Schlagwort: crypto business

Key takeaways

• XRP has gained 2% over the past 24 hours, rebounding from the $1.20 support area.
• XRP Ledger’s proposed Single Asset Vault (XLS-65) and Lending Protocol (XLS-66) have attracted validator support of 60% and 54%, respectively.
• XRP must break above $1.32 to strengthen its bullish outlook and potentially target $1.40. 

XRP has rebounded sharply, gaining 2% over the past 24 hours as buyers return following last week’s cryptocurrency market sell-off.

The recovery has pushed XRP back above the important $1.26 level, which briefly gave way after the $6.3 billion Binance security breach triggered widespread selling pressure.

Trading activity has also improved, with daily volume rising nearly 30% to approximately $1.8 billion.

However, the rebound has yet to trigger a significant wave of short liquidations, suggesting that XRP has not broken through the resistance levels needed to confirm a sustained bullish reversal.

XRP rebounds from $1.20 following Binance hack

XRP’s latest recovery follows a difficult period for the broader cryptocurrency market. The token dropped toward $1.20 after the Binance hack, reaching a price area last visited on August 20.

The incident sparked concerns about cryptocurrency exchange security and prompted substantial withdrawals from Binance as investors reassessed their exposure.

As confidence gradually improved, XRP recovered above $1.26, reclaiming a level that previously served as support during the recent decline.

The rebound has been accompanied by increased trading activity. Daily volume has climbed to approximately $1.8 billion, accounting for more than 2% of XRP’s circulating market capitalization.

Broader macroeconomic conditions may also be contributing to XRP’s recovery. West Texas Intermediate (WTI) crude oil fell below $100 per barrel for the first time since October 15, despite continuing geopolitical tensions involving the United States and Iran.

Lower oil prices can help ease inflation concerns by reducing energy-related costs across the economy.

If the decline persists, it could also influence expectations for the Federal Reserve’s December interest rate decision.

A more favorable inflation outlook may reduce pressure on policymakers to raise borrowing costs, potentially improving sentiment toward risk-sensitive assets such as cryptocurrencies.

XRP Ledger lending proposals gain validator support

Beyond the broader market recovery, developments within the XRP Ledger could provide additional support for XRP’s medium-term outlook.

Two proposed amendments designed to introduce native lending capabilities are attracting growing support from network validators.

The first, XLS-65, would introduce Single Asset Vaults, a feature intended to support lending-related functionality on the XRP Ledger.

According to the supplied XRPScan data, the proposal has reached approximately 60% validator approval. That places it 20 percentage points below the 80% threshold required for amendment activation, although meeting the threshold must also satisfy the network’s applicable activation conditions.

The second proposal, XLS-66, focuses on the Lending Protocol itself. It currently has approximately 54% validator support, leaving it further from the required approval threshold.

The two proposals are closely related because the proposed lending functionality would depend on the infrastructure provided by Single Asset Vaults.

If XLS-65 gains sufficient support, validators may be more inclined to approve XLS-66, although neither outcome is guaranteed.

Together, the proposals could expand the XRP Ledger’s decentralized finance capabilities by introducing new lending-related use cases.

XRP reclaims $1.27 as RSI signals bullish momentum

XRP’s four-hour chart shows improving short-term momentum following its rebound from the $1.20 area.

The token has reclaimed $1.27, a level that previously acted as support before the Binance-related sell-off pushed prices lower.

Recovering this area is an encouraging development because it suggests buyers are attempting to rebuild the market’s short-term bullish structure.

The Relative Strength Index (RSI) on the four-hour chart currently stands near 64. An RSI reading above 50 generally indicates that bullish momentum is strengthening, while a move above 70 can suggest that an asset is becoming overbought.

Although trading volume has increased, XRP still needs stronger participation to overcome resistance levels that previously attracted selling.

The next major challenge for XRP buyers is the resistance level at $1.32. A decisive breakout above this area would strengthen the short-term bullish outlook and suggest that the recent rebound is developing into a more sustained recovery.

If buying momentum continues, XRP could extend its advance toward $1.40. However, the $1.32 level may attract renewed selling from traders looking to exit positions after the recent decline.

A rejection at this resistance could trigger another pullback toward $1.26. If that level fails to hold, the next important support lies near $1.20, where buyers previously stepped in following the Binance-related sell-off.

Below $1.20, traders will be watching potential demand zones around $1.14 and $1.08. These areas correspond to fair value gaps (FVGs) identified on the four-hour chart.

The post XRP bulls reclaim $1.27, but $1.32 resistance threatens recovery appeared first on CoinJournal.

Key takeaways

• Ethereum (ETH) has reclaimed $2,300 after falling below its realized price of $2,309 following the $6.3 billion Binance hack.
• US spot Ethereum ETFs recorded their seventh consecutive trading day of outflows on Tuesday.
• ETH faces immediate support at $2,250, followed by $2,204 and $2,107, while a recovery above $2,309–$2,355 could improve the short-term outlook.

Ethereum (ETH) has reclaimed the $2,300 level on Wednesday after adding more than 2% to its value in the last 24 hours. 

The second-largest cryptocurrency has failed to reclaim its realized price of $2,309, a closely watched on-chain level representing the average acquisition cost of ETH based on its last movement across the blockchain.

Ethereum slipped below this threshold following last Thursday’s $6.3 billion Binance security breach, which triggered renewed uncertainty across the cryptocurrency market.

The failure to recover the level comes as US spot Ethereum exchange-traded funds (ETFs) experience sustained withdrawals, reinforcing concerns about institutional demand.

Although ETH continues to defend support near $2,250, its technical indicators suggest that sellers retain the upper hand.

Ethereum approaches the $2,309 realized price

Ethereum’s recent price action highlights the growing importance of its realized price, currently estimated at $2,309.

According to CryptoQuant data, ETH fell below this level following the Binance hack and has struggled to recover it over the past two days.

The realized price measures the value of coins based on the price at which they last moved on-chain, divided by the relevant coin supply.

It is commonly used as an approximation of the market’s aggregate cost basis, although it does not capture every investor’s actual purchase price.

When an asset trades above its realized price, the market is generally considered to be holding an aggregate unrealized profit.

A move below the indicator suggests that the average on-chain cost basis is higher than the prevailing market price.

This can influence investor behavior, particularly during periods of uncertainty. Before last Thursday’s decline, Ethereum had traded above its realized price for more than a week, with buyers repeatedly defending the level.

However, the recent breakdown has changed the short-term market structure. ETH has encountered resistance around $2,309 during recovery attempts, suggesting that some investors are using rebounds toward their cost basis to reduce exposure.

A sustained move back above the realized price would be an encouraging development, potentially indicating that buying demand is returning.

Institutional demand remains another major concern for Ethereum. According to SoSoValue data, US-listed spot Ethereum ETFs recorded nearly $85 million in net outflows on Tuesday, extending their withdrawal streak to seven consecutive trading days.

The latest redemptions follow an especially difficult October, when the funds experienced a record $1.61 billion in monthly net outflows.

The sustained withdrawals suggest that investors have been reducing their exposure to ETH through regulated investment products.

Ethereum holds $2,250 as bulls slowly regain control

Ethereum’s daily technical outlook is slowly switching bullish as ETH remains below several important Exponential Moving Averages (EMAs).

The 20-day EMA stands at $2,352, while the 100-day EMA is positioned at $2,345. Both indicators sit close to the horizontal resistance at $2,355, creating a concentrated supply zone that could limit recovery attempts.

The 50-day EMA at $2,411 provides another significant resistance level. Ethereum’s position below these moving averages suggests that the short- and medium-term trends remain under pressure.

Momentum indicators support this cautious outlook. The 14-day Relative Strength Index (RSI) is hovering around 39, below the neutral level of 50.

Meanwhile, the Stochastic Oscillator near 34 suggests that upside momentum remains limited.

Together, these indicators show that buyers have yet to regain meaningful control of the market.

The immediate support level for Ethereum stands at $2,250. A sustained defense of this area could allow ETH to consolidate and attempt another recovery toward its realized price at $2,309.

However, a decisive daily close below $2,250 would weaken the near-term technical structure and expose the next support at $2,204.

If selling pressure intensifies, Ethereum could extend its decline toward $2,107. A deeper correction would bring the structural support levels at $1,971 and $1,827 into focus.

On the upside, buyers must first reclaim the $2,309 realized price to improve the immediate outlook.

The next major resistance zone lies between $2,345 and $2,355, where the 100-day and 20-day EMAs converge with horizontal resistance.

A sustained breakout above this area could encourage a recovery toward the 50-day EMA at $2,411. Beyond that, additional resistance levels are located at $2,548, $2,636, and $2,781.

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Key takeaways

• Cardano (ADA) trades around $0.188 on Tuesday after breaking below a key support zone, extending its recent decline.
• ADA funding rates have turned positive, suggesting some traders are still positioning for a potential recovery.
• ADA faces resistance between $0.215 and $0.218, while a prolonged decline could expose the $0.155 support level.

Cardano (ADA) remains under pressure on Tuesday, trading around $0.188 after losing an important support level in the previous session. 

The cryptocurrency has struggled to attract buyers, with weakening technical indicators suggesting that its recent correction may not be over.

Derivatives data also paints a mixed picture. While Cardano’s funding rate has returned to positive territory, its long-to-short ratio shows that bearish positioning remains dominant.

Meanwhile, on-chain and trading activity indicators point to continued selling pressure, leaving ADA vulnerable to further losses unless buyers can reclaim key resistance levels.

Cardano derivatives data show traders remain cautious

Cardano’s derivatives market is showing signs of uncertainty as traders weigh the possibility of a price recovery against the risk of another decline.

According to CoinGlass, ADA’s long-to-short ratio stood at 0.8248 on Tuesday, approaching its lowest reading in more than a month.

A ratio below 1 indicates that short positions outnumber long positions in the measured market, suggesting that more traders are positioning for a decline than a recovery.

The latest reading reflects a cautious outlook, particularly as ADA continues to trade below several important technical levels.

However, funding rates suggest that bullish traders have not completely abandoned the market.

Cardano’s funding rate turned positive on Tuesday, reaching 0.0097%.

Positive funding means traders holding long positions are paying those with short positions to maintain their leveraged exposure.

This indicates that some market participants remain willing to bet on a potential rebound despite the broader weakness in ADA’s price.

The difference between the two indicators suggests that traders remain divided over Cardano’s next move.

While the long-to-short ratio reflects a bearish tilt, positive funding shows that demand for leveraged long exposure persists.

Such mixed positioning can contribute to volatility, particularly when sudden price movements force leveraged traders to close their positions.

For now, however, the derivatives data offers little evidence of a decisive shift toward bullish sentiment.

Beyond derivatives positioning, Cardano’s spot and futures markets are also showing signs of weakness.

According to CryptoQuant’s market summary, both markets have recorded large whale orders alongside indicators of overheating and sell-side dominance.

The presence of large orders suggests that major market participants remain active, although the accompanying selling pressure points to a cautious trading environment.

Whale activity can have a considerable influence on price movements, especially during periods of weak liquidity or heightened volatility.

When large orders appear alongside sell-side dominance, they can increase concerns about further downward pressure.

CryptoQuant’s overheating signals also suggest elevated market activity, which may leave ADA more vulnerable to sharp price swings.

Taken together, these indicators suggest that sellers continue to hold an advantage, despite the positive funding rates seen in the derivatives market.

However, whale orders alone do not confirm that large holders are selling their existing ADA holdings. A clearer picture would require additional data on exchange flows and wallet activity.

Until buying demand strengthens, the current market conditions could make it difficult for Cardano to establish a sustained recovery.

ADA risks further decline toward $0.155

Cardano trades around $0.187 on Tuesday, with its daily technical structure continuing to favor sellers.

The cryptocurrency has slipped below a previously rising support trendline, which now acts as resistance around $0.218.

Losing this trendline has weakened ADA’s price structure, suggesting that buyers are struggling to defend levels that previously supported the market.

Cardano is also trading below its 100-day Exponential Moving Average (EMA) at $0.215 and its 50-day EMA at $0.216.

Both moving averages are positioned well above the current price, creating a resistance zone that could limit recovery attempts.

Momentum indicators reinforce the cautious outlook. The Relative Strength Index (RSI) is hovering near 30, placing ADA close to oversold territory.

Although this suggests that selling pressure may be becoming stretched, it does not necessarily mean that a recovery is imminent.

Cryptocurrencies can remain near oversold conditions for extended periods when bearish momentum is strong.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative, indicating that sellers continue to dominate despite signs of weakening momentum.

On the upside, Cardano faces its first major resistance between $0.215 and $0.218. This area brings together the 100-day EMA at $0.215, the 50-day EMA at $0.216, and the former ascending support trendline near $0.218.

A sustained recovery above this zone would be an encouraging sign for buyers and could open the door to a move toward $0.236.

Beyond that, the 200-day EMA near $0.239 represents another important obstacle. If bullish momentum strengthens enough to clear these levels, ADA could extend its recovery toward the horizontal resistance at $0.245, followed by the higher barrier at $0.299.

However, such a move would require a meaningful improvement in buying demand and broader market sentiment.

On the downside, the next major support level identified on the chart stands at $0.155.

A continued decline towards this area would represent a significant extension of the current correction.

The $0.155 level could attract buying interest, although a sustained rebound would depend on whether demand is strong enough to absorb the prevailing selling pressure.

The post Cardano dips below $0.19 as bearish derivatives data signals further losses appeared first on CoinJournal.

Key takeaways

• XRP trades below $1.25 on Tuesday as the cryptocurrency struggles to recover.
• CryptoQuant data points to persistent sell-side dominance in XRP, with large whale orders adding uncertainty to XRP’s outlook.
• XRP faces immediate resistance at $1.285 and $1.30, while a deeper decline could bring the $1.16 and $1.00 support levels into focus.

XRP remain under selling pressure on Tuesday as it struggles to recover from their recent declines.

XRP is trading below $1.25, with buyers finding it difficult to push the price back above the $1.30 level.

Data from CoinGlass and CryptoQuant paints a mixed picture. While funding rates suggest some traders are still betting on a recovery, derivatives positioning and on-chain activity indicate that sellers remain influential.

Technical indicators are also showing little evidence of a sustained reversal, leaving both cryptocurrencies vulnerable to further losses.

XRP derivatives data show mixed market sentiment

Derivatives traders appear increasingly cautious about the near-term prospects of XRP, although not every indicator points in the same direction.

According to CoinGlass, XRP’s long-to-short ratio stood at 0.84 on Tuesday. The ratio is below 1, indicating that short positions outnumber long positions in the measured market.

The readings suggest a bearish tilt in positioning, with traders showing limited confidence in an immediate price recovery.

However, funding rates tell a somewhat different story. Funding rates for XRP turned positive on October 30 and have remained above zero.

As of Tuesday, XRP’s funding rate stood at 0.0073%.  Positive funding rates mean traders holding long positions are paying those with short positions, reflecting a willingness among some market participants to maintain bullish exposure.

The contrast between the long-to-short ratios and funding rates suggests that traders remain divided over the next major price move.

While short positioning points to caution, positive funding indicates that some leveraged traders are still anticipating a rebound.

Beyond the derivatives market, on-chain and trading activity data also suggest that XRP and Stellar are facing persistent selling pressure.

According to CryptoQuant’s market summary, XRP’s spot and futures markets are showing sell-side dominance alongside unusually large whale orders.

Large orders from major market participants can influence short-term price movements, especially when liquidity is relatively thin.

CryptoQuant also identifies heating conditions in XRP’s spot market, suggesting heightened trading activity during a period of weak sentiment.

Taken together, these indicators point to a cautious market environment in which sellers continue to have an advantage.

XRP technical forecast: Bears maintain control below $1.30

XRP is trading around $1.2487 on Tuesday, with its daily chart showing that the cryptocurrency remains firmly under bearish pressure.

The token is currently trading below its major Exponential Moving Averages (EMAs), including the 50-day EMA at $1.336, the 100-day EMA at $1.324, and the 200-day EMA at $1.365.

Trading below all three indicators suggests that the broader trend remains weak, with potential recovery attempts likely to encounter resistance.

XRP is also struggling beneath a descending trendline near $1.285 and the psychological resistance level at $1.30.

These two barriers represent the first major obstacles buyers must overcome to improve the short-term outlook.

Momentum indicators offer little encouragement for bulls. The Relative Strength Index (RSI) is hovering around 37, indicating weak buying momentum. 

However, the indicator has not yet entered oversold territory, suggesting that additional downside remains possible before selling pressure becomes technically stretched.

Meanwhile, the Moving Average Convergence Divergence (MACD) remains slightly negative, reinforcing the prevailing bearish sentiment.

On the upside, XRP must first reclaim the descending trendline resistance around $1.285.

A sustained move above this level could open the door for a retest of $1.30, which has emerged as an important short-term resistance zone.

If buyers manage to break above $1.30, attention could shift toward the 100-day EMA at $1.324 and the 50-day EMA at $1.336.

The 200-day EMA at $1.365 represents another significant hurdle. A decisive move above this cluster of moving averages would strengthen the case for a broader recovery toward $1.54 and potentially $1.90.

On the downside, immediate support lies at $1.16. A breakdown below this level could accelerate selling pressure and expose the psychological $1.00 mark, where buyers may attempt to defend the price.

For now, XRP’s technical structure remains bearish, with the inability to reclaim $1.30 keeping sellers in control.

The post XRP struggles below $1.30 amid growing selling pressure appeared first on CoinJournal.

TL;DR

• Dogecoin trades near $0.075 on Monday after five consecutive weeks of declines.
• Wallets holding 10 million to 100 million DOGE have shed 120 million tokens since Thursday.
• The next major support sits near $0.068, while a recovery faces resistance from $0.079 to $0.090.

Dogecoin (DOGE) is struggling to find its footing on Monday, trading around $0.075 after five straight weeks of losses. 

The meme coin has attracted some dip-buying from smaller whales, but larger holders are heading in the opposite direction, leaving the market without a clear signal that the selloff is over.

The split in whale behavior comes as on-chain trading indicators remain weak and DOGE continues to trade below its major moving averages. With sellers still active, the $0.068 support level could soon come into focus.

Large Dogecoin whales sell while smaller holders buy the dip

Santiment’s Supply Distribution data shows that wallets holding between 10 million and 100 million DOGE have reduced their combined holdings by roughly 120 million tokens since Thursday. The selling suggests some of the largest holders are taking risk off the table as the price continues to slide.

Not everyone is selling. Over the same period, wallets holding 100,000 to 1 million DOGE and those holding 1 million to 10 million DOGE accumulated a combined 100 million tokens. These smaller whale cohorts appear willing to buy at lower prices, even as the broader trend remains negative.

The purchases have not fully offset the distribution by larger holders. If that selling continues, DOGE may struggle to build enough momentum for a sustained rebound.

CryptoQuant’s market summary paints a similarly cautious picture. Both spot and futures markets show large whale orders, elevated trading activity described as heating conditions, and sell-side dominance.

Taken together, those signals suggest traders are still more inclined to sell than to chase a recovery. They do not guarantee another decline, but they help explain why Dogecoin has struggled to attract sustained buying interest.

Dogecoin stays below key moving averages

DOGE trades around $0.075 on Monday, below its 50-day Exponential Moving Average (EMA) at $0.082, 100-day EMA at $0.083, and 200-day EMA at $0.090. 

Those levels form a series of overhead barriers that buyers would need to reclaim before the technical outlook improves.

A descending resistance trendline near $0.079 presents the first test. The Relative Strength Index (RSI) remains in the mid-30s, reflecting weak momentum without yet showing a decisive reversal. 

Meanwhile, the Moving Average Convergence Divergence (MACD) is hovering around zero with little directional strength.

A move above the descending trendline at $0.079 would be an early sign that buyers are regaining ground. DOGE would then face the 50-day EMA at $0.082 and the 100-day EMA at $0.083, where sellers could return.

Further resistance stands at $0.088 and the 200-day EMA at $0.090. Only a stronger recovery through those levels would bring the more distant $0.1027 barrier into view.

On the downside, $0.068 is the next major support to watch. A daily close below that level would weaken the chart further and leave DOGE exposed to additional losses, although the supplied analysis does not identify a precise lower target.

For now, the divergence between whale groups offers little comfort to bulls. Smaller holders are buying the dip, but larger wallets continue to distribute tokens, and the technical trend remains bearish. Whether DOGE can defend $0.068 may determine its next meaningful move.

The post Dogecoin could dip lower as large whales sell 120m DOGE appeared first on CoinJournal.