XRP (CRYPTO: XRP) has printed a TD Sequential buy signal on the 3-day chart, but analyst Ali Charts warns the signal is likely short-lived as whales have offloaded roughly 60 million XRP over the past week.

The Buy Signal Is Real But Whales Are Not Buying It

The TD Sequential indicator on the 3-day chart historically anticipates a one to four candlestick rebound, offering short-term relief from compression rather than a trend reversal.

The problem is that on-chain data contradicts the bullish read. Overall large-scale whale activity on the XRP network dropped 57.3%, and the few large entities still active are actively distributing rather than accumulating.

“Instead of absorbing circulating…

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Bitcoin held above $63,000 as cooler-than-expected inflation data eased concerns over aggressive Federal Reserve tightening, helping lift sentiment across the cryptocurrency market.

Notable Statistics:

Coinglass data shows 119,414 traders were liquidated in the past 24 hours for $303.20 million.       

SoSoValue data shows net outflows of $213.9 million from spot Bitcoin ETFs on Wednesday. Spot Ethereum ET’Fs saw net outflows of $35.6 million.

In the past 24 hours, top gainers include Audiera, Stargate Finance and DeXe.

Notable Developments:

Trader Notes:

Crypto chart analyst Ali Martinez says Bitcoin is nearing a breakout as it trades within a symmetrical triangle, with key…

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Recent Buyers Are Deeply Underwater With No Meaningful Bounce Yet

Glassnode’s Short-Term Holder MVRV, which tracks how much recent buyers are up or down on average, printed 0.81 at its low before recovering slightly to 0.83. 

The $78,000 to $82,000 accumulation cluster built during May is now broadly in loss. Meanwhile, only 3.3% of short-term holder supply is currently in profit against a four-year average of 55%, meaning more than 95% of recent buyers are underwater.

The selling pressure is building but has not hit the extreme that historically marks a true bottom. 

The loss realization indicator sits at -1.86, just one small step away from the -2 level that in past cycles has signaled…

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Institutional De-Risking

Speaking on Schwab Network’s Crypto Corner, Adam Lynch, director of equity research at the Schwab Center for Financial Research said Bitcoin ETFs have experienced approximately $1.7 billion in outflows over the past week and more than $5.4 billion over the last month.

Crypto investment products overall have recorded roughly $4.5 billion in outflows during the past three weeks.

The recent selling marks a sharp reversal from early May, when Bitcoin ETFs enjoyed a 10- to 12-day inflow streak.

“We think this is a bit of institutional de-risking,” Lynch commented.

He pointed to macroeconomic concerns including inflation, interest rates and geopolitical tensions…

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The Tom DeMark Sequential indicator that predicted Dogecoin’s (CRYPTO: DOGE) 31% crash from $0.113 to $0.078 in May is now flashing a buy signal as DOGE bounced 3% on Thursday.

The Same Indicator That Called The Top Is Now Calling A Bottom

Analyst Ali Charts flagged the signal on X, noting the May 7 sell signal preceded the 31% correction almost exactly. 

The same setup now points the other direction. Supporting the case, the daily SAR flipped bullish at $0.078, sitting below price and holding for two consecutive green days, the most constructive price action since April. 

On Tuesday, Ali Charts also flagged whale accumulation of over 200 million DOGE, adding further weight to the setup.

Benzinga