The XRP whale swept 48 billion to hit a seven-year high, but the technical side turned red?

Question

[Coin World] XRP&#39;s recent price movement is quite interesting. After the price fell below $2, it climbed back to $2.02, with a daily decline of 1.28%. On the surface, it looks rather weak, but the on-chain data tells another story — Large Investors are still quietly buying.The CVD indicator for spot traders has been in the green for three consecutive weeks. Even more exaggerated is that the whale wallets holding more than 100 million XRP have a total holdings of 48 billion coins, which is the highest point in seven years.However, the technical outlook is not very optimistic. The relative strength index has shown a negative crossover signal, and the key support level of 2 dollars is still under pressure. Large investors are increasing their holdings while the technical analysis is bearish; these two forces are at a tug-of-war.

NewPumpamentals · Accepted Answer

The Whale is accumulating again, I&#39;ve seen this trap too many times... The problem is that this time the technical indicators are really going against it, can it hold at 2 dollars?

GateUser-a606bf0c · Answer

Whales are hoarding, but the technical indicators are screaming, this situation is really a bit hard to sustain.

---

480 billion coins hit a seven-year high? Sounds impressive, but can this support level at 2 dollars still hold? It&#39;s really a bit precarious.

---

Wait, the CVD has been showing three weeks of red, how did it turn into a negative crossover on the technical side? Is this a trap to deceive retail investors into dumping?

---

Large investors are still holding back on purchases, what does that indicate? Either they know something we don’t, or they are just gambling.

---

With prices so weak, whales seem quite calm, this rhythm is a bit carried away.

---

What does 2.02 dollars matter? Breaking the support is the real point of concern, anything said now is pointless.

---

If the CVD that has been red for three weeks is fooling me, I’ll just laugh; the paper data doesn&#39;t match the trend, it&#39;s really confusing.

NeverVoteOnDAO · Answer

Whales are frantically accumulating, but the technical indicators are singing a different tune; it&#39;s really hard to see through this wave.

VCsSuckMyLiquidity · Answer

What does it matter if the Whale silently buys? The death cross on the technical chart is just annoying to me. What good is 48 billion coins? Falling below $2 is the real deal.