Ripple's stablecoin treasury burned more than 35 million RLUSD tokens on March 26, including a massive 26 million token burn on the Ethereum network, followed by several smaller burns on both Ethereum and XRP Ledger. This rapid reduction in RLUSD supply caused the stablecoin's market cap to drop from $1.6 billion to around $1.4 billion. Such burns are typically part of liquidity management to maintain the stablecoin's peg, but the unusually high volume and frequency over two weeks have raised questions in the crypto community about whether this signals something beyond normal supply management. The situation remains under observation as Ripple continues these burns.
XRP surged about 4% to $1.11 following a broader crypto market rebound triggered by softer U.S. inflation data. Technical signals suggest a bullish inverse head and shoulders pattern, with potential for a 20% price increase if XRP breaks the $1.12–$1...
XRP whale activity has increased alongside a notable drop in Binance's XRP reserves, falling from 2.80 billion to 2.61 billion tokens. Withdrawal transactions on major exchanges like Coinbase, Binance, and Bybit have surpassed deposits, indicating la...
Veteran trader Peter Brandt has identified a potential "inverted head and shoulders" bottom pattern in Bitcoin's price, suggesting a possible shift in momentum. However, he cautions that the pattern is unconventional and not yet confirmed. Meanwhile,...
Ethereum rose 3.17% to $1,923.53, outperforming Bitcoin's modest 0.18% gain to $64,588.87, signaling an early rotation toward large-cap altcoins. Despite this, overall market activity slowed, with declines in DeFi, stablecoin, and derivatives trading...
Ethereum futures long positions among top traders increased by over 3 percentage points across both USDT- and coin-margined markets, indicating a broad-based shift in short-term sentiment. This rise suggests heightened attention on ETH compared to ot...
