One must marvel at the irony: the SEC, though not entirely defunct, is barely more animate than a taxidermied bear. The EDGAR system, that digital repository of corporate filings, continues its mindless hum, while the human cogs who once reviewed these documents have been furloughed to their drawing rooms, leaving the machinery to churn unsupervised. A Kafkaesque tableau, indeed.
Ripple’s XRP, that fickle wretch of a token, did not escape the fashion of folly; it tumbled to its nadir since November 2024 (on most stalls of trade) at a touch above $1.50. Since that tumble, there hath been a modest recovery-now it sits beyond $1.60-but the sentiment remains draped in sombre velvet, bearish as a winter’s night.
Ripple (XRP) hit $1.5000, down 55% from its 2025 high. Ouch. Investors are crying into their lattes. Billions gone. But hey, at least they’ve got stories to tell at cocktail parties.
So, the selling pressure is sticking around like that one friend who never knows when to leave a party. Crypto ETFs closed the week under so much strain they might as well be in a yoga class for stress relief. Another wave of redemptions swept through the market, making it feel like the crypto world is on a perpetual downslide. But wait! Only XRP decided to play the hero and break away from the doom and gloom.
In a post that’s probably still breaking the internet, X Finance Bull pointed out that XRP’s utility stretches further than a yoga instructor after a double espresso. He gleefully highlighted $110 million in tokenized diamond transactions settled on the XRP Ledger. Yes, diamonds. Because nothing says “financial innovation” like turning rocks into tokens. Five diamond collections, no less, were tokenized through Ctrl Alt, which sounds like a keyboard shortcut for “get rich quick.”
Let us, with a touch of Turgenev’s irony, delve into this week’s crypto funding spectacle, as chronicled by the ever-vigilant Cryptofundraising data.
Remarkably, this zero-burn performance arrives scarcely 48 hours after a volcanic surge-over 500%-when 10,491,803 SHIB were dispatched to the eternal departed. That inferno, astonishingly, was accomplished in a single transaction, inspiring a chorus of hopeful whispers for an encore.
On X, Glassnode lays out a confluence of on-chain events supposedly justifying Bitcoin’s descent. They begin with the Spent Volume by LTH/STH metric.
From the technical abyss, we observe the Bitcoin price closing below the lower boundary of the Gaussian Channel-a statistical contraption of medians and deviations. Oh, the irony! This indicator, which once strutted like a peacock during bull cycles, now lies in the dust, its feathers plucked by the merciless hands of the market. As Ted (@TedPillows) so eloquently quoth: $BTC has dropped below its weekly Gaussian Channel. To be honest, this looks really bad.
Indeed, Ted, indeed. It looks as bad as a nose disappearing in a Gogol tale, never to be seen again.
Currently, our beleaguered XRP finds itself trading at a modest $1.70, down 2.75% in the past 24 hours, as per the ever-reliable sages at CoinMarketCap. If only it had a good sense of humor, perhaps it could laugh its way back up!
