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Is Avalanche About To Blow? Don’t Miss This Potential Breakout – Analyst

Smart contracts platform Avalanche (AVAX) is generating excitement in the crypto community with a potential breakout signal. Prominent analyst World of Chart has identified a bullish technical pattern that could propel AVAX prices significantly higher in the coming days.

Falling Wedge Pattern Hints At Upside

World of Chart points to the presence of a “falling wedge” pattern on AVAX’s price chart. This pattern typically forms during a consolidation phase, with price action confined between two converging trendlines that slope downwards.

The key aspect of this pattern lies in the diminishing price range within the wedge, suggesting a buildup of buying pressure. A breakout from the upper trendline is often interpreted as a bullish signal, indicating a potential reversal of the downtrend and the start of a price surge.

Avalanche Poised For Takeoff?

AVAX might see a significant upswing if it is able to break above the upper trendline of the falling wedge, according to World of Chart.

Following the breakout, there may be a substantial price increase as a result of this ascent, which would confirm the bullish formation. The expert draws attention to the possibility of significant momentum and an explosive upward advance.

The possibility of an AVAX breakout has ignited discussions and speculation among crypto investors and traders, particularly those who actively follow technical analysis.

Investor Caution Advised Despite Bullish Outlook

While the potential for a bullish breakout is high, World of Chart emphasizes the inherent volatility and uncertainty of the cryptocurrency market. External factors beyond technical analysis can significantly impact price movements.

Technical Indicators Paint A Positive Picture

Beyond the falling wedge pattern, other technical indicators seem to be adding weight to the bullish narrative for AVAX. The recent price increase of over 16% in a single week suggests a potential shift in investor sentiment.

Additionally, the impressive surge in trading volume signifies heightened market activity and growing investor interest in AVAX.

Eyes On The Prize: Will Avalanche Deliver?

The coming days will be crucial, with all eyes glued to the price action and any signs of a breakout. A successful breakout could lead to significant gains for AVAX holders, while a failed breakout could dampen investor enthusiasm.

Featured image from Pexels, chart from TradingView

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Crypto Analyst Reveals 6 Must-Buy Altcoins With The Most Potential

As the crypto market exhibits signs of a burgeoning altseason, crypto analyst Alex Wacy has shared a strategic forecast with his 175,000 followers on X. Wacy predicts a selective yet explosive growth phase for altcoins, emphasizing the critical nature of asset selection and market timing.

Crypto Market Outlook And Asset Selection Strategy

Wacy’s recent thread underscores the anticipation of a massive altseason: “Only ~15% of altcoins will bring 10-100x in this hyper growth. Asset selection matters more than ever. One slip-up, and you’re out.” His analysis highlights the potentially selective nature of the upcoming market phase, suggesting significant disparities in performance among altcoins.

Wacy believes the market is currently undervalued and primed for a significant uptick. He suggests that the consolidation of the total altcoin market cap above $700 billion would confirm the bull trend, signaling the onset of altseason. This perspective is rooted in current market behaviors where sentiment remains largely bearish, presenting a contrarian opportunity for growth.

TOTAL 3 crypto market cap

He categorizes the current sentiment into three types of capitulation—price, time, and growth—indicating varied investor behaviors that often precede market recoveries. The prevailing fear of further drops, according to Wacy, will likely clear out weak hands, setting the stage for a supercycle driven by Fear of Missing Out (FOMO) and subsequent strong buying activities.

Top 6 Altcoins With The Most Potential

#1 And #2: WIF as well as PEPE are the memecoins highlighted by Wacy as potential early movers in the anticipated altseason. “Look at WIF and PEPE, structurally similar to DOGE during its meteoric rise. These coins have cultivated a community and meme appeal that could very well parallel SHIB’s market cap in the previous cycle,” Wacy asserts. He notes that PEPE appears particularly poised for a breakout, whereas WIF, though currently weaker, has the potential for quick shifts in market sentiment.

PEPE WIF Dogecoin comparison

#3 Ondo Finance (ONDO): This Real World Asset (RWA) focused coin is characterized by its robust buy support during price dips. Wacy sees ONDO as an undervalued asset with a significant upside. “ONDO has a resilient buy floor; even slight retractions to around $0.64 could offer lucrative entry points ahead of substantial upward trajectories,” he advises. His first target is the $1.62 price zone.

#4 Arweave (AR): Known for its decentralized data storage solutions, Arweave is praised by Wacy for its strong market structure and resilience during downturns. Moreover, Arweave is building AO, a decentralized computer network which can be run from anywhere. “Arweave isn’t just storage; it’s a foundational technology in a decentralized future. A consolidation above $49 would likely be the catalyst for an explosive growth phase,” he predicts.

#5 Echelon (PRIME): Wacy discusses PRIME’s multifaceted ecosystem, which encompasses a trading card game and an AI-powered game, both of which are gaining traction. “Echelon stands at the confluence of gaming and blockchain technology, attracting a broad audience with its innovative gameplay and decentralized features,” he remarks. From a technical analysis perspective, the PRIME price is near a favorable buying zone from $14.97 to $17.5. “Hoping that altcoins are already entering the altseason, would like to see a V-shaped reversal,” Wacy states.

#6 Ethena (ENA): This synthetic dollar protocol offers an alternative to traditional banking and is poised for growth. “Ethena’s pattern on the weekly charts typically precedes major price movements. With the next major unlock event slated for April 2025, the buildup could be substantial,” Wacy explains. He likens ENA’s current price trajectory with the one of SEI.

ENA vs SEI comparison
Strategic Profit-Taking

Wacy also provides strategic advice on profit-taking, anticipating that the altcoin market index, TOTAL3, could ascend to between $2 trillion and $2.3 trillion during the altseason. He suggests considering partial profit-taking once the market reaches approximately $1.6 trillion. His rationale is based on historical patterns where many investors fall prey to greed, resulting in substantial losses.

The analyst further advises preparing a profit-taking strategy in advance, advocating for the reservation of 10-15% of positions for potential further growth beyond initial targets. He warns that the last surge in a growth phase often triggers excessive greed, suggesting that recognizing such signals could be crucial for timely exits before the onset of bear market conditions.

At press time, WIF traded at $3.58.

WIF price

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900 Million Telegram Users Send TON Token Soaring 15% – Details

Telegram, the messaging giant, has reached a staggering 900 million users. This surge directly impacts Telegram Open Network (TON), the blockchain designed to work seamlessly within Telegram. TON has seen a remarkable 15% growth in the last week, highlighting its potential to become a mainstream crypto player.


TON price action. Source: Coingecko

TON: Cheap Transactions Draw In Users

The key to TON’s recent success lies in its tight integration with Telegram. Users can ditch the hassle of separate crypto wallets and make transactions directly through Telegram’s native wallet.

This frictionless experience, coupled with TON’s cheap transactions and fee-free USDT transfers, is a major draw for everyday users who might be hesitant to dive into the complexities of traditional crypto exchanges.

Farming In Your Chats

While TON facilitates everyday transactions, its goals extend further. The Telegram ecosystem thrives on a network of apps and bots that introduce inventive ways to interact with your wallet. A prime example is “farming,” which allows users to participate in decentralized finance (DeFi) activities using TON or other tokens, all within the familiar Telegram interface.

This functionality to “farm” directly within chat windows showcases how TON fosters a deeper integration with cryptocurrencies. It breaks down the barriers between messaging and finance, potentially leading to a more seamless adoption of crypto in our daily digital interactions.

Security Concerns

However, TON’s path to mainstream adoption isn’t paved with roses. The biggest thorn in its side is security. While the integrated wallet offers undeniable convenience for small transactions, security experts raise concerns about its suitability for storing large amounts of cryptocurrency.

Unlike traditional hardware wallets, which are considered the gold standard for secure crypto storage, Telegram’s software wallet might be more susceptible to hacks or breaches. This could be a significant deterrent for users wary of entrusting their hard-earned crypto to a messaging app.

Regulatory Tightrope

Another looming challenge for TON is the ever-evolving regulatory landscape surrounding cryptocurrencies. Governments worldwide are still grappling with how to handle these digital assets, and regulations can significantly impact how TON operates within different markets.

Navigating this regulatory tightrope will be crucial for TON’s long-term success. The network needs to ensure it complies with evolving regulations while still offering users the functionality and freedom they expect from a decentralized blockchain.

Featured image from Pexels, chart from TradingView

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XRP Holders Stack Coins Despite Price Dip: Bullish Signal Or HODL Of Desperation?

The cryptocurrency market has been battered by recent storms, with many altcoins experiencing significant price drops. XRP, however, seems to be weathering the tempest with a hint of defiance. While its price has dipped, on-chain data reveals intriguing trends that suggest a potential silver lining for XRP investors.

XRP Accumulation On The Rise: Diamond Hands Or Whale Whispers?

Despite the price decline, a surprising trend has emerged. The number of investors holding between a thousand and 1 million XRP tokens has actually grown by 0.20% over the past month, according to data from Santiment. This could signify a growing population of “diamond hands” – investors who hold onto their XRP despite market volatility, believing in its long-term potential.

However, another possibility exists. The decrease in the number of whales holding between 1,000 and 1 million XRP tokens could indicate these larger investors are consolidating their holdings, potentially accumulating even greater amounts of XRP. This consolidation could be a precursor to future market moves by these whales.

Technical Indicators Whisper Of A Price Reversal: Bullish Undercurrents?

Technical analysis paints a cautiously optimistic picture for XRP. The Chaikin Money Flow (CMF), an indicator that tracks the flow of money into and out of an asset, has been trending upwards despite the price decline.

This “bullish divergence” suggests that even as the price falls, there might be a hidden buying force accumulating XRP. Investors might be interpreting the price drop as a buying opportunity, anticipating a future upswing.

A Sea Of Uncertainty: Legal Battles And Market Headwinds

While the on-chain data and technical indicators offer some positive signs, it’s crucial to acknowledge the storm clouds still lingering over XRP. The ongoing legal battle between Ripple Labs, the company behind XRP, and the US Securities and Exchange Commission (SEC) continues to cast a shadow. The outcome of this case could significantly impact XRP’s price and overall market perception.

Furthermore, the general health of the cryptocurrency market remains a significant factor. If the broader market continues its downward trend, it could drag XRP down with it, regardless of any positive on-chain developments.

A Coin To Watch?

XRP’s current situation is a curious mix of resilience and vulnerability. The uptick in smaller investors and potential whale consolidation suggest some underlying belief in XRP’s future. The technical indicators hint at a possible price reversal, but the legal battle and broader market uncertainties create a complex landscape.

Featured image from VitalMTB, chart from TradingView

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Why Did The Solana (SOL) Price Jump Today?

Solana (SOL) is currently up by 4% after jumping from $142 to $148 in the past 24 hours. Interestingly, Solana has made a 23% gain from $119.56 since May 1 and could hold on to sustain this price increase steadily for the rest of the month. On-chain data has revealed behind the scenes that some whales are accumulating and transferring SOL tokens which reflects some intuition of bullishness surrounding the cryptocurrency. 

Particularly, on-chain data from whale transaction tracker Whale Alert has revealed the movement of 267,077 SOL worth $38.6 million from crypto exchange Binance into an unknown wallet in the past 24 hours. Another notable transfer was the movement of 11 million SOL worth $1.6 billion from a private wallet address to another private wallet address.

Solana Whale Movement

Whale transfers are very common in the crypto industry. They are of different types and they generally tend to shift the sentiment among crypto traders. Whale transfers from exchanges into private addresses could indicate whales are holding onto their assets in anticipation of a price surge.

On the other hand, transfers from private wallets into crypto exchanges most likely mean a selloff, which could increase selling pressure on these exchanges. A third type of whale transfer is between two private wallets, which could be for a various number of reasons.

The recent transfer of 11 million SOL falls into the third category of whale movement. A further look into on-chain transaction data shows that the transfer was made between two stake addresses.

Consequently, the tokens are locked up and inactive at the moment. As of now, their movement is likely going to have little to no effect on the price of Solana. 

Whale Accumulates Solana

On the other hand, private wallet “8NWAHM” has been accumulating SOL in the past 24 hours. While Whale Alert only noted an interesting transfer of 267,077 SOL worth $38.6 million into the address, a closer look into this wallet address shows this is the second major inflow into the address in the past 24 hours.

In an earlier transaction, 49,999 SOL worth $7.23 million made their way from crypto exchange Binance into the wallet address. 

This whale seems to be positioning itself for a price surge in the coming weeks, and the accumulation has, in turn, contributed to buying pressure for SOL. 

At the time of writing, Solana is trading at $145. Despite the 24-hour price gains, Solana is still experiencing a 20% correction in a 30-day timeframe. However, the cryptocurrency could continue this price uptick and eventually break above $200 again in May. 

Featured image from Pixabay, chart from TradingView

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Cardano Comeback: Analyst Reveals Why It’s Time To Get Back Into ADA

Cardano (ADA) might be going through a lackluster price action at the moment, but analyst Ali Martinez believes the crypto might be gearing up for a parabolic run. While taking to social media platform X, Martinez talked about an intricate price analysis that ADA investors might find appealing.

Particularly, the analyst noted that the cryptocurrency’s current price formation is showing signs of a comeback, according to its price history.  

Cardano Price History Shows Signs Of Comeback

The price of Cardano has been on a correction path since the middle of March when it peaked at $0.79. Interestingly, current price levels means that the cryptocurrency has corrected over 40% from this peak.

This has led to concerns from some investors about the ADA’s price trajectory for the rest of the years, particularly considering different inactivity concerns and others surrounding the cryptocurrency. However, according to Martinez, this cycle is normal for the cryptocurrency.

The renowned analyst’s take on ADA is based on its historical trend. According to the 1M ADA/USD timeframe chart shared by Martinez, the 50% price drop ADA recorded in the past month could be a golden opportunity for crypto investors to position themselves for a price surge. 

Looking at ADA’s price history shows this may just be a temporary setback before the next rally. A similar price action played out between 2019 and 2020 before the surge to new all-time highs in 2021.

After breaking out of a consolidating channel in 2020, ADA went on a 75% surge and then corrected by 56% over three months. This correction was soon forgotten as ADA bounced up and went on an impressive 4,095% bull run to reach its current all-time high of $3.09.

As Martinez noted, a similar price action seems to be playing out. ADA recently broke out of a consolidating channel which played out for almost the entirety of 2023. This break above the channel saw ADA performing a 72% surge before its recent correction.

If history were to repeat itself, ADA might kickstart a parabolic run in May and push up to new highs in the coming months. Martinez predicted a 2,480% price surge to $9.98 within the next nine months. 

What To Expect In Cardano’s Next Bull Run

It is important to note that the crypto market has evolved significantly since 2021 and crypto assets have become less volatile, especially during uptrends. Many things have to be put in place in order for a $9 ADA price to become a reality.

For instance, there needs to be a wider inflow and mainstream adoption of cryptocurrencies. According to crypto prediction website Telegaon, Cardano could reach the $9 price level by the end of the decade. 

Martinez believes the recent price correction might actually be one of the last buy-the-dip opportunities for investors to get on ADA. At the time of writing, ADA is trading at $0.4638 and is down by 1% in the past 24 hours.

Featured image from Pexels, chart from TradingView

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PEPE Primed For A Big Leap: 80% Price Increase Incoming?

The cryptocurrency market may be experiencing a cool down, but one meme coin is refusing to catch a cold. PEPE, a token emblazoned with the internet’s famous frog, has defied recent bearish trends with a surge in price and trading activity. This resilience has fueled speculation of a potential “bullish breakout” in the coming days, with some analysts predicting astronomical gains.

PEPE Weathers The Storm

While Bitcoin and Ethereum have taken a breather in recent weeks, PEPE has exhibited surprising strength. Unlike its more established counterparts, PEPE hasn’t succumbed to the broader market chill. In fact, the meme coin has managed to inch up slightly this week and even enjoyed a nearly 10% price jump in the last 24 hours. This resilience has captured the attention of investors and analysts alike.

Trading Frenzy: PEPE Ignites Investor Interest

The newfound bullishness surrounding PEPE is further bolstered by a surge in trading activity. The coin boasts a 24-hour trading volume exceeding a staggering $1.26 billion, placing it firmly in the spotlight. Additionally, PEPE’s market capitalization currently sits at a healthy $3.23 billion, a testament to its growing presence within the crypto landscape.

Technical Analysis Paints A Bullish Picture

Adding fuel to the fire, crypto analyst World Of Charts has identified a bullish flag pattern in PEPE’s recent price action. This technical indicator often precedes a price breakout, suggesting that PEPE might be on the cusp of a significant upward trajectory.

World Of Charts predicts a potential price surge of 80-90% in the coming days if the coin manages to break free from its current resistance level.

Meme Coin Frenzy: A Double-Edged Sword?

Despite the optimistic outlook, a cloud of caution hangs over PEPE’s future. The coin falls under the category of meme coins, a notorious sector within the cryptocurrency market known for its volatility and often lacking strong fundamental backing.

Unlike established projects with real-world applications, meme coins often rely on community hype and internet trends to propel their value. This can lead to sharp price spikes followed by equally dramatic crashes.

While the prospect of an 80-90% return on investment is undeniably enticing, experts urge potential investors to approach PEPE with a dose of healthy skepticism. The analyst prediction, while optimistic, should not be taken as financial gospel. The cryptocurrency market, especially the meme coin segment, is inherently unpredictable.

Featured image from Pexels, chart from TradingView

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Shiba Inu In Danger Zone: 15% Price Crash Incoming?

The price of Shiba Inu (SHIB), the self-proclaimed “Dogecoin killer,” has been caught in a technical tug-of-war, with bears attempting to push it lower and bulls clinging to signs of hope. Analysts are scrutinizing the memecoin’s chart pattern and on-chain data to decipher its next move.

Descending Triangle Looms: Will SHIB Fall Or Fly?

A descending triangle formation has emerged on SHIB’s 3-day chart. This pattern typically indicates a potential price decline, as the asset’s price gets squeezed between converging support and resistance lines. The big question for SHIB holders: will the price break below support and continue its descent, or will it defy gravity and break out of the triangle, sparking an uptrend?

Falling Demand Raises Concerns For Shiba Inu

Adding fuel to the bearish fire, SHIB has witnessed a significant drop in demand. Data from Santiment reveals a worrying trend: the daily active addresses for SHIB have plummeted by more than 50% over the past month. This suggests a shrinking user base and potentially lower trading volume, which can put downward pressure on the price.

New Investors Give SHIB The Cold Shoulder

Further dampening spirits is the sharp decline in new addresses joining the SHIB party. According to on-chain data, the number of new addresses created daily to trade SHIB has nosedived by 51% in the same period. This lack of fresh blood entering the market could exacerbate the selling pressure.

SHIB’s High Valuation: A Recipe For Sell-Off?

Another factor causing concern is SHIB’s Market Value to Realized Value (MVRV) ratio. This metric compares the current market price with the average acquisition price of all SHIB tokens. Currently, SHIB’s MVRV ratio sits at a lofty 38%. When this ratio is high, it suggests the asset might be overvalued, potentially triggering existing holders to cash in on their profits and contribute to a sell-off.

A Silver Lining?

Despite the prevailing bearish sentiment, a glimmer of hope flickers for SHIB. The coin’s weighted sentiment has surprisingly turned positive recently, indicating a shift in market perception. This newfound optimism could translate into a price breakout, defying the descending triangle’s bearish implications.

Related Reading: Bitcoin Update: $120 Million Futures Liquidated As Price Takes A Beating

Can Bullish Sentiment Propel SHIB To Higher Ground?

If the positive sentiment persists, analysts predict a potential price surge for SHIB, reaching $0.00003. This would be a welcome change for investors who have witnessed a recent price slump.

Meanwhile, SHIB’s Fibonacci retracement level shows that the memecoin’s price may drop further 15% to trade at a low of $0.000018 if the bears continue to put pressure on it and it falls below support.

SHIB investors now have more cause for concern as this underscores the possible repercussions of a bearish breakthrough.

Featured image from Pexels, chart from TradingView

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Crypto Pundit Lists 4 Altcoins To Buy Once The Bitcoin Price Bottoms

Crypto analyst DonAlt has listed four altcoins he will buy once he believes that Bitcoin’s price has bottomed. The analyst further provided insights into why he is particularly bullish on these altcoins. 

Ethereum Is Number One On The Altcoins List

DonAlt mentioned in an X (formerly Twitter) post that he will buy “ETH, DOGE, LTC, and maybe PEPE” whenever he believes BTC has bottomed. In a video posted on his YouTube channel, he gave insights into why he was bullish on these crypto tokens, especially Ethereum.

The crypto analyst mentioned that Ethereum is now low enough for him to be comfortable with buying. He also suggested that the crypto token was likely a good buy at this price level, stating that it is currently having a good price action (especially on the weekly chart) with Bitcoin struggling. 

DonAlt added that Ethereum will likely experience a good breakout as Bitcoin struggles and that its underperformance could be over soon. However, DonAlt hasn’t bought Ethereum yet. He revealed that he will bet on Ethereum if Bitcoin reclaims $62,000. 

The analyst further suggested that Bitcoin reclaiming this level would determine whether or not the bottom was in. To support his stance, he noted that many altcoins are struggling to hold their support levels due to Bitcoin’s breakdown. However, if Bitcoin were to reclaim $62,000, the rest of the market would likely pick up, too. 

Meanwhile, DonAlt remarked that Ethereum could move to $4,000 if it manages to close above $3,000 on its weekly chart. He further stated that this is the most bullish he has been on the second-largest crypto token in years. 

Why Dogecoin (DOGE) And Pepe (PEPE)

DonAlt didn’t give an exact reason why he was looking to buy Litecoin other than the fact that it is an old coin. However, he gave insights into why he was bullish on the other two altcoins, Dogecoin and Pepe. 

According to him, the foremost meme coin is still likely to reach $1 if Bitcoin hasn’t topped out, which presents an opportunity to make a lot of money. Interestingly, he had previously claimed that Dogecoin was a better investment than Bitcoin. He also revealed that he is waiting for Dogecoin to drop to around $0.11 before buying, although he is still comfortable with buying around $0.15 if it doesn’t. 

Meanwhile, as to why he is bullish on Pepe, he suggested that the meme coin was a good buy because of its recent performance. He went as far as comparing it to Dogwifhat (WIF) and claimed that he would pick Pepe over it because Pepe is on a “non-joke-like chain” (Ethereum), unlike WIF, which is a “meme on a meme chain” (Solana).

Ethereum price chart from Tradingview.com (Altcoins)

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Why This Crypto Bull Run Might Not Live Up To The Past: Analyst

In a detailed analysis shared with his 788,000 followers on X (formerly Twitter), renowned analyst Pentoshi has forecasted a more restrained outlook for the current crypto bull run, suggesting that it may not mirror the explosive growth seen in previous cycles. His insights provide a deep dive into the underlying factors that could temper the market’s performance.

Why Crypto Investors Have To Expect Diminishing Returns

Pentoshi began his analysis by stating, “This cycle should have the largest diminishing returns of any cycle,” attributing this prediction to several key market conditions. Primarily, he noted that the base market capitalization for cryptocurrencies has increased significantly in each successive cycle, setting a higher starting point that makes further exponential growth increasingly challenging.

“Each cycle has set a floor about 10x the previous lows in terms of market cap,” Pentoshi explained. He provided a historical context, recounting that when he entered the crypto market in 2017, the market cap for altcoins was only around $12-15 billion, a figure that ballooned to over $1 trillion during peak periods. He argued, “That growth isn’t repeatable,” pointing out that the decentralized finance (DeFi) sector, which was then nascent, played a significant role in driving previous cycles’ exceptional returns.

Another significant factor Pentoshi highlighted is the dramatic increase in the number of altcoins and the corresponding market dilution. “Today, however, there are a lot more alts, and a lot more dilution,” he remarked, indicating that the proliferation of new tokens spreads investment thinner across the market, reducing the potential for individual tokens to achieve substantial price increases.

Pentoshi also touched upon the demographic shifts in crypto ownership. He contrasted the early days of crypto adoption, when approximately 2% of Americans were involved in the market, to the present, where over 25% of Americans have some form of crypto investment. “It just requires more capital to move the markets, and there will continue to be a lot more alts, spreading it out further,” he noted, emphasizing the logistical and financial challenges of replicating past growth rates in a much more saturated market.

An often-overlooked aspect of market dynamics, according to Pentoshi, is the role of token liquidity and its impact on price stability. He detailed that recently, tokens amounting to about $250 million were unlocked daily, though not necessarily sold. “Assuming they all got sold, that is the inflows you’d need just to keep prices stable for 24 hours,” he explained, highlighting the delicate balance required to maintain current market levels, let alone drive prices upward.

Looking forward, Pentoshi was conservative in his expectations for the Total3 index, which tracks the top 125 altcoins (excludes Bitcoin and Ethereum). He estimated, “My best guess is that this cycle we don’t see Total 3 go 2x past the 21′ cycle ATH. So 2.2T max for Total3.” This projection underscores his broader thesis that while the market continues to offer daily opportunities, the era of “easy, outsized gains” might be behind us.

Pentoshi concluded his analysis with advice for investors, suggesting a more cautious approach to market participation. “If you believe the cycle is 50% over, you should be taking out more than you are putting in and building up some cash and buying other assets with lower risk in the meantime,” he advised, stressing the importance of securing gains and diversifying holdings to mitigate risk.

Reflecting on the psychological aspects of investing, he added, “Most people never really learn. Because if you can’t control your greed, and defeat it, you are destined to give back your gains repeatedly.” His parting words were a reminder of the cyclical and often predatory nature of financial markets, urging investors to secure profits and protect themselves from foreseeable downturns.

At press time, TOTAL3 stood at $635.565 billion, which is still more than -43 % below the last cycle high.

crypto TOTAL3

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Is MATIC Poised For Takeoff? Key Area Breaks Records, Fueling Bullish Outlook

Polygon (MATIC), the Ethereum scaling solution, has been a hot topic for weeks. Its daily active addresses recently hit an all-time high, exceeding 1.4 million, a testament to the network’s growing user base. This surge in activity, however, presents a tale of two sides for MATIC.

Polygon’s Busy Streets: A Sign Of Growth Or Gridlock?

The high traffic on Polygon’s virtual streets is undeniable. The consistent daily active addresses above 1 million suggest a thriving ecosystem. However, a closer look reveals a potential bottleneck. While the number of users has skyrocketed, transaction fees have taken a nosedive. This decline in fees translates to a drop in revenue for the network, raising concerns about Polygon’s long-term sustainability.

The story doesn’t end there. Despite the network’s bustling activity, the Total Value Locked (TVL) in Polygon’s Decentralized Finance (DeFi) protocols has dipped. This could indicate a cautious approach from DeFi whales, hesitant to fully commit their assets in the current market climate.

MATIC Bulls Charge In, Waving Green Flags

Despite the underlying concerns, MATIC bulls are charging forward. The token’s price experienced a surge exceeding 8% in the past 24 hours, currently hovering around $0.71. This bullish momentum could be attributed to a rise in buying pressure.

Data suggests a decrease in MATIC supply on exchanges, coupled with an increase in holdings by large investors (whales). This shift indicates investor confidence in Polygon’s future potential.

Technical Indicators Flash Bullish, But Caution Remains

Technical indicators also paint a bullish picture for MATIC. The Chaikin Money Flow (CMF), Money Flow Index (MFI), and the Moving Average Convergence Divergence (MACD) all point towards a potential upward trend.

These indicators suggest strong buying pressure and a bullish upper hand in the market. However, the Bollinger Bands, which measure price volatility, indicate that MATIC might be entering a period of lower price swings.

While this could be a sign of consolidation after the recent surge, it also introduces an element of uncertainty. The cryptocurrency market is notoriously unpredictable, and technical indicators can be misleading.

The Road Ahead: Can Polygon Navigate The Challenges?

Polygon finds itself at a crossroads. The network’s high activity is a positive sign, but the decline in fees and DeFi TVL raises concerns. The recent price surge and bullish technical indicators offer a glimmer of hope for MATIC investors. However, navigating the volatile cryptocurrency market requires a cautious approach.

For Polygon to maintain its current momentum, it needs to address the issue of declining fees. Exploring alternative revenue models or implementing fee structures that incentivize network usage are crucial steps. Additionally, fostering a robust DeFi ecosystem by attracting innovative protocols and users could reignite investor confidence and drive TVL growth.

Featured image from Pixabay, chart from TradingView

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Buy Crypto In May, Go Away: Arthur Hayes Shares His Top Altcoin Picks

In his most recent publication dated May 2, 2024, Arthur Hayes, the founder of exchange BitMEX, shared his insights into the crypto market’s recent tumultuous behavior and the broader macroeconomic signals shaping potential future trends. Titled “Mayday,” his essay directly addresses the crypto market, which has experienced significant volatility since mid-April.

Stealth Money Printing Is Commencing

Hayes begins by noting the observable distress in the crypto markets, which he attributes to a confluence of factors including the end of the US tax season, anticipatory fears about Federal Reserve policy decisions, the Bitcoin halving event, and stagnating growth in the assets under management (AUM) for US Bitcoin exchange-traded funds (ETFs).

He interprets these factors as a necessary purge of speculative excess, stating, “The tourists will sit out the next phase on the beach… if they can afford it. Us hard motherfuckers will hodl, and if possible, accumulate more of our favorite crypto reserve assets such as Bitcoin and Ether, and/or high-beta shitcoins like Solana, Dog Wif Hat, and dare I say Dogecoin (the OG doggie coin).”

A significant portion of Hayes’ analysis focuses on the Federal Reserve’s recent adjustment to its quantitative tightening (QT) program. Previously set at a reduction of $95 billion per month, the Fed has dialed this back to $60 billion.

Hayes interprets this as a covert form of quantitative easing, injecting an additional $35 billion per month into the dollar liquidity pool. He explains, “When you combine the Interest on Reserve Balances, RRP payments, and interest payments on US Treasury debt, the reduction in QT increases the amount of stimulus provided to the global asset markets each month.”

Hayes also scrutinizes actions by the US Treasury, particularly under Secretary Janet Yellen. He discusses the Treasury’s Quarterly Refunding Announcement (QRA), which outlines the expected borrowing and cash balances for upcoming quarters. For Q2 2024, the Treasury anticipates borrowing $243 billion, a figure Hayes points out is $41 billion higher than the previous forecast, due to lower-than-expected tax receipts.

He predicts this increased supply of Treasuries could lead to higher long-end rates, a situation Yellen may counter with yield curve control measures—a scenario that could catalyze a significant rally in Bitcoin and crypto prices.

Hayes touches on the failure of Republic First Bank, emphasizing the response by monetary authorities as a key indicator of systemic fragility. He criticizes the federal safety net that ensures all depositors are made whole, arguing that it masks deeper vulnerabilities within the US banking system and leads to a stealth form of money printing, as uninsured deposits are effectively guaranteed by the government. This, Hayes argues, is a fundamental misalignment that could lead to significant inflationary pressures.

Buy Crypto In May, Go Away

Hayes is candid about his investment strategies in the current environment. He advocates buying now. “I’m buying Solana and doggie coins for momentum trading positions. For longer-term shitcoin positions, I’m upping my allocations in Pendle and will identify other tokens that are ‘on sale.’ I will use the rest of May to increase my exposure. And then it’s time to set it, forget it, and wait for the market to appreciate the inflationary nature of the recent US monetary policy announcements.”

He concludes with a broad prediction that, despite the market’s recent volatility, the underlying liquidity conditions created by US monetary and fiscal policies will provide a floor for crypto prices, leading to a gradual upward trend. “While I don’t expect crypto to fully realize the recent US monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher,” he states, signaling his bullish outlook.

For Bitcoin, Hayes predicts that the premier cryptocurrency will recapture the key $60,000 level and then move in a range between $60,000 and $70,000 until August because of the annual summer lull.

At press time, BTC traded at $59,393.

Bitcoin price

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Buy Crypto In May, Go Away: Arthur Hayes Shares His Top Altcoin Picks

In his most recent publication dated May 2, 2024, Arthur Hayes, the founder of exchange BitMEX, shared his insights into the crypto market’s recent tumultuous behavior and the broader macroeconomic signals shaping potential future trends. Titled “Mayday,” his essay directly addresses the crypto market, which has experienced significant volatility since mid-April.

Stealth Money Printing Is Commencing

Hayes begins by noting the observable distress in the crypto markets, which he attributes to a confluence of factors including the end of the US tax season, anticipatory fears about Federal Reserve policy decisions, the Bitcoin halving event, and stagnating growth in the assets under management (AUM) for US Bitcoin exchange-traded funds (ETFs).

He interprets these factors as a necessary purge of speculative excess, stating, “The tourists will sit out the next phase on the beach… if they can afford it. Us hard motherfuckers will hodl, and if possible, accumulate more of our favorite crypto reserve assets such as Bitcoin and Ether, and/or high-beta shitcoins like Solana, Dog Wif Hat, and dare I say Dogecoin (the OG doggie coin).”

A significant portion of Hayes’ analysis focuses on the Federal Reserve’s recent adjustment to its quantitative tightening (QT) program. Previously set at a reduction of $95 billion per month, the Fed has dialed this back to $60 billion.

Hayes interprets this as a covert form of quantitative easing, injecting an additional $35 billion per month into the dollar liquidity pool. He explains, “When you combine the Interest on Reserve Balances, RRP payments, and interest payments on US Treasury debt, the reduction in QT increases the amount of stimulus provided to the global asset markets each month.”

Hayes also scrutinizes actions by the US Treasury, particularly under Secretary Janet Yellen. He discusses the Treasury’s Quarterly Refunding Announcement (QRA), which outlines the expected borrowing and cash balances for upcoming quarters. For Q2 2024, the Treasury anticipates borrowing $243 billion, a figure Hayes points out is $41 billion higher than the previous forecast, due to lower-than-expected tax receipts.

He predicts this increased supply of Treasuries could lead to higher long-end rates, a situation Yellen may counter with yield curve control measures—a scenario that could catalyze a significant rally in Bitcoin and crypto prices.

Hayes touches on the failure of Republic First Bank, emphasizing the response by monetary authorities as a key indicator of systemic fragility. He criticizes the federal safety net that ensures all depositors are made whole, arguing that it masks deeper vulnerabilities within the US banking system and leads to a stealth form of money printing, as uninsured deposits are effectively guaranteed by the government. This, Hayes argues, is a fundamental misalignment that could lead to significant inflationary pressures.

Buy Crypto In May, Go Away

Hayes is candid about his investment strategies in the current environment. He advocates buying now. “I’m buying Solana and doggie coins for momentum trading positions. For longer-term shitcoin positions, I’m upping my allocations in Pendle and will identify other tokens that are ‘on sale.’ I will use the rest of May to increase my exposure. And then it’s time to set it, forget it, and wait for the market to appreciate the inflationary nature of the recent US monetary policy announcements.”

He concludes with a broad prediction that, despite the market’s recent volatility, the underlying liquidity conditions created by US monetary and fiscal policies will provide a floor for crypto prices, leading to a gradual upward trend. “While I don’t expect crypto to fully realize the recent US monetary announcements’ inflationary nature immediately, I expect prices to bottom, chop, and begin a slow grind higher,” he states, signaling his bullish outlook.

For Bitcoin, Hayes predicts that the premier cryptocurrency will recapture the key $60,000 level and then move in a range between $60,000 and $70,000 until August because of the annual summer lull.

At press time, BTC traded at $59,393.

Bitcoin price

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Is Ethereum Back? Record 267,000 New Users Spark Speculation

The winds of change are swirling around Ethereum, the world’s second-largest cryptocurrency. Despite a recent price dip, the network has witnessed a surge in new user activity, sparking a wave of optimism. However, the outsized influence of large holders, known as whales, continues to cast a long shadow.

New Wallets Open For Business

Data from blockchain analytics firm Santiment reveals a surge in new Ethereum wallets, with a record-breaking 267,000 created on April 28th and 29th. This influx marks the highest two-day increase since October 2022 and suggests a potential resurgence of interest in the Ethereum network.

This trend defies the current market downturn, with many cryptocurrencies experiencing significant price drops. Analysts speculate that the rise in new wallets could be fueled by several factors, including:

  • Anticipation of future growth: Investors may be looking towards upcoming Ethereum upgrades that promise improved scalability and security, betting on the network’s long-term potential.
  • Bargain hunters: The recent price dip might be seen as an attractive entry point for new investors seeking a discount on Ethereum.

On Minnows And Whales

While the number of new users is encouraging, a closer look at Ethereum’s address distribution reveals a stark disparity in holdings. According to CoinMarketCap, a staggering 97% of Ethereum addresses hold between $0 and $1,000 worth of the cryptocurrency. This signifies a large pool of small-scale investors, often referred to as “minnows.”

However, the real power lies with a select few. Whale tracking platform Clank estimates that whales, representing only 0.10% of all Ethereum addresses, control a whopping 41% of the total circulating supply. This translates to an average holding of nearly 10 million ETH per whale, valued at a staggering $3.7 million.

Holding Steady: A Vote Of Confidence?

Despite the recent price decline, Ethereum appears to be weathering the storm better than the broader crypto market. In fact, Ether is up more than 30% year-to-date (YTD) from an opening price of about $2,282.

As of today, Ethereum sits at $3,014, with a total market capitalization of $362 billion. Notably, the market experienced an average decline of 8.75% over the last week, highlighting Ethereum’s relative resilience.

Furthermore, data suggests that a majority of Ethereum investors (74%) are long-term holders, demonstrating a strong belief in the project’s future. This “hodling” mentality indicates a commitment to maintaining their Ethereum positions for the long haul, even in the face of short-term market fluctuations.

Featured image from Pixabay, chart from TradingView

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Altcoins In Trouble As Seasoned Analyst Predicts 40% Drop In Prices

Altcoins have suffered more in the crypto market following the Bitcoin price crash, leaving a lot of investors in losses. This is not out of the ordinary as these altcoins are known to have a higher volatility compared to Bitcoin, hence, their price swings can be more pronounced. Given the recent decline, the expectation is that the altcoins will recover. However, one analyst does not agree with that assessment.

Altcoins Headed For 40% Crash

In an analysis posted on X (formerly Twitter), seasoned crypto analyst Benjamin Cowen shocked the crypto community with his expectations for altcoins. According to the analysis, the worst is far from over for the altcoin market, as there are still more crashes to come.

Cowen explained that this was analyzed using altcoins versus Bitcoin pairs, and it seems each one looks weak against the apex cryptocurrency. This is due to the expected rate cuts, and historical performance suggests that a decline will follow.

The crypto analyst pointed to the 2019 rate cuts and how altcoins had reacted to that development back then. Following the rate cuts, altcoins plunged against Bitcoin, with major players recording up to 40% losses during this time. “Perhaps this time is not different? This would mean ALT/BTC pairs drop another 40% from here over the next few months,” Cowen said.

Cowen expects this to place out regardless of what happens in the market in the meantime. He explains that even if the market does recover in the short term, it does not invalidate the thesis. “Short-term countertrends do not invalidate this view,” he stated.

If this repeats, then it could turn an already harsh market trend even bloodier. The altcoin market cap has already fallen below $1 trillion as of the time of writing, but a 40% decline from here could send it as low as $600 billion.

Bitcoin Crash Drags Down Crypto Market

While the Bitcoin crash has been brutal, the impact on altcoins has been much more pronounced. Ethereum has held up nicely with less than a 4% decline during this time, but others such as Stacks (STX), Arweave (AR), Neo (NEO), and Sei (SEI) are down an average of 9% in the last 24 hours.

Meme coins were also not left out of the bloodbath, with market leader Dogecoin dropping 6% to $0.126 and Pepe (PEPE) plunging 7.74% to $0.0000063. Bonk (BONK) recorded a 5% decline to eliminate some of its gains from last week, and Shiba Inu fell 4.18%.

Amid all of this, though, there have been some market winners, with Optimism (OP) recording 12% gains. Cosmos (ATOM) followed with a 9.8% increase, and Starknet (STRK) rose 9%, making them the top gainers of the day, according to data from Coinmarketcap.

Altcoins total market cap chart from Tradingview.com (Crypto)

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Solana Crawls: Network Update Fails To Fix Traffic Jam, Price Feels The Pinch

Solana, the self-proclaimed high-speed blockchain darling, finds itself facing an uphill battle. A confluence of a broader crypto market downturn and persistent network congestion threatens to stall its momentum and cast doubt on its long-term viability.

Solana Slides With The Market

The recent crypto market correction hasn’t spared Solana. The token, which enjoyed a stellar run for months, has mirrored the overall slump. On Tuesday, April 30th, Solana dipped to $127, marking a daily decline of 4% and a weekly drop exceeding 10%.

Lingering Congestion Woes Plague Solana

While the market downturn is a concern, a more pressing issue for Solana seems to be its network congestion woes. Recent updates aimed at fixing a bug related to the QUIC protocol haven’t delivered the promised network decongestion.

As of April 29th, the transaction failure rate remained stubbornly high at over 65%. This persistent network sluggishness directly contradicts Solana’s core value proposition of high transaction speed and efficiency.

The congestion issues are particularly worrisome for sectors like Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs), which rely heavily on fast and reliable transactions. Solana has carved a niche for itself in these areas, and prolonged congestion could tarnish its reputation and deter future projects and users.

Investor Optimism On Hold, But Long-Term Signals Remain

Interestingly, investor reaction to the congestion hasn’t been overwhelmingly negative – yet. Solana’s price movement has largely mirrored the broader market trend, suggesting investors might be taking a wait-and-see approach.

Perhaps there’s a flicker of hope that Solana can overcome these challenges. While the short-term technical indicators paint a bleak picture, some long-term signals, like the 200-day moving averages, still offer a glimmer of optimism.

Solana At A Crossroads

The coming weeks and months will be crucial for Solana. Can it address the network congestion issues definitively? Will it be able to regain the trust of developers and investors shaken by the recent performance?

Solana’s future hinges on its ability to navigate these rough waters. If it can overcome these hurdles and emerge with a more robust and scalable network, it might just weather the storm and reclaim its position as a leader in the blockchain space.

However, if the congestion problems persist, Solana could find itself falling behind competitors who can offer a smoother and more reliable user experience.

Featured image from Pexels, chart from TradingView

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Shiba Inu Surprise! Binance Japan Listing Ignites 360% Price Spike

Shiba Inu (SHIB), the meme coin with a loyal following, experienced a whirlwind of activity in the Japanese market this week. The catalyst? The listing of a new SHIB/JPY trading pair on Binance Japan, a move that initially sent the price soaring.

Shiba Inu Soars On Binance Listing, But Briefly

On April 30th, Binance Japan announced the addition of the SHIB/JPY pair to its spot trading platform. This move provided Japanese investors with a convenient way to trade SHIB directly with their yen, eliminating the need for currency conversions. The news was met with excitement in the Shiba Inu community, particularly in Japan, where the dog-themed coin enjoys a strong following.

Following the listing, SHIB experienced a momentary surge, with its price briefly reaching ¥0.016666 (approximately $0.00011). This represented a staggering 360% increase from the opening trading price of the pair.

A prominent Japanese Shiba Inu community member, KURO, documented the surge on social media, further fueling the buzz.

However, the jubilation proved short-lived. The price quickly stabilized at a much lower point, ¥0.003741 (around $0.000024), highlighting the volatility inherent in the cryptocurrency market. While the initial spike generated excitement, it’s crucial to remember that such surges are often fleeting and don’t necessarily translate to long-term growth.

Can SHIB Maintain Its Footing? A Look Beyond The Listing

The impact of the Binance Japan listing on SHIB’s long-term price trajectory remains to be seen. While it undoubtedly increased accessibility for Japanese investors, several factors will determine the coin’s future performance.

The cryptocurrency market itself is currently facing headwinds. Bitcoin, the world’s leading cryptocurrency, has seen a significant price correction in recent months, dragging other digital assets down with it. SHIB’s fate is likely intertwined with the overall market sentiment.

The success of the Shiba Inu development team’s ongoing projects, such as the Shibarium Layer 2 blockchain and token burning initiatives, could significantly impact the coin’s value proposition. If these projects gain traction and deliver on their promises, they could attract more investors and drive up demand for SHIB.

The Rise Of Litecoin As A Fiat Onramp

Interestingly, the increased focus on fiat-to-crypto gateways like the SHIB/JPY pair coincides with the growing popularity of Litecoin (LTC) as a method to buy other cryptocurrencies. Unlike Bitcoin, Litecoin boasts faster transaction times and lower fees, making it an attractive option for investors seeking a smoother entry point into the crypto market.

Whether LTC can capitalize on this trend and establish itself as a preferred fiat onramp remains to be seen, but it presents an alternative pathway for those hesitant about the volatility associated with direct fiat-to-meme coin purchases.

Featured image from Pexels, chart from TradingView

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Upcoming Token Releases: These Altcoins Are Set To Inject Billions Into The Crypto Market By May

May 2023 is poised to become a landmark month for the crypto market, with major token releases slated to inject substantial liquidity and potentially catalyze shifts in market dynamics.

Key developments from AEVO and PYTH and significant contributions from other projects are set to channel over $3 billion into the sector.

Substantial Crypto Releases Set the Stage

Token Unlock, a platform dedicated to tracking the release schedules of digital assets, indicates that May will witness one of the most substantial influxes of tokens into the cryptocurrency market this year.

At least 20 crypto projects are preparing to unleash tokens worth more than $10 million each, cumulatively amounting to $3.661 billion. These releases underscore the activity and continuous growth within the crypto sector, even amid fluctuating market conditions.

Among the tokens set to be released, AEVO and PYTH stand out with their billion-dollar injections, underscoring their strong market presence and investor confidence.

AEVO, a decentralized exchange, is scheduled to release 827.6 million AEVO tokens on May 15, which surpasses $1.25 billion at current valuations. This release will dramatically increase AEVO’s circulating supply by 757.95%

PYTH Network, known for providing decentralized market data, plans to follow suit with its considerable token release. On May 20, PYTH will distribute 2.13 billion tokens, valued at around $1.21 billion, representing 141.67% of its existing circulating supply.

Such movements are pivotal for the projects and the broader market, influencing liquidity and potentially price stability.

In addition to AEVO and PYTH, Wu Blockchain reports that Token Unlock has identified several other cryptocurrencies set for significant releases in May.

These include DYDX, ENA, SUI, MEME, GAL, MAVIA, APT, STRK, ARB, APE, IMX, ROSE, PIXEL, and AVAX. ID, YGG, OP, and PRIME are poised to release tokens valued at over $10 million each, rounding out a comprehensive list for the month.

Anticipating An Altcoin Surge

Meanwhile, El Crypto Prof, a prominent crypto analyst on X, recently projected a significant rally for the altcoin market based on historical market cycles. He notes that post-Bitcoin halving periods, like those in 2016 and 2020, typically lead to a phase of accumulation in altcoins, followed by a market rally.

The analyst suggests the current market mirrors these past cycles, indicating a potential upcoming surge. He believes this could result in the altcoin market cap potentially doubling from its current estimate of around $1 trillion to $2 trillion.

Additionally, Daan Crypto Trades, another analyst, supports the view that the ETH/BTC ratio is a more accurate measure of altcoin market sentiment than the SOL/BTC ratio, signaling positive prospects for altcoins.

Crypto market cap excluding BTC on TradingView

Featured image from Unsplash, Chart from TradingView.

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XRP Price On Watch: Can This 23 Million Token Purchase Spark A Rally?

The cryptocurrency market continues to navigate a period of sluggishness. Yet, a recent whale activity has injected a flicker of hope for XRP, the native token of Ripple. On Tuesday, a significant investor, commonly referred to as a whale, acquired a hefty 23 million XRP, sparking renewed interest in the embattled token.

Whale Movement: A Sign Of Shifting Tides?

The purchase was identified by Whale Alert, a platform that tracks large cryptocurrency transactions. The tokens originated from a Binance exchange wallet, with the recipient address remaining undisclosed. However, the fact that the recipient was a Binance user suggests potential for further trading activity.

This whale movement is seen by some analysts as a potential turning point for XRP. Historically, large-scale purchases by whales have often preceded price surges. However, some experts caution against overinterpretation. Whale activity can be driven by various factors, and a single purchase doesn’t guarantee a sustained upward trend for XRP.

Open Interest: A Mixed Signal

Adding a layer of complexity is the recent decline in XRP Open Interest (OI). As per data from Coinalyze, XRP OI has dipped by 2.12% over the past 24 hours. Open Interest reflects the total value of outstanding futures contracts for a particular cryptocurrency. A decrease suggests a potential reduction in leveraged positions, which could indicate short-term selling pressure.

However, analysts point out that the perpetual contracts, which constitute the majority of XRP OI, still hold significant weight at over $374 million. A renewed buying spree could trigger a reversal in the Open Interest trend, potentially propelling the price upwards.

The Lingering Shadow Of The SEC Lawsuit

It’s impossible to discuss XRP’s future without acknowledging the ongoing legal battle with the US Securities and Exchange Commission (SEC). The lawsuit, which alleges XRP is an unregistered security, has undoubtedly cast a long shadow over the token’s performance.

While the recent “remedies phase” of the lawsuit hints at a potential settlement, investors remain cautious. The final outcome and its timeline are still uncertain, leaving a cloud of ambiguity over XRP’s regulatory status.

XRP Price Outlook: A Glimmer Of Optimism?

Currently, XRP is trading at around $0.50, a significant drop from its all-time high of over $3. The price reflects the broader market slump and the ongoing legal battle.

The recent whale purchase, coupled with ongoing negotiations in the SEC lawsuit, offers a glimmer of hope for XRP bulls. However, a sustained price increase hinges on several factors. A favorable resolution to the lawsuit and a broader market recovery are crucial for XRP to regain its lost ground.

Featured image from Pexels, chart from TradingView