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Ripple has partnered with BNY Mellon, a global financial institution managing over $2 trillion in assets, to serve as the primary custodian for RLUSD reserves. This development follows RLUSD surpassing the $500 million mark in circulating supply, just seven months after its launch. Ripple’s RLUSD Gains Institutional Backing Ripple has announced that BNY Mellon, the
The post Ripple Taps $2 Trillion AUM BNY Mellon for Custody of RLUSD Reserves appeared first on CoinGape.
XRP price has exhibited a breakout above a descending trendline that has been in effect for the long-term indicating the possibility of another bullish run. Experts believe this is capable of thrusting up prices, with estimates pointing up to $5 target. This uptrend has escalated due to the recent ending of the Ripple vs SEC case that has had a massive impact on the XRP price.
After the news of the Ripple lawsuit conclusion, Analyst Dark Defender was quick to comment on how the Ripple token was affected. The crossing above the long-term descending trend is revealing the bulls’ forecasts. A strong green candlestick confirmed the breakout, signaling substantial buying pressure.
With this movement, Fibonacci retracement levels suggest strong support for further gains. Analysts anticipate XRP price will move past $3.40 and $3.78 before reaching the $5 target. The momentum shift follows a prolonged consolidation phase, aligning with the conclusion of the Ripple vs. SEC lawsuit, which has been ongoing for over five years.
Market analysts have outlined an Elliott Wave structure projecting a continued XRP price increase. According to this analysis, the asset is in an impulsive wave pattern, which suggests further gains. The breakout from the trendline supports the projection of a strong bullish phase.
The conclusion of the Ripple vs. SEC lawsuit has eliminated a significant barrier that previously restrained XRP’s potential growth.
While the bullish outlook remains strong, analyst Ali Martinez pointed out concerns regarding the nature of the Ripple token rally. Data from Santiment suggests that large whale investors did not contribute to the price increase. The absence of substantial whale accumulation raises questions about the rally’s sustainability.
Further analysis indicates that open interest in XRP futures increased by $200 million, signaling a surge driven by leverage rather than organic buying. When leverage dominates price movements, the market may experience heightened volatility, leading to potential corrections.
The breakout above key resistance levels has sparked renewed interest in XRP price movements. Analysts remain optimistic about a potential climb toward $5, supported by technical indicators and the resolution of the Ripple vs. SEC lawsuit.
More so, a recent CoinGape report highlighted that the top altcoin might rally to $20 if the US SEC approves the pending 18 XRP ETF applications. This aligns with Amonyx’s prediction that institutional inflows from these ETFs could drive a parabolic surge in XRP’s price.
At the timing of writing this report, the altcoin was trading at $2.51, reflecting a 9% increase in the past 24 hours. Additionally, XRP’s 24-hour trading volume surged by 178.83%, reaching $9.74 billion, indicating heightened market activity.
The post Analyst Reveal XRP Price Path To $5 as Ripple Vs SEC Lawsuit Ends appeared first on CoinGape.
Leading coin Bitcoin briefly soared above the $107,000 mark yesterday. It reached an intraday peak of $107,108, just 2% shy of its all-time high of $109,588, before retracing.
Although the leading cryptocurrency has since retreated slightly to $104,976 at press time, market sentiment remains firmly bullish, with on-chain indicators suggesting continued upward momentum.
According to data from Blockchain Center, the cryptocurrency market remains deep in “Bitcoin Season,” a period when BTC significantly outperforms the broader altcoin market.
As of this writing, only 16 (32%) of the top 50 altcoins have outperformed BTC over the past 90 days, far below the 75% threshold required to qualify as “Altcoin Season.”
Furthermore, Bitcoin’s rising dominance supports this position. Since plunging to a two-month low of 61.89% on May 16, BTC.D, a metric that tracks BTC’s share of total crypto market capitalization, has climbed steadily.
As of this writing, the metric stands at 63.92%.
Interestingly, since May 14, TOTAL2, which measures the combined market cap of all cryptocurrencies excluding BTC, has trended downward. Currently standing at $1.18 trillion, it has plunged $83 billion over the past week.
This divergence suggests market participants are increasingly reallocating capital into BTC over altcoins.
The current trend signals that traders are doubling down on BTC’s resilience, especially as the king coin attempts to stabilize above the key $105,000 price mark.
On the daily chart, BTC’s Directional Movement Index (DMI) confirms the bullish pressure in the market. As of this writing, the coin’s positive directional index (+DI, blue) rests above its negative directional index (-DI, orange).
When an asset’s DMI is set up this way, it indicates that bullish momentum is stronger than bearish momentum. This signals a prevailing uptrend and buying pressure in the BTC market.
If this continues, its price could attempt to breach the resistance at $107,048, and rally toward its all-time high of $109,588.
On the other hand, if sell-offs strengthen, BTC’s price could dip to $102,080.
The post Bitcoin Season in Full Swing as Altcoins Struggle to Keep Up, Analysis Shows appeared first on BeInCrypto.
Smart Money wallets have been aggressively offloading TRUMP, BNKR, and PWEASE in the last seven days, raising red flags for these trending tokens. TRUMP has faced the heaviest pressure, with over $380,000 in net outflows, as its price remains stuck in a sharp downtrend.
BNKR, despite posting strong weekly gains, has also seen large traders liquidating their positions, signaling potential profit-taking. Meanwhile, PWEASE is experiencing similar bearish flows as larger wallets continue to trim exposure despite the recent buzz around the meme coin.
TRUMP has been under significant selling pressure, trading below $18 for the past 30 days, with its price declining by nearly 43% over that period.
This steep correction has coincided with notable smart money activity, as key wallets have been heavily exiting their positions. In the last seven days alone, smart money wallets sold $382,660 worth of TRUMP while only buying $1,240, resulting in a sharp net outflow of $381,420.
This imbalance suggests that larger, more informed investors are losing confidence in TRUMP’s short-term prospects, contributing to the downward momentum.
If this corrective trend persists, TRUMP could fall further and retest its next key support level, $9.54. Failure to hold this level may expose the asset to deeper losses.
However, if TRUMP manages to reverse its current bearish trend and regain bullish momentum, it could attempt to challenge resistance at $12.51.
A successful breakout above this level may open the door for a move towards $13.88. If buying pressure strengthens further, TRUMP could rally back up to $17.75, reclaiming levels closer to where it was trading before the recent downturn.
BNKR has surged by 19% over the past week, positioning itself as one of the top-performing AI coins and one of the most talked-about assets on the Base chain.
This recent rally has drawn significant attention, helping BNKR stand out in a competitive market. However, despite the price increase, smart money wallets have shown mixed behavior—while they purchased $75,700 worth of BNKR in the last seven days, they also offloaded $213,730, resulting in a net outflow of $138,000.
This suggests that although BNKR is trending, larger investors may be capitalizing on the recent rally to secure profits.
If this selling pressure persists, BNKR could lose its recent momentum and slip below key support levels at $0.00019 or even $0.00018, marking its lowest levels since mid-February.
On the other hand, if BNKR manages to reignite the bullish sentiment that fueled last week’s gains, it could retest resistance at $0.000225.
A breakout above this level could pave the way for a further move toward $0.000282, signaling a strong continuation of its upward trend.
PWEASE, a Solana meme coin satirizing US Vice President JD Vance, has been drawing attention amid volatile market conditions.
Over the past seven days, smart money wallets have shown a bearish stance. They purchased $166,720 worth of PWEASE but sold $291,000 in the same period, resulting in a net outflow of $124,320.
This suggests that while the token has gained some traction, larger investors are currently leaning towards reducing their exposure, adding selling pressure to the coin.
If this corrective trend continues, PWEASE could move lower and test the key support at $0.0125. If that level fails to hold, a deeper decline toward $0.0059 may follow.
However, should PWEASE manage to attract renewed buying interest and reverse the downtrend, it could push up to challenge resistance at $0.0295.
A breakout above this level could open the door for further upside toward $0.040, signaling a potential shift back to bullish momentum for the meme coin.
The post Top 3 Crypto Smart Money Wallets Are Selling Fast In March appeared first on BeInCrypto.