$BTC was basically moving sideways today, while $XRP has fallen for three straight days on its own.
On November 4, XRP's daily candle closed at 1.305. It then closed lower for the next three days and is now around 1.153, down about 12% from that close. Meanwhile, BTC is still near 75,800, barely moving over the past 24 hours, while ETH and SOL are both posting slight gains.
▪️ $XRP 1.153 (24h -4.2%)
▪️ $BTC 75,857 (24h +0.2%)
▪️ Long accounts make up about 75% of XRP futures accounts, and the funding rate remains positive
What I find more concerning is that the price is falling while long accounts are overwhelmingly dominant. With this kind of setup, the crowded side often gets shaken out first. If the 1.15 area doesn't hold, we'll have to look lower for the next reference level.
Is this XRP move a catch-up decline, or an independent trend?
#XRP #BTC #CryptoMarketWatch
On November 4, XRP's daily candle closed at 1.305. It then closed lower for the next three days and is now around 1.153, down about 12% from that close. Meanwhile, BTC is still near 75,800, barely moving over the past 24 hours, while ETH and SOL are both posting slight gains.
▪️ $XRP 1.153 (24h -4.2%)
▪️ $BTC 75,857 (24h +0.2%)
▪️ Long accounts make up about 75% of XRP futures accounts, and the funding rate remains positive
What I find more concerning is that the price is falling while long accounts are overwhelmingly dominant. With this kind of setup, the crowded side often gets shaken out first. If the 1.15 area doesn't hold, we'll have to look lower for the next reference level.
Is this XRP move a catch-up decline, or an independent trend?
#XRP #BTC #CryptoMarketWatch