XRP Spot Metrics Turn Positive Amid Price Weakness
- Spot Market Recovery: Analyst Amr Taha from CryptoQuant highlighted that XRP's Estimated Spot Cumulative Volume Delta surged from negative $42 million on May 12 to positive $406.6 million by July 7, indicating aggressive buyers have consistently absorbed available supply over the past two months, strengthening market demand signals.
- Diverging Exchange Performance: While Binance's spot market CVD improved from negative $212 million to negative $173 million, its perpetual futures market deteriorated, reflecting sustained sell-side pressure from leveraged traders, with CVD dropping from negative $48 million to negative $783.2 million.
- Cautious Leveraged Traders: Binance's Open Interest fell from approximately 255 million to 203.5 million between late May and early July, a decline of over 20%, suggesting traders are reducing leveraged exposure rather than opening new speculative positions, which could impact future market volatility.
- Market Structure Shift: The widening gap between improving spot demand and weakening derivatives activity suggests that if spot buying continues to strengthen while perpetual selling moderates, the market structure could gradually shift in favor of buyers, laying the groundwork for XRP's next significant market move.
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Technical Analysis for MAJOR
Technical Sentiment Analysis for Major (MAJOR). As of , Major (MAJOR) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 1 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for MAJOR stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, MAJOR is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Major (MAJOR) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.0277 | 0.0299 | 0.032 | 0.0342 | 0.0363 | 0.0384 | 0.0406 |
| Fibonacci | 0.0299 | 0.0315 | 0.0325 | 0.0342 | 0.0358 | 0.0368 | 0.0384 |
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