XRP (CRYPTO: XRP) gained 7% over the past week, supported by broader market strength and growing speculation about a potential spot XRP ETF launch in the coming weeks.
Trader Notes: Crypto chart analyst Ali Martinez cautioned that the TD Sequential indicator has flashed a sell signal for XRP.
Cryptoinsightuk maintained a more optimistic outlook, noting that while XRP's short-term structure appears weak, the overall setup remains constructive.
He pointed out that downside liquidity is limited, suggesting that market makers may eventually drive prices higher to tap into deeper liquidity zones.
He also described the recent liquidation event as healthy on the weekly chart, with higher timeframes, including the 3-month, still looking strong.
The trader further referenced a past fractal indicating a potential measured move similar to the last time XRP's daily RSI entered oversold territory.
Statistics: According to Coinglass, XRP futures open interest surged to $4.46 billion as of Oct. 27 — the highest since Oct. 12. Over the past 24 hours, total liquidations reached $5.86 million, including $3.32 million in long positions as traders may have booked profit following the weekend breakout.
The REX-Osprey ETF surpassed $100 million in assets under management as of Oct. 23, less than a month after its debut.
Additionally, Evernorth Holdings, an XRP treasury firm, currently holds 388.7 million XRP with an average cost basis of $2.44, a level that could serve as a key price reference for Ripple's future moves.
CryptoQuant data showed that the company has already achieved 95% of its target accumulation.
Community News: NovaDiusWealth co-founder Nate Geraci hinted in a recent post that spot XRP, SOL, and LTC ETF filings are ready for launch, potentially within the next two weeks, as regulatory operations in Washington return to full swing.
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