Dig Deeper, Invest Smarter
The crypto market has witnessed a notable decline today, with major crypto assets like Bitcoin, Ethereum, XRP, and Solana shedding their gains from earlier in the week. This market crash comes amid concerns that old BTC whales may be offloading their coins, having moved over $8 billion today. Why The Crypto Market Is Down Today
The post Crypto Market Crash: Why BTC, ETH, XRP, SOL Are Down Today appeared first on CoinGape.
XRP has seen a price rebound recently, which is in line with a shift in investor behavior. The altcoin is benefiting from holders opting to HODL, providing support for a potential recovery in the coming days.
This shift in sentiment is key to reversing the losses seen in June and pushing XRP back above key barriers.
Addresses holding XRP for over 6 to 12 months have experienced a noticeable rise in concentration this month, up by 12.8% to 19.1%. This surge in mid-term holders indicates a strong level of conviction in the asset’s future.
The increase in long-term holders reflects the growing belief that the price will recover despite recent volatility.
Moreover, holders who have owned XRP for 3 to 6 months have shifted their behavior toward HODLing rather than selling. This maturity in investor sentiment suggests confidence that XRP’s price will rebound.
The rise in mid-term holders plays a crucial role in stabilizing the asset and supporting its price recovery.
Looking at the macro momentum, the Mean Coin Age (MCA) has shown a consistent uptick throughout this month.
The MCA reflects the behavior of long-term holders (LTHs), and its rise indicates that LTHs are choosing to accumulate XRP instead of selling. This is a positive sign, as LTHs hold significant influence over the asset’s price.
The increasing accumulation of LTHs further supports the bullish outlook for XRP. Since LTHs have the most substantial holdings, their decision to hold rather than sell ensures stability and helps support a recovery in the price.
This accumulation behavior is likely to help XRP regain its footing and potentially reach higher price levels.
XRP is currently trading at $2.19, just below the crucial resistance of $2.23. Breaching this resistance level is vital for the altcoin to continue recovering from the losses seen in June.
If XRP manages to break through $2.23 and flip it into support, the next target would be $2.27.
If XRP price can sustain its momentum and hold above $2.23, it could continue rising and reach $2.32, fully recovering from June’s losses. This would mark a significant turning point in the recovery phase and set the stage for further upward movement.
However, if XRP fails to breach $2.23, it could remain consolidated between the $2.23 resistance and $2.13 support levels.
A drop below $2.13 would invalidate the bullish thesis, sending XRP back to $2.08, which would signal a reversal and further price decline.
The post Why Maturing Investors Might Provide a Lifeline for XRP Price in July appeared first on BeInCrypto.
On Saturday, the PI Network token closed above the upper boundary of its horizontal channel, signaling a potential bullish breakout.
Over the past 24 hours, improving market sentiment has fueled the altcoin’s rally. It has climbed 2% and looks poised to extend its gains further.
Readings from the PI/USD one-day chart show that yesterday, PI’s price broke above the upper line of the horizontal channel. This channel had prevented any significant upward movement between August 2 and August 8.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
This breakout propelled PI to 16% gains during yesterday’s trading session. When an asset breaks above a key resistance line like this, it suggests renewed bullish sentiment and the possibility of a sustained rally.
For PI, this breakout could mark the start of a stronger upward trend as traders gain confidence and momentum builds.
Today, PI has maintained its rally, climbing by 2%. A surge in trading volume accompanies this price increase. Over the past 24 hours, it has jumped nearly 150% to reach $270 million by press time.
Rising price combined with increased trading volume like this confirms the strength of a trend. It indicates that more participants are actively buying, supporting the price movement and reducing the likelihood of a false breakout.
For PI, the volume surge strengthens the positive momentum and suggests that the rally may continue in the near term.
Additionally, PI’s rally over the past two sessions has pushed its price above the 20-day exponential moving average (EMA), confirming growing demand. At press time, this key moving average forms dynamic support under the token’s price at $0.4038.
The 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 its 20-day EMA, short-term bullish momentum is growing as buying interest surges.
This confirms the asset is in an upward trend and may continue to gain strength.
If buying momentum continues, PI could extend its rally and attempt a break above the key resistance level at $0.4451. A successful breakout above this barrier may propel the price toward $0.5281.
Conversely, if traders begin taking profits, PI’s price could retrace to support near $0.3773.
The post PI Network Eyes Major Upswing as New Demand Emerges appeared first on BeInCrypto.
Ahead of the much-anticipated May 10 US China trade war talks, US President Donald Trump seems to have extended an olive branch by proposing to lower tariffs to 80%. However, the president indicated that any move to reduce tariffs will depend on how negotiations go between the US Treasury Secretary and his Chinese counterpart.
In a Truth Social post, the US president stated that an 80% tariff on China seems right. He added that this proposal is up to Scott Bessent, indicating that Saturday’s talks could determine whether they make this move or not.
During a press conference in which he announced the US-UK trade deal, Donald Trump also commented on the negotiations with China, stating that he believes they would have good talks and possibly reach an agreement. He then raised the possibility of lower tariffs on China, remarking that they may lower tariffs if talks go well.
This president looks to have taken a softer stance just two days after he ruled out a tariff concession for China. When asked during a press briefing, he dismissed the possibility of rolling back the 145% tariff on Chinese goods.
Meanwhile, in another Truth Social, Trump demanded a show of good faith from China, requesting that the country open up its market to the USA. He added that this would be “so good” for them, as closed markets no longer work.
The president seems to be eyeing a similar deal to the one they struck with the UK. The UK agreed to open up its markets to US goods as part of the agreement between both countries. Ahead of the May 10 US China trade war talks, China has remained silent and refused to discuss any potential agreement with the US.
However, the Bitcoin price and the broader crypto market are already reacting positively to the Saturday talks. BTC has since surged past the $100,000 mark following news of the May 10 negotiation between both heavyweights.
The post US China Trade War: Donald Trump Makes U-turn, Proposes 80% Tariffs appeared first on CoinGape.