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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,
Looking back at the market at the end of September and early October in previous years, the bull market in mid-October during the 2023 interest rate hike cycle surged against the trend due to the explosion of public concept stocks. In September 2024, the first interest rate cut will take place, and the bull market will continue in October because the interest rate cut is favourable for the stock market and the crypto world. This week, I expect a three-week consecutive rise on the weekly chart to around 122,000, followed by a small pullback for two weeks after the interest rate cut, but it won't break the trend. Then, around mid-October, it will start a counterattack to break through the pressure around 15. This is not my imagination; one is based on historical cycles, and the other is that the US stock market also needs to rise significantly during the interest rate cut cycle. Institutions in the crypto world have accumulated a lot of Bitcoin and Ether, and the market makers have not left; the market has not ended. Trust me, at the end of September and early October, the more it falls, the more it is bought.
Buy horizontally, buy the dip, do not buy vertically; the selling point is at the boiling point.
Continuous small rises are real rises, continuous big pumps require exit.
A sharp fall with no volume is intimidation, a slow fall with higher trade volumes means to withdraw quickly.
A significant surge requires a pullback, do not dig deep pits and do not buy big.