XRP Loses Position as Third-Largest Crypto Amid Stablecoin Delay
Ripple officially announced the delay of its stablecoin, $RLUSD, on December 5. The company revealed the postponement via its social media platform, X, stating, “$RLUSD isn’t launching today.” The launch now awaits approval from the New York Department of Financial Services (NYDFS). XRP Price Drop and Market Impact Following the announcement, XRP’s price fell sharply. It dropped from $2.59 to $2.31 within 24 hours, according to CoinMarketCap. This decline resulted in XRP losing its spot as the third-largest cryptocurrency, falling behind Tether (USDT), which holds a market cap of $135.8 billion. Source: CoinMarketCap As of now, XRP’s market cap stands at $139.24 billion, reflecting a 8.30% decrease in the past day. XRP’s 24-hour trading volume also saw a significant drop. Related article: Ripple (XRP) Prepares for Potential Year-End Token Sell-Off in 2024 It fell to $27.55 billion, marking a 30% decrease compared to the previous day. Despite this setback, XRP still holds its position ahead of Solana (SOL) and Binance Coin (BNB), even as BNB reached an all-time high on December 4. Market Sentiment and Speculation Analysts point to panic selling as a possible reason for XRP’s decline. Glassnode data highlights increased selling pressure, with trading volumes falling from $32 billion to $16 billion on December 4. This cooling-off period may have contributed to XRP’s market cap drop and loss of ranking. Related article: XRP Transfers Spike: Whale Moves $156 Million in 8 Hours Stablecoins are seeing a surge, with a 24-hour trading volume of $317.13 billion. Ripple’s success with $RLUSD is crucial for enhancing its On-Demand Liquidity platform, which facilitates fast cross-border payments. A successful launch could potentially boost XRP prices. Bollinger Bands indicate reduced volatility, as the bands have narrowed. XRP recently tested resistance at $2.74, with support holding around $2.21. Traders now await a breakout or breakdown to signal XRP’s next major price move.
XRP Transfers Spike: Whale Moves $156 Million in 8 Hours
Prominent blockchain tracker Whale Alert identified two significant XRP transactions. One of these, involving 39,999,989 XRP valued at $103.18 million, went directly to Coinbase, the largest U.S. cryptocurrency exchange. The second transfer, totaling 19,999,989 XRP worth $52.97 million, moved between anonymous wallets. In total, these two transactions accounted for roughly 60 million XRP, equivalent to $156 million. XRP Price Rebounds After Sudden Drop XRP’s price recently experienced a volatile shift. Following a sharp 16% drop from $2.86 to $2.41, the coin rebounded by 10%, trading at $2.56. This recovery comes as XRP solidifies its position as the third-largest cryptocurrency on CoinMarketCap. Increased whale activity appears to be fueling this momentum. Related article: XRP Predicted to Double Its All-Time High Price Santiment data confirmed heightened whale activity earlier this week. Over the weekend, large investors amassed 160 million XRP, spending around $380 million. On Dec. 3, Whale Alert tracked six notable transactions totaling 273.4 million XRP. Among them were transfers of 100 million and 60 million XRP. These movements involved South Korean exchanges Bithumb and Upbit. Source: CoinMarketCap As XRP soared to $2.49, its highest level since January 2018, whales holding between 1 million and 10 million XRP accumulated 679.1 million coins, valued at $1.66 billion. Smaller investors also joined in, acquiring an additional 5.5 million XRP. Ripple Issues Scam Warning Amid Rising Market In light of XRP’s recent surge, Ripple issued a scam alert on Dec. 2. CEO Brad Garlinghouse released a video warning the community about fraudulent schemes. Scammers often promise double returns in exchange for XRP. Related article: XRP Sees Massive Growth After Forbes Criticized It as “Zombie” Token Garlinghouse emphasized that neither Ripple nor its executives, including CTO David Schwartz and President Monica Long, would ask for XRP in such a manner. Ripple’s message urged users to “stay aware and stay safe.” This proactive approach highlights the risks accompanying rapid market gains and encourages vigilance among investors.
Shiba Inu Targets New Peaks Amid Bullish Sentiment
Shiba Inu (SHIB) has entered a renewed bullish phase, capitalizing on the broader recovery in the cryptocurrency market. Despite dipping to $0.00002713 within the past 24 hours, the token rebounded sharply, crossing the $0.00003 threshold. SHIB’s price climbed by 3.6% in a 24-hour window, signaling the beginning of its second bullish cycle. Price Fluctuations Highlight Resilience Over the past week, SHIB demonstrated volatility, recording significant highs and lows. However, it maintained a strong 22.37% upward trend, outperforming expectations despite frequent pullback attempts. The token’s burn rate remains erratic, often leaning toward the negative. Source: CoinMarketCap Still, Shiba Inu continues to ride the momentum of the broader market to sustain its uptrend. Breaking through the $0.00003 resistance level positions SHIB closer to its all-time high (ATH) of $0.00008845. The token now sits 65% away from reclaiming this peak. Related article: SHIB Burn Rate Soars: Massive 144,045% Spike Stuns Community Drawing inspiration from recent gains in Binance Coin (BNB) and Tron (TRX), SHIB could leverage the ongoing bullish sentiment to aim for this ambitious milestone. Despite uncertainty in the crypto space, Shiba Inu holds solid fundamentals to support its growth trajectory. Technical Indicators Signal More Growth Technical analysis suggests SHIB still has room to rise. The Relative Strength Index (RSI) currently reads 67, indicating the token has not yet entered the overbought zone. The next price target sits at $0.00003307, SHIB’s 30-day high. Related article: Shiba Inu Holders Eye Critical Levels with Trillions Incoming Retail and whale investors are increasing their SHIB holdings, reflected in a 17.32% surge in trading volume to $3.2 billion. Developers are also fostering innovation within the community, enhancing engagement with updates on reward programs and scam alerts. By strengthening its community and driving new initiatives, Shiba Inu aims to close the gap with its rival, Dogecoin (DOGE). Both tokens continue competing for dominance in the meme coin sector, with SHIB positioning itself for sustained growth.
SHIB Burn Rate Soars: Massive 144,045% Spike Stuns Community
Shibburn tracker data reveals a dramatic spike in Shiba Inu’s burn rate over the last 24 hours. The SHIB community witnessed a staggering increase of 144,045%, marking a significant milestone not seen in recent months. In total, 2,041,299,351 SHIB tokens were sent to unspendable wallets, effectively reducing the circulating supply. Weekly Burn Rate Doubles The recent burn rate extended beyond daily metrics. Over the past seven days, the total burn reached an impressive 4,251,012,135 SHIB. This surge represents a weekly increase of 1,990.39%, highlighting the community’s intensified efforts. Many SHIB enthusiasts responded enthusiastically to these developments, sharing optimistic predictions and expressing bullish sentiments on social media. The SHIB development team recently rolled out a significant upgrade for the Heimdall and Bor hardforks, previously integrated this year. This latest update aligns with Ethereum’s Dencum fork, focusing on enhanced performance, security, and blockchain management within Shibarium. Related article: Shiba Inu Price Falls 13%: What’s Next for SHIB Investors? The team also introduced a new SHIB burn contract. While they withheld detailed specifics, the announcement promised a considerable reduction in the circulating supply, aiming to add value for SHIB holders. Price Surge Follows Burn Event Following the burn news, Shiba Inu’s price saw a notable increase. SHIB’s value jumped by over 10%, rising from $0.00002757 to $0.00003060 within 24 hours. This price movement aligns with the growing optimism surrounding SHIB’s future prospects. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? Shytoshi Kusama, SHIB’s enigmatic founder, recently expressed ambitious plans to elevate Shiba Inu into the top five cryptocurrencies. He emphasized a commitment to this goal, despite a limited budget. Kusama’s statement came shortly before XRP’s surprising leap from seventh to third place in market capitalization, further fueling speculation and excitement within the community. These developments reflect the SHIB community’s determination to drive growth and create long-term value through strategic initiatives and community engagement.
Shibarium Unveils Burn Contract in Latest Blockchain Upgrade
Shibarium’s official X account, @ShibariumNet, recently announced a significant update for its layer-2 blockchain. The upgrade includes updates to Heimdall and Bor hardforks, along with a new contract dedicated to burning SHIB tokens. This enhancement makes Shibarium compatible with Ethereum’s Dencun hardfork, aligning it with the latest blockchain advancements. The team’s guidance documents recommend starting with the Heimdall update before proceeding to Bor. The upgraded Heimdall ensures seamless operations within the post-Dencun environment, boosting efficiency. Heimdall and Bor Updates Focus on Performance The Bor upgrade emphasizes better performance, enhanced security, and improved blockchain management. Notably, it introduces a new SHIB burn contract, designed to support future updates and improvements. The burn contract will go live at block 8,200,512. Related article: Shibarium TVL Surges to All-Time High of $8.57 Million Though the details remain scarce, the team promises the upgrade will significantly help reduce the SHIB token supply, potentially adding value for holders. The guidance also stresses the importance of node runners updating their nodes before downloading the hardfork versions. Massive SHIB Burns Increase Burn Rate In the past 24 hours, SHIB enthusiasts burned a staggering 2,022,950,833 SHIB tokens. A single transaction accounted for 2,020,624,700 of these tokens, driving the SHIB burn rate up by 3,162.56%. Related article: Shiba Inu Holders Eye Critical Levels with Trillions Incoming According to comments on the Shibburn tracker, the founder of SquidGrow, Shibtoshi, likely initiated this massive burn. Last week, he destroyed an additional 1,003,266,585 SHIB. Thanks to these efforts, the SHIB community successfully burned 3,162,301,655 tokens in November alone. The new burn contract and continuous burns could strengthen SHIB’s position by reducing its overall supply. As Shibarium aligns with Ethereum’s latest updates, holders may see increased value over time.
Shiba Inu Holders Eye Critical Levels with Trillions Incoming
On-chain data signals a significant inflow of 33.7 trillion Shiba Inu (SHIB) tokens within the next 24 hours. This surge could introduce notable volatility in the token’s price. The substantial increase in SHIB supply may impact market dynamics, triggering shifts in investor behavior and price movements. Current Price Resistance and Key Support Levels The price chart reveals that SHIB currently faces resistance at $0.000031. In the past 24 hours, the token’s price has dropped by 1.7%, reflecting growing selling pressure after a recent rally. Investors are closely monitoring the $0.000027 and $0.000025 levels, which serve as crucial support zones. If buying interest emerges at these points, SHIB may stabilize. Source: CoinMarketCap However, the expected influx of 33.7 trillion tokens could lead to heightened volatility and further fluctuations. Large transactions, often referred to as whale movements, may drive this anticipated influx. These transactions could indicate significant accumulation or potential sell-offs. Related article: Shiba Inu Price Falls 13%: What’s Next for SHIB Investors? The outcome depends on whether whales choose to buy or offload their holdings. With the Relative Strength Index (RSI) hovering around neutral levels, the token’s price could swing in either direction. Community Sentiment and Profitability Metrics Despite recent price challenges, SHIB continues to maintain strong transaction volume and community engagement. However, profitability data suggests that many holders remain cautious about expanding their positions. Most investors appear to be waiting for clearer signs of upward momentum before increasing their holdings. Related article: Shiba Inu Lead Disassociates from Shiro Neko Amid Partnership Announcement Market psychology plays a critical role in understanding how the influx of SHIB might affect prices. A large supply increase often raises concerns about token dilution, which can lead to temporary price declines. On the other hand, if whales capitalize on the influx to accumulate more tokens, the market could interpret it as a bullish signal. In the coming hours, traders and investors will closely watch price movements and whale activity to gauge the token’s next steps. The balance between selling pressure and accumulation will likely determine SHIB’s short-term performance.
Charles Hoskinson Unveils Key Updates in Hydra Development
Cardano’s founder, Charles Hoskinson, has spotlighted a major milestone involving the Hydra Doom testing, which included active participation from the community. The developer team recently conducted a load test to push the Hydra Head protocol to its limits. Hoskinson, who closely monitored this initiative, shared performance statistics on X (formerly Twitter) to provide feedback on the results. Hydra Head Protocol Boosts Scalability Known for its speed and scalability, Cardano remains one of the fastest proof-of-stake (PoS) layer-1 blockchains. To further enhance its capabilities, Input-Output Global (IOG) developed the Hydra Head protocol. This innovation aims to increase throughput and improve transaction processing on the network. Related article: Cardano Enhances User Experience with Lace 1.17.5 Wallet Update Hydra’s potential extends beyond financial transactions. A gaming title, Doom, will soon host a large tournament on Hydra, testing the protocol under real-life conditions. During the recent load test, Cardano achieved an impressive 134,464 transactions per second (TPS), a significant leap from its usual 257 TPS. While these figures showcase Hydra’s potential, real-world simulations involving actual users will confirm if such performance levels are sustainable. Upcoming Developments and Projects Hoskinson remains committed to advancing Cardano’s ecosystem. In line with this, he recently announced his next project, Quantum Hosky, which aims to introduce new utilities. Though Hydra’s broader applications remain undisclosed, the protocol appears ready for retail use and expansion beyond gaming. Related article: Cardano Faces Resistance: What’s Holding Back the Rally? Cardano’s native token, ADA, has seen notable gains amid the ongoing bull market. Over the past 24 hours, ADA surged by 16.42%, reaching $1.245. Within this period, the token climbed from a low of $1.0723 to a peak of $1.318. Over the past week and month, ADA has risen by 37.88% and 269.31%, respectively. These gains put ADA on track to reclaim its all-time high (ATH) of $3.099. If historical trends continue, ADA may surge by another 66% this month, potentially helping Cardano achieve its long-term goals. The upcoming Hydra tournament and ongoing utility upgrades are expected to drive further momentum.
24 hours Price Analysis: Terra Classic (LUNC) Holds Ground Above $0.000127 as Buyers Regain Control
In the past 24 hours, Terra Classic (LUNC) has shown signs of recovery after facing selling pressure earlier in the day. The token is currently trading at around $0.00012957 as buyers fight to keep the price above key support levels. With the RSI Divergence pointing toward positive momentum and the EMAs offering dynamic support, LUNC could be gearing up for its next move. LUNC Price Action: A Resilient Bounce Back LUNC started the day on a bearish note, dipping toward the 100 EMA level of $0.00012799. However, the price quickly rebounded, showing resilience as buyers stepped in. At $0.00012957, LUNC is down by 3.06%, suggesting that the recent bearish momentum may be fading. The next key resistance lies at $0.00013046, the 20 EMA. If LUNC manages to break through this level with strong volume, it could open the path toward the $0.00013500 zone. RSI Divergence Hints at Bullish Momentum The RSI Divergence (5, 14) currently stands at 6.18, indicating a bullish signal. This positive divergence suggests that despite the recent pullback, buyers are gaining momentum. If the RSI continues to rise, it could confirm a potential trend reversal, reinforcing the likelihood of further gains in the short term. EMA Levels: Key Indicators to Watch LUNC is trading above the 100 EMA ($0.00012799), which serves as a critical support level. The 50 EMA ($0.00013046) now represents immediate resistance. A decisive move above the 50 EMA could see the price test the 20 EMA ($0.00013058) and beyond. Conversely, failure to hold above the 100 EMA could push the price toward the 200 EMA support at $0.00012394. Related article: JasmyCoin (JASMY) Holds Key Support Amid RSI Weakness Despite 7.75% Surge in Last 24 Hours LUNC’s price movement in the last 24 hours highlights the ongoing battle between bulls and bears. While the RSI divergence and dynamic support levels favour buyers, a breakout above $0.00013046 is essential to confirm bullish momentum.
Shiba Inu Price Falls 13%: What’s Next for SHIB Investors?
Shiba Inu (SHIB) experienced a sharp 13% decline in the past 24 hours, falling from a high of $0.000033 to $0.000029. This drop follows a strong rally earlier in the week, where SHIB broke through key resistance levels. Notably, the price previously broke out of a bullish pennant pattern, raising hopes for a sustained uptrend. Market analysts suggest that SHIB’s recent correction may be due to overbought conditions. The Relative Strength Index (RSI) indicates a cooling-off phase as SHIB entered overbought territory during its rally. Despite the drop, on-chain data reveals that 73% of SHIB holders remain profitable at current price levels, signaling that most investors are still in the money. Source: CoinMarketCap Whale Activity Drives Volatility Large holders, or “whales,” have played a significant role in SHIB’s recent price movements. With 74% of SHIB’s supply concentrated among these major players, whale activity has driven both the rally and subsequent sell-off. Over the past week, transactions exceeding $100,000 totaled $1.63 billion, highlighting strong participation from these investors. Related article: SHIB Burns Surge Over 5,000%: Can It Fuel a Price Rebound? SHIB’s next crucial support level sits at $0.000027. If the token holds this level, a rebound could occur, driven by renewed interest from both institutional and retail investors. For SHIB to regain its bullish momentum, it needs to break through resistance levels at $0.000033 and $0.000036. Long-Term Holders Show Confidence Despite the recent downturn, SHIB continues to show strong network activity. A notable 77% of holders have kept their positions for over a year, reflecting confidence in the token’s long-term fundamentals. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? While the current correction may signal consolidation, further declines remain possible if selling pressure persists or broader market conditions worsen. Investors should monitor key support and resistance levels closely. A sustained rally could follow if market sentiment improves and support holds, but caution remains essential in navigating this volatile period.
JasmyCoin (JASMY) Holds Key Support Amid RSI Weakness Despite 7.75% Surge in Last 24 Hours
JasmyCoin (JASMY) has experienced a notable pullback after recent gains, but it still holds above important support levels. Despite a decline in momentum, the token remains above the 20 EMA, suggesting that bulls may still have some control. This 24-hour analysis highlights JASMY’s price dynamics, focusing on RSI trends and EMA levels. Price Analysis: Support Levels in Play Over the last 24 hours, JASMY’s price action has fluctuated between $0.02978 and $0.03076. Currently trading at $0.03004, the token is attempting to consolidate near the $0.030 mark. This level is pivotal, as holding above the 20 EMA could set the stage for another potential rally. The RSI Divergence (5, 14) at -7.80 suggests that bullish momentum is weakening. This divergence indicates increased selling pressure, making it critical for bulls to defend the $0.02966 support. If the RSI divergence worsens, JASMY could face additional downward pressure in the short term. Read also: XRP Ledger to Power Reserve Bank of India’s Digital Rupee Initiative EMAs Highlight Key Levels for Bulls and Bears JASMY is currently above the 20 EMA ($0.02966), which is acting as short-term support. The 50 EMA ($0.02871) is the next crucial level, offering stronger support should the price dip further. On the flip side, the 100 EMA ($0.02762) represents a significant safety net for bulls. Breaking above the recent high of $0.03076 could signal renewed bullish interest. Conclusion JasmyCoin is at a critical juncture, with key EMA levels providing essential support. Despite bearish signals from the RSI divergence, the price holding above the 20 EMA offers hope for bulls. JASMY must break above $0.03076 to regain upward momentum, while a failure to hold the 20 EMA could trigger a test of the 50 EMA. Traders should stay alert to price action near these key levels.
