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Senate lawmakers are deep in discussions over the GENIUS Act, a bill that’s currently facing a long list of proposed changes. If they succeed, the bill could be brought to the Senate floor by the end of this week. Senate Negotiates Over 60 Amendments to GENIUS Act According to respected journalist Eleanor Terrett on X,
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XRP’s price has declined significantly over the past week. The token currently trades at a seven-day low of $2.09, and key indicators suggest that the downtrend may continue in the near term.
Market data shows a steady rise in the demand for short positions. This trend reveals growing trader confidence in further downside movement, with short sellers increasing their exposure in anticipation of the XRP token’s continued weakness.
XRP’s long/short ratio reflects the bearish bias dominating its futures market. At press time, the ratio stands at 0.98, indicating more traders are betting against the altcoin.
This ratio compares the number of long and short positions in a market. When an asset’s long/short ratio is above 1, there are more long than short positions, indicating that traders are predominantly betting on a price increase.
Conversely, as seen with XRP, a ratio below one indicates that most traders are positioning for a price drop. This reflects heightened bearish sentiment and growing expectations of continued downside movements.
According to Coinglass, XRP last recorded a long/short ratio above one on April 22. This means it has been over two weeks since bullish positions outnumbered bearish ones in the XRP futures market. The extended period of bearish dominance suggests that market participants have grown increasingly pessimistic about XRP’s short-term prospects.
On the daily chart, the newly formed “death cross” by XRP’s Moving Average Convergence Divergence (MACD) indicator supports this bearish outlook. Readings from the XRP/USD one-day chart have revealed that XRP’s MACD line (blue) closed below its signal line (orange) on Monday, forming a death cross.
This pattern is a notable marker of a sustained downtrend and is widely viewed by traders as a sign of weakening price strength. Hence, XRP risks plummeting further.
XRP currently trades at $2.10, resting above the support formed at $2.03. If selloffs strengthen, the support floor could weaken, making way for a price decline toward $1.61.
On the other hand, if the XRP token altcoin sees a spike in new demand, it could reverse the downtrend and climb to $2.29.
The post XRP Tanks to Weekly Low as Traders Bet on Further Downside appeared first on BeInCrypto.
The crypto ecosystem is in the spotlight as the price of Bitcoin has fueled an unusual bullish shift for assets like Ripple Labs-linked XRP. With the broad-based rebound, XRP surprisingly saw its liquidation imbalance fade over the past 24 hours. Per data from Coinglass, the asset has seen almost balanced liquidations between long and short traders. Where price is heading now remains to be seen.
At the time of writing, XRP has seen a mild liquidation of $5.61 million in 24 hours, per Coinglass data. Surprisingly, futures traders have seen less exposure to XRP as altcoins like Solana (SOL), Dogecoin (DOGE), and Fartcoin surge ahead of XRP per daily liquidations.
The data shows that long traders suffered $2.73 million in liquidations, while short position traders suffered a loss of $2.88 million. Meanwhile, the liquidation trend shows that the imbalance has evened out. Notably, the trend shifted in shorter time spans, as short traders suffered more liquidations than long traders in 12 hours.
As the Coinglass data showcases, the shift in the broader market has pushed as many as 108,567 traders into losses as of this writing. Mostly, the uptick registered as Bitcoin reclaimed a 2-week high has shifted the broader market trajectory, even for XRP.
It is worth noting that the fourth-largest cryptocurrency by market capitalization has rallied by over 3.11% as of writing. The coin now trades for $2.149, the highest level it has traded in about three weeks.
With this latest rally, the coin has pared off its losses over the past week, up 1.37%. Other important metrics are also in the green, signaling a broad-based rally in the market. The trading volume, for instance, has jumped by over 14.56% to $3.07 billion.
Market analysts have predicted a possible rally to $2.7 for the XRP price as Ripple network activity soared 70%. It remains to be seen whether the current momentum can fuel a reboot in the coin’s price.
Historically, the Ripple Labs-linked digital currency has ended the month of April on a positive note. According to Cryptorank data, the average growth rate of XRP in April is 24.6%. Thus far this month, the top coin has only recorded a 3% growth, implying more room for growth.
If the historical trend plays out again, XRP price may end this month on another bullish note. Notably, this will be the coin’s best performance since at least 2022. Amid the growing clamor for an XRP ETF product with the US SEC, the coin has the right fundamentals to grow.
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Solana tokens like HOTMOM, DOOD, and IKUN are gaining serious traction as some of the most active and talked-about new launches on the network. HOTMOM is leading the meme coin charge with a $54 million market cap and strong backing from public figures.
DOOD, the official token of the Doodles NFT collection, has quickly attracted nearly 160,000 holders, riding the wave of NFT projects launching native tokens. Meanwhile, IKUN is drawing massive transaction volume and continued whale accumulation, signaling strong momentum despite shifts in smart money behavior.
HOTMOM has quickly become one of the most talked-about Pump tokens, gaining major traction just three days after launch.
With over 6,500 holders and a market cap of $54 million, it’s showing signs of strong early adoption in the meme coin space. If good momentum continues, HOTMOM could rise to test the $100 million market cap.
The token has surged more than 37% in the last 24 hours, backed by impressive activity—logging over 52,000 daily transactions and $8.7 million in trading volume.
According to Nansen, HOTMOM is held by some well-known figures like threadguy, Crypto Ninja, and gake—a Solana smart trader with an on-chain net worth of $1.73 million.
Doodles, once one of the most hyped NFT collections, just launched its official token a few hours ago—and it’s attracting attention.
The token has attracted nearly 160,000 holders in just three days and reached a market cap of approximately $53 million, showing strong initial demand across the crypto and NFT communities.
The launch follows a growing trend of major NFT projects rolling out their tokens, similar to what Pudgy Penguins did with PENGU a few months ago and Bored Ape did with APE a few years ago.
Between May 9 and May 12, whale holdings of DOOD jumped dramatically from 69,202 to 250 million, signaling significant early accumulation.
In the last 24 hours, the token recorded 5,509 transactions and $734,000 in trading volume.
IKUN has emerged as one of the more active tokens on Solana, with nearly 6,000 holders and a market cap exceeding $12 million.
In the last 24 hours alone, it saw an impressive 112,265 transactions and $37 million in trading volume.
Smart money holdings in IKUN have dipped slightly in recent hours. Public wallets still hold around $320,000 worth of the token. Meanwhile, whales continue to accumulate.
According to Nansen, Unipcs is the largest whale, holding 12.45 million IKUN worth roughly $150,000. Despite shifting dynamics among retail and smart wallets, this ongoing whale activity shows confidence in IKUN’s short-term potential.
The post Top 3 New Solana Tokens to Watch For the Third Week of May 2025 appeared first on BeInCrypto.