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🔥 Day 8 Hot Topic: XRP ETF Goes Live
REX-Osprey XRP ETF (XRPR) to Launch This Week! XRPR will be the first spot ETF tracking the performance of the world’s third-largest cryptocurrency, XRP, launched by REX-Osprey (also the team behind SSK). According to Bloomberg Senior ETF Analyst Eric Balchunas,
The current price of Ethereum is $4410, fluctuating in the range of $4300-$4450, lacking strong trend momentum.
The daily chart shows a Evening Star pattern, which is a bearish reversal signal, indicating that the market may enter a correction phase. The 2-hour chart shows multiple peaks followed by pullbacks, with high points gradually descending, indicating short-term topping characteristics.
The 2-hour MACD momentum is weakening, indicating insufficient short-term upward momentum. Although the daily MACD still shows upward momentum, divergence risks must be noted. Currently, the price is still above the EMA7 and EMA30, and the overall bullish pattern has not completely changed; however, if the 2-hour EMA is lost, the price may further decline.
Consider shorting around the high of $4480, with a stop-loss set at $4550 and a target aimed at $4350; if the price drops to around $4330, you may consider going long, with a stop-loss set at $4280 and a target aimed at $4400. It is important to note that the cryptocurrency market is highly volatile and adjustments may be needed at any time.