Whales are shorting XRP and DOGE with large positions. Powell is expected to make important statemen

The atmosphere in the crypto industry has become increasingly tense recently. Several “big whales”—those who hold a large number of tokens—have started to short XRP and DOGE. It seems they are waiting for further statements from Federal Reserve Chairman Powell. Last Friday, when news of tariffs came out, the market was shocked. Fortunately, many mainstream coins rebounded strongly over the weekend, and they continued to rise on Monday. But before we could enjoy this progress, the market turned back against us—the entire market once again turned red, and investors became even more nervous.

The market went from red to green again.

Bitcoin (BTC) dropped by about 2.62% since yesterday, Ethereum (ETH) fell by 3.68%, and XRP’s decline reached 4.17%. This caused XRP to move further away from its key psychological level of $3. Currently, XRP is priced at around $2.48.

Among all the coins, BNB suffered the most severe loss—its value plummeted by 10.26% within 24 hours. The strong gains seen in the previous months now seem to have come to an end.

This sharp drop had significant consequences: BNB not only lost value but also had to give up its position as the third-largest coin by market value, with Tether taking its place as the leading stablecoin.

As for XRP, it has barely managed to maintain its upward trend over the past few weeks. This collapse however completely overturned all those hopes.

The whales are betting that XRP will continue to fall further.

What’s worse is that the actions of big investors indicate that market sentiment is deteriorating. According to on-chain data, crypto whales have started to heavily short XRP, betting that the price of Ripple will continue to decline.

Currently, the answer among institutions and major investors to the question of “whether to buy XRP at its low price” seems to be—no need to do so.

However, not only XRP is facing pressure due to corrections in its value; DOGE also suffers from similar challenges. Funds are beginning to seek new opportunities, and market focus is shifting rapidly.

The recently popular project Snorter has attracted a lot of attention. It’s an intelligent trading robot that can automatically find buying opportunities for meme coins on Telegram. So far, pre-sales of this project have exceeded $4.6 million, and investors are flocking to get a foothold in the next “coin boom”.

Major investors have become more cautious, fearing that upcoming policy announcements could have a negative impact on market sentiment.

Jerome Powell will speak today, and the market is waiting eagerly.

All attention is now focused on Jerome Powell, the chairman of the Federal Reserve. He will give a significant speech on macroeconomics and monetary policy in Philadelphia today. This speech could be a crucial turning point for the entire crypto market.

Investors generally believe that if Powell signals hawkishness, funds may once again flow out of risky assets. However, if he indicates easing policies, the market could experience a “rebound”.

This speech comes at a time when the United States is facing another tariff conflict with China. Digital assets have been under significant pressure recently. Additionally, the next interest rate policy meeting of the Federal Reserve is also approaching.

分析师因此预计，Powell 可能会在发言中透露美国基准利率的下一步走向。如果他暗示降息，可能会稳定 XRP 和其他加密货币的价格;但如果美联储推迟下一次降息，这可能会加剧加密市场的危机。