All articles tagged with #price recovery
XRP's price has risen above $2 following a significant supply lock of over 500 million tokens until 2028, reducing circulating supply and potentially boosting price due to increased demand and institutional interest. Long-term holder accumulation supports the rally, but sustained momentum requires holding key support levels. The move marks a notable recovery and a shift in market dynamics for XRP.
Bitcoin, Ethereum, and Dogecoin experienced a sharp decline following a flash crash, with Bitcoin dropping to $94,355 before recovering to the high $97,000s. The crash led to $1.72 billion in cryptocurrency liquidations, primarily affecting leveraged long positions. Despite the volatility, long positions for Bitcoin increased, indicating optimism for future price rises. Analyst Justin Bennett highlighted critical support levels for Bitcoin, while CryptoQuant noted strong buying pressure from U.S. institutional investors. The global cryptocurrency market cap fell by 5.37% to $3.48 trillion.
Cardano (ADA) experienced a significant price drop in April, losing over 40% of its value. Despite ongoing bearish sentiment, a bullish falling wedge pattern on its daily chart suggests a potential recovery. On-chain metrics like the MVRV ratio and high transaction velocity also hint at a possible rally. However, the Relative Strength Index (RSI) remains a concern. For a full recovery, ADA needs to break above $0.467, with a target of reaching $0.5. Currently, ADA trades at $0.4609 with a market cap of over $16 billion.
Bitcoin's price has rebounded to around $66,610 after dropping below $63,000 over the weekend, with the wider crypto market also recovering. The weekend crash was attributed to geopolitical tensions in the Middle East, leading investors to seek safe haven assets like gold. The market upheaval also coincides with Bitcoin's upcoming block reward halving, contributing to increased volatility and uncertainty among market participants.