Here are the top three news stories over the past day presented to you by U.Today.
XRP on verge of crazy price pump - if John Bollinger's bands are right
According to a recent analysis of the XRP price chart, the Ripple-affiliated token could be set for a significant surge in value. The Bollinger Bands, a technical indicator created by prominent trader John Bollinger, are currently experiencing a notable narrowing, which signifies a period of low volatility, often preceding major price movements. A similar narrowing happened in 2017; back then, the XRP price jumped by a whopping 55,000%, peaking at $3.30 per token by early 2018. Another narrowing occurrence happened in late 2020; after that, XRP reached almost $2 per token by April 2021. Thus, the ongoing narrowing of the Bollinger Bands, which started in November 2022, backs the possibility for XRP's potential increase in value in the near future.
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Major Shiba Inu update teased by SHIB team member: Details
In a recent X post, Lucie, Shiba Inu marketing lead, shared some details on the main product that the SHIB dev team is reportedly planning to launch on Shibarium soon. Lucie wrote that the Shib ecosystem is becoming a hub for innovation "driven by blockchain technology and a dedicated community." At the core of this hub will be SHIB Marketplace, which Lucie defined as "a decentralized platform set to democratize power among its users rather than centralized corporations." The SHIB representative then presented the list of key features and core components of the new SHIB product, such as financial autonomy (the marketplace will use smart contracts to put away any intermediaries), active participation (users will actively shape the marketplace, making them participants rather than consumers) and more. However, Lucie provided no dates for SHIB Marketplace's launch.
Ultra-bullish Cardano price pattern no one talks about
Cardano recently made market observers turn their heads, as it formed an interesting pattern on its price chart. At the moment, ADA has arrived at a crucial price level, $0.35, which has consistently served as a pivotal support or resistance point. This support level demonstrated its strength once again last week, when ADA's price held firm at $0.35 after a 12% plunge. After stabilizing, the weekly candle closed above this mark, which sparked a staggering 15.3% increase in ADA's price over the next four days. Notably, this price surge occurred on relatively low trading volumes. This pattern suggests a potential ultra-bullish trend for Cardano that has largely gone unnoticed. As ADA maintains its stability at this critical support level and starts to rise, investors might get more interested in this token.
