An Argentine judge dismissed the criminal probe into President Javier Milei, his sister Karina and LIBRA adviser Hayden Davis.The judge found that Milei's promotion of LIBRA did not constitute fraud, despite the attention his support drew to the token.LIBRA lost more than 95% of its value after reaching about $5, while wallets linked to its creator withdrew around $99 million in cryptocurrency.An Argentine federal judge has dismissed the criminal case against President Javier Milei over his promotion of LIBRA, a memecoin that crashed soon after its launch in February 2025.
The ruling also covers Milei's sister Karina, the presidency's secretary general. U.S. businessman Hayden Davis, who described himself as an adviser to the token's launch, was also covered by the dismissal, Reuters reported.
In all, 11 people were cleared, including lobbyist Mauricio Novelli and KIP Protocol CEO Julian Peh, according to Infobae. None of them had been formally questioned in the case.
Judge Marcelo Martínez de Giorgi acknowledged that Milei's endorsement could have given the launch "greater impact,” but said his social media post and LIBRA's subsequent collapse were insufficient to establish fraud without evidence of a specific deception, the report adds, citing court records.
The judge also found no evidence that Karina Milei sought or received money in exchange for access to the president, or that proceeds from LIBRA reached public officials, according to Argentine fact-checking outlet Chequeado.
In February 2025, CoinDesk reported that it had obtained text messages in which Davis bragged about buying access to the president’s inner circle, sent money to Karina Milei, and claimed he could influence the president's decisions. Davis subsequently denied making any payments to either Milei or his sister.
Milei promoted LIBRA on X on Feb. 14, 2025, saying the Solana-based token would help fund small businesses in Argentina. It rose exponentially before losing more than 90% of its value, leading to the destruction of over $250 million in investor wealth.
Blockchain researchers found that eight wallets linked to the token's creator had withdrawn around $99 million in crypto, according to the report. Davis said he held close to $100 million after the crash but denied wrongdoing.
Milei later deleted his post and denied ties to LIBRA. He said he had acted in good faith and pulled his support after learning more about the project.
In an official statement, the president's office said the judge granted a prosecutor's request to dismiss the case because the acts under review did not constitute a crime. It characterized the probe, opened ahead of Argentina’s 2025 midterm elections, as an attempt to harm Milei’s reputation in an election year.
The case may not be fully closed, however.
Prosecutor Eduardo Taiano, who requested the dismissal, is not expected to appeal. In July, the judge removed the investors who had joined the case as plaintiffs, and an appeals court upheld that decision in September.
Those investors have challenged their removal before the Federal Criminal Cassation Court. If they are reinstated, they could appeal the dismissal.
Read more: Will Argentinian President Milei's Crypto 'Fiasco' Be a Deathblow for Memecoin Craze?
Celestia has launched Eden, an experimental EVM chain for AI agentic commerce that uses TIA as its gas token and Celestia for data availability.
Celestia has unveiled Eden, a high-performance EVM chain that runs alongside its main network and is dedicated to testing how AI agents behave on-chain. The launch could add a new source of demand for $TIA, though the project itself describes the chain as an experiment.
What Eden is designed to do
On the technical side,
First experiment and TIA market reaction
Markets reacted quickly. after the launch, although other data providers reported larger moves over slightly different windows. The gains did not hold evenly.
The link between Eden and token demand is direct but unproven.
Caution is also warranted given the nature of the test.
For now, Eden is best read as a research environment that sends real traffic to Celestia's data availability layer. Whether it becomes a lasting driver of value for the $TIA ecosystem will depend on measurable usage over the coming months.
Sources:
ChainCatcher: Celestia launches Eden for AI agent trading and payment testsCrypto Briefing: Celestia's Eden launch sends TIA up about 16% in a dayPluang: Celestia's TIA token drops 14.3% after Eden announcement
LayerZero will launch its Zero Layer 1 mainnet and the lzATLAS exchange engine on November 30. Here is what it means for the $ZRO token and LayerZero's institutional ambitions.
LayerZero is set to launch its new Layer 1 network, Zero, together with its flagship application, lzATLAS, on November 30. The date leaves a little over a month before what the project is positioning as its largest release to date. @LayerZero_Core announced the timeline on October 20, according to TokenPost.
If the launch proves successful and draws real usage, it could give a meaningful lift to $ZRO and its community. That outcome is far from guaranteed, as the token's fortunes will depend on whether trading activity actually materialises.
What is launching on November 30Zero is LayerZero's own blockchain. Crypto Briefing reports that the network targets up to roughly 2 million transactions per second by splitting work into specialised zones covering EVM-compatible applications, trading and private payments, with verification based on zero-knowledge proofs.
lzATLAS is the first application to run on Zero. It begins with Open ATLAS, which is planned to support more than a dozen trading venues at launch, with more expected to follow this year. The mainnet is initially focused on open markets, while institutions are testing the app for larger markets such as U.S. equities and fixed income, per TokenPost. Venues are also integrating infrastructure and testing order execution and settlement ahead of go-live.
A plug-in engine rather than a consumer applzATLAS is notable for what it lacks. It has no consumer-facing frontend. Tron Weekly notes that ATLAS works as a "headless exchange" based on official documents, with third-party venues providing the access, distribution and trading interfaces. In practice, it is designed to sit behind other platforms and handle order matching, clearing, settlement and risk management while those platforms own the customer relationship.
The design carries a direct link to the token. According to Crypto Briefing, 75% of post-venue trading fees on ATLAS are planned to go toward buying back and burning $ZRO. The same report cautions that such a mechanism only matters if trading volume shows up.
The launch also follows institutional interest from earlier this year. CoinDesk reported in February that Citadel Securities made a strategic investment in ZRO when Zero was unveiled, and that DTCC, ICE, Google Cloud and ARK Invest were partnering or investing. The size of those investments was not disclosed.
Market watchers will focus on how many venues go live on day one and whether volume follows. According to TokenPost, ZRO was quoted at $1.846 on October 23, down 7.1% from an October 22 high near $2.
SourcesTokenPost: LayerZero Schedules Nov. 30 Debut for Zero Mainnet and lzATLAS
Crypto Briefing: LayerZero sets November 30 launch for Zero mainnet and lzATLAS
CoinDesk: Citadel Securities backs LayerZero as it unveils Zero
Swell paused swETH and rswETH deposits and withdrawals at 2:39 a.m. ET on Friday, October 23.
The swETH contract reported about 1.203 ETH, roughly 6% above the last clean rate of 1.133 ETH.
On-chain analyst Spreek suspected compromised admin keys and found malicious upgrade contracts.
Swell stated that no ETH has left the affected contracts, but it gave no cause or reopening date.
Swell pauses swETH and rswETH deposits and withdrawals after the contracts reported abnormally high exchange rates. The Ethereum staking protocol announced the halt early Friday, October 23.
The swETH contract showed a rate near 1.203 ETH, while rswETH stood near 1.138 ETH. Both figures sit roughly 6% and 5% above normal levels.
Swell said no ETH has left the affected contracts. However, the team has not confirmed a cause or given a reopening date.
Exchange Rates Rise Above Normal Levels
Swell announced the pause at 2:39 a.m. ET on Friday. The team said its next step is returning the net asset value (NAV) of both tokens to the correct level. Deposits and withdrawals stay closed until then.
At 4:48 p.m. ET, Unchained’s read of the contracts showed swETH at about 1.203 ETH. The rswETH rate stood near 1.138 ETH. On-chain analyst Spreek had identified the last clean rates as 1.133 ETH and 1.082 ETH.
On decentralized exchanges, swETH traded near 1.089 WETH in a Uniswap pool with about $143,000 in liquidity. Meanwhile, rswETH traded near 1.029 WETH on Curve. Both market prices sit below the rates the contracts report.
According to DefiLlama, swETH holds about $29 million. The rswETH token holds roughly the same amount. So far, Swell has not offered guidance on trading or providing liquidity.
Admin Key Compromise Suspected, Cause Unconfirmed
Spreek posted on Wednesday, October 21, that admin keys for both tokens appeared compromised. He wrote that NAV was rising by “max 1% (unbacked) each hour” at the time.
He also identified four malicious upgrade contracts able to take about 2,500 ETH. None had been queued through Swell’s multisig.
Odysseus, founder of Phylax Systems, described the incident as “BOT-key abuse.” He added that the 2,513 ETH held “is NOT confirmed loss.” His comments came shortly after Spreek’s initial warning.
Swell responded at 11:03 p.m. ET that it was working with security partners. The team stated that “no ETH has left” the swETH or rswETH withdrawal or deposit contracts. It later wrote, “All funds are safe.” In addition, the team warned that such events can bring more phishing attempts.
Both researchers raised a possible link to Railway, a cloud deployment platform. Railway said in an October 21 disclosure that an “unauthorized third party” may have read some encrypted environment variables.
Its disclosure does not mention Swell, and Swell has not confirmed a connection. Spreek’s report, which he said was AI-written and not fully checked, found that Aave, Spark, and Fluid accepted neither token. A Morpho market had about 34 ETH available to borrow.
TLDR: Arthur Hayes says Hyperliquid proved on-chain perpetual futures have real demand and a working product. He sees HYPE’s main risk as underperforming ETH and ZEC rather than necessarily losing money. Perpetual DEXs face rising competition as products, features, and fees become increasingly similar. Hayes sold all his HYPE and NEAR holdings just days after publicly setting a $150 HYPE price target. Arthur Hayes, the founder of BitMEX, said Hyperliquid has proven that demand exists for on-chain perpetual futures markets.
On October 16, however, he warned that HYPE has become a consensus trade, which has weakened its risk-reward profile.
According to Hayes, the main danger is not a price collapse. Instead, HYPE may trail other crypto assets, including ETH and ZEC, over the coming period. His comments came in a post that praised the product but questioned the investment case.
Why Hyperliquid Faces Tougher Competition Arthur Hayes acknowledged that Hyperliquid built a product traders actually use. Trading volume is present, and the platform works as intended. He also said he is willing to use its products as a consumer. Even so, he does not want to take part as an investor.
Arthur Hayes: HYPE Could Significantly Underperform ETH and ZEC
On October 16, BitMEX founder Arthur Hayes @CryptoHayes stated that Hyperliquid has demonstrated genuine demand for on-chain perpetual futures markets. However, as the sector has become a consensus trade, HYPE's… pic.twitter.com/HwmsjbR5QT
— Wu Blockchain (@WuBlockchain) October 23, 2026
A great product does not always translate into a strong investment, according to Hayes. Perpetual DEXs now face rising competition as their offerings become more alike.
Centralized exchanges, traditional exchanges, and a growing list of decentralized rivals all offer similar products. In this setting, features and fees are easy to match.
When rivals match features and fees, returns on capital tend to shrink. As a result, success depends on execution, distribution, incentives, and token economics.
Hayes sees this as a difficult setup for investors to underwrite. Each of these factors can shift quickly as new platforms launch.
Hayes also pointed to HYPE’s reputation as a widely recognized perp-DEX success story. Because the trade is crowded, he believes the token offers less room to re-rate. The question, in his view, is whether HYPE delivers the best risk-adjusted return from here.
Why ETH and ZEC May Offer Better Setups Arthur Hayes argued that HYPE could underperform without falling in price. Holders may lose ground simply because other assets rise faster.
This is the core risk he described, rather than a direct loss of capital. Relative performance, therefore, matters more than absolute price in his view.
ETH has the scale, security, and institutional DeFi narrative to attract capital. If the market rotates back toward large-cap crypto, it could benefit.
Hayes sees that setup as stronger than HYPE’s current position. He treats ETH as a more established option for investors seeking exposure.
ZEC offers a different kind of bet. It is a higher-risk way to express demand for privacy and scarce assets. Hayes noted that both ETH and ZEC could surprise investors if liquidity expands. He added that being early to a crowded winner may appeal less when capital chases upside.
Arthur Hayes previously set a $150 price target for HYPE. Days later, he announced that he had sold all his HYPE and NEAR holdings.
Hyperliquid founder Jeff Yan has advocated for U.S. regulatory frameworks to focus on market operators rather than the blockchain itself. The proposal aims to facilitate legal access to Hyperliquid in the United States by shifting compliance obligations to identifiable operators. This development emerges as Hyperliquid, a decentralized perpetual-futures protocol, experiences a slight decline in its HYPE token value, which is currently priced between $76 and $78. The market has been observing a 20% drop from its September all-time high of $98.04, highlighting ongoing regulatory challenges and market dynamics.
Key Takeaways
Jeff Yan’s proposal suggests U.S. regulatory frameworks should focus on market operators, not blockchain technology, potentially influencing future market sentiment.
Hyperliquid’s HYPE token has seen a 1%–3% drop over 24 hours, priced around $76–$78, with continued pressure from regulatory uncertainties.
The market for Hyperliquid reaching $100 by year-end shows a 29% YES probability, down from 37% the previous day, which appears consistent with mixed sentiment on regulatory clarity.
What to Watch
Market participants will be closely monitoring any regulatory developments that align with Jeff Yan’s proposal, as these could impact Hyperliquid’s market access and token performance. Any announcements from U.S. regulatory bodies regarding changes in compliance frameworks may alter existing market dynamics. Additionally, shifts in market sentiment could be observed if Hyperliquid announces partnerships or technological advancements that align with U.S. regulatory expectations.
Bitcoin Treasury Company purchased nearly 136,000 BTC via preferred stock financing, exceeding 0.5% of Bitcoin's maximum supply.
Fidelity data shows that as of October 5, 2025, bitcoin treasury firms including Strategy and Strive have used related preferred stock financing to purchase 135,979 BTC, accounting for over 0.5% of bitcoin’s total maximum supply. The market size of this type of preferred stock is approximately $120 billion.
Analysts note these firms face a balancing act between using perpetual preferred stock financing to buy bitcoin and sustaining dividend payments. Perpetual preferred stock has no fixed maturity date, easing refinancing pressure and attracting income-focused investors reluctant to hold bitcoin directly. However, as issuance scales up, dividend expenses will rise.
Analysts add that sustained financing for bitcoin purchases depends on preferred stock trading at or near par value; if it trades below par, new issuances will become less attractive, and firms may lean toward buybacks.
CoinShares Head of Research James Butterfill points out that Strategy’s latest weekly report shows the firm spent $193 million to repurchase STRC, bought only 267 BTC in the same period, and raised its preferred stock repurchase authorization cap to $30 billion. He says buybacks can reduce future dividend costs, but also compete with current bitcoin purchases for capital.
Bitwise Head of Research Ryan Rasmussen forecasts that ETFs will remain a larger source of bitcoin demand in the long run, while perpetual preferred stock caters to a distinct group of income-focused investors, providing a second stream of demand support.
Butterfill believes preferred stock could amplify market cycles: it supports bitcoin purchases when financing conditions are favorable, but that support weakens when market sentiment deteriorates.
4 hours ago
A crypto whale’s $214 million ETH long positions face liquidation risk, with liquidation prices set at $2256.45 and $2226.53 respectively.
According to Lookonchain’s monitoring, if the market continues to decline, a whale’s long position of 93,184 ETH (valued at approximately $214 million) may face liquidation, with liquidation prices at $2256.45 and $2226.53 respectively.
4 hours ago
Whale's $214M $ETH Long Position at Risk of Liquidation if Market Drops
Don't forget about this massive $ETH bull!
If the market keeps dropping, this whale's 93,184 $ETH ($214M) in long positions could get liquidated.
Liquidation prices: $2,256.45 and $2,226.53.
4 hours ago
Bitcoin fell below $80,000, altcoins saw sharp pullbacks, with Q plunging over 34% and PHA and CT both dropping more than 22%.
According to HTX market data, as Bitcoin pulled back below $80,000, altcoins saw sharp declines. The following tokens recorded notable 24-hour drops: Q is priced at $0.080162, down 34.35%; PHA at $0.0499, down 24.38%; CT at $0.1619, down 22.22%; SOPH at $0.001458, down 17.95%; FARTCOIN at $0.122, down 16.78%; "4" at $0.011367, down 14.99%; WLD at $0.462, down 12.80%; and PONS at $0.2239, down 12.30%.
4 hours ago
Machi Liquidated 5 Times in 1 Hour, Account Down to ~$5K
Machi (@machibigbrother) got liquidated 5 times in just 1 hour!
He now has only ~$5K left in his account.
4 hours ago
Ethereum falls below $2,300
According to HTX market data, Ethereum has fallen below $2,300, with a 4.31% decline in the past 24 hours.
New York Attorney General Letitia James is pursuing over a billion dollars from the operators of a fraudulent cryptocurrency scheme that infiltrated prayer groups and immigrant communities with false promises of easy riches.
Attorney General James filed a motion seeking $1.3 billion in damages and disgorgement from the founders of NovaTech, Cynthia and Eddie Petions, following a default judgment in August after they fled the US.
In June 2024, New York Attorney General Letitia James sued cryptocurrency trading firm NovaTechFX and cryptocurrency mining company AWS Mining Pty Ltd., accusing them of targeting immigrant communities, particularly Haitian New Yorkers, with fraudulent promises of high investment returns. According to the lawsuit, the companies promoted their schemes through prayer groups, social media and WhatsApp group chats while operating illegal pyramid schemes.
AWS Mining, its promoters and the Petions promised investors 15% to 20% monthly gains, 200% returns on investments within 15 months and bonuses for signing up new investors. However, the company generated insufficient returns, if any, to fund its promised monthly profits and recruitment bonuses. The operation ultimately collapsed in 2019, leaving investors with millions of dollars in losses.
Following the collapse of AWS Mining, the Petions launched NovaTech and recruited investors by promising high returns and lucrative referral bonuses. They targeted minority and religious communities, particularly Haitians, using prayer groups, WhatsApp groups chats, Haitian Creole advertisements and religious messages designed to appeal to their faith.
The Petions misrepresented NovaTech as a registered hedge fund broker licensed to trade cryptocurrency in the US. They also advertised weekly trading profits of around 2% to 4%, offered recruitment bonuses and assured investors they could withdraw their funds and profits at any time.
Over $1 billion in crypto was deposited with NovaTech between 2019 and 2023, yet less than $26 million was actually traded before the platform ultimately collapsed in May of 2023, leaving tens of thousands of investors without access to their digital assets.
Four top promoters of AWS Mining contracts and NovaTech’s trading packages, Frantz Ciceron, James Corbett, Ricardo Roy, Sr. and Martin Zizi, have already agreed to pay nearly $6 million in settlements and face permanent bans from securities, commodities, and crypto businesses.
Attorney General Letitia James is condemning the scheme.
“NovaTech and AWS Mining scammed thousands of vulnerable New Yorkers by telling them they were making a safe investment when in reality, they were victims of a pyramid scheme. These scammers targeted immigrant and religious communities with the promise of a better life but instead robbed them of their life savings. My office remains committed to cracking down on unregistered cryptocurrency dealers, and we will always stand up for New Yorkers who have been targeted by these merciless scams.”
The motion follows an August 2025 default order holding the defendants jointly and severally liable for Martin Act violations and illegal chain distribution schemes.
Bitcoin briefly slipped below a level it had closed above every day since mid-September.
Forced closures of leveraged long bets made up most of the day’s liquidations.
Altcoins lost more ground than Bitcoin, lifting its share of the total crypto market.
Bitcoin now trades under two moving averages that supported it for weeks.
Bitcoin slipped below $80,000, touching roughly $79,800 on Binance before buyers lifted it back to about $80,400, as a broad crypto sell-off forced the closure of $645 million in leveraged positions over 24 hours. The level carries weight beyond its round number: Bitcoin has closed above it every day since September 18, and Glassnode data places the average purchase price of publicly listed Bitcoin treasury companies close to $80,000, so a sustained break would push a large group of corporate holders into paper losses.
Longs Took $504 Million of the Damage
Long positions accounted for $504.53 million of the $645.36 million liquidated across crypto in the past day, according to Coinglass liquidation data, while shorts lost $140.83 million. More than a third of that total hit in a single hour, as $233.13 million was liquidated during the drop below $80,000, with longs accounting for $219.93 million and shorts for just $13.20 million. Over the full day, Bitcoin led with $145.79 million, 93.5% of it from longs, and Ether followed at $106.89 million with a 92% long share. IRYS stood out as the exception, with $67.61 million liquidated and 84.5% of that coming from traders who had bet on a decline in the token.
Asset
Liquidated (24h)
Dominant side
Bitcoin (BTC)
$145.79M
Long 93.5%
Ether (ETH)
$106.89M
Long 92.0%
IRYS
$67.61M
Short 84.5%
Solana (SOL)
$23.88M
Mostly long
Zcash (ZEC)
$21.76M
Mostly long
Total market
$645.36M
Long 78%
Source: Coinglass, 24-hour window to October 24.
Why $80,000 Turned Into a Trigger
A liquidation happens when an exchange closes a leveraged trade because the trader’s deposited margin no longer covers the loss. For a long position, that closure is a market sell order, and each forced sale pushes the price toward the next group of positions with thin margin. Coinbase’s research team noted that the largest cluster of net long Bitcoin positions was opened around $81,993, which means a large share of bullish leveraged exposure has been losing money since Bitcoin fell under $82,000 on Thursday. Round numbers such as $80,000 also gather stop-loss orders, so the price had a dense layer of automatic selling waiting just beneath it.
The cleanup looks incomplete. Bitcoin futures open interest, which measures the total value of contracts still open, stood at $53.58 billion early Saturday according to Coinglass, above the $52 billion area it occupied for much of the late summer. Leverage that survives a flush can either fuel a fast rebound through short covering or feed a second wave of forced selling if support gives way.
Bitcoin futures open interest plotted against BTC price on Coinglass
Altcoins Fell Faster Than Bitcoin
Total crypto market capitalization dropped 1.56% to $2.69 trillion, and most large caps underperformed Bitcoin’s 1.86% daily decline, which keeps Bitcoin’s share of the market near 60%. Ether slid 2.56% to $2,327.93, extending a weak October in which U.S. spot Ether ETFs lost $1.08 billion through October 21, their largest monthly outflow of 2026 according to SoSoValue ETF data. Solana dipped below $100 for the first time since early September, when it broke out of a seven-month stretch under that level. BNB was the only top-ten non-stablecoin still in positive territory on a weekly basis.
Asset
Price
24h / 7d
Ether
$2,327.93
-2.56% / -3.93%
BNB
$726.17
-2.42% / +0.83%
XRP
$1.26
-3.06% / -2.39%
Solana
$99.91
-3.96% / -4.00%
Zcash
$1,131.46
-7.79% / -2.93%
Hyperliquid
$74.97
-3.51% / -4.95%
Prices as of October 24. Source: CoinMarketCap
Hot Inflation and ETF Exits Drained Demand
Pressure on Bitcoin had been building since mid-October, when U.S. consumer prices rose 3.7% year over year in September, up from 3.4% in August according to the Bureau of Labor Statistics CPI report, and a hotter producer price reading the following day revived talk that the Federal Reserve could tighten again. Spot Bitcoin ETF flows have swung hard since then. The funds took in about $528 million on October 21, then lost roughly $636 million in the next session, per Farside Investors ETF flow data. An ETF outflow hits the spot market directly, because the issuer sells Bitcoin from its holdings to pay out redeeming shareholders.
What the 4-Hour Chart Shows
BTC/USDT 4-hour chart. Source: TradingView, Alexander Stefanov
Bitcoin was rejected near $85,000 on October 21 and has since dropped back under its 200-period exponential moving average on the 4-hour chart, now at $82,024, a line it had been trading around for most of the past two weeks. The same $79,800 to $80,000 zone stopped the decline on October 15, which makes Saturday the second test in ten days. The relative strength index sits at 33.21, which shows that sellers have controlled most 4-hour candles since Wednesday without yet reaching the near-30 readings seen on October 9, just before a rebound that carried Bitcoin to $84,000 by October 12. On the daily chart, Bitcoin closed below its 50-day average near $81,784 on October 23, ending a run of 66 consecutive closes above it that began in August.
Where Treasury Holders Start Losing Money
Bulls need a return above the $81,500 to $82,000 band, where the 4-hour EMA, the 50-day average and the main cluster of long entries now overlap, before the pressure eases. A daily close under $80,000 would instead leave treasury companies with reported losses on average and raise the risk of selling from smaller holders that carry debt or dividend obligations. The next support on the chart sits around $78,000, where Bitcoin consolidated in mid-September before its run to $87,000. Weekend order books are thinner, so the first real read on institutional demand will come when ETF trading resumes on Monday.
Options traders had already scaled back their year-end expectations before Saturday’s dip. Nick Forster, founder of the crypto options platform Derive.xyz, said after the mid-October slide that the market-implied chance of Bitcoin reaching $100,000 by Christmas had fallen to 9.7%. With the Federal Reserve meeting on October 27-28 and the September inflation figure still running above the August pace, the rate decision now carries more weight for Bitcoin’s direction than any crypto-specific catalyst on the calendar.
Alex is a financial markets journalist and co-founder of Millennial Media Group, and he's spent close to ten years trying to answer one stubborn question: what's really driving this?
It started in 2016, when Bitcoin refused to make sense to him - and rather than shrug, he stayed with it until it did. That patience became his method. He's less interested in what an asset is doing today than in the plumbing behind it: how liquidity flows, where risk hides, what a chart is quietly telling you that the headline isn't. That lens eventually stretched well past crypto into traditional markets, because the same forces - fear, leverage, incentives, timing - show up everywhere once you know how to look.
Most coverage, in his view, insults the reader by stopping at the surface. Price up, price down, moving on. He'd rather leave someone genuinely understanding a move than merely informed that it happened.
His path into markets ran through a Tourism degree at New Bulgarian University - proof, maybe, that curiosity beats credentials. With more than 200 deep analyses and over 10,000 articles behind him, he still walks away from most trading days having learned something he didn't know that morning.
The U.S. is quickly evacuating personnel across the Middle East on threat of Iranian attacks, the WSJ reported.Crypto prices are in broad decline on Saturday, with bitcoin slipping to its weakest level in more than one month.The U.S. is quickly evacuating personnel from embassies and military bases throughout the Middle East as intelligence suggests Iran is prepping attacks against Americans, the WSJ reported Saturday morning.
“Iran has substantially increased efforts to target U.S. personnel,” wrote Jay Clayton, the director of national intelligence, in a Friday memo to Secretary of State Marco Rubio. “The lethal plotting efforts by the Iranians against U.S. citizens have reached advanced stages in both the Middle East and certain other countries.”
These evacuations appear to go well beyond reports from earlier this week that the U.S. was ordering some diplomatic staff in Saudi Arabia to vacate.
President Trump, meanwhile, has threatened a re-escalation in the war against Iran after the midterms in early November. “We may do another little ‘Epic Fury,’” Trump said at a rally in Florida on Friday.
Crypto prices are sinking to multi-week lows, with bitcoin now down by 2.2% over the past 24 hours to $79,700. Ether, XRP, and solana are down in the 3%-4% range.
The Internal Revenue Service (IRS) has announced plans to address cryptocurrency-related tax issues through its general voluntary disclosure program. This initiative aims to consider lower penalties and offer payment plans, indicating a potential easing of compliance burdens for U.S. cryptocurrency taxpayers. This move keeps crypto within the same disclosure process as other tax violations, rather than establishing a separate channel. While the development suggests a shift in the IRS’s approach, specifics on penalty reductions and eligibility are yet to be finalized. The market appears to view these changes as potentially easing regulatory concerns, which could influence Bitcoin’s price projections.
Key Takeaways
The IRS’s decision to use its general voluntary disclosure program for crypto suggests a shift in regulatory approach.
Market participants may perceive this as potentially reducing compliance burdens, supportive of more optimistic scenarios for Bitcoin’s price.
The lack of a crypto-specific disclosure channel indicates the IRS’s intent to streamline processes across tax issues.
What to Watch
Observers should monitor for further details from the IRS regarding penalty structures and program eligibility, as these could impact market sentiment. Additionally, any formal announcements or clarifications from the IRS could provide clearer indicators of the potential regulatory landscape for cryptocurrency in the U.S. These developments may influence Bitcoin price predictions, particularly in scenarios where regulatory clarity encourages institutional adoption.
Bitcoin price slipped below $80,000 on Saturday, dropping 1.91% over 24 hours to $79,994.97 during the initial decline.
The retreat coincided with heavy liquidations, ETF withdrawals and growing uncertainty over US monetary policy and Iran. Losses spread across major tokens as the broader cryptocurrency market also declined during weekend trading.
Bitcoin Price Crash Deepens as Leveraged Long Liquidations Surge Cryptocurrency long liquidations reached $219 million within one hour as Bitcoin slipped below a psychological threshold. The decline marked Bitcoin’s first move beneath $80,000 since October 15.
Forced closures intensified selling pressure as falling prices left traders unable to maintain sufficient collateral. Over $200 million in longs liquidated in just 15 minutes.
Over $200 million in longs liquidated in just 15 minutes. https://t.co/EdzaVu4HJH
— Bull Theory (@BullTheoryio) October 24, 2026
The Fear and Greed Index stood at 42, placing broader market sentiment within neutral territory.
Spot Bitcoin ETF Outflows Add to Selling Pressure US spot Bitcoin ETFs registered approximately $635.6 million in net withdrawals on October 22, reversing the previous session’s positive flows. BlackRock’s IBIT accounted for $254.1 million, while Fidelity’s FBTC lost $217.5 million during the session. Withdrawals continued Friday, with another $137.9 million leaving Bitcoin ETFs before weekend trading.
Spot Bitcoin ETFs Recorded $635M in Net Outflows on October 22
On October 22 (ET), spot Bitcoin ETFs recorded total net outflows of $635M, led by BlackRock’s IBIT with $254M. Spot Ethereum ETFs recorded total net outflows of $111M, led by BlackRock’s ETHA with $75.45M. https://t.co/Vj2TzNyR03
— Wu Blockchain (@WuBlockchain) October 23, 2026
US spot Ethereum ETFs also experienced substantial withdrawals, totaling approximately $110.6 million on the same date. BlackRock’s ETHA led those losses with roughly $75.5 million, reflecting reduced exposure through Ethereum investment products.
Fed Meeting and US Midterm Elections Fuel Bitcoin Uncertainty The Federal Reserve will meet October 27–28, placing monetary policy firmly on the market’s immediate calendar. September personal consumption expenditures inflation data follows on October 29, adding another scheduled event after the interest rate decision.
Fedwatch data The November 3 US midterm elections add another approaching event for cryptocurrency markets and financial investors. Congressional control could affect the direction of legislation, including proposals concerning digital assets and financial market oversight. However, the approaching vote alone does not establish why Bitcoin declined during this particular trading session.
Iran Strike Fears Weigh on Bitcoin and Broader Crypto Markets Geopolitical concerns also intensified after President Donald Trump raised the possibility of further military action against Iran. His October 23 remarks introduced another source of uncertainty without providing details about timing or operational plans. Potential escalation adds uncertainty surrounding energy supplies, inflation and demand for assets considered sensitive to financial risk.
Ethereum fell below $2,300, while XRP traded near $1.25 and Solana broke beneath $100 during the selloff. Dogecoin and Cardano also weakened as losses extended across major cryptocurrencies. The broader market initially declined 2.19% to $2.68 trillion, underscoring the selloff’s reach beyond Bitcoin and leveraged derivatives.
Fidelity data shows that as of October 5, 2025, bitcoin treasury firms including Strategy and Strive have used related preferred stock financing to purchase 135,979 BTC, accounting for over 0.5% of bitcoin’s total maximum supply. The market size of this type of preferred stock is approximately $120 billion. Analysts note these firms face a balancing act between using perpetual preferred stock financing to buy bitcoin and sustaining dividend payments. Perpetual preferred stock has no fixed maturity date, easing refinancing pressure and attracting income-focused investors reluctant to hold bitcoin directly. However, as issuance scales up, dividend expenses will rise. Analysts add that sustained financing for bitcoin purchases depends on preferred stock trading at or near par value; if it trades below par, new issuances will become less attractive, and firms may lean toward buybacks. CoinShares Head of Research James Butterfill points out that Strategy’s latest weekly report shows the firm spent $193 million to repurchase STRC, bought only 267 BTC in the same period, and raised its preferred stock repurchase authorization cap to $30 billion. He says buybacks can reduce future dividend costs, but also compete with current bitcoin purchases for capital. Bitwise Head of Research Ryan Rasmussen forecasts that ETFs will remain a larger source of bitcoin demand in the long run, while perpetual preferred stock caters to a distinct group of income-focused investors, providing a second stream of demand support. Butterfill believes preferred stock could amplify market cycles: it supports bitcoin purchases when financing conditions are favorable, but that support weakens when market sentiment deteriorates.
According to HTX market data, as Bitcoin pulled back below $80,000, altcoins saw sharp declines. The following tokens recorded notable 24-hour drops: Q is priced at $0.080162, down 34.35%; PHA at $0.0499, down 24.38%; CT at $0.1619, down 22.22%; SOPH at $0.001458, down 17.95%; FARTCOIN at $0.122, down 16.78%; "4" at $0.011367, down 14.99%; WLD at $0.462, down 12.80%; and PONS at $0.2239, down 12.30%.
Bitcoin Treasury Company purchased nearly 136,000 BTC via preferred stock financing, exceeding 0.5% of Bitcoin's maximum supply.
Fidelity data shows that as of October 5, 2025, bitcoin treasury firms including Strategy and Strive have used related preferred stock financing to purchase 135,979 BTC, accounting for over 0.5% of bitcoin’s total maximum supply. The market size of this type of preferred stock is approximately $120 billion.
Analysts note these firms face a balancing act between using perpetual preferred stock financing to buy bitcoin and sustaining dividend payments. Perpetual preferred stock has no fixed maturity date, easing refinancing pressure and attracting income-focused investors reluctant to hold bitcoin directly. However, as issuance scales up, dividend expenses will rise.
Analysts add that sustained financing for bitcoin purchases depends on preferred stock trading at or near par value; if it trades below par, new issuances will become less attractive, and firms may lean toward buybacks.
CoinShares Head of Research James Butterfill points out that Strategy’s latest weekly report shows the firm spent $193 million to repurchase STRC, bought only 267 BTC in the same period, and raised its preferred stock repurchase authorization cap to $30 billion. He says buybacks can reduce future dividend costs, but also compete with current bitcoin purchases for capital.
Bitwise Head of Research Ryan Rasmussen forecasts that ETFs will remain a larger source of bitcoin demand in the long run, while perpetual preferred stock caters to a distinct group of income-focused investors, providing a second stream of demand support.
Butterfill believes preferred stock could amplify market cycles: it supports bitcoin purchases when financing conditions are favorable, but that support weakens when market sentiment deteriorates.
4 hours ago
A crypto whale’s $214 million ETH long positions face liquidation risk, with liquidation prices set at $2256.45 and $2226.53 respectively.
According to Lookonchain’s monitoring, if the market continues to decline, a whale’s long position of 93,184 ETH (valued at approximately $214 million) may face liquidation, with liquidation prices at $2256.45 and $2226.53 respectively.
4 hours ago
Whale's $214M $ETH Long Position at Risk of Liquidation if Market Drops
Don't forget about this massive $ETH bull!
If the market keeps dropping, this whale's 93,184 $ETH ($214M) in long positions could get liquidated.
Liquidation prices: $2,256.45 and $2,226.53.
4 hours ago
Bitcoin fell below $80,000, altcoins saw sharp pullbacks, with Q plunging over 34% and PHA and CT both dropping more than 22%.
According to HTX market data, as Bitcoin pulled back below $80,000, altcoins saw sharp declines. The following tokens recorded notable 24-hour drops: Q is priced at $0.080162, down 34.35%; PHA at $0.0499, down 24.38%; CT at $0.1619, down 22.22%; SOPH at $0.001458, down 17.95%; FARTCOIN at $0.122, down 16.78%; "4" at $0.011367, down 14.99%; WLD at $0.462, down 12.80%; and PONS at $0.2239, down 12.30%.
4 hours ago
Machi Liquidated 5 Times in 1 Hour, Account Down to ~$5K
Machi (@machibigbrother) got liquidated 5 times in just 1 hour!
He now has only ~$5K left in his account.
4 hours ago
Ethereum falls below $2,300
According to HTX market data, Ethereum has fallen below $2,300, with a 4.31% decline in the past 24 hours.
The expected recovery in Bitcoin did not materialize, and sales today pushed the price below a critical threshold. BTC fell below $80,000 for the first time since October 15th, returning to the area it tested nine days ago.
According to the data, the lowest level recorded during the day was approximately $79,165. At the time of writing, Bitcoin was trading at around $79,650 according to CoinGlass data, with a loss of nearly 2.5% in the last 24 hours.
Iran Tensions Back on the Agenda
One of the key headlines accompanying today’s sales was news that military tensions between the US and Iran could escalate again.
Bloomberg reported today that Donald Trump is preparing to increase military pressure on Iran following the elections in the US and Israel. The report highlighted Trump’s messages suggesting that attacks could resume after the US midterm elections on November 3rd.
From a market perspective, concern is not limited to the military dimension of a potential conflict. Risks in energy supply affect oil prices, and more expensive oil impacts inflation expectations. This fuels anxieties that interest rates may remain high for longer, making it more difficult for risky assets like Bitcoin to recover.
No Strong Buying Support Coming from the US
The strength of demand to match sales is also questionable. CoinGlass’s Coinbase Bitcoin Premium Index has been in negative territory for 31 days. The current indicator is approximately at minus 0.13 percent.
The index compares the Bitcoin price on Coinbase to the price on Binance. A negative value indicates that Bitcoin is priced lower on Coinbase, where it trades against the US dollar. This suggests that buyers are weaker or selling pressure is stronger in the US market compared to the global market.
The fact that this indicator is still negative as Bitcoin loses its $80,000 support level highlights the lack of strong spot demand to halt the decline.
Crypto analyst Ted Pillows stated in a post on X today that Bitcoin and Ethereum faced selling pressure at the end of a low-liquidity week.
The liquidity problem highlighted by Pillows is significant in terms of the impact of sales on price. When there aren’t enough buyers in the order book, sell orders can be fulfilled at lower prices. The forced closing of leveraged positions can also accelerate this movement.
Yi Lihua, in his post today, pointed to a broader issue. Arguing that the crypto sector is going through a weak period, the investor stated that the AI sector is attracting significant capital and skilled workers. While maintaining optimism about the overall trend, Yi added that patience is needed.
As the price declined, investors expecting a rise closed their positions one after another. According to updated data from CoinGlass, approximately $828.28 million worth of liquidations occurred in the last 24 hours. Of this, $698.51 million was from long positions and $129.77 million from short positions.
Of the approximately $430 million in liquidations in the last four hours, $404 million was from long positions. Thus, 94% of the liquidations during this period came from upward-trending trades.
The decline in Bitcoin has spread to other major cryptocurrencies. Ethereum fell below $2,300, and Solana dropped below $100. The short-term focus of the market is now on whether Bitcoin can regain $80,000.
*This is not investment advice.
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Bitcoin dropped below 80000 dollars this Saturday, dragging the rest of the crypto market down with it. Geopolitical concerns in the Middle East accelerated a movement already driven by liquidations, the retreat of institutional investors, and weak liquidity during the weekend.
In brief
Bitcoin falls below 80000 dollars and drags main cryptos in its decline.
Tensions in the Middle East increase investor concerns and intensify pressure on the market.
Nearly 670 million dollars of crypto positions were liquidated in 24 hours, amplifying the drop.
Weak weekend liquidity and Bitcoin ETF outflows further weaken the market.
Bitcoin’s return above 80000 dollars remains crucial for considering a sustained rebound.
The crypto market erases its weekly rebound
Bitcoin touched about 79750 dollars, its lowest level in nine days. It had approached 85000 dollars on Wednesday before losing more than 5000 dollars in a few sessions. This new dip below 80000 dollars is the second observed within about ten days.
The main altcoins followed the move. Ether fell below 2350 dollars, while XRP extended its decline below 1.30 dollars. Solana dropped below 100 dollars for the first time since early September.
Available data at the time of the drop allows measuring the scope of the movement :
Bitcoin reached a low near 79750 dollars ;
About 670 million dollars of positions were liquidated in 24 hours ;
More than 213000 traders faced forced position closures ;
Some 220 million dollars of long positions disappeared in a few hours ;
The largest single liquidation reached nearly 12 million dollars on Binance.
Less capitalized assets recorded even heavier losses. NEAR notably gave up more than 10%, while Zcash fell about 7.5%. This difference illustrates a frequent mechanism: when investors reduce risk exposure, altcoins usually suffer more than bitcoin.
Tensions in the Middle East weigh on risky assets
The decline intensified after the announcement of new U.S. security measures in the Middle East. The State Department ordered the departure of non-essential government employees and their families in Saudi Arabia. Several other embassies in the region also reduced their staff without receiving a general evacuation order.
This decision comes after a multiplication of attacks by the Houthis, supported by Iran, against Saudi civilian and energy infrastructure. U.S. officials also mentioned Iranian plans targeting U.S. citizens, which have reached an advanced stage.
State Department spokesperson Tommy Pigott stated that the Houthis intensified their attacks against civil airports and critical infrastructure. U.S. authorities now fear an extension of the conflict, which could further disrupt maritime transport and energy supply.
The Brent price thus reached about 117 dollars on Friday. A sustained rise in oil could fuel inflation and reduce the Federal Reserve’s maneuvering room. This scenario penalizes cryptocurrencies since high rates make bonds and interest-bearing investments more attractive compared to yield-free assets.
However, geopolitics alone does not explain bitcoin falling below 80000 dollars. The market was already affected by rising bond yields, a strong dollar, and capital outflows in U.S. Bitcoin ETFs. Weekend announcements mainly acted as a catalyst for an already fragile structure.
Liquidations amplify bitcoin’s drop
Leverage turned this decline into a more brutal movement. A liquidation occurs when a platform automatically closes a trader’s position whose collateral no longer covers losses. In the case of a long position, this closure causes an additional sale on an already bearish market.
Nearly 670 million dollars of crypto positions were liquidated in 24 hours. Over 200 million disappeared during the fastest phase of the decline, with a clear majority of bullish bets.
The weekend period increases this risk. Volumes are often lower than on weekdays and traditional financial markets are closed. A large sell order can then cause a disproportionate variation, reach several liquidation thresholds, and trigger a chain reaction.
The 80000 dollars level is now the first zone to reconquer. A sustained return above this threshold would reduce immediate pressure, but the zone between 84000 and 85000 dollars remains significant resistance. Conversely, a new acceleration below 79000 dollars would expose the market to long positions still concentrated around 78500 dollars.
Oil price evolution, U.S. decisions in the Middle East, and ETF flows will provide the next signals. As long as these three factors remain unfavorable, a bitcoin rebound could remain fragile.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019.
Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Solana (SOL) briefly slipped under $100 on Saturday, three days after its biggest network upgrade went live, as ETF outflows and a market-wide wave of liquidations weighed on the token.
Key Takeaways
Alpenglow went live; SOL fell 5% next day.
US Solana ETFs shed $30.3M in five days.
Market-wide liquidations top $816M, 84% longs.
SOL down 15% in October, Bitcoin about 4%.
Binance’s SOL/USDT daily chart on TradingView shows the token about 19% below its recent swing high, trading near $100.8 with the daily candle still open.
Upgrade day ended at resistance
Solana switched on Alpenglow on Wednesday, replacing TowerBFT, the consensus system the network had run since 2020. Solana’s official account on X said finality “just went from ~12.8 seconds to ~150ms.” For exchanges crediting deposits and merchants taking payments, that means a transaction becomes irreversible in a fraction of a second instead of several seconds, according to Anza, the engineering firm behind the upgrade. The 150ms figure still awaits independent measurement.
The token did not get the same lift. SOL rallied to about $109 on upgrade day, straight into its main resistance cluster, and gave the move back with a drop of about 5% the next session.
Where the selling came from
Two forces have worked against SOL since then, one specific to Solana and one hitting the whole market.
Fund flows (SoSoValue)
$30.3M net out of US spot Solana ETFs in the five trading days to October 22
About $8.5M out on October 22, with no fund taking in money
Net inflows on just two October days through October 22
Leverage (CoinGlass, 24h)
$816M in crypto futures liquidated market-wide
196,239 traders liquidated
Largest single liquidation: an $11.85M Ether position on Binance
Longs 84.3% · $688M
Shorts 15.7% · $128M
Most of the liquidations hit in the final 12 hours of that window, as Bitcoin slid toward $80,000. On their own, the numbers do not say whether SOL has a problem of its own or is simply caught in a falling market. The October scorecard does.
SOL
−15%
Bitcoin
−4%
Approximate change from each coin’s October open.
SOL is down about 15% from its October open near $118, while Bitcoin, trading near $80,500 on Saturday, has lost roughly 4% over the same stretch. The market-wide flush explains the timing of Saturday’s drop. It does not explain why SOL has fallen nearly four times as far as Bitcoin this month, and the steady drain from the ETFs is the clearest Solana-specific reason.
Three tests of $100
The round number carries extra weight because it also sits on the 0.382 Fibonacci retracement of SOL’s move from about $60 to $125.
Oct 15
Low just above $100, and buyers stepped in.
Oct 18
A second low just above $100, followed by the bounce that carried SOL into upgrade day.
Oct 24
An intraday low near $98.6 before price climbed back above $100.
The first two tests held on a closing basis. Saturday’s was the first to trade through the level, which makes the daily close the number to watch.
Levels above and below $100
●
Recent swing high
~$124.9
+24%
●
50-day SMA + 0.236 Fib
~$109.6
+9%
◆
Current price
~$100.8
–
●
0.382 Fib + $100 round number
~$100.1
−1%
●
100-day SMA to 0.5 Fib
~$92.4–$96.5
−4% to −8%
●
200-day SMA
~$88.3
−12%
●
Golden pocket (0.618-0.65 Fib)
~$82.7–$84.8
−16% to −18%
●
0.786 Fib
~$73.9
−27%
The 50-day SMA supported SOL through September and early October before rolling over, and it now caps rallies alongside the 0.236 Fib. Below $100, there is a gap of about 4% before the next support, so a clean break would leave little to slow a move until the 100-day SMA. The 100- and 200-day averages are both still rising, which keeps the long-term trend pointing up.
The case for each side
Bulls can argue that Saturday’s break came in the middle of a market-wide liquidation wave, the kind of forced selling that can fade once leveraged positions are cleared.
Bears can point to the size of the ETF drain. The $30.3 million that left in five trading days equals about 2% of the roughly $1.53 billion the US Solana funds hold, a steady withdrawal of the kind of patient demand that usually turns a relief bounce into a recovery.
Potential Moves (not a forecast)
SOL is clinging to $100, with the $109.6 resistance cluster overhead and the $92.4–$96.5 zone below.
↗ If $100 holds: A daily close back above $105, roughly halfway to resistance, could set up a retest of the 50-day SMA and 0.236 Fib.
↘ If $100 gives way: A daily close below it before the end of October could open a slide toward the 100-day SMA and 0.5 Fib.
◎ Bigger picture: The 200-day SMA sits just above the golden pocket. Holding it would keep the long-term structure intact, while losing it would put the golden pocket in play.
Method: daily SOL/USDT candles from Binance on TradingView, with the latest candle still open. Fibonacci levels run from the recent swing low to the swing high. Liquidation figures are a CoinGlass snapshot from Saturday evening. October performance is measured from each coin’s approximate monthly open.
This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.
Author
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else.
It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other.
What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn?
He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
More than 1,114 XRP were permanently removed from circulation within a single day, according to data from XRPScan, signaling a recent surge in network activity.
XRP burn rate jumps sharplyData showed that 1,114.97 XRP were burned as transaction fees on October 23, representing a 27.5% increase from the previous day’s total of 874.27 XRP. This marked the highest daily burn rate recorded in more than two weeks. The spike comes after a period of subdued activity on the XRP Ledger, with the 30-day average standing at 808.1 XRP burned daily.
DateXRP BurnedOctober 22874.27October 231,114.9730-day Average808.1The current surge in daily burn activity follows the largest spike this month, when more than 8,000 XRP were removed from supply on October 2. Since then, the number of tokens burned each day has continued to fluctuate, influenced by broader trends in network utilization.
Increased network participationThe XRP Ledger, the decentralized infrastructure that facilitates XRP transactions, reduces the total supply by automatically burning a small amount of tokens as a transaction fee with each operation. This process provides not only a check on spam but also makes the asset incrementally more scarce as the network sees higher activity.
Mini dictionary: XRPScan is a third-party blockchain explorer that provides real-time transaction data and analytics for the XRP Ledger, helping users monitor network activity and onchain metrics.
Historically, spikes in the burn rate reflect an uptick in transactions processed on the network. The mechanism not only demonstrates user engagement but can also influence sentiments about XRP’s scarcity in the market.
Network data revealed that a sharp increase in XRP token burns coincided with a noticeable uptick in onchain activity, pushing daily burned amounts well above recent averages.
Market implicationsAlthough XRP’s price has shown mixed movement in recent sessions, analysts often interpret increased burn rates and network activity as constructive signals for the asset’s outlook. While higher burn levels do not directly cause price rises, they contribute to increased scarcity over time, which can positively impact long-term demand.
The XRP Ledger’s use of transaction-based burning continues to offer a transparent method of supply reduction, with daily figures serving as an important real-time indicator of network usage.
Crypto influencer Ash Crypto has suggested that XRP could climb toward $2 once it breaks above a resistance level that has capped its price for several months.
“Once it breaks, $2 will be easy,” Ash Crypto wrote, pointing to the prolonged resistance that XRP has struggled to overcome.
The accompanying chart identifies a multi-month resistance zone around $1.52 to $1.55, where several previous attempts to push higher have failed. XRP remains below this ceiling, leaving a breakout as a key condition for the bullish outlook.
At press time, XRP is trading at $1.27, down 3.4% over the past 24 hours and 14% over the past month.
XRP Faces Key Resistance Near $1.55
The chart shows XRP declining from around $2 at the beginning of 2026 before falling toward the $1.00 region in the summer. The token subsequently staged a rebound, briefly returning to the $1.50 to $1.70 area before encountering selling pressure.
XRP has since pulled back toward $1.30, with the latest candles showing it trading around $1.27–$1.32 on the chart. The marked resistance zone near 1.52–1.55 remains the main barrier separating the current price from a sustained move higher.
A decisive break above this zone would put XRP in a position to challenge higher price levels, with $2 representing Ash Crypto’s next major target. From $1.27, a move to $2 would require a gain of approximately 57%.
However, XRP must first overcome the overhead supply that has repeatedly limited its advances. Failure to break through could leave it trading below resistance or expose it to another pullback.
XRP Price Chart by Ash Crypto showing multi-month resistance.
Can XRP Reach $2?
The chart also highlights curved markings around previous price lows, including the summer bottom near $0.97 and more recent lows around $1.25. These formations suggest attempts to establish higher lows after the summer rebound.
For the bullish scenario to strengthen, XRP would need to maintain its recent lows and regain ground toward the $1.50 resistance zone. A breakout above that range would provide further evidence that buyers are overcoming the selling pressure that has constrained the token for months.
Ultimately, the $2 target remains conditional on XRP clearing the multi-month resistance rather than an established price trajectory.
Break Above $1.65 to Confirm a Bottom
In a recent analysis, XRP commentator Casi Trades argues the token must break above $1.65 to confirm its recent bottom. At the time, XRP traded around $1.33 price after falling from its September peak near $1.65. The token found support around $1.27, which aligns with a key Fibonacci retracement and the analyst’s Elliott Wave target.
Now, Casi identified $1.65 as the critical resistance level. A breakout could open the way toward $2.40 as part of a potential Wave 3 advance. Before reaching that threshold, XRP must overcome intermediate resistance levels near $1.35, $1.40, $1.55, and $1.58.
However, the analyst warned that bottom formation takes time and XRP could retest $1.27 support. If that level breaks, downside targets include $1.10 and potentially $0.87.
A detailed analysis recently examined the growing relationship between Yellow Network, a decentralized finance infrastructure provider, and XRP, the digital asset created by Ripple Labs. Crypto analyst X Finance Bull shared findings that highlight an evolving connection between the two beyond a basic integration.
Chris Larsen’s leadership in Yellow’s fundingChris Larsen, Ripple’s co-founder and executive chairman, led Yellow Network’s $10 million seed funding round. This early backing gave Yellow the resources it needed to develop its current decentralized finance ecosystem.
Shortly after, Yellow Network integrated the XRPL EVM Sidechain—an Ethereum Virtual Machine-compatible extension of the XRP Ledger. XRP and the US dollar-pegged stablecoin USDT are now both supported by this sidechain, which operates with chain ID 1440000. According to Yellow’s official documentation, developers building financial applications within Yellow’s environment can already incorporate XRP.
Chris Larsen, Ripple’s co-founder and executive chairman, led Yellow Network’s $10 million seed round, establishing a direct connection between Yellow and XRP and opening new avenues for collaboration within Yellow’s ecosystem.
As a result, projects on Yellow can leverage XRP as a key asset for payments and balance management.
Mini dictionary: XRPL EVM Sidechain, an EVM-compatible chain that allows Ethereum-based smart contracts and assets to interact directly with the XRP Ledger. Developers can build with Solidity and access XRP’s liquidity on chain ID 1440000.
Yellow’s architecture and on-chain settlementYellow Network’s architecture utilizes state channels—a technology where participants, such as brokers, exchanges, or AI agents, transact off-chain inside secure, funded channels. Final results are periodically settled on-chain, reducing gas fees and increasing the speed of repeated trades.
XRP’s integration becomes significant within this structure. Market makers can hold XRP as working capital for liquidity, brokers can offer client trading balances in XRP, and autonomous agents can use XRP for multiparty settlements. These applications allow for rapid trading without congesting public blockchains.
AI partnerships and connected ecosystemsYellow has expanded its focus on autonomous finance through partnerships with several institutions. The company teamed up with Deep3 Labs to develop AI-driven trading features. It also joined the Internet Court framework, which is operated by the GenLayer Foundation, to help facilitate blockchain-based dispute resolution and settlements between AI agents.
Further, Yellow’s collaboration with MOI Technology enables agents to function under set risk and budget controls. The network’s integration with Arc, Circle’s stablecoin infrastructure, as well as connectivity to the XRP Ledger (XRPL), positions Yellow alongside a growing list of DeFi and payment networks.
Mini dictionary: Yellow Network, a decentralized infrastructure project enabling high-speed, low-cost transactions between cryptocurrency exchanges and trading agents using technology such as state channels.
Projected scenarios for XRP demandX Finance Bull presented hypothetical projections regarding potential XRP demand within the Yellow ecosystem. At a daily volume of $1 billion processed via Yellow, and assuming 20% of trades use XRP with liquidity providers holding two days’ worth of inventory, roughly 289.86 million XRP could be used as working capital, based on an XRP price of $1.38.
If the model is scaled up to $5 billion in daily volume, this figure rises to approximately 1.45 billion XRP. However, these calculations are scenarios intended to illustrate potential future use rather than reflecting present trading volumes.
ScenarioDaily VolumeXRP Usage (20%)Inventory Held (2 Days)XRP PriceXRP NeededBase case$1 billion$200 million$400 million$1.38~289.86 millionExpanded case$5 billion$1 billion$2 billion$1.38~1.45 billionRelationship between YELLOW and XRPThe analyst distinguishes clearly between $YELLOW, the native token of Yellow Network, and XRP. $YELLOW has a fixed maximum supply of 10 billion and serves as collateral and access within Yellow’s services. By contrast, XRP acts as the transaction gas on XRPL EVM, as well as trading liquidity, channel funds, and settlement collateral in supported applications.
X Finance Bull concludes that while $YELLOW develops the network infrastructure, XRP could become essential working capital for applications and agents operating on Yellow’s platform if liquidity needs rise.
The potential for increased developer and broker participation may drive further adoption of XRP for trading, balance management, and settlement within the broader Yellow ecosystem.
XRP influencer Zach Rector believes XRP price could reach $10 through speculation alone, without needing major growth in real-world use.
In a recent post on X, Rector said investors may be overthinking XRP’s price potential by focusing too much on its utility. His comments have sparked debate about whether speculation alone could push XRP to $10.
XRP is currently trading at $1.27. To reach $10, its price would need to rise by about 687%, nearly eight times its current value.
A Look at History Indeed, speculation has often influenced XRP’s price, especially during crypto bull markets when investors buy in hopes of making profits.
XRP showed how quickly its price could rise during the 2017–2018 bull market. It climbed from about $0.006361 in January 2017 to a record high of $3.84 in January 2018 — a gain of more than 60,000%.
At the time, XRP had less institutional interest and ecosystem development than its supporters point to today. This past rally gives some investors hope that another wave of speculation could drive the price much higher.
However, XRP may not repeat that performance. In the 2024-2025 bull market, the coin surged nearly 700% from $0.5 to above $3.66. This price performance continues to shape the expectations of many who believe a $10 price is possible for XRP in the coming years.
XRP Community Questions the $10 Price Prediction Meanwhile, Rector’s prediction has faced criticism from some XRP investors. They argue that speculation alone may not be enough to push the price above $3, especially because more than 60 billion XRP tokens are already in circulation.
Others, such as X user White Fang, questioned why speculation has not already pushed XRP’s price higher if it is enough to drive a major rally.
However, X user Wall-E Santana expressed frustration with repeated price predictions, pointing out that XRP has not risen as much as they expected despite institutional partnerships, ETF inflows, and the end of Ripple’s legal battle with the U.S. SEC.
Others have raised questions about XRP’s usefulness, especially with the launch of Ripple USD (RLUSD) on the XRP Ledger.
These reactions show a clear divide in the community. Some believe speculation could send XRP much higher, while others want to see stronger price growth alongside real-world adoption.
Comments from XRP community members Can XRP Reach $10 Without More Real-World Use? If XRP reaches $10, its market value will rise to between $600 billion and $650 billion, assuming 60 billion to 65 billion tokens are in circulation. That would further cement its position among the largest cryptocurrencies by market value.
Although this target is possible in theory, it requires favorable market conditions. In particular, speculation helps drive the price higher during bull markets due to the frenzy that often follows such events, as seen in 2025.
XRP supporters believe greater use of the XRP Ledger for payments, tokenization, and financial services could increase demand for the token. Critics argue that increased network activity does not automatically mean more people will need to buy XRP.
Ultimately, XRP’s next major rally will depend on speculation, real-world adoption, or both. For now, the $10 target remains ambitious and would require much stronger demand than the market has shown so far.
Ripple has announced that actor and Water.org co-founder Matt Damon will be a featured speaker at the upcoming Swell 2026 conference in New York. David Schwartz, Ripple’s Chief Technology Officer Emeritus, responded with a humorous remark referencing Damon’s movie roles, suggesting Swell is “finally” a place “he won’t need to be rescued from.” The comment referenced the company’s official statement that Damon will join the stage later this month.
Swell 2026 Unites Institutional, Developer CommunitiesFor the first time, the annual XRP ecosystem event will merge Ripple Swell and the XRPL Apex developer summit. The joint conference will take place at The Shed in Hudson Yards from October 27 to 29, and organizers expect more than 1,500 participants. Over three stages and more than 50 sessions, the event aims to bring institutional leaders and XRPL developers together.
Ripple CEO Brad Garlinghouse, President Monica Long, Chief Technology Officer Emeritus David Schwartz, along with Matt Damon and Water.org CEO Gary White, are among the main speakers. The agenda is structured to explore how faster cross-border settlement can directly benefit microfinance partners, rather than focusing on new product launches.
Matt Damon is set to join Ripple leadership and Water.org’s Gary White at Swell 2026, where the agenda centers on using fast cross-border settlement to scale microfinance partnerships globally.
Water.org’s Expanding Use of Ripple Payments and RLUSDWater.org, established in 2009 by Matt Damon and engineer Gary White, partners with local financial institutions to provide low-cost loans for household water and sanitation projects. To date, the organization has mobilized about $7.7 billion, positively impacting nearly 88 million people across Asia, Africa, and Latin America.
Earlier this year, Ripple became the exclusive digital-asset and payments partner for Water.org’s Get Blue campaign, which was introduced at the World Economic Forum in Davos. The campaign seeks to increase access to safe water for 200 million people by 2030. Founding corporate supporters include Amazon, Ecolab, Gap, and Starbucks.
Water.org now routes donations and operational funds through Ripple Payments, using both XRP and Ripple’s dollar-pegged RLUSD stablecoin. This setup reportedly allows seed funding to reach microfinance institutions within minutes, rather than several days, by bypassing traditional banking corridors.
The organization maintains that the integration of Ripple infrastructure has helped shorten transfer times and reduce costs, allowing partner lenders to more quickly deliver small loans for essential water and sanitation systems.
Mini dictionary: RLUSD — A stablecoin issued by Ripple, pegged to the US dollar and designed for use within Ripple’s payments infrastructure to facilitate faster and lower-cost global transactions.
FeatureBefore Ripple PaymentsWith Ripple & RLUSDSeed fund transfer timeSeveral daysMinutesCurrencyFiat onlyXRP, RLUSDCostHigherLowerGlobal Development and Expanded Use CasesA significant portion of the global population, estimated at over two billion people, still lacks access to safe water. Water.org’s campaign aims to address this need, with hopes that efficient payment technologies can increase the volume and speed of capital reaching local microfinance partners.
Swell 2026’s expanded agenda also covers digital asset tokenization, broader institutional adoption, and technical developments within the XRP ecosystem. Organizers expect high-profile speakers and live operational use cases to draw attention to both Ripple and Water.org’s efforts.
Swell 2026 brings together institutional players, developers, and leading nonprofits to explore the potential of digital assets for financial inclusion and cross-border impact.
Mason Versluis, a prominent cryptocurrency content creator and longtime XRP advocate, has revised his expectations for the digital asset’s future price, lowering his target from triple-digit projections to a more moderate range of $5 to $10 for the upcoming bull market cycle.
Target lowered to $5–$10 for next cycleVersluis, known for his outspoken support of XRP on platforms such as X, reflected on his history of bold forecasts, including predictions that the token could reach $100. In a recent post, he clarified that while he once believed XRP could surge to those levels, he has adjusted his outlook to reflect what he considers a more realistic timeline.
He now places his target at $5.89 for the next major run, suggesting this range better accounts for the pace of price cycles and the overall sentiment in the market. Versluis maintains that XRP’s fundamentals remain strong, but he emphasized the importance of patience for investors targeting substantial gains in the long term.
XRP’s long-term potential continues to look “insanely bullish,” but those who tune out short-term volatility and avoid setting premature expectations are likely to see the greatest rewards. Setting a $100 target was unrealistic within the next cycle, he suggested, pointing to the need for more grounded market projections.
He highlighted that several crypto commentators often set lofty price targets based on short-term enthusiasm, without taking into account that significant asset appreciation may take years.
Mini dictionary: Mason Versluis is a digital asset commentator and influencer with a focus on XRP and the broader cryptocurrency sector. His views, shared on X, often gain traction within the crypto community due to his direct communication style and multi-year presence.
The challenges of long-term holdingVersluis candidly discussed the personal and psychological cost of holding XRP over long periods, noting that investors who bought at low prices between $0.01 and $0.10 are among the few seeing outsized returns. He remarked that even a 10x gain on a $1,000 investment falls short of creating meaningful wealth, suggesting that for most recent investors, patience may be tried by the slow pace of appreciation.
He described the waiting period, which could extend for five to ten years, as “painful” for those expecting fast profits, and reminded the community that previous bull cycles have rewarded only a small subset of long-term holders.
The shift in Versluis’s stance triggered various responses from fellow cryptocurrency enthusiasts on X. User BrutallyHonest raised doubts about the appeal of waiting years for such price targets, arguing that investing in another asset might be more advantageous if it takes five to ten years to reach $5.
Another community member, X Expert, said the price might realistically reach $8 to $9, admitting he is not closely aligned with the XRP camp. Meanwhile, Macro Bombastic stated he would accept $5.89 and cash out.
A move towards realistic expectationsDespite stepping back from his original projections, Versluis reiterated his commitment to XRP as a long-term investment. His revised forecast from $100 to $5–$10 signals a shift toward more measured, cycle-based analysis among active market participants and influencers.
Rather than abandoning the asset, Versluis is adjusting to reflect long-term pacing and a mature outlook, indicating that patience and realistic targets may define the next phase for dedicated XRP supporters.
XRP’s price outlook is receiving renewed attention after crypto analyst Egrag Crypto published a detailed long-term projection, mapping current price behavior against the historic 2017–2018 bull market cycle. Egrag Crypto released his analysis on X, identifying several decisive price levels and forecasting a potential target of $16.87 for XRP by April 2027 if the outlined pattern plays out.
Key technical levels mappedEgrag Crypto’s forecast is anchored to a tiered road map using the 3-Day Heikin Ashi chart structure. Heikin Ashi is a candlestick charting method that smooths price trends by averaging price data, reducing market noise and highlighting clearer trends over time.
The analyst set out a sequence of key levels: $0.98 as the macro floor, $1.07 as deep support, $1.26 as a bullish pivot point, and $1.65 as the “breakout gatekeeper.” Should XRP break above these levels, the next targets identified are $5.46, $10.10, and finally $16.87 by April 2027. Egrag Crypto pointed out that green Heikin Ashi candles would act as confirmation signals for continued bullish momentum.
LevelDescription$0.98Macro Floor$1.07Deep Support$1.26Bullish Pivot$1.65Breakout Gatekeeper$5.46First Target$10.10Second Target$16.87April 2027 ProjectionConviction combined with risk managementEgrag Crypto has disclosed that he holds both spot and leveraged positions in XRP. The spot position reflects a long-term outlook, while the leveraged position targets short-term market moves managed with a strict risk approach.
In his commentary, the analyst clarified the limits of his forecast. He stated that a sustained move below $0.98 could invalidate the projection and emphasized that this remains a fractal projection, not a certainty.
Egrag Crypto noted that while the analysis maps a scenario based on historical fractal structure, it does not constitute a guarantee and should not be mistaken for one.
Fractal analysis compares current price patterns to historical events to project possible future movements, relying on precedent but not offering assured outcomes.
Mini dictionary: Egrag Crypto is an independent digital asset market analyst known for chart-based research and sharing technical perspectives on X (formerly Twitter), particularly regarding mid- and long-term crypto market cycles.
Fractal method and historic precedentThe projection takes the 2017–2018 XRP price cycle as a reference. During that period, XRP surged from less than a cent to nearly $3.80 at its historical peak.
Egrag Crypto aligned the earlier fractal to current market conditions and adjusted the timeframes accordingly, rather than simply overlaying the previous pattern.
The analyst concluded, “The market doesn’t owe us $17. But the chart is showing what could be possible.”
If the outlined trajectory is maintained, XRP would potentially climb to almost 13 times its current level by April 2027.
On-chain data from Glassnode’s XRP Cost Basis Distribution Heatmap (CBDH) shows that a large amount of XRP could face selling pressure if the price recovers.
Specifically, the XRP Cost Basis data reveals that approximately 2.5 billion tokens last changed hands around $1.61, which could create a potential resistance level whenever the price tries to rebound above current levels.
XRP Cost Basis Heatmap Shows Supply Clusters For context, the Cost Basis Distribution Heatmap tracks the prices at which XRP last changed hands on the blockchain.
When someone transfers XRP, the tokens take on a new cost basis based on the market price at that time. This helps show where holders acquired their tokens and which price levels could attract selling as the market recovers.
With XRP currently trading at $1.30, Glassnode’s data shows that the largest supply cluster at press time sits between $1.6073 and $1.6235, where 2,528,195,406 XRP last changed hands.
XRP cost basis shows largest overhang supply cluster at around $1.61 This is the largest concentration within a single price range on the heatmap, which makes it an important level to watch during XRP’s next recovery attempt.
The Wall at $1.61 The XRP Cost Basis Heatmap shows that the tokens in this cluster last changed hands when XRP traded around $1.61.
This activity coincided with a brief price surge on Sept. 25, when XRP reached $1.6288 before closing at $1.5680. The token recorded a 2.19% gain that day, but the price soon reversed and continued falling over the following weeks.
XRP remained under pressure throughout October and reached a low of $1.2550 on Oct. 18. The price later rebounded to $1.40 three days afterward, but the recovery did not last.
XRP fell back toward $1.30, leaving the 2,528,195,406 tokens acquired around $1.61 at an unrealized loss of approximately 19%.
These losses could affect how holders respond if XRP begins to recover. Those who bought around $1.61 may prefer to hold their tokens instead of selling at a loss. However, if the price returns to their entry level, some could choose to sell and recover their initial investment.
With more than 2.5 billion XRP concentrated around this price, those potential sales could create strong resistance. The cluster represents the largest supply concentration on the entire heatmap, and this makes $1.61 a key level XRP may need to break above before it can sustain a stronger recovery.
XRP Cost Basis Reveals Heavy Wall Further Up The XRP Cost Basis data also identifies another large supply cluster between $1.8497 and $1.8683, where approximately 1.948 billion XRP last changed hands. This is the second-largest concentration on the heatmap and could create another challenge if XRP manages to move above $1.61.
XRP could face potential additional resistance at $1.85 XRP last traded within this range on Jan. 29, when its price briefly climbed to $1.9106 before falling to $1.8055 by the close. The decline marked a 5.40% loss for the day. Selling continued afterward, pushing XRP down to $1.11 on Feb. 6 before the price began to stabilize.
The time XRP has spent below $1.85 could also influence holders’ decisions. Investors who bought around this level have spent most of 2026 holding tokens worth less than their purchase prices. If XRP returns to this range, some may sell to recover their investments instead of risking further losses.
This means the $1.8497-$1.8683 range could bring additional selling pressure. XRP would need strong buying demand to absorb those potential sales and continue rising after clearing the resistance around $1.61.
Support Below the Current Price Below current prices, the XRP Cost Basis Heatmap shows fewer large supply clusters. No single cluster between the current price and $0.98 contains more than 1 billion XRP.
This means the supply supporting the price below its current level is less concentrated than the supply that could create resistance above it.
However, two clusters near $1.30 could offer some support in the short term. The first sits between $1.2889 and $1.3019, where 786,277,988 XRP last changed hands. Since this range is close to the current price, it could become an important area amid the ongoing pullback.
XRP bulls may find support below $1.30 Another cluster sits just below it, between $1.2760 and $1.2889, and contains 681,794,673 XRP. This range could provide a second level of support if XRP falls below the first cluster.
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.
XRP fell early Saturday amid an ongoing market selloff, which left leveraged bullish traders facing forced liquidations, leading to a 2,008% imbalance.
A liquidation imbalance of this size indicates that traders betting on higher XRP prices are being liquidated at a substantially greater rate than those betting on further declines.
In this context, XRP's total liquidations came in at $7.92 million: long positions came in at $7.55 million while shorts came in at $375,910, according to CoinGlass data. This yields a liquidation imbalance of 2,008%.
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At the time of writing, XRP was down 3.09% in the last 24 hours to $1.27, extending its drop since Thursday's sharp decline into a third consecutive day. This continuing drop caught traders who expected a price rebound unawares, leading to forced liquidations.
Renewed pressure across global markets weighed on cryptocurrencies, erasing gains from earlier in the week. $667.71 million was liquidated in the last 24 hours across the crypto market, with long positions mostly affected ($528.30 million).
What to watchSantiment recently reported address growth for the XRP Ledger, reaching a record 8.24 million non-empty wallets. This extends a steady climb that has continued through months of price volatility.
Holder growth is still moving higher, with network growth reaching 4,772 new wallets in one day, the fifth-largest spike since March. Fresh participation is accelerating again, which strengthens the bullish case if the price increase continues, confirming the growth in users.
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$1.40 is the first level to watch. A sustained move above it while network growth stays near or above 4,000 daily wallets would make a quick return to $1.50 more than plausible. If XRP loses $1.30 while new-wallet creation falls back below roughly 3,000, the adoption signal would be less convincing in the short term.
XRP's MVRV sits around 0.92, placing traders in net losses and creating a historically more favorable, lower-risk opportunity zone than when holders are sitting on large profits.
In positive news, Arf is bringing settlement liquidity to the XRP Ledger. The Swiss-regulated platform is partnering with Ripple to bring RLUSD-powered settlement liquidity to licensed cross-border payment companies on the XRP Ledger (XRPL).
Market data suggests that XRP could rise toward the $30 price area if its long-term ascending channel continues to hold.
The two-week chart shows that the XRP has followed this pattern since 2017. XRP now trades near $1.30, down about 64% from its July 2025 all-time high of $3.66, and is approaching an important support zone.
The XRP Ascending Channel consists of two upward-sloping trendlines that have guided the asset’s price movements over several market cycles. Extending the upper trendline into 2028 leads to a potential price range of $24 to $38. However, the target remains an uncertain projection.
XRP Ascending Channel Remains Intact
The chart shows how the XRP Ascending Channel started forming following the 2017 bull run. Since then, XRP has experienced several rallies and corrections while remaining within the channel’s broader boundaries.
On the logarithmic chart, the channel’s lower boundary currently sits around $0.70 to $1.10, while its upper boundary falls between $4 and $6.50. The upper trendline has continued to rise, pushing its projected value higher as the channel extends into future years.
A dotted trendline running through the middle of the channel shows another important price reference. This line crosses the $1.70 to $2.60 region, which could act as resistance during a recovery. XRP would need to regain this area to strengthen its chances of moving toward higher price levels.
XRP ascending channel eyes a rally toward the $30 region
XRP’s 2017 Rally
The current structure looks like XRP’s price action before its historic rally in 2017. Between 2013 and early 2017, XRP traded within a narrowing range as its price formed lower highs against a relatively flat support level.
The cryptocurrency eventually broke out of this pattern and began one of the largest rallies in its history. XRP climbed from around $0.006 in January 2017 to $3.3 in January 2018, a more than 55,000% rally.
This upsurge also helped establish the price structure that analysts now use to draw the long-term ascending channel.
The current structure shares some similarities with that earlier period. XRP has experienced a major rally and has since returned to an important support area. However, this does not mean the cryptocurrency will repeat its previous performance.
Smaller Symmetrical Triangle Pattern
The chart also reveals a smaller formation within the XRP Ascending Channel. The orange trendlines form a symmetrical triangle pattern that developed between 2021 and 2024 as XRP moved through several years of consolidation.
XRP broke above this formation in late 2024, leading to its subsequent rally to a new all-time high of $3.66 in July 2025. This confirmed the bullish interpretation of the broader channel, although the price decline that followed has put the structure under renewed scrutiny.
At press time, XRP has fallen roughly 64% from its peak to around $1.30. The decline has brought the cryptocurrency back toward the lower part of the long-term channel.
This makes the current support zone important to its next move. A successful defense of this area could support a recovery, while further losses may weaken the bullish outlook.
Can XRP Reach $30?
XRP’s response to current support could determine whether the long-term pattern remains valid. A recovery above the channel’s midpoint would improve market sentiment and give the cryptocurrency a chance to test higher resistance levels.
However, a decisive two-week close below $0.70 would weaken the XRP Ascending Channel structure. Such a move would signal a break below the structure’s lower boundary and undermine the argument for a rally toward $30 or higher.
The channel’s projected upper boundary falls between $24 and $38 in 2027 and 2028. From the current price of $1.30, XRP would need to gain approximately 2,206% to reach $30. Such an increase would require sustained buying interest and support from the broader market.
The XRP Ledger, which has functioned as a multi-asset ledger since 2012, continues to attract attention for its technical features and unique asset structure. This long-standing blockchain network supports settlement, tokenization, credit, and trading, positioning it as an established platform in the rapidly evolving digital asset sector.
Auto-bridging on XRPL’s decentralized exchangeXRPL Validator Vet recently explained on X (formerly Twitter) how the ledger’s extensive history shapes XRP’s current role in the system. One of the standout features is auto-bridging, which leverages XRP’s status as the only native asset without a counterparty, enabling it to serve as a bridge between trading pairs on the XRPL decentralized exchange where a direct market does not exist.
As user activity increases and more assets are listed on the XRPL’s decentralized exchange, the auto-bridging mechanism is activated more frequently, improving liquidity, especially for less-traded tokens. According to Vet, XRP’s neutrality stems from it being “the only native asset on the network without a counterparty, neutral, can’t be frozen, anyone can accept it.”
Mini dictionary: XRPL Validator Vet is an independent technical participant operating a validator node on the XRP Ledger, which confirms transactions and contributes to the security and decentralization of the network.
Comments often suggest that XRP is not used or its price remains stagnant. Understanding the XRP Ledger as a multi-asset platform since 2012 is crucial, especially considering XRP’s unique function in auto-bridging liquidity for the DEX.
Adoption versus price: Structural debateVet argued that price increases should come as a result of greater adoption and usage of the XRP Ledger, rather than speculation ahead of real-world application. He stated that the XRP Ledger was designed to support large-scale settlement and tokenization, requiring neutral money as its base. According to Vet, XRP is designed for this role within the network’s architecture.
Price should be a consequence of widespread use and acceptance of the XRP Ledger, not a precursor.
This viewpoint underscores an ongoing debate within the community about the relationship between fundamental network utility and short-term price movement.
Community responses and ongoing discussionNot all participants in the XRPL community agree with Vet’s position. Some, like community member Jdjdje, pointed out that volatility limits XRP’s usability for certain applications and claimed that stablecoins remain the preferred choice on the ledger for many users. Others directed their frustrations at Ripple CEO Brad Garlinghouse, calling on him to publicly clarify XRP’s technical and monetary role, rather than let announcements about Ripple’s RLUSD dominate the discourse.
Additionally, figures such as Clfmac emphasized price performance, noting that XRP has not surpassed the $4 mark in over a decade. This illustrates the divide between those focused on long-term network development and those who view success in terms of short-term asset appreciation.
AssetCurrent Use CaseCounterparty RiskRole in XRPLXRPBridging, settlementNoNative, neutral, auto-bridgingStablecoins (e.g. RLUSD)Value storage, paymentsYesIssued assets, preferred for low volatilityThese differing perspectives highlight persistent tension between technical arguments and price expectations in the XRPL ecosystem.
A network-focused argument, not a price forecastVet did not attempt to predict XRP’s future price but instead focused on the operational structure and purpose of the ledger. He emphasized that the XRPL’s fundamental strength lies in its capacity for facilitating settlement, credit, and tokenized assets at scale. XRP’s unique characteristics underpin its suitability as the network’s monetary layer, but whether this translates into future price increases remains unresolved.
The technical case put forward prioritizes the foundational value of the ledger over speculation, reflecting ongoing discussions about the future trajectory of both the XRP network and its native asset.
XRP is down about 2% on Saturday, trading near $1.27 after slipping below its 100- and 200-day moving averages and back onto the golden pocket support zone.
Key Takeaways
▪ Wednesday’s rally toward $1.40 fully reversed.
▪ Golden pocket spans roughly $1.24 to $1.26.
▪ RSI near 36, closing in on oversold.
▪ XRP sits 26% below its August peak.
Binance’s XRP/USDT daily chart on TradingView shows the October slide unfolding on far lighter volume than the August and September rallies, with no panic-selling spike so far.
The bounce that did not last
Earlier this week, XRP bounced off the golden pocket, the zone between the 0.618 and 0.65 Fibonacci retracements of its August rally. By Wednesday the move had stretched to about $1.40 before sellers stepped in.
XRP daily price chart. Source: TradingView
They erased those gains over the next three sessions, and Saturday’s drop reached about $1.25 intraday, a touch inside the pocket.
Two of three support layers are slipping
Last week, the pocket had backup from the 100- and 200-day SMAs, which had converged just above it. A daily close beneath them would turn that backup into the first hurdle overhead, only 1% to 2% above the current price.
Support layer
October 20
Now
100-day SMA (~$1.29)
Holding
Lost intraday
200-day SMA (~$1.28)
Holding
Lost intraday
Golden pocket (~$1.24–$1.26)
Holding
Being tested
Each bounce off the floor is getting weaker
The pocket has now been tested three times since mid-September, and the rebounds it has produced are shrinking. The first lifted XRP by roughly a third. Last week’s managed about 11% before fading.
Test of the floor
Low
Bounce high
Rebound
Mid-September
~$1.25
~$1.66
~+33%
Mid-October
~$1.26
~$1.40
~+11%
Now
~$1.25
Pending
In progress
The highs tell the same story from the other side. Each rally since late September has topped out lower than the one before, while the floor has stayed in the same place. That squeezes price into a narrowing range and puts more and more weight on a single level.
Volume points the same way. The September rebound came on some of the heaviest Binance trading of the autumn, while last week’s bounce drew far thinner activity. With both the October selling and the latest buying running on light volume, neither side has shown real conviction at the floor yet.
Below the pocket, the chart thins out
If the pocket gives way, the next Fibonacci level is the 0.786 near $1.14, about 10% lower and close to where XRP traded in late July. Beneath that sits the August low near $0.99, the starting point of the entire rally.
The ceiling that stopped Wednesday’s rally
Past the two averages, the 0.5 Fib near $1.35 comes first. Above it, the 50-day SMA near $1.41, now curling lower just beneath the 0.382 Fib near $1.43, is the barrier Wednesday’s move could not reach. Clearing all of that would still leave the 0.236 Fib near $1.53, the top of the late-September range that gave way in early October.
Momentum is stretched
RSI has slid to about 36, below its signal line and approaching the 30 oversold mark. Selling looks stretched, but an oversold reading on its own does not mark a turn.
The case for a hold
The 0.618 Fib has yet to fail on a daily close, and the 100-day SMA is still rising. A fast move back above the lost averages would make this week’s drop look like another shakeout at the same floor.
Potential Moves (not a forecast)
XRP sits on the golden pocket, with the 100- and 200-day SMAs at $1.28–$1.29 overhead.
Hold and recover: A daily close back above $1.29 in the coming days could revive the bounce and bring the 0.5 Fib back into play.
Break: A daily close below $1.24 before the end of October could crack the pocket and expose the 0.786 Fib.
Bigger picture: XRP still trades about 28% above its August low, and holding the pocket would keep the August uptrend technically intact.
Outside the chart, the next scheduled potential market mover is the Federal Reserve’s rate decision on Wednesday, October 28, at 2:00 PM ET.
How we read this chart
Daily XRP/USDT candles from Binance on TradingView, captured at 16:32 UTC on October 24, 2026, with the day’s candle still open. Daily candles close at 00:00 UTC.
Fibonacci levels run from the mid-August low to the August spike high. Indicators used: the 50-, 100- and 200-day simple moving averages, the 14-day RSI and Binance trading volume.
This article is provided for informational purposes only and does not constitute financial advice. Cryptocurrency prices are volatile.
Author
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP.
Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem.
To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem.
His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
XRP is down 2.9% over the past 24 hours, trading near $1.28, even after Franklin Templeton added roughly $150 million of its tokenized money market fund to the XRP Ledger this week. The reason is structural: the fund shares, called sgBENJI, are paired with Ripple’s RLUSD stablecoin rather than XRP, so the deposit creates almost no direct buying pressure on the token. XRP only pays transaction fees and an account reserve — costs small enough that moving $150 million burns about as much XRP as moving a single dollar.
What Franklin Templeton Actually Moved
On-chain records show Franklin Templeton issued two subscriptions of 72,184,793 sgBENJI shares each, lifting the XRP Ledger balance from roughly 48 million shares to nearly 193 million. At the $1.039 share price recorded in the ledger, the two batches are worth about $150 million in total, and the full position now sits near $200 million. RWA.xyz, a tokenized-asset data platform, lists Franklin’s XRP Ledger position at about $193 million.
Every share landed in a single wallet that uses the same authorized signers as Franklin’s issuing account, so the entire supply currently sits in one controlled address rather than in end-investor wallets. That is normal for a tokenized fund at this stage: the issuer mints shares into a wallet it controls, then delivers them when investors subscribe or request personal custody. One wallet can therefore hold shares for multiple clients, and the on-chain balance alone does not reveal how many investors have actually received tokens.
Why $150 Million Does Not Buy XRP
The key to the price reaction is the pairing. Under the structure Franklin, DBS and Ripple announced in September 2025, sgBENJI trades against Ripple USD (RLUSD) on the DBS Digital Exchange, not against XRP. Investors move between a dollar stablecoin and a dollar-denominated money market fund, which means the $150 million moves through RLUSD — not through XRP. XRP’s role is limited to network fuel: a small per-account reserve and a fraction of a token burned per transaction.
The arithmetic makes the point. The XRP Ledger’s transaction cost is a fraction of a cent, so settling two $75 million subscriptions costs the same negligible amount of XRP as settling two $1 transfers. If the $150 million were instead exchanged into XRP at the current $1.28 price, it would represent about 117 million XRP — but no such conversion happened, because the fund is dollar-backed and dollar-settled. That is the difference between tokenization news and demand news, and it explains why a headline-grabbing deposit did not move the price.
XRP Price: Where the Token Stands
XRP is changing hands around $1.28, down 2.9% over 24 hours, within a $1.27 to $1.32 daily range, according to CoinGecko. Market cap is about $80.8 billion with $1.2 billion in 24-hour volume, and about 63.1 billion of the 100 billion maximum supply is circulating. The longer view is heavier: XRP is down about 12.2% over 30 days but still up 47.9% over the past year.
Technically, the $1.27 level that held as the 24-hour low is the first support to watch, with the $1.32 intraday high as the immediate ceiling. A decisive break below $1.27 would open room toward the $1.22-to-$1.25 zone, while a push back above $1.32 would need to clear the token’s broader downtrend from its recent highs before any sustained recovery is on the table. None of these levels are forecasts; they are the live boundaries of the current range, and the deposit itself does not change them.
The Bigger Tokenization Story
The deposit matters more for tokenized real-world assets than for XRP’s spot price. It roughly quadruples Franklin’s footprint on the XRP Ledger and makes the network a live venue for an institutional money market fund, next to the tokenized funds already running on other chains. RWA.xyz now ranks Franklin as the second-largest tokenized asset platform on the XRP Ledger, behind RLUSD and ahead of Ondo.
The partnership that set this up traces to a September 18, 2025 memorandum of understanding between DBS, Franklin Templeton and Ripple. The three parties framed the XRP Ledger as the settlement layer for a fund that could be rebalanced around the clock. “Digital asset investors need solutions that can meet the unique demands of a borderless 24/7 asset class. This partnership demonstrates how tokenised securities can play that role while injecting greater efficiency and liquidity in global financial markets,” said Lim Wee Kian, CEO of DBS Digital Exchange.
Franklin Templeton’s head of digital assets, Roger Bayston, positioned the move as an extension of the firm’s tokenization work. “We believe that blockchain and tokenisation unlock powerful new use cases that have the potential to reshape the global financial ecosystem. Leveraging Franklin Templeton’s expertise in blockchain technologies and digital assets, we are excited to partner with DBS and Ripple to introduce cutting-edge trading and lending solutions for investors,” Bayston said.
Ripple’s Nigel Khakoo, VP and global head of trading and markets, tied the deal to the stablecoin’s role as the exchange medium. “Investors can also seamlessly rebalance their portfolios between a stablecoin and a yield-generating money market fund, all within a single, trusted ecosystem, unlocking real-world capital efficiency, utility and liquidity that institutions demand,” Khakoo said. The comments are from the 2025 announcement and describe the partnership’s design, not the size of this week’s deposit.
Franklin has been extending the same fund across networks for over a year. Bybit already accepts Franklin Templeton’s tokenized money market fund shares as off-exchange collateral, and rival asset managers are building on the same playbook — J.P. Morgan recently expanded its own tokenized money market funds to Solana. The XRP Ledger entry is one more chain in that same race.
What to Watch Next
Two signals would turn this from an on-chain curiosity into a demand story. The first is distribution: if sgBENJI shares begin moving from Franklin’s single wallet into investor-controlled addresses, that would show the fund is reaching actual buyers. The second is collateral use — DBS has said it will explore letting clients pledge sgBENJI for credit, including repurchase agreements, and a filing or statement that names XRP or the XRP Ledger for settlement would be a different kind of catalyst.
For now, the deposit is best read as tokenization progress, not XRP demand. Franklin Templeton has not formally announced the allocation, and the single-wallet structure means the $150 million is staged on-chain rather than confirmed as investor money in circulation. The next check is Ripple Swell, running October 27 to 29 in New York, where the companies are expected to discuss the partnership further.
Frequently Asked Questions
Why is XRP down today?
XRP is down about 2.9% over 24 hours, trading near $1.28, as part of a broader crypto pullback. Franklin Templeton’s $150 million tokenized fund deposit did not lift the price because the shares pair with RLUSD, not XRP.
What is Franklin Templeton’s sgBENJI?
sgBENJI is the XRP Ledger token for Franklin Templeton’s Singapore-domiciled OnChain U.S. Dollar Short-Term Money Market Fund. Each token represents a share of the fund, which holds short-term dollar debt.
Did Franklin Templeton buy $150 million of XRP?
No. The $150 million is in money market fund shares tokenized on the XRP Ledger. The fund is dollar-denominated and settles through RLUSD, so the deposit creates no meaningful direct buying pressure on XRP.
How much is on the XRP Ledger now?
Roughly 193 million sgBENJI shares, worth about $200 million at the $1.039 share price, up from about 48 million shares before this week’s two subscriptions.
Price data is from CoinGecko as of October 24, 2026, and on-chain figures from XRP Ledger records via RWA.xyz. The partnership quotes are from the DBS, Franklin Templeton and Ripple announcement dated September 18, 2025.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
State Street, one of the world’s leading custodial banks with trillions of dollars in assets under management, is developing a multi-chain tokenization infrastructure. Recent documentation confirms the bank’s involvement with three major blockchain networks: XRP Ledger, Stellar’s XLM, and Hedera’s HBAR.
State Street’s blockchain architectureCrypto researcher SMQKE published documentation linking State Street to core developments on the XRP Ledger, Stellar network, and the Hedera blockchain. This material includes a tokenized money market fund issuer table and a Boston Consulting Group (BCG) slide from October 2021 that highlights State Street’s partnership with Securrency, a prominent tokenization platform.
The table provides details on the use of these blockchains in the creation and management of money market funds. According to the BCG slide, Securrency’s platform infrastructure is closely tied to both the XRP and Stellar networks, establishing a direct technological link between State Street and these digital asset ecosystems.
State Street is directly partnered with Securrency, which uses both XRP and XLM. Hedera is also one of the blockchain options for State Street to utilize for its tokenized money market funds. XRP, XLM, and HBAR have all been documented as part of State Street’s evolving digital asset strategy.
Partnership with SecurrencySecurrency, based in Washington, D.C., has raised $49.4 million in funding and offers tokenization services on Ethereum, Stellar, Ripple, Gochain, and EOS networks. The partnership with State Street is noted within the BCG analysis, emphasizing the bank’s integration with next-generation tokenization infrastructure.
Securrency’s system enables tokenized products to be issued and managed across multiple chains, including both XRP and Stellar. This alignment gives State Street direct access to key blockchain networks for its digital asset strategies.
Hedera and fund tokenization in EuropeThe documentation identifies State Street Global Advisors Europe Limited as the issuer of seven tokenized liquidity funds utilizing Hedera as the blockchain and Archax as the transfer agent. These funds are domiciled in Ireland, reflecting State Street’s commitment to implementing tokenization solutions across its European services.
BlackRock Asset Management Ireland Ltd is also listed in the documentation, managing six tokenized liquidity funds on Hedera via Archax. Both State Street and BlackRock are leveraging HBAR for institutional fund tokenization, further strengthening Hedera’s position in this growing sector.
This multi-network approach allows State Street to diversify its blockchain exposure—using XRP Ledger and Stellar via Securrency, and Hedera with its tokenized fund products based in Ireland.
Role of Archax and emerging tokenization trendsArchax, a UK-based digital asset exchange and custodian, acts as the transfer agent for both State Street and BlackRock’s Hedera-based funds. This positions Archax as a central operator in Europe’s institutional tokenized fund infrastructure.
The documentation underlines a trend among top asset managers: the implementation of tokenization infrastructure is advancing, with major institutions selecting networks, engaging custodians, and launching tokenized products.
Technical monitoring remains a core requirement amid these developments. In the meme token market, an internet trend can transform into millions of dollars of interest within days. According to data from Fomo App, a trade involving “Niu Lai” converted a $99 investment into roughly $370,000, highlighting the dynamics of rapid investor interest. Monitoring not just prices but also timing and investor decisions is especially critical here. Fomo App combines token discovery and trading, adding social feeds, investor rankings, and trade notifications in a single environment, making it notable for those tracking meme token trends and investor activity.
State Street’s deployment across XRP Ledger, Stellar, and Hedera demonstrates a broad strategy, with each blockchain network serving distinct roles in its expanding tokenization agenda. The involvement of players like Archax and Securrency accelerates the adoption and sophistication of institutional tokenized products.
Crypto analyst Ash Crypto shared an updated weekly chart of XRP, highlighting a persistent multi-month resistance zone between $1.50 and $1.60. The analysis shows that XRP has remained constrained below this threshold for several months, suggesting that sentiment hinges on whether the asset can break through this level. Ash Crypto maintains that surpassing the resistance would likely allow XRP to advance toward the $2 mark with relative ease.
XRP price compression and historical peaksXRP previously climbed above $2 in early 2026, followed by a sharp decline that lasted through the first quarter. During this period, the asset’s price bottomed out near $1 in August before mounting a strong recovery rally toward the established resistance zone.
Despite renewed momentum, multiple attempts to move beyond $1.50 to $1.60 have failed, with each rejection contributing to a notable decrease in price. As of now, XRP trades around $1.32, still below the critical area highlighted by technical analysts.
Ash Crypto observed that once XRP breaks above this long-standing resistance, a move up to $2 could follow quickly. He added that the asset has been pinned beneath this level for months, reinforcing the significance of a decisive breakout.
Technical patterns and ongoing accumulationOn the weekly chart, three cup-shaped formations reflect extended periods of accumulation followed by upward surges. The most recent pattern is unfolding at current prices near $1.32, and the consistent pressure just below the $1.50 to $1.60 range signals buyers have not relinquished control.
With each new approach to the resistance, underlying demand appears steady, illustrated by repeated tests over an extended timeframe. Technical consensus suggests that a confirmed weekly close above $1.60 would remove the principal barrier to a potential rally towards $2. Analysts note that a similar attempt in September briefly pushed XRP past resistance, but the price failed to sustain its gains at higher levels.
Community members debated the criteria for a valid breakout, with some requesting clarification on whether a daily close or consecutive closes above resistance would suffice for confirmation.
Community outlook and market dynamicsThe post generated a broad range of reactions within the community. While some participants echoed the bullish expectation for a swift move to $2 following a breakout, others remained unconvinced. One user remarked that XRP’s underperformance extended over several years, noting increased reports of investors reducing their positions.
Other contributors focused on the technical setup itself and agreed that breaking above the resistance would likely be the catalyst for a significant advance. These differing perspectives underscore the importance of monitoring closing levels and market momentum in the coming weeks.
Given the rapid changes in crypto markets, tools that allow investors to access live charts, breaking news, and manage their portfolios efficiently have become essential. In a landscape where factors like Federal Reserve policy shifts or surprise altcoin listings can instantly alter market conditions, privacy-first platforms such as CryptoAppsy are gaining popularity. These services offer real-time charting, custom price alerts, coin-specific news, and macroeconomic data, all accessible from a single interface without requiring users to create accounts.
Key level to watchCurrently, the $1.50 to $1.60 range remains the focal point for traders. With XRP trading at $1.3212, market watchers view a sustained break above this resistance as the pivotal event that could unlock the next major upward move for the asset.
Popular technical analyst ChartNerd, known for his chart-focused commentary on X under the handle @ChartNerdTA, has renewed his bullish price forecast for XRP. In a recent post, ChartNerd stated, “If you can’t stomach $XRP at a buck, you don’t deserve it at $5-$8,” underscoring his conviction in the token’s long-term potential. This stance revisits his earlier analysis published in October, where he detailed the rationale behind his price targets.
ChartNerd’s technical basis for $5-$8 XRPOver recent months, ChartNerd has consistently argued against constantly circulating $1,000 XRP price targets, which he described as unfounded. Instead, he maintains a more conservative target in the $5-$8 range. In his video analysis, he emphasized the speculative nature of such predictions and added a disclaimer that his insights should not be construed as investment advice.
ChartNerd identified a multi-year compression pattern in XRP’s long-term chart data. Since 2020, XRP recorded higher lows, breaking that trajectory in November 2024. The token then surged to an all-time high of $3.65 in July 2025 before correcting by roughly 73%. He pointed out that a correction of such depth has only occurred around four times in XRP’s market history.
If you can’t stomach $XRP at a buck, you don’t deserve it at $5-$8.
ChartNerd’s price projection is based on Fibonacci extension levels, which he says indicate strong confluence at $8 using two separate technical measurements. He defined this range as his “conservative structure for the next sort of couple of years.”
Mini dictionary: Fibonacci extension — A technical analysis tool used to project potential future price targets by identifying key levels after a market move, based on mathematical ratios observed in the Fibonacci sequence.
Community debate and reactionsChartNerd’s recent post has revived discussion within the XRP community. Some long-term supporters echoed his message that current prices offer opportunity, warning that those who exit around $1 might miss out on substantial gains if the projected move plays out.
His commentary continues to attract attention, especially given his reputation for in-depth technical content focused on XRP and his consistent reference to the $5-$8 range.
Community members responded with a range of perspectives. One critic argued that similar technical patterns and price forecasts have persisted for a decade without specific timeframes, adding that XRP’s price movements have historically mirrored those of Bitcoin. This commenter expressed doubt about the predicted range, suggesting it could underestimate XRP’s future potential.
XRP Price ScenarioAnalyst/Community TargetChartNerd$5-$8Bullish commentators$25-$50XRP’s all-time high$3.65 (July 2025)Another commentator indicated they would view any dip to $1 as a chance to accumulate XRP, setting personal price goals as high as $25 to $50, a considerable increase over ChartNerd’s target. Others described themselves as patient holders, prepared to wait for the market outcome regardless of near-term fluctuations.
Throughout years of analysis, ChartNerd has maintained a $5-$8 target, stating that future market action will ultimately determine whether the community’s optimism is justified.
XRP remains a focal point for debate among analysts and investors, with opinions divided over how far the token can rise in the next market cycle. ChartNerd’s conservative yet optimistic outlook continues to provide a benchmark for discussions within the community.
Ethereum co-founder Joseph Lubin has a thesis about artificial intelligence. It is smart, maybe even creative, but it cannot make anyone trust it.
Speaking on CNBC in an interview on October 7, 2026, Lubin argued that blockchains like Ethereum are what can fill that gap. In his view, AI and crypto will eventually merge into a single system where automated work gets commissioned, completed and paid for.
Creativity is cheap, trust is not
Lubin, who founded ConsenSys, split the value of AI into two buckets. On one side sits what AI might offer: creativity and expertise. On the other sits what it cannot produce on its own: trust.
Lubin’s argument is that blockchains solve exactly that problem. A public ledger records who asked for what, whether the job was delivered, and whether payment cleared, all without a middleman vouching for either side.
According to Lubin, decentralized protocols on Ethereum can provide the trusted framework for that kind of activity. That means AI agents could, in theory, hire other agents, verify the output and settle the bill on-chain.
Not a new idea for Lubin
He has previously hinted at a significant increase in autonomous on-chain activity driven by AI agents.
He has also predicted that Ethereum will evolve into a central settlement layer. The idea is that the network becomes less of a place where humans click buttons and more of a back office where software settles its accounts.
One recent initiative is EthSystems, a project backed by Lubin that aims to provide privacy technology for institutions on Ethereum. That matters because institutions tend to want the efficiency of a shared ledger without broadcasting every transaction to competitors.
Lubin also addressed the regulatory backdrop. He said clarity is expected from the SEC and CFTC, even as legislative efforts around crypto oversight have faced delays.
That is a notable distinction. He is pointing to agencies, not Congress, as the more likely near-term source of rules, which suggests the industry may get guidance through regulators before it gets new law.
Disclosure: This article was edited by Diego Almada Lopez. For more information on how we create and review content, see our Editorial Policy.
Ethereum is stabilizing after a period of heightened volatility, with its price trading near $2,460.98, reflecting a rebound of 0.52% in the past 24 hours. The market’s attention has turned to several encouraging signals as ETH attempts to move out of correction territory and into a new phase of accumulation and potential recovery.
Short-term resistance and support levelsEthereum is rebounding from recent lows but still faces significant resistance overhead. Analysts have noted that the price continues to encounter selling pressure around $2,415, a level that has capped multiple previous rebound attempts on intraday charts. Despite these hurdles, support appears solid in the $2,370 to $2,380 range, where buyers previously stepped in following the most recent downturn.
Maintaining above this support region would help ETH build a more stable base, but a decisive move above $2,415 is needed to signal a material improvement in the short-term trend. Without such a breakout, the price may remain vulnerable to further downside retests. Should Ethereum overcome this resistance, attention is likely to shift back toward $2,500 and the next set of hurdles higher up.
Ethereum’s price has rebounded several times during the current correction, but converting resistance into confirmed support at $2,415 would be an important step in strengthening the short-term outlook.
Major whale rotates $155 million into ETHOn-chain data from Lookonchain indicates a large investor recently rotated approximately $159 million out of Bitcoin, selling nearly 1,918 BTC over 11 days, while acquiring about 64,545 ETH valued at around $155 million. This move places Ethereum at the center of large-holder accumulation, suggesting that institutional and large-scale investors are building positions amid current market weakness.
Such whale activity is often viewed as a signal of increased institutional interest, especially if the market is still searching for a recovery confirmation. The transaction amplifies demand-side momentum, reinforcing arguments for a possible trend reversal if resistance levels are reclaimed.
Mini dictionary: Lookonchain is a blockchain data analytics platform known for tracking large transactions and whale activity in the cryptocurrency markets. The service provides real-time insights into the movements of significant holders and institutional participants.
Shift in derivatives market: Longs build, shorts collapseEthereum’s derivatives market is also showing a shift in sentiment. Data from market trackers reveal a sharp reduction in ETH short positions, falling from over 14,000 to about 3,000. Simultaneously, long exposure has surged from below $100 million to about $365 million, suggesting that traders are increasingly betting on a bullish recovery as ETH stabilizes near $2,460.
MetricBeforeCurrentETH Short Positions14,000+~3,000ETH Long Exposure<$100 million$365 millionThis change places more pressure on Ethereum’s price to respond and break through resistance levels. The strong buildup in long positions and the reduction in shorts highlight growing conviction that the market could soon transition from base-building to renewed gains.
As traders increase long positions and reduce short exposure, optimism grows that ETH can build on its current base and advance toward higher levels if key resistance points are cleared.
Technical signals and long-term outlookShort-term technical indicators support the prospect for recovery. The 2-hour Relative Strength Index (RSI) has cooled to 47, indicating room for price growth, and the Moving Average Convergence Divergence (MACD) remains negative but reset after previous overbought conditions. These factors suggest that ETH could stage another move higher if buying interest returns.
Longer-term, analysts describe the $2,270–$2,500 range as a key accumulation zone, where strong hands are accumulating positions despite short-term weakness. A trend reversal and close above $3,000 to $3,300 could indicate the start of a broader expansion phase, with some roadmaps targeting $8,800 as a future objective, and a distribution zone extending toward $11,500. However, these upside targets are dependent on ETH successfully establishing a stable base and reclaiming higher resistance levels in the weeks ahead.
Key levels and what to watch nextTraders are monitoring whether Ethereum can turn its current stabilization near $2,400 into a sustained recovery. A hold above this level could trigger interest in retesting $2,455 and $2,500, benchmarks where past rallies have faltered. If ETH moves above $2,500, momentum could improve and open the door to higher targets. Alternatively, if the $2,370–$2,400 band fails to hold, focus may shift to the next support near $2,345, signaling potential for further pullbacks before recovery resumes.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
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Ethereum [ETH] registered its largest daily exchange outflows in over four months, with 169,770 ETH leaving exchanges as market participants anticipate a potential price rebound. Santiment Intelligence is comparing the recent withdrawals to a similar spike recorded on the 5th of June.
Following that period, Ethereum recorded roughly 223,800 ETH in net outflows as its price reached a local bottom. Subsequently, the token staged a strong price rebound, making the later withdrawal spike particularly significant to the prevailing market conditions.
For context, substantial exchange withdrawals generally limit the amount of ETH readily available for immediate selling. Therefore, this recent development reinforced expectations of a possible price recovery, even though historical patterns sometimes offer no guarantee.
Meanwhile, selling activity among Ethereum’s earliest investors introduced another important factor into the recovery story.
Ethereum OG whales cash out after years According to Lookonchain, an early Ethereum investor reportedly sold 3,000 ETH valued approximately $7.23 million. Originally, the investor purchased the tokens nine years ago at just $18.83 each, which secured a reported 128-fold return.
Beside that, another Ethereum OG separately sold 1,000 ETH after acquiring tokens during Ethereum’s initial coin offering. This investor originally purchased 100,000 ETH at around $0.31 per token. The two long-term holders together sold 4,000 ETH, which highlighted renewed selling activity among Ethereum’s earliest investors.
Even though the reported exchange withdrawals implied limited available supply, the whale transactions showed continued selling among long-term investors.
Also notably, Ethereum’s derivatives market also highlighted persistent selling pressure, beyond these individual sales.
Source: Lookonchain on X Futures sellers maintain control over ETH As per CryptoQuant analytics, Ethereum’s Futures Taker CVD continued showing seller dominance, which implied sustained aggressive selling activity. In particular, this indicator measured the cumulative divergence between market buy and sell orders across the Futures markets of ETH.
The seller-dominant reading therefore indicated that aggressive sellers continued outweighing buyers throughout the period observed. This derivatives positioning was in contrast with the considerable exchange withdrawals reported by Santiment.
Consequently, such positioning could likely invalidate recovery prospects, especially in case the aggressive Futures selling persists alongside the prevailing weak ETH price action.
Source: Ethereum Futures Taker CVD on CryptoQuant Can Ethereum defend $2,300? The daily timeframe chart highlighted continued weakness after ETH failed to sustain its earlier recovery toward the $2,540.68 price level. The altcoin subsequently pulled back toward $2,376.62, losing its key support at the $2,385.62 price level.
Notably, the latest candles highlighted repeated attempts to stabilize around this zone, but the bulls did not manage to establish a convincing rebound.
Meanwhile, the Parabolic SAR indicator remained above the prevailing market value at $2,509.93 as of writing, strengthening the current bearish structure.
Furthermore, the MACD indicator maintained a bearish crossover. Notably, the indicator’s negative histogram reading of -8.90 further validated that the bears retained the technical advantage.
Overall, the bearish technical indicators for now outweighed the bullish implications of exchange withdrawals. Unless the bulls reclaim the $2,385 support, ETH could face further price decline toward $2,300.
Source: ETH/USDT Chart on TradingView Final Thoughts Ethereum’s exchange outflows reached a four-month high, but early investors continued selling their holdings. Persistent Futures selling and bearish indicators left ETH facing another potential decline toward $2,300.
Spot Ether ETFs lost $1.2 billion in October, their worst month of the year. At the same time, Bitmine is approaching the 5% cap on the supply it set for itself. The two buyers driving the demand are withdrawing together.
In brief
Ether ETFs register $1.2 billion in net outflows in October, after $1.85 billion inflows in August and $832 million in September.
Bitmine, which has been buying weekly since June 2025, is about 63,500 ETH away from its 5% supply cap and should reach it by late November.
The network issues around 20,000 ETH per week, and the question is who will absorb it when both drivers slow down.
Ether ETF and Bitmine, the two demand drivers stall
Ether demand relied this year on two pillars, spot ETFs and Bitmine Immersion Technologies. The first turned red in October. The second is about to stop, as confirmed by Tom Lee with a hard cap set at 5% of supply.
The simultaneity is the important point. The two buyers are not only slowing at the same time; they have represented so far most of the marginal demand. Their combined withdrawal leaves a gap that adoption flows, no matter how numerous, do not mechanically fill.
From massive inflows to net outflows
The reversal is clear. Funds attracted $1.85 billion in August, then $832 million in September. October shows $1.2 billion in net outflows, at an average rate of about $357 million per week. Investors sold every trading day except two until October 22.
The weight of funds remains considerable. They hold about 6.2 million ETH, for combined net assets of $14.6 billion, a volume comparable to Bitmine’s reserves. Two portfolios of this size retreating simultaneously weigh on the order book far more than just their flows.
September was not an isolated accident. October outflows extend an earlier movement, and our October 11 article already pointed out the worst week of the year for the segment.
Who will absorb the supply
The arithmetic poses the following question. Ethereum issues about 20,000 ETH per week, and Bitmine absorbed a significant part. Over the last two weeks, the company only bought about 12,500, versus more than 100,000 per week on four occasions in April and May.
The slowdown is thus already underway, even before the cap. Bitmine has been buying weekly since June 30, 2025, without interruption, and the final pace is nothing like the start of the campaign. The company documents its weekly purchases on its website.
Two nuances prevent concluding too quickly. Ethereum’s issuance is not fixed, since a burn mechanism adjusts supply to actual network demand. And adoption flows continue, as illustrated by JPMorgan bringing its deposit token on Ethereum this week.
The fundamental question remains. No other corporate treasurer today has comparable capacity, and the ETFs, which drove demand for two months, are selling. For ether to hold until year-end, fund flows must turn positive again, or a new buyer must take over.
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Fenelon L.
Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
