Crypto World
HYPE Price Jumps 20% on Trump Hyperliquid US Signal
Hyperliquid’s native token surged more than 20% over 24 hours after United States President Donald Trump said regulators were working on a compliant pathway to make the decentralized trading platform available to American users.
HYPE traded around $62 immediately before Trump’s remarks and subsequently jumped as much as 16% to a 24-hour high of $72.28, according to CoinGecko. It later settled to about $70, up approximately 20% in the last day, with 24-hour trading volume reaching $1.4 billion.
“I understand that Mike is also working to bring Hyperliquid into the United States in a fully compliant and legal fashion,” Trump said during a Wednesday White House event, referring to Commodity Futures Trading Commission (CFTC) Chair Michael Selig. “Working very hard on that.”
The market reaction shows how the prospect of US access could reprice HYPE and publicly traded companies holding the token. However, neither the CFTC nor Hyperliquid has released a formal proposal explaining how US access would work, whether an application has been submitted or when a compliant service could launch.

Hyperliquid’s 24-hour price chart. Source: CoinGecko
$65,000 options bet on HYPE treasury firm raises eyebrows
Meanwhile, shares of Hyperliquid Strategies, a Nasdaq-listed HYPE treasury company trading under the ticker PURR, closed Wednesday at $9.39, up 30.4%, according to Yahoo Finance. Despite sharing the protocol’s name, the company said it is independent and not affiliated with Hyperliquid.
Roughly four hours before Trump spoke, someone reportedly paid about $65,000 for 719 PURR call options with an $8 strike price expiring in mid-October, according to CNBC. The contracts were purchased for approximately $0.90 each and were quoted at $2.45 by the close, valuing the position at roughly $176,000 and producing an unrealized gain of about $111,000.
Related: Rushed CLARITY Act vote could set legislation back, Gallego warns
Delayed market data derived from the Options Price Reporting Authority corroborates the unusually heavy activity in the contract. OptiView data showed 2,575 of the October $8 calls traded during the session, compared with just 67 contracts in open interest beforehand. Volume was more than 140 times the contract’s 30-day average.
The publicly available data confirms elevated trading but does not independently identify the buyer or establish that the reported 719-contract order was based on nonpublic information. There is no clear evidence of insider trading, and the CFTC had previously publicly disclosed a July 15 meeting with Hyperliquid Labs and Hyperliquid Strategies.
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Crypto World
Bitcoin Tops $70,000 Amid a Short Squeeze, but 3 Metrics Hold the Real Signal
Bitcoin (BTC) briefly traded above $70,000 yesterday for the first time since June 2. Short liquidations reached $2.74 billion over the past 24 hours.
The rally started with policy signals from Washington. Forced short covering then amplified the move, turning a macro catalyst into a cascade across derivatives markets. Now, a key question arises: Will the rally last?
What Drove the Bitcoin Price Surge?
Two key developments sit behind the price move. BeInCrypto reported that the Treasury will double long-end debt buybacks to at least $4 billion each.
Furthermore, President Donald Trump suggested that a sizable government purchase of Bitcoin has been discussed.
Those catalysts pushed the price into crowded short positioning. Liquidations then fed the move, because closing a short requires buying, which lifts the price and triggers the next tier.
CoinGlass data shows 172,202 traders liquidated over 24 hours. Shorts absorbed $2.74 billion of that total against $256.66 million in longs.
Bitcoin alone accounted for $1.42 billion. BTC has since eased to $69,305, up 7.5% over the past 24 hours.
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CryptoQuant Says Spot Demand Is Close to Turning
CryptoQuant flagged a recovery in spot demand before the rally. The 30-day apparent spot demand climbed from negative 206,000 BTC on July 23 to roughly negative 5,000. The metric now sits close to positive territory for the first time since February 26.
The firm said Bitcoin has historically posted gains when spot apparent demand shifts from negative to positive. Over the following 60 days, BTC recorded a median return of 18.1%, with such signals producing positive outcomes 78% of the time across independent, de-clustered events.
“Spot demand is the signal that works,” the report read.
This leaves Bitcoin at a potential inflection point. A shift toward positive spot demand could determine whether the latest rally develops into a sustained recovery or fades as the current momentum subsides.
Glassnode Points to Levels Bitcoin Has Not Reclaimed
Meanwhile, Glassnode places the Short-Term Holder cost basis at $68,500. Bitcoin trades above that mark. However, the True Market Mean sits higher at $75,800.
“For as long as price remains below the Short-Term Holder Cost Basis, on-chain valuation models will continue to treat the market as capitulating, a phase where new buyers accumulate with elevated conviction while the market remains structurally vulnerable to any adverse macro catalyst,” the firm said.
The Realized Profit/Loss Ratio adds a second brake. That metric reads 0.75, well under the 2 threshold Glassnode treats as evidence of a genuine shift.
“Until this metric reclaims the 2 threshold, any recovery should be treated as a local rally rather than a regime change,” it added.
Bitcoin’s recent move marks a significant recovery, but the on-chain data suggests the rally has yet to prove itself. A sustained move above key on-chain resistance, coupled with positive spot demand, would strengthen the case for a broader recovery. Until then, Bitcoin’s latest surge remains a promising but unconfirmed reversal.
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The post Bitcoin Tops $70,000 Amid a Short Squeeze, but 3 Metrics Hold the Real Signal appeared first on BeInCrypto.
Crypto World
BitGo Korea Secures VASP Registration for Crypto Custody
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Crypto World
Ripple’s $50B Valuation Keeps IPO Talk in Check
Ripple CEO Brad Garlinghouse struck a noticeably softer tone on the company’s IPO prospects at the Wyoming Blockchain Symposium, even as Ripple simultaneously runs a $750 million share buyback that pegs its private-market valuation at $50 billion.
The combination is telling: warmer language on going public, paired with a fresh vote of confidence in staying private, is closer to optionality than a policy shift.
- Buyback: Ripple is repurchasing up to $750 million in shares from investors and employees, with the tender open through the end of April.
- Valuation: The buyback values Ripple at $50 billion, a 25% jump from the $40 billion mark set in November 2025.
- CEO comments: Garlinghouse said Ripple has been happily private for a long time but is now more neutral on the IPO question, per Finbold’s account of his Wyoming remarks.
- No filing: Ripple has not submitted an S-1, announced a listing decision, or given any timetable.
Discover: The Best Token Presales
Why Ripple Keeps Buying Back Instead of Going Public with IPO
The current $750 million tender, first reported by Bloomberg, follows a $1 billion buyback attempt Ripple ran earlier at the $40 billion valuation that saw surprisingly low participation. Employees weren’t eager to sell shares while the crypto market was booming. That calculus has flipped: after a substantial market correction, shareholders now appear more willing to cash out.
The buyback also lands on top of a year of heavy capital deployment, including the acquisition of Hidden Road as Ripple expands well beyond its original payments footprint. In November 2025, the company raised $500 million from Citadel Securities at that $40 billion valuation. The same capital that gives Ripple room to fund growth without touching public markets.
Ripple itself now sits among the top ten most valuable private companies globally, alongside SpaceX and OpenAI, a bracket that makes an IPO a branding decision rather than a funding necessity.
Ripple President Monica Long has been the company’s most direct voice on the subject, and her position leaves little ambiguity about near-term intent.
“No plans for an IPO.”

The CEO’s Shift From ‘No’ to ‘Neutral’
Garlinghouse’s Wyoming Blockchain Symposium remarks describe a company that has been happily private for years but is now more open-minded about a listing than it used to be. Ripple has not filed with the SEC, and the years of regulatory uncertainty that once kept public-listing plans firmly on the shelf have only recently cleared enough for the topic to be discussed casually again.
Ripple also remains one of the largest single holders of XRP, with roughly 34 billion tokens sitting in escrow. It’s a position worth tens of billions of dollars that would factor directly into any future public valuation model.
This overlap between Ripple corporate balance sheet and XRP’s circulating supply is exactly why any concrete IPO signal, rather than a rhetorical one, would move markets well beyond the company’s own cap table.
The tender offer runs through the end of April, and participation levels relative to the underwhelming $1 billion attempt at $40 billion will be the first real data point worth watching. A strong take-up alongside continued private funding rounds would support the case that Ripple stays private indefinitely; a stall, paired with any formal filing signal, would be the actual trigger for repricing IPO odds.
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The post Ripple’s $50B Valuation Keeps IPO Talk in Check appeared first on Cryptonews.
Crypto World
Ripple CEO says 67M owners put crypto mainstream
Ripple CEO Brad Garlinghouse said cryptocurrency had moved beyond the fringes of American finance on Aug. 20, citing an industry-backed estimate that more than 67 million Americans own digital assets.
Summary
- 67 million Americans own cryptocurrency, according to an NCA estimate developed with Harris Poll research.
- Garlinghouse cited the estimate after attending a White House meeting with senior financial regulators Thursday.
- The survey questioned 10,000 existing cryptocurrency holders, rather than a representative sample of all adults.
- 63% of surveyed holders reported greater interest in using cryptocurrency during 2026 than during 2025.
- The SEC separately proposed two registration exemptions for certain cryptocurrency investment contract offerings this week.
Garlinghouse made the statement after attending a White House meeting with President Donald Trump, Securities and Exchange Commission Chair Paul Atkins, Commodity Futures Trading Commission Chair Michael Selig and cryptocurrency industry executives.
“Crypto isn’t a fringe industry,” Garlinghouse wrote on X. He also described cryptocurrency owners as an active voting group, although the cited research measured ownership and usage rather than voting intentions.
Ripple CEO cites expanding U.S. ownership
The 67 million estimate comes from the National Cryptocurrency Association’s 2026 State of Crypto Holders Report. The organization developed the research with The Harris Poll and released it in May.
The estimate represents roughly one in four American adults and an increase of about 12 million owners from the association’s 2025 figure. The Harris Poll similarly said cryptocurrency was becoming part of Americans’ regular financial activity.
The survey questioned 10,000 U.S. adults who identified themselves as current cryptocurrency holders between Feb. 12 and March 3. Researchers weighted responses using demographic categories and extrapolated them to estimate national ownership.
That methodology matters because many of the report’s detailed findings describe existing holders, not all U.S. adults. The survey therefore supports conclusions about how owners use cryptocurrency, but it does not establish that one quarter of every demographic or political group supports the industry.
Ripple also has a connection to the organization producing the research. Ripple committed $50 million to establish the National Cryptocurrency Association, and Ripple Chief Legal Officer Stuart Alderoty serves as its president. Those relationships do not invalidate the survey, but they provide relevant context for interpreting its findings.
Alderoty previously argued that 67 million American owners challenge narrow cryptocurrency stereotypes, pointing to participation across different ages, professions and income groups.
Surveyed holders report broader cryptocurrency uses
The report found that 63% of respondents were more interested in using cryptocurrency in 2026 than they had been one year earlier. Respondents reported using digital assets for investing, payments, transfers to family and friends, charitable donations and business activity.
The research also found changes in the gender profile of newer participants. Women represented 42% of people who first acquired cryptocurrency in 2025 or 2026, compared with 34% among earlier adopters.
Ownership was not limited to the highest income categories. The NCA said 90% of surveyed holders earned less than $500,000 annually, while 23% earned $75,000 or less.
These findings show diversity within the holder population. They do not prove that cryptocurrency has universal acceptance, nor do they measure losses, consumer complaints or attitudes among Americans who do not own digital assets.
Garlinghouse’s claim that cryptocurrency is mainstream is an interpretation of the ownership estimate. The underlying survey provides evidence of broad participation, but “mainstream” has no single statistical definition.
Washington faces tests of crypto’s political reach
Garlinghouse’s comments came as the administration pressed Congress to advance the CLARITY Act, a proposed federal framework for dividing cryptocurrency oversight between the SEC and CFTC.
The Senate is scheduled to face a procedural test on Sept. 15. The motion would need 60 votes and would only begin formal consideration, not approve the legislation. Ethics restrictions, stablecoin rewards and financial crime safeguards remain disputed.
As crypto.news reported, the CLARITY Act’s September vote faces weakening expectations as the November midterm elections reduce the Senate’s available legislative time.
The SEC is also moving independently. On Aug. 18, it proposed Regulation Crypto Assets, which would create tailored registration exemptions for certain cryptocurrency investment contract offerings.
One exemption would permit eligible offerings of up to $5 million over four years. Another would cover offerings of up to $75 million during a 12-month period, subject to disclosure and reporting conditions.
The SEC proposal remains open to public comment and is not yet binding. Congress’ Sept. 15 procedural vote will offer the next clearer measure of whether a large ownership base can translate into bipartisan support for permanent market legislation.
Crypto World
Tesla Preps Cybercab Launch As Soon As This Month; Shares Keep Sliding
The debut of Tesla’s Cybercab could happen as soon as this month. Tesla plans to start offering rides for employees in the robotaxi specific model in Austin, Texas, in coming weeks, before rolling them out to the public a few days later, according to The Information. The Cybercab is Tesla’s EV tailor-made for robotaxi rides. The model doesn’t have a…
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Crypto World
Crusoe, AI Data Center Developer And Coreweave Rival, Eyes IPO
Crusoe, a privately held AI data center developer and power provider working under contracts with OpenAI, Oracle (ORCL), Microsoft (MSFT) and GE Vernova (GEV), is in IPO talks with four Wall Street banks, Axios reported. But Crusoe rival CoreWeave (CRWV) plunged on Tuesday amid a sharp selloff for AI-driven and AI stocks. Denver-based Crusoe is meeting with Bank of America…
Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Crypto World
KEYS Stock: Keysight Technologies Posts Beat-And-Raise Report
Keysight Technologies (KEYS) late Tuesday crushed Wall Street’s targets for its fiscal third quarter and with its outlook for the current quarter. KEYS stock rose in extended trading. The maker of electronic design, emulation, and test equipment earned an adjusted $3.07 a share on sales of $1.85 billion in the quarter ended July 31. Analysts polled by FactSet had expected…
Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8
Crypto World
Michael Selig Calls Compute the Most Important Commodity as CFTC Seeks Comment
The Commodity Futures Trading Commission (CFTC) has requested public comment on compute derivatives contracts, its formal move toward overseeing a market that prices the computing power behind artificial intelligence.
The regulator announced the request on August 19, as the Chairman told a White House gathering that he wants the United States to dominate compute markets.
What the Agency Is Asking
The request asks about the size and liquidity of the compute cash markets. It also covers manipulation concerns, customer protection, and perpetual compute futures.
Comments will be accepted for 60 days once the notice is published in the Federal Register. The agency invited feedback on all aspects of compute markets, not just the topics it listed.
Michael Selig tied the exercise directly to competition with other countries over AI capacity.
“America cannot win the AI race without a robust derivatives market for compute…This request for comment is the first step toward establishing clear rules of the road for American compute markets,” he said.
He described compute as the commodity that will power what he called the intelligence economy, drawing a parallel to the industrial-era commodities that American exchanges once standardized.
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Why Washington Wants Compute Rules Now
Selig made the same argument at a White House event with President Donald Trump and crypto executives. He named Commerce Secretary Howard Lutnick as a partner in the effort and said some observers now describe compute as digital oil.
“I’m proud to be working with Secretary Lutnick and the Department of Commerce as well to make America the compute capital of the world. This may be the most important commodity of our day. Some call it digital oil. And America needs to dominate these markets to win the AI race,” he stated.
Exchanges have already moved ahead of the agency. CME Group and Silicon Data plan to list two contracts on October 5, pending regulatory review. The contracts will track indexes that measure hourly GPU rental costs.
“Each contract will represent a month’s worth of rent for the Nvidia H100, the chip central to today’s AI ecosystem, and the next-generation Nvidia Blackwell B200, respectively,” the notice read.
The outcome matters for crypto firms that now sell computing capacity. Several public miners, including MARA and CleanSpark, have shifted toward AI hosting revenue.
Whether the comment file produces rules before or after those contracts start trading is the question the next two months will settle.
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The post Michael Selig Calls Compute the Most Important Commodity as CFTC Seeks Comment appeared first on BeInCrypto.
Crypto World
Coinbase chooses Abu Dhabi as global hub for tokenized securities
Coinbase has secured regulatory permission in Abu Dhabi to establish an international tokenization hub that will support the issuance and custody of securities backed by underlying shares.
Summary
- Coinbase has chosen Abu Dhabi as its international hub for tokenized securities.
- ADGM has approved the exchange to arrange investment deals and provide custody services.
- The securities will be backed by underlying shares and can be held in digital wallets.
- The hub expands Coinbase’s existing Abu Dhabi operations, including Project Diamond.
- Kearney estimates tokenized GCC assets could approach $500 billion by 2030.
Coinbase said the Financial Services Regulatory Authority of Abu Dhabi Global Market has granted it Financial Services Permission to arrange deals in investments and provide custody services for the planned tokenized securities business. The approval places the U.S. crypto exchange inside ADGM’s regulated financial system as it builds infrastructure for issuing traditional assets on blockchain networks.
The securities registered and issued through the framework will be backed by underlying shares and supervised by the FSRA. Verified holders will receive economic rights tied to the assets, while certain shareholder rights, including voting, depend on vesting conditions attached to the digital securities.
Investors will be able to hold the products in digital wallets without opening a traditional brokerage account or establishing a correspondent banking relationship for transactions involving the securities. Coinbase said transfers will remain subject to sanctions screening, with assets capable of being frozen or seized at the wallet level when required.
“This is the most significant step we have taken yet toward building the infrastructure for a more open, more accessible global financial system,” Coinbase said when announcing the approval on Aug. 11.
Coinbase tokenization hub builds on Project Diamond
Abu Dhabi was already part of Coinbase’s institutional tokenization plans before the latest license. The exchange established Project Diamond as a platform for issuing blockchain-based financial instruments, initially concentrating on digital debt products for institutional users.
Project Diamond received in-principle approval from ADGM regulators before issuing its first debt instrument, a short-term discount note denominated in USDC and issued on Coinbase’s Base blockchain. The platform was initially available to registered institutional investors outside the United States.
Coinbase later expanded the infrastructure supporting the project. In December 2024, crypto.news reported that Project Diamond had integrated Chainlink’s Cross-Chain Interoperability Protocol, giving institutions access to cross-chain connectivity and verifiable data for tokenized assets.
The platform uses Coinbase’s institutional technology stack, including custody services, on-chain wallets and USDC settlement on Base. Peregrine, an ADGM-regulated entity operated by PSG Digital, was named as its flagship user when the Chainlink integration was announced.
Coinbase Institutional co-CEO Brett Tejpaul said ADGM’s decision to introduce a virtual asset regulatory framework in 2018 was an important factor behind the company’s choice of jurisdiction.
“No major financial center has yet built a framework that treats tokenized equities simultaneously as securities, blockchain-native tokens, and DeFi-composable assets,” Tejpaul said.
The latest permission moves Coinbase from institutional debt infrastructure toward a regulated structure capable of supporting tokenized securities backed by shares.
Abu Dhabi has opened regulated routes for tokenized stocks
Coinbase is entering an Abu Dhabi market where other financial and crypto companies have already received permission to offer blockchain-based investment products.
In March, Ondo Finance received approval for tokenized U.S. stocks and exchange-traded funds within ADGM. Its digital securities were admitted for trading through a Multilateral Trading Facility regulated by the FSRA.
The products were structured as equity-linked notes and provided exposure to U.S. companies including Amazon, Apple, Microsoft and Tesla. Their admission created another regulated route for investors outside the United States to access blockchain-based versions of traditional securities.
Institutional custody infrastructure has developed alongside those products. BNY launched Bitcoin and Ether custody services in ADGM in May through a collaboration with Finstreet Limited and the ADI Foundation, with the bank also planning to support tokenized assets and stablecoins.
BNY had $59.4 trillion in assets under custody and administration when the service was announced, bringing one of the world’s largest traditional custodians into Abu Dhabi’s regulated digital asset sector.
Coinbase itself has already started offering tokenized equities elsewhere. In June, the exchange launched tokenized shares linked to SpaceX, Nvidia, Google, Strategy and Bitmine, with the company saying the products were backed 1:1.
Users could buy, hold, trade and redeem the assets on-chain while receiving economic exposure to dividends associated with the underlying shares. Coinbase presented the rollout as part of its Everything Exchange strategy, which combines crypto with equities, commodities, lending, payments and other financial products.
UAE expansion separates tokenization and derivatives operations
The Abu Dhabi hub forms one part of Coinbase’s expansion across the United Arab Emirates.
Its tokenized securities and on-chain capital markets operations will be centred in Abu Dhabi, while the company is developing its global derivatives business from Dubai. Coinbase has described the two businesses as among its largest international projects outside the United States.
The company had been pursuing an Abu Dhabi regulatory presence for several years. In 2023, Coinbase was in discussions with ADGM’s FSRA about obtaining regulatory permission while expanding its international operations.
Project Diamond subsequently provided the company with its first operational route into regulated blockchain-based financial instruments in the emirate. The latest FSP extends that presence into arranging investment deals and custody connected to tokenized securities.
ADGM Chief Market Development Officer Arvind Ramamurthy said Coinbase’s decision represented an endorsement of the financial centre’s regulatory framework as institutions experiment with blockchain-based capital markets.
“As tokenisation becomes an increasingly important part of capital markets infrastructure, ADGM remains committed to supporting innovation that enhances market access, transparency and investor confidence, while upholding the highest standards of regulatory oversight,” Ramamurthy said.
GCC tokenization could approach $500 billion by 2030
Coinbase is setting up the hub as governments, banks and investment firms across the Gulf put more capital and infrastructure behind tokenization.
Consulting firm Kearney and tokenization infrastructure company Ctrl Alt estimated earlier this year that tokenized real-world assets across the Gulf Cooperation Council could represent close to $500 billion by 2030.
Their estimate covers several asset classes, with private markets, investment funds and bank deposits expected to account for a large share of potential tokenized assets. Commodities alone could represent about $14 billion of the regional market by 2030, according to the research.
Abu Dhabi-based tokenization company KAIO has also attracted institutional funding for the sector. In April, the company raised $8 million from investors including Tether, Systemic Ventures, Further Ventures and Nomura-backed Laser Digital.
KAIO operates under Abu Dhabi’s regulatory framework and has worked on bringing traditional investment products from asset managers including BlackRock, Brevan Howard and Hamilton Lane onto public blockchains through tokenized feeder funds. At the time of the funding announcement, the platform managed about $100 million in on-chain assets and had processed more than $500 million in transactions.
ADGM’s digital asset rules predate much of the current institutional activity. The financial centre introduced one of the first regulatory frameworks for virtual assets in 2018, creating rules for companies providing regulated crypto and blockchain services from Abu Dhabi.
Coinbase said its new permission gives the company the regulatory basis to arrange investment transactions and provide custody for its planned tokenized securities, while transfers involving the products will remain subject to ongoing sanctions screening.
Crypto World
XRP Explodes to a Monthly High: These Signals Hinted a Big Move Was Coming
Most of July and August were highly dull trading periods for the entire cryptocurrency market, with little to no movement, a lack of actual interest, and missing volume.
It all changed yesterday afternoon when the market was revived with major price rallies across all assets. Ripple’s XRP also exploded alongside its peers, but there could be more to its story.
The Story
The cross-border token finally broke decisively away from the $1.00 danger zone, surging by double digits to a monthly peak at $1.14 before it retraced slightly to the current $1.10. There are several reasons, besides the big one behind the market’s resurgence, that can be attributed to XRP’s uptick.
As reported earlier this week, whale activity picked up on several fronts. The number of transactions worth more than $1 million soared by 280% within a single day, reaching almost 40 compared with roughly 10 during each of the preceding two days.
Although this wasn’t necessarily an accumulation signal since large transactions can be buying, selling, or simply transfers, it followed another notable whale development in which market participants holding between 10 million and 100 million XRP purchased roughly 72 million tokens in 24 hours.
The token supply sitting on exchanges was also moving in the right direction for months, as over 240 million XRP left Binance, Upbit, and Coinbase between June and mid-August. These platforms’ combined reserves went down from roughly 5.36 billion to 5.12 billion tokens.
Last but not least, the overall network activity has risen lately, with the XRP Ledger recording almost 50,000 active addresses within 24 hours, the highest figure in over two months.
XRP Bears Caught Off Guard
XRP open interest had skyrocketed to $2.7 billion earlier this week, the highest since the October 2025 massacre. 75% of these positions were positioned long. However, that didn’t mean three-quarters of the actual capital was betting on higher prices.
Notional exposure remained balanced because every derivatives contract has both a long and short side. Perhaps more importantly, the actual trading flow leaned bearish. Around $375 million in 24-hour short volume was recorded compared with $304 million on the long side.
Popular analyst Bird also weighed in on the OI, indicating that when it surged between 2022 and 2024, XRP ultimately got wrecked. However, it all changed in November 2024.
“That time was different. OI exploded… but instead of price rejecting and leverage being wiped out, XRP broke out with it. A completely new trend began.”
Bird added that XRP spent the past few months getting “absolutely destroyed,” as prices capitulated, leverage was flushed, and sentiment deteriorated. OI built up quietly again, and XRP responded with a massive green candle.
The analyst admitted that “one green candle doesn’t confirm anything,” but believes the comparison to previous cycles looks less like the failed leverage spikes of 2022-2024 and “increasingly” more like November 2024 as long as XRP “keeps moving higher while OI remains healthy.”
The post XRP Explodes to a Monthly High: These Signals Hinted a Big Move Was Coming appeared first on CryptoPotato.
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