The recent data on the explosion ratio is a bit outrageous—277:1.

What does it mean? It means that the funds for short liquidations are nearly 300 times that of longs. After reviewing the position distribution across various exchanges, it is clear that the long positions are significantly higher, indicating that market sentiment has already taken a side.

What's even more exaggerated is that large short positions are being liquidated every hour, and the funds from these liquidations directly serve as fuel for the price surge. Combined with the alerts from on-chain monitoring tools, both spot and futures are experiencing net capital inflows simultaneously, and the timing is too precise to be characteristic of retail behavior.

On the technical side, the RSI has already surged to 83.7, staying in the overbought zone for a considerable time. According to conventional logic, a pullback should occur for adjustment, but precisely because of this, a retracement might be an opportunity window.

I am watching a few positions myself:
- The area around 2.165 is the main focus zone. If it returns here, we will consider entering in batches.
- The range of 2.1580-2.1650 serves as an alternative, in case the pullback is not deep.
- The stop loss is set below 2.0200; if it breaks below here, the structure may change.
- The target is to first look at 2.1866, then reduce positions in segments at 2.3200 and 2.4700.

The market under continuous pressure from short positions often has strong explosive potential, but the premise is to avoid misreading the direction. When a pullback occurs, take the opportunity, set your stop-loss, and leave the rest to the market.

Data can speak, but risk control is more important.

$XRP