XRP ETF absorbed 300 million USD in a week, SHIB faces a critical support level test.

[Coin World] Last week, the performance of XRP's ETF was explosive—raising $289.2 million in a single week, a big pump of 324%, directly occupying one-third of the entire encryption ETP capital inflow. Interestingly, during this wave of capital frenzy, XRP's spot price was actually in a pullback, currently hovering around $2.03, a typical Reverse Indicator of “price falling while capital is buying the dip.”

On the other side, Phong Le, the CEO of Strategy, stated that the company will not easily sell coins unless Bitcoin's mNAV drops below 1 dollar and financing channels are completely cut off. The implication is that our ammunition stock is still full, and we are not worried about the current market volatility.

SHIB is quite subtle here. The opening price in December was at the $0.000008 level, and it is now facing a key support level test: if it cannot hold above $0.0000072, be prepared for a drop to the $0.0000060-$0.0000065 range; however, if the market stabilizes, there is also a decent rebound potential, possibly reaching the $0.0000105-$0.0000118 range.

XRP1.52%
SHIB2.5%
BTC-0.01%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • 5
  • Repost
  • Share
Comment
0/400
FloorPriceNightmarevip
· 12-03 16:06
Damn, this XRP move is really insane. The price keeps dropping but people are still aggressively buying the dip. I just can't learn this kind of operation. If SHIB can't hold this level, I'll have to buy the dip, otherwise it's really going to sink. That guy from Strategy talks a good game, but who really believes the stuff about the ammo stash?
View OriginalReply0
RugDocDetectivevip
· 12-02 07:27
XRP's recent ETF fundraising is really outrageous, the price is still falling while funds are BTFD, this is the institutions laying out their strategies. SHIB's support level feels a bit precarious, if it breaks 0.0000072, the space ahead might have to open up quite a bit. The CEO of Strategy sounds pretty assertive, "the arsenal is still full," alright, let's wait and see.
View OriginalReply0
rug_connoisseurvip
· 12-01 13:28
The ETF hype for XRP is really intense, but the price is actually falling, it's hilarious, isn't this just smart money quietly buying the dip? SHIB is now just a ticking time bomb, if it can't hold 0.0000072, it's really over.
View OriginalReply0
GweiObservervip
· 12-01 13:19
The recent ETF influx for XRP is really outrageous; the price is still falling while funds are pouring in like crazy. This is institutions quietly positioning themselves. On the SHIB side, things are a bit precarious; 0.0000072 is really a make-or-break line. If it breaks, we have to admit defeat. Strategy CEO sounds quite confident; with plenty of ammunition, they are indeed unafraid.
View OriginalReply0
NftBankruptcyClubvip
· 12-01 13:16
Wow, this wave of XRP is really pulling in a lot of money, the price is still falling but funds are pouring in... these institutions are not playing fair. Can SHIB hold this support level? It feels a bit precarious. What is this guy Strategy still talking about, saying the ammunition stocks are full? When the market falls again, we will know who is holding on. This reverse indicator is really incredible, price falls while money comes in... it’s a typical sign before the suckers are harvested. Damn, XRP has absorbed 290 million in a week, where is this money coming from... could it be that large investors are positioning themselves again? The probability of SHIB dropping to zero has increased again, the support level is about to break and is there anyone to catch a falling knife?
View OriginalReply0
  • Pin
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)