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XRP price at risk of $1 dive, its lowest level since Oct. 10

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xrp price

XRP price slumped for two consecutive days, reaching its lowest level since October 10.

Summary

  • XRP price crashed below a key support level on Friday.
  • Spot XRP ETFs shed over $92 million in assets on Thursday.
  • Technical analysis suggests that the XRP token has more downside.

The Ripple (XRP) token slumped to a low of $1.7575, down by 52% from its all-time high. Its market capitalization is over $107 billion, down from its all-time high of $190 billion.

The XRP token retreated amid ongoing weakness in the crypto industry and rising geopolitical tensions. Data from key prediction markets like Polymarket and Kalshi indicate that President Donald Trump will ultimately attack Iran this year.

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These tensions explain why safe-haven assets like the Swiss franc and gold have jumped this week. Crude oil also jumped, with Brent, the global benchmark, crossing the important milestone of $70. 

XRP also dropped as American investors dumped their ETFs. Data compiled by SoSoValue shows that these funds experienced the biggest outflow ever. They shed $92 million in assets on Thursday, with Grayscale’s GXRP shedding $98 million. 

Its outflow was offset by inflows into XRP ETFs from Canary, Bitwise, and Franklin Templeton. Therefore, spot Ripple ETFs have now shed $1.2 million in assets this month. 

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XRP price dived as its futures open interest dropped to over $3.2 billion, its lowest level this year. It has been in a downward trend after peaking at $4.5 billion earlier this month. 

More data from the futures market show that the funding rate plunged to its lowest level in months, while bullish trades worth over $57 million were liquidated.

XRP price technical analysis 

xrp price
XRP price chart | Source: crypto.news

The weekly chart shows that the XRP price has slumped in the past few months. It formed a double-top pattern at $3.3890 and a neckline at $1.77. 

Additionally, the coin has moved below the 50-week and 100-week Exponential Moving Averages. It also retreated below the 50% Fibonacci Retracement, while the Supertrend indicator has turned red.

Therefore, the most likely XRP price forecast is bearish, with the next target being the October 10 low of $1.3847. A move below that level raises the possibility that it will drop to $1.

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Crypto World

Pi Network Price Predictions for this Week

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pi_network_price_chart_0602261


Let’s have a look at some important PI price targets as the cryptocurrency continues to fall toward new all-time lows.

PI reached a new all-time low at 14.6 cents. Is this the bottom?

PI Network (PI) Price Predictions: Analysis

Key support levels: $0.15

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Key resistance levels: $0.2

PI Downtrend Accelerates

PI closed January with a new all-time low after briefly touching $0.146. Since then, buyers have pushed the price above 15 cents, but this is unlikely to hold if the downtrend continues.

Worst, there is no sign of a possible bottom yet, especially when major market leaders such as BTC and ETH continue to fall.

pi_network_price_chart_0602261
Source: TradingView

Aggressive Selloff since the start of 2026

As soon as the new year started, PI bears intensified their presence on the orderbook with massive sell orders. This led to a sharp 25% crash in mid-January. This pressure appears to continue in February, as can be seen on the chart.

pi_network_price_chart_0602262
Source: TradingView

Daily RSI Extremely Oversold

The daily RSI has been in the oversold region (below 30) since the start of the year, and it has not moved out of it. This is an extremely bearish signal, but it does hint at a possible bounce in the future, since prices rarely remain in extremes for long.

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Should a bounce materialize later, watch the resistance at 20 cents, which could stop any relief rally.

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pi_network_rsi_chart_0602261
Source: TradingView

 

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Crypto World

Bitcoin Sees First $69,000 Dip in 15 Months as ‘Someone Enormous’ Sells

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Bitcoin Sees First $69,000 Dip in 15 Months as 'Someone Enormous' Sells

Bitcoin (BTC) fell below $70,000 on Thursday as suspicions over coordinated selling boiled over.

Key points:

  • Bitcoin tumbles below 2021 highs for the first time since November 2024.

  • Gold and silver volatility spark copycat BTC price maneuvers as lower targets stay in play.

  • Market participants say that large entities are selling BTC on a schedule.

Bitcoin collapses to $69,000 in fresh cascade

Data from TradingView captured new 15-month BTC price lows of $69,100 on Bitstamp during the Asia trading session.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The latest plunge marked Bitcoin’s first trip to the $60,000 range since early November 2024. In doing so, it sparked $130 million of crypto long liquidations over four hours, per data from monitoring resource CoinGlass

Crypto liquidations (screenshot). Source: CoinGlass

Bitcoin moved in step with a flash reversal on precious metals. 

Gold, which the day prior had seen a relief bounce to $5,100 per ounce, fell as low as $4,789 Thursday before again targeting the $5,000 mark.

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Silver, meanwhile, gyrated between $90 and $73 per ounce as volatility stayed in control.

XAG/USD one-day chart. Source: Cointelegraph/TradingView

“$BTC has entered a key support zone,” trader CW warned in a post on X

“If it fails to support the 69k level, another significant decline could occur.”

BTC/USDT one-day chart. Source: CW/X

Earlier, traders gave various BTC price bottom targets of interest, with these including the area around $50,000. Directly below $69,000, meanwhile, lies the key 200-week exponential moving average (EMA) support trend line.

BTC/USD one-week chart with 200EMA. Source: Cointelegraph/TradingView

Reacting, crypto entrepreneur Alistair Milne agreed with observations from longtime trader Peter Brandt. Bitcoin, the latter argued, was the victim of “campaign selling.”

“Agree with this take. Someone enormous is unloading to a deadline,” Milne responded on X.

The post likened the current sell-side pressure to when the government of Germany distributed its BTC holdings to the market, suggesting that coins were being “handed over to OTC desks who simply execute.” 

“For me it started 14th Jan,” he added.

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Coinbase Premium undercuts Liberation Day low

Nic Puckrin, CEO of crypto education resource Coin Bureau, likewise flagged “large selling” by whales during US hours.

Related: Bitcoin, crypto ‘winter’ soon over, says Bitwise exec as gold retargets $5K

As Cointelegraph reported, the negative Coinbase Premium, which measures the difference in price between Coinbase’s BTC/USD and Binance’s BTC/USDT pairs, highlighted the lack of overall US Bitcoin demand.

“The Coinbase Premium is the lowest it has been in over a year. It’s even lower than post liberation day tariffs,” Puckrin noted.

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He added that selling pressure would continue until the premium changed course.

Coinbase Premium Index. Source: Nic Puckrin/X

Charles Edwards, founder of quantitative Bitcoin and digital asset fund Capriole Investments, said that “OG” whales were behaving as if BTC/USD were at all-time highs.