Venezuela has reportedly begun blocking traffic to Binance, one of the world’s largest cryptocurrency exchanges.
Binance acknowledged the situation in an email to its Venezuelan customers, saying, “Many websites belonging to companies in different segments in Venezuela, including social networks, are also facing access restrictions on Binance pages.”
A Significant Transfer of XRP Worth $59 Million Detected on the Ripple Network According to PANews, a significant transfer of 104,156,546 XRP worth approximately $59,019,563 was detected on the Ripple network at around 11:04 PM Beijing time today. The transaction was tracked by Whale Alert, a service that tracks major cryptocurrency movements. This significant transfer highlights the ongoing activity in the Ripple ecosystem.$XRP
Ripple’s Price Rises Amid Market Uncertainty According to CryptoPotato, Ripple experienced a significant price drop to the critical support level of $0.43, which subsequently attracted significant buying pressure. This increase pushed the price above the 100- and 200-day moving averages, leaving market participants uncertain about the future direction of XRP. The upcoming moves are expected to provide more clarity on the trend. Analysis of Ripple’s daily chart reveals that after falling below the 100- and 200-day moving averages, the price reached a significant support area at $0.43, causing fear in the market. However, this level saw significant buying interest, which led to a bullish recovery and a pullback to the broken upper boundary of a multi-month descending channel. XRP managed to reclaim the critical 100- and 200-day moving averages, indicating a possible bullish trend. Currently, Ripple is in a decisive price range with significant support at the 200-day moving average around $0.54 and significant resistance at $0.64. A breakout from this range will likely determine the next move. On the 4-hour chart, Ripple faced strong selling pressure near the critical resistance at $0.64, which resulted in a sharp decline towards the important support area defined by the Fibonacci levels of $0.5 ($0.52) and $0.618 ($0.48). As expected, buying pressure emerged at this critical support, pulling the price back towards the major resistance at $0.64. XRP currently remains in a significant range with resistance at $0.64 and support at $0.55. A breakout from this range will likely determine the direction of the next significant price move. Considering the recent price action, the market turmoil could be seen as a temporary correction, with the potential for a fresh increase to reclaim the $0.64 resistance area.$XRP
FTX Customer Compensation Plan Voting to End August 16 According to BlockBeats, the voting period for the FTX customer claims plan will end at 4:00 p.m. on August 16, according to the Kroll voting interface.
In mid-July, the FTX Unsecured Creditors Official Committee (UCC) announced that it was distributing comments and ballots to customers and creditors via Kroll to vote on the FTX debtors’ customer claims plan. Customers and creditors who hold and file claims in fiat or cryptocurrency other than FTT are eligible to vote. The UCC urged all eligible participants to vote in favor of the plan.$FTT
I thought about it a little and saw that all the phenomena are saying 35k will come. If it goes up a little bit, the same people are writing again, we are flying and running away, 100k etc. 😂😂😂
XRP Outperforms Crypto Market with Significant Gains XRP has broken away from the broader cryptocurrency market with a remarkable performance in daily gains, according to CryptoPotato. While other assets have struggled, XRP saw a sharp price increase of almost 20% over the past day, reaching $0.64 on Thursday before pulling back slightly to $0.61. This uptrend has culminated in an impressive 42% gain over the past month. The bullish trend is being supported by whale wallets accumulating a significant amount of tokens, setting a new record. XRP’s market cap has increased by 23% in the past 24 hours. Santiment’s latest findings suggest that this growth coincides with significant whale accumulation. Wallets holding between 1 million and 10 million tokens on the XRP Ledger now collectively hold 7.06 billion coins, worth around $4.42 billion. In August alone, these whale assets accumulated over 662 million XRP, indicating growing confidence in the asset. Additionally, XRP saw a dramatic increase in social media discussions, reaching its highest levels since January 30. The rising market cap, whale accumulation, and increased social activity indicate increasing investor interest and speculation around XRP’s future price trajectory. According to CoinGlass data, the recent price surge has also caught future investors off guard, leading to the liquidation of $7 million worth of short positions in XRP in the past 24 hours. This renewed positive sentiment follows a significant development in the legal battle between Ripple Labs and the Securities and Exchange Commission (SEC). A New York federal judge has moved toward concluding a three-year securities lawsuit against Ripple Labs, which executives hailed as a major victory for the industry. On August 7, the judge imposed a $125 million civil penalty on the blockchain firm. $XRP