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Onyxcoin (XCN) has jumped 20% this week, marking a double-digit rally that has caught the attention of institutional investors. 

As the altcoin’s price climbs, technical analysis reveals a rise in accumulation from large investors, often called “smart money,” signaling increased optimism about the token’s short-term price growth.

Institutional Confidence in XCN Grows

The surge in institutional interest is evident in XCN’s climbing Smart Money Index (SMI). As the token’s price rallied over the past week, its SMI has also climbed and currently stands at 0.91. 

​The SMI indicator tracks the trading activity of institutional investors, often considered the “smart money.” It analyzes intraday price movements, focusing on the first and last trading hours. 

When the SMI rises alongside an asset’s price, major investors are accumulating positions, indicating confidence in the asset’s upward trend. This alignment between XCN’s SMI and its price rally is a bullish signal, reflecting strong market sentiment and the potential for a continued price increase.

Moreover, readings from XCN’s Moving Average Convergence Divergence (MACD) indicator support this bullish outlook. At press time, the token’s MACD line (blue) rests above the signal line (orange).

This crossover is typically interpreted as a bullish signal, suggesting upward momentum is gaining strength. It indicates that XCN’s recent buying pressure is outpacing historical averages, which could lead to continued price gains.

XCN Bulls Hold the Line

On the daily chart, the XCN token rests solidly above its 20-day exponential moving average (EMA). This key moving average forms dynamic support below the token’s price at $0.017.

An asset’s 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When an asset’s price trades above this indicator, the bulls have market control as buying pressure outweighs selloffs.

If this trend persists for XCN, its price could break above the resistance at $0.023 and climb toward $0.028. Should the bulls flip this level into a support floor, XCN could reclaim $0.033.

However, a surge in profit-taking activity will invalidate this bullish projection. In that scenario, the XCN token value could plunge below its 20-day EMA at $0.017 and fall toward $0.0075.

The post Onyxcoin (XCN) Surges 20% as Smart Money Signals Bullish Momentum appeared first on BeInCrypto.

XRP has recently struggled to break through key resistance at $2.56, a level that the crypto token’s price has failed to surpass twice this month. This barrier remains the final hurdle on its path to $3.00. 

However, despite showing some positive movement, the altcoin’s failure to break this resistance could signal a continued consolidation phase, especially given the current market conditions.

XRP Investors Are Uncertain

The Network Value to Transaction (NVT) Ratio for XRP has reached a five-year high, a level not seen since January 2020. This metric compares a cryptocurrency’s market capitalization to the volume of transactions conducted on its network. 

A high NVT ratio indicates that while investors are bullish, their optimism is not translating into actual growth or usage of the network. This disparity typically signals an overheated market, which often corrects as the excitement cools off. 

The current NVT ratio suggests that XRP’s value is outpacing its transaction activity, which is a bearish signal. As the market cools, this imbalance could lead to a price correction, further hindering XRP’s attempts to break through key resistance levels. 

XRP’s macro momentum is also showing signs of strain. The network’s growth is currently at a four-month low, reflecting a decline in the rate at which new addresses are created.

This is a critical metric for assessing a cryptocurrency’s traction in the market, as a growing number of active addresses usually indicates increased adoption. 

In XRP’s case, the lack of new address creation suggests that the altcoin is struggling to attract new investors.  The lack of incentive for new investors to join the network further dampens XRP’s outlook. 

XRP Price Finds Breakout Difficult

XRP is currently trading at $2.40, just below the resistance of $2.56. This level has proven to be a strong barrier, with XRP failing to breach it twice this month.

As a result, the altcoin is likely to continue consolidating between the $2.27 and $2.56 range. This period of consolidation may persist if the market conditions remain unchanged.

Should bearish conditions worsen, XRP could slide below its support at $2.27. In this case, the price may fall to $2.14 or lower, erasing much of the recent recovery from the $2.00 level.

The continuation of this downward movement would reinforce the bearish outlook.

However, if XRP can breach the $2.56 resistance and flip it into support, the bearish thesis would be invalidated. A successful breakout could push XRP toward $2.95 and, ultimately, the $3.00 mark.

This would require strong support from investors and a more favorable market environment to sustain the upward momentum.

The post XRP New Investor Rate Falls to 4-Month Low, Price Recovery Challenged appeared first on BeInCrypto.

A little-known meme coin called Kekius Maximus saw a dramatic price surge on Friday, gaining over 120% within hours. The sudden rally followed Elon Musk’s update to his X (formerly Twitter) profile.

Musk’s name change on X often follows up with these speculative pumps, but certain reg flags on KEKIUS are fueling notable concerns.

Kekius Maximus Keeps Pumping

Musk adopted the name “Kekius Maximus” on his X account and changed his avatar to an AI-generated image of himself in gladiator-style armor.

This led to renewed interest in the coin, which had largely gone unnoticed in recent months.

According to CoinGecko data, the digital asset spiked from obscurity to a four-month high of $0.06. This is far below its all-time peak of $0.4011, set during a similar Musk-induced meme moment in January.

Meanwhile, the current spike pushed Kekius Maximus’ market cap to roughly $57 million, which is also well off its previous high of $181 million.

The token’s branding draws on the Pepe the Frog meme and the iconic Maximus character from the film Gladiator. This combination aligns with Musk’s rebrand and appeals to his meme-savvy audience.

Musk has not acknowledged the coin or suggested any direct involvement despite the token’s meteoric rise.

Still, his history of influencing crypto markets through subtle or playful social media gestures is well established. This is evidenced in his past endorsements of Dogecoin, which have trained investors to react quickly to any signal, even if indirect.

So, Kekius’s rally highlights a recurring theme in crypto markets where Musk’s online activity often catalyzes sudden speculative booms.

Even without a formal endorsement, a simple reference or image change can trigger a wave of FOMO-driven buying among investors.

Prior to this event, Kekius Maximus had shown little movement or trading volume. Musk’s rebrand appears to have injected new life into the project, albeit temporarily. History suggests that similar meme-driven pumps often retrace once the hype subsides.

Meanwhile, malicious actors appear to be capitalizing on the project’s hype. Crypto analysts highlighted one Kekius-themed project whose team held 99% of the supply and looked to dump it on the community.

“$KEKIUS (CA 6m51rC2jRZkrtQkNNP4sXrSTE6Yq76F9huA8MYRtpump) is a blatant obvious scam, don’t buy this garbage…they have 99% of the supply,” the analyst wrote.

The post Elon Musk-Inspired Kekius Maximus Rallies But Scam Warnings Raise Red Flags appeared first on BeInCrypto.