XRP has been one of the standout performers in the crypto market over the past month. Its price has soared by 72% amid a broader altcoin rally fueled by Bitcoin’s march to new all-time highs.
However, two critical on-chain indicators now suggest that this uptrend may be losing steam, raising the risk of a near-term reversal.
XRP Traders Brace for Pullback as On-Chain Signals Flash Red
First, XRP’s exchange reserve on leading exchange Binance has spiked sharply, reaching its highest level of the year. According to CryptoQuant, XRP’s exchange reserve—measured using a seven-day moving average—closed at a year-to-date high of 2.98 million tokens on July 22, valued over $10 million at current market prices.
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A spike in an asset’s exchange reserve indicates that more tokens are being moved onto centralized exchanges, often in preparation for selling. When investors transfer large amounts of a coin to exchanges, they may be positioning to take profits or exit positions.
In XRP’s case, the surge to a 2.98 million token reserve implies heightened selling intent. If this influx of supply is not met with equal or greater demand from buyers, downward pressure on XRP’s price could quickly build.
Furthermore, CryptoQuant’s data shows that XRP’s taker buy/sell ratio has consistently remained below one since July 10. As of this writing, the metric stands at 0.94
An asset’s taker buy-sell ratio measures the ratio between the buy and sell volumes in its futures market. Values above one indicate more buy than sell volume, while values below one suggest that more futures traders are selling their holdings.
The fluctuation in XRP’s taker buy/sell ratio below one over the past two weeks points to a sell-off trend among futures traders as its price climbs. This mounting sell-side pressure confirms weakening sentiment and could trigger price declines over the next few sessions if it continues.
XRP Bulls Face Key Test at $3.22
At press time, XRP trades at $3.47, just below its all-time high of $3.66. However, mounting sell-side pressure increases the probability of a near-term correction toward the $3.22 support level.
Should this floor give way, XRP could extend its decline to around $2.87.
However, if selling pressure eases and fresh demand enters the market, the altcoin may reclaim its price peak and potentially chart new gains beyond $3.66.
Bitcoin (BTC) is up nearly 12% over the past seven days, gaining momentum as it reclaims key technical levels and approaches major resistance zones. The recent price surge has been supported by a slight recovery in the number of Bitcoin whale addresses, hinting at renewed accumulation from large holders.
Technical indicators like the Ichimoku Cloud and EMA lines point to a strong uptrend, with bullish formations suggesting continued buyer control. As BTC flirts with the $100,000 mark again, whale activity and chart signals will determine whether this rally has more room to run.
Subtle Accumulation: What the Rise in BTC Whales Could Mean
The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—has been trying to recover over the past few days, showing subtle but notable movement.
There are 2,006 BTC whale addresses, slightly higher than the 2,000 recorded on April 21. The count briefly rose to 2,005 on April 22 before dipping to 2,002 the next day, and now it’s back above that level.
While these daily fluctuations may seem minor, they often reflect deeper shifts in sentiment and positioning among some of the largest players in the crypto market. The recent stabilization suggests that accumulation might be picking up again after a period of distribution or hesitation.
Tracking whale activity is important because these entities tend to have an outsized influence on market trends. Whether institutional investors, long-term holders, or high-net-worth individuals, whales often act with a level of strategic insight and patience that retail investors can’t always match.
Their behavior can signal confidence or caution in the broader market. The number of whale addresses showing a slight upward trend could indicate renewed interest in accumulating Bitcoin at current levels.
This might not immediately translate to a sharp price move. Still, it does add a layer of underlying support to the market, potentially reducing downside risk and paving the way for more sustained bullish momentum if broader conditions align.
The price trades above the blue conversion line (Tenkan-sen) and the red baseline (Kijun-sen), indicating short-term strength and trend alignment.
These lines have acted as dynamic support levels throughout the recent move, with price bouncing off them multiple times in recent candles. This suggests that buyers remain in control, and any dips have been met with demand.
The green cloud (Kumo) ahead is thick and rising, signaling a strong support zone and a positive trend outlook.
The distance between the red and green boundaries of the cloud also suggests expanding volatility, which tends to support stronger directional moves.
Because the price is well above the cloud and all key Ichimoku components are aligned in bullish formation, the current setup supports the idea of an ongoing uptrend—at least in the short to mid-term—unless price sharply reverses and closes below the blue and red lines.
Will Bitcoin Break Above $100,000 Before May?
Bitcoin recently broke above the $90,000 mark for the first time since early March.
Its EMA lines support the bullish narrative, with all short-term moving averages positioned above the long-term ones and spaced widely apart—often a hallmark of a strong uptrend.
Bitcoin price could challenge key resistance levels at $96,484 and $99,472 if this momentum continues. A break above those could open the door for a push past the psychological $100,000 mark, with the next major target near $102,694—the highest level since early February.
However, there’s still room for caution. It may lose its short-term footing if Bitcoin retests and fails to hold the support level at $92,920.
In that case, price could slide toward $88,839, and if a downtrend takes shape, further losses down to $86,533 become more likely.
Several interesting developments happened this week in crypto, cutting across diverse ecosystems. Key highlights, however, centered on Bitcoin (BTC) and XRP ecosystems.
In case you missed it, here is a roundup of the top stories this week in crypto.
Bitcoin Tests $97,000
Starting the list of what happened this week in crypto, Bitcoin tested the $97,000 milestone for the first time since February 2025. However, as of this writing, the pioneer crypto pulled back shortly after and was trading for $96,731.
Another key highlight this week in crypto concerned speculation of a possible collaboration between the Sui blockchain and Pokémon. Amidst these talks, the SUI price soared over 60% within the week.
These rumors sparked after a privacy policy update for Pokémon HOME featured Parasol Technologies, LLC, as a new developer. Parasol Technologies is a Web3 gaming infrastructure company that Sui’s developer, Mysten Labs, acquired in March 2025.
Nevertheless, changes in one of the circulating documents quelled the speculation, clarifying what had been a key driver for the SUI price this week.
“The official Sui Foundation blog confirmed (and removed) Pokémon NFTs. They seem to be developing a cloud infrastructure that uses blockchain technology to address bugs, hacks, and duping while enabling transfers between compatible games—something that is already possible with Pokémon Home,” another user highlighted.
Nevertheless, the correction did not quell speculation that Parasol may be involved in developing new features for Pokémon.
The SUI price has fallen almost 3% in the last 24 hours. As of this writing, it was trading for $3.47.
ProShares XRP ETF Rumors
Adding to the list of speculation this week in crypto, rumors spread that the US SEC (Securities and Exchange Commission) had approved a ProShares XRP ETF (exchange-traded fund).
However, BeInCrypto shut down these claims, articulating that the approval was for ProShares’ Leveraged and Short XRP Futures ETFs. ETF analyst James Seyffart also provided further clarity, deeming the allegations false.
“UPDATE: A lot of people posting/reporting that ProShares will be launching XRP ETFs on April 30th. We have confirmed that this is not the case. We do not have a confirmed launch date yet but we believe they will launch — and likely launch in the short or possibly medium term,” Seyffart explained.
ProShares launched three futures-based ETFs: the Ultra XRP ETF, the Short XRP ETF, and the Ultra Short XRP ETF. This development followed the launch of Teucrium’s 2x Long Daily XRP ETF in early April.
ProShares’ XRP Futures ETF Sparked Optimism
Meanwhile, the approval of ProShares XRP futures ETF sparked optimism, inspiring sentiment that a spot XRP ETF would be next.
According to forecasts by industry expert Armando Pantoja, the move could lead to substantial capital inflow into the altcoin.
“A spot XRP ETF could be next, unlocking real demand and sending prices soaring. $100 billion+ could soon flood into XRP,” he wrote.
Pantoja recognized that the approval marked a significant turning point for the industry, expanding XRP’s investor base.
The approval cleared the runway for the XRP ETF, granting Ripple’s token a regulated and accessible avenue for major financial players to engage.
“Futures ETF = first domino. Spot ETF = the tipping point. XRP’s long-term setup just got way stronger,” Pantoja remarked.
Another analyst was more measured amid heightened optimism, noting that the futures ETF was not the game-changer many might expect.
“It’s not the silver bullet that will trigger mass adoption or massive price action. The real catalyst will come when a Spot XRP ETF gets approved. Real tokens. Real demand. Real market impact,” John Squire posted.
SEC Delays XRP ETF Decision
To add to the list of developments in the XRP ecosystem this week in crypto, the US SEC delayed its decision on a prospective XRP ETF until June 17.
Before this news broke, crypto market participants awaited the final decision of XRP, Dogecoin (DOGE), and Ethereum staking ETFs. However, these were all put off.
“These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the XRP spot ETF, [I am] eyeing mid-October, around the 18th, as a final decision deadline. It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Seyffart explained.
For now, over 70 active ETF proposals await the securities regulator’s verdict. XRP ETF’s June deadline is not final, but the commission could still enact further delays until mid-October.
Meanwhile, data from Polymarket shows that bettors see a 34% chance that the financial instrument will be approved by July 31.
The non-fungible token (NFT) sector experienced explosive growth in 2021. Artists, investors, and collectors were all swept up in the frenzy. Yet, its meteoric rise was followed by a downturn, prompting questions about the sector’s sustainability.
Alexander Salnikov, co-founder of Rarible, believes the market is not facing a collapse but rather a shift. In an exclusive interview with BeInCrypto, Salnikov offered his perspective on the state of NFTs in 2025 and their role moving forward.
Are NFTs Still Relevant in 2025, or Have They Run Their Course?
The rise of NFTs, fueled by excitement and speculation, was inevitable for a market experiencing such rapid innovation. Nonetheless, like many emerging technologies, this early surge was followed by a correction. The hype gave way to the realities of market maturation and sustainability.
According to the latest report by DappRadar, the art NFT market saw an impressive surge in 2021, with trading volumes reaching $2.9 billion. However, by the first quarter of 2025, the trading volume was recorded at just $23.8 million, marking a 93% decline.
NFTs Trading Volume Over the Years. Source: DappRadar
Similarly, the number of active traders peaked at a record high of 529,101 in 2022. Yet, this figure sharply declined by 96%, with just 19,575 active traders remaining by Q1 2025.
A previous industry report from DappRadar revealed that the underwhelming performance wasn’t just a trend in 2025. In fact, 2024 was one of the worst-performing years for the NFT market since 2020. In addition, BeInCrypto also reported on a study that revealed 98% of NFT projects launched in 2024 were essentially “dead.”
Despite the decline, Rarible’s Salnikov has maintained a positive outlook for the sector. He emphasized the importance of a clear purpose when it comes to NFTs.
“Once upon a time, after the .com burst, the headlines rang that the internet was only a fad. But as more companies integrated the technology into everyday use cases, it became ingrained as a part of life,” he told BeInCrypto.
“The speculative phase had its moment, but now we’re watching NFTs evolve into actual infrastructure—tools creators use to build communities, products, and new digital economies,” he said.
NFTs Beyond the Hype: Unlocking Real-World Utility
Salnikov stressed that utility in the NFT space is no longer a distant concept—it is happening right now. Creators are using NFTs for membership, brands for loyalty programs, and games for player identity.
He pointed to a growing convergence between the digital and physical worlds, with NFTs being tied to merchandise, events, and even real-world assets. Binance Research’s April 2025 report further corroborates this trend.
The report spotlighted several real-world partnerships, indicating interest in NFTs. Examples include Azuki’s physical-backed NFT with Michael Lau, The Sandbox’s Jurassic World collaboration, EGGRYPTO’s anime characters with Eparida, and Sony’s Soneium platform partnering with LINE to create Web3 mini-apps.
“The next wave of growth isn’t about chasing a trend—it’s about unlocking new types of ownership and access that feel native to the internet generation,” noted Salnikov.
While this perspective offers optimism, the reality for many companies is quite different. Due to low trading volumes, major platforms like Bybit, X2Y2, and Kraken have resorted to discontinuing their NFT services.
Those that didn’t shut down explored alternative avenues. For instance, Magic Eden expanded beyond NFTs with the acquisition of Slingshot. Nevertheless, Salnikov dismissed this strategy, commenting,
“We’re not trying to bolt on non-NFT features just to stay busy—we’re building NFT commerce that actually fits the communities using it.”
He explained that this approach uses modular, customizable on-chain marketplaces. Creators can tailor them to fit their specific audiences, whether it’s a gaming project, an L3, or a legacy brand.
“NFTs are the feature—they just need the right framing,” the Rarible co-founder stated.
When Fame Fades: The Diminishing Returns of Celebrity-Backed NFTs
In January 2022, Bieber spent 500 ETH (approximately $1.3 million at the time) on Bored Ape #3001. This NFT is from Yuga Labs’ Bored Ape Yacht Club (BAYC) collection.
However, according to the latest data, the NFT is worth only 13.51 WETH (around $24,174), a decline of 98.1%. Although the singer hasn’t sold his NFT, it has received little attention lately, with no promotional efforts or notable discussions around it.
Thus, while celebrities can bring attention to NFTs, this highlights the need for substance beyond the name itself. As Salnikov pointed out, celebrity involvement in the sector is fleeting.
According to him, a celebrity name alone can’t replace genuine creative direction or a strong community.
“Celebrity drops will come and go—it’s the culture behind them that determines if they stick,” he remarked.
He argued that celebrities treating NFTs as mere merchandise deters audiences. Nevertheless, when an NFT drop is intentional and truly taps into something meaningful like music, fashion, or fandom, that’s where the lasting value is found.
“We’re way more interested in working with creators who are building for the long haul than just chasing headlines,” Salnikov disclosed to BeInCrypto.
The executive also outlined the need for a more accessible and user-friendly approach for attracting interested users. He detailed that onboarding users should not feel “like a tech demo.” Salnikov pointed to Rarible as an example.
According to him, Rarible focuses on ensuring that each marketplace built on its platform is a product people genuinely want to use. This involves features such as fiat onramps, low-cost mints, a clean user interface, and, most importantly, content that resonates with users.
“We’re not selling NFTs—we’re powering experiences that just happen to be onchain,” Salnikov concluded.
While the NFT market faces ongoing challenges, it remains to be seen whether the industry is entering a new phase of growth or if further obstacles lie ahead in its evolution.
