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Plume:- The tokenization of Real World Assets (RWAs) is a booming phenomenon in Web3. The industry is now witnessing new categories of assets being brought onchain – from startup equity deals to public equities themselves. As the RWA market and trading volumes continue to grow, Plume, backed by Galaxy Ventures, has launched an accelerator program
The post Galaxy-Backed Plume To Support RWA Startups, Launches $500K Accelerator appeared first on CoinGape.
Ripple (XRP) price slipped from a daily high of $2.24 to a daily low of $2.13 on May 1, as traders reacted to news around the failed acquisition of USDC stablecoin issuer Circle. This dip triggered a liquidation imbalance, as some traders with open long positions were forcefully closed, causing a surge in sell-side pressure. However, after this crash cleared key liquidation levels below the price, Ripple seems ready for a bullish recovery to $3.
XRP value today stands at $2.23, as data from CoinMarketCap reveals that trading volumes have soared by 19% to $3.42 billion. After recovering above the $2.20 support level, traders are closely watching whether this altcoin could surge past $3.
This recent drop in XRP price caused a 1,000% liquidation imbalance according to analyst ALT4F. Data from Coinglass shows that in the last 24 hours, more than $14 million long positions on XRP were liquidated, marking the highest level in three weeks, while short liquidations came in at around $1.5 million.
Analyst ALT4F noted that the high number of long liquidations indicates that more traders are opening long positions as they anticipate the XRP price may rally. While this long bias suggests that the bullish sentiment towards Ripple is strong, it may also have a negative impact.
Per this analysis, if Ripple plunges below $2.15 under the current market conditions where leverage is notably high, it could trigger a cascade of long liquidations that will push the price further down, and possibly cause a breach of the $2 support level.
However, if XRP breaks out from its tight trading range and pushes above $2.30, then it is likely to avert the risk posed by long traders and rally past $3. Moreover, the liquidation heatmap shows that there is a hot liquidation zone above the price at $2.34, and if XRP can get to this level, the ensuing short liquidations may spark a sustained rally towards $3.
As this heatmap shows, there is a cluster of liquidation levels above price, and if Ripple can rally to clear these levels, the wiped short positions could spark a surge in buying pressure and make a bullish case for the altcoin.
The XRP one-day price chart shows that the altcoin is at a pivotal point, which may explain why it has been consolidating within a tight range as traders hold positions to await a breakout.
XRP is testing resistance from the upper descending trendline of a parallel channel, and if it is successful in breaking out above $2.33, it might extend the rally to $2.61, and this will clear the way for a run up to $3.
The RSI supports this bullish thesis as it rises with higher highs, with the reading of 55 showing that the momentum is bullish. Meanwhile, the on-balance volume is still at range highs, an indication of a strong upward trend.
These technical indicators and the pending breakout support indicate that an XRP price breakout to $3 is next, and if this plays out, traders should await new highs. However, short-term fluctuations may impact liquidations, and considering the high leverage towards Ripple, a slight dip could spark a cascade of long liquidations and push the altcoin lower.
The post XRP Price Crash Causes 1000% Liquidation Imbalance, Is Bullish Recovery to $3 Next? appeared first on CoinGape.
As President Donald Trump’s exclusive gala dinner for top TRUMP coin holders approaches on May 22, analysis of the official winners list reveals a notable dominance of non-US investors. According to reports from CNBC and Bloomberg, the leaderboard of 220 invitees is heavily populated by wallet addresses linked to exchanges that don’t service US customers many top holders are international investors. Trump coin leaderboard shows non-US holder dominance The official TRUMP token leaderboard reveals the top 10 holders control enormous quantities of the meme coin. Many holders even use pseudonymous usernames that offer little insight into their real identities. According to the website, the top holder Sun with a VIP designation controls 1,432,003,302 TRUMP tokens. The second-largest holder, listed as “MeCo,” holds 1,391,538.19 tokens, while the sixth-ranked “Woo” possesses an even 1,000,001 tokens. Other top-10 holders include “CASE” (400,000 tokens), “GAnt” (500,034.299 tokens), and “REKT” (443,686.993 tokens). Source: Trump MEME… Read More at Coingape.com
The post Trump Meme Coin Dinner: Non-US Investors Dominate Attendees List appeared first on CoinGape.
Bitcoin, the leading cryptocurrency, has recently shown signs of recovery after a period of consolidation. Over the past few weeks, BTC’s price action has begun to push higher, suggesting the possibility of a rally that could propel the cryptocurrency toward the much-anticipated $100,000 mark.
This movement has sparked renewed optimism among investors, as a significant price surge could bring considerable profits to those holding Bitcoin.
The MVRV (Market Value to Realized Value) ratio has recently bounced off the mean line of 1.74, which is historically a strong point of confidence for Bitcoin. When this ratio rebounds from the 1.74 level, it often signals the early stages of a bull market. This market structure closely mirrors the one seen during the previous consolidation phase in 2024, which culminated in a peak during the yen-carry-trade unwind in August.
Following this, Bitcoin experienced a sharp price jump in September 2024, validating the bullish signal provided by the MVRV ratio. As Bitcoin’s price approaches this key level once again, there is potential for similar price action.
Bitcoin’s overall macro momentum is also supported by strong demand from investors. According to the IOMAP (In/Out of the Money Around Price) data, approximately 649,600 BTC, valued at over $61.6 billion, were purchased between $95,193 and $97,437. This large accumulation by investors establishes a solid support level for Bitcoin, should BTC holders refrain from selling immediately to break even. BTC could rise further if greed drives these investors to hold instead of selling immediately.
Combined with the early signs of a bull market with demand for gains, Bitcoin could reach the $98,000 resistance, validating the profitability of the $61.6 billion worth of BTC bought at these levels and securing the range as support. The increasing number of buyers in this range creates a strong foundation for Bitcoin’s price to surge further.
Bitcoin’s price has shown a short-term uptrend over the past three weeks, currently trading at $94,748. Although Bitcoin has been consolidating below the $95,761 level for the past week, it is poised for a possible surge. The positive momentum indicates that Bitcoin may break through the current resistance and continue its upward trajectory.
If Bitcoin manages to secure $95,761 as support, it could begin its climb toward $98,000. Breaking this resistance would open the path for Bitcoin to target the next key level of $100,000, which remains a major psychological barrier for investors. With strong support levels and positive market sentiment, Bitcoin could reach these milestones sooner than expected.
However, if Bitcoin fails to breach $95,761 and falls through the support at $93,625, it could face a decline to $91,521. This drop would invalidate the short-term bullish outlook, signaling potential market weakness. A reversal at these levels would require close monitoring of market conditions to determine the next potential price movements.
The post Bitcoin Worth $61 Billion Nears Profitability As Early Bull Signs Appear appeared first on BeInCrypto.