As the cryptocurrency market faces turbulence, XRP stands out as a token that is holding its ground. Despite experiencing a price dip, on-chain data indicates some intriguing trends that could offer hope to XRP investors. A notable development is the increase in the number of investors holding between a thousand and 1 million XRP tokens
Analysis
In the first quarter of 2024, the Polkadot (DOT) blockchain protocol showed significant progress in terms of market capitalization and revenue. Despite experiencing an 80% dip below its all-time high of $55.5 billion, Polkadot’s market capitalization saw a notable 16% quarter-on-quarter (QoQ) increase, reaching $12.7 billion. This positive trajectory was accompanied by a 2,880% QoQ
Ethereum has recently experienced a recovery wave after finding support at $2,820. The price is currently facing a major hurdle near the 100-hourly simple moving average. Despite the positive movement, Ethereum is still trading below $3,050 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at
On-chain data recently revealed that Ripple has conducted its monthly escrow unlock for May. This news has sparked concerns among investors regarding how this action could potentially impact the price of XRP, especially given the accusations of price manipulation that Ripple has faced. In May, 500 million XRP tokens were unlocked from Ripple’s escrow, which
The current price movement of Polkadot (DOT) is indicating bearish signs, particularly below the $8 resistance level against the US Dollar. The price has already dropped below the $7.20 zone and is trading under the 100 simple moving average (4 hours). This downward trend is concerning and could potentially lead to further decline. There is
Recently, Ethereum price took a hit and dropped below the $3,000 mark. This decline in price has raised concerns among investors and traders in the cryptocurrency market. In order to prevent a major drop, Ethereum must maintain support above the key levels of $2,800 and $2,850. One of the significant indicators of the current price
The recent sluggishness in the cryptocurrency market has left many investors feeling apprehensive. However, a glimmer of hope has emerged for XRP, the native token of Ripple, with a significant whale activity catching the attention of industry observers. A notable investor, commonly known as a whale, recently acquired a substantial 23 million XRP, sparking renewed
XRP price is currently facing a major hurdle as it struggles to recover above the $0.520 resistance level. The price is hovering around $0.5150 and is also closely following the 100 simple moving average (4 hours). A significant bearish trend line is forming with resistance at $0.520 on the 4-hour chart of the XRP/USD pair.
The recent movement in the price of Ethereum has been quite erratic, to say the least. The price of Ethereum surged above the $3,300 mark, testing the resistance level at $3,350, before plummeting sharply below $3,300. This sudden decline has left many investors puzzled as to the future trajectory of Ethereum’s price. The occurrence of
The crypto market has been abuzz with bullish predictions for XRP, with experts like EGRAG forecasting a significant price surge in the near future. While the current price of XRP hovers around $0.51, EGRAG believes that the cryptocurrency could potentially reach the $4 mark over the long term. This optimistic outlook has sparked excitement among