Analysis Crypto by Thebittimes.Com

The XRP price plummeted 19% in the last 24 hours to trade at $2.21 as of 11:18 p.m. EST on trading volume that surged 352% to $25.5 billion. This comes as reports arose that Ripple Labs has moved 700 million XRP tokens into escrow, which means that the tokens are temporarily locked and cannot be used for trading.  The move is a strategic shield against potential declines in XRP’s value, as the overall cryptocurrency market spirals downward. 700M+ $XRP locked. 500M+ $XRP unlocked. @Ripple isn’t playing around. This feels like a liquidity test before something big drops. Are we about to witness history? 👀 — Hunter (@TheTeaPartier) February 2, 2025 XRP Price On A Sustained Downtrend The XRP price Analysis on the 4-hour chart shows a clear bearish breakdown following a prolonged period of consolidation within a falling wedge pattern. After failing to break above the upper resistance trendline near $3.10, the XRP price started trending lower, eventua...

Momentum around XRP has surged to new heights, doubling its market cap in just one week and capturing the attention of the global crypto community.  The token blasted past the critical $1 psychological level over the weekend, reaching an intraday high of $1.23 before settling at $1.15, after climbing as much as 97.21% in a week. XRP 1-week chart. Source: CoinMarketCap What’s more, the past week has seen XRP’s market cap leap from $33 billion to $66 billion, a remarkable feat that has reignited global interest in the digital asset, as per data retrieved by Finbold from CoinMarketCap. Picks for you Here’s why analysts think Dogecoin (DOGE) has more room to grow 17 hours ago Trading expert warns altcoins will bleed before going ‘much...

Crypto index fund manager Bitwise has officially filed for a spot XRP exchange-traded fund (ETF). “We can confirm this is a registration by us,” Bitwise Chief Investment Officer Matthew Hougan told The Block on Tuesday. “It is a registration of a trust entity in Delaware. We can share more details and comments tomorrow.” JUST IN: Bitwise files for spot XRP ETF. — Watcher.Guru (@WatcherGuru) October 1, 2024 According to a filing submitted to Delaware’s Department of State’s Division of Corporations on Monday, CSC Delaware Trust Company is listed as the registered agent. The filing was made even though a Ripple XRP ETF hasn’t been approved yet in the United States. After the SEC and Ripple Labs came to a settlement to end their long-lasting court case, many investors predicted that the door to XRP ETF approval was wide open. Thus, asset management firms like Bitwise who already operate Bitcoin and/or Ethereum ETFs are targeting XRP as the n...