I am Zhou Yi! XRP's one-hour chart is stuck, making people anxious! But do you know? Binance's XRP reserves have dropped to the lowest level in months—big holders are quietly hoarding coins and leaving! Is this a signal of ambush, or the calm before the storm? Don't worry, Zhou Yi will clarify things for you with technical analysis and news!
News Interpretation:
Recently, a large amount of XRP has flowed out of Binance, not due to market manipulation, but it has been transferred to cold wallets and is now 'lying flat'! This means short-term selling pressure has decreased, but the circulation has also diminished—once a large holder or institution enters the market, the price could soar like a rocket! But for now... it's not time to ignite.
Technical breakdown:
The 1-hour chart is currently stuck near the 1.8794 support and resistance level, with two pressures above: 1.9314 and 1.9851! Below, there are two support levels at: 1.8247 and 1.7709. Although the MACD has turned from a death cross to a golden cross, it is crawling slowly below the 0 axis, indicating that the rebound is weak and belongs to a 'feeble rise.'
Yijing perspective:
In the short term, the focus is still on shorting on rallies! If it reaches around 1.9314, you can try shorting with a small position, targeting the 1.8794-1.8247 range to capture a wave of pullback profits. If it breaks below 1.8247, then keep a close eye on 1.7709, which is the phase bottom suitable for ambushing a rebound!
Yijing advice:
If you currently hold positions, don't chase the rise, take advantage of the rebound to reduce your position.
If you want to catch the bottom, place an order near 1.7709 to ambush, and stop loss if it breaks below.
If you are trading short-term, short near 1.9314 with a stop loss above 1.9851.
The market is like fishing, you can't rush it! XRP is currently gathering strength, either breaking below 1.77 to create a golden pit, or breaking above 1.9851 to start a bull market—are you ready? Follow Yijing, I will issue entry signals in advance in the village to help you avoid traps and seize explosive opportunities!
Yijing publishes three strategies daily in the village. If you are not holding a position of 5 million, please follow Yijing's real-time advice in the village to avoid liquidation risks. The current market is unpredictable, and each villager has different positions, so please update the entry points announced by Yijing in the village in real time!#加密市场观察 $XRP
