Price analysis
XRP Price Analysis Hints Major Breakout as Whale-to-Exchange Metric Drops
Published
4 months agoon
By
adminFor over a week, the XRP price analysis showcased a sluggish trend struggling to breach $0.64 resistance. This period of consolidation may be linked to market participants holding out for the expected settlement between Ripple and the U.S. Securities and Exchange Commission. Although there are no significant developments in the legal proceedings over weekends, a notable trend in whale activity suggests a potential upcoming rally. Here’s an explanation of how the price action forms a supportive bullish pattern.
Also Read: XRP Lawyer John Deaton Attends Bitcoin Conference, Gains Maxis Support
XRP Price Analysis: Pennant Pattern Signals Impending Breakout
Amid the July market recovery, XRP emerged as one of the top performers, surprising many. The daily chart captured a swift turnaround, with the price escalating from $0.38 to a peak of $0.63—a remarkable 66% increase.
While this rally was partly driven by the broader market’s recovery, it was also fueled by the nearing conclusion of the Ripple vs. SEC lawsuit, marked by anticipated settlements. However, after a delay in the conclusive meeting, XRP’s price has been trading sideways since July 18th.
The short-body candles with long wicks show no initiation from buyers or sellers in the daily charts. However, a deeper analysis of the 4-hour chart showed the XRP price resonating between two trendlines to form a pennant pattern.
This chart setup is commonly spotted in established uptrends allowing buyers to recuperate before the next leap. The recent jump above daily EMAs (20, 50, 100, and 200) hints at an early sign of trend reversal.
With an intraday gain loss of 0.33%, the XRP price currently trades at $0.6, while the market cap holds at $33.6 Billion.
A potential breakout from the overhead trendline will signal the uptrend continuation, and bolster buyers to escape the long accumulation led by a triangle pattern since September 2021.
If the pattern holds true, the post-breakout rally could target $0.92, followed by $1.41.
Also Read: Peter Schiff Blasts RFK Jr’s Bitcoin Buy Plan As ‘Vote-Buying’ Strategy
Additionally, data from CryptoQuant indicates a downward trend in the Whale to Exchange Flow on the XRP ledger. This decrease could imply that large investors are choosing to retain their holdings, potentially in expectation of future price gains or because of unsatisfactory selling conditions.
Such holding behavior by whales is often interpreted as a sign of their confidence in the long-term value of the asset.
On a contrary note, if the XRP price witnessed renewed supply pressure at triangle resistance at $0.64, the sellers could attempt another reversal.
Frequently Asked Questions (FAQs)
The Whale to Exchange Flow metric measures the volume of tokens transferred from large holder (“whale”) wallets to exchange platforms. A decline in this metric for XRP suggests that whales are not selling their holdings, which can reduce selling pressure and support price stability
Ripple’s CEO, Brad Garlinghouse, has recently hinted that a settlement with the U.S. Securities and Exchange Commission (SEC) could be very soon. This statement has generated considerable excitement and speculation within the XRP community
The anticipated settlement between Ripple and the SEC, coupled with XRP’s breakout from a multi-year triangle pattern, is expected to drive a rally towards the $1 mark.
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Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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.
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All-Time High
Cryptocurrencies That Soared to All-Time High, Rewarding Investors with Massive Returns
Published
11 hours agoon
November 12, 2024By
adminThe cryptocurrency market has displayed remarkable strength, with the overall global market capitalization soaring to $2.93 trillion, approaching the significant $3 trillion threshold. This achievement, as stated by the International Monetary Fund (IMF), positions the value of the crypto market higher than the GDP of whole countries, such as Spain. Fueled by this increase, Bitcoin (BTC), RabBitcoin (RBTC), and Sui (SUI) have recently reached all-time high, delivering remarkable gains to investors. Here’s an overview of these leading performers — along with an additional token creating notable excitement.
Cryptocurrencies Hitting All-Time High
1. Bitcoin (BTC): All-Time High Nearing the $90,000 Mark
Bitcoin, one of the top cryptos to buy, continues to maintain its dominance, recently reaching an all-time high of $89,956.88 on November 12, 2024. This recent rise follows its largest daily surge ever, soaring over $8,400 in only one day.
This increase came after Donald Trump’s recent victory in the U.S. presidential election, which numerous experts associate with favorable cryptocurrency regulations and expected shifts in economic policy.
These factors have renewed investor confidence in Bitcoin price, leading multiple market analysts to predict a climb toward the $100,000 mark by year-end and possibly hitting $1 million over time. Boasting a market capitalization over $1.73 trillion, Bitcoin remains the cornerstone of the cryptocurrency landscape, offering significant returns to investors.
2. RabBitcoin (RBTC): A 379% Weekly Surge to All-Time High
RabBitcoin (RBTC), the native token of the Rocky Rabbit gaming platform, has captivated the market with remarkable growth. RBTC’s unique appeal lies in its integration with Rocky Rabbit’s blockchain-based gaming experience, offering players a play-to-earn model.
This innovation, combined with Bitcoin’s rally, has driven RBTC’s weekly growth by an impressive 379%, with its all-time high recently peaking at $0.00003269. According to CoinMarketCap, RabBitcoin’s market cap of $150.7 million and 24-hour trading volume of $23.11 million illustrate its growing popularity and potential for continued growth.
With gameplay tied to cryptocurrency rewards, RBTC provides both gamers and investors with promising opportunities.
3. Sui (SUI): Pioneering a User-Centric Blockchain Experience
Sui (SUI) has quickly established itself as a transformative force within the crypto landscape. As a layer-1 blockchain, Sui’s technical framework prioritizes scalability, security, and user accessibility, qualities that have driven its all-time high to $3.30.
Even though the value of the token has slightly retraced, the past seven days has seen SUI gain 54.31%, marking a steady climb and increasing investor interest. Through innovations like zkLogin and programmable transaction blocks, Sui offers users a streamlined experience that’s rare in the Web3 space.
With a market cap of $8.57 billion and strong community support, Sui stands out as a foundational blockchain project, rewarding early investors with substantial returns.
4. Minotaurus ($MTAUR): The Up-and-Comer
Amidst these major coins, Minotaurus ($MTAUR) is capturing attention as a promising newcomer, especially within the blockchain gaming space. MTAUR recently reached the 100K USDT milestone in its presale, attracting both participants and gamers alike.
Priced at 0.0000598 USDT — a 70% reduction from its listing price of 0.00020 USDT — Minotaurus offers substantial growth potential. Early supporters have already experienced an increase of around 50%, and with the token listing approaching, further progress is likely.
Minotaurus’s appeal goes beyond speculation. In the game, MTAUR tokens unlock special features, power-ups, and exclusive zones, creating intrinsic value. Additionally, Minotaurus leverages a cliff and vesting structure, ensuring long-term stability and fostering community engagement.
With its focus on casual gaming, a market worth $15 billion, Minotaurus is well-positioned to benefit from broader trends in both crypto and gaming. Plus, the project’s security has been validated through audits by SolidProof and Coinsult, offering participants additional peace of mind.
Conclusion
As Bitcoin, RabBitcoin, and Sui reach all-time highs, the crypto market’s momentum seems unstoppable. These coins not only represent different aspects of the cryptocurrency ecosystem but also reward investors willing to navigate the market’s risks.
Meanwhile, Minotaurus (MTAUR) offers a unique opportunity with its strong fundamentals and growth potential, making it a project to watch in the blockchain gaming arena. For those ready to act, this diverse set of assets offers both stability and potential for massive returns in a rapidly expanding market.
Frequently Asked Questions (FAQs)
These cryptocurrencies hit all-time highs due to market optimism, tech advancements, and economic shifts, rewarding investors with significant returns.
Minotaurus boasts strong fundamentals and gaming utility, offering referral and vesting bonuses. Priced at a 70% discount, it attracts early investor interest.
Cryptocurrencies exhibit market risks due to volatility. Bitcoin offers high liquidity and adoption, while RBTC and SUI leverage unique gaming and blockchain features. MTAUR’s gaming utility and presale incentives promise upside but entail risks of new projects.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
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.
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doge
Will Dogecoin Price Soar To $1.8 After Clearing A 3-Year Resistance?
Published
21 hours agoon
November 12, 2024By
adminDogecoin price recorded 43.4% extended gains over the last 24 hours and is now trading at $0.4050. This increase follows Bitcoin’s aggressive surge to a new all-time high of $89,561. Moreover, the price rise has resulted in a breakout of a 3-year resistance level, which could catapult DOGE’s price back to its previous all-time high and higher, potentially to $1.8.
Dogecoin Price Soars Amid Bitcoin Price Explosion
Following BTC’s price surge, Dogecoin now sits at a $53 billion market cap, just below BNB (BNB). This is the highest DOGE price in the last 3 years and is just about 2X away from reaching its previous all-time high. The next leg up from here could see the dog-themed meme coin displace BNB and Solana (SOL) and be the fourth-largest crypto asset by market cap.
DOGE is the best performer among the top 10 crypto assets (excluding stablecoins). It has gained 252% in the last 30 days, followed by Cardano (ADA) at 66%. XRP (XRP) was the worst-performing asset in the top 10 in the last month, gaining only 12%.
Dogecoin Eyes Additional Gains Back To ATH
After breaching the $0.35 resistance, Dogecoin’s price has little obstacle ahead. The path to the previous all-time high is clear, and on-chain metrics support an extended move higher. Coinglass data shows over $320 million worth of Longs compared to only $20 million Shorts across Binance, OKX, and Bybit. This imbalance suggests bullish sentiment dominates the market, and Dogecoin may surge higher.
IntoTheBlock data indicates that 95.25% of Dogecoin investors are in profit, with only 0.02% in loss and 4.73% at the money. This figure could quickly change as the Dogecoin 24-hour trading volume has increased by 26% per Coingecko data, suggesting that investors are still buying into the project.
Dogecoin Eyes New All-Time High At $1.8
Based on the current volatility in Dogecoin price action, market observers project that DOGE could surge above $1 by the end of the year. The DOGE chart shows a strong upward breakout from a prolonged accumulation phase, pushing above the major resistance levels around $0.23 and $0.35. The next major resistance is around $0.7605, a level that DOGE last reached during its peak in 2021.
Dogecoin price forecast shows the asset might be entering an impulsive wave, potentially targeting higher resistance levels in the next bullish wave. If this rally sustains, it could push toward $0.76 as the final target within this wave.
Frequently Asked Questions (FAQs)
Dogecoin surged 27.9% after breaking a 3-year resistance level, following Bitcoin’s new all-time high of $89,561.
Yes, Dogecoin is just 2X away from its previous all-time high. The current breakout suggests it could target $1.8 in the next rally.
Market data shows strong bullish sentiment, with $320 million in Longs vs. $20 million in Shorts across major exchanges.
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Evans Karanja
Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.
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.
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Pepe All-time high
Pepe Coin Price Poised for 30% Upswing in Bullish Rally
Published
1 day agoon
November 11, 2024By
adminPepe (PEPE) price, a major meme coin, recently experienced a strong price surge, mirroring a broader cryptocurrency market rally. This increase reflects growing bullish sentiment, with investors showing confidence in further gains. Analysts expect continued momentum for altcoins, driven by a generally positive crypto market outlook. Pepe aims for a potential 30% increase as optimism rises across the sector.
Pepe Coin Price Eyes Major Gains with 30% Bullish Potential
Crypto analysts predict that Pepe Coin could soon see significant gains, with a bullish outlook suggesting a 30% potential increase. The meme coin, appears set to venture into uncharted price territory.
$PEPE & Crypto Is On The Way To Outer Space 🐸🚀🌌
We Are Heading To Unexplored Territory 📈
Latest #PEPE & Crypto News Update 👇🐸📺 pic.twitter.com/HOF4TSzkOu
— Crypto Zeus ⚡ (@CryptoZeusYT) November 11, 2024
Market trends and indicators signal a strong upward trajectory for Pepe Coin as it prepares to break previous resistance levels. Many investors are watching closely, anticipating the meme coin’s move toward “outer space” in the crypto landscape.
The next few weeks may reveal if Pepe Coin’s bullish trend will hold as excitement grows in the broader crypto community.
Pepe Price Sees Modest Gains Amid Volatility
Over the past week, the meme coin has shown slight upward momentum. The latest PEPE price is at $0.00001287, with a modest 3% increase within the day. The cryptocurrency’s recent performance indicates volatility, with a daily low of $0.00001148 and a high of $0.00001309, reflecting the market’s mixed sentiment.
Despite the recent gains, Pepe’s price remains significantly below its all-time high of $0.00001718, recorded on May 27, 2024. This marks a drop of around 30% from its peak value. On the other hand, Pepe’s all-time low of $0.000002764, registered on April 17, 2023, suggests a substantial growth potential, showing over 45,600% appreciation since its inception.
Will PEPE Hit ATH in This Bullish Run?
Today, Bitcoin surged to an all-time high of $85,000, fueling global investor enthusiasm. Altcoins followed suit, experiencing significant gains. This unprecedented crypto market rally has strengthened investor confidence as digital assets witness remarkable market growth, reaffirming optimism in cryptocurrency investments.
The whale transaction count in PEPE has surged, crossing 244 transactions involving over $100,000. This spike coincides with rising PEPE prices, hitting a new level. Increased whale activity suggests heightened interest, potentially signaling further market momentum. Elevated transaction volumes may attract additional investors, making PEPE’s market movements more volatile.
Ethereum-based token PEPE has experienced impressive growth recently, showing a steady upward trend. If this bullish momentum holds and key resistance remains intact, analysts predict PEPE could soon reach price targets near $0.00001718, marking a potential 30% surge. The Relative Strength Index (RSI) indicates 71, marking an overbought condition.
Pepe Coin Price shows strong bullish potential, driven by rising investor confidence and market momentum. Analysts foresee a 30% surge if key resistance levels hold. Whale activity boosts optimism, while market conditions support further gains.
Frequently Asked Questions (FAQs)
Investor optimism, whale activity, and a strong crypto market rally.
Analysts suggest it may approach previous highs if momentum holds.
It has risen over 45,600% from its all-time low in April 2023
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.
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