According to the Crypto Basic Analytics:

Analyst Says Bitcoin $BTC to $250K as Most Powerful BTC Bull Run Phase Begins

As Bitcoin struggles at the $60,000 territory, market analyst Aurelien Ohayon recently asserted that its most powerful bull run has just begun.

Ohayon’s recent calls attention to an interesting pattern in Bitcoin’s long-term price movements. With this, he suggested that the most potent phase of the current bull run is just beginning.

Notably, the accompanying chart traces Bitcoin’s historical tops and bottoms across three previous market cycles. Each cycle features a steep climb to a new all-time high, followed by a significant decline and a period of consolidation before the price surges once again. 

This pattern was evident from Bitcoin’s first major peak on the chart, attained in November 2013 when the price soared to $1,163. After reaching this peak, Bitcoin underwent a steep correction, eventually bottoming out at $152 in January 2015.
From this low, Bitcoin embarked on a remarkable recovery, culminating in a second peak of $19,666 in December 2017.

Notably, during previous cycles, Bitcoin never reached a new all-time high before a halving event. However, the March 2024 all-time high came up a month before the latest halving event in April. Some have attributed this to the advent of institutional investors through the spot Bitcoin ETFs, launched in February.

Despite this impressive gain, Ohayon suggests that Bitcoin has not yet reached its peak for this cycle. The chart indicates that the most powerful phase of the bull run is still ahead, with the potential to drive Bitcoin’s price to an astonishing $250,000. 

The analyst based this projection on the assumption that Bitcoin will follow a similar trajectory to previous cycles, with the final stage of the bull run featuring exponential gains. Market Veteran Brandt had previously asserted that $73K was the top for this cycle. Nonetheless, he recently reviewed his analysis, projecting another pump to $92K.

According to the Blockchain Reporter Analytics:

$FLOKI Down 17% After Dormant Holder Dumps 15B Coins

The prominent meme token $FLOKI ’s price has dipped by 17.7% during the recent twenty-four hours. Spot On Chain, a popular on-chain analytics company, has disclosed that the 17.7% decline of Floki takes place simultaneous to a formerly dormant wallet’s reactivation as it has transferred $2.27M to Binance. The analytics provider took to its official social media account to provide the details of the respective development.

In its new X post, Spot On Chain has revealed that the wallet associated with the Floki Inu project has recently awakened. This occurs following its inactive status for almost 2.5 years. The respective coins accounted for $2.27M in total. Such a big transaction occurred just before a massive price decline. This has raised speculations and concerns about the likely reasons behind the incident.

The 15.22B $F$FLOKI ins originally emerged from the deployer contract of Floki to the respective wallet in 2022. That was the time when $FLO$FLOKI reportedly changing hands at a substantially decreased price of almost $0.0000307. This makes the present transfer even more noteworthy in the case of value and volume. This token shift’s timing has paved the way for broad-level speculation among traders and investors.

According to the CoinSpeaker Analytics:

Shiba Inu $SHIB Burn Rate Skyrockets 13,900% as SHIB Price Eyes Rebound

Shiba Inu (SHIB) has seen a huge spike in its burn rate, suggesting a possible price rebound. According to the Shibburn tracker, the platform that monitors the rate and amount of SHIB burnt, the burn rate has spiked by more than 13,900% in the last 24 hours. As a result, 96,634,993 SHIB tokens have been sent to dead wallets. This notably aligns with the community’s effort to reduce the token’s circulating supply.

This massive burn rate surge coincides with an increase in the price of SHIB earlier this week. After this short-paced uptick, the token’s price has fluctuated. At the time of this writing, SHIB traded at $0.000014, corresponding with a 1.09% dip, per CoinMarketCap data.
The burn rate has reignited new hopes for a potential price rebound. From the circulating supply of about 583 trillion SHIB, the project has successfully destroyed over 410 trillion tokens.

The huge burn rate comes after an automated burn mechanism – ShibTorch – went live on Shibarium recently. Precisely, on August 9, the Layer 2 network, designed for the Shiba Inu ecosystem, underwent a crucial hard fork. The upgrade involved deploying a new version of the Bor software (v1.1.2-bone).

Upon successfully deploying at the block height of 6,206,570, the upgrade implemented a new burn mechanism designed to automate the burning of Shiba Inu. SHIB marketing lead LUCIE shared a few details on how the mechanism works. She clarified that it would be tied to users’ transaction fees.

Therefore, 70% of all base transaction fees collected on the network will automatically go into the burn wallet. This leaves the remaining 30% for network maintenance, development, and growth. Noteworthy, the transaction fees are converted to SHIB before being burned.

As expected from its inception, this new burn mechanism is significantly reducing the amount of SHIB in circulation, as evident in the recent percentage burn rate reported.

According to the CoinTurk Analytics:

Analyst Predicts Toncoin $TON Could Outperform Market Despite Recent Decline

According to Lee, the double-digit decline mirrors Bitcoin’s performance, which has recently struggled to surpass the $60,000 mark. Lee also noted that despite recent struggles, TON has outperformed Ethereum. 

“TON has recently experienced a decline due to negative news, but despite major bad news like the arrest of Telegram’s founder, we noticed that TON’s price did not experience a serious collapse and instead showed significant resilience and recovery. Over the past 30 days, TON’s decline was almost at the same level as Bitcoin’s and significantly outperformed Ethereum.”

Lee observed that despite the negative press surrounding Pavel Durov’s arrest, the overall sentiment for TON remains bullish. He attributed this resilience to the unity among the TON ecosystem’s founders, projects, and supporters, which resulted in a noticeable absence of FUD on social media.

According to the CoinGape Analytics:

$XRP News Today: Analyst Predicts XRP Price Eyes $27

XRP Price Could Surge to $27, according to crypto analyst EGRAG. This forecast is based on EGRAG’s analysis of XRP price movements within a Fibonacci Channel on the monthly chart. According to the analysis, this surge is contingent upon XRP replicating half of its 2017 bull run performance.

Analyst Predicts XRP Price Eyes a Break Out To $27

In recent XRP news, crypto analyst EGRAG presented a bullish scenario that could see the digital asset reaching as high as $27. This prediction hinges on the asset achieving half of its meteoric rise witnessed during the 2017 bull market. 

Utilizing the Fibonacci Channel, EGRAG outlined vital resistance and support zones that could play pivotal roles in XRP rise. Notably, a break above the $0.75 level, currently seen as major resistance, is crucial for initiating this rally.

Furthermore, EGRAG emphasized that if XRP can sustain a close above this threshold, the path could be clear toward the $27 mark, coinciding with the 0.618 Fibonacci level. This analysis rests on historical price actions mirrored in the current market structure, suggesting a repeat of the past bull run’s intensity.

According to the Cryptonews Analytics:

Shiba Inu Investors Ditch for a New Dog-Coin ICO Targeting 100x Gains

Meme coin investors are selling some of their Shiba Inu ($SHIB ) as new opportunities emerge to buy potential Dogecoin ($DOGE) killers that are still only in presale.

Original meme coin Dogecoin shed 5.8% over the seven days and 3.4% over the last 24 hours to hit $0.1001.
The two sector leaders held the fort a bit better than their peers. Among the top ten biggest meme coins by market cap, several dropped by double-digit percentages this week.

Pepe ($PEPE) fell 13.4%, DogWifHat ($WIF) tumbled 24.6%, Bonk ($BONK) dropped 13.8%, Brett ($BRETT) spiraled 20.4%, and Popcat ($POPCAT) nosedived 30.3%.
By contrast, market leader Bitcoin ($BTC) only fell 2.1% and Ethereum ($ETH) dropped 3.2%.

Over on Shiba Inu’s price chart, we can see
$SHIB raded between $0.000015 and $0.00002 for most of the summer, before the crypto crash on August 5 dragged the price down as low as $0.000011.

This means any further downward price action could send $S$SHIB wn to a new support level of $0.00001. A relative strength index (RSI) of 53 indicates that falling momentum is likely to drop off once the wider market is back in the green.

However, that may take time. At the time of writing, crypto markets shed 2.8% in the last 24 hours and now command a $2.16 trillion market cap. The meme coin sector lost 2.4% and currently capitalizes $38.4 billion in the market.

According to the CoinGape Analytics:

Will $XRP Price Stay Bullish? Targeting $1 As XRPL TVL Plunges

XRP price is inching closer to breaching $0.6 resistance. The token sits on support at $0.58 with a descending trendline providing additional support marginally below. It is worth noticing that XRP breaking $0.64 could ignite a rally toward $0.7, boosting overall optimism.

The Moving Average Convergence Divergence (MACD) reinforces the bullish thesis with a buy signal and holding above the neutral zone. Green histograms toward the positive region as a sign of relief to investors who feared a possible downswing to $0.5.

XRP sits on top of all three short-term moving averages, including the 20-day, 50-day, and 200-day EMA. The crossover of the 20-day EMA above the 50-day EMA suggests pressure building behind Ripple to support a modest recovery above $0.6.

Traders will look for a break above $0.6 to validate the uptrend. However, should XRP price fail to close above this crucial level, a retest of $0.58 support may follow.

According to the Crypto Economy Analytics:

Cardano ($ADA ) has lost a considerable portion of its value and has fallen out of the top 10 cryptocurrencies by market capitalization, currently standing at the eleventh position. Previously, ADA enjoyed consistent growth. However, it has faced several challenges leading to this outcome.

Since early January, ADA has experienced a gradual loss in market share. Despite a slight increase following the 2022 bear market, its overall trend has been downward. Currently, ADA is down by 0.4%, with a trading price of $0.3365 per token. It has a market capitalization of approximately $12 billion, just below TRON’s TRX token, which has a capitalization of $12.15 billion.

Cardano was launched in 2017 by Charles Hoskinson, who had previously worked on the development of Ethereum. The network was notable for implementing a proof-of-stake consensus algorithm while maintaining Bitcoin’s UTXO ledger model.

According to the NewsBTC Analytics:

Crypto Experts Believe This New ICO Will Surpass Dogecoin
($DOGE ) Becoming The Biggest Memecoin

Dogecoin (DOGE) began as a lighthearted joke, inspired by the Shiba Inu meme. Despite its origins, DOGE has evolved into a major player in the cryptocurrency space. Its journey from a meme to a widely recognized digital asset is a testament to its viral success and the strength of its community. The coin’s ability to leverage popular culture and internet memes has played a crucial role in its sustained popularity.

DOGE’s continued success can be attributed to its vibrant community and the influential endorsements it has received. Its widespread recognition and the ongoing support from high-profile figures have cemented its position in the crypto market. Investors continue to flock to DOGE, drawn by its history of substantial returns and its status as a symbol of internet culture.

According to the CoinTurk Analytics:

Experts Predict Bitcoin $BTC Price Breakout Soon

In crypto, we don’t usually see such long boring periods except during bear market crashes. The trend is upward, and much data confirms this. Therefore, we should see a real recovery in the market at some point.

Renowned crypto analyst Rekt Capital compared previous halving periods with the current situation and said this nightmare will end. Rekt Capital is known for identifying historical breakout points, and time may prove him right. Or not, because no one has a crystal ball to see the future.

“Bitcoin tends to enter the Parabolic Phase of the cycle approximately 160 days after the Halving. If history repeats itself, Bitcoin could break out in just over a month. That means the end of September.”

Institutional ETF adoption increased by 27% in the last quarter, with 262 firms purchasing BTC ETFs from scratch. This trend suggests that targets above $80,000 for BTC could become a reality. For the breakout expected soon by two popular analysts, the first stop will be prices in the $80,000 range.

However, some are giving a clear price target for September. Titan Of Crypto is one of them, arguing that the journey to $86,000 will begin in September. If $60,000 is surpassed, we will see nearly $1 billion worth of short positions liquidated on the current chart, which is one of crypto’s favorite things. Maybe the long-awaited event will finally happen after months of crab markets?

Based on the CoinTurk News Analytics:

$XRP Shows Signs of Recovery After Recent Decline

Looking at XRP’s recent price movements, Fibonacci retracement levels provide important clues. As seen in the chart below, the pullback from $0.5720, which corresponds to the 0.618 Fibonacci level, indicates that this level forms a strong resistance. On the downside, the $0.50 level should be watched as a critical support.

The Awesome Oscillator (AO) clearly gives a sell signal in the chart above. On the other hand, the RSI indicator moving below the 50 level indicates market weakness. These data suggest that XRP may remain under pressure before a trend reversal occurs.

Similar to the Awesome Oscillator, the MACD indicator used to track XRP’s overall trend continues to give a sell signal. As long as the MACD line remains below the signal line, it provides a strong signal that the downtrend will continue. Additionally, the RSI indicator hovering around the 50 level suggests that volatility may increase before the trend gains a clear direction.

So, what can be expected for the cryptocurrency XRP at this stage? XRP’s staying below the $0.60 level requires investors to be cautious in the short term. If the price fails to retest this level, the $0.50 support will gain more importance. A move below this level could lead to a deeper correction.

XRP is attempting to recover following recent declines, but technical indicators do not yet signal a clear recovery. Volatility is likely to continue in the short term. Investors should closely monitor the $0.50 support level. A drop below this level could mean further downside potential for XRP. At the time of writing, XRP price is at $0.56.

According to the NewsBTC Analytics:

Bitcoin $BTC Exchange Outflows Soar To Yearly High – Could This Fuel A Return To $70,000?

According to on-chain data from IntoTheBlock, Bitcoin addresses have been steadily accumulating the coin in the past week. This data is highlighted through the analytic platform’s netflow data, which is crucial in forecasting an upcoming price uptick or downtrend for cryptocurrencies. The data highlights a significant shift, showing that outflows from exchanges have substantially outpaced inflows, with a staggering $1.7 billion more worth of BTC being withdrawn from exchanges than deposited.

Recent dynamics in the wider world of investments and increased volatility saw Bitcoin falling below $50,000 again last week. Interestingly, this drastic price drop marked the first time Bitcoin traded below $50,000 in six months. However, be that as it may, the price decline gave many crypto believers a chance to accumulate more BTC at a six-month low. This created buying pressure among some traders, which in turn helped to prop up the price of BTC and helped to prevent further declines.

A reduction in Bitcoin available on exchanges can have significant implications for the market. With fewer coins available for sale, buying pressure may increase, potentially driving up prices as demand remains steady or grows. At the time of writing, Bitcoin is trading at $60,989, having established support at $60,000. 

Considering the prevailing bullish sentiment, this buying pressure may as well be the momentum that pushes the Bitcoin price to the challenging $70,000 price level. However, the journey to $70,000 presents four different resistance levels at $63,730, $65,510, $67,350, and $69,150. 

However, Bitcoin is not out of the woods yet, as the exchange on-chain market depth shows there are still more sellers than buyers. At the time of writing, sellers have placed sell orders of 31,458 BTC at an average price of $61,267 on various crypto exchanges. Meanwhile, buyers have placed buy orders for only 27,734 BTC at an average price of $61,263. 

Based on the Finbold Analytics:

Ethereum $ETH bulls eye $4,000 as analysts warn of ‘major rebound’

According to the analyst, on the daily chart, Ethereum is confronting a critical resistance zone between $2,717 and $2,817. 

This area has been tested multiple times, with each rejection met by strong buying pressure around the $2,500 level, suggesting that bulls remain firmly in control. 

However, the chart still looks bearish, as the price has struggled to break through key resistance levels, maintaining a pattern of lower highs. 

Holding above $2,500 is crucial for maintaining the current bullish momentum. If Ethereum breaks through this resistance, the next major hurdle would be around $3,500, potentially paving the way toward the $4,000 mark.

Additionally, the daily chart reveals a “change of character” (CHOCH) pattern, indicating a possible shift from a bearish to a bullish market structure, which could further support a significant upward move.

Currently, Ethereum is trading at $2,620, reflecting a 0.82% increase in the last 24 hours and an accumulated loss of 9% over the past seven days, according to data as of August 11.

For traders and investors, the focus remains on the $2,717 to $2,817 resistance zone. A successful breakout above this level could pave the way for Ethereum to reach new highs, with $4,000 being a realistic near-term target.

However, if the bulls fail to clear this resistance, a pullback toward the $2,500 support level could occur. 

While the overall technical structure suggests that Ethereum is positioned for a significant move, the bearish chart elements highlight the importance of overcoming key resistance levels to sustain the bullish momentum and propel the cryptocurrency to new heights.

Based on the AMBCrypto Analytics:

Cardano alert: Why $0.43 is the price level to watch for ADA

Cardano [$ADA ] was in a downtrend on the daily timeframe and was trading just beneath the resistance level at $0.355. The technical indicators showcased a bearish trend as well.

AMBCrypto’s analysis of on-chain metrics revealed a more hopeful picture for the bulls. Will the recovery come about in August, or will long-term holders have to wait many more weeks?

The OBV has been flat over the past few days after the heavy drop in the first week of August. This showed that buying volume has not established superiority yet. The daily RSI was at 40 and the momentum remained bearish.

Together, they showed that the bias was bearish. The price action revealed the same, but there is some hope for the bulls Since the drop below $0.3, ADA has slowly pushed higher.
Over the next few weeks, it could form a bullish lower timeframe structure and set a series of higher lows and higher highs if it can breach the $0.355 resistance. Yet, in the daily timeframe, the recent lower high at $0.429 remains the level to beat.

According to the AMBCrypto Analytics:

$WIF ahead of Dogecoin? Analyzing dogwifhat’s 21% surge

For starters, SHIB has recorded 3.17% over the past seven days while DOGE reported low gains of 3.47% on weekly charts, and PEPE was enjoying a hike of 5.41%.

While the crypto markets have experienced considerable recovery, most memecoins have gained on daily and weekly charts, with WIF at the forefront.

The surge has left analysts betting on WIF to lead the memecoin industry. On the X page, Platinum Capital shared that,

“If the market holds and #wif can hold 1.8, we are in for a move on #dogwifhat. $wif could lead this #memecoin next leg.”

As of this writing, WIF was trading at $1.86 after recording a 21.34% surge over the past week. Equally, the memecoin has increased its market cap by 3.17% to $1.8 billion.

However, while the altcoin has experienced a price surge, it has declined in trading volume by 37.51% over the past 24 hours to $255.5 million.

Looking at the Altcoins’ Advance decline ratio (ADR), which is 1.15, suggests the asset is experiencing more gains in value than losses. This indicates a bullish market sentiment.

Also, the RVGI has experienced an uptrend from -0.4 to -0.12 over the past week. Although it’s still below zero, the uptrend shows the upward movement is gaining momentum as the market sentiment shifts.

Looking further, AMBCrypto’s analysis of Coinglass shows that WIF open interest has surged by 51.1% over the past week. Open interest has increased by 51.5% over the past week from $165m to $250m.

At the same time, $WBT current price stands at 10.30 USDT. This value is -29.49% below the historical high (ATH) of $14.64 and 237.23% above the historical low (ATL) of $3.06. Over the past week, WBT has had a 0.022 increase in price, with an absolute change of 0.2140%. Over the past 24 hours, WBT price has changed by 0.2140%, with an absolute change of $0.022.

According to the AMBCrypto Analytics:

Can Cardano cross the $0.47 resistance? What ADA’s 34% surge says

Cardano’s [ADA] recent price action has taken the crypto market by storm.  The asset has indicated significant bullish momentum in the past few days.

Cardano has surged by about 34.48% since the 6th of July, successfully breaking over the $0.4260 resistance level. This breakout has set the stage for a potential push towards the next significant resistance at $0.4671.

However, a 4.5% pullback saw ADA retesting $0.4260 on the 14th of July, which may now serve as a support level.

AMBCrypto further analyzed Coinglass’ data, which showed significant fluctuations over the past 24 hours. The data indicated several periods of strong bullish dominance, followed by bearish reversals.

As of this writing, the data indicated a spike in long positions. This suggested steady building momentum while the market awaited further direction.

As Cardano approaches the $0.4671 resistance level, investors should watch for continued momentum or signs of exhaustion. 

The recent pullback to $0.4260 could either serve as a stage for further gains, or signal the start of a more significant retracement to the support levels below.

$ADA

According to the NewsBTC Analytics:

Dogecoin Price (DOGE) Bounces to $0.125: Will This Rally Sustain?

After forming a base above the $0.1050 level, Dogecoin price started a decent increase. DOGE cleared the $0.1150 resistance to move into a positive zone like Bitcoin and Ethereum. The price even climbed above the $0.120 level and the 100-hourly simple moving average.

A high was formed at $0.1264 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.1167 swing low to the $0.1264 high.

Dogecoin is now trading above the $0.1220 level and the 100-hourly simple moving average. There is also a key bullish trend line forming with support at $0.1195 on the hourly chart of the DOGE/USD pair. If there is a fresh increase, the price might face resistance near the $0.1265 level.

If DOGE’s price fails to gain pace above the $0.1265 level, it could start a downside correction. Initial support on the downside is near the $0.1240 level. The next major support is near the $0.1215 level and the 50% Fib retracement level of the upward move from the $0.1167 swing low to the $0.1264 high.

$DOGE

According to the NewsBTC Analytics:

Analyst Says Solana Price Could Rise 450% To $840 – Here Are The Drivers

A pseudonymous crypto analyst who goes by ‘NoLimit’ on the TradingView website has presented a bullish scenario for the Solana price. This bullishness stems from a number of developments both on the SOL chart and in the general crypto market.

For the Solana price, the crypto analyst explains that there is a massive cup and handle formation brewing on the chart. This formation is important as it is historically bullish and appeared back in 2021 when the Solana price hit its current all-time high above $250.

Furthermore, the crypto analyst also points to the Fibonacci extension, which suggests that the SOL price is headed for a new all-time high. This extension points to SOL climbing to $550 and even as high as $840, which would be a 450% move from its current value.

When it comes to market-wide bullishness, the crypto analyst pints to the Spot Ethereum ETFs as being another reason why the Solana price is headed for a new all-time high. The expectation that the Spot Ethereum ETFs will begin trading soon has already begun to propel price, with analysts predicting it will send the ETH price as high as $5,000.

On its own, the Solana cryptocurrency is doing quite well so far. According to data from the on-chain token tracking website Coinmarketcap, the SOL daily trading volume is up more than 13% in the last day to bring its trading volume above $2 billion.

Given that the price has been rising in the last day, this suggests that the Solana price is seeing buying pressure, something that is bullish for the coin in the long run. Now, if this buying pressure continues, then the altcoin could be seeing a new all-time high soon.

Presently, the SOL price is trending just above $151, enjoying 4.59% gains in the last day. On the weekly and monthly charts, the price is up 7.22% and 5.08%, respectively.

$SOL

According to the Crypto Briefing Analytics:

Bitcoin briefly touches $65,000 amid strong ETF inflows

The price of Bitcoin (BTC) briefly crossed the $65,000 mark on Tuesday, recording a 14% increase over the past week, according to data from TradingView. The rally came on the heels of massive inflows into US spot Bitcoin exchange-traded funds (ETFs).

US spot Bitcoin ETFs have extended their bullish streak, collectively recording $301 million in net inflows on Monday, SoSoValue’s data shows. This marks the seventh consecutive day of positive flows.

BlackRock’s IBIT and ARK Invest’s ARKB shared the top spot, each reporting around $117 million in daily inflows. Fidelity’s FBTC and Bitwise’s BITB saw inflows of around $36 million and $15 million, respectively.

Other gains were also seen in Invesco’s BTCO, VanEck’s HODL, and Franklin’s EZBC. Meanwhile, the rest, including Grayscale’s GBTC, Valkyrie’s BRRR, WisdomTree’s BTCW, and Hashdex’s DEFI, reported zero flows yesterday.
Bitcoin has reversed its downward trend amid strong Bitcoin ETF inflows.

The price broke through the $60,000 level on Sunday and extended its rally above $64,000 on Monday. At the time of reporting, Bitcoin is trading at around $64,200, slightly down in the last 24 hours, per TradingView’s data.
According to crypto trader Rekt Capital, Bitcoin could reach a new record high by the end of summer with renewed momentum.

Hank Wyatt, founder of DiamondSwap, told Crypto Briefing that the worst correction might be over as selling pressure from the German government eased. Last week, the government entity reportedly completed its Bitcoin liquidation.
$BTC

Based on the Crypto.News Analytics:

XRP bullish sentiment surges, whale activity doubles

According to data provided by Santiment, the number of whale transactions consisting of at least $100,000 worth of XRP increased by 92% over the past 24 hours — rising from 332 to 637 unique transactions per day.

A crypto.news report shows that XRP investors started accumulating the asset on July 2 when XRP was trading at around $0.478. 

Data from the market intelligence platform shows that the accumulation phase might be coming to an end amid increased exchange activity. According to Santiment data, the number of XRP tokens flowing into the exchanges rose from around 55.1 million to 92.9 million coins over the last day.

The amount of XRP leaving exchanges also recorded a notable surge from 25.3 million to 69.7 million tokens. 
The 23.2 million token difference shows that the amount of XRP holders looking for short-term profits is higher than investors accumulating the asset.

In addition, the XRP Relative Strength Index (RSI) is hovering around the 67 mark, per Santiment. The indicator shows that XRP is slightly overbought at this point and a price correction would be expected.

XRP is up by 2.8% in the past 24 hours and is trading at $0.544 at the time of writing. The asset’s market cap is sitting at $30.3 billion with a daily trading volume of $2.2 billion.

$XRP