Ripple Balances Testing and Regulation in RLUSD Stablecoin Push
Ripple has intensified efforts to launch its RLUSD stablecoin. Following reports of token burns on Ethereum and the XRP Ledger, Ripple has now transferred the remaining RLUSD tokens to unidentified Ethereum wallets. Ripple Stablecoin Tracker revealed these transfers earlier today, with each batch averaging 31,500 tokens. In total, Ripple made four such transfers, alongside activity on the XRP Ledger. These wallets likely belong to Ripple, as the RLUSD stablecoin is still undergoing testing and has not officially launched. The company plans to release RLUSD on both the XRP Ledger and Ethereum networks, although this decision initially puzzled the XRP community. RLUSD Testing Progresses Ripple is testing RLUSD to fine-tune mechanisms before launching on the main networks. The stablecoin market remains volatile, with notable failures like TerraLuna’s UST serving as cautionary tales. Ripple aims to avoid any missteps that could harm its reputation. Despite the risks, Ripple intends to roll out RLUSD by the end of 2024. With just over a month left, the company appears to be pushing to meet its timeline. Awaiting Regulatory Approval Ripple executives have stated that RLUSD is “operationally ready.” However, the company is waiting for approval from the New York Department of Financial Services before proceeding. Related articles: XRP Trading Volume Soars: Price Rises 16% Amid Crypto Sell-Off This regulatory hurdle could delay Ripple’s plans, especially as shifts in the U.S. political landscape influence the regulatory environment. Ripple hopes to cap off its successful year by launching RLUSD, but timing remains critical. With final preparations underway, the company continues to position RLUSD as a dual-network stablecoin, poised to make an impact in the competitive and high-stakes stablecoin market.
Shiba Inu (SHIB) Breaks Free from Long-Term Downtrend
Shiba Inu (SHIB) is showing promising signs of recovery after months of consolidation. The token now trades near a crucial resistance level at $0.000025, signaling a potential breakout. SHIB has successfully crossed above the 50-day and 200-day exponential moving averages (EMAs), which often signal bullish momentum. Increased trading volume over the past week indicates rising investor interest, further supporting the bullish outlook. If SHIB holds above $0.00003, it could pave the way for higher targets. Rising On-Chain Metrics Boost Optimism Recent on-chain data reveals strong activity among large holders, with transactions over $100,000 totaling $2.69 billion in the last week. Currently, 61% of SHIB holders are profitable, encouraging additional accumulation. However, 31% of holders remain underwater, potentially increasing selling pressure if prices surge quickly. Related article: Shiba Inu Supply Shrinks as Whale Burns Boost SHIB Value The concentration of SHIB among large holders stands at 73%, highlighting both support and vulnerability. While whales provide stability, any large-scale sell-off could cause significant price volatility. Sustained Trading Volumes Show Investor Confidence In the past 24 hours, SHIB’s trading volume reached 3.4 trillion tokens, reflecting steady market engagement. Although this is below the weekly peak of 29.22 trillion, the consistent activity points to continued investor interest, likely fueled by the broader crypto market recovery. Source: CoinMarkerCap A clear breakout above $0.000025 could attract new investors and drive prices higher. Sustained momentum may push SHIB toward $0.00003 and beyond. However, traders should remain cautious about potential profit-taking by large holders, which could temporarily stall upward progress. Related article: Shiba Inu Rockets Past $0.0000241 After 1,559% Whale Surge Shiba Inu’s recent performance suggests a potential shift in market sentiment. With bullish signals from EMAs, strong on-chain activity, and robust trading volumes, SHIB seems poised for a breakout. However, monitoring whale activity remains crucial, as it could influence the token’s next move.
24-hours Price Analysis: Terra Classic (LUNC) Battles Resistance at $0.00010974, Showing a Minor 0.46% Decline
Terra Classic (LUNC) shows signs of short-term struggle as it trades near critical support levels. The one-hour chart reflects interactions with key EMAs and a weakening RSI divergence, so traders are closely watching for potential breakout or breakdown scenarios. Price Action: Consolidation with Bearish Signals In the past 24 hours, LUNC has traded between $0.00010747 and $0.00011027. While the price briefly touched $0.00011027, it faced rejection at the 50 EMA, which now serves as immediate resistance. The current price of $0.00010989 indicates consolidation near this zone, suggesting a tug-of-war between buyers and sellers. The RSI Divergence (5, 14) reads -3.03, signalling bearish momentum. This downward shift in RSI divergence suggests that selling pressure may outpace buying interest unless fresh volume enters the market. Traders should watch for further RSI drops, which could signal a potential retest of the 100 EMA at $0.00010747. Related article: XRP Trading Volume Soars: Price Rises 16% Amid Crypto Sell-Off EMA Levels Define Critical Zones The EMAs highlight crucial support and resistance. The 50 EMA ($0.00010974) acts as a formidable barrier, while the 100 EMA ($0.00010747) provides a safety net for the bulls. A dip below the 100 EMA could pave the way for a retest of the 200 EMA ($0.00010385), raising concerns for short-term investors. Conclusion LUNC is trading at a pivotal juncture, with the 50 EMA as a ceiling for upward movement. While the RSI divergence points to waning momentum, a price close above the 50 EMA could signal recovery. On the downside, failure to hold the 100 EMA could lead to a bearish breakdown. It’s important to note that traders should remain vigilant, monitoring RSI behaviour and EMA levels in the next 24 hours.
XRP Trading Volume Soars: Price Rises 16% Amid Crypto Sell-Off
XRP trading volume jumped 81% in 24 hours amid a $504 million crypto sell-off. Moreover, bearish sentiment grew after Fed Chair Jerome Powell’s comments on interest rates triggered widespread selling. Additionally, the sell-off stemmed from profit-taking and the liquidation of leveraged positions. Massive Liquidations Hit Crypto Futures CoinGlass revealed that crypto futures saw $504 million in liquidations within 24 hours, with $358 million from long positions. Consequently, this liquidation wave added pressure on the market, affecting several major cryptocurrencies. Source: CoinMarketCap XRP defied the bearish trend, rising 16% in 24 hours to $0.822 and gaining 50% in a week. CoinMarketCap data shows its trading volume surged 86% to $11.7 billion, or 14.23 billion XRP, as traders seized on price swings. Related article: XRP’s Mixed Market Signals Amid Crypto Surge: Key Indicators to Watch for Future Growth XRP’s recent surge stems from advancements in the XRP Ledger ecosystem. Whale accumulation and new adoption plans have boosted investor confidence. French banking giant Société Générale-FORGE plans to launch its EURCV stablecoin on the XRP Ledger in 2025, using Ripple Custody for integration. This move aims to expand multi-chain adoption and complies with MiCA regulations. Whale Accumulation Hits Five-Year High Santiment data revealed significant whale activity, with wallets holding over one million XRP now owning 45.61 billion tokens, the highest since June 2018. Related article: XRP Pushes Past $0.64: On Track to Break Yearly High of $0.74? Over the past two years, whales and sharks increased their XRP holdings by 3.44 billion tokens, marking an 8.16% rise. XRP traders have enjoyed a positive 40% return over the past seven days, fueled by the cryptocurrency’s price growth and heightened trading activity. The combination of whale activity and ecosystem developments signals strong investor interest in XRP.
Shiba Inu Rockets Past $0.0000241 After 1,559% Whale Surge
The meme-inspired cryptocurrency Shiba Inu (SHIB) experienced a dramatic surge in whale activity over the past 24 hours. Data from IntoTheBlock revealed that SHIB’s net inflow into large wallets holding at least 0.1% of its circulating supply skyrocketed by 1,559%. The net flow jumped from 44.45 billion SHIB to an astounding 693 billion SHIB. Inflows and Outflows Surge The surge in whale activity stemmed from significant increases in both inflows and outflows. Inflows into large wallets surged by 48.8%, reaching 11.25 trillion SHIB. Outflows also climbed by 40.4%, with a total of 10.55 trillion SHIB leaving these wallets. This heightened activity reflects strong movement among major SHIB holders. Source: IntoTheBlock SHIB’s price rose to the $0.000023 zone during this period, even after experiencing a 25% drop over the last two days. Despite the decline, analysts consider this correction healthy. The pullback followed an 80% price surge in recent weeks and halted at the 0.5 Fibonacci level, a critical support zone. Source: CoinMarketCap Following this support test, SHIB’s price rebounded by 3%, climbing above $0.0000241. This movement suggests that bulls regained control after the correction. Whale Actions Align with Market Trends The relationship between whale activity and SHIB’s rally remains uncertain. It’s unclear whether whales bought SHIB first, prompting the rally, or responded to the rising price by increasing their positions. Related article: Shiba Inu Supply Shrinks as Whale Burns Boost SHIB Value However, the charts clearly display significant activity by major players aligning with SHIB’s price movement. Shiba Inu’s recent surge in whale activity highlights the cryptocurrency’s growing appeal among large investors. The rebound from a critical technical level further strengthens its bullish outlook. All eyes now remain on whether this renewed momentum will push SHIB to higher levels in the coming days.
Dogecoin Whales Seize Opportunity Amid Price Dip
Dogecoin (DOGE) witnessed a sharp price drop of over 8% within 24 hours, sparking what analysts termed a “healthy correction.” Trading at $0.3722, the meme coin attracted attention from whales, who saw a chance to accumulate. Market analyst Ali Martinez revealed that whales purchased 140 million DOGE within the last day. Dogecoin Still Shines Despite Daily Drop Despite the recent slump, Dogecoin remains one of the market’s top performers. Over the past week, DOGE has soared by 89%, significantly outpacing Bitcoin’s week-to-date (WTD) growth of 17%. This remarkable performance keeps investors optimistic, with many speculating the coin’s rally has only just begun. Related article: Dogecoin’s Explosive Growth: Can the $0.50 Target Be Reached? Martinez reported that the 140 million DOGE amassed by whales equates to $56 million. The massive purchase highlights the continued interest in Dogecoin, even during price fluctuations. Analysts predict DOGE could regain bullish momentum after this correction phase. However, the challenge lies in establishing $0.36 as a solid support level. Dogecoin Shows Independence from Bitcoin Throughout the ongoing bull market, Dogecoin has repeatedly decoupled from Bitcoin, delivering impressive solo runs. Whales’ activities reinforce the meme coin’s potential to chart its own course. These independent surges signal DOGE’s capability to thrive without fully depending on Bitcoin’s performance. Related article: 24 Hours Price Analysis: Dogecoin (DOGE) Faces Resistance at $0.38000 as Market Awaits Next Catalyst While DOGE exhibits independent growth, Bitcoin’s market dominance still holds significant sway. For sustainable gains, Dogecoin needs to align with Bitcoin’s broader market trends. The overall market correlation remains strong, which could benefit DOGE as whales continue their buying spree. Dogecoin’s price dip attracted heavy investments from whales, underlining their confidence in the coin’s long-term potential. Despite its challenges, DOGE’s strong weekly performance and occasional independence from Bitcoin hint at a promising future for the meme coin.
Terra Classic (LUNC) Faces Key Resistance as Buyers Eye Potential Breakout Above $0.00010177: 24-hour Price Analysis
Terra Classic (LUNC) has encountered a challenging 24-hour period, struggling to break above crucial resistance levels. Despite the token’s recent rally, traders have been in a tug-of-war as LUNC’s price now hovers near significant moving averages. Buyers are attempting to regain control as momentum indicators suggest a possible shift in the market’s direction. EMA Overview: A Struggle to Break Above Resistance In the past 24 hours, Terra Classic has been trapped between the 100-period EMA (at $0.00009949) and the 50-period EMA (at $0.00009938). These exponential moving averages act as dynamic levels of support and resistance, and the current price action suggests that LUNC is facing considerable resistance at these levels. Additionally, the 20-period EMA (at $0.00009907) and the 200-period EMA (at $0.00009787) provide support in the event of a pullback. The interaction between the price and these EMAs highlights a consolidation phase, indicating that traders await clearer signals before making significant moves. A breakout above the 20 and 50-period EMAs could signal a bullish trend reversal, with the next target being the psychological level of $0.00010000. RSI Divergence: Momentum Shifting in Favor of Bulls A look at the RSI Divergence (5, 14) indicator, which currently reads 6.11, shows a subtle shift in market momentum. Despite being in the bearish territory for the past few sessions, this positive divergence hints that bullish momentum may be building. RSI divergence typically signals a potential reversal, especially when prices are consolidating near key support levels. If the RSI continues to climb, buyers will regain control and push for a breakout above the EMAs. However, a drop in the RSI may suggest that the bears could lower prices, potentially testing the 200-period EMA as support. Related article: Jasmycoin (JASMY) Experiences 24-Hour Bullish Breakout, Potential for Continuation Above $0.02400 Resistance Level Conclusion: Key Levels to Watch for LUNC in the Next 24 Hours Terra Classic (LUNC) is at a pivotal point, with bulls eyeing a breakout above the 20 and 50-period EMAs. If LUNC manages to close above $0.00009949, traders could see a bullish reversal, potentially pushing the price to $0.00010500 or higher. However, if the price fails to break above these key resistance levels, a deeper correction toward the 100-period EMA or even the 200-period EMA is possible.
24 Hours Price Analysis: Dogecoin (DOGE) Faces Resistance at $0.38000 as Market Awaits Next Catalyst
Dogecoin (DOGE) has faced substantial resistance at the $0.38000 mark, as reflected in the past 24 hours of price action. The meme coin’s rally, which saw it approach the $0.42000 level, has stalled as traders evaluate the next move. Despite a temporary price correction, key technical indicators suggest the market remains undecided. With bulls and bears both vying for control, DOGE’s direction could hinge on its ability to break above or below critical moving averages. EMA and Price Structure The chart indicates that Dogecoin’s price is currently stuck between critical Exponential Moving Averages (EMAs), notably the 50-period EMA ($0.37896) and the 100-period EMA ($0.35816). This positioning signifies a neutral phase where neither bulls nor bears are clearly in charge. The 20-period EMA ($0.37635), slightly above the current price, is acting as immediate resistance, making it difficult for DOGE to gather momentum. Should bulls push DOGE above these EMA levels, it could ignite a breakout toward the 200-period EMA ($0.31192). RSI Signals Neutral Momentum The RSI Divergence (5,14) currently reads 6.25801, which suggests a neutral to slightly bullish momentum, albeit not yet strong enough to drive a significant upward rally. The RSI’s neutral reading means neither side holds a firm advantage, and any drastic movement in price will likely depend on a new catalyst entering the market. Traders should monitor the RSI closely, as a sudden uptick could signal the beginning of a new bullish phase. On the other hand, if the RSI begins to trend lower, it could point to a deeper correction, possibly below $0.35000. Key Levels to Watch In the short term, the $0.38000 resistance level remains the most crucial barrier for Dogecoin to overcome. Breaking above this point could pave the way for a retest of the $0.40000 level, with further potential for higher gains if bullish sentiment intensifies. On the downside, the $0.35800 level, in line with the 100-period EMA, is the nearest support. A breakdown below this level would signal further losses toward the $0.34000 area. Related article: Dogecoin’s Explosive Growth: Can the $0.50 Target Be Reached? Conclusion Dogecoin’s price action in the next 24 hours will likely depend on whether it can break above $0.38000 and establish a new bullish trend. Traders should remain cautious, especially if DOGE fails to hold above $0.35800, as a deeper pullback could follow. Key technical indicators show indecision, making this a pivotal moment for the asset’s future.
Dogecoin’s Explosive Growth: Can the $0.50 Target Be Reached?
Dogecoin’s recent surge saw a record-breaking 61 billion DOGE transacted in a single day, setting a new high in whale movements for the past year. This massive increase in large-scale transactions has raised concerns about potential behind-the-scenes activities. Whale transactions, usually involving large holders, suggest significant market involvement that may point to either redistribution or accumulation. Due to their transaction size, whales can heavily impact Dogecoin’s price, and their high activity levels often signal possible volatility ahead. Intense Rally Fuels High Transaction Volume Aligned with Dogecoin’s impressive rally, which has pushed its price to annual highs, on-chain data reveals continued high transaction volume, with over 60 billion DOGE moved in the past 24 hours alone. Analysis by IntoTheBlock indicates that 96.18% of Dogecoin addresses are currently “in the money,” meaning most holders are profiting at these price levels. This strong on-chain performance reflects a bullish market sentiment, suggesting potential for further price growth. Rising Prices Attract Retail Investors The recent price surge has rekindled interest among retail investors, drawn to Dogecoin’s recent upswing toward the $0.40 mark. As the rally continues, investors are focusing on the key resistance zone around $0.40 and the next target level of $0.50. Breaking these points could push DOGE even higher. Source: CoinMarketCap However, some analysts caution that increased whale activity could lead to a correction if large holders decide to cash out. This situation presents an uncertain outlook, where prices could either continue upward or experience a steep drop, depending on whether whales accumulate or sell. Related article: Dogecoin on the Rise: Wallet Trends Signal a Market Shift Investors are advised to watch for signals from whale activity, as extreme transactions could drive volatility. Whales often capitalize on peak activity by either driving up prices or triggering sell-offs. If whale transactions show more selling than accumulating, a correction could follow Dogecoin’s rapid ascent. While Dogecoin’s recent performance reflects strong market optimism, the high whale activity indicates potential risks that investors should consider as they monitor the cryptocurrency’s next moves.
Jasmycoin (JASMY) Experiences 24-Hour Bullish Breakout, Potential for Continuation Above $0.02400 Resistance Level
In the last 24 hours, Jasmycoin (JASMY) has exhibited a strong upward momentum, marking a bullish breakout. JASMY’s price climbed from a low of 0.021752 to a high of 0.021950, reflecting a 6.68% increase within the last 24 hours. This price surge is supported by key technical indicators, particularly the EMA (Exponential Moving Average) and RSI (Relative Strength Index), both of which suggest potential bullish continuation. EMA Indicators Highlight Bullish Sentiment A closer examination of the EMA values (20, 50, 100, and 200) reveals a layered trend that favors bullish conditions. The 20 EMA is currently at 0.020804, indicating short-term strength as it is well above the 50 EMA (0.020804) and the 100 EMA (0.021027). This alignment demonstrates that the short-term moving average is pushing higher than the longer-term averages, often a sign of growing upward momentum. The 200 EMA, positioned at 0.020691, currently acts as an additional support level. The crossover between the 20 and 50 EMAs in the early hours of trading is particularly significant, suggesting that the current price movement could carry more bullish weight. Traders often look for such crosses as buy signals, which could explain the price rally seen in the last few hours. Related article: Dogecoin on the Rise: Wallet Trends Signal a Market Shift RSI Divergence Signals Strength The RSI Divergence indicator, set with values of 5 and 14, shows a positive divergence with a reading of 19.67. This indicates that the current bullish move has room for continuation, as the RSI is not yet in overbought territory. Positive divergence on the RSI often signals that a bullish trend is picking up steam, while the current level suggests that there may be further room for price growth without facing immediate resistance. What to Expect in the Next 24 Hours If the bullish momentum holds, JASMY could test resistance levels near 0.022000, with potential breakouts towards 0.023000 if buying pressure increases. Conversely, if selling pressure emerges, the 200 EMA around 0.021027 could serve as a solid support level to prevent a sharp decline. Overall, the alignment of the EMAs and the supportive RSI divergence suggests that the bulls are currently in control, and further upward movement may be expected.
