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 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.
Pi Network plunged by double digits over the past week, even as the broader crypto market shows signs of recovery. The altcoin’s market cap dropped to $4.1 billion, as PI continues to see intense selling pressure.
With bearish pressure intensifying, the token could soon revisit its all-time low near $0.40.
PI Risks Deeper Drop
Despite some strength across the broader market, investor sentiment toward PI remains weak, with technical indicators suggesting that its price decline could continue.
The Relative Strength Index (RSI), a key momentum indicator that tracks an asset’s overbought and oversold market conditions, continues to drop, indicating falling demand and growing selling pressure.
At press time, PI’s RSI is in a downtrend at 39.78. This RSI reading indicates weakening momentum and positions the token just above oversold territory, suggesting continued selling pressure could trigger further losses.
Furthermore, Pi Network’s on-balance volume (OBV) has also decreased, pointing to declining accumulation and reduced buyer interest. This indicator is at -1.26 billion at press time, falling by 15% in the past week.
The OBV measures buying and selling pressure by tracking volume flow relative to price movements. When OBV falls like this, more volume is tied to selling than buying. This indicates weakening investor confidence and potential for further price declines.
PI Token Risks Retesting All-Time Low
PI’s plummeting Chaikin Money Flow (CMF) supports the bearish outlook above. At press time, this indicator, which tracks how money flows into and out of an asset, is below the zero line at -0.15.
This negative reading reflects the strength of the sell-side pressure in the PI spot markets. If this trend persists, PI could revisit its all-time low of $0.40.
Hedera’s Long/Short ratio has soared to a 30-day high, signaling a bullish shift in market sentiment.
This comes amid severe market volatility and huge long liquidations across many assets. With growing bullish sentiment, HBAR could reverse its downward trend and record gains in the near term.
HBAR Shows Bullish Signs as Long Positions Surge
Despite a broader market downturn that has weighed on altcoin prices, HBAR is bucking the trend in terms of investor positioning.
Coinglass data shows that many traders are entering long positions on the token, indicating growing confidence in a potential upside move. This is reflected by its Long/Short, which currently sits at a 30-day high of 1.06 at press time.
The long/short ratio measures the proportion of long positions (bets on price increases) to short positions (bets on price declines) in the market. A ratio below one means there are more short positions than long positions.
Conversely, as with HBAR, when an asset’s long/short ratio is above one, more traders are holding long positions than short positions, indicating a bullish market sentiment.
Further, HBAR’s open interest has climbed, supporting this bullish outlook. As of this writing, it is at $142 million, rising 3% in the past 24 hours. Notably, during this period, HBAR’s price is down 2%.
When an asset’s price falls, but open interest rises, it suggests that traders are still actively entering new positions, potentially anticipating a future price rebound despite the current decline.
A combined reading of HBAR’s long/short ratio and rising open interest amid falling prices signals that the majority of its traders have a bullish outlook. This indicates that even with price declines, HBAR traders anticipate an upward trend in the near future.
Profit-Taking Threatens HBAR’s Rally
At press time, HBAR exchanges hands at $0.15. The gradual resurgence in bullish sentiment and new demand could reverse its current downtrend and push HBAR toward $0.17.
For years, crypto in Africa was synonymous with Bitcoin (BTC). Today, that narrative has flipped, with companies like Yellow Card, a crypto exchange operating in Africa, clearly reflecting this shift.
In an exclusive with BeInCrypto, Yellow Card co-founder and CEO Chris Maurice reveals how it is building a pan-African stablecoin network to leapfrog traditional finance (TradFi). This is amid growing regulatory clarity, collapsing fiat systems, and a remittance revolution.
Stablecoins Are Transforming Africa’s Financial Scene
The pan-African exchange operates in over 20 markets, and Maurice says stablecoins now account for over 99% of its transactions. This makes Yellow Card a bellwether for what might be the most transformative trend in emerging markets finance.
“When we first launched Yellow Card in 2019, people were exclusively buying Bitcoin. Now, the most popular asset is Tether (USDT),” Maurice told BeInCrypto.
As it happened, necessity, not speculation, has driven this evolution. Africa leads the world in peer-to-peer (P2P) crypto trading volume. However, unlike global crypto hubs chasing volatile returns, Africans are choosing stablecoins out of financial survival.
Local currencies are eroding under inflationary pressure in countries like Nigeria, which ranks second globally in crypto adoption (per Chainalysis). Stablecoins offer a reliable store of value and seamless means of cross-border payments.
This is especially critical in a continent with $48 billion annual remittances and persistent banking limitations.
“Stablecoins are solving practical financial services challenges in Africa. People aren’t in love with the tech. They need faster, cheaper ways to move money to survive and thrive,” Maurice added.
Infrastructure Built for the Unbanked
Yellow Card has gone beyond trading services. Its infrastructure integrates mobile money systems (like M-Pesa in Kenya) and local fiat currencies such as the Nigerian naira and Ghanaian cedi. According to the firm’s CEO, this helps onboard users without bank accounts.
By managing compliance, currency exchange, and payments internally, the firm enables businesses to operate without battling unreliable local rails.
“Our mission is to let companies invest, hire, and grow in emerging markets without needing to stress over infrastructure. We’ve built the back office [meaning] cybersecurity, AML, [and] data protection, so they can focus on growth,” he articulated.
The Regulatory Dam Has Broken
Maurice also observed that African regulators kept crypto in limbo for years. In Yellow Card’s view, 2024 marked a tipping point.
“There is regulatory momentum in Africa that is only accelerating. The dam has broken,” he said.
South Africa now classifies crypto as a financial product. It has licensed major exchanges like Luno and VALR. Countries in the Central African Economic and Monetary Community (CEMAC), Mauritius, Botswana, and Namibia have followed suit with licensing regimes.
Meanwhile, regulatory incubators are emerging in Kenya, Nigeria, Rwanda, and Tanzania. Against this backdrop, Maurice says Yellow Card has actively helped draft legislation in Kenya and supports crypto frameworks in Morocco.
Fighting the Informal Market
Still, challenges remain. In countries like Ethiopia, Cameroon, and Morocco, outright bans have driven users underground into high-risk P2P networks. Yellow Card pushes for frameworks that level the playing field for compliant players.
“We face a lot of competition from companies that don’t maintain high AML standards…A level playing field is all we seek,” he said.
With $85 million in venture funding, Yellow Card is deploying capital into compliance and partnerships. With this, the company positions itself as the go-to infrastructure provider for global firms looking to tap African markets.
From Africa to Emerging Markets Everywhere
Cross-border payments are perhaps Yellow Card’s most powerful use case. The company’s co-founder says its stablecoin-powered rails are helping businesses reduce working capital needs, expand to new regions, and hire faster.
“We’ve had clients tell us we’ve enabled them to scale into new countries and reduce their costs dramatically. That’s real economic impact,” said Maurice.
The company is not stopping at Africa. Its infrastructure extends into other frontier markets, with a wave of strategic partnerships expected in 2025.
“Yellow Card has built a series of easy buttons for developed world companies to expand into complicated, high-growth markets,” he noted.
“Stablecoins are already a standard part of the financial infrastructure in Africa. CFOs and treasurers in traditional industries are now routinely using them to store and transfer value,” he added.
Africa’s crypto market is still small compared to global giants. Nevertheless, as the world shifts from speculation to utility, the continent’s fragmented financial systems may offer a glimpse into crypto’s most impactful use case: economic empowerment. For Yellow Card, the mission is clear and increasingly urgent.
“We’ve built a company for longevity and scale. Crypto adoption in Africa is stablecoin adoption,” Maurice concluded.
