XRP Strengthens Under The Weight Of Heavy FUD And Loss-Selling, What This Mea...
XRP has shown remarkable resilience after a turbulent event that saw over $19 billion wiped out from the crypto market. The token, which had fallen below $1.90 just ten days ago, is now showing signs of strength and looking like it’s going to break past $2.50 anytime soon. This rebound comes amid an atmosphere of widespread fear, uncertainty, and doubt (FUD) across the market. Despite the shaky sentiment, on-chain data suggests that this is a buy signal for XRP. XRP Rebounds Strongly After Market Capitulation Santiment’s latest data reveals that XRP’s recovery from its flash crash lows....
Related News
A recent debate on the social media platform X has drawn attention to XRP’s long-term price outlook after an XRP enthusiast, Crypto Bitlord, proposed a rather wild scenario where the cryptocurrency teleports to $500 instantly. His post, which imagined XRP being used by the US government to pay off its $35 trillion debt, caused some reactions across the XRP community. In response, well-known crypto analyst ChartNerd stepped in to temper expectations, explaining that while XRP’s future is bright, such a leap to $500 is far from realistic this market cycle. ChartNerd’s Take On Realistic XRP....
According to Fortune, Wall Street Heavy Weight, Michelle Burns has joined the Board of Circle. "Burns's move is another sign that Bitcoins are starting to gain some following among established financial players. She is the former CEO of human resources consulting firm Mercer. Along with Goldman (GS), she is also on the board of Cisco Systems (CSCO) and the Elton John Aids foundation. She is also a former board member of Wal-Mart (WMT). And her Wal-Mart connection might be the most valuable to Circle, and Bitcoin in general. A growing number of retailers are considering whether to accept....
On-chain data shows Bitcoin long-term holder SOPR has reached the deepest value since 2019, suggesting this cohort has been realizing some heavy losses recently. Bitcoin Long-Term Holder SOPR Continues To Trend Down As pointed out by an analyst in a CryptoQuant post, BTC long-term holders are currently realizing the largest amount of losses since 2019. The “spent output profit ratio” (or SOPR in brief) is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now. The metric works by checking through the transaction history of each coin....
Law enforcement authorities in Spain have arrested a man who was selling drugs procured from the deep web. Bitcoin and drugs are known to go well together. While there is some truth to it, the media has portrayed digital currency as the preferred currency for buying and selling illegal drugs, contraband and weapons. But again the definition of “Illegal Drugs” vary from place to place. The law enforcement authorities in A Coruna province recently arrested a man who was selling drugs over the internet in the region. According to the police, the perpetrator used to place online advertisements....
Data shows the Bitcoin long-term holders have been selling their coins at a loss for a period of four months now. Bitcoin Long-Term Holder SOPR Has Remained Below 1 Recently As per the latest weekly report from Glassnode, the BTC long-term holders have continued to sell at a loss in recent weeks. The relevant indicator […]