Heavy liquidations of short traders have triggered a short squeeze in the wider crypto market today.
Rising OI amid heightened speculative trading will lead to further formed liquidations.
The crypto market recorded more than $601 million in forced liquidations in the past 24 hours. According to the latest market data as of this writing, more than 138k crypto traders were rekt today, mostly involving short traders.
Furthermore, more than $500 million involved short traders, with the largest single liquidation happening on the Binance exchange involving $4.3 million of ETH/USDT pair.
The crypto liquidations may likely reach and surpass $1 billion later on Wednesday as the Asian markets gradually open. Moreover, crazy crypto speculation has gradually returned following the recent gold price parabolic rally toward a new all-time high.
Impact of the Heavy Crypto Liquidations
The heavy forced liquidations of short traders have catalyzed further bullish sentiment amid renewed interest from whale investors. As more short traders turn bullish to capitalize on the rising trend, the impact of the short squeeze remains palpable in the coming days.
Moreover, Bitcoin price has already broken out of a multi-week falling logarithmic trend and is ready to rally toward a new all-time high. Additionally, the wider altcoin market has gradually followed Ethereum’s price in a bullish outlook.
With the crypto-leveraged trading market having cooled down, following the improved regulatory outlook in the United States and anticipated diplomatic solutions to the ongoing global trade war, the bullish sentiment will likely continue to reign.
Solana price has recently shown strong signs of recovery, leading analysts to predict a bullish breakout that could see the SOL price surpass $200.
Analysts anticipate that the current trend is a precursor of a significant bullish breakout as Trump tariffs fears end and the Bitcoin price recovers above the $94k resistance.
Is Solana Price Ready for a Bullish Breakout?
Solana price has been trading in a contained range-bound channel for several months, as depicted between October 2024 to April 2025. During this time, the cryptocurrency set the important support level at $147.48 and the price has been rebounding off this level of support.
According to Crypto General analyst, the price movement has formed an ascending triangle pattern. This pattern usually points to the bulls’ market continuation and can extend their move towards the upper resistance level, which is $288.51.
The ascending triangle implies that the price of Solana is steadily rising as the demand for the token also rises, with the formation of higher lows. This pattern is commonly regarded as an accumulation formation when buyers continuously drive the price up in anticipation of a breakout. A breakout above the $288.51 may open the door for more gains, taking SOL to $350 to $390 in the next few months.
Institutional Adoption Could Propel Prices Higher
Another reason that could further push Solana’s price up is the demand from institutional investors, such as SOL ETFs that have applied to the SEC and are waiting to be approved. Amid the swearing-in of a new SEC chair, the market anticipates an end to the uncertainties in regulations that may lead to the influx of institutional funds into Solana and other coins.
On a similar note, the high number of deployments on the Solana blockchain suggests that adoption and usage are also on the rise. As more developers build on the platform, the case for further growth in SOL’s value strengthens.
Several analysts, like Peter Brandt, have also stated that Solana could surpass Ethereum in the long term, which bolsters its long-term projections. Should institutional adoption increase, it could provide more upward pressure on Solana’s price and possibly even push it past $200.
Technical Indicators Suggest Bullish Outlook
To further support the bullish pressure, technical analysis of the SOLUSD price chart points to a significant bull run. From the 1-day price chart, the Bollinger Bands are expanding, which suggests the growing fluctuations in the SOL price. A
mid this trend, the price of SOL has crossed the upper Bollinger Band which is a sign of high volatility and uptrend action. If the price is above the middle band (blue line), it signals that this pattern may remain in control, which is a bullish signal.
SOLUSD 1-day price chart (Source: TradingView)
In addition, Solana’s chart shows a falling wedge formation. This pattern, a bullish reversal formed by converging trend lines with lower highs and higher lows, hints at a major move incoming.
Solana’s recent breakout above the upper trendline of this wedge could be the beginning of a significant upward move. After this breakout, analysts target $275 as a potential price zone, reflecting a substantial upside from the current price.
XRP price predictions are pointing towards a $5 target, with analysts forecasting significant gains ahead. As XRP continues to show strong potential, a new challenger, Remittix, is emerging as an “XRP 2.0” rival. With a predicted 12,000% surge, Remittix’s innovative cross-border payment solution could disrupt the market.
Want to know if XRP could reach $5 and why Remittix might outpace it? Read on to discover why Remittix is the next big thing in crypto.
Can XRP reach $5? Price prediction and future outlook
One of the best-performing cryptocurrencies since the bull resurgence is XRP; many experts believe its price might surge above $5. The latest market movement and strong positive signals indicate a possible advance, particularly following a breakout above important resistance levels.
After its lowest moments, XRP’s price has been gradually rising, with some projections indicating that, given the correct momentum, the coin might even reach a new all-time high.
The rising user base and institutional support the cryptocurrency receives strengthen its future. Another advantage that might provide XRP with long-term stability is concluding its legal battle with the SEC.
Although this is contingent on various elements, including market sentiment, regulatory clarity, and rising acceptance of XRP in real-world use cases, the present trend demonstrates growing confidence from investors, making the $5 aim realistic.
The big question is, when is this $5 achievable?
Remittix as XRP 2.0: The rival with a possible 12,000% increase
Although XRP is still strong, a fresh rival, Remittix, is already being referred to as “XRP 2.0” because of their similarities in key product features. With its creative PayFi system, Remittix seeks to change cross-border transactions. Customers can send money from their crypto wallets to bank accounts without any knowledge of cryptocurrencies.
The Remittix token RTX is attracting interest because of its potential. Based on its presale performance, with more than 75% of the total token supply sold, analysts estimate RTX might witness a huge 12,000% increase in the next years.
Remittix has generated almost $15 million in presale and might see its value increase as more people and companies choose crypto-to-fiat solutions. Some analysts even think it may eventually outperform XRP.
Designed for simple crypto-to-fiat transactions, the Remittix platform might become the preferred method for cross-border payments. Its meteoric surge will help establish Remittix as a fierce rival of XRP in the crypto market.
Though their methods differ, XRP and Remittix both operate in the business of enabling quick and cheap cross-border payments. With a sizable market capitalization and past usage in financial institutions, XRP is already well-known. The major benefits of XRP are high liquidity, a great network, and general acceptance.
Though being in its early years, Remittix offers something fresh and interesting. The Remittix PayFi technology is special since it lets anyone use crypto for international transactions regardless of their level of expertise in cryptocurrencies. This ease of usage could make Remittix particularly attractive to a broader audience, especially those unfamiliar with crypto.
While XRP has experienced a consistent increase, Remittix is positioned for explosive development. Though Remittix’s creative strategy may help it to eventually grab a bigger market share, XRP’s maturity compared with Remittix’s potential for a huge spike indicates both projects could flourish.
Finally, supported by rising institutional interest and increased adoption, analysts estimate that XRP and Remittix have a bright future and might rise above $5. However, Remittix is an emerging competitor that might just outshine XRP in the coming years. With its innovative cross-border payment system and the explosive growth potential of RTX, Remittix could be the new force in the crypto market.
Early involvement with Remittix, particularly during its presale phase, should be taken into consideration by investors since it’s providing returns beyond XRP’s present potential. Available for $0.0757, don’t miss the opportunity to participate in the next major cryptocurrency event, Remittix.
Discover the future of PayFi with Remittix by checking out their presale here:
The post XRP Price Prediction Points Towards $5 And 12,000% Surge For New “XRP 2.0” Rival appeared first on Coinpedia Fintech News
XRP price predictions are pointing towards a $5 target, with analysts forecasting significant gains ahead. As XRP continues to show strong potential, a new challenger, Remittix, is emerging as an “XRP 2.0” rival. With a predicted 12,000% surge, Remittix’s innovative cross-border payment solution could disrupt the market. Want to know if XRP could reach $5 …
Coinbase is again in the news following a recent announcement that the top crypto exchange will be joining the S&P 500. This development marks a huge milestone for the exchange, as it will become the first crypto company to achieve this feat. Meanwhile, the COIN stock price has jumped on the back of this development.
Coinbase To Replace Discover Financial In S&P 500
In a press release, the S&P Dow Jones Indices announced that Coinbase Global will replace Discover Financial in the S&P 500, effective before the opening of trading on Monday, May 19. The exchange is replacing Discover as Capital One Financial is acquiring the financial institution. The crypto exchange will trade under the ticker ‘COIN,’ in a move that will provide further exposure for the company and attract more investors.
Nasdaq data shows Coinbase’s stock surged 8% following the S&P 500 announcement. The COIN stock price is currently trading at around $224, up over 17% in the last month. However, the stock is still down over 16% year-to-date.
This announcement comes just days after the crypto exchange announced an agreement to acquire crypto options firm Deribit for $2.9 billion, making it the largest merger and acquisition in crypto history. Following the announcement, Bitwise CIO Matt Hougan predicted that the exchange could one day become a trillion-dollar company.
Strategy founder and Bitcoin maximalist Michael Saylor congratulated Coinbase and its CEO Brian Armstrong, stating that it is a major milestone for the exchange and Bitcoin.
The top crypto exchange has released a statement on its X account following the announcement. The X post read,
Thank you to everyone who made it possible for a crypto company to join the S&P 500 for the first time in history.
Exchanges’ Execs React To The Announcement
In an X post, Brian Armstrong commented on the feat, remarking that his exchange just became the first and only crypto company to join the S&P 500. He added that this milestone represents what the true believers, both retail and institutional investors, and employees and partners knew all along, that crypto is here to stay.
Emilie Choi, the COO of the top crypto exchange, also stated that this development is a “big deal.” She remarked that the S&P 500 is arguably the most tracked and influential index in the world and a magnet for institutional capital. Choi added that it is a great day for Coinbase, its customers, employees, and retail and institutional investors.
Remittix 
