According to CoinMarketCap, the gossip mill of the crypto world, XRP’s trading volume has spiked 23% in the past 24 hours. It’s like someone spiked the punch bowl at a party where everyone was already feeling a bit tipsy.
Remember when Bitcoin was worth less than your morning latte in 2010? Fast forward to today, and it’s sitting pretty at over $100K, after a July ATH of $123K. That’s like turning your couch cushions into a mansion. 🏰💰
The goal? To reduce supply, boost scarcity, and reward long-term holders. But critics are asking: Where’s the safety net? If every fee is funneled into burns, what happens when the market turns? It’s like playing a game of Jenga with a 100-story tower. 🪦
In their September 1 Market Outlook, these financial wizards put it rather bluntly: “Closing below $98k on this timeframe would turn weekly structure bearish.” But don’t reach for the smelling salts just yet, for they also add, “Above $98k weekly structure is still bullish and therefore we should anticipate the formation of a higher-low.” Phew, what a relief! 🙌
only fees raked in from WLFI-controlled liquidity pools scattered across Ethereum, BNB Chain, and Solana will be incinerated. Community and third-party liquidity? Untouched, baby.
According to the ever-reliable data from crypto.news, XRP (XRP) was trading at $2.79, a modest 3.1% increase in the past 24 hours and a whopping 56% surge from its lowest point this year. 🚀
“Patience, my dear friends, patience!” exclaimed Daan Crypto Trades, a full-time trader and analyst, with a twinkle in his eye. “The first few days of the month are like a tempestuous sea, full of choppy waves and unexpected turns. But if you can weather the storm, the rewards might just surprise you.”
This Onramp, you understand, allows one to procure Pi with such pedestrian methods as Alipay, Maya, and even GCash! A convenience, certainly, for the faithful. It is touted as a breakthrough, a glorious gateway! But the charts… the charts tell a tale of woe! Sellers, like hungry wolves, dominate the marketplace, and in a mere six months, the poor token has surrendered over 80% of its former glory. One almost feels sorry for it… almost.
Ah, Bitcoin’s short-term holders have finally realized the cruel joke of their losses as STH MVRV dipped below 1. Meanwhile, long-term holders are sipping tea, calmly refusing to sell, and Seller Exhaustion hints that the market may be running out of people to panic. How delightfully predictable.
Derivative data, that most unreliable of prophets, reinforces the recovery in traction as Coinglass reported that DOGE futures volumes jumped 119% to $5.36 billion, while open interest fell 4.7% to $3.24 billion. A tale of two markets: one rising, the other retreating, like a man torn between heaven and hell. 🧨