🌕 Gate Square · Creator Incentive Program Day 8 Topic– #XRP ETF Goes Live# !
Share trending topic posts, and split $5,000 in prizes! 🎁
👉 Check details & join: https://www.gate.com/campaigns/1953
💝 New users: Post for the first time and complete the interaction tasks to share $600 newcomer pool!
🔥 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,
[Price Trend Analysis]
1. Candlestick Patterns:
- 近期4小时K线显示价格在2520-2680区间内振荡,6月16日出现长下影线后反弹,表明低位有较强买盘支撑。
- The daily level has formed a "bottom-fishing rebound" trend, but there is significant resistance near 2618.
2. Technical Indicators:
- MACD: In the 4-hour period, the DIF and DEA are gradually converging, the green bars are shortening, and the bearish momentum is weakening; however, it is still below the zero line, and the trend has not fully turned bullish.
- RSI: Current value 49.3, close to the neutral zone, short-term oversold correction is complete, but has not entered the overbought area, need to pay attention to the breakout direction.
- EMA: The price is currently hovering between EMA7 (2593) and EMA30 (2589.8), with EMA120 (2574.3) providing strong support. The short-term moving averages are converging, waiting for a direction to be chosen.
3. Trading Volume:
- On June 17th at 08:00, the trading volume significantly shrank, indicating a strong sentiment of market wait-and-see.
- After a significant drop in trading volume on the previous trading day (June 16), a rapid rebound occurred, indicating strong support at low levels, but the upward movement lacks sustainability.
【Buy and Sell Points】
- Buy point one: 2570 USDT (close to the EMA120 support level, also at the lower boundary of the previous consolidation range, with strong buying pressure)
- Buy point two: 2545 USDT (close to the integer level near the June 16 low of 2524, historically has formed a rebound area multiple times)
- Long stop loss point: 2530 USDT (further confirmation of weakness after breaking below the June 16 low, timely stop loss exit is required)
---
- Sell point one: 2618 USDT (close to recent high and important resistance level, failed to break through after multiple tests)
- Sell point two: 2650 USDT (close to the psychological integer level of 2680, which was the morning high on June 17, possible selling pressure may occur)
- Short Stop Loss Point: 2665 USDT (A breakthrough of 2650 indicates a stronger trend, risk must be avoided)
Analysis based on data model inference does not constitute investment advice and is for reference only.