In a pattern that has been rinsed and repeated countless times this year, crypto markets are crumbling as Bitcoin failed to hold support. The altcoins are still hopelessly tied to their big brother so any pain for it is magnified for them.
Over $20 Billion Exits Crypto Space Over the past 24 hours crypto markets have shrunk to their lowest levels for almost three months. As billions left the space total market capitalization plummeted to $245 billion. All gains since late May have now been wiped out and altcoins are in danger of returning to their crypto winter levels if the rout continues.
total market cap YTD – coinmarketcap.com According to Tradingview.com Bitcoin dominance is still at 71.5% despite a thousand dollar dump. This means that the altcoins have suffered greater losses today, many of them in double digit declines. Bitcoin’s intraday high to low marks a loss of around 9% however the pain is greater elsewhere on crypto markets.
Ethereum, which has seen prices eroding for the past two months, has capitulated below $170 in a 10 percent plunge overnight. A death cross on the four hour chart a few days ago is about to be repeated on the daily chart as the 50 day moving average drops closer to the 200 day MA. This is a major bearish indicator which signals continuation of the down trend.
Development work on the Ethereum network is still ongoing with six new upgrades planned in the Istanbul hard fork slated for mid-October. This has not prevented the bears dumping the asset in panic over big brother’s fall through support however.
There has been little love for XRP either as the Ripple token gets crushed back to a yearly low of $0.25. A lot of bad press and FUD has inspired little confidence in the world’s third largest crypto asset recently.
The rest are faring no better with double digit losses for Litecoin, Binance Coin, EOS, Monero, Cardano, Tron, Dash, Ethereum Classic, Tezos and Chainlink. There are only a handful of low cap altcoins surviving the purge today and they include Golem, SOLVE and HedgeTrade.
The mess has not been missed by industry observers with RT anchor, Max Keiser, commenting;
“#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go.”
#Bitcoin dominance climbs as alt-season fails to materialize and alts resume downward trek to oblivion. BCH and BSV have another 90% drop to go. pic.twitter.com/muSHYRh6H1
— Max Keiser (@maxkeiser) August 29, 2019
Time to Be Bullish on Altcoins? Some are clinging perilously onto hope however and see opportunity in the misfortune of many crypto assets. ‘WelsonTrader’ tweeted;
“Accumulating some alts within the next 24 hours, as I think we may see a bounce here! Bitcoin may also bounce at support around $9500-$9550! If we break below that, expect a blooody week!”
All eyes are on Bitcoin’s next move as the alts are bound to follow. At the moment it is also clinging perilously onto support around $9,450, but teetering on the edge of a deeper chasm.
The recent passage of the GENIUS Act introduced a new regulatory framework for stablecoins, such as Tether (USDT), drawing increasing attention from traditional and cryptocurrency firms.
Tether’s Regulatory Challenges And Rising Rivals With the stablecoin market growing from $120 billion in October 2023 to $288 billion as of August, Tether’s USDT continues to hold its position as the largest stablecoin.
However, the Motley Fool team has identified three emerging contenders that are poised to disrupt the company’s dominance and present significant competition.
Tether commands nearly 60% of the stablecoin market, but it has not been without controversy. In 2021, the Commodity Futures Trading Commission (CFTC) fined Tether $41 million for “misleading claims” regarding its reserves, which were allegedly not fully backed by US dollars.
Furthermore, Tether’s current reporting practices do not align with the requirements set forth by the recently passed GENIUS Act, which mandates stablecoin issuers to publish monthly disclosures about their reserves.
Notably, the stablecoin issuer only provides these reports on a quarterly basis, potentially opening the door for competitors to capture some of its market share, at least in the United States.
Among the most prominent challengers highlighted is USD Coin (USDC), which boasts a market capitalization of approximately $68 billion. Like Tether, USDC is a fiat-backed stablecoin; however, it has not faced any legal scrutiny regarding its reserves.
The issuer, Circle, has consistently published monthly attestations since USDC’s inception in 2018. The Motley Tool team asserts that this commitment positions USDC as Tether’s primary competitor, especially as regulatory compliance becomes increasingly crucial.
The competitive landscape is further complicated by regulatory developments in Europe. Under the European Union’s Market in Crypto-Assets Regulation (MiCA), stablecoin issuers must obtain regulatory approval and meet strict reserve requirements.
Circle has already achieved compliance with both USDC and its Euro stablecoin, EURC, while Tether has opted to withdraw from the European market entirely.
A New Contender With Ties To XRP Another contender is Dai, now rebranded as USDS, which differentiates itself by adhering to the principles of decentralization. Unlike Tether and USDC, Dai is managed by Sky, previously known as MakerDAO, a decentralized autonomous organization.
This structure allows anyone holding SKY governance tokens to participate in decision-making processes concerning Dai. Rather than being backed by fiat reserves, Dai is a crypto-backed stablecoin, relying on overcollateralized crypto loans.
Lastly, Ripple USD (RUSD) enters the fray as a smaller player with a market cap of around $667 million. Despite its size, the Motley Fool asserts that RUSD’s connection to XRP makes it a formidable competitor.
Ripple, the company behind XRP, has launched RUSD as part of its payment solutions for financial institutions, focusing on efficient cross-border transactions.
Additionally, RUSD has received regulatory approval from the New York State Department of Financial Services, which adds a layer of credibility and could help it gain traction in the market.
Despite the potential threat, Tether’s figures far surpass those of these three challengers. This suggests that the firm’s reign in the stablecoin market may continue for some time. One thing is certain, though: stablecoins are making a notable entrance into the broader financial landscape.
The daily chart shows the market’s total capitalization dropping toward $3.75 trillion. Source: TOTAL on TradingView.com Featured image from DALL-E, chart from TradingView.com
The Madras High Court has ruled against WazirX redistributing user’s XRP holdings following its 2024 hack, declaring that cryptocurrencies qualify as property under Indian constitutional law.
Summary
WazirX was barred from reallocating 3,532 XRP tokens belonging to an unaffected user under its “socialisation of losses” plan following a $234 million hack. The court rejected WazirX’s argument that its Singapore-based restructuring automatically applied to Indian users, asserting domestic jurisdiction over crypto holdings accessed in India. The court declared that cryptocurrencies qualify as property under Indian law and can be held in trust. WazirX barred from redistributing user’s XRP under its “socialisation of losses” plan The Madras High Court, one of the High Courts of India, has ruled that cryptocurrencies qualify as “property” under Indian constitutional law and are capable of being held in trust. The ruling came in a case involving user holdings on the Indian-operated platform of WazirX, following a major security breach in 2024.
The court heard the plea of an individual whose account held 3,532 XRP tokens that were unaffected by the hack but were set to be diluted under WazirX’s proposed “socialisation of losses” plan. The plan, approved in Singapore as part of a restructuring process, would have spread the losses from the July 2024 hack—reported at approximately $234 million —across all users, including those whose assets were unaffected.
WazirX argued that its Singapore-based restructuring governed its Indian users, but the court disagreed. Justice N. Anand Venkatesh held that the petitioner’s crypto holdings were held “by means of the WazirX platform” in India, and thus the court exercised domestic jurisdiction.
He directed the Indian operator, Zanmai Labs Pvt Ltd, to furnish a bank guarantee corresponding to the value of the frozen XRP while the matter is resolved. The court emphasised that the tokens must remain with the user and cannot be reallocated without proper legal basis.
The Madras High Court’s decision arrives amid India’s slow progress toward comprehensive crypto regulation. While the country enforces a 30% capital gains tax and 1% tax TDS on crypto trades, it still lacks legislation defining ownership rights, investor protections, or exchange accountability.
By treating crypto as property in this decision, the court has provided a crucial legal benchmark that strengthens investor protections and could guide the development of future regulatory frameworks.
The court affirmed that the users' XRP remains their property, reinforcing that cryptocurrency is legally recognized as a protected asset.
An Indian court has blocked crypto exchange WazirX from reallocating a user’s XRP to cover platform losses. The Madras High Court granted “interim protection,” affirming that the user’s digital assets remain their distinct property under Indian law. The ruling marks a key moment in the country’s evolving crypto jurisprudence.
The case stems from WazirX’s plan to apply a “socialization of losses” model after a $235 million exploit in July 2024. The exchange proposed spreading losses across all users, including those who held cryptocurrencies unrelated to the stolen ERC-20 tokens.
Court Upholds Crypto Ownership Rights Justice N. Anand Venkatesh ruled that the loss-sharing approach should not affect the XRP holder. The user’s 3,532 tokens, valued at around $9,400, were acquired long before the hack. The judge held that XRP and ERC-20 assets are separate in nature and cannot be grouped together for recovery purposes.
The court further clarified that the user’s XRP remains their property and cannot be diluted to offset the exchange’s operational failures. In doing so, it reaffirmed that cryptocurrency qualifies as a form of property capable of being owned and protected under existing law.
To enforce this ruling, the judgment also invoked the Arbitration and Conciliation Act, ensuring the user receives legal safeguards until arbitration proceedings are concluded. WazirX must either deposit 956,000 rupees (about $11,500) in escrow or provide a bank guarantee for the same amount as interim protection.
WazirX Resumes Amid Key Legal Shifts The Madras High Court decision comes as WazirX seeks to rebuild its operations following the prolonged suspension stemming from the 2024 breach. The platform resumed operations last week after the Singapore High Court approved its restructuring plan, with backing from nearly 95.7% of participating creditors.
WazirX previously attributed the exploit to North Korea’s Lazarus Group, which exploited a weakness in its multi-signature wallet setup. The hack forced the exchange offline for 16 months, prompting widespread debate about accountability and asset security in India’s crypto market.
You may also like: XRP’s Price Could Explode to $8, But This One Zone Is Holding It Back 5 Reasons Why Bitcoin Just Crashed Below $63K as Liquidations Top $500M XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity Against this backdrop, legal observers see the latest ruling as a signal that Indian courts are beginning to recognize digital assets as protected property. The case follows a Bombay High Court decision rejecting similar loss-sharing measures by Bitcipher Labs. Notably, these developments could shape future disputes as India moves toward clearer crypto regulations.
Somewhat unsurprisingly, a court in India recently ruled in favor of an XRP investor against crypto exchange WazirX and provider the trader with interim protection by preventing the digital assets platform from reallocating the customer’s XRP holdings. In an order issued this past Saturday (on October 25, 2025) by the Madras High Court, Justice N. Anand Venkatesh ruled that WazirX would not be able to redistribute a user’s XRP assets (valued at around $9,500 at current market prices) to absorb platform losses after a massive $230 million hack / security breach in July of last year.
As a key aspect of its ongoing restructuring process, digital assets exchange WazirX stated that it plans to move forward with a “socialization of losses” plan, asking clients, including customers that don’t have any ERC-20 tokens, to simply “absorb” a certain portion of losses in their portfolios.
The court judge in India said that the proposed plan must not apply to the user maintaining XRP tokens in their account, as the pilfered crypto-assets were ERC-20 tokens that are considered to be fundamentally different types of virtual currencies.
Unfortunately, this type of socializing of losses recovery strategy must not even be considered for any customer funds lost due to any hack or situation out of their control. This practice must not be encouraged or somehow become normalized or thought of as standard practice. Should these types of approaches persist, then customers will lose trust in crypto exchanges in general.
Notably, the Indian court’s recent ruling focused on basic property rights, noting that the said client’s XRP holdings, which were acquired well before the hacking incident, remain rightfully theirs and, therefore, must not get diluted just to make up for the exchange’s own shortcomings.
The court also stated that crypto holdings are considered property under the existing legal and regulatory framework, as they are capable of “being possessed” by an individual or organization.
The latest ruling determined that the customer is rightfully entitled to a temporary form of protection as per the nation’s current Arbitration and Conciliation Act. The court judge has now instructed the management at WazirX to provide a bank guarantee of around $11,500 in local currency. Alternatively, they can deposit the same funds in an escrow account as temporary protection for the client, while awaiting arbitration on the matter.
As reported this past week, WazirX resumed its crypto trading operations following Singapore’s High Court giving the green light to its restructuring phase, which is said to be supported by the vast majority of active creditors.
The damaging security breach this past year and hack resulted in a extended platform suspension. As widely reported, the exploit was carried out by North Korea’s Lazarus Group, which had targeted a certain vulnerability in the service provider’s multi-sig crypto wallet infrastructure.
Clearly, WazirX’s plans to “socialize” the losses is a sign of poor judgement and decision-making. But unlike more prominent and systemically significant exchanges like ByBit, which had also been hacked, WazirX simply does not have the resources or industry backing to do much better. However, the management at the exchange has also tried to avoid accountability as much as possible, as indicated in the general manner in which they have communicated since the incident.
India has taken a big step in crypto law. The Madras High Court has ruled that digital assets like XRP count as legal property. This means crypto is now treated like something you can own and protect under the law. The case began after a user on WazirX, a crypto exchange, filed a complaint. Her account held over 3,500 XRP, worth about $9,400. After a major hack at the exchange in 2024, WazirX froze many accounts and planned to spread the loss across users. She argued this was unfair and violated her rights as an owner.
“Madras High Court recognized cryptocurrencies as legally protectable property, upheld Indian jurisdiction over assets held by Indian investors”https://t.co/NUAqUeZI7w pic.twitter.com/behzyK1Hxc
— Vijay Shekhar Sharma (@vijayshekhar) October 25, 2025
Court Rules Crypto Is Property The court agreed that the user’s XRP was her property. It ordered WazirX to protect the funds and provide a bank guarantee while the case continues. The judge made it clear that crypto is something you can hold, control, and trust, even though it is digital.
This is a major first for India. The ruling gives crypto owners legal protection. In simple terms, if you own crypto on an exchange, the exchange cannot use your assets to cover its losses without legal grounds.
What It Means for Indian Investors This ruling brings clarity for crypto users in India. For the first time, a court recognized digital coins as personal property. It gives investors more confidence and may push lawmakers to build clearer rules for crypto trading and protection.
The decision also puts India in line with places like the United States and the United Kingdom, where crypto is also treated as property in certain cases.
🚨 Urgent: Indian Exchange Hacked 🚨@WazirXIndia India’s Safe Multisig wallet on the $ETH network has been compromised.
A total of $234.9M has been moved to a new address. Each transaction’s caller is funded by @TornadoCash. pic.twitter.com/13NrHkQTaZ
— Cointelegraph (@Cointelegraph) July 18, 2024
Impact on XRP and Crypto Market Legal certainty is good news for XRP in India. More trust may bring more users and trading activity. Exchanges may also update their rules to protect user assets better.
India is still shaping its crypto policy. But this court ruling is a key moment. It shows that digital assets like XRP are not just tokens online, they are real property with legal rights.
Disclaimer The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.
Solana-based Drift Protocol has suffered the largest exploit of 2026 to date, losing nearly $300 million in a “highly sophisticated operation” that has raised concerns about the growing threat of human-targeted attacks in the crypto space.
Solana DEX Loses $285M On April Fool’s Day On Wednesday, Solana-based decentralized exchange (DEX) Drift Protocol was the victim of an exploit that stole hundreds of millions of dollars from its vaults. After online reports flagged unusual on-chain activity yesterday afternoon, Drift’s official channels confirmed the attack, quickly suspending deposits and withdrawals.
Drift Protocol confirms the attack. Source: X According to reports, the attack lasted less than 20 minutes and stole around $285 million in multiple assets, including USDC, JPL, USDT, JUP, USDS, WBTC, and WETH, from nearly 20 vaults. This marks the largest crypto exploit of 2026 to date, and one of the largest hacks in the industry, just above WazirX’s $235 million hack.
The hack wiped out half of the Solana-based project’s total value locked (TVL), which fell from roughly $550 million to $252 million, per DeFiLlama data. Drift protocol’s token, DRIFT, also plunged, retracing nearly 40% over the past 24 hours.
Within hours, the exploiter had swapped $270.9 million into USDC, bridged them from Solana to Ethereum via the CCTP TokenMessengerMinterV2, and purchased 129,000 ETH, splitting them across multiple wallets.
In a Thursday post, Drift shared the details of the incident, affirming that “a malicious actor gained unauthorized access to Drift Protocol through a novel attack involving durable nonces, resulting in a rapid takeover of Drift’s Security Council administrative powers.”
Solana’s durable nonces are an advanced mechanism that allows transactions to bypass the typical short expiration date of regular transactions. This enables users to pre-sign transactions for future execution, offline signing, or complex multisig workflows.
“This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution,” the post continued.
Malicious Actors Targeting Humans, Not Smart Contracts The Solana-based DEX emphasized that the exploit was not the result of a bug in Drift’s programs or smart contracts, noting that they found no evidence of compromised see phrases either.
“The attack involved unauthorized or misrepresented transaction approvals obtained prior to execution, likely facilitated through durable nonce mechanisms and sophisticated social engineering,” the project underscored.
Lily Liu, President of the Solana Foundation, addressed the incident, asserting that it is a blow to the whole Solana ecosystem. Liu pointed out that “Smart contracts held up. The real targets now are humans: social engineering and opsec weaknesses more than code exploits.”
Ledger CTO Charles Guillemet linked Drift’s attack method to Bybit’s $1.4 billion hack, which was attributed to North Korean hacking groups. As he explained, the attackers likely compromised several machines belonging to multisig signers through long-term infiltration and misled operators into approving the malicious transactions.
This modus operandi is similar to the Bybit hack last year, widely attributed to DPRK-linked actors. The pattern is becoming familiar: patient, sophisticated supply-chain-level compromise targeting the human and operational layer, not the smart contracts themselves.
Guillemet affirmed that the incident is “yet another wake-up call for the industry” to raise the bar on security. “Ultimately, security is not just about code audits. It’s about giving operators and users the right information at the right time, so they can make informed decisions about what they sign,” he concluded.
Solana trades at $76 in the one-week chart. Source: SOLUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Months ago, Binance announced its Binance US and began to accept deposits from US citizens on September 18, starting with Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and USDT.
Binance US later grew this number to 19 and according to a recently published blog post written by Binance US CEO Catherine Coley, the company is now considering adding another 18 tokens to those already listed.
In the post, the exchange suggests that its decision to expand its list of supported tokens is borne out of the need to have “the most diverse selection of high-quality digital assets, without high fees.”
This expansion is bound to ensure that all of the exchange’s customers are not denied access to the bigger market with a lot more tokens and competition, ensuring that customers can trade assets with “true utility.”
The tokens currently been considered are Celer Network (CELR), Decreed (DCR), Enjin Coin (ENJ), Fantom (FTM), Icon (ICX), IOST (IOST), Komodo (KMD), OmiseGo (OMG), Harmony (ONE), Ontology (ONT), Ren (REN), Status (SNT), Theta (THETA), TomoChain (TOMO), Tron (TRX), NEM (XEM), Tezos (XTZ), and Hedera Hashgraph (HBAR).
The announcement also adds a reminder that all new users will get a $15 bonus when they sign up and will be able to trade free of charge for 30 days as it has been doing since the launch. Because Binance US is unavailable in some US states, the announcement also intimates that the platform is working on expanding access to the states that do not have Binance US access.
On the issuance of these tokens, Coley suggests that the company will take whatever measures it deems fit, to protect against fraud:
“Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binanace.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.”
Coley then concludes by asking the public to do “digital homework” before any decisions are made suggesting that customers are to not only learn about the prospective assets but also about methods being used by Binance.
Bitcoin is on the move again, heading north. The largest cryptocurrency is recording impressive gains over the last 24 hours, and it even touched $8,000 before retracing to the current level of $7,900.
Just yesterday, BTC was trading around $7,300, and, in a few positive candles, surged with almost 10%. However, as Cryptopotato reported, the $8,000 mark served as a significant resistance line, which also contains the 100-days moving average, and BTC couldn’t break it, yet.
BTCUSD 4h Bitstamp. Source: TradingView The recent price increase is spreading among most of the altcoins as well. This reduced Bitcoin’s market dominance slightly, and it now stands at 68.1%. Ethereum has been mostly in the green since the start of this year and is at $145 now.
Ripple, being listed on Binance Futures, is the biggest gainer within the top 10. Bitcoin Cash, Litecoin, EOS, and Monero record similar gains of around 2.5%, while TRON and Cardano are up by 5% and 6%, respectively. The recent move up brought the total market cap to be over $211 billion.
Total Market Capitalization: $211 B | Bitcoin Market Capitalization: $144 B | Bitcoin Dominance: 68.1%
Major Crypto Headlines Qatar Blocks Cryptocurrency Services Throughout The Gulf. Qatar’s Financial Center, serving as the country’s regulatory authority, has recently issued a blanket ban on cryptocurrency-related services within its borders. Additionally, it affects “anything of value” that could substitute fiat currencies.
South Korean Commission: Korean Firms Should Be Allowed To Launch Bitcoin Derivatives. A new document coming from South Korea says that the government is considering to list Bitcoin directly on the Korea Exchange (KRX), which could lead to Bitcoin derivatives in the near future.
You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Bitcoin Price Crashes Below $60K as Strategy’s MSTR Plunges 10% Bitcoin’s Network Is Booming Even as Prices Remain Below Record Highs Ripple Surges 10% As Binance Futures Adds XRP/USDT Perpetual Contracts. As of yesterday, Binance Futures added the third-largest cryptocurrency in its portfolio of perpetual contract trading pairs. As a result, XRP has pumped with over 10% within the last 24 hours.
Significant Daily Gainers and Losers Centrality (26.56%) In a predominantly green market today, CENNZ rises above all coins in the top 100 at the moment. It surges with over 26% to just shy of $0.1 against the dollar and with 21% against BTC to 1251 SAT. In a series of videos, the company’s tech executives have recently been talking about Centrality’s developments.
DigixDAO (10.87%) DigixDAO is next as the second most impressive gainer in the last 24 hours, with almost 11% to $20.36 at the time of this writing. The price records a 6% incline against the largest cryptocurrency to 0.0026 SAT. The company recently published a new incentive, saying that if investors hold 10 DGX for ten days, they will receive 0.44 as a reward.
Synthetix Network Token (-16.75%) SNX stands today on the other way of the scale with a severe 17% drop against the dollar to $0.90. The decrease against Bitcoin is even more significant at over 20%, and SNX/BTC trades at 11468 SAT. Interestingly enough, the popular U.S.-based cryptocurrency exchange, Coinbase, recently published a report regarding DeFi that included Synthetix, as well.
Data suggests retail investors likely support 40-60% of the XRP price floor by holding onto their tokens and refusing to sell.
A well-known XRP community figure and music artist, MC Solar Wind (MCSW), recently assessed how much retail investors support XRP’s current price level. He estimated that individual holders likely account for about 40% to 60% of the asset’s price floor.
Key Points Retail investors likely support 40-60% of XRP’s effective price floor through holding behavior. Around 16 billion XRP sits on exchanges, representing 26% of the 61.68 billion circulating supply. Of 7.8 million activated wallets, 82% hold 500 XRP or less, confirming the dominance of retail investors. Community narrative and belief influence whether supply stays locked or returns to market, affecting XRP’s price floor. XRP On-chain Data Confirms Retail Influence MCSW noted that XRP is currently in a specific phase. As part of his assessment, he estimated that around 15% to 20% of the total supply sits on exchanges, mostly involving retail deposits.
He also pointed out that ETF exposure remains small, at roughly 1% of total supply, and noted that these products are still largely made up of non-institutional participants. In addition, he highlighted that the network has between 7 million and 8 million activated wallets, many of which belong to smaller holders.
Actual on-chain data confirms these claims. Specifically, exchange balances show that about 16 billion XRP is currently held on trading platforms. This represents nearly 26% of the circulating supply, which stands at 61.68 billion tokens.
Additionally, across six ETF products, total holdings amount to approximately $1.1 billion worth of XRP. This equals roughly 1.2% of the asset’s total market capitalization. This confirms that institutional exposure through ETFs remains relatively small compared to the broader market.
The XRP Ledger currently has about 7.8 million activated wallets. Out of these, roughly 6.4 million wallets, or 82%, hold 500 XRP or less. Meanwhile, there have been multiple transfers to self-custody and a growing number of long-term holders. While this does not directly push prices higher, it helps limit downside pressure.
Retail Supports 40-60% of XRP Price Floor Considering these estimates, MCSW concluded that retail investors likely support 40% to 60% of XRP’s price floor. He clarified that this support comes mainly from holding, not from continuous buying. When a large number of holders choose not to sell, it reduces available supply and strengthens price stability.
XRP Market Structure | MC Solar Wind He also noted that price still moves based on activity at the margins. Specifically, market makers, large investors, and ETF inflows have continued to influence short-term price changes.
However, when a large portion of the supply remains inactive, this changes the structure of the market. MCSW stressed that XRP currently represents a market where price movement at the edges is relatively thin, while a strong base supply remains locked, which shows retail influence.
How Community Narratives Influence Investor Sentiment MCSW also discussed how community narratives have determined price behavior over time. He called attention to “riddle” discussions from community figures. According to him, these ideas and interpretations have acted as a kind of cultural link within the XRP community.
He explained that not everyone takes these narratives literally, but they have helped maintain attention and belief. Over time, this has influenced whether people continue holding their XRP or decide to sell.
Speaking further, MCSW compared XRP with other major crypto assets. He said Bitcoin and Ethereum have mostly moved into a stage where institutions dominate. In those markets, ETFs, staking, and corporate investments now mostly influence price movement, even though retail investors built the early base.
On the other hand, assets like Solana and Binance Coin still rely on retail activity. However, the activity comes more from usage, such as DeFi, meme trends, and growing ecosystems, instead of simple long-term holding.
XRP In a Transition Phase MCSW said XRP sits between these two ends. Notably, retail holding still plays an important part, but the asset is moving toward a future where institutional use could take over.
The community figure said XRP currently lies within a bridge phase. Specifically, retail investors still hold a large share of the supply, while institutional involvement continues to grow but has not yet become dominant.
He added that if XRP reaches large-scale adoption, especially in areas like cross-border payments, liquidity demand, and financial integration, the price will eventually depend on real usage instead of belief. In this case, higher price levels, including $20 and beyond, would come from actual demand, not narrative.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
The prices of many altcoins dropped significantly post the market crash on 12 March. However, many are still optimistic that the coins will put up a good show through the course of 2020. Cardano’s Charles Hoskinson, for instance, is of the opinion that Cardano will outperform Bitcoin, Ethereum, XRP and every other blockchain in the industry by the end of 2020.
Cardano
There might be a lot of positive sentiment around Cardano, but one look at the coin’s price chart might suggest otherwise.
Cardano has been trending downwards since 13 February. The coin saw another major drop on 7 March [65% drop], a movement that continued following the market crash on 12 March. However, the coin rose up within 3 days by 64% and it has since, been maintaining the support at $0.02.
There is a symmetrical triangle pattern being formed in the above chart, a development that indicated that the price might break out in either an upward or downward direction. However, the Awesome Oscillator indicator resting above the zero line with green bars confirmed an upward breakout.
The 46th ranked coin on CoinMarketCap had a good start at the beginning of 2020. As seen in the chart above, there was an upward trend seen; however, following 12 March, the price has been on a downward run as it fell by 39% over a period of seven days. Furthermore, the Bollinger Bands appeared to be contracting, a sign that there might be lower volatility levels over the coming days.
Kyber Network’s[KNC] price has been on the rise since the end of December 2019. The network also experienced significant growth in transaction volume, and this might be the pre-effect of the major protocol upgrade scheduled for Q2 of 2020. Looking at the above price v/s volatility chart, it can be seen that the price has been rising upwards since Jan 1, although it experienced a slight glitch post the crash. The volatility levels are also low. Investors seem to be believing in the long-term potential of KNC.
Press time price:$0.434452
Market Cap: $78,163,694
24-hour Trading Volume: $28,299,657
MakerDAO, the “decentralized” bank, went through a mass liquidity crisis. But Maker’s problems extend beyond a single shock—centralization left them doomed from the start.
The 2008 DeFinancial Crisis Have you heard this story before:
Bank finances its investments with an asset, provided by customers. Bank uses those assets to back something else, based on people’s confidence in the collateral. Major turmoil grips the market and the underlying asset becomes unstable. Suddenly, people want their money back. Bank offers some other unbacked guarantee instead to fill the gap, allowing them to profit. Everyone loses, except the bank. The end. Does this sound like something from 2008?
Well, in fact, this story happened just last week. MakerDAO went through its own liquidity crisis. Simply swap ETH for mortgages, DAI for mortgage-backed securities, and USDC for credit default swaps.
Don’t believe me? Maker’s own advertising compares the platform to mortgage-backed loans:
Source: MakerDAO Financialization is a virulent mindset, and MakerDAO is sick with it. Take, for example, the growing evidence of the Maker Foundation’s participation in their own debt auctions. Even if they’re “priming the pump,” such behavior reeks of the same sort of share inflation seen on Wall Street.
The 1% Stands to Benefit from Maker It’s important to ask who benefits from Maker’s success to see where the incentives are. In reality, only a few lucky wallets will benefit from an increase in MKR’s value.
This is evident based on the major tokenholders. Between the MKR Development Fund and primary voting contracts, the top 25 wallet addresses own over 99% of all existing tokens. To make matters worse, the anonymous nature of blockchains makes it difficult to hold these parties accountable.
Though, it is possible to piece together who holds the bags: Dragonfly Capital Partners and Paradigm have acquired a total $27.5 million in MKR—5.5% of global supply. Polychain Capital, a16z and 1confirmation are a few of the other funds who funded MakerDAO.
Advertisement
These funds would like to say they’re helping to build the future of DeFi, but their presence makes the decentralization of the platform questionable. Most crypto enthusiasts don’t have millions to throw around. And, for context, Bitcoin didn’t need venture capital.
Major investors, of course, want their millions protected. So, to stabilize DAI, Maker opened their vaults to USDC. Why is this problematic? USD Coin is a permissioned and censurable asset, which puts the platform at the mercy of governments. May as well back DAI with fiat.
Dai Only works, Until It Matters Maker’s promises are meaningless when USDC can be frozen at the discretion of Circle’s global blacklist.
In the event that DeFi becomes a disruptive force, and financial statutes are enacted to outlaw it, would Maker—and anyone else relying on them—survive collapse? Or, maybe MakerDAO would get sucked into the vortex of traditional finance, making it no better than old institutions it originally sought to replace.
In short, MakerDAO’s “decentralized autonomous organization” is not decentralized, nor autonomous, nor organized. In their desperation to save their platform, its administrators have entirely abandoned the promises that originally drew crypto enthusiasts to their model.
The admins and their supporters would, of course, argue that what they’re doing works. Of course it does. Traditional finance is already proven, and it works—in the short term.
However, in the long run, it’s only a matter of time before abuse takes over the system and brings things crashing down, just like in 2008.
MakerDAO Is Centralized Finance If it isn’t stopped, the same collusion and rampant abuse on Wall Street will pervade DeFi.
By stabilizing their coin with fiat, MakerDAO has signified that they’ve given up. If people in DeFi wanted dollars they would have purchased Treasury Bonds.
Now, MakerDAO’s only innovation has been creating a “bank-on-the-blockchain.” And, as other traditional financial firms consider building their own networks, it stands to reason that Maker’s current path won’t lead to much success.
In the end, people shouldn’t waste their time bailing out MakerDAO when more promising paths to decentralization still exist.
There Is Another Way to DeFi There are several examples of projects doing it right. Kava is a DeFi platform with similar lending facilities to MakerDAO, but it offers loans on a wide range of collateral, including Bitcoin, Binance Coin, and XRP. Notably, the Kava platform is a purpose-built blockchain designed to handle hyper-volatility and intense liquidity events, the same issues that are currently causing problems for MakerDAO.
Other self-stabilizing tokens are being built without the obfuscated centralization of DAI. AMPL, for example, with its internal inflation protocol, allows for an internally regulated economy with less risk of meddling from executives.
This kind of creativity is exactly what DeFi needs. The field will live and die by its tools, and shoddy imitations of current finance won’t do.
Banking, by definition, requires a certain level of administration. Banking is flawed because human discretion is flawed. The boom and bust cycle won’t end until the human component is mitigated.
DeFi allows for this kind of future. More creative, self-governing code can change the face of finance. Players from Facebook to Goldman Sachs understand this. Unfortunately, they’re attempting to pollute the space with “x-on-the-blockchain” projects instead of tapping into the transformative promise of blockchain technology.
In all, MakerDAO’s thinly veiled attempt to make a “bank-on-the-blockchain” is just another vacuum of the imagination. There is another way. Instead of letting this define DeFi, people should make one simple demand: No banks and no gatekeepers.
This time, we don’t have to wait for another collapse and another bail out. It’s possible to use technology to create something entirely new, the world is simply waiting for the right people to make it happen.
This sponsored guest post was brought to you by Ampleforth, Crypto Briefing’s preferred DeFi partner. Recognition due to co-author Andrew Prensky, with contributions from Richy Qiao.
Disclosure: This is sponsored content. It does not represent Crypto Briefing's editorial views. For more information, see our Editorial Policy.
PANews reported on June 2nd that, according to Decrypt, following the CFTC's approval of Bitcoin perpetual contracts last Friday, prediction market maker Kalshi quickly submitted self-certification applications for perpetual contracts on 12 major altcoins, including Ethereum, XRP, Solana, Dogecoin, Stellar, Chainlink, Bitcoin Cash, Litecoin, Sui, Shiba Inu, Polkadot, and Hedera. The CFTC stated that while approving the Bitcoin perpetual contract, perpetual contracts for other assets will be reviewed on a case-by-case basis; therefore, Kalshi's applications have not yet been approved.
On June 14, U.S. Securities and Exchange Commission (SEC) filings show the regulator has formally approved a rule change proposed by NYSE Arca that enables the listing and trading of the T. Rowe Price Active Crypto ETF. An actively managed cryptocurrency ETF, the fund will invest in a basket of digital assets meeting SEC-defined "eligible asset" criteria. While it uses a cryptocurrency index as its benchmark, it will not track that index passively. The filing notes the fund is projected to hold roughly 5 to 15 distinct cryptocurrencies, including major tokens like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, Cardano (ADA), Avalanche (AVAX), Litecoin (LTC), Polkadot (DOT), Dogecoin (DOGE), and Chainlink (LINK). The SEC filing also reveals the fund may hold stablecoins—primarily USDC—as "tokenized cash" during normal operations to cover expenses and rebalance assets, though these will not count toward its core investment portfolio. The approval notice stresses the product must adhere to NYSE Arca’s rules around anti-manipulation, disclosure, liquidity, and risk management. It also requires the fund to have information barriers (often called "firewalls") and position transparency mechanisms in place to uphold market fairness and prevent insider trading. Analysts say this ETF’s approval further expands cryptocurrency’s footprint within the traditional financial sector, marking the arrival of actively managed multi-crypto ETFs as tradable products under mainstream regulatory oversight.
Relevant content
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
3 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
3 minutes ago
Micron Technology surges 18% in pre-market trading on US stocks
According to Bitget market data, the US stock storage sector is seeing broad pre-market gains. Micron Technology (MU.O) jumps 18% in pre-market trading, as its strong earnings significantly exceeded expectations, with multiple major banks raising the stock’s target price. SanDisk (SNDK) rises 12.25%, Western Digital (WDC) gains 12.05%, and Seagate Technology (STX) climbs 8.63%.
3 minutes ago
SBI announced it will acquire cryptocurrency trading platform Bitbank for 46.7 billion yen.
According to Nikkei News, Japanese financial group SBI Holdings announced on the 25th that it will acquire cryptocurrency exchange platform bitbank for 46.7 billion yen (approximately $288 million). Upon completion of the transaction, SBI Group’s crypto asset custody scale is expected to exceed 1 trillion yen, making it one of the largest operators in Japan’s crypto industry. Per the plan, a subsidiary under SBI Holdings will acquire Bitbank shares from individual shareholders including its founders as early as August this year. Bitbank will then repurchase shares held by existing shareholders MIXI and Ceres by the end of October. If combining data from SBI’s own crypto exchange SBI VC Trade and Bitbank, as of April this year, the two firms had a total of around 2.92 million accounts and total custody assets of approximately 1.1 trillion yen. While different crypto exchanges disclose custody assets at varying time points, among Japan’s major industry competitors, bitFlyer held about 960 billion yen in custody assets as of the end of December 2025, and Coincheck had around 800 billion yen as of the end of March 2025.
3 minutes ago
US Secretary of State: Will not accept the claim that the Strait of Hormuz belongs to any country.
US Secretary of State Rubio stated, "We will not accept the assertion that the Strait of Hormuz belongs to any country." (Jinshi)
3 minutes ago
Iraqi government spokesperson: Efforts are underway to restore full oil export capacity.
A spokesperson for the Iraqi government stated that Iraq is working to restore its full oil export capacity and plans to increase its oil production to 7 million barrels per day in the coming years. (Jinshi)
XRP may be headed for another major correction phase in 2026 if historical price behavior repeats.
Crypto analyst ChartNerd called attention to this possibility in a post on X, pointing to XRP’s long-term Gaussian Channel structure.
He argued that XRP has historically revisited the middle regression band of the Gaussian Channel after extended rallies. According to him, a similar move could emerge again sometime next year.
Notably, this observation comes as XRP trades at $1.31, with growing risk of falling back into the $1.20 range.
Key Points Analyst ChartNerd says XRP could revisit key Gaussian Channel support levels sometime in 2026. XRP has historically pulled back to its middle trend band after major rallies, according to the analyst. XRP dropped 4% to $1.31 as broader crypto market weakness triggered fear-driven selling pressure. ChartNerd believes XRP could revisit $0.70 before potentially starting a move toward double-digit prices. Analyst Points to Historical Gaussian Channel Pattern ChartNerd shared a long-term XRP chart highlighting multiple instances where the asset eventually returned to the channel’s middle regression band following overheated price expansions.
The chart marks previous cycle tops with red circles, followed by pullbacks toward the green middle regression band, which the analyst described as XRP “coming home” to support levels after euphoric rallies.
According to the analyst:
“History tells us that at some point in 2026, XRP will more than likely come home to the middle regression band of the Gaussian Channel.”
The projected move would imply XRP eventually retracing from elevated levels back toward a historically significant trend support zone. Notably, XRP price has already dropped over 60% from its $3.65 peak.
XRP Drops Alongside Broader Crypto Market The bearish projection comes as XRP is already facing short-term pressure amid a wider crypto market decline. XRP has fallen 4% over the past 24 hours to trade around $1.31.
The decline closely tracked Bitcoin’s drop to $74,000, as macro-driven risk aversion triggered a broader sell-off across digital assets.
The total crypto market capitalization also slipped 2.37%, while the CoinMarketCap Fear & Greed Index dropped to 35, signaling “Fear” among investors.
Rather than being driven by an XRP-specific catalyst, the latest weakness appears tied to a broader market pullback affecting most major cryptocurrencies.
Breaking a 13-Year Structure ChartNerd added in a follow-up post that if this cycle is truly “different,” XRP would need to break the historical pattern that has shaped its market structure for more than 13 years.
He said the monthly Gaussian Channel should continue to be respected as long as the broader cyclical trend remains unchanged.
Long-Term Structure Still in Focus Ultimately, ChartNerd’s analysis focuses more on XRP’s broader long-term pattern than on short-term price swings.
Since XRP is still trading above the middle level, the analyst believes a similar pattern could emerge again as the current cycle develops into 2026.
Notably, ChartNerd expects XRP to revisit the $0.70 level during the next major downward move. According to his earlier analysis, this dip could mark the bottom before a potential rally toward double-digit price levels.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
XRP Trapped Near $1.00: Record U.S. spot ETF inflows of $116.74 million fail to spark a rally, leaving XRP vulnerable to a drop toward $1.05 unless Washington's upcoming Senate vote on the CLARITY Act triggers a reversal.Bitcoin Eyes $91,150: Despite losing $1.26 billion in weekly ETF outflows, BTC successfully tested its middle Bollinger Band support at $75,029, setting up a potential squeeze toward the $91,150 zone as market dominance rises.Hyperliquid Flips Dogecoin: HYPE surged 46.68% to hit a $16.03 billion market cap, pushing DOGE to 10th place due to a massive $1.16 billion trading-fee buyback engine and aggressive institutional ETF inflows.Millions in ETFs are not saving XRP: Why the $1.05 level is working like a magnetWhile major funds are aggressively buying XRP ETFs in the United States, the token's price chart keeps pulling the price toward the psychological $1 mark. Behind the scenes, however, a powerful political trigger is building up, one that could finally break this bearish trend.
The anomaly of the current moment is most visible in how U.S. spot XRP ETFs recorded their largest capital inflow of 2026 as per SoSoValue, an impressive $116.74 million. Logically, this should have led to a rally, but instead the token's price has fallen by 0.16% since the start of May.
HOT Stories
Institutional millions simply dissolved in the broader skepticism of the crypto market, proving that ETFs alone are currently unable to push prices higher.
XRP price action in May 2026 with net US ETF inflows, Source: SoSoValueThis impotence of buyers is exactly what redirects attention to the weekly chart by TradingView, where a classic technical drama is unfolding. Every weekly close below the middle Bollinger Band cuts off the chances of a bullish comeback, turning the lower band at $1.0596 into an irresistible price magnet. In conditions where the market is moving by inertia, this pull makes a drop toward the round number the most likely scenario for the coming weeks.
The only thing capable of keeping XRP from falling toward $1 is Washington. The market is waiting for a full U.S. Senate vote on the CLARITY Act, which is expected in June, with potential approval by July 2026.
Earlier, XRP had already proven its sensitivity to regulatory news, becoming the top gainer after the successful Banking Committee vote of 15-9. But since that rally turned out to be short-lived, the token remains defenseless against broader market trends until June.
If Bitcoin declines, XRP will not hold its current positions and will head for a meeting with the $1.05 level.
Why Bitcoin is aiming for $91,150 despite altcoin panicAt the same time, amid a local flight from U.S. Bitcoin ETFs and tectonic changes in the Middle East, Bitcoin has entered maximum autonomy mode. While most altcoins are updating local lows, the main cryptocurrency is playing its own game on the weekly chart.
The successful test of the middle Bollinger Band around $75,029 did not simply save the market from panic. It kept alive the ambitious squeeze scenario toward the upper boundary of the indicator, in the $91,150 zone.
This technical strength looks especially paradoxical when looking behind the scenes of exchange order books. Right now, U.S. spot Bitcoin ETFs are recording their sixth consecutive day of net outflows, losing an impressive $1.26 billion over the week under pressure from sales in BlackRock's IBIT fund.
However, the market found the strength to absorb this massive supply overhang.
Bitcoin weekly price chart within Bollinger Bands, Source: TradingViewThe fact that BTC remained above the critical moving average turns ETF pessimism into a powerful contrarian signal. While retail investors panic-sell into cash, smart money is using the Bollinger Bands as a reinforced concrete slab for position accumulation.
At the same time, a harsh process of natural selection is starting in the crypto market. While Bitcoin withstands the storm, XRP and a group of leading altcoins are capitulating, breaking their 200-day supports in pairs against BTC. This divergence points to an inevitable liquidity flow and a rapid rise in Bitcoin dominance.
The catalyst for this separation is the changing macroeconomic background. Investors are beginning to realize that the nearly agreed peace deal in the Middle East is not just a local de-escalation, but a factor that changes the rules of the game. The oil market, which insiders had been shorting long before the official headlines, is already pricing in de-escalation.
But for this positive factor to turn into a sustainable rally in stock markets, the world needs official statements and, more importantly, a full unblocking of the Strait of Hormuz, which is restraining global inflation.
Buybacks and ETFs lift Hyperliquid above DogecoinHyperliquid's token, HYPE, has climbed to 9th place in the global cryptocurrency ranking by CoinMarketCap, pushing Dogecoin (DOGE) down to 10th. The historic reshuffling happened after HYPE broke above $63, hitting a $16.03 billion market cap against $15.95 billion for the memecoin leader.
This flip represents a clash of market philosophies: the speculative power of community versus strict mathematical tokenomics. While DOGE relies on retail loyalty and is consolidating near $0.103, HYPE deployed institutional capital and DeFi automation to soar 46.68% over the past seven days.
The main driver is Hyperliquid's unique DeFi flywheel. Unlike DOGE, which depends on external news triggers, HYPE is backed by continuous algorithmic buying pressure. Through its Assistance Fund, the protocol automatically directs 97% of all trading fees to buy back HYPE from the open market, a sum that has already crossed a colossal $1.16 billion.
Hyperlquid (HYPE) vs Dogecoin (DOGE) market cap dynamic since start of May 2026, Source: TradingViewThis internal demand coincided with aggressive supply absorption by trading firms (DATs). The PURR fund alone helped lock up roughly 10% of HYPE's market supply using TWAP algorithms. These players carry massive weight: PURR is armed with a $1 billion credit line, and its shares even replaced Solana and XRP ETFs on Goldman Sachs' balance sheet in Q1 2026.
This traditional finance expansion was cemented by newly launched spot ETFs from 21Shares and Bitwise, which pulled in $57 million in net inflows in a single week.
Nevertheless, it is too early to write off Dogecoin. It holds a trump card of inertial strength and whale support. While HYPE stormed all-time highs, large wallets holding 10M–100M DOGE accumulated over 525 million coins in a week, building a heavy price shield around $0.1.
Crypto market outlook: Bitcoin ignores panic ahead of Memorial DayBitcoin is holding above $77,000 after a V-shaped rebound from the $75,000 level. While retail investors panic over $1.26 billion in weekly ETF outflows, a process of natural selection has started in the market: capital is massively fleeing falling altcoins into BTC, accelerating its market dominance.
Key checkpoints:
Bitcoin price and on-chain: The local growth trigger is progress in diplomatic negotiations in the Middle East. While spot ETFs are applying selling pressure, strong hands are using the consolidation for aggressive position accumulation.American Reserve Modernization Act (ARMA): A major bipartisan bill on a strategic Bitcoin reserve under the U.S. Treasury has been submitted to the House of Representatives. Agencies will be required to transfer all seized coins into centralized custody for at least 20 years. BTC sales will be allowed only to repay government debt.Institutional inflows: The capital rotation is confirmed by first-quarter reports. Bank of America, the second-largest bank in the United States, increased its stake in the IBIT fund to $37 million while liquidating positions in ETH and Solana.Macro shock on May 28: The main focus of the week is the release of April Core PCE. Against the backdrop of cheaper oil, markets are waiting for softer Fed rhetoric. A short-term pause in liquidity will come from Memorial Day in the United States on May 25, when U.S. exchanges and ETF trading will be fully closed. You Might Also Like
XRP faces a three-way test this week. An XRPL pilot in Uganda just launched, Binance spot liquidity hit a January 2020 low, and the daily chart now compresses inside a tightening symmetrical triangle near key support.
The altcoin traded near $1.33 on May 26, down 2.1% on the day. Price now tests the lower trendline of a symmetrical triangle, where adoption news and weakening market structure collide.
Uganda Pilot Pushes XRPL Into Genomic IdentityDNA Protocol confirmed on Tuesday that its Uganda pilots process genomic identity data from certified labs. The system generates zero-knowledge proofs and anchors them on the XRP Ledger Testnet.
DNA Protocol positions the design as a privacy-preserving way to validate genetic credentials without exposing the raw data. Uganda’s pilot routes lab outputs into proofs that any verifier can check on XRPL Testnet, the team said.
Uganda is now running pilot programs through DNA Protocol, processing genomic identity data from certified labs and generating zero-knowledge proofs anchored on the #XRPL Testnet. 🇺🇬
Mainnet deployment will utilize the $XDNA $XRP dual burn mechanism.
For further information on… pic.twitter.com/bUfh3SsPOq
— DNA Protocol (@DNAOnChain) May 26, 2026 Mainnet deployment will run through a dual burn mechanism between XDNA and XRP, the project said on X. The XDNA token serves as the native unit for protocol fees, and the dual burn ties it directly to XRP supply mechanics.
The pilot aligns with a wider push to position the XRP Ledger as institutional infrastructure. Earlier work on institutional XRPL privacy already brought zero-knowledge payment rails to the testnet for developers.
Binance XRP Liquidity Sinks to a Five-Year LowThe 30-day liquidity index for XRP on Binance fell to roughly 0.043, according to CryptoQuant data. That marks the lowest reading since January 2020 and reflects a sharp drop in market depth on the exchange.
Between 2022 and 2024, the same index frequently ran above 3, and at times above 4. Heavier trading flows during that stretch coincided with the previous bull cycle and stronger speculative interest in XRP.
The drop toward zero began in early 2025 and has held for months. That trend parallels broader XRP liquidity concentration risks across major venues.
XRP’s price also reached new highs in 2025, while liquidity had already trended toward the floor. That divergence often precedes wider price swings once trading flows return.
CryptoQuant noted that thin order books amplify the impact of large orders. Periods of thin liquidity often coincide with sharper intraday wicks and weaker support absorption.
“Liquidity at these low levels could make the market more sensitive to sudden price movements, as large orders may have a greater impact on price.”
XRP Binance liquidity / Source: CryptoQuantTriangle Compression Tilts Bearish Near $1.17 SupportThe XRP/USDT daily chart on Binance shows a symmetrical triangle pattern that has guided price action since February 6. The upper trendline descends from a $1.70 swing high, and the lower trendline rises off the $1.17 February low.
Both bounds match Fibonacci retracements from the prior leg. The $1.7045 level marks the 0.618 retracement, while $1.1729 sits at the 0.786 retracement.
Price has just broken under the $1.40 zone that held since March. It now presses the lower triangle trendline near $1.33.
XRP daily chart / Source: TradingViewThe Relative Strength Index sits in the mid-30s to low-40s, signaling fading momentum without oversold readings. Bollinger Band Width Percentile prints near multi-year lows, confirming the XRP volatility squeeze flagged in earlier sessions.
Daily volume has remained subdued during the recent slide. No clear capitulation candle has printed on the move below the $1.40 zone.
The current lean tilts breakout odds toward the downside. A confirmed daily close below $1.17 would open the path toward deeper retracement levels.
What to Watch Next for XRPThe setup combines drained liquidity, a coiled chart, and a fresh utility hook into a single decision point. Whether the Uganda pilot translates into network demand or the triangle breaks lower may shape the next leg.
The XRP May trajectory is likely to pivot on the next confirmed close above $1.40 or below $1.17.
Bitmine has made its largest Ethereum (ETH) buy of the year during the recent market dip, reaffirming the firm’s bullish outlook on the leading altcoin and continued accumulation strategy.
Bitmine Ramps Up Ethereum Purchases On Tuesday, Bitmine Immersion Technologies, the world’s largest Ethereum treasury, announced its largest purchase since December 2025, having acquired roughly $238 million in ETH over the past week.
In its latest update, the company shared it purchased 111,942 ETH during the recent market pullback, which sent the King of Altcoins below $2,200. Bitmine’s Chairman, Tom Lee, affirmed that last week’s correction represented “an attractive opportunity” to increase the company’s holdings.
“We continue to expect a supercycle ahead for crypto and Ethereum, driven by the dual drivers of Wall Street tokenization and agentic-AI. And thus, we continue to steadily acquire ETH, with Bitmine now owning nearly 5.4 million ETH tokens,” stated Lee.
Now, the company’s crypto and cash holdings have reached $12.3 billion at current prices, comprised of 5,390,404 ETH at $2,134 per token, 203 Bitcoin (BTC), a $200 million stake in Beast Industries, an $95 million stake in Eightco Holdings as part of its “Moonshots” initiative, and total cash worth $444 million.
The latest buy has pushed BitMine’s Ethereum holdings closer to its goal of controlling 5% of ETH’s 120.7 million supply, reaching 4.47% of the supply, 89% of its goal, in just 11 months. As a result, “Bitmine is expected to reach the ‘alchemy of 5%’ sometime in 2026,” the chairman affirmed.
In addition, the company revealed that 4,712,917 ETH of its holdings, worth about $10.1 billion, have been staked. Lee also shared that, “At scale (when Bitmine’s ETH is fully staked by MAVAN and its staking partners), the projected ETH staking reward is $276 million annually (using 2.75% 7-day BMNR yield).”
Analysts Eye $1,850 Support Recently, Lee suggested that Ethereum could rally toward new highs by the end of the year, based on his belief that the “crypto winter is over” and a recovery rally could take place over the coming months.
However, some market observers have warned that a long-term bullish rally is not likely this year. In an X post, analyst Ali Martinez highlighted that ETH has been trading within a broad, multi-year range since 2021.
ETH’s multi-year range. Source: Ali Charts on X After falling back to the channel’s lower half earlier this year, the altcoin recently faced a “clean rejection at the mid-range of this structure,” which coincided with a rejection from the 200-week Simple Moving Average (SMA), signaling weakness.
As the price fails to reclaim this area, the analyst noted that the most critical level to hold remains $1,850, explaining that a weekly close below this support would likely trigger downside acceleration. He suggested that this could open a great opportunity for investors, based on the MVRV Pricing Band:
Right now, the highly watched 0.8 MVRV Pricing Band is sitting right around $1,850. Historically, whenever Ethereum drops below the 0.8 MVRV band, the move is not sustained for very long. (…) History shows that this exact zone represents a high-probability macro accumulation window that builds the ultimate foundation for the next major bull market.
Lastly, he affirmed that to invalidate the bearish scenario, ETH would need two clear triggers: a reclaim of the 200-week SMA, located around $2,500, and a clean break above the 50-week SMA around $3,100.
Ethereum’s performance in the one-week chart. Source: ETHUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Key Takeaways XRP declined beneath the $1.20 threshold, reaching a session low of $1.1401 during recent market activity. Trading activity remains beneath the 100-hour Simple Moving Average, signaling ongoing bearish pressure in the short term. Technical indicators including RSI demonstrate oversold readings, suggesting potential for a near-term rebound. A sustained break above $1.1950 is required for bulls to initiate a meaningful recovery, with $1.32 serving as the critical resistance zone. Technical analyst ChartNerd identifies $0.84 as a potential downside target corresponding to the Middle Regression Band if support fails. XRP has experienced persistent downward pressure in recent trading sessions, declining in tandem with Bitcoin and Ethereum amid widespread cryptocurrency market weakness.
XRP Price The digital asset pierced the $1.20 support threshold and continued its descent to establish a low at $1.1401. Current price action shows consolidation within the $1.15–$1.20 corridor, with trading occurring beneath the 100-hour Simple Moving Average.
As of this writing, XRP is changing hands near $1.22, reflecting an approximate 1% gain during the last 24-hour period.
Technical chart analysis on the hourly timeframe reveals the formation of a descending trend line, with immediate resistance positioned at $1.1950. Additionally, the price has been unable to recapture the 23.6% Fibonacci retracement level derived from the downward movement spanning $1.3640 to $1.1401.
To establish a legitimate recovery pattern, XRP must achieve a decisive close above the $1.1950 threshold. Such a breakthrough could facilitate advances toward $1.20, followed by $1.22, and ultimately $1.25.
Critical $1.32 Level Could Determine Trend Reversal The pivotal resistance zone for XRP bulls remains at $1.32. A convincing close above this benchmark could trigger upward momentum toward $1.43, which would represent approximately 17% appreciation from present valuations.
Nevertheless, MACD momentum indicators continue displaying negative histogram values, reinforcing the prevailing bearish structure. Until definitive technical confirmation materializes, both upside and downside scenarios remain viable possibilities.
XRP functions predominantly as a bridge currency for international payment settlements, and community participants have been debating prospects for what some characterize as an “XRP Supercycle” — a theory suggesting dramatic price appreciation lies ahead. Market performance has yet to validate this hypothesis.
Cryptocurrency technical analyst ChartNerd (@ChartNerdTA) issued a cautionary update via X, highlighting that XRP has breached the Upper Regression Band at $1.35 within the Gaussian Channel framework. According to historical patterns, previous breaks below this band have consistently resulted in price retracements to the Middle Regression Band, presently located at $0.84. The analyst maintains that a move toward this level during 2026 remains a plausible scenario.
🎯 $XRP Update: We are now losing the Upper Regression Band ($1.35). History across the Gaussian Channel shows that every prior break below the upper band has led to a clear retrace toward the Middle Regression Band ($0.84). The 2026 "homecoming" remains firmly on track 🏡 https://t.co/KJXtjWKtNb pic.twitter.com/qDWtIrtyWk
— 🇬🇧 ChartNerd 📊 (@ChartNerdTA) June 3, 2026
Critical Support Zones Under Focus Regarding downside protection, the first support layer exists around $1.16, with secondary support at $1.155. Should XRP surrender the $1.155 level, subsequent targets include $1.15 and $1.144.
Source: TradingView A failure to maintain $1.144 would expose deeper support at $1.14, with further deterioration possible beyond that threshold.
The Relative Strength Index continues registering oversold readings, which typically attracts bargain-hunting buyers seeking short-term positioning. However, oversold technical conditions alone rarely produce sustainable trend reversals without accompanying fundamental catalysts.
The recent low of $1.1401 established during this corrective phase now serves as the current swing bottom for price structure analysis.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The XRP token is stuck dangerously close to losing its key status as a $1 altcoin as the current monthly XRP/USD chart by TradingView shows that the coin has exactly 15% left to fall before testing the lower boundary of the Bollinger Bands.
The situation is becoming more dangerous because the current price slide is taking place against the backdrop of a sharp compression in the Bollinger range itself. Historically, this has signaled not just a prolonged flat market, but a powerful impulsive breakout that could decide the fate of the $1 level for the coming years.
XRP bears eye $0.93 after losing key Bollinger supportAs of today, XRP is trading at $1.1233, showing a 15.62% decline for the current monthly period. The chart clearly shows that after breaking below the Bollinger Bands' middle line, the 20-period moving average at $2.0620, it's the lower band of the indicator at $0.9306 that now acts as the prime target.
HOT Stories
This gap to the lower band coincides with a large cluster of stop-losses on leveraged long positions, according to CoinGlass data, and their triggering could launch a cascade of automatic liquidations as XRP approaches the psychological threshold.
Monthly XRP price chart with Bollinger Bands, Source: TradingViewXRP's current weakness clearly shows that the presence of spot US XRP ETFs is doing nothing to stop the token's prolonged decline. Although institutional funds are holding cumulative inflows at $1.43 billion and are even selectively buying the dips, these modest injections are being completely absorbed by the broader collapse in market trading activity.
You Might Also Like
The external backdrop is making the situation worse, as the expected June 12 listing of SpaceX shares has generated massive excitement and pulled the attention of global capital toward itself. While ETF structures passively hold their positions, the retail market simply cannot find the strength or volume to resist the bearish trend.
If institutional "whales" do not activate their dormant limit orders near the historical support level of $0.9306, a breakdown below the lower Bollinger Band will finally lock XRP below the dollar range for the rest of the summer.
Crypto prices show bullish momentum today, with Bitcoin (BTC) steady in the $93K to $96K range. Binance Coin (BNB) soared 15%, setting a new all-time high. Tron (TRX) surged 70%, earning a spot in the top 10 cryptocurrencies. Reserve Rights (RSR) led gains with an impressive 121% rally.
The global crypto market cap rose by approximately 1%, now at $3.54 trillion. Trading volume also saw a boost, climbing to $292 billion. Let’s dive deeper into the top cryptocurrencies by market capitalization and their price movements today, December 4.
Crypto Prices Today: BTC at $95K, ETH, SOL Gain, XRP Drops by 6% Bitcoin (BTC) is inching closer to $97,000, continuing to trade within a consolidated range for over two weeks. Binance Coin surged to a new all-time high and is now trading at $750, reflecting strong market interest. Meanwhile, Tron (TRX) made a significant leap and has entered the top 10 cryptocurrencies by market capitalization.
Bitcoin Price Today Bitcoin (BTC) price trades at $96,500, with a 24-hour range between $93,629 and $96,669. Its market cap reached $1.9 trillion. The trading volume in the last 24 hours stood at $70 billion. Bitcoin’s market dominance dropped by 0.3%, falling to 54.11%.
According to sosovalue BTC ETFs saw an inflow of $675 million, with BlackRock contributing $693 million. Fidelity added $52 million, while Ark & 21 Shares reported an outflow of $93 million.
Meanwhile, Bitcoin mining firm Foundry cut its workforce to just 80–90 employees. The firm aims to streamline its operations.
Ethereum Price Today Ethereum (ETH) price trades at $3,667, reflecting a 1% increase over the past 24 hours. Its 24-hour low and high are $3,504 and $3,708. The cryptocurrency has a market cap of $441 billion and a 24-hour trading volume of $40 billion. Ethereum’s market dominance currently stands at 12.56%.
As sosvalue reported ETH ETFs saw an inflow of $132 million, with Fidelity contributing $73 million and BlackRock adding $65 million. However, Grayscale recorded an outflow of $6 million.
Meanwhile, Ethereum co-founder Vitalik Buterin emphasized the need for enhanced security and privacy in Web3 wallets. He urged wallets to integrate privacy features directly, reducing reliance on specialized privacy wallets.
XRP Price Today XRP is trading at $2.55, showing a 6% drop in the past 24 hours. Its 24-hour low and high are $2.36 and $2.86. XRP’s market cap stands at $145 billion, with $42 billion in trading volume. It is currently ranked 3rd by market cap.
In other news, Ripple lead attorney in the lawsuit, Jorge Tenreiro, has joined the US SEC as Chief Litigation Counsel. This move raises concerns over stricter crypto oversight, especially due to his role in the XRP case.
Solana Price Today Solana (SOL) price is trading at $238, reflecting a 5% gain in the past 24 hours. Its 24-hour low and high are $216 and $240. The cryptocurrency’s market capitalization stands at $113 billion, with $8 billion in trading volume. Solana ranks 5th among cryptocurrencies by market cap.
In a significant development, Grayscale Investments has applied for a Solana ETF with the US SEC. This move highlights the growing institutional interest in Solana’s ecosystem.
Meme Crypto Prices Today Meme coins are showing a mixed reaction today. Dogecoin (DOGE) price was down by 2%, trading at $0.41, with a 24-hour high of $0.42. On the other hand, Shiba Inu (SHIB) was up by 3%, trading at $0.00003015.
Other top meme coins are also showing mixed movements. PEPE was up by 1%, and WIF gained 4%, while Bonk was down by 1%. The meme coin market continues to remain volatile, with varied performances across different tokens.
Top Crypto Gainer Prices Today Reserve Rights Reserve Rights (RSR) price saw a massive 121% jump in the past 24 hours, trading at $0.026. Its 24-hour low and high were $0.01231 and $0.02669. This impressive rally has placed RSR among the top gainers today.
The surge in RSR price comes amid growing speculation about the potential appointment of Paul Atkins as the next U.S. SEC chair under President Donald Trump. This news has sparked increased interest in the project.
Tron Tron (TRX) price was the second biggest gainer in the last 24 hours, soaring by 70% and trading at $0.38. It has now entered the top 10 cryptocurrencies by market cap. Its 24-hour low and high were $0.2245 and $0.4406, respectively. TRON’s market cap stands at $32 billion, with a trading volume of $12 billion. The strong price movement highlights growing investor interest and solidifies TRON’s position in the top-tier cryptocurrencies.
Top Crypto Loser Prices Today Kaia Kaia (KAIA) price was the worst performer in the last 24 hours, with a 17% decrease in price. Crypto prices today show it is trading at $0.34, with a low of $0.26 and a high of $0.39.
Flare Network Flare Network (FLR) price dropped by 10% and is now trading at $0.034. Its 24-hour low and high are $0.03199 and $0.0382.
The hourly chart looks bullish for the crypto market, with major altcoins and Bitcoin up by 1 to 2%. Overall, the crypto prices today show strong bullish signs, which could be a positive signal for investors looking for growth in the coming days.
Market Wrap Crypto markets are still sluggish; Tron, Litecoin and Maker moving, Stellar slides and the rest are immobile. Crypto markets are still inactive today as volatility and volumes shrink and red dominates the majority of cryptocurrencies. There has been very little movement in either direction and total market capitalization is still weakened below $115 billion.
Bitcoin hit resistance twice at $3,470 during the past 24 hours, pulling back both times. It is currently trading at $3,460, the same as yesterday with further declines looking likely. On the week BTC has hardly moved at all as it consolidates below $3,500.
Ethereum is still weak at around $107, again with very little activity over the past 24 hours. XRP has fallen back over a percent on the day to below $0.30 as the gap to third place shrinks back to $1 billion.
Most of the top ten is in the red at the time of writing but a couple are bucking the trend and making gains. Tron is the top performer in this section during Asian trading today with a gain of 6%. The momentum is likely to be coming from the BTT token what has increased 600% in price since the ICO last week. Tron has been the top performing altcoin in the top thirty this year and daily volume has doubled to $380 million.
Litecoin has also had a good week with slow but steady gains as it takes and holds sixth spot above Tether. Stellar continues to slide with another 5% lost on the day.
The top twenty is mixed with Maker getting a 6% spike at the moment as it moves up the chart. Binance Coin is also posting a gain of 2.5% but the rest are immobile or falling back slightly.
A very obscure fomo pump has occurred with Bitcoiin (yes, that is the correct spelling), as it surges 350% at the moment. Pundi X and Theta are both having a good day with 15% gains at the moment. Getting dumped is Revain, Nexo and Aurora with 12% losses at the time of writing.
Total market capitalization is pretty much where it was this time yesterday, $113 billion. Daily volume is still the same at $16 billion and things are very quiet in crypto land. There has been very little activity over the past seven days indicating that the next major movement will probably be down again.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
Market Wrap Crypto markets consolidating again; Binance Coin, Dash and Maker are moving, the rest slipping slowly. As widely predicted the crypto market pump was just that as things are starting to dump again today. The movements have been minor but the majority are in the red at the moment as market capitalization slips back to $120 billion.
Bitcoin did not get close to $3,700 today so new resistance levels are forming lower again. Around $3,650 seems to be its stability point for the time being but dips are not being supported and Bitcoin could drop lower, it is currently down half a percent on the day.
Ethereum has held on to second place by not moving over the past 24 hours. Still trading at $120 ETH could get some momentum from the Constantinople hard fork which has been delayed until the end of the month. XRP has lost a little more ground today and the gap between the two is currently just over $200 million.
Most of the top ten are falling back during the Asian trading session today. Tron has dropped the most despite the BTT airdrop today as TRX loses 3.5%. Bitcoin Cash is not far behind with a 3% slide. Only Binance Coin is making progress today adding another 2.5% as it closes the gap on Stellar in ninth which has dumped another 2%.
There are two big movers in the top twenty at the moment. Dash and Maker have added a further 7% on the day trading at $83 and $495 respectively. The Maker dev fund was moved to a new multisig wallet two days ago which caused the CMC market cap spike and the flipping of ETC and NEM. NEO and Zcash have also added 3.5% each to their prices over the past 24 hours but IOTA and NEM continue to slide.
There are no major pumps occurring in the top one hundred at the time of writing. Huobi Token is the best performer adding 15% followed by MOAC with a 12% rise. Getting bashed is yesterday’s pump; Quant followed by Revain both shedding 10% in predictable dumps.
Total market capitalization has not really moved overnight and is still at $120 billion. No further gains for the big cap coins look likely so further consolidation is expected in this channel for the time being. Volume is still at $20 billion and markets are still 6% higher than they were this time last week.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
Market Wrap Crypto consolidation continues; Litecoin still inching up, NEO making progress, everything else is flat. Crypto markets are looking a little erratic as we enter the weekend but in the grand scheme of things nothing has changed over the past seven days. Total market cap has crept up marginally but most tokens are still consolidating within their slim boundaries.
Bitcoin has bounced of intraday resistance levels of $3,640 twice but is still holding above major support at $3,600. Lower highs have been made all week indicating that BTC is likely to turn bearish soon, especially if it falls below the key $3,600 level.
Ethereum is stable at $123 still, it has not moved a bit over the past 24 hours and remains where it has been since mid-week. XRP is slowly weakening and the gap between the two has now widened to $450 million.
There has been so little action for the majority of the top ten that they are showing tenths of a percent change over the past day. Litecoin is the biggest mover with 2% as it pulls away from EOS and increases the market cap gap between them. Very little else is going on in this section.
NEO is today’s top coin in the big twenty as it adds 3% on the day. Tezos is creeping back towards a top twenty place adding 2% but it is still a way off Zcash. Maker and NEM are dumping 4-5 percent following a couple of days of reasonable gains.
There are only two altcoins in double digits at the time of writing. Ontology and Aelf have added 16% a piece during the Asian trading session. The Parity Games partnership appears to be driving momentum for ONT. There are no big dumps going on at the messy end of the top one hundred but the day’s worst performers are Aurora and Revain.
Total market capitalization has not moved over the past 24 hours and remains a fraction higher at just over $121 billion. Markets are still range bound in a very tight channel where they have been all week. There are no signs of momentum in either direction and the tedium continues in crypto land.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals
Crypto markets marching upwards again; EOS and Litecoin leading the charge, BNB cools off. EOS up 16% from $3.3 to $3.83 in 48 hours. Market Wrap Momentum is gaining once again on crypto markets following a little cooling off yesterday. Most cryptocurrencies are in the green at the moment and total market capitalization has topped $135 billion for the first time in six weeks.
Bitcoin hit resistance again at $4,000 twice in the past day but it has not fallen back and is holding there at the time of writing. It is currently up 1.3% from yesterday’s minor correction but has failed to break this crucial level. The next move for BTC is likely to be a big one.
Ethereum has regained momentum and has moved up a further 3% on the day to reach $148. ETH remains well supported and the next resistance level is at $150. The gap to XRP is almost $2 billion again as the Ripple token makes minimal progress today.
The top ten is green once again and EOS is the day’s leader with a gain of 8% taking it to $3.90. Litecoin has also had a very strong few hours with 7% added increasing its market cap over $3 billion and breaking through a crucial psychological resistance level of $50. Stellar has also shifted gear today with a 6% rise as it pulls away from Tron.
EOS Surges 16%, Source: TradingView The top twenty is equally buoyant during Asian trading today with everything bar Binance Coin in the green. Maker is yet again the top performer in this section with another 5.5% added on the day. Most other coins here are making 2-3 percent as the rally pushes slowly higher.
REPO and Crypto.com’s MCO token are getting a dose of FOMO at the moment as they both have risen by 20%. There are no big dumps currently but Revain is currently the top one hundred’s worst performer losing almost 5% on the day.
Source: Coinmarketcap.com Total crypto market capitalization is still moving up and has retained momentum. It is currently 2.2% higher on the day as it pushes through a six week high of $136 billion. Daily volume has fallen back below $30 billion though but it has maintained strong levels. Since last Thursday markets have made over 12% and hopes are that this will continue.
Market Wrap is a section that takes a daily look at the top 20 cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets have found a new level; Binance Coin pumping hard, EOS and Maker still sliding. Market Wrap Monday’s crypto market dump has found a new level and the selloff has abated over the past 24 hours. This has prevented another huge rout though further losses cannot be ruled out. Total market capitalization has stabilized above $125 billion for the time being.
After dumping $100 yesterday Bitcoin has found a new channel around $3,760 where it has traded for the past day. Daily volume is back up to nearly $9 billion for BTC but it appears to be all bearish at the moment. As predicted Bitcoin fell after failing to break strong resistance at $3,900, all indicators suggest that further losses are imminent.
Ethereum has leveled out at around $127, dropping a further percent or so on the day. All of February’s gains are getting wiped out as ETH continues to weaken and follow in the shadow of Bitcoin. XRP has not fallen in the same magnitude which has reduced the gap between second and third places to just $800 million. The Ripple token is currently trading at $0.305.
Binance Coin price 24 hours. Coinmarketcap.com Only one altcoin is surging in the top ten during today’s Asian trading session and it is developing a pattern of its own. Binance Coin appears to be behaving like a stablecoin; it pumps when markets dump. BNB is currently up 10.5% as it hits an 8 month high of $12.50. Binance boss CZ appears to have taken over from Justin Sun for volume of twitter posts in any given day;
Either way his exchange backed token is flying at the moment as it surges past Stellar and Tron to take eighth spot by market cap which is currently $1.7 billion. Changpeng Zhao’s current AMA and recent DEX announcements are driving momentum for BNB. Tron is the only other altcoin in the green in the top ten as it made almost 3% over the past 24 hours.
Looking further down at the top twenty Bitcoin SV is having a rare bounce as it adds 4% on the day taking its price to $66.50. The rest are still in the red with Maker shedding the most at 5%. Monero, NEM and Zcash are all still weak with further losses of 3% today.
FOMO: MOAC on The Move Today’s fomo induced pump is MOAC which is up 14% at the time of writing. There does not seem to be much driving momentum for this multi-level blockchain scaling platform so it could well be tomorrow’s dump. Also getting a boost at the moment is Loom Network with a 12% pump.
Following a couple of days of fomo, Ravencoin is cooling off today as it becomes the top one hundreds biggest loser dumping 13% on the day. Revain and Bitcoin Gold are not far behind as they both shed 12% making up the only three to drop double digits at the moment.
Total crypto market capitalization has found a temporary floor at $126 billion following the $4 billion dump yesterday. Daily volume has crept back up to $28 billion but signals are bearish and the selloff is likely to continue. Crypto markets are at exactly the same place they were three months ago as the consolidation continues.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
Crypto markets pulling back sharply; Litecoin, EOS, Bitcoin Cash and SV getting smashed, Crypto.com gets fomo. Market Wrap As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so. Bitcoin initiated the dump but so far has remained above key support levels. It is the altcoins that are bleeding today.
Bitcoin fell below $5,000 for the first time in a week and settled at $4,950 before recovering slightly. The failure to break resistance at $5,400 has sent BTC back down as it drops around 4% on the day. Many had predicted this pullback and foretell further losses back to major support at $4,600 where the 200 day moving average is.
Ethereum has fallen harder as expected with a drop of 5% back below $165 again. There was no push to $200 for ETH which is still rising and falling along with its big brother. The gap between it and XRP in third is now much larger though at almost $4 billion market cap.
The top ten is a sea of red during today’s Asian trading session. The altcoins are getting hammered, some by double digits. Litecoin is losing 9% today as it falls back to $77, EOS and Bitcoin Cash are not doing a great deal better with 24 hours loses of 6 – 7 percent. Stellar and Cardano have both dumped 5% as Tether moves back up the chart.
The top twenty is awash with equal pain as Bitcoin SV, Ontology and Maker dump ten percent a piece. Close behind is Tron, NEO and Ethereum Classic with losses of over 6% on the day.
FOMO: Crypto.com Crushing It Despite the massive market correction Crypto.com’s Chain is flying today with a 25% fomo pump to $0.093 (1860 satoshis). There does not appear to be much driving the fomo, the only recent news is that the company donated $500k to Binance charity. South Korean markets are dominating trade in CRO with Upbit taking 40% of the total volume.
TrueChain is also getting fomo today with a 20% pump and Lambda is the third altcoin in double digits at 17%. KuCoin Shares are still getting dumped with a further 11% lost today. ABBC Coin and Revain, the usual suspects, are also dumping 10% each following recent pumps.
Total market capitalization 24 hours. Coinmarketcap.com Total crypto market capitalization has lost 5.5% in 24 hours falling from around $180 to just below $170 billion. Markets reached a new 2019 high on Thursday with a brief surge to $186 billion but since then $16 billion has been wiped out. This could be a short term pullback or the beginning of a final capitulation that so many analysts have been talking about.
Market Wrap is a section that takes a daily look at the top cryptocurrencies during the current trading session and analyses the best-performing ones, looking for trends and possible fundamentals.
TLDR: XRP withdrawal share on Binance reached 53.8% on June 23, the highest since June 2024. Deposit transactions fell to 46.1%, their lowest level in approximately two years. Withdrawals have outpaced deposits for seven straight days since June 17 on Binance. Ripple burned $539M in RLUSD over 30 days, with burns exceeding mints by $129M. XRP withdrawal transactions on Binance have reached their highest share since June 2024, climbing to 53.8% on June 23. Over the same period, deposit transactions fell to 46.1%, their lowest reading in roughly two years.
The gap between the two metrics now stands at 7.7 percentage points, marking a notable shift in XRP transaction behavior on the exchange over the past week.
Withdrawals Hold Control for Seven Consecutive Days The withdrawal dominance on Binance is not a one-day event. XRP withdrawals have outpaced deposits every day since June 17, representing seven straight days of sustained divergence. This streak is the key development distinguishing the current move from routine daily fluctuations.
Source: Cryptoquant
The 7-day withdrawal share of 53.8% recorded on June 23 now stands as the highest level since June 2024. Meanwhile, deposit transaction share at 46.1% reflects its weakest position in approximately two years. The data shows a clear reversal from the pattern seen in prior months.
It is important to note what this metric measures. The figures track the share of deposit and withdrawal transactions, not the total dollar value or volume of XRP moved.
A higher withdrawal share means withdrawal transactions are outnumbering deposit ones — it is not a direct buy-or-sell signal on its own.
Still, the persistence of this trend over a full week gives the data added weight. A single-day spike can often be noise, but seven consecutive days of withdrawal dominance represents a sustained behavioral shift among XRP holders on Binance.
RLUSD Burns and XRP Price Performance Add Context Beyond exchange flow data, Ripple’s RLUSD stablecoin activity has drawn attention over the past month. According to on-chain data shared by validator Vet’s community tracker, Ripple burned $539 million worth of RLUSD over the past 30 days, with burns exceeding mints by more than $129 million during that window.
Ripple Slashes RLUSD Supply In Massive Burn Wave
Ripple has burned $539 million worth of its RLUSD stablecoin over the past 30 days, according to onchain data from validator Vet's community tracker.
Burns exceeded mints by more than $129 million during the same period.
Most… pic.twitter.com/qsWqQoT4y8
— BSCN (@BSCNews) June 23, 2026
Most of the destruction occurred between June 2 and 12, which marked the longest intraday burn streak since RLUSD launched in December 2024.
The single largest burn on record came on June 3, when $75.1 million worth of RLUSD was removed in a single day.
Against this backdrop, XRP is trading at $1.11 at the time of writing. The token recorded a 1.47% decline over the past 24 hours and a 9.43% drop over the past seven days. Trading volume over the same 24-hour period reached $1.37 billion.
Source: Coingecko
The combination of prolonged withdrawal dominance on Binance, declining deposit share, and the broader RLUSD burn activity presents a multi-layered picture of XRP market dynamics heading into late June.
Following a wave of heavy selling in the cryptocurrency market, XRP is attempting to stabilize near the $1.10 mark, aiming to form a short-term bottom after what is described as one of the major pullbacks of 2026. The asset, having dipped below major support lines and exited a multi-month trading range, continues to face downward pressure despite some signs of recovery.
Key levels to watch in XRPXRP recently lost its $1.28 support level, which had served as a key floor for most of March, April, and May. This breakdown accelerated selling, dragging the price down to recent lows around $1.05. Despite a brief rebound, the recovery was limited, indicating that market participants remain cautious even as the price attempts to rally.
Technical indicators reveal that significant resistance areas remain above the current price. The 50-day moving average stands at $1.20, while the 100- and 200-day averages are positioned at $1.28 and $1.35 respectively, reflecting an ongoing advantage for sellers in the broader trend. For a more meaningful turnaround, analysts note that XRP would need to reclaim these levels as new support zones.
Trading volume has shown a more balanced signal. There was a notable spike in volume during the initial breakdown, suggesting that much of the selling may have played out during that phase. As panicked selling has eased, volumes have gradually returned to normal, while the Relative Strength Index (RSI) is now attempting an upward move after exiting oversold territory.
While the downward momentum in XRP has waned compared to the first wave of selling, this alone does not confirm a lasting trend reversal.
In the near term, investors are closely watching the $1.20 level. A sustained move above this threshold could open the door to a broader rebound toward $1.28, while failure to break higher keeps the risk of revisiting recent lows on the table.
Dogecoin nears $0.10 thresholdDogecoin, despite a persistent bearish outlook, is at a price point that has drawn renewed attention from long-term investors. The so-called “zero deletion rally” in market jargon refers to the psychologically important $0.10 level, but current data suggest that such a move is not imminent.
DOGE is trading near $0.084, having recently fallen below a rising support trend that had held since February. This prompted another wave of selling, but sellers did not push the price significantly below $0.08, indicating that some buying interest remains at lower levels.
Technically, the outlook remains weak. DOGE continues to trade under its 50-, 100-, and 200-day moving averages, with the 50-day average at approximately $0.089 serving as nearby resistance. Higher up, the $0.098 and $0.114 levels are key to monitor. Following a near-oversold reading, the RSI has steadied, while previously elevated selling volumes suggest that weaker hands may have already exited.
Mini glossary: A “zero deletion rally” refers to a price move where a digit shifts upward in the decimal structure, crossing a psychological milestone. In Dogecoin’s case, this term is used for a return above $0.10.
Shiba Inu faces ongoing downward riskThe technical backdrop for Shiba Inu continues to look fragile. Although overall crypto markets have found some footing after recent volatility, SHIB remains one of the weaker major meme coins, with several indicators signaling that downside risk is still elevated.
A multi-month ascending channel that had formed since March has now been decisively broken to the downside, erasing prior recovery attempts and sparking a new round of selling. Since then, SHIB has struggled to generate enough buying interest for a significant rebound.
Trading around $0.0000047, SHIB is positioned under all key moving averages, with the 50-day at $0.0000050 and the 100- and 200-day averages at $0.0000055 and $0.0000057 respectively. The emerging minor rising wedge formation following the recent drop is under scrutiny, as such patterns often resolve lower in broader downtrends.
Despite recent attempts at a rally, modest buying volume in SHIB suggests the uptick may be driven more by short-covering than sustained accumulation.
While the Relative Strength Index has recovered from early-month oversold levels, it remains below the neutral 50-point mark. In the short run, holding above $0.0000050 and reclaiming the 50-day moving average are considered pivotal for SHIB. Otherwise, there is risk of a fresh move toward recent lows.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Kyber and Alpaca lead crypto gains with weekly surges of 139.2% and 194.4%, respectively. XRP hits $2.77 with $16.3B volume, maintaining strong market cap and trading activity. BAKE posts the only loss this week, falling 3.9% amid broad altcoin uptrend. Kyber Network (KNC) and Alpaca Finance (ALPACA) led the weekly gainers list as of July 12, 2025, according to updated data tracked by Phoenix Group via CoinMarketCap. Both assets saw large percentage increases over the past seven days, outpacing other trending cryptocurrencies by a wide margin. XRP also held its place among top-trending tokens, maintaining high market activity and capitalization levels as the broader crypto market continued to register concentrated movements in selected altcoins.
Kyber Network recorded a 139.2% gain this week, closing at a price of $0.67. The token posted a trading volume of $974.6 million over the seven days, placing it among the most actively traded altcoins currently trending on CoinMarketCap. Alpaca Finance, which saw the largest percentage gain on the list, rose 194.4% to trade at $0.036. Its 24-hour trading volume reached $18.3 million, signaling a notable uptick in short-term market interest.
Other gainers included Ark (ARK), which gained 31.7% over the week to reach a trading price of $0.75. Measurable Data Token (MDT) also showed a strong performance, rising 33.1%. IDEX posted a 22.5% increase, with $497 million in weekly trading volume, despite having a relatively minor market capitalization of $21.5 million.
XRP Maintains Uptrend with High Market Participation XRP has further attracted the attention of the institutions and retail markets, which further increased by 37.6% this week to trade at $2.77. It remained one of the valuable digital assets on the list, with a cumulative market cap of $163.6 billion. One of the greatest trade volumes of the day was exposed by XRP, standing at $16.3 billion, which guaranteed continued demand and high liquidity in the latest trades.
Meanwhile, lower-cap tokens such as Proton (XPR) followed suit and recorded a corresponding percentage rise of 37.6% over the same period, indicating replicating investor activity. Fusionist (ACE) increased by 15.5% to $0.35, and WEMIX went up by 25.2% to $0.51, with an equivalent trading volume of 15.5 million and a market capitalization of 233.7 million.
BakerySwap (BAKE) was the sole asset on the list to close the week in the red. It dropped 3.9% across the same period, differing from the broader upward trend among other trending cryptocurrencies. Most of the tokens listed were traded predominantly on Binance, followed by other major platforms, including Coinbase and KuCoin.
AUTHOR
Peter Mwangi is an accomplished crypto news writer with over three years of experience. He is recognized for producing insightful, well-researched content across major crypto publications. As an expert in blockchain technology, digital assets, and decentralized finance, he can uniquely simplify complex topics into engaging, accessible narratives. His strong storytelling and analytical skills, combined with a passion for continuous learning and collaboration, make him a valuable asset to the BlockchainReporter team.
Arizona lawmakers are weighing a bill that would let the state keep digital assets in a reserve instead of selling them off, and XRP is one of the names on the list.
The proposal would place those assets under the state treasurer’s control, and it could also let the state earn extra returns through staking, airdrops, or limited lending if the move does not raise financial risk.
What The Fund Would Hold SB1649 creates a Digital Assets Strategic Reserve Fund made up of digital assets that are held by, confiscated by, or surrendered to Arizona.
The bill text also says the treasurer could deposit state-held digital assets through a secure custody solution or an approved exchange-traded product, then administer the fund directly.
Source: LegiScan It defines “digital asset” broadly enough to include Bitcoin, XRP, stablecoins, nonfungible tokens, Dash, Internet Computer, Ravencoin, Chia, eCash, Monero, and other digital-only assets that meet the bill’s fair-value test.
That fair-value test is built around adoption, annual transactions, annual transaction value, and development activity. In plain terms, the bill tries to sort assets by market use and technical strength before they can be treated as reserve holdings.
The wording is broad, but it is not an open-ended invitation to buy anything. It sets a screening standard first.
BTCUSD trading at $1.31 on the 24-hour chart: TradingView A Bill That Keeps Moving The measure has already cleared the House Rules Committee and is headed to a full House vote. Arizona legislative tracking shows the committee approved it 8-0 on March 30, after earlier Senate action sent it across the chamber. That means the bill is still alive, but it is not law yet.
The House step matters because it moves the proposal closer to the finish line. The bill would give the treasurer authority to manage the fund, and it would also allow digital assets reported as abandoned property to be delivered in native form to the state or its custodian.
If those assets sit unclaimed long enough, staking rewards and airdrops could be shifted into the reserve fund.
Why XRP Is In The Mix XRP has drawn extra attention because it is named directly in the bill, not implied through a broad crypto category. The same section that lists Bitcoin also lists XRP alongside several other assets that could qualify under the reserve framework.
Ethereum (ETH) price slipped to about $1,711 as spot Ethereum ETF outflows extended to a seventh straight week even as the network’s own data points the other way.
A wider move out of the two largest crypto funds and into newer products looks like a rotation taking shape. Ethereum sits awkwardly in the middle of it.
Bitcoin and Ethereum ETFs Bleed a Seventh WeekSpot Bitcoin (BTC) ETFs booked a seventh straight week of redemptions. The weekly spot ETF flows, the gap between cash entering and leaving the funds, shrank from a $1.72 billion exit on June 5 to $68 million by June 22.
Bitcoin ETF Flows: SoSoValueEthereum ETF outflows matched that run at seven red weeks. The latest $66 million weekly exit was far smaller than the $255 million pulled in mid-May, so the bleeding is slowing. However, the new week has just started and it is important to see how things turn up by Friday.
Ethereum Spot ETF Weekly Flows: SoSoValueBoth majors are losing money, yet the pace is cooling rather than worsening.
The contrast shows up the moment the smaller funds enter the frame.
XRP, Solana and HYPE Funds Catch the BidWhile the majors bled, XRP ETF inflows ran for an eighth straight week, holding green even through early June’s price drop.
XRP Spot ETF Weekly Inflows: SoSoValueSolana (SOL) funds stayed mostly positive since mid-May, with only a couple of minor red weeks and about $836 million in net assets.
Solana Spot ETF Weekly Flows: SoSoValueHyperliquid (HYPE) funds have not printed a single red week since their May 13 launch, drawing about $183 million. The split looks like an early crypto ETF rotation, though the alt inflows are still small.
HYPE Spot ETF Weekly Flows: SoSoValueIf money is fleeing Ethereum, its network has not got the message.
Ethereum Staking Demand Dwarfs ExitsOn-chain signals clash with the ETF exit. The validator exit queue holds about 223,000 ETH waiting to unstake, against roughly 2.68 million ETH waiting to get in.
Ethereum Validator Queue Snapshot: ValidatorQueueThat is about twelve times more Ethereum staking demand than exit pressure, the opposite of what a sell wave looks like. Realized flows agree. Daily validator deposits turned net positive over the last ten days, after exit-heavy days earlier in June.
Validator Deposits Versus Withdrawals: DuneThe unstaked ETH that does reach exchanges stays small. Even the busiest day moved about 24,000 ETH, a fraction of the daily exchange inflows, which suggests exits are not feeding the market.
Exit ETH Reaching Exchanges: DuneExchange balances and the staking token tell the same calm story.
Exchange Outflows Ease and the stETH Peg HoldsThe exchange outflows picture is steady. The exchange net position change, a metric that tracks tokens moving in and out of exchanges, eased from about negative 564,000 ETH on June 9 to negative 442,000 by June 22, still a net withdrawal.
ETH Exchange Net Position Change: GlassnodeThe stETH peg held near 1.0 through ETH’s roughly 20% drop in early June. A clean peg suggests holders were not scrambling to unstake and sell.
stETH To ETH Peg Ratio: DuneSo if the chain looks committed, the rotation question moves to where flow is actually tilting.
A Quieter Rotation the ETF Numbers HideOne direct measure reframes the picture. A custom rotation score tracks ETH’s share of the combined BTC and ETH five-day net flow, then z-scores it against its own 30-day history. The reading is positive 1.05, which flags a tilt toward ETH. The catch is that ETH’s share of that flow is only 21%, so Bitcoin still takes most of it.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
The score fires because it measures change, not level. ETH’s share had been running nearer 12% to 15%, so a jump to 21% sits about one standard deviation above its own norm.
BTC To ETH Rotation Signal: Charlie Quant LabIn plain terms, money is rotating toward ETH faster than usual at the margin, even while every ETF print stays red. Headline fund flows miss this, but a direct read of the flow split catches it. At just over the +1 line, this is an early and weak signal, not a confirmed trend.
That gap between the weekly ETF tape and the on-chain split sets up the real test.
What Would Confirm the Grand RotationFor now the grand rotation is a pattern, not a confirmed move. It needs XRP, SOL and HYPE inflows to scale while Bitcoin and Ethereum keep bleeding.
The thesis breaks in two ways. Green weekly prints for the majors would end it, and stalling alt inflows would do the same.
Ethereum stays the odd one out, with a healthy network and weak ETF demand at once. Continued Ethereum ETF outflows beside a positive rotation score suggest the cash leaving the fund is not all leaving the asset. A return to positive weekly flows separates an Ethereum ETF recovery from a deeper rotation into rival funds.
