A giant whale dumps 1.6 billion XRP into Binance, setting the highest record in the past three months. Seeing this, many people are preparing to bet on a massive crash.
But strangely, Binance’s actual XRP reserves only increased by 0.22%.
Huge amounts of chips entered the market but didn’t translate into inventory—suggesting these coins didn’t form a one-way sell-off, nor were they held in a dead grip. Instead, they were absorbed and quickly hedged out by buy-side demand right after being deposited.
Combined with the current net capital inflow being negative and any upward push being driven solely by liquidations of short positions, it indicates there isn’t truly fresh long-side participation taking control of the market.
Right now, XRP is a churn-and-grind battle where longs and shorts constantly cut each other. Until the liquidity settles, talking about one-directional big moves is just nonsense. Face the reality of high-volatility range trading, and don’t blindly chase alleged breakouts.
#XRP
But strangely, Binance’s actual XRP reserves only increased by 0.22%.
Huge amounts of chips entered the market but didn’t translate into inventory—suggesting these coins didn’t form a one-way sell-off, nor were they held in a dead grip. Instead, they were absorbed and quickly hedged out by buy-side demand right after being deposited.
Combined with the current net capital inflow being negative and any upward push being driven solely by liquidations of short positions, it indicates there isn’t truly fresh long-side participation taking control of the market.
Right now, XRP is a churn-and-grind battle where longs and shorts constantly cut each other. Until the liquidity settles, talking about one-directional big moves is just nonsense. Face the reality of high-volatility range trading, and don’t blindly chase alleged breakouts.
#XRP