XRP's recent market performance has been a mix of good and bad news. On one hand, the "Digital Asset Market Clarity Act" officially reclassified XRP as a network token, which means the regulatory black box has finally been opened—it's now under the jurisdiction of the CFTC, giving it a clear legal status.

Institutional funds are also flowing in continuously. The XRP spot ETF has already surpassed $1.56 billion in size, attracting incremental capital every week, and many large holders are taking the opportunity to accumulate more tokens. Additionally, new developments are emerging in the XRP Ledger ecosystem— the first prediction market, Axiom, has launched, and Ripple has obtained a preliminary EMI license in Luxembourg, expanding the imagination space for cross-border payments.

However, the technical side is sending a different signal. The EMA7 has fallen below the EMA25 and EMA99, and the MACD line is being pressed down by the signal line, all indicating short-term downward pressure. Elliott wave analysis is even more alarming—it's expected that after reaching around $2.28, the price may face a significant pullback, possibly dropping to the support level at $1.65. Fund flow data also shows a high concentration score just before large amounts of capital exit, suggesting some players might be offloading or cashing out profits.

So, the current situation is: the macro outlook is becoming clearer, but the micro technical signals are warning of potential risks.