XRP’s 8% price hike and what 130 billion tokens had to do with itambcrypto • about 3 hours ago
XRP’s Age Consumed and NUPL readings could have interesting implications for XRP's short-term.
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Blockchain tracking platform Whale Alert has revealed the release of 400 million XRP tokens from escrow. However, the wallet from which these $213.9 million worth of Ripple-linked assets were released remains unknown. Is Ripple Behind the 400M XRP Unlock The unknown identity of the wallet is unlike usual XRP escrow unlocks that are usually done The post 400M XRP Just Unlocked From Escrow, Is XRP Price About To Skyrocket? appeared first on CoinGape .
Fantom (FTM) had initially reclaimed the $1 level back in March and expectations were that the coin would rise to $2. But that was before the market crash sent prices spiraling, and Fantom lost almost 50% of its value during this time. However, all hope is not lost of for the coin, as one crypto analyst expects a return of the bullish momentum as long as certain conditions are met. Fantom Searching For Support Crypto analyst MyCryptoParadise took to TradingView to share their analysis on the Fantom price and how it could see a recovery. After the price fell to $0.56, the altcoin began to look for support, which would serve as a bounce-off point, and the analyst revealed that the altcoin is actually getting closer to this support. Related Reading: Ripple Unlocks 1 Billion XRP From Escrow – How Will This Impact Price? For now, the support lies at $0.5679, which is the point that bulls need to hold to confirm a bullish breakout. Following a rejection at the $0.79 resistance, this point has become even more important to hold, as the FTM price searches for “renewed momentum.” “Should FTM successfully find support and bounce from this level, it could potentially form a double bottom pattern, with the neckline acting as resistance around the 0.798 mark,” the crypto analyst said, highlighting the importance of finding support. In the event of a breakout, the analyst expects at least a 100% move from here. The first major level to break it the $1 level, and then after that, the crypto analyst sees the price going as high as $1.2 as long as the trend is confirmed. Source: TradingView.com FTM Could Break Down Further On the flip side of this, the crypto analyst also identifies a scenario where the Fantom price could continue to break down. In the event that the altcoin is unable to find support above $0.56 and breaks through it instead, the bloodbath could continue. Related Reading: Crypto Analyst Says Bitcoin Must Hold Above $51,800 As ETF Outflows Trigger Crash The bearish continuation which the analyst sees in a situation like this will send the price below $0.5 eventually. The support for the FTM price then lies at the next Bullish OB area, which the crypto analyst identifies to be around $0.449. “💎 Reclaiming the support at 0.568 would be crucial for FTM to maintain its bullish momentum,” the analyst said. “Should FTM fail to bounce even after reaching the Bullish OB area, it would signal a bullish invalidation, indicating a continuation of the bearish trend.” Presently, the Fantom price is trending above support at $0.6641. However, it is down 3% in the last day with 10% losses in the last week. FTM price continues to recover | Source: FTMUSDT on Tradingview.com Featured image from Analytics Insight, chart from Tradingview.com
XRP Price Prediction: The downward trend in XRP’s price has paused due to strong demand at the $0.48 level. The daily chart features long rejection candles, underscoring buyers’ efforts to maintain this critical support level, which has resulted in the formation of two higher lows over the past three weeks. As the Bitcoin price exceeds The post XRP Price Prediction: XRP Eyes Major Reversal as Buyers Step In at $0.48 appeared first on CoinGape .
The cryptocurrency community recently witnessed a noteworthy event involving Shiba Inu (SHIB). Whale Alert, a prominent blockchain tracker, detected a substantial transfer of SHIB on May 2nd by Robinhood, a popular US-based investing app. An unidentified wallet, designated as -4D935, acquired two separate transactions of 875 billion SHIB each, totaling a staggering 1.75 trillion SHIB. The post Robinhood Moved 1.75 Trillion SHIB appeared first on Times Tabloid - Latest Cryptocurrency News, Bitcoin (BTC) News, Ethereum (ETH) News, Shiba Inu (SHIB) News, Ripple's XRP News .
XRP struggles in the market; experts debate its status as a viable investment
On-chain data shows that many old coins have moved on the XRP network recently, a sign that proved to be bearish for the coin last time. XRP Age Consumed Metric Has Registered A Large Spike According to data from the on-chain analytics firm Santiment, XRP has just observed a large movement of dormant coins similar to what the asset witnessed last month. The indicator of interest here is the “Age Consumed,” which shows “the amount of tokens changing addresses on a certain date, multiplied by the time since they last moved,” as per Santiment’s definition. Related Reading: Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die” When this metric has a high value, it means that a large number of coins previously dormant have finally been moved to the blockchain. Old coins are generally less likely to become involved in selling, as they belong to the more resolute hands in the market. As such, any large movements of these coins can be worth noting since it’s not an event that happens too often. The below chart shows the trend in this indicator for XRP over the past month or so: The value of the metric seems to have been quite high in recent days | Source: Santiment on X From the graph, it’s visible that the XRP Age Consumed registered a sharp spike at the start of this month, implying that some old hands have decided to break their silence. This latest spike has been quite massive in scale and has been reminiscent of another spike that was seen last month. Interestingly, this previous spike occurred shortly before the price of the cryptocurrency tanked 16%. Thus, the previous spike would have corresponded to some HODLers moving to sell their coins. It’s possible that the latest large dormant coin movement was also made for a similar purpose, and hence, it can prove to be bearish for XRP. Santiment points out that this may not be so after all, though, saying: There is an argument that this old coin movement is related to potential #buythedip interest from key stakeholders, and prices have been climbing mildly since this May spike occurred. While this dormant coin movement may turn out to be bullish this time around, there is another signal brewing for the asset that can also be something to keep an eye on. As highlighted in the same chart, the Total Open Interest for XRP, which keeps track of the number of derivative positions currently open on all exchanges related to the asset, has been going up recently. This metric is now at a 3-week high of $483.4 million, implying that there is a notable amount of speculation in the market right now. Historically, this has led to volatility in the price. Related Reading: Crypto Analyst Says Cardano “Ready For A Parabolic Bull Run,” Here’s Why In theory, this volatility can take the asset in either direction, but it’s worth noting that the crash last month occurred after the Open Interest hit extreme levels. So far, though, the indicator hasn’t quite yet reached the same highs. XRP Price XRP is yet to make any significant recovery from the crash last month as its price is still trading around $0.52. Looks like the price of the asset has been overall moving sideways since the plunge | Source: XRPUSD on TradingView Featured image from Kanchanara on Unsplash.com, Santiment.net, chart from TradingView.com
XRP Price Prediction: The downward trend in XRP’s price has paused due to strong demand at the $0.48 level. The daily chart features long rejection candles, underscoring buyers’ efforts to maintain this critical support level, which has resulted in the formation of two higher lows over the past three weeks. As the Bitcoin price exceeds The post XRP Price Prediction: XRP Eyes Major Reversal as Buyers Step In at $0.48 appeared first on CoinGape .
XRP Price Prediction: The downward trend in XRP’s price has paused due to strong demand at the $0.48 level. The daily chart features long rejection candles, underscoring buyers’ efforts to maintain this critical support level, which has resulted in the formation of two higher lows over the past three weeks. As the Bitcoin price exceeds The post XRP Price Prediction: XRP Eyes Major Reversal as Buyers Step In at $0.48 appeared first on CoinGape .
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