XRP Awaits a Catalyst to Resolve Its Market Conflict
The post XRP Awaits a Catalyst to Resolve Its Market Conflict appeared on BitcoinEthereumNews.com.
XRP long-to-short ratio on Binance dropped from 3.57 to 2.87 as traders cut bullish exposure. On-chain data shows whales sold 460 million XRP, while smaller wallets accumulated 130 million tokens. XRP chart displays a falling wedge, with potential 78% upside if confirmed, targeting $5.20. On August 21, the share of XRP long accounts among top Binance traders dropped from 78.12% to 74.15%, while shorts climbed from 21.88% to 25.85%, data shows. This pushed the long-to-short ratio down from 3.57 to 2.87 in less than 24 hours. In terms of open positions, longs stood at 65.98%, with shorts making up 34.02%, bringing that ratio down to 1.94, its lowest point in weeks. This adjustment signals significant caution as markets await Powell’s address at the Jackson Hole symposium. Related: All Eyes on Powell: The Three Scenarios for the Fed’s Speech and What They Mean for Crypto On-Chain Data Shows a Divided Market On-chain data indicates wallets holding 10–100 million XRP sold about 460 million tokens in the past week, contributing to a nearly 6% price decline. Meanwhile, smaller wallets with 1–10 million tokens accumulated 130 million XRP in the same period. This divergence underscores the mixed sentiment across different investor groups. Institutional holdings have also weakened, with the largest wallets cutting exposure by almost 80%. Futures open interest fell from $10.9 billion to $7.5 billion, while the broader long/short ratio dipped below 1. The price has broken beneath both the 20-day and 50-day moving averages, forming a descending triangle pattern that could push the token toward $2.40 if confirmed. XRP Forms Falling Wedge Pattern Ahead of Breakout Despite the bearish sentiment from traders, the XRP price chart on the four-hour timeframe shows a clear “falling wedge” pattern. This is a bullish technical formation where the price moves between two downward-sloping, converging lines,…
Filed under: News - @ August 22, 2025 3:22 am