Recently, I observed some interesting market changes. A group of participants has clearly shifted their operational mindset — they were mainly shorting various cryptocurrencies before, but now they are gradually closing those short positions and turning to long positions. Specifically, they have opened new long positions on BTC, ETH, SOL, XRP, and XPL. After multiple batch additions, the total accumulated position size has reached approximately $120 million. This strategic shift from short to long actually reflects an improving market participant outlook on the future trend. Such large-scale position changes often serve as a market sentiment indicator. If this mood persists, the prices of the related cryptocurrencies may find some support. It’s worth paying attention to subsequent developments to see if the market will follow these institutional moves.

The current trend of XRP is interesting because it looks eerily similar to the market movement in 2017. The left chart shows XRP's performance in 2017, while the right chart shows the current situation in 2026. Both periods experienced a prolonged consolidation—price repeatedly testing highs and lows within a range—followed by a significant correction, forming a descending wedge pattern. What happened after that rally in 2017? That’s the part worth paying attention to. Repetition of historical patterns often indicates that the behavioral logic of market participants is cycling. Of course, the current macro environment and liquidity structure differ from seven or eight years ago, but the similarity in geometric patterns itself is sending a signal to traders—the direction of the breakout may be determined very soon.