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Ripple linked token rockets 18% as bitcoin breaks $70,000

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(Coinglass)

XRP staged a sharp rebound on Friday, rising about 18% over 24 hours to trade near $1.49 after a deep selloff a day earlier made it the worst performer among major tokens.

The move came as bitcoin briefly rose over $70,000 in U.S. morning hours, reversing Thursday’s sharp declines ahead of the weekend.

The bounce came after XRP collapsed to roughly $1.14 in the prior session, a move that triggered heavy liquidations and flushed out traders who had been leaning too hard on leverage.

Data shows short liquidations of roughly $26 million in the past 24 hours, compared with around $30 million in longs from earlier Thursday.

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That imbalance matters. It suggests the market wasn’t reacting to fresh bad news as much as it was mechanically clearing out bullish bets as prices slid. Once those positions were forced shut, selling pressure eased and XRP was able to rebound quickly.

The recovery also comes at an awkward time for XRP’s broader narrative. Ripple and its ecosystem have spent the past week pitching a more institutional future for the XRP Ledger, including plans for permissioned markets, lending and privacy tools.

Flare, a closely watched project trying to bring DeFi-style utility to XRP through FXRP, also expanded institutional access through custody firm Hex Trust.

But none of that helped XRP sentiment when the market cracked.

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Friday’s rally, then, looks less like investors suddenly buying into the “institutional DeFi” pitch and more like a classic crypto snapback: a steep fall, a leverage wipeout, then a fast rebound once forced sellers are gone.

Meanwhile, a ratio of bullish versus bearish bets on futures tracking XRP shows retail longs got rinsed, but big traders were leaning the other way.

On Binance, the overall account-based long/short ratio is 2.13 as of Friday, meaning there were about 2x more accounts positioned long than short. That’s usually a sign of crowded bullish positioning — lots of smaller traders expecting a bounce.

But at the same time, Binance’s top trader long/short (positions) is ~0.73, which means the biggest traders on Binance were net short.

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(Coinglass)

That split suggests XRP’s dump wasn’t random: it likely ran into a market where smaller traders were stubbornly long, while larger players were positioned to profit from a flush.

And once those longs were cleared, XRP did what it usually does after a wipeout: it snapped back violently, because there wasn’t much selling left.

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Crypto World

Oil Rose 3% to Open the Week: Here’s What Moved the Market on Monday

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Oil prices jumped more than 3% on Monday, pushing Brent crude above $116 a barrel. West Texas Intermediate (WTI), the US benchmark, climbed to roughly $102 per barrel.

The latest rise comes as the US-Israel war on Iran entered its fifth week with no signs of abating.

Oil Extends Its War-Fueled Rally 

Several escalatory developments over the weekend fueled the surge. President Donald Trump told the Financial Times he could possibly seize Kharg Island, the terminal that handles roughly 90% of Iran’s crude exports.

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The US president struck a mixed tone on diplomacy with Iran, saying he was “pretty sure” of making a deal with Iran but conceding that talks could still collapse.

Meanwhile, Iran’s parliament speaker warned that Tehran would “set them on fire” when American forces arrived and promised consequences for US-allied nations in the region. 

The oil price surge is far from over, according to market analysts, who warn that the prolonged closure of the Strait of Hormuz could drive crude even higher.

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“A scenario in which the Strait remains closed for an additional month would be consistent with oil prices rising towards $150/bbl and constraints on industrial consumers of energy supply,” Bruce Kasman, global head of economics at JPMorgan, said.

According to Bloomberg, US officials and Wall Street analysts have also begun discussing the possibility of crude reaching $200 per barrel.

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Asian Stocks Tumble, Crypto Feels the Pressure

The energy shock rippled across Asia. Google Finance data showed that Japan’s Nikkei 225 fell over 4.5%, while South Korea’s KOSPI dropped more than 4.3% as import-dependent economies repriced risk.

The volatility has spread to crypto markets, with asset prices dipping early in the morning before rebounding. 

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“The market briefly crashed just now — ETH dropped below $1,940 and BTC fell below $65,000,” Lookonchain reported.

Oil above $100 per barrel continues to pressure risk assets by fueling inflation expectations and delaying anticipated Federal Reserve rate cuts.

The post Oil Rose 3% to Open the Week: Here’s What Moved the Market on Monday appeared first on BeInCrypto.

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Lido DAO Mulls $20M LDO Buyback to Boost Token Price

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Lido DAO Mulls $20M LDO Buyback to Boost Token Price

Lido’s decentralized autonomous organization is considering a one-off $20 million buyback of its governance token to address so-called price dislocation, which is at “historically depressed levels” relative to Ether, according to the DAO. 

The proposal, submitted Friday, seeks permission to swap 10,000 Lido Staked Ether (stETH) tokens, currently worth $20 million from the DAO’s treasury for Lido DAO (LDO), arguing that LDO is undervalued.

“This is not a routine fluctuation. It represents one of the most significant dislocations between LDO’s market price and its underlying protocol fundamentals in the token’s history.”

A token buyback of this size could boost the price of the token, which has fallen roughly 96% from its all-time high. In November, a Lido DAO member pitched an automated buyback mechanism for LDO to improve the token’s price. However, that proposal hasn’t been implemented.

LDO’s change in price relative to ETH since 2024. Source: Lido DAO

Lido DAO pointed out that LDO is trading at a steep discount to Ether (ETH) at a ratio of 0.00016, roughly 63% below its two-year median.

This is despite the protocol holding the top spot of the Ethereum liquid staking market, with a 23.2% share of staked Ether, according to Dune Analytics data. The protocol’s dominance has even been flagged as a centralization risk to the network in previous years.

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Share of Ethereum network validators. Source: Dune Analytics

Related: Ethereum builders propose ‘economic zone’ to tackle L2 fragmentation 

LDO is currently trading at $0.30, down 95.9% from its $7.30 high set in August 2021, according to CoinGecko data. LDO’s $255 million market cap makes it the 141st largest token by value at the time of writing.

“That dislocation is not justified by a proportional deterioration in protocol performance,” Lido DAO said. 

Lido DAO proposes buying stETH in batches

Lido DAO proposed buying up to 10,000 stETH in smaller batches of 1,000 to buy LDO. 

Lido DAO said it would use limit orders or adopt a dollar-cost averaging strategy to avoid market volatility. 

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