell-off is expected down to the $1.2600 โ $1.2460 range, targeting liquidations of late buyers.
๐ Current situation: XRP is trading at $1.3214. An attempt at a local rebound has completely failed: the price couldnโt break through the EMA(50) resistance and slid below the moving EMA(21). In the spot market, a net capital outflow of -6.96 million XRP has been recorded over the day, while large players are locking in profits.
โ ๏ธ Red flags on futures:
Leaders are exiting the market: Open interest has started to decline, and the OI-to-capitalization ratio has collapsed vertically downward. Big capital is closing longs.
Abnormal gap: The long/short ratio for retail accounts remains at peak 3.06 (everyone believes in growth), while large positions from top traders have been cut down to 1.74. The terminal is dominated by aggressive market sell orders from takers.
Elevated funding: The funding rate is 0.00935%, making holding longs too expensive.
๐ฎ Forecast: Without spot support and with overloaded margin longs, the asset is primed to drop. In the next few hours at the open of the US session, a sharp sell-off is expected down to the $1.2600 โ $1.2460 range, targeting liquidations of late buyers.