A Dogecoin (DOGE) whale recently offloaded significant portions of their DOGE holdings in an act of profit-taking. This action has negatively affected the meme coin’s price, which has been on a downward trend since then. Related Reading: Shiba Inu Partner Token Makes Waves On Leading US TV Station Dogecoin Whale Offloads 86 Million DOGE On-chain […]
XRP continues to show strength despite largely underperforming during the ongoing bull market. Interestingly, the crypto witnessed a surge in activity last week, with trading volume surging in tandem. Particularly, the trading volume saw an increase of over 80% recently. However, the boost in activity and trading volume has not necessarily translated into continuous price growth, as XRP is currently on a 13% percent correction from the $0.74 price level on Monday. Related Reading: Sell Sign Ignites Speculation: Solana Fate Hangs In The Balance? XRP Trading Volume Surges, But Will Price Follow? XRP witnessed a surge earlier in the week which saw it breaking out of a 6-year-long symmetrical triangle, prompting analysts to anticipate a continued price surge. During this period, the crypto witnessed a surge in trading volume from whales in particular, with large bouts of XRP leaving crypto exchanges. This bullish sentiment allowed XRP to cross over $0.74 for the first time in eight months, albeit for a short moment. This surge in price was short-lived, as XRP fell as low as $0.6 in the days after. However, a recent 80% surge in on-chain activity and trading volume has led to the price of XRP increasing by 4.45% in the past 24 hours and 2.2% in a seven-day timeframe. Volume spikes of this magnitude often occur before a price rally, therefore, this massive spike in volume has the XRP community speculating that a strong price rally could be on the horizon. Total crypto market cap currently at $2.5 trillion. Chart: TradingView Current Price Action: Can XRP Reach A New All-Time High? At the time of writing, XRP is trading at $0.6398. The crypto’s journey to a new all-time high is definitely not going to be an easy one, as it is now down by 83% from its current all-time high of $3.84. However, current market dynamics and various predictions from many crypto analysts indicate that the crypto might go on a surge of great magnitude in the near future. One of these is a prediction from analyst Jaydee, who noted that XRP’s recent breakout from the six-year trendline mentioned earlier could lead to a surge to $3 from the current price level. The major resistance level to watch is $0.74. XRP tested this level a few days ago but failed to close above it. If bullish momentum continues and volume stays strong, XRP could break through $0.74 decisively in the new week. If it does, the next resistance levels are at $0.82 and $1.5. Related Reading: Crypto Carnage: Over $800 Million Wiped Out In Market Plunge One of the few factors that could contribute to a strong price increase is regulatory clarity regarding XRP’s status, which could boost confidence from institutional investors. Notably, XRP’s non-security status seems to be gaining ground. The European Corporate Governance Institute (ECGI) recently published a research paper acknowledging this non-security status. Featured image from Pexels, chart from TradingView
A popular crypto analyst, identified as CrediBull Crypto on X (formerly Twitter) has unveiled bullish projections for both Ethereum and XRP. Doubling down on his previous XRP price prediction, the analyst has further affirmed that the cryptocurrency is poised to outperform Bitcoin and Ethereum in the upcoming 2024 bull run. Related Reading: Shiba Inu Partner […]
Amid the bullish sentiment around the crypto landscape, the Altcoin overall market cap has displayed positive strength as many investors and traders are throwing capital into several altcoins ahead of the bull cycle. Altcoin Market To Rally Toward $425 Billion Since Bitcoin has surged to a new record high, many cryptocurrency analysts anticipate a surge in the altcoin market cap. Rekt Capital, a cryptocurrency expert and trader, has shared a positive prediction regarding the altcoins market cap with the community on X. The expert analysis delves into the current state of the market and its potential to surge higher in the coming months. His projections came in light of the altcoin season index showing advancement, which suggests that its season is almost here. Related Reading: Crypto Analyst Projects $7 Trillion Market Cap For Altcoins – Here’s When According to the analyst, the market has been “redirected into the blue-circled testing area,” which was caused by rejection from the “red-circled circle zone.” However, the market has rebounded since then, indicating an increased interest from market investors. Furthermore, Rekt Capital noted that the market has surpassed the “$315 billion red line of resistance.” As a result, the red line resistance level has now been changed to a “new support level.” Due to this, the crypto analyst anticipates a surge to the “light blue circle” at the $425 billion threshold in the upcoming months. The post read: The red-circled area rejected the Altcoin Market back into the blue-circled retesting zone. Since then, the Altcoin Market Cap has recovered, broken beyond the red $315bn resistance, and turned recently into new support. Next is the light blue circle, over time. However, Rekt Capital also asserted in another recent post that the “$315 billion mark is still being retested by alts market cap new support.” It has been unable to move past it despite today’s double-digit declines on several altcoins. Even though the market is still retesting the aforementioned level, Rekt Capital is confident that it will “revisit the $425 billion resistance” soon. He anticipates the market revisiting the level before the Bitcoin Halving event, expected to take place in April. Alts Gains Are Sustable And Likely To Crash Chief Executive Officer (CEO) of Bitcoin technology firm JAN3, Samson Mow, has also shared his insights regarding the altcoin market. Despite anticipating a rise in the altcoin market, Mow highlighted that he expects alts to “crash in the upcoming weeks.” Related Reading: Altcoin Market Cap Break From “Wyckoff Accumulation Phase”: Will Ethereum, XRP Fly? According to Mow, alts have been monitoring the “increase in Bitcoin” after launching BTC Spot Exchange-Traded Funds (ETFs). However, altcoins do not possess “the $500 million to $1 billion” daily inflows seen with Bitcoin. Consequently, this should be the “major sign” that their gains “can not” be maintained. “MSTR has a $30 billion market cap, Solana is $73 billion. That is absurd. A correction is overdue,” he added. Featured image from Shutterstock, chart from Tradingview.com
Token Unlocks highlighted that Arbitrum will do a “Cliff Unlock,” where tokens are released in a lump sum at the deadline.
The new update expands CoinGecko’s API coverage to 2.2 million tokens across 2.5 million liquidity pools.