XRP could drop to $0.43 in the coming days following Ripple's token unlocking worth $559 million.
Ripple released 1 billion XRP tokens worth $559.9 million, continuing its unlocking process since 2017.
In the month of August, XRP experienced extreme volatility, with the altcoin falling to a local low of $0.43. However, XRP soon recovered to reach a local high of $0.64. Unfortunately, this was not to last, as the cryptocurrency lost its gains once again.
According to a popular whale transaction tracker on X, Ripple achieved three consecutive unlocks totaling 1 billion XRP tokens. According to market cap, these tokens were worth $559.9 million on price charts.
The latest unlock was done in a batch of three different transactions, with one worth 500k XRP and the other two worth 300k and 200k.
Since January 2024, Ripple has released over 2.02 billion XRP tokens from its treasury worth $1.15 billion.
The price of XRP also fell during the August unlocks, with the altcoin falling to $0.56 from $0.65.
For starters, the altcoin’s Chaikin Money Flow (CMF) had a reading of -0.02.
This seemed to suggest that XRP might be experiencing some selling pressure – a bearish market sentiment, as holders might be closing out their positions.
Based on past performances and in light of the prevailing bearish sentiment in the market, the altcoin is at risk of falling to the local support level of $0.43. $XRP
Are Cryptocurrencies to Blame for Telegram CEO Pavel Durov’s Arrest?
In the wake of Telegram CEO Pavel Durov’s bombshell arrest in France last weekend and subsequent criminal indictment, there’s still a lot that’s uncertain — most notably, how the high-stakes drama will impact Telegram’s massive crypto ambitions.
This year, Telegram became perhaps the most high-profile company to ever jump with both feet into the cryptosphere. The dominant messaging service fostered the proliferation of an ecosystem of on-chain and in-app gaming and services powered by Telegram’s blockchain of choice, The Open Network (TON). These so-called “mini apps” exploded in popularity this spring, thanks in large part to their ability to earn users crypto rewards through token airdrops.
The company’s new path seemed so limitless that some TON developers prophesied that the app could soon leverage its on-chain mini app model to become the Western version of China’s “everything app,” WeChat.
LINK has emerged from a recent decline and everything indicates that the price of this Cryptocurrency is ready to experience a rise to more than $19.
The price of the token could see sustained growth following an increase in active and new addresses on the network.
The rise implies that a new set of market participants are adopting LINK and adding the token to their portfolio.
It also means that users continually interact with the Chainlink network. Furthermore, as this continues or improves, LINK's potential to trade higher will increase.
From a technical point of view, LINK price was able to jump after it broke a falling wedge. In non-technical terms, a falling wedge is a pattern formed by two descending trend lines.
In the chart below, LINK has been able to break the resistance at $14.15. After a slight pullback, there has been a strong buy signal. $LINK
Fantom price could quickly recover from its recent drop and reach over $1 within a few days.
The token is trading above the 23.6% Fibonacci level, suggesting a rally if it remains above the bear market support floor starting Wednesday, July 24.
The price of FTM at press time is $0.489. However, the Bulls And Bears indicator shows that the value may not continue trading in this region and we are at the point of taking off to make big profits from this token. $FTM
Worldcoin (WLD) price is up almost 30% in the last week, but technical indicators show a possible decline.
Even though Worldcoin's price has risen in the last week, its Chaikin Money Flow (CMF) remains below zero. The indicator measures the flow of money into and out of an asset.
When the price of an asset rises while its CMF is below zero, it suggests a net outflow of money from the asset. This indicates weak buying pressure despite the price increase.
This divergence between the asset's price and its CMF is a bearish signal, suggesting that the price rally may not be supported by strong buying interest and could reverse or face a correction.
There is an English team that continues to accumulate Bitcoin.
And now football teams are hoarding Bitcoin too. It is not just any football team, because it is that Real Bedford team that has been sailing the sea for some time. And it's the same team that sees popular bitcoiner Peter McCormack at his peak and that recently received investments from the Winklevoss brothers for $4.5 million.
According to what was announced by the president himself, the 4.5 million mentioned above were used to buy Bitcoin, at an average price of 67,220 dollars, with the company's coffers now having a total of 82.7 Bitcoin and 15.8 in their place freely to be used for expenses.
BONK has been in the spotlight due to its strong performance despite market fluctuations. With a current price of $0.00003071, BONK's value has increased by 39.74% over the past week, demonstrating increased investor interest. Its market capitalization stands at $2.18 billion, with a 24-hour trading volume of $573.77 million.
BONK's recent price rise during the market correction suggests that it could be a promising investment. As the market stabilizes after a period of volatility, investors are considering BONK to diversify their portfolios. Previously, BONK faced a downtrend with support at $0.00002. However, a proposal to reduce the token supply has boosted investor confidence, increasing the market capitalization by 24.26% to $2.18 billion.
BONK has outperformed other Solana network meme coins such as WIF, BOME, and SLERF. Interest has increased due to several developments, including BONK joining on-chain data provider Xangle.