Altcoin
XRP Price Risks 40% Drop to $1.20 If It Doesn’t Regain This Level
Despite a few positive developments, XRP price has failed to gather momentum and is flirting at the crucial support of $2.0; failing to hold can cause another 40% crash to $1.20. The macro uncertainty and Trump tariff war escalation have cast dark clouds on the crypto space, impacting XRP equally, despite key developments in the SEC vs Ripple lawsuit.
XRP Price In A Make It or Break It Position
XRP price has been flirting at a crucial support of $2.0, and any directional move can decide the next market action. In the last 24 hours, the Ripple cryptocurrency has bounced back once again from the $1.9 levels and is currently trading at $2.0. However, the daily trading volumes have crashed 51% to $4.21 billion.
Although the bounce back has been sharp, crypto analyst Ali Martinez noted that XRP needs to surge past this breakout zone to continue with the rally. As shown in the image below, XRP price is forming a head and shoulders pattern. Also, the immediate support is $1.80, while the gates of a 40% drop to $1.20 are still open.
However, if the Ripple cryptocurrency manages to roar back above $2.0, it can chart its path for an upside breakout to $22, $30, and beyond. Crypto analyst EGRAG Crypto cited the multi-year time-frame, stating that the breakout on a multi-year timeframe can lead to a strong breakout on the upside. The analyst noted:
“I’m looking at the last pump from the 2017 cycle, which was an incredible 2,600%! Starting from $1.20, if we see a retracement back to the edge of the triangle, then $30 is definitely within reach!”
On-Chain and Ripple Lawsuit Developments
XRP’s on-chain metrics highlight huge growth for the Ripple blockchain. On-chain analyst Ali Martinez reports that over 6.26 million addresses now hold at least one XRP, marking a record high for the network. This milestone highlights strong investor confidence despite ongoing market volatility. At the same time, talks of a spot XRP ETF are also on the rise amid positive developments in the Ripple lawsuit, which can be a catalyst to XRP price upside.
On Thursday, the United States Securities and Exchange Commission (SEC) and Ripple Labs have jointly filed a pivotal motion following their settlement of the XRP lawsuit. According to the filing submitted to the US Court of Appeals for the Second Circuit, both parties have requested that the appeal be held in abeyance until the court formally approves the resolutions.
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 exchange Binance has recently revealed plans to delist a specific spot trading pair for the VIDT crypto, causing its price to plunge nearly 40% in just a day. The exchange revealed in an official announcement this Tuesday that it will delist the VIDT/BTC trading pair shortly, pushing investors to take a cautious approach while trading the asset.
Binance To Delist VIDT/BTC: Here’s The Timeline
According to an official Binance announcement dated April 15, the VIDT/BTC trading pair will be delisted at 08:30 UTC. The decision to delist this trading pair comes as the crypto exchange looks to protect its users from emerging market risks while also ensuring a high-quality trading experience.
Per the announcement, the spot trading pair mentioned above is being delisted after a thorough periodic review by the exchange. The VIDT/BTC trading pair reflects concerning factors, such as poor liquidity and trading volume, among other reasons that pose a risk to users.
In turn, usual market sentiments remain highly bearish in light of such delistings on one of the top crypto exchanges. Besides, it’s noteworthy that this delisting was initially scheduled to take place on April 16. However, Binance pre-poned the delisting, which caused a sudden shock to traders as the coin’s price promptly crashed severely.
As of press time, VIDT price saw a steep fall of roughly 38%, closing in at $0.001838. The DAO-based token fell from a high of $0.003024 in the past 24 hours. This price drop reflects market uncertainty in the wake of one of the top crypto exchanges delisting the crypto.
Meanwhile, it’s also worth pointing out that Binance offered clarity on OM price crash by revaling a statement recently. CoinGape reported that the crypto exchange titan blamed massive cross-chain liquidations as the primary reason for Mantra’s 90% price crash on Monday. The price crash in turn caused massive liquidations and OM selling, whilst the project also faced rug pull allegations.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
The Shiba Inu burn rate once again shot up by a staggering 2000% on Tuesday, reverberating market optimism surrounding its future price movements. Recent burn metrics revealed that over 20 million SHIB tokens were removed from the asset’s circulating supply in just a day. Now, crypto market traders and investors speculate if price gains loom, whilst a renowned SHIB community member further revealed that a “new pump wave is loading.”
Shiba Inu Burn Rate Soars 2000% As 20M Tokens Burnt
According to Shibburn’s data on April 15, the Shiba Inu burn rate exploded by 2061.22% at the time of reporting. This surge in the meme token’s burn rate is in sync with 20.83 million coins removed from the asset’s supply intraday.
For context, the SHIB burn mechanism transfers tokens to a null address and makes their recovery impossible. This saga drastically reduces the dog-themed meme coin‘s circulating supply, a reason that many believe is driving SHIB’s relatively sluggish performance over the years.
Besides, a renowned Wall Street expert going by the name “wallstreetbets” on X has stated that “Despite burns, SHIB supply remains unchanged.” This statement has ushered an apprehensive sentiment among market participants who are anticipating price gains ahead in light of the constant burns. Intriguingly, CoinGape found that the total circulating supply rested at 584.37 trillion tokens at the time of reporting.
Can SHIB Price Pump Ahead?
CoinMarketCap’s data showed that SHIB token’s price rested at $0.00001193, down nearly 3% over the day despite the Shiba Inu burn rate surge. The meme coin fell from an intraday high of $0.00001239, even hitting a bottom of $0.00001182. Crypto market participants are currently uncertain about the coin’s future price movements, given broader market trends and a volatile price trajectory.
Nevertheless, renowned Shiba Inu community member SHIB Knight posted on X that a “new pump wave is loading.” Notably, a sustained break above $0.00001238 paves the way for a bull run, per the community member. Traders and investors continue to monitor the coin for further price action shifts ahead.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
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.
In the wake of the jarring incident around Mantra, community members are calling for Pi Network to glean valuable lessons from the black swan event. Pseudonymous cryptocurrency analyst Dr Altcoin wants the PiCoreTeam (PCT) to establish key guardrails to prevent a repeat of the OM incident for the Pi Network.
The OM Incident Is A Huge Lesson For Pi Network
Cryptocurrency expert Dr Altcoin has urged the Pi Network to learn valuable lessons from the grim Mantra (OM) incident. According to a post on X, Dr Altcoin called on the PiCoreTeam to lay a proper foundation to prevent steep price drops for token prices.
The price of Mantra (OM) fell from $6.32 to $0.57 in one steep drop that left investors scratching their heads. OM, once ranked among the top 50 cryptocurrencies by market capitalization, tumbled by over 90% in a day, stoking speculations of a rug pull.
While the official explanation puts the blame on liquidations, a consensus is forming that the steep drop is a “carefully orchestrated dump.” Market losses totaled $6 billion as a cohort of crypto traders lost $400 million after buying OM three days before the incident.
However, Dr Altcoin wants the PCT to speed up the development of ecosystem guardrails to prevent a repeat of the incident for Pi Network. Dr Altcoin has his eyes on the clock, urging the PCT to set up robust infrastructure before the transition to open mainnet.
“The OM incident is a wake-up call for the entire crypto industry – proof that stricter regulations are urgently needed,” said Dr Altcoin. “It also serves as a HUGE lesson for the PCT as we transition from the Open Network to the Open Mainnet.
Belief In the PiCoreTeam Is Waning
While a cross-section of community members will argue that the PCT is not scheming a rug pull, there is rising dissent in the ecosystem. Dr Altcoin remarks that faith in the PCT is waning given a trail of transparency issues facing the Pi Network in recent weeks.
“One thing is clear about the PCT,” wrote Dr Altcoin on X. “They are not transparent.”
Questions about the PCT’s transparency first reared its head over the murkiness of the locking and burning mechanism for Pi Coins. Furthermore, delays in issuing KYB approvals for projects leading to PiDaoSwap launching NFTs on the Binance Chain inflamed soured optimism for the PCT.
Dr Altcoin notes that if the PCT fast-tracks the KYB process for centralized exchanges, it will unlock the floodgates of demand for Pi ahead of the transition
At the moment, Pi miners are capitulating casting a shadow of doubt over the direction of Pi Coin price. Pi Coin is on the rise, climbing by nearly 30% over the last seven days to trade at $0.7404 but the specter of a drop to 0.3 hangs like a Sword of Damocles.
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.
Binance Delists This Crypto Causing 40% Price Crash, Here’s All
Can Pi Network Avoid a Similar Fate?
Dogecoin (DOGE) Derailed? Meme Coin Faces New Hurdles to Fresh Surge
Bitcoin Poised for Summer Rally as Gold Leads and Liquidity Peaks
Cardano Buyers Eye $0.70 as ADA Rallies 10%
XRP Price Could Regain Momentum—Is a Bullish Reversal in Sight?
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
-
Market24 hours agoFLR Token Hits Weekly High, Outperforms Major Coins
-
Market23 hours agoAuto.fun Launchpad Set to Debut Amid Fierce Market Rivalry
-
Altcoin23 hours agoXRP Price Climbs Again, Will XRP Still Face a Death Cross?
-
Market18 hours agoMENAKI Leads Cat Themed Tokens
-
Altcoin22 hours agoAnalyst Predicts Dogecoin Price Rally To $0.29 If This Level Holds
-
Market17 hours agoTether Deploys Hashrate in OCEAN Bitcoin Mining Pool
-
Bitcoin23 hours agoCrypto Outflows Hit $795 Million On Trump’s Tariffs & Market Fear
-
Market16 hours ago3 Altcoins to Watch in the Third Week of April 2025
✓ Share: