Despite a modest dip to around $0.575 (guess nobody told the bulls that silence is golden), July’s rebound and the ecosystem’s stubborn might have set the stage for a glorious upswing. The whole scene has a whiff of “hey, we’re still alive,” mixed with the aroma of potential profits.
Investors, like eager patrons awaiting a theater premiere, are buzzing with optimism ahead of the SEC’s forthcoming status report on August 15, which may, at long last, curtain call Ripple’s saga of legal entanglement.
One might have dared to hope for a recovery, a blossoming of bullish spirits on the daily chart. But no! Fate, it seems, delights in such cruelties. Rejected, utterly rejected, at the very doorstep of the 50 EMA. Now, it sits dejectedly at $0.0000121, diminished by nearly 3% – a loss so slight it’s almost comical, yet so complete it’s… discouraging. The market, one observes, has lost all enthusiasm. It had dared to poke its nose above $0.0000118, to flirt with those mysterious EMAs, even… even *gasp*… attempt to show some buying pressure! Such boldness, only to be rewarded with disappointment!
This sudden drop in burn rate comes after a significant decrease in on-chain activity on the XRP Ledger 📊. It’s like people are suddenly not interested in playing the XRP game anymore 🤔. The number of XRP payments from one account to another has hit a two-month low of 727,329 📉. Yikes!
A structural shift is unfolding in Bitcoin’s [BTC] supply dynamics, and it’s about as predictable as a cat in a room full of yarn. 🐱
Bitcoin’s price action is sizzling like a hot potato right now as it sets its sights on $116,000. After bouncing back from the weekend’s price lows, the world’s largest cryptocurrency is flexing its muscles like a bodybuilder at a beach party. 🏋️♂️
Amidst this fervor, Anatoly Yakovenko, the architect of Solana’s dreams, sat with Kevin Follonier on the When Shift Happens podcast. 🗣️🎙️ With a voice steeped in conviction, he declared, “Mobile was my baby,” tracing his lineage back to Qualcomm, where the seeds of this endeavor were sown. “The chips,” he mused, “already whisper secrets of security, waiting to be harnessed for the crypto age.” 🤖🔐
But lo and behold, the tides are turning! Recent spectacles show XLM bouncing back with the grace of a diva re-entering the stage, fueled by the rush of eager investors throwing more coin at the good ship Stellar. It’s attempting to flip the script-perhaps even write a new, more glamorous chapter in its glamorous ledger.
Picture August 5th: Sui (SUI), ever the adventurous sort, tumbled 4.71%, rolling gleefully from $3.61 to a less glamorous $3.39. Compare that to the broader crypto market’s dainty 1.57% slip, or Ethereum and Solana’s almost-graceful little trip-ups under 3%. It’s as if Sui was determined to win the Misfortune Olympics, clutching the gold medal for “Biggest Splash.”
But guess what? On Friday, the USD finally decided to take a breather after some pretty disappointing US data. The pair ended up settling at around 1.1550, still holding onto some serious weekly losses. 🤦♂️