Cardano Price Pulls Away From $1 After 9% Drop, Yet Traders Seem Optimistic

The Solana Foundation has launched the Solana Attestation Service (SAS). This is a decentralized identity verification protocol designed to simplify compliance and enhance trust across the network.

Announced on May 23, the tool allows applications to validate off-chain data, such as Know Your Customer (KYC) checks and user accreditation. It does this without directly handling sensitive user information.

Solana Launches Identity Layer Amid Rising Global Crypto Interest

Solana Foundation said SAS introduces cryptographically signed, reusable credentials that trusted parties can issue. Once verified, users can seamlessly interact with multiple platforms without repeating onboarding or verification steps.

“SAS enables compliance, access control, reputation systems, and programmable identity across the Solana ecosystem. It’s a better, easier experience for both end users and builders,” the Solana Foundation stated.

This design removes the need for developers to maintain identity backends, significantly lowering the barrier for integrating compliance features.

According to the Foundation, SAS supports a wide range of use cases. These include DeFi compliance, access control in blockchain games, Sybil resistance in DAOs, and location-based verification for connected devices.

Builders can use the tool to enforce region-based restrictions, establish user uniqueness, and create programmable reputation systems.

SAS marks the first release from the newly established Solana Identity Group, a coalition of contributors including Civic, Solana.ID, Solid, Trusta Labs, and the Foundation itself. The group aims to develop privacy-preserving identity primitives tailored for the Web3 era.

Meanwhile, the launch comes amid rising interest from traditional finance in Solana’s infrastructure. Nzube Ezido, country lead for Solana Superteam NG, described SAS as a critical piece of the network’s evolving financial stack.

“This might be one of the most important primitives launched in a very long time. As we quickly ramp up on the capital market narrative, oracles that keep RWA in sync will need this to offer trust for on-chain to off-chain state,” Ezido stated.

Over the past months, several traditional financial institutions have been exploring the network’s potential for asset tokenization due to its speed, scalability, and low fees.

This is evidenced by the fact that R3—a blockchain infrastructure provider with over $10 billion in assets on its Corda platform—was partnering with Solana. The collaboration aims to onboard clients like HSBC and other major financial institutions to leverage the network’s features.

At the same time, Kraken, a major US-based exchange, announced plans to use Solana’s infrastructure to enable international trading of US-listed stocks.

Market observers said these collaborations reflect Solana’s growing role in bridging real-world finance and blockchain infrastructure.

The post Solana Launches New Tool for DeFi KYC and User Verification appeared first on BeInCrypto.

XRP has been on a steady decline over the past weeks, causing losses for many investors. Despite the falling price, some key holders are actively working to counter the bearish momentum. 

Their efforts could play a significant role in stabilizing and potentially reversing XRP’s downtrend.

XRP Investors Are Optimistic

The Network Value to Transactions (NVT) Ratio for XRP has spiked to its highest level in a month. A rising NVT Ratio typically indicates that the network’s valuation exceeds its transaction activity, often signaling an upcoming price correction. This metric warns that XRP might be overvalued relative to its current use.

However, XRP has shown resilience at times in the past by bouncing back after periods of overvaluation. Investors and holders expect a similar rebound this time, fueled by renewed buying interest.

XRP’s Liveliness indicator has been trending downward, signaling active accumulation by long-term holders (LTHs). A decline in Liveliness suggests that these investors are holding onto their tokens despite price drops, aiming to stabilize the market. This behavior contrasts with an uptick, which would indicate increased selling pressure.

LTH accumulation during a price dip shows confidence in XRP’s long-term prospects. These holders are countering bearish trends by absorbing selling pressure and positioning themselves to profit when the price recovers, providing a critical support layer.

XRP Price Nears Losing Key Support

XRP is currently trading at $2.30, reflecting a two-week downtrend. It is holding just above a key support level at $2.27. Securing this support is vital for the altcoin to prevent further declines and maintain a foothold for potential gains.

If bullish factors continue to strengthen, XRP could bounce off the $2.27 support level. Breaking through the downtrend could enable XRP to flip $2.38 into new support, paving the way for a rise toward $2.56. This recovery would signal renewed investor confidence.

Conversely, if XRP loses support at $2.27, the price may drop further to $2.12. Such a decline would invalidate the bullish outlook and extend the ongoing downtrend, leading to increased losses for investors and sustained bearish pressure.

The post XRP Price Suffers Downtrend as Overvaluation Delays Recovery To $2.50 appeared first on BeInCrypto.

XRP is under pressure, down nearly 6% in the past 24 hours and teetering just above the $2 mark as bearish momentum builds. A $1.02 billion unlock from Ripple’s escrow has sparked fresh concerns about oversupply, with tokens moved to operational wallets possibly poised for distribution.

At the same time, network activity has collapsed 87% since mid-March and technical indicators like DMI and EMA lines suggest growing downside risk. With weakening trend strength and fading demand, XRP may struggle to hold key support levels unless a catalyst revives bullish sentiment.

Ripple Wallet Activity Sparks Fears

Onchain data shows that Ripple has unlocked 500 million XRP—worth around $1.02 billion—from its escrow account.

The tokens were moved from the “Ripple (27)” escrow address to two operational wallets, “Ripple (12)” and “Ripple (13),” potentially positioning them for distribution or sale.

While the escrow account still holds another 500 million XRP, the movement of such a large amount into accessible wallets often raises concerns about increased market supply. If Ripple sells a portion of these tokens, it could create short-term selling pressure on XRP’s price.

From a technical standpoint, XRP’s DMI chart is flashing bearish signals. The ADX, which measures trend strength, has sharply declined to 26.68 from 42.45 just two days ago, suggesting the recent trend is weakening.

Meanwhile, the +DI has dropped to 12.91, down from 22 yesterday—indicating a decline in bullish momentum. At the same time, the -DI has surged to 27.43 from 15.64, pointing to rising bearish pressure.

This shift in directional strength, combined with the large token unlock, suggests XRP may face further downside unless demand quickly absorbs the incoming supply.

XRP Network Activity Collapses 87%

XRP’s network activity surged to record highs in March, with 7-day active addresses reaching an all-time peak of 1.22 million on March 18.

However, that momentum quickly faded, with the number now plummeting to just 158,000—an 87% drop in less than three weeks.

This dramatic reversal suggests that the recent spike in engagement may have been short-lived or event-driven rather than indicative of sustained adoption or growing user demand.

Tracking 7-day active addresses is a key on-chain metric, offering insight into how frequently a token’s network is being used. High activity can signal strong user interest and utility, often aligning with price support or rallies.

On the other hand, sharp declines in active addresses—like what XRP is now experiencing—can signal waning demand, decreasing network usage, and potential selling pressure.

With such a steep drop in activity, XRP’s price may struggle to find an upside unless new catalysts reignite user engagement.

XRP Faces Strong Downtrend, But Eyes Rebound If Key Levels Break

XRP’s EMA structure clearly reflects a strong ongoing downtrend, with short-term moving averages positioned well below the long-term ones and a wide gap between them—signaling persistent bearish momentum.

Unless bulls step in soon, XRP price may be on track to test support around $1.90, a key level that has held in the past.

A break below it could expose the asset to further downside toward $1.77.

However, if XRP manages to reverse the current trend and regain upward momentum, it could climb to challenge resistance at $2.06.

A successful breakout above that level might pave the way for a continued rally toward $2.22.

The post Ripple Unlocks $1 Billion in XRP as Bearish Momentum Builds appeared first on BeInCrypto.