Category: Cryptocurrency News

XRP has shown recent gains on its price chart, allowing the altcoin to surpass a significant resistance level. Although the 1% increase over the past 24 hours may not be substantial, it has helped maintain bullish momentum. However, on a weekly chart, XRP has experienced minimal movement. Despite this, the technical outlook for the coin indicates bullish strength in the market. Buying strength has risen, and both demand and accumulation have turned positive, contributing to this technical outlook. The performance of XRP on its chart may be influenced by the movement of Bitcoin. Related Reading: Bullish Case For Litecoin Grows Stronger As LTC Halving Draws Close If Bitcoin continues to appreciate and reaches the $27,000 range, XRP may attempt to break through its immediate resistance. With buying strength recovering and demand potentially supporting the bulls, their position in the market could strengthen. However, if the price remains stagnant at its current level, demand might start to decline, causing the bulls to lose momentum. The increase in the altcoin’s market capitalization over the past 24 hours suggests that buyers have gained control over sellers. XRP Price Analysis: One-Day Chart At the time of writing, XRP was trading at $0.47. In recent trading sessions, the altcoin successfully surpassed the resistance level of $0.45. Sustaining this positive momentum, the next resistance level for XRP is expected to be at $0.48. If this level is cleared, it could fuel a rally towards the $0.50 mark. However, if the price retreats from its current level, it may invite bearish pressure, potentially causing the price to settle around $0.43. Notably, the volume of XRP traded in the last session was relatively high, indicating a lower selling strength in the market. Technical Analysis During the recent trading sessions, the altcoin not only made progress in its price movement but also saw a notable recovery in buying strength. The Relative Strength Index (RSI) being above the half-line suggests that buyers have taken control of the price action in the market. Additionally, XRP moved above the 20-Simple Moving Average (SMA) line, indicating that buyers were driving the price momentum. This shift in momentum was supported by an increased demand for XRP in the market. In line with other technical indicators, the altcoin has started to exhibit buy signals on the chart. The Moving Average Convergence Divergence (MACD), a tool used to assess price momentum and potential reversals, displayed green histograms associated with buy signals. This suggests that there is a possibility of the altcoin attempting to break through its overhead resistance level. Related Reading: When Is A Token Coming For Coinbase’s Base L2? Here’s What The Roadmap Says Furthermore, the Bollinger Bands, which indicate price volatility and fluctuations, remained parallel and wide. This indicates that the XRP price action is not expected to be constricted or range-bound. The upper band of the Bollinger Bands intersected at $0.48, highlighting this level as an important resistance level or price ceiling for the altcoin to overcome. -Featured Image From iStock, Charts From TradingView.com

According to one of the sources familiar with the negiotation, there “might be one or two small things they need to finish.”

In the world of crypto, the actions of large investors, known as whales, can often provide valuable insights into the market sentiment surrounding a particular digital asset. Recent data has revealed a common trend in the XRP market, as whales have been actively accumulating millions of tokens over a short period, particularly in the last three weeks. This surge in whale activity has sparked intrigue and speculation among crypto enthusiasts, suggesting a strong bullish sentiment toward Ripple’s remittance token. Whales Show Bullishness On XRP According to data shared by renowned crypto analyst Ali on Twitter, whales are making significant moves in the XRP market. Utilizing behavior analytics resource Santiment’s data, Ali highlighted the noteworthy accumulation of XRP by whales, which indicates their strong belief in the future prospects of the token. Related Reading: XRP Emerges As Top Performing Crypto With 55% Surge – Messari Report Over the past three weeks alone, these prominent investors have acquired 52 million XRP, representing an estimated value of over $22 million. Notably, the accumulation trend has been primarily observed among XRP whales, specifically addresses holding 10 million to 100 million XRP. This period of intense accumulation began on May 7, following a notable selloff pressure that occurred on April 12. During the selloff phase, Ripple’s token experienced a prolonged consolidation period, stemming from the temporary exhaustion of the rally before the latest move. However, the selloff eventually subsided, paving the way for the current accumulation trend witnessed among whales. What Drives The Accumulation  The sudden surge in XRP accumulation by whales has raised questions about what factors could be driving this bullish sentiment. While individual motivations may vary, several plausible explanations shed light on the underlying dynamics at play. One significant factor could be the anticipation of positive developments within the Ripple ecosystem, such as new partnerships or advancements in the adoption of Ripple’s token for cross-border transactions.  Last month, Ripple (XRP), Cardano (ADA), and several other cryptocurrencies received an adoption boost through a recently announced partnership between Binance Pay and CoinGate. This collaboration enables users of Binance Pay to make crypto payments to merchants powered by CoinGate. In turn, CoinGate merchants can facilitate Binance Pay payments during the checkout process. This new feature, which will be automatically activated, caters to various digital assets available on the Binance Pay platform, including Ripple (XRP), Cardano (ADA), and many others. Notably, such developments often drive demand for Ripple’s token, prompting investors to accumulate the token in anticipation of future price appreciation. Furthermore, the recent regulatory clarity surrounding Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC) may have also contributed to the increased confidence among whales. Related Reading: XRP Bears Prevail As Asset Retreats From Recent Highs As Ripple continues to make progress in the legal proceedings, the resolution of the case could potentially remove a major overhang on XRP’s market sentiment, paving the way for renewed optimism and investment. Meanwhile, following the accumulation of whales, XRP has shown an upcoming uptick. Over the past 24 hours, Ripple’s token has seen a 1% gain. The asset currently trades at $0.47, at the time of writing. -Featured image from Unsplash, Chart from TradingView

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More specifically, I am curious about some Eigen layer concepts. If anyone is able to answer a few questions that would be amazing! is Eigen layer going to allow validators to simply perform tasks such as data availability or oracle services, or will this also allow for new blockchains to be created entirely, that leverage…
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I am curious about some Eigen layer concepts. If anyone is able to answer a few questions that would be amazing! is Eigen layer going to allow validators to simply perform tasks such as data availability or oracle services, or will this also allow for new blockchains to be created entirely, that leverage Ethereum security?…
Read more

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