Connect with us

Altcoin

XRP Whales Accumulate Over 90 Million XRP Ahead Crypto Summit

Published

1 month ago

on


XRP whales have shown no signs of slowing down their accumulation spree as they continue to load up coins. Over the last 72 hours, whales have bought over 90 million XRP as the ecosystem braces for an announcement that could send prices on a rally.

XRP Whales Accumulate 90 Million Coins Valued At Nearly $250 Million

Onchain analyst Ali Martinez has identified significant whale activity in XRP’s ecosystem in the build-up to the White House Crypto Summit. In the last three days, XRP whales have purchased over 90 million XRP in a massive accumulation spree.

The total value of the XRP whales’ purchase stands at nearly $250 million, reversing a mass whale dump at the end of February. The recent whale accumulation follows a raft of positive metrics for XRP as investors ready themselves for a rally-inducing bull run.

Apart from the recent purchases, XRP whales have transferred over $5 billion worth of coins between addresses during the week. Furthermore, XRP’s active addresses have surged to 462,000 from lows of 74,589 as the plot thickens.

On the flip side, there are fears that the accumulation may be a classic “pump and dump” ahead of the White House Crypto Summit.

Is Something Big Incoming?

While on-chain indicators are largely positive for XRP, recent fundamentals are pointing to incoming positives for the ecosystem. The inclusion of the coin in the Crypto Strategic Reserve signals regulatory acceptance for the project in Washington.

For now, a potential big announcement will be the dismissal of its long-running case against the US SEC. There have been speculations that a Ripple SEC lawsuit could be next after the Commission agreed to dismiss the Kraken lawsuit

Furthermore, there are whispers that Ripple co-founder Brad Garlinghouse may be tapped for a government appointment. The community is hinging their theories on Garlinghouse’s attendance at Friday’s White House Crypto Summit.

XRP whales and the rest of the community expect the policy discussions at the summit to be largely bullish for the embattled project. At the moment, the crypto is exchanging hands at $2.60, rising by 5% over 24 hours, buoyed by growing optimism.

✓ Share:

Aliyu Pokima

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.





Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

BNB Chain Completes Lorentz Testnet Hardforks; Here’s The Timeline For Mainnet

Published

1 hour ago

on

April 11, 2025

By


The renowned blockchain ecosystem BNB Chain has achieved a monumental stride this Friday, revealing that it completed the Lorentz testnet hardforks. According to an X post on April 10, this upgrade on the blockchain ecosystem brings faster blocks and smoother performance. “opBNB is now running at 0.5s block times & BSC testnet is live with 1.5s block times,” the X post added.

BNB Chain’s New Hardforks Boast Faster Blocks & Smoother Performance

BNB Chain revealed that the Lorentz Hardforks reduces opBNB block times to 0.5 seconds and BSC testnet to 1.5 seconds, offering its user base faster and smoother operations. opBNB is a layer-2 scaling solution built atop BSC, a layer-1 blockchain.

Notably, with the ecosystem upgrade, builders, validators, and users remain poised to witness a more responsive blockchain. Faster block times mainly bring increased throughput but risk syncing issues for dApps not designed for such speeds.

The blockchain’s team urged node operators and developers to upgrade and test dApps to check the upgrade’s compatibility.

Timeline For Mainnet Launch On BNB Chain

  • opBNB mainnet hardfork will take place on April 21 at 03:00 AM UTC.
  • BSC mainnet hardfork will take place on April 29 at 05:05 AM UTC.

Binance’s blockchain ecosystem is aiming to foster faster and smoother operations by the end of April, given the abovementioned advancements. This development could in turn magnetize more developers, builders, and users toward the ecosystem.

Native Coin Retaliate On This Development?

At the time of reporting, BNB coin’s price traded at $579.45, up marginally by 0.2%. The blockchain’s native token is currently consolidating within a tight range of $567 and $579.

Crypto market traders and investors have kept the coin on their radars as the abovementioned advancements could fuel more demand for the token. Also, BNB Chain can witness a flurry of activity ahead as it enhances its ecosystem’s potential with upgrades. A BNB coin price prediction by CoinGape further revealed that bulls are currently in control, as per the 3-month bias indicator.

As a result, market sentiments orbiting the coin are optimistic and investors could see a price rally ahead, although it’s worth mentioning that the broader crypto market faces immense pressure amid Donald Trump’s tariff flip-flopping.

✓ Share:

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.





Source link

Continue Reading

Altcoin

XRP Price Risks 40% Drop to $1.20 If It Doesn’t Regain This Level

Published

4 hours ago

on

April 11, 2025

By


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.

XRP Price Risks 40% Drop to $1.20 If It Doesn’t Regain This LevelXRP Price Risks 40% Drop to $1.20 If It Doesn’t Regain This Level
Source: Ali Martinez

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!”

Source: EGRAG Crypto

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.

✓ Share:

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.





Source link

Continue Reading

Altcoin

Dogecoin (DOGE) Reclaims Previous Breakdown, Will This Mark The Bottom?

Published

15 hours ago

on

April 10, 2025

By


After a long-running streak of breaking down from support levels, Dogecoin (DOGE) is set to reverse the trend. Recent Dogecoin price action reveals that the bottom is in for the memecoin amid growing chatter for a strong rally.

Dogecoin Price Reclaims Breakdown Signaling The Bottom

Cryptocurrency analyst Trader Tardigrade says recent Dogecoin price action indicates a positive trend reversal following multiple support breakdowns. In his analysis on X, Tardigrade notes that DOGE has reclaimed a previous price breakdown at $0.15300 after a small rally.

After prices dipped below the support level, DOGE quickly recovered, powered by a rally that saw the asset record double-digit gains over the last day. Tardigrade notes that reclaiming the breakdown signals the end of a long-drawn price decline for Dogecoin.

Since the start of the year, the Dogecoin price has been in steep decline, recording three steep price breakdowns without an attempt to reclaim support levels.

dogecoin reclaims price breakdowndogecoin reclaims price breakdown

“Dogecoin has successfully reclaimed its previous breakdown, marking the first time since the downtrend began in January 2025,” said Tardigrade. “This price action suggests that Doge is gaining strength and may have already reached its bottom.”

The claims that Dogecoin bottom has gathered steam with crypto analyst Master Kenobi predicting that DOGE price will bounce back. Master Kenobi goes on to predict a new all-time high for DOGE in early June, confirming the bottom as well.

Fundamentals Stoke Support For DOGE Bottom Claims

Apart from technicals, certain fundamentals suggest that the bottom is in for the Dogecoin price. 21Shares’ filing for a spot Dogecoin ETF is fuelling a small rally for the dog-themed meme coin.

A previous collaboration between 21Shares and House of Doge for a Dogecoin ETP on the SIX Swiss Exchange is a tailwind for the asset. DOGE has survived the scare stemming from Elon Musk’s imminent departure from DOGE as it eyes the $1 mark.

However, DOGE will have to contend with heavy selling pressure from whales and the broader macroeconomic pressures impacting the cryptocurrency markets to avoid slipping below the support level again.

✓ Share:

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io