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Summary ⚈ XRP open interest fell from 1.52B to 1.37B as price dipped 5.3%. ⚈ Despite declines, XRP’s long/short ratio remains near 1-month highs, signaling optimism. ⚈ Ripple v. SEC case conclusion could trigger a market-wide boost for XRP. XRP’s open interest has seen a marked decline since the token dropped below $2.20 in the opening days of May. On April 28, the number of open XRP derivatives positions reached a 1-month high of 1.52 billion. By May 6, the cryptocurrency’s open interest had declined to 1.37 billion per data retrieved by Finbold from market intelligence platform CryptoQuant , indicating a greatly lessened degree of speculative betting on the part of traders. XRP open interest on April 28 and May 6. Source: CryptoQuant In the same timeframe, the price of XRP declined from $2.26 to $2.14 — a 5.3% drop. By press time on May 7, the token’s price had further declined to $2.13, bringing XRP year-to-date (YTD) returns down to just 2.58%. XRP pr...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin Bitcoin’s price logged a negative week falling from a high of $102,733 to a low of $91,188 before eventually closing at $94,547. Technical Analysis shows a break above the last lower high and a push back down into the H4 demand zone, which means that although the price took a bearish turn, it is still in overall bullish territory. BTC/USD Chart by TradingView Much of this bearish sentiment is driven by bleak economic expectations. The US Federal Reserve meeting minutes, released on January 8, showed that the reserve bank is cautious about inflation it expects will f...

BONK is the meme coin that’s been turning heads in the crypto world. We’re not surprised! It has had a quite significant surge in the last few days. Starting with October 2, 2024, BONK’s price reached $0.00002571. This means it had an 8.73% increase. This increase has created some intense waves of speculation about its future, and we’re here for that! Also Read: Shiba Inu: AI Predicts SHIB’s Price For The Weekend Meme Coin Forecast: BONK Price Prediction and Market Trends Source: Inside Bitcoins Technical Indicators Point Upward The Relative Strength Index (RSI) for BONK has climbed to 73.72. This has pushed it into the dreaded overbought territory. Even though this might signal for a potential pullback, the widening Bollinger Bands suggest some increased volatility. This combination often precedes significant price movements. BONK Volume Speaks Volumes BONK’s trading volume jumped 48.18% to $221.91 million. This boost shows more people and big investors ar...