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It seems like the retreat in XRP might be over with February after the reversal in the last day, which suggests a Ripple rally in March.
Following a strong bullish run in late 2024 and early 2025, XRP saw a significant decline in February. The cryptocurrency had surged nearly 700% to a peak of $3.40 by mid-January, fueled by Donald Trump’s election victory and the appointment of a more crypto-friendly SEC chairman.
However, early February brought turbulence across financial markets after the launch of Low-cost DeepSeek, which triggered a selloff in risk assets, including stocks and cryptocurrencies. XRP/USD briefly fell below $2, but a strong rebound from the 20-week SMA (gray) indicated solid support around the $2 level.

Despite repeated attempts, buyers struggled to push XRP back above $3, and selling pressure persisted. Earlier this week, the XRP price dropped to $2.06, but strong demand near the $2 support zone helped stabilize it.
While the broader crypto market faced deeper losses—Bitcoin slipping below $80K and Ethereum nearing $2,000 (down 60% from its highs)—XRP displayed resilience, experiencing comparatively smaller declines.
Today, XRP briefly dipped to $1.97 before bouncing back 20 cents higher, forming a bullish hammer candlestick by the day’s close—a potential sign of a trend reversal as March begins. Given the improving sentiment in the crypto market, a push above $3 seems increasingly likely this month.
The SEC’s case against Ripple has significantly weakened since 2023, when Judge Analisa Torres ruled that XRP does not qualify as a security. This landmark decision has played a crucial role in shaping the regulatory landscape for cryptocurrencies, leading to broader implications for the industry. Over the past few months, regulatory pressure on the crypto market has also shown signs of easing, adding to the positive sentiment surrounding XRP.
The SEC has either paused or entirely dropped investigations into several major crypto firms, including Coinbase, Uniswap, Gemini, and Robinhood Crypto. These developments suggest a shift in the agency’s enforcement approach, moving away from aggressive crackdowns. In addition, Consensys reached a settlement that resulted in the complete dismissal of its case, further signaling a changing regulatory tone. Meanwhile, the high-profile lawsuit against Binance has been postponed for 60 days, hinting at potential behind-the-scenes negotiations or reconsiderations in how the SEC handles crypto-related legal matters.
With both regulatory uncertainty decreasing and broader market conditions improving, XRP is in a strong position for a rebound in March. Investor confidence is growing as legal pressures subside, and market dynamics suggest a renewed push higher. If buying momentum picks up, a rally above $3 could be well within reach, marking a significant recovery from February’s pullback and reinforcing XRP’s position as a key player in the evolving cryptocurrency landscape.
XRP
Solana (SOL) has been on a rollercoaster ride over the past few days, and it dropped to $140 after recent highs. But with Solana futures ETFs now listed on the DTCC and spot ETF applications in progress, some believe SOL could make a strong comeback.
While this is happening, StratoVM ($SVM) might gain serious attention with its L2 approach. This new Bitcoin Layer-2 project could bring smart contracts, DeFi, and AI applications to Bitcoin.
Let’s look at the details of both projects.
Solana (SOL) has had a rough ride lately. It dropped to around $140 after a sharp dip earlier this week. But despite the turbulence, there’s optimism thanks to the listing of the first Solana futures ETFs by Volatility Shares on the DTCC.
These ETFs, trading under the tickers SOLZ and SOLT, provide leveraged exposure to Solana futures. This milestone could be a stepping stone toward an even bigger breakthrough—a spot Solana ETF.
Firms like 21Shares, Bitwise, Canary, and VanEck have already submitted applications, and the SEC is currently reviewing them. If approved, it could lead to a surge in demand for SOL.
Andrew Griffiths, a well-known analyst, believes Solana can reach $500 by the end of 2025, provided ETF approvals and adoption trends align.
StratoVM ($SVM) is developing a Layer-2 solution that might bring smart contracts, DeFi, AI applications, and even meme coins to the Bitcoin network.
As Bitcoin struggles with scalability and limited functionality, StratoVM could step in to offer a faster, more flexible ecosystem.
Currently priced at $0.0683, $SVM has surged by an impressive 2,427% over the past week, according to CoinGecko.
SVM 30-day chart, Source: CoinGecko
With its mainnet launch around the corner, the project seems to be at a turning point. If it gains traction, StratoVM could change how Bitcoin is used beyond just a store of value.
Compared to CoreDAO, a Bitcoin Layer-2 valued at $497 million, StratoVM’s market cap of just $1.3m shows there’s plenty of room for growth. While StratoVM is still in its early stages, its low valuation could mean big growth if adoption picks up.
Meanwhile, the Bitcoin DeFi (BTCFi) sector has been on a massive upswing. Total Value Locked (TVL) has soared from $307 million in early 2024 to $5.85 billion by February 2025, according to DeFiLlama. This rapid expansion could mean a growing demand for DeFi solutions within the Bitcoin network.
If StratoVM can carve out even a small share of this booming market, it could see a significant upside in both adoption and valuation.
Momentum is building fast. A recent Uniswap listing has boosted StratoVM’s visibility, and its ecosystem already has 50+ strategic partners. On top of that, speculation of an upcoming centralized exchange (CEX) listing could create even more hype.
But this isn’t just about price. StratoVM’s testnet adoption is already impressive, with over 113,312 wallets registered and 56,200+ daily transactions processed.
If it delivers on its vision, StratoVM could turn Bitcoin into a powerful hub for DeFi, AI, and new blockchain applications, which would transform the entire sector.
As Solana deals with price swings, ETF approvals could be the key to pushing it toward that $500 target. But the bigger story might be StratoVM’s rise—a project that could bring smart contracts and DeFi to Bitcoin.
With huge growth numbers and a tiny market cap compared to others, StratoVM might be worth keeping on your radar in the booming BTCFi space.
This article does not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.
Even though the market remains bearish, the prices of some coins have returned to the green zone, according to CoinStats.CoinStats”>
The rate of Ethereum ETHUSD has declined by 3% since yesterday.TradingView”>
On the hourly chart, the price of ETH is closer to the resistance level of $2,378. If buyers can hold the gained initiative, there is a chance to see a breakout, followed by further growth to the $2,400 area.TradingView”>
On the daily time frame, the rate of the main altcoin has once again bounced off the recently formed support of $2,313.
Even if the candle closes far from that mark, bulls have not accumulated enough energy for a sharp move. In this case, sideways trading in the range of $2,350-$2,540 is the more likely scenario.TradingView”>
From the midterm point of view, there are no reversal signals yet. If the weekly bar closes around the current prices, traders may witness a test of the $2,000-$2,100 zone soon.
Ethereum is trading at $2,350 at press time.
Bitcoin price has been consolidating between $94,000 and $100,000 since early February, hovering around $98,000 at the time of writing on Friday. Despite this consolidation, US Bitcoin spot ETFs data recorded a total net outflow of $489.60 million until Thursday, hinting signs of weakness among institutional investors.
What is the Solana Price Prediction 2030, is this coin still a threat or just a fading star?
Solana made waves with its fast transactions and scalability, but competition in the crypto world is fierce.
Personally, I’ve seen the ups and downs of crypto investments, but Dawgz AI has caught my attention.
With AI-powered trade bots working 24/7, Dawgz AI ensures real-time profits while the market moves.
Why bet on uncertain coins like Solana when you can capitalize on Dawgz AI”s steady growth and massive potential?
Let’s dive into the price forecast and why Dawgz AI might be the smarter choice right now.
Solana started with a lot of excitement. Many thought Solana would revolutionize the cryptocurrency market, especially with its focus on smart contracts and decentralized finance (DeFi).
However, the Solana blockchain faced significant hurdles that slowed its growth. Solana SOL price predictions have fluctuated due to network congestion, rising transaction fees, and increasing competition from newer coins.
Despite its strong start, Solana’s average price has been affected by scalability issues, making investors question whether it can truly keep up.
Solana Sol, the native token, has struggled to gain momentum, and SOL price predictions have become more cautious.
As the Solana team works on addressing these problems, the minimum price of Solana remains uncertain, and the average price seems to be stuck in a holding pattern.
In addition, Solana is still battling a legal dispute with the SEC, which has raised concerns about its regulatory future.
Meanwhile, Solana NFTs are not seeing the same explosive growth they once did, contributing to the price drop many have observed.
While Solana still has a large community and significant backing, its future remains unpredictable.
Dawgz AI is shaking up the crypto world by combining fun with profitability.
With AI-powered trading bots working around the clock, Dawgz AI is offering something unique: the chance to earn passive income while enjoying the ride.
Unlike Solana, which still struggles with scalability and uncertainty, Dawgz AI has real utility through its innovative approach to crypto investment.
Dawgz AI’s bots automatically analyze market trends and make smart trades, ensuring maximum returns for holders. The staking rewards are also an exciting feature, allowing ETH holders to earn passive income with competitive APY.
This makes Dawgz AI an attractive option compared to Solana, especially for investors looking for a steady stream of profits without the complexities of network updates and improvements.
On top of that, Dawgz AI is seeing tremendous presale momentum, with over $2M raised so far.
The next target is $2.1M, and with a price increase on the horizon, now is the time to get in.
With a total number of 8.888 billion tokens, Dawgz AI features a clever planned distribution:
30% allocated to presale (already raised over $2 million, next target $2.1M)
20% dedicated to staking
10% reserved for liquidity
These details show the project’s commitment to long-term growth and sustainability.
Compared to Solana’s price forecast, Dawgz AI’s growth seems much more predictable, making it a safer investment in today’s volatile market.
Solana statistics are still in flux, and its reliance on smart contracts to drive scalability continues to present challenges while Dawgz AI’s roadmap promises consistent, AI-driven returns.
Will you buy Solana or invest in $DAGZ tokens?
SOL predictions are difficult to make, given the ongoing issues with the Solana blockchain and its inability to deliver sustained growth.
While the Solana team is working hard to improve the network, investors are left wondering if Solana SOL can rise to its previous heights.
On the other hand, $DAGZ offers a clear path to profitability.
Dawgz AI also provides staking rewards, allowing investors to earn passive income in a way that Solana simply can’t match.
While Solana’s decentralized finance capabilities are still developing, Dawgz AI has already built a solid foundation for ongoing growth and returns.
This makes Dawgz AI a much more attractive choice for those looking to profit from cryptocurrency market trends today, especially considering its growing market cap.
While Solana still has a strong community, the enthusiasm around the coin has cooled off.
Newer projects, like Dawgz AI, are gaining traction and shaking up the space.
Dawgz AI’s presale success and growing adoption show that people are looking for something more than just hype, they’re looking for real utility and profitability.
$DAGZ’s rise is backed by a community-driven approach that blends fun and serious trading.
Whether you’re into meme coins or serious investments, Dawgz AI offers a platform where both sides meet.
The social media buzz around Dawgz AI is growing, and it’s becoming clear that the project is drawing in a diverse range of crypto enthusiasts.
With the AI-powered technology behind Dawgz AI, it’s no wonder that investors are flocking to it.
People are looking for something new and profitable, and Dawgz AI offers both in spades.
The future of the Solana price forecast looks uncertain.
While the Solana ecosystem has potential, its challenges with scalability and legal issues have put a damper on growth.
It’s hard to say whether SOL price predictions will ever reach their previous highs.
Meanwhile, Dawgz AI continues to gain momentum, offering AI-driven trading and staking rewards that make it an attractive investment.
Its strong presale momentum and well-planned tokenomics indicate that Dawgz AI is the future of crypto market investments.
Whether Solana can recover or not, Dawgz AI seems to have a much more solid roadmap ahead.
While Solana’s future remains uncertain with a fluctuating SOL price and Solana price prediction 2040 showing mixed looks, Solana Labs is still working on improvements.
However, Dawgz AI’s AI-powered technology and solid community make it the go-to choice for investors today.
Solana may still have some potential, but Dawgz AI is the smarter, more reliable choice for those looking to profit in the crypto market.
The Solana price prediction 2025 is highly uncertain due to various factors, including its scalability issues and market competition.
Solana’s progressive approach and advanced blockchain infrastructure have attracted many investors, but its technical analysis and own research suggest it may struggle to reach significant growth unless major improvements are made.
Given the market capitalization and the challenges ahead, it’s tough to predict a steady rise. Investors looking for more reliable profits might find it better to buy Dawgz AI, which is gaining momentum with AI-powered trading and staking rewards, offering consistent returns.
While some might hope for Solana’s progressive approach to help it reach $1000, achieving this level seems unlikely.
With low transaction costs and advanced blockchain infrastructure, Solana is facing heavy competition, and technical analysis suggests it may not hit such high numbers soon.
If you’re thinking about long-term profitability, it’s smarter to look into Dawgz AI.
Unlike Solana, Dawgz AI offers AI-driven trading and staking rewards that are more likely to deliver consistent returns without the uncertainty that surrounds Solana’s price estimate.
Solana’s future remains uncertain, with many price forecasts being conservative due to its scalability issues and fierce competition.
Although its high-performance blockchain platform provides advantages, the SOL token struggles to maintain momentum.
Instead of relying on Solana Sol’s unpredictable growth, it’s wiser to consider Dawgz AI, which offers AI-powered trading and staking rewards.
With strong tokenomics and real utility, Dawgz AI promises a more reliable long-term investment compared to Solana Sol, especially with its market cap rising steadily.
The Solana price prediction $1000 for December 2024 is difficult to determine due to ongoing network challenges and competition.
While Solana’s innovative approach continues to offer potential, the lowest price scenarios suggest Solana SOL might not see the growth expected by some.
For more dependable profits, consider buying Dawgz AI instead.
Dawgz AI is offering something new with AI-powered trading, generating real-time profitability and staking rewards that aren’t dependent on unpredictable network improvements like those of Solana.
XRP has taken a major hit, dropping below $2 for the first time in four weeks. The crypto market is in turmoil, wiping out over $700 billion in just a week as panic selling grips investors. Liquidations have surged to nearly $1 billion in the last 24 hours, leaving traders on edge.
Let’s break down what’s happening.
XRP has lost around 26% of its value in the past week, currently trading below the $2 mark. Despite the steep decline, its trading volume saw a slight jump of 12%, reaching $7.63 billion. However, the token has been fluctuating between $2.25 and $1.99 over the last day, showing continued market uncertainty.
One of the key reasons for XRP’s downfall appears to be the declining network activity. Crypto analyst Ali Martinez pointed out that XRP’s active addresses have dropped by 50% since December, falling from 202,250 to 101,169.
This slowdown in activity suggests that fewer traders are engaging with XRP, which may have contributed to its recent price struggles.
XRP saw a remarkable 500% gain from November to mid-January, but it has been stuck in the $2-$2.5 range since then. To regain momentum, XRP needs to reclaim the 50-day simple moving average (SMA) at $2.72.
If selling pressure continues, the next support levels at $1.72 and $1.50 (200-day SMA) could be tested.
Adding to the bearish pressure, XRP’s Relative Strength Index (RSI) has recently entered an oversold condition, hinting that a potential reversal could be on the horizon if buyers step in.
The broader crypto market is also taking a hit, with Bitcoin dropping below $80K and Ethereum reaching a one-year low.
According to Coinglass, $952 million worth of positions were liquidated in the past 24 hours. This includes $474 million in Bitcoin long positions, $216 million in Ethereum longs, and $25.28 million from XRP traders.
In total, 226,501 traders faced liquidation, with the biggest single order happening on HTX for the BTC-USDT pair, valued at $38 million.
XRP remains under pressure, but with its RSI showing oversold conditions, a potential rebound is possible if buyers return. As the broader market struggles, all eyes will be on key resistance and support levels to see where XRP goes next.
Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.
XRP fell below $2 due to strong selling pressure, declining network activity, and overall crypto market liquidation exceeding $952M.
XRP traders faced $25.28 million in liquidations within 24 hours, as part of a broader $952M market-wide crypto liquidation event.
The hype around the Solana price got to a new low these past few days as the coin hit a new multi-month low below the $160 support zone. However, with the price dip at $130, investors are increasingly optimistic as many believe this could be the best point to buy. Experts’ opinions have also pointed to this range as a possible recovery point. Interestingly, the daily candle has formed a green candle, indicating a reversal above the $130 price range.
Could this be a valid rebound zone for the Solana price? Analysts’ projections have combined a number of factors that make the Solana price prediction fit this zone as a possible position for a rebound in investors’ confidence, price action, and zone strength. With Solana price predictions coming in with a strong bullish tone earlier this year, it could suggest a strong community backing for price growth this year.
However, one smooth opportunity investors are discovering lately is combining the Solana investment with the new Panshibi token to boost their portfolio growth. This is because of the growing analysts’ projections that the Panshibi meme coin could be heading for 100x this year. This forms a perfect blend with the Solana rebound, as it could help investors quickly get back on a profit path again this year.
Interestingly, Solana started the year on a strong bullish path that saw it at a new ATH, reaching above $290 at the end of the bull run in January. However, while the first part of the year has seen the Solana price prediction looking very possible, the last few weeks have not shown high optimism. This is currently casting a shadow of doubt around the earlier prediction as the coin continues to find new lows.
However, the recent outlook shows that the Solana price might be on a rebound path with a high optimism set to see the coin come back. The coin hit a new low at $130 in the early hours of today, but it seems to be hitting a lot of buy orders as it makes an instant recovery, seeing it hovering around $140 already.
This is not much progress if the 41% price drop in the last 30 days is considered. However, analysts believe this could validate the projection of a rebound at this zone, putting the prediction back on track.
While Solana made one of the best price movements earlier this year, Panshibi is set to make a bigger move. The Panshibi meme coin is eyeing a breakout that analysts believe could see the Panda meme take over as the most viral meme coin this year. There are already forecasts that the Panshibi coin will go on about 100x after its launch on exchanges.
The ongoing presale has set a template that puts the coin on track to become the best-performing meme coin this year. Eleven stages are still set to give investors up to 5x in the presale, making the presale and post-sale stages profitable. However, beyond the presale profits, the Panshibi presale also offers an opportunity for investors to get the lowest price to buy the token.
As the Solana price prepares for a comeback, a portfolio paired with the Panshibi coin could be your best investment decision this year. This is because the Panshibi meme coin investment is set to help you maximize your profit this year.
Now will be a great time to start with the Panshibi meme coin still at a low of $0.005. Check the links below to start on your journey of profit recovery today by checking the Panshibi presale page using the link below.
Join the Panshibi presale today for $0.005 per token;
Telegram: https://t.me/panshibi
Twitter: https://x.com/panshibi_
Website: https://panshibi.com
Last Updated:
ETF outflows and Trump’s EU tariff threats have pressured the cryptocurrency market.
Why Bitcoin Is Falling: The cryptomarket is facing a sell-off pressure as Bitcoin, the world’s largest cryptocurrency, has fallen below the $85,000 mark to trade at $83,740 on Thursday during intra-day, which is over 20 per cent down from its January peak of $109,350. This is the largest sell-off in 2025. Experts said ETF outflows and US President Donald Trump’s EU tariff threats have pressured the market, and Bitcoin (BTC) might experience a potential drop to $74,000.
As of 10:38, the live price of Bitcoin stood at $84,916.18 per (BTC/USD) with a current market cap of $1,683.86B. The 24-hour trading volume is $67.37 billion. Bitcoin declined by 4.61 per cent in the last 24 hours with a circulating supply of 19.83 million, according to binance.com.
Avinash Shekhar, co-founder and CEO of Pi42, said, “The crypto market has entered a bear phase with Bitcoin declining over 20 per cent from its January peak of $109,350 to an intraday low of $83,740. Bitcoin’s decline below $85,000 is the largest sell-off of 2025, with 79,300 BTC sold at a loss in 24 hours, and a $300 billion flash crash in the crypto market signals rising volatility and investor anxiety.”
According to CoinSwitch Market Desk, BTC fell by another 4 per cent within a day as the world’s largest crypto asset has now lost more than 3 per cent three days in a row, first time since August 2024.
Why Is Bitcoin Falling?
US President Donald Trump’s threat to impose 25 per cent tariffs on the European Union has dented investor sentiment, thus causing massive sell-off in Bitcoin.
Avinash Shekhar, co-founder and CEO of Pi42, said, “ETF outflows and Trump’s EU tariff threats have further pressured the market; BTC can experience a potential drop to $74,000.”
According to CoinSwitch Markets Desk, the latest selloff was most likely triggered by Trump announcing his plans to impose 25 per cent tariff on the EU in his first Cabinet meeting. In the stock market also, the S&P500 fell to their session lows as well on Wednesday.
Echoing a similar view, Sonu Jain, chief risk and compliance officer of 9Point Capital, said, “Bitcoin’s drop below $85,000 reflects broader market movements where declines in tech equities, notably on the Nasdaq, underscore a pervasive risk-off sentiment. Trump’s proposed tariffs and ensuing inflation concerns have set the tone across both traditional and digital asset classes.”
Apart from Bitcoin, other cryptocurrencies were also down. Ethereum was trading 6.45 per cent lower to $2,329.31 on Thursday as compared with the previous day. XRP was also down by $4.26 to $2.20.
XRP’s open interest has hit its lowest level in 2025, reflecting broader uncertainty in altcoins also.
However, several altcoins have now started to show strength many like AI16Z, APT now printing three consecutive green daily candles, a rate feat with BTC falling at the same time, according to CoinSwitch Markets Desk.
“On the institutional side, Bitcoin ETFs shattered another record as we saw a net outflow of close to 930 million dollars, the highest ever since the BTC ETFs started trading in January last year. While the price of Bitcoin has really struggled as this pans out, this can be a good thing as well if this money comes back to the altcoin market,” it said.
What’s Next?
Analysts said Bitcoin’s drop is driven by short-term market pressures, including US Bitcoin ETF sell-offs and selling pressure following Trump’s tariff announcement. They added that Bitcoin’s long-term fundamentals remain strong, according to on-chain statistics that suggest long-term holders are continuing to accumulate. The analysts, however, said the coming weeks will test whether Bitcoin and crypto can withstand these pressures or if further declines are on the horizon.
Pi42’s Avinash Shekhar, said, “Institutional selling and macroeconomic instability have shaken confidence, raising questions about whether the crypto market is facing a temporary correction or the start of a deeper downturn. While Bitcoin’s dominance is rising, suggesting some long-term faith remains, the increasing frequency of flash crashes and aggressive liquidations indicates a fragile market. The coming weeks will test whether Bitcoin and crypto can withstand these pressures or if further declines are on the horizon.”
He said BTC might experience a potential drop to $74,000.
Sonu Jain, chief risk and compliance officer of 9Point Capital, said, “While ETF outflows continue to pressure short-term trading, a similar pattern is observable in equity markets. A rebound in Bitcoin will likely depend on a broader return of risk appetite and institutional support across the board, as volatility remains elevated for now.”
Regardless of these hurdles, Bitcoin’s long-term fundamentals remain strong, according to on-chain statistics that suggest long-term holders are continuing to accumulate. Bitcoin’s status as a global asset class is becoming increasingly apparent, despite the reasonable expectation of volatility, he added.
Thangapandi Durai, CEO at Koinpark, said, “Bitcoin’s drop below $85,000 is driven by short-term market pressures, including US Bitcoin ETF sell-offs and selling pressure following Trump’s tariff announcement on Mexico and Canada. As regulatory clarity improves and the upcoming Bitcoin halving approaches, we expect market sentiment to stabilise. Market Corrections are a natural part of crypto’s growth, often creating strategic accumulation opportunities.”
Cardano (ADA) price is extending its decline by nearly 7%, trading around $0.60 on Friday after falling 23% this week. Santiment data support this decline as ADA daily active addresses are falling, and the technical outlook indicates a continued correction, with ADA potentially facing an additional double-digit decline.
Cardano price faced rejection around its descending trendline (drawn by connecting multiple highs since mid-January) on February 21, and it declined 15% until Monday, closing below its weekly support level at $0.74. ADA continued its decline in the next three days by nearly 6%. At the time of writing on Friday, it continues its correction, trading around $0.59.
If ADA continues its downward momentum, it could extend the decline by nearly 16% from its current levels to retest its Feburary 3 low of $0.50.
The daily chart’s Relative Strength Index (RSI) indicator reads 28, below its oversold conditions and points downwards, indicating significant selling pressure but technically may be due for a potential reversal or bounce. However, traders should be cautious as the RSI may remain below oversold levels and continue correcting.
ADA/USDT daily chart
Santiment’s Daily Active Addresses index, which tracks network activity over time, also paints a bearish picture for Cardano. A rise in the metric signals greater blockchain usage, while declining addresses point to lower demand for the network.
In ADA’s case, Daily Active Addresses fell from 49,585 in early February to 24,609 on Friday, extending a downtrend starting mid-January. This indicates that demand for ADA’s blockchain usage is decreasing, which doesn’t bode well for Cardano’s price.
ADA daily active addresses chart. Source: Santiment
Related news
The ongoing trade and tariff wars, particularly with China, are causing bearish sentiment in the market. Both the stock market and crypto assets like Bitcoin are showing significant declines. This week, Bitcoin ETFs saw massive outflows.
On Monday, over $500 million left, followed by a staggering $11 billion outflow on Tuesday, the largest in history. Wednesday saw another record with $754 million leaving the Bitcoin ETFs, particularly affecting the BlackRock Bitcoin ETF. In response to the outflows, BlackRock had to sell a record amount of Bitcoin on Wednesday to fulfill the withdrawal requests, marking the largest single-day Bitcoin sale for the ETF provider.
As for Bitcoin price, the largest cryptocurrency has dipped below $80,000 and most altcoins have followed suit. XRP is down by more than 9% and is dangerously close to dropping below the $2 mark. Over the last 24 hours, XRP has confirmed a daily candle close below a crucial support zone between $2.25 and $2.30. According to analyst Josh of Crypto World, this area has previously shown multiple bounces, making it a key level for traders. With this break, the next significant support lies between $1.95 and $2.
Next Major Support at $2
If the price drops below the $2 level, specifically under $1.95 or $1.90, it could signal more major losses for XRP. This would likely lead to much lower price levels in the near future.
Current Bearish Trend
XRP is currently in a bearish trend, marked by breaking below support levels, rejecting resistance, and forming lower highs and lows. This bearish price action suggests further downward movement in the short term.
Bitcoin and Stock Market Impact
As often seen with major altcoins, XRP’s price action tends to mirror Bitcoin and the broader stock market. With Bitcoin and stocks showing weakness, many altcoins, including XRP, are also experiencing downward pressure.