#XRPUSDT UPDATE
Binance Smart Money is shifting its sentiment on $XRP from EXTREMELY BEARISH to BEARISH. Even more interesting, they're reducing their short positions.
The bears are slowly losing conviction.
Here's why I'm watching $XRP closely:
1️⃣ The Weekly FVG has officially been filled.
2️⃣ $XRP is still trading inside its 3-Month Bull Flag. The bigger bullish structure remains intact.
3️⃣ Funding rates show shorts piling into the market. A potential short squeeze could be building.
4️⃣ Long positions remain relatively sideways, not yet ticking upwards. Once that changes, we could see a shift in positioning and momentum.
5️⃣ The MACD shows signs of seller exhaustion, with a bullish crossover potentially approaching.
Put all these pieces together and the setup gets interesting.
The bears are getting crowded, smart money is reducing its bearish exposure, and the bigger bullish structure is still alive.
Sell the bottom at your own peril. 🐂
#XRPARMY #UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax #HKDollarStablecoinHKDAPToLaunchOnSolana #$1.5BInLeveragedCryptoBetsLiquidated
Binance Smart Money is shifting its sentiment on $XRP from EXTREMELY BEARISH to BEARISH. Even more interesting, they're reducing their short positions.
The bears are slowly losing conviction.
Here's why I'm watching $XRP closely:
1️⃣ The Weekly FVG has officially been filled.
2️⃣ $XRP is still trading inside its 3-Month Bull Flag. The bigger bullish structure remains intact.
3️⃣ Funding rates show shorts piling into the market. A potential short squeeze could be building.
4️⃣ Long positions remain relatively sideways, not yet ticking upwards. Once that changes, we could see a shift in positioning and momentum.
5️⃣ The MACD shows signs of seller exhaustion, with a bullish crossover potentially approaching.
Put all these pieces together and the setup gets interesting.
The bears are getting crowded, smart money is reducing its bearish exposure, and the bigger bullish structure is still alive.
Sell the bottom at your own peril. 🐂
#XRPARMY #UniswapA16zSeekDeFiExemptionFromIllinoisCryptoTax #HKDollarStablecoinHKDAPToLaunchOnSolana #$1.5BInLeveragedCryptoBetsLiquidated
