Altcoin
How Long Will XRP Price Rally Continue?
The XRP price surge is single-handedly contributing to the crypto market gains with another 12.25% surge in the last 24 hours, to $2.73. Thus, the altcoin has extended its weekly gains to more than 90% and monthly gains to more than 440%. The next question in investors’ minds is whether or not this price rally can continue ahead from here.
How Long Will the XRP Price Rally Continue?
With 440% in the month, this has been one of the longest XRP price rallies in nearly eight years. Prominent market analyst Income Sharks noted that the current streak has lasted for 4 weeks and 2 days, with growing optimism that XRP could continue this bullish trend for a fifth consecutive week. “Maybe this time we can make it to 5 weeks before the red candle comes,” the analyst remarked.
Popular crypto analyst CrediBULL Crypto believes that XRP rally can extend with another 100% gains moving all the way to $4.21. He shared an optimistic outlook for XRP, asserting that the token is in the midst of a significant upward movement. According to CrediBULL, XRP appears to be advancing well into its third subwave of a larger bullish structure.
“The second subwave was short and sweet, while the first subwave of the larger third subwave looks complete,” the analyst noted, highlighting that two more waves within this third subwave could drive XRP to surpass its all-time high (ATH).
Furthermore, the analyst also dismissed the notion of several people calling it the top for XRP. “In my opinion, we’re just getting warmed up. The ascent is going to be pure mania,” the analyst noted.
XRP Whale Activity on the Rise
The XRP price rally extended as the XRP whales purchased a staggering 160 million XRP, worth $380 million, during the last weekend.
XRP has reached its highest levels in nearly seven years, fueled by significant accumulation from wallets holding 1M-10M XRP. Over the past three weeks, these wallets have added 679.1M XRP, valued at approximately $1.66 billion.
Additionally, the total number of non-empty XRP wallets has surpassed 5.5 million for the first time in the coin’s eight-year history, reported blockchain analytics platform Santiment.
Ripple Unlocking $1 Billion Worth of Altcoin?
With Ripple’s recent unlocking of 1 billion XRP, the debate has once again sparked as to why Ripple is dumping XRP in the market. The parent firm currently holds 43% of the altcoin supply in the market.
However, it turns out that after Ripple unlocked 1 billion XRP from escrow three days before, it immediately locked 770M XRP coins for another five years. Analyst CrediBULL crypto noted:
“The “Ripple unlocks 1B tokens every month to dump on you” narrative has been repeatedly debunked so many times now that anyone still pushing that narrative at this point has to be doing it for engagement or is simply being willfully ignorant”.
The XRP price is currently trading 12.67% up at $2.73 with a market cap of $155 billion. Also, the daily trading volume has also surged by 54% all the way to $4 billion. The Coinglass data shows that the open interest is up 4% to $4.35 billion hinting bullish sentiment among traders.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto expert Egrag Crypto has again predicted that the XRP price could rally to as high as $27. The analyst has also revealed the exact timeline for when the altcoin could record this massive price surge.
Expert Reveals Time For XRP Price To Hit $27
In an X post, Egrag Crypto asserted that the XRP price can hit $27 in 60 days. The expert remarked that historical patterns indicate that the altcoin can reach this target within this timeframe.
Based on this price prediction, XRP could reach this $27 target by June, marking a 1,250% gain for Ripple’s native crypto. The expert’s accompanying chart showed that he was alluding to the 2017 bull run as to why the altcoin could record such a parabolic rally.
In 2017, XRP recorded a historic gain of over 60,000% as it rallied to its current all-time high (ATH) of $3.8 the following year. As such, based on history, a 1,250% increase is nothing for the altcoin.
In the meantime, the XRP price still boasts a bearish outlook thanks to the sentiment in the broader crypto market. As CoinGape reported, Ripple’s coin could drop to the next major support levels at $1.79 and $1.56 if it fails to hold above $2.03.
Decision Time For The Altcoin
In an X post, crypto analyst CasiTrades stated that it is decision time for the XRP price. She noted that the altcoin is showing strength with a bounce right back to the first key test at $2.17. She added that this is the resistance level she wants to see flip into support, as it might be the “most important price of the week.”
The analyst stated that XRP must reclaim this level to build momentum. She added that the $2 level remains a valid target if the $2.17 level rejects. Meanwhile, CasiTrades revealed that $2.70, $3.05, and $3.80 are the major resistance zones once the upward trend is confirmed.
The analyst also mentioned that the XRP price is now fully inside the Fibonacci Time Zone 3, which spans most of April. She affirmed that this is the breakout window market participants have been preparing for and that all signs point to a macro wave.
CasiTrades affirmed that the structure is clean. The RSI divergence has confirmed the bottom, while the subwaves are aligning well with the larger targets. If the next leg pushes XRP back above $2.17 with momentum, she claimed that market participants may finally see obvious signs of Wave 3. Interestingly, the analyst added that if the altcoin clears $2.70 this week, it may break the $1,000 price extension.
For now, investors may remain cautious, especially seeing how XRP fell after the PMI and JOLTS data release earlier today. Donald Trump is also set to announce reciprocal tariffs tomorrow, which could spark a massive price crash.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A recent Binance update has triggered massive liquidations while sending Solana memecoin ACT into a steep correction. At first, pundits blamed market maker Wintermute for the jarring declines but Binance’s update to leverage and margin tiers appears to be the culprit.
Several Altcoins on Binance Suffer Massive Corrections
According to an X post, several altcoins listed on Binance took a major hit, dropping by double-digit percentages. The hardest hit of the lot was Solana memecoin ACT, experiencing a sudden drop of over 50% in 30 minutes.
Other altcoins including DEXE and DF equally recorded steep declines of 23% and 16% respectively in the same window. The price slump left traders scratching their heads but a consensus formed that sizable sell orders were behind the declines.
“The sudden dips were triggered by large sell orders executed in a short time frame, leading to a significant surge in spot trading volume,” said one pundit.
Others turned to market maker Wintermute as the trigger for the selloff. However, Wintermute CEO Evgeny Gaevoy denied responsibility while noting that the market maker reacted “post move.”
The decline comes amid a broader market recovery with several cryptocurrencies including Compound (COMP) gaining 70%.
What Triggered The 50% Decline For Solana Meme Coin
A Binance update on leverage and margin tiers on specific tokens like ACT triggered the massive declines. According to an April 1 announcement, the top exchange has updated the margin tiers of several perpetual contracts, noting that existing positions will be affected.
Following the move, one ACT whale got liquidated for $3.79 million at $0.1877, triggering a broad selloff. Former FTX community manager Benson Sun noted that traders had less than 3 hours to respond to the change, criticizing Binance for the move.
“Before changing the rules, Binance should have evaluated how many positions would be closed,” said Sun. “If there are market makers with large positions, they should have notified them in advance.”
Within hours of MUBARAK’s listing, the memecoin tumbled by 40% with Binance CEO Changpeng Zhao downplaying the impact of a listing on prices. Binance has drawn criticism in recent days following its exclusion of Pi Network from its Vote To List initiative.
Aliyu Pokima
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
A crypto market crash looks imminent, with Bitcoin, Ethereum, XRP, and Dogecoin witnessing notable declines. This price crash happened following the release of weak manufacturing PMI and JOLTS data, which provides a bearish outlook for the market.
Crypto Market Crash: BTC, ETH, XRP, & DOGE Decline
CoinMarketCap data shows that a crypto market crash could be on the horizon, with the Bitcoin price sharply dropping below $83,000 from a daily high of around $84,400. Altcoins such as Ethereum, XRP, and DOGE also witnessed sharp declines.
This market crash occurred following the release of weak ISM manufacturing PMI and JOLTS data. The March PMI data dropped to 49, below expectations of 49.5 and lower than the 50 recorded in February.
The US JOLTS job openings for February came in at 7.568 million, below the expected 7.690 million and lower than the 7.762 million recorded in January. These data add to several macro fundamentals that paint a bearish outlook for the market.
This crypto market crash could persist, with China, Japan, and South Korea agreeing to respond to Donald Trump’s proposed tariffs. Trump is set to announce a number of reciprocal tariffs tomorrow, which could significantly harm the market as it sets off a trade war between the US and other nations.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
BeInCrypto US Morning Briefing: Standard Chartered and Bitcoin
SUI Price Stalls After Major $147 Million Token Unlock
Bitcoin Could Serve as Inflation Hedge or Tech Stock, Say Experts
Circle Files for IPO
Solana Faces Resistance While ETH Sees DEX Volume Boost
Hill Rejects Interest-Bearing Stablecoins Despite Armstrong’s Wish
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market23 hours agoTop 3 Made in USA Coins to Watch In April
-
Market21 hours agoEthereum Price Faces a Tough Test—Can It Clear the Hurdle?
-
Bitcoin13 hours ago$500 Trillion Bitcoin? Saylor’s Bold Prediction Shakes the Market!
-
Market20 hours agoSolana (SOL) Holds Steady After Decline—Breakout or More Downside?
-
Ethereum20 hours ago$2,300 Emerges As The Most Crucial Resistance
-
Market19 hours agoCFTC’s Crypto Market Overhaul Under New Chair Brian Quintenz
-
Altcoin12 hours agoWill XRP, SOL, ADA Make the List?
-
Altcoin19 hours agoA Make or Break Situation As Ripple Crypto Flirts Around $2
✓ Share: