In brief



Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$118,045.00
-0.16%$2,972.25
-1.16%$2.82
7.56%$693.85
0.77%$162.59
-1.07%$0.999877
-0.01%$0.202268
1.45%$0.305191
3.02%$2,968.93
-0.99%$0.726165
0.31%$46.96
2.06%$117,830.00
-0.24%$0.396016
26.51%$3,585.68
-1.10%$3.45
-2.13%$15.35
-0.83%$520.47
-0.95%$20.84
-1.28%$0.204019
-1.09%$9.06
0.91%$3,184.00
-0.96%$0.00001346
-0.18%$3.01
1.32%$2,972.02
-0.94%$0.999676
-0.03%$93.45
-2.33%$46.67
-0.34%$1.001
0.02%$331.48
1.24%$4.00
0.37%$118,069.00
-0.17%$1.001
0.06%$0.00001248
-2.33%$4.43
-2.49%$8.49
-4.77%$304.23
-2.99%$393.81
1.03%$0.470836
-6.21%$0.105046
6.78%$4.90
-1.53%$1.18
-0.06%$2.52
-2.58%$48.59
-2.09%$5.37
-2.57%$197.40
-1.36%$0.895716
-2.04%$1.00
0.00%$18.45
-1.11%$1.059
0.00%$0.085953
-4.00%$0.999834
0.02%$4.69
0.43%$0.637437
-0.78%$0.33741
-7.59%$0.235096
2.67%$0.02440766
-1.73%$0.404242
-3.55%$9.87
-1.99%$0.223187
-0.46%$16.17
-1.46%$4.45
-0.29%$3.68
-4.31%$0.337452
-0.34%$0.706681
-6.66%$2,970.85
-0.99%$1.035
-5.86%$2.58
-1.98%$117,656.00
-0.14%$0.00002206
-6.57%$115.75
-0.76%$0.078999
-6.45%$4.73
-0.54%$172.53
-1.08%$1.60
-1.68%$11.47
0.71%$0.485077
-2.75%$0.999865
-0.00%$0.997623
0.35%$0.02260094
6.32%$3,114.05
-0.98%$3,386.68
-0.99%$1.001
0.06%$1.90
-0.88%$1.28
1.06%$4.40
13.45%$1.26
-6.76%$12.71
-0.38%$0.01689292
-0.55%$0.071956
-2.01%$0.359026
1.71%$1.76
-4.40%$0.749331
-1.08%$0.655623
-3.96%$3,182.29
-1.12%$3,121.98
-0.96%$0.701691
5.69%$1.00
-0.01%$3,129.64
-1.10%$0.999931
-0.00%$12.43
-5.45%$117,785.00
-0.26%$0.967015
-6.31%$0.097577
-2.12%$0.508634
-1.20%$117,754.00
-0.08%$1.11
0.06%$0.00009719
-4.65%$3,343.30
0.12%$0.159181
-0.72%$694.02
0.72%$118,409.00
-1.04%$3,209.75
-1.03%$0.999463
-0.03%$0.637551
-0.68%$2.51
-0.57%$0.540682
-1.81%$182.62
-1.20%$3,348.17
0.45%$212.35
-1.36%$0.798485
-1.78%$0.01710553
-2.31%$0.831617
-4.20%$0.190889
2.44%$10.74
0.01%$21.96
-2.22%$2.72
-4.43%$0.01472092
-3.40%$0.290411
-1.29%$111.77
0.02%$42.45
-1.58%$0.00000069
3.86%$1.96
-1.81%$0.117297
-1.04%$0.997843
-0.07%$46.94
1.87%$2,970.33
-1.36%$0.0000017
2.52%$0.779558
-4.06%$0.252192
5.01%$0.627755
4.48%$3.96
-3.76%$3,173.98
-1.03%$1.093
0.50%$116,856.00
-0.54%$117,814.00
-0.24%$3,085.43
-2.36%$0.38389
0.43%$2,973.19
-1.26%$0.0090212
-3.50%$0.311904
0.20%$0.999088
-0.03%$0.997656
-0.02%$0.0170298
10.20%$3.09
10.81%$0.057299
-2.69%$0.552626
-0.19%$0.401521
-4.17%$117,968.00
-0.08%$0.502017
-11.75%$46.94
2.03%$1.68
-1.83%$1.51
-2.69%$0.664631
-1.33%$0.527761
8.10%$26.50
-1.26%$0.202066
1.23%$0.999752
-0.01%$2,971.66
-0.99%$0.141348
-4.63%$0.098006
3.69%$0.999255
-0.10%$1.00
-0.03%$0.00792953
-3.85%$3,161.66
-1.16%$0.22133
-3.26%$0.423777
-1.08%$0.605994
-3.23%$0.00454694
-5.66%$0.00000045
2.22%$0.999811
-0.01%$6.30
-0.38%$47.18
-2.24%$0.061908
0.45%$15.30
-2.15%$7.57
-6.77%$3,281.16
-0.96%$0.359004
-0.60%$1.13
-8.17%$0.00002126
0.65%$0.169218
-3.06%$1.34
-5.84%$2.50
-2.03%$6.31
-3.35%$1.094
0.03%$117,660.00
-0.08%$0.998877
0.58%$0.004395
-2.89%$0.055834
-4.94%$0.152825
-0.50%$3,253.71
-0.95%$0.04063012
-0.43%$0.999119
-0.19%$0.279164
3.54%$0.540105
-1.84%$1.57
-7.09%$2,970.65
-1.33%$2,973.21
-0.92%$1.00
0.02%$0.03701895
1.76%$0.077336
-4.32%$2,969.84
-0.25%$0.00685436
-4.81%$0.365086
-2.92%$0.0185917
2.37%$117,796.00
0.22%$0.355013
-4.86%$0.99988
0.01%$1.28
3.72%$0.00006341
-2.25%$177.48
-1.29%$0.524716
-2.52%$0.235207
2.97%$20.85
-0.45%$128.36
0.22%$1.15
-8.13%$0.832355
-3.98%$11.35
1.72%$3,586.06
-1.24%$0.733561
-5.92%$25.37
-0.83%$0.00380926
1.84%$0.755153
-1.64%$0.999313
-0.01%$0.02939951
-1.75%$1.00
0.06%$0.999318
-0.02%$0.677083
1.55%$20.83
-1.20%$1.002
0.15%$0.298504
-6.76%$117,972.00
-0.24%$0.00340441
-3.11%$2,371.12
-0.11%$1.02
0.05%$0.00419951
-7.69%$3,118.79
-0.89%$17.09
0.19%$114,953.00
-0.40%Reading
XRP hodlers are finding their way back to the harsh reality of the market after a joyous few weeks.
Following a bullish run that led XRP, the third largest crypto asset by market cap, to gain over 300% to its price in less than a month, Ripple's token has now undergone a sharp bearish correction—and with significant volatility in the process.
Currently, XRP is priced at $0.49, representing a drop of 5.91% in just 24 hours and almost 20% in the last 7 days.
For XRP, 2020 can be divided into two periods: The FOMO before the Flare airdrop snapshot, and the FUD after Flare's snapshot.
Flare Network promised a bridge between RippleNet and decentralized finance (DeFi). It announced a $SPARK token airdrop for XRP hodlers who held some of the currency on a qualifying exchange as of last Saturday.
As the chain snapshot approached, and traders rushed to grab as much XRP as possible, the token’s price catapulted to annual highs. The growth was so rapid that it even outpaced Bitcoin and many other cryptocurrencies.
XRP rose from $0.22 in November 2020 to an annual high of nearly $1 in less than a month, and the number of XRP whales jumped to all-time highs.
But the hype failed to hold, and Ripple's token began a choppy, but clearly bearish pattern correction that deepened after the airdrop snapshot.
When analyzing XRP’s performance in four-hour intervals, the price of the token tends to rise and fall at a near symmetrical rate. It taps a minimum, then reaches a peak during each four-hour period. This has happened over and over since November 26, with each phase having a shorter length than the previous one.
If this pattern persists, traders may be in for a new, shorter cycle in which XRP’s price exceeds $0.5 and then falls below the current price of $0.49.
Whether the price falls further or recovers will tell us whether the coin’s initial spike was driven purely by the Flare Network hype. Either way, the XRP Army probably wouldn’t mind another airdrop marketing ploy right about now.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
The share prices of crypto-focused companies jumped this week amid the wider market upturn that sent Bitcoin to multiple all-time highs and despite a lull on Friday in equity indexes. Coinbase and Strategy both rose about 9% and 12%, respectively, over the past five days, according to Yahoo Finance data. Stock and crypto trading platform Robinhood climbed 5%. The stock prices of major Bitcoin miners also spiked with MARA Holdings soaring about 12%. Those gains have come as Bitcoin rose above $11...
Consumer products company Upexi is bolstering its Solana treasury, raising $200 million to fund business operations as well as further SOL purchases, it announced on Friday. The funds will come from two separate financing vehicles, with $50 million in net proceeds expected via an equity offering and $150 million from the sale of convertible notes. Each offering is expected to close next week. “Today, we announced a blockbuster deal with a $150 million in kind convertible note led by Big Brain...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week: CoreWeave and Core Scientific plan to make it official, Bitcoin ETFs are booming, a BTC and Dogecoin miner embraces Solana, and Bitcoin's biggest treasury holder takes a week off from the buying grind. Core fusion dance Bitcoin miner Core Scientific and newly public AI powerhouse CoreWeave have decided to do the fusion dance in a staggering $9 billion all-stock transaction. Unfortunately...