Dave Portnoy, founder of Barstool Sports, announced he will not sell his XRP and Bitcoin holdings despite suffering multimillion-dollar losses due to a prolonged crypto market downturn. He revealed that his XRP position, bought near a peak at $1.70, dropped to $1.17, while Bitcoin hovered around $63,000. Portnoy has exhausted his free cash and cannot defend his portfolio but remains optimistic, inspired by a prophecy from former Twitter CEO Jack Dorsey that Bitcoin could reach $1 million. He views the current crash as a buying opportunity for those with available funds, although he personally struggles with timing and cash flow constraints.
XRP fell almost 5% on June 4, entering a historically weak month for the cryptocurrency during U.S. midterm election years, with prior June losses ranging from 17% to 39%. Despite this, XRP investment products saw $20.3 million in weekly inflows, eve...
XRP has broken below the critical $1.20 support level, confirming a strong downtrend and shifting market control to sellers. The price is now trading near $1.17, with the old support turning into resistance. The Relative Strength Index (RSI) shows ex...
XRP is experiencing one of its deepest Relative Strength Index (RSI) resets ever, indicating a sharp momentum drop but maintaining key support levels. This RSI collapse aligns with a $60 million open interest reduction, mainly due to liquidations on ...
XRP has fallen below a multi-month triangle support, confirming a bearish trend shift with a 4% daily and 14% weekly decline to $1.14. Analyst CasiTrades identified a five-wave pattern indicating further downside, with the active third wave targeting...
On June 4, no new Ripple USD (RLUSD) stablecoins were minted, while $27.5 million worth of tokens were removed from circulation. This follows a trend seen in May where minting paused briefly while significant token burning occurred. The activity shif...
