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🔥 $XRP Outflows Top $70 Million Amid Profit-Taking Trend Ripple’s XRP has witnessed a remarkable surge recently, climbing to a new all-time high of $3.41 on January 16. However, this rally has triggered a wave of profit-taking among traders, which now threatens the sustainability of its recent gains. With mounting selloffs, XRP is poised to reverse the current trend. 🔸 #Ripple Rally Not Backed By High Demand During Saturday’s trading session, outflows from XRP’s spot markets totaled $74 million. This represents its single-day highest capital outflow in the past 30 days. This follows a profit-taking trend that began after the altcoin reached an all-time high on January 16. When an asset experiences spot outflows, it suggests that investors may be selling or withdrawing the asset. This indicates caution or a lack of confidence, as some participants might be taking profits or moving assets elsewhere. Large spot outflows like XRP’s can put downward pressure on an asset’s price as more sellers enter the market. This can create a negative feedback loop, leading to further selling and a steeper price decline. Moreover, XRP’s declining daily trading volume confirms the surge in selloffs. Over the past 24 hours, the token’s price has climbed by 2%. However, its trading volume plunged 26% during the same period, creating a negative divergence. This negative divergence is formed when an asset’s price rallies while its trading volume plummets. It indicates the weakening of the uptrend, as the price increase lacks broad market participation. This divergence suggests that XRP’s rally in the past 24 hours may not be sustainable and could be followed by a reversal or consolidation. 🔸 #XRP Price Prediction: One of Two Things At press time, XRP trades at $3.19. If selloffs continue, the token’s price will fall further from its all-time high of $3.41 to trade at support at $2.45. However, if it sustains its current uptrend, it will revisit its all-time high and rally past it.
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📣 Chainlink ($LINK ) Bullish Structure Hangs On Key Support Zone – Analyst In line with the general crypto market, Chainlink (LINK) registered a significant price gain in the last week rising by 20.41% according to data from CoinMarketCap. Interestingly, X-based market analysts More Crypto Online have rolled out a market condition critical to sustaining this price uptrend. 🔸 #Chainlink Faces Potential Correction In a recent X post, More Crypto Online shared a cautious technical analysis of the LINK market. Using the Elliott Wave Theory, these analysts have determined Chainlink must stay above $23.85 to preserve its current bullish trend. For context, the Elliott Wave Theory is a trading tool used by traders to predict market breeds based on crowd psychology and market cycles. In price prediction, the Elliott Wave Theory can often present a white scenario i.e. the optimistic bullish case and the yellow wave i.e. an alternative case most likely a correction before an uptrend continues. For the LINK market, the white scenario assumes upward movement will continue provided the asset stays over $23.85 which represents a critical support zone. Any price fall below $23.85 could cause a shift in market dynamics, potentially halting Chainlink’s bullish charge. However, there is also potential for a corrective yellow wave. In this context, this yellow wave follows as an initial upward movement and represents only a temporary pullback before the trend resumes its bullish trajectory. According to the analysts at More Crypto Online, if LINK dips below $23.85, the corrective wave is expected to occur between $19.26 and $22.39, converting this region to a potential retracement zone for further gains. #LINK
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👱 TRUMP Becomes Fourth Meme By Capitalization Trump's newly launched memecoin has surged 145% in the last 24 hours, increasing its market cap to $7.2 billion, making it the fourth memecoin on the market. The token's growth has accelerated after being listed on major exchanges, and it can now be bought on Binance and traded with the lowest fees possible. 🤑 Today, #SOL price broke a new all-time high of $275 after TVL rose above $11 billion and DEX trading volume increased to $10.4 billion, almost 3 times more than Ethereum. ✖️ ProShares filed for a leveraged and inverse #XRP ETF, as well as an XRP futures ETF, after experts said the SEC would soon withdraw its appeal.
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💥 Donald Trump’s ‘Official’ Meme Coin Cracks Top 40 Altcoins: Crypto Community Reacts Trump’s Official Meme Coin It’s safe to say that the crypto community has seen a lot of strange things in the past decade, especially when it comes down to meme coins. After all, there are some based on dogs, cats, famous frog characters, dead squirrels, and so on. However, it’s not every day that you see the promotion of a meme coin made by the president-elect of the world’s largest economy. Donald J. Trump, through his official accounts on Truth Social and X, announced yesterday that he has a new ‘official’ meme coin and urged his almost 100 million followers to ‘join my very special Trump Community.’ 💬 My NEW Official Trump Meme is HERE! It’s time to celebrate everything we stand for: WINNING! Join my very special Trump Community. GET YOUR #TRUMP — Have Fun! — Donald J. Trump (@realDonaldTrump) January 18 A lot of people questioned the legitimacy of the project and guessed that his account was hacked. However, that doesn’t seem likely at the moment. The meme coin’s website resembles those made for Trump’s official NFT collections in the past, credited to the same licensee – CIC Digital. It shows that the current circulating supply is 200 million, but it could go up to as high as a billion within the next three years. Somewhat alarmingly, the groups that will own the biggest shares are ‘creators and CIC Digital,’ with a total percentage of 72%. While others praised the move and officially welcomed Trump to the cryptocurrency space, even though he already has such a project called World Liberty, some, such as ZachXBT, were a lot more skeptical. 🔸 Welcome to Top 40 OFFICIAL TRUMP (TRUMP) is obviously today’s top gainer, and its value has skyrocketed by triple digits. According to data from CMC and CG, its market cap has soared to over $4 billion. Although the two platforms have slightly different valuations ($4.3 billion vs $4.05 billion) at press time, TRUMP has entered the top 40 largest alts by market cap on both.
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📊 Hedera ($HBAR ) Eyes $0.57 All-Time High as Demand Gains Momentum The value of Hedera’s HBAR has surged 27% over the past week. This rally comes after the altcoin broke out of a consolidation range it had traded within for several weeks. As demand accelerates, HBAR is poised to revisit its all-time high of $0.57, which it last reached in 2021. This analysis explains why. 🔸 #Hedera Bulls Aim to Send Token’s Price Higher HBAR has recorded a 27% surge over the past seven days, breaking out of its previous rangebound trading pattern. For the past month, broader market consolidation kept HBAR’s price within a range, facing resistance at $0.33 while finding support at $0.26. However, its double-digit rally has propelled it above this range, with HBAR currently trading at $0.35. The breakout reflects growing buying pressure and sets the stage for potential further gains as bullish momentum builds. Currently, HBAR trades above its 20-day exponential moving average (EMA) at press time, reflecting the bullish market trend. This moving average tracks the average price of an asset over the past 20 days, giving more weight to recent prices to reflect short-term trends. When an asset’s price is above its 20-day EMA, it signals bullish momentum. It indicates that buyers are driving the market and that the asset may continue to rise in the near term. Further, the setup of HBAR’s Moving Average Convergence Divergence (MACD) indicator confirms this bullish outlook. The altcoin’s MACD line (blue) currently rests above its signal line (orange). When this indicator is set up this way, it indicates a bullish trend. This means that buying activity exceeds selloffs among market participants. 🔸 #HBAR Price Prediction: Sustained Demand Could Propel It Toward $0.57 ATH HBAR’s sustained demand could drive its price above the key resistance at $0.44. A successful breach of this price level could provide the support needed for the altcoin to reclaim its all-time high of $0.57, which was last reached four years ago.
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