On-chain data shows the Bitcoin Profitability Index is at 202% right now. Here’s how this compares with past bull runs of the asset. Bitcoin Average Profitability Index Has Been Rising Recently In a new post on X, CryptoQuant author Axel Adler Jr. discussed the latest trend in the Average Profitability Index of Bitcoin. The “Average Profitability Index” is an on-chain indicator that tells us about how the spot price of the asset compares against its realized price. The “realized price” here is a measure of the cost basis of the average investor or address on the Bitcoin network. The Average Profitability Index is calculated as a percentage, with the 100% mark corresponding to the spot price being equal to the realized price. When the value of this indicator is greater than 100%, it means the asset is currently trading above the cost basis of the average investor, so the overall market could be assumed to be in a state of profit. On the other hand, it being under this cutoff suggests the holders as a whole are carrying their coins at a net unrealized loss. Now, here is a chart that shows the trend in the Bitcoin Average Profitability Index over the past decade: As displayed in the above graph, the Bitcoin Average Profitability Index has been above 100% since last year, which suggests the investors as a whole have been enjoying profits. The indicator’s value had spiked to particularly high values earlier in this year when the rally towards the new all-time high (ATH) had occurred. With the latest recovery run that the coin has seen, the indicator has been picking up once again, although it’s still a notable distance away from the level seen during the ATH. At present, the BTC Average Profitability Index is floating around 202%, which implies the spot price is double that of the realized price. Historically, the indicator reaching extreme levels has generally led to tops for the asset. This is because the investors’ temptation to participate in profit-taking increases the larger their gains. “When the index rises above 300%, investors are likely to start taking profits actively,” notes the analyst. The chart shows that the last two times that the Bitcoin Average Profitability Index surpassed this 300% mark was during the heights of the 2017 and 2021 bull runs. Thus, according to this historical pattern, Bitcoin’s current bullish period may not end until the indicator enters the zone above 300%. BTC Price At the time of writing, Bitcoin is trading at around $67,400, up 1% over the last seven days.

Singapore, Singapore, October 23rd, 2024, Chainwire On October 23, MEETLabs officially announced the launch of its incubated TON ecosystem fishing clicker game, COINFISH. As of now, the Telegram community channel has surpassed 130,000 users. COINFISH (https://t.me/CoinfishBot) is a Web3 game combining fishing and simulation management. In the game, players engage in fishing by clicking to feed stray cats, participate in the fish market management, and nurture the cats, enriching the game’s interactivity and entertainment. Players can also receive in-game cash rewards by inviting friends to join the game. It is reported that COINFISH (https://t.me/CoinfishBot) is set in a fictional world where it tells the story of a group of stray cats and the polar bear Og’s adventures. In this world, due to war and environmental pollution, the ecosystem has been destroyed. The stray cats rebuild their home in “Pearl Bay” and begin a new life. The game’s character design is inspired by popular brand icons such as the Sanrio family, which potentially enhancing the game’s appeal and cultural resonance. Og, the polar bear and star of the circus, is intelligent and brave, and together with the stray cats, embarks on a journey to find a new home and save the Earth’s environment, becoming their loyal companion and bodyguard. Over time, their life in “Pearl Bay” becomes more colorful, as they accumulate a large amount of fish coins and build deep friendships through mutual support and encouragement, bringing peace and beauty to this fragile world. The game features of COINFISH (https://t.me/CoinfishBot) include a parallel combination of fishing and simulation management modes. Players are not required to be online continuously to fish; they can increase the “hourly profit” parameter through fish market simulation management. The game has a referral system and diverse gameplay, with daily activities and task systems to simplify the gaming process, allowing players to earn daily rewards and engage in beneficial interactions with friends. Players can also invite friends to join the game and earn in-game cash rewards. Additionally, players can create their own cat-raising circle, invite friends to jointly care for virtual cats, share Bonus rewards, enhancing the social aspect and engagement of the game. Furthermore, MEETLabs’ incubated Crypto Gaming project, CryptoPlay, includes a series of large-scale Web5.0 game products such as CoinFishing, CoinHunting, and Monopoliverse (available for both PC and mobile). These games utilize neural networks and AI deep learning technologies to achieve deep matching and dynamic balancing of user parameters and in-game values, delivering highly personalized experiences for each player. This brings significant iterative advancements to traditional gaming products. Among these, CryptoPlay’s first release, CoinFishing, is set to launch in Q4 2024, further enriching and deepening the gameplay experience of COINFISH (https://t.me/CoinfishBot). As the pre-launch operational phase of the fishing game CoinFishing, COINFISH will continue to provide more Play2Earn opportunities for community contributors and highly engaged players. About MEETLabs MEETLabs is an innovative lab focusing on blockchain technology and the cryptocurrency field, and also serves as the incubator of MEET48. MEET48 is considered one of the largest Web3 application project teams globally, with a technical and R&D team of 500 people, spanning regional operational networks in Singapore, Hong Kong, Taipei, Tokyo, Seoul, and Dubai. MEET48 aims to achieve mass adoption of Web3 technology through its AI UGC content ecosystem, focusing on AIGC (Animation, IDOL, GAME, and Comics) for Gen Z trend entertainment content, as well as its graphical and intelligent metaverse social platform. MEET48 Official Website: https://www.meet48.xyz/ Twitter (X): https://x.com/meet_48 Telegram: https://t.me/MEET_48 Discord: https://discord.gg/meet48 Contact Marketing Director Siyu Yang MEET48 [email protected]

MAGA token faces volatility amid US election tensions and trader uncertainty. Dormant wallet withdrawal signals potential strategic movements affecting market dynamics. The current US election cycle has not only ignited political discourse but also intensified activity in the world of PoliFi tokens. The MAGA token, which saw a meteoric rise to $3.35 with a triple-digit surge earlier, is now down by 4% over the last 24 hours, trading at $3.07. This sudden drop follows a broader downturn in similar politically themed tokens such as PEOPLE, TREMP, and STRUMP, all facing declines ranging from 2% to 8%. Despite this short-term drop, TRUMP remains up 68% for the month, perplexing traders with its volatility. The token’s correlation with political headlines suggests that the fluctuation may be driven by market sentiment linked to election news. Meanwhile, a dormant wallet’s recent activity added fuel to the speculation. After two months of inactivity, this wallet withdrew 4.26 million TRUMP tokens (worth $13.9 million) from the MEXC exchange, prompting theories about possible election-related strategic plays. What MAGA Traders Can Look Forward? Technical indicators for MAGA (TRUMP) suggest that the token is testing a support level around $3, with resistance near $3.40. A breach below support could result in further losses, while holding this level might signal a potential rebound, especially as political drama surrounding the elections continues to unfold. TRUMP Prie Chart, Source: Sanbase Traders remain cautious but hopeful that political developments and social media buzz could drive the next wave of growth for MAGA and other PoliFi tokens . Given the high sensitivity to news cycles, market players are likely to rely on sentiment-driven strategies in the near term. The daily RSI of the MAGA is at 46, indicating that is nearing oversold condition, stressing the prevailing bearish momentum. With elections around the corner, both the political and crypto landscapes are expected to stay intertwined, with tokens like MAGA poised to react to even the slightest shift in electoral momentum. As always, market participants should brace for continued volatility. Highlighted News Of The Day Vitalik Buterin Charts Ethereum’s Next Phase with ‘The Verge’

SUI, the native token of the Sui Network, has seen a 13% pullback in the past seven days, halting its bullish rally. The cryptocurrency broke from a 1-month structure, fueling a bearish sentiment among market watchers, who foresee further downside for the token. SUI Loses Key Support Zone SUI has been on a downtrend this week, losing the recently gained levels alongside most of the market. The cryptocurrency saw a 5.3% drop in the last 24 hours, which has worried some investors and crypto analysts. The token registered one of the best performances during Q3, leading the market as one of the few altcoins registering green numbers in most timeframes. SUI started the month by recording a 15% weekly surge, which fueled its rally toward its new all-time high (ATH). Additionally, the token jumped 25% from its monthly opening, shooting past the $2 barrier to reach a new ETH of $2.35. However, its bullish rally was overshadowed by insider selling allegations on October 13. Market expert LightCrypto alleged that SUI’s performance would be affected by insiders’ continuous selling, who had unloaded $400 million in SUI tokens. Following the allegations, the cryptocurrency faced a 15% daily correction but remained above the crucial $2 support level. Since then, the cryptocurrency has moved sideways, hovering between the $2-$2.15 price range until today. On Tuesday morning, SUI lost the $2 support, plunging 6.5% toward the $1.87 mark before recovering the $1.90 zone. The token’s dip represented a 13% decline from its price seven days ago and an 18.4% drop from its ATH. Is A 30% Pullback Looming? Following SUI’s recent price action, some crypto analysts revealed that another pullback seems to be looming. Crypto analyst Altcoin Sherpa weighed in on the markets’ current performance, as it slowed down after Bitcoin’s surge to $69,000 on Sunday. Sherpa considers the market’s rally momentarily paused, highlighting that “most alts are either pulling back or consolidating.” To him, the tokens that recorded a strong run in September, including Bittensor (TAO) and SUI, have “a bit more pullback to go” before resuming their rally. The analyst forecasted a 25% to 30% correction toward the $1.4 support zone or lower, detailing that there will probably be “plenty of bounces” along the way. Similarly, crypto investor Doji noted that the cryptocurrency broke “a massive 1-month stricture to the downside.” The investor revealed that the token dropped below the lower trendline of a broadening wedge pattern on its 1-month chart. Doji suggested that SUI will retest the pattern before dropping lower toward the lower liquidity spot at $1.4. Nonetheless, he expects “to see the middle of the macro range at some point.” Despite the drop, SUI registers a 30.7% surge in the monthly timeframe, trading at $1.92 at the time of writing.

The crypto market is witnessing a familiar scenario as investors once loyal to Ripple (XRP) are rapidly shifting their focus. Following the turbulence caused by the 2020 SEC lawsuit, XRP’s momentum has weakened, losing nearly 90% of its value since its 2018 highs. With no significant price recovery in sight, crypto enthusiasts are now setting their sights on Rexas Finance, a promising token priced under $0.09 that offers real-world asset tokenization. Ripple’s Continuing Struggles XRP, once a heavyweight in the crypto space, has seen its influence decline since the lawsuit by the U.S. Securities and Exchange Commission. Despite some recovery attempts, XRP has struggled to regain significant market traction. Attempts to break past resistance levels have repeatedly faltered, pushing many investors to explore other opportunities. Ripple’s new initiatives like AWS Cloud integration and XRPL tokenization have not been enough to reignite confidence in its future. As the price continues to hover near $0.50, crypto investors are now looking for alternative investments with stronger potential. Rexas Finance Leading the Shift Amid XRP’s uncertain future, Rexas Finance (RXS) has emerged as a compelling alternative, particularly due to its pioneering role in real-world asset tokenization. This innovative approach allows investors to purchase fractional or full ownership of assets like real estate, gold, and other commodities with ease. The platform’s tools are already gaining traction. The Rexas token builder simplifies the process of tokenizing real-world assets, providing users with an efficient way to list and manage their investments. Additionally, the Rexas launchpad allows individuals to raise capital for their tokenized assets, further expanding the possibilities for investors. Rexas Finance’s Innovative Features In addition to tokenizing assets, Rexas Finance offers a range of tools to enhance the user experience. The Rexas Quickmint Bot simplifies the process of token creation, while Rexas GenAI and Rexas AI Shield enhance security and efficiency, ensuring a seamless investment process. These tools are bridging the gap between blockchain technology and real-world assets, making Rexas Finance a leader in the crypto space. Rexas Finance also emphasizes community involvement through its public presale, which has gained significant momentum. The first three presale stages sold out quickly, raising $2.75 million. Currently in its fourth stage, the token price has doubled to $0.06, and investors who enter now stand to gain a 3.3x return on launch. So far, $3,642,414 has been raised, showcasing strong interest from the public. Rexas Finance’s Market Impact With a focus on transparency and decentralized finance, Rexas Finance is listed on CoinMarketCap, enhancing its visibility and credibility. This listing introduces Rexas Finance to a wider audience, attracting traders and investors alike. The platform’s community engagement is increasing, solidifying Rexas Finance’s reputation as a key player in the crypto market. As part of its expansion efforts, Rexas Finance has also launched a $1 million giveaway, giving 20 lucky winners the chance to win $50,000 USDT each. This initiative adds to the excitement surrounding Rexas Finance, further fueling its rapid growth in the market. Conclusion As Ripple (XRP) struggles amid legal challenges and lackluster price action, Rexas Finance offers a fresh alternative for crypto investors. With its real-world asset tokenization, innovative tools, and strong presale performance, Rexas Finance is well-positioned to attract investors looking for high growth potential. By capitalizing on massive markets like real estate and commodities, Rexas Finance is creating new opportunities and changing how assets are bought and sold globally. With a rally as high as 10,000% anticipated post-launch, Rexas Finance is the next big player in the crypto market. For more information about Rexas Finance (RXS) visit the links below: Website: https://rexas.com Win $1 Million Giveaway: https://bit.ly/Rexas1M Whitepaper: https://rexas.com/rexas-whitepaper.pdf Twitter/X: https://x.com/rexasfinance Telegram: https://t.me/rexasfinance Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this article does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research.

Vitalik says a structured governance model is needed for secure upgrades. Decentralization remains crucial, but user participation in governance is low. Vitalik Buterin’s latest piece, “Possible Futures for the Ethereum Protocol, Part 4: The Verge,” delves into critical aspects of Ethereum’s future, focusing on scalability, security, and the need for robust governance mechanisms. Buterin emphasizes the urgency of addressing these challenges to ensure Ethereum’s long-term viability. One core topic Buterin discusses is scalability, particularly the implementation of Layer 2 solutions. He highlights that while Ethereum has made strides with rollups, further innovation is necessary. Rollups, which bundle multiple transactions into a single proof, help increase throughput. However, the challenge lies in maintaining decentralization while scaling. Buterin advocates for enhancing interoperability between Layer 1 and Layer 2 systems, ensuring a seamless experience for users. He notes that developing effective bridges between chains can facilitate the transfer of assets and data, enhancing overall network efficiency. Vitalik Buterin’s Solutions for Ethereum’s Security Buterin addresses the security of the Ethereum protocol, pointing out that as Ethereum scales, the attack surface increases. For instance, he proposes improving the security of the Ethereum Virtual Machine (EVM) to protect against vulnerabilities. Enhancing the EVM’s robustness could involve introducing formal verification methods and developing better programming languages like Vyper that prioritize security. These languages can reduce the risk of common vulnerabilities such as reentrancy attacks and integer overflows. Another aspect Buterin explores is governance within Ethereum. The current governance system, while functional, often excludes users who lack the technical knowledge to engage. Buterin suggests developing user-friendly governance tools, such as decentralized autonomous organizations (DAOs), that simplify the process of contributing to decision-making. Buterin introduces the concept of on-chain governance, where protocol upgrades are decided through community votes. He envisions a system where stakeholders can propose and vote on changes in a transparent manner. This model can use mechanisms like quadratic voting, which allows users to express the intensity of their preferences, thus enhancing accountability. Moreover, Buterin emphasizes the need for continuous research and development. He calls for more investment in Ethereum’s infrastructure, particularly in areas related to zero-knowledge proofs (ZKPs) and optimistic rollups. ZKPs can enable private transactions while maintaining security, while optimistic rollups can enhance scalability by processing transactions off-chain. Finally, Buterin discusses the potential for layered security mechanisms that can enhance the overall resilience of the Ethereum protocol. By integrating multi-signature wallets and decentralized identity systems, Ethereum can provide users with greater control over their assets and reduce risks associated with centralized management. Highlighted Crypto News Today Sky Branding Dilemma Deepens Amid Founder’s Transactions

As Bitcoin experiences a gradual recovery in its price performance, a new analysis sheds light on the cryptocurrency’s broader market stance. A CryptoQuant analyst known as “Crazzyblockk” recently shared an in-depth study on Bitcoin’s quarterly performance, focusing on key metrics like the asset’s market capitalization and realized capitalization. According to the analyst, examining these metrics every quarter can offer valuable insights into long-term trends and potential future price movements. Current Market Signals Resemble 2021 Boom The analysis highlights how fluctuations in Bitcoin’s market cap and realized cap signal bullish and bearish trends over time. Market cap refers to the total value of all BTC in circulation, while realized cap measures the value based on the price at which each Bitcoin last moved. Historically, when the market cap grows faster than the realized cap, it often signals the beginning of selling pressure, leading to bear markets. Conversely, when the market cap declines while the realized cap holds steady or rises, Bitcoin tends to find its price bottom, indicating potential buying opportunities. Crazzyblockk’s analysis parallels Bitcoin’s current market situation and behavior during the 2021 boom. During that period, rapid market cap growth led to significant selling pressure, eventually correcting prices. According to the analyst, Bitcoin is currently in a similar position. While the market cap has seen a notable increase, the realized cap continues to rise, indicating the possibility of another major price correction on the horizon. The analyst’s study also points out that sustained growth in the realized cap, without corresponding support from the market cap, tends to trigger corrections as investors realize their profits. This phenomenon is particularly relevant in the current market environment, where Bitcoin’s price has surged in recent months but faces challenges in maintaining its upward trajectory. Crazzyblockk warns that a correction may be inevitable if Bitcoin’s market cap cannot sustain its current levels. Bitcoin Market Performance Meanwhile, Bitcoin appears to be seeing a cooling-off in the positive price performance seen earlier in recent weeks. So far, the asset has increased by nearly 10% in the past 14 days, reclaiming major highs and even approaching the $70,000 price mark with a high of $69,227 seen yesterday. However, the past-day performance of Bitcoin suggests a cool-off of this price increase. Over this period, Bitcoin had fallen below $67,000 with a current trading price of $66,980. Regardless of this price correction, some analysts remain bullish. Particularly, a renowned crypto analyst known as Moustache on X has recently highlighted in a recent post that “Bitcoin has broken out of a falling channel that has been in place for over 7 months.” The analyst added that this price action is “reminiscent” of 2020 before the rally. Commenting on the ongoing decline in BTC, the analyst said: “Are bears celebrating a retest? They will be surprised soon. Featured image created with DALL-E, Chart from TradingView

Paris Saint-Germain is proud to announce a landmark partnership with Matchain, a leading blockchain platform specializing in AI and decentralized identity. This collaboration will run across three seasons, from 2024 to 2027, setting the stage for an unprecedented fusion of blockchain technology and professional football. As the Exclusive Digital Identity Partner of the Club, Matchain will integrate its decentralized identity (DID) and data sovereignty solutions to transform fan engagement and user data security. Furthermore, both companies intend to establish a Joint Innovation Studio driving the club’s Web3 innovation. Through this integration, Paris Saint-Germain will empower its global fanbase with personalized, secure, and innovative digital interactions that will transform the way supporters connect with their beloved team. This partnership is the future of sports technology. Fans will no longer be passive observers but active participants in a fully integrated, decentralized ecosystem. Matchain’s blockchain-powered platform will introduce Paris Saint-Germain fans to a new era of ownership, privacy, and personalization, offering unprecedented control over their digital interactions with the club. This partnership will bring Matchain’s advanced AI-driven decentralized identity platform to life, creating seamless and secure experiences for millions of PSG fans across the globe. The Joint Innovation Studio envisions bringing together PSG, Matchain, and industry-leading Web3 experts to collaboratively drive the future of Web3 development at the Club. This initiative aims to continuously explore and integrate cutting-edge technologies that enhance fan experiences, keeping Paris Saint-Germain at the forefront of digital transformation in sports. Through this collaborative effort, the studio is poised to incubate groundbreaking innovations that will set new standards in the sports world. Petrix Barbosa, CEO of Matchain, commented: “We are excited to embark on this journey with Paris Saint-Germain, a club that shares our vision for innovation and cutting-edge technology. Through the Joint Innovation Studio, we will bring Web3 experiences to the football community, creating new opportunities for fan engagement and data empowerment.” Nicola Ibbetson, Global Partnership Director at Paris Saint-Germain, added: “This partnership reflects PSG’s vision of remaining a leader in digital transformation in sport. We are thrilled to join forces with Matchain to explore new ways of engaging with our fans and continuing our commitment to technological innovation.” Pär Helgosson, Head of Web3, PSG, commented: “At PSG, we have always been committed to being at the forefront of digital innovation. This partnership with Matchain reinforces that commitment. By integrating decentralized identity solutions, we are not only enhancing our fans’ experiences but also prioritizing their privacy and security. Together, we’re bringing a new level of engagement and personalization to the world of football.” Through this partnership, Matchain will access PSG’s global marketing platform, utilizing exclusive content creation, dynamic stadium advertising, and PSG’s influential social media presence. Matchain will also benefit from exclusive VIP experiences, strengthening its brand visibility across the global sports community. About Paris Saint-Germain Founded in 1970, Paris Saint-Germain (PSG) stands as France’s most successful sports franchise and one of the elite football clubs in Europe. Since its acquisition by Qatar Sports Investments (QSI) in 2011, PSG has achieved remarkable success both on and off the pitch. The Club has secured a record-breaking 12 national championship titles and a total of 51 trophies since its founding, including an astounding 32 trophies since 2011. PSG has been home to some of football’s biggest stars, including Ronaldinho, Beckham, Ibrahimović, Messi, and Neymar Jr., and currently features some of the world’s top players. With a rapidly growing global fan base of over 200 million social media followers, PSG ranks among the largest and most influential clubs and brands in world sports. PSG, considered as the club of the new generation, is known for its innovative and forward-thinking approach. The Club has expanded beyond traditional football by establishing an Esports team and supporting men’s soccer, women’s soccer, handball, and judo teams. About Matchain Matchain is a cutting-edge blockchain platform designed to revolutionize how users interact with and control their personal data. By leveraging advanced AI-driven decentralized identity solutions, Matchain ensures the highest standards of privacy, security, and data sovereignty. Users are empowered to take full ownership of their digital information, with the ability to monetize and manage it within a secure, transparent ecosystem. As the first AI-focused Layer 2 on the BNB Chain, Matchain is pioneering the integration of AI algorithms with blockchain technology, offering seamless, user-centric experiences for both individuals and businesses. Media contact Anastasia Drinevskaya Chief marketing officer at Matchain [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

Bitcoin has retreated to the $67K range after reaching a weekly high of $69,450 on Oct 21. Tesla now holds over 11,509 BTC, and MicroStrategy owns 252,220 BTC. Bitcoin has slipped back to the $66K range after starting the week strong and reaching an intraday high of $69,450 on October 21. Currently, the cryptocurrency is attempting to recover, climbing back to $67K after hitting an intraday low of $66,612. Earlier today, Bitcoin tested the $67,700 resistance zone but struggled to maintain that level. At the time of writing, the price saw a slight increase and traded at $67,176. Meanwhile, institutional involvement in Bitcoin appears to be on the rise. Recent reports from intelligence firm Arkham reveal that Elon Musk’s Tesla currently holds over 11,509 Bitcoins ($772 million). In addition, MicroStrategy, led by Bitcoin advocate Michael Saylor, now holds a staggering 252,220 Bitcoins, valued at approximately $9.91 billion. Further, on Monday Bitcoin’s 7-day moving average (7DMA) hashrate hit an all-time high of 703 EH/s, marking a 13% rise since April’s halving event. This surge indicates growing miner activity, which could influence future price movements. 24-H Technical Analysis for Bitcoin On the technical front, Bitcoin’s price is almost nearing the 23.6% Fibonacci retracement level from its recent swing low of $66,536 to its swing high of $69,875. However, it remains below $67,300 and the 9-day Exponential Moving Average (EMA), with a Relative Strength Index (RSI) of 47, signaling a neutral market stance. A contracting triangle is also forming on the 4-hour chart, with support at $66,677. Looking ahead, if Bitcoin breaks the key resistance level at $67,250, it could target higher levels around $67,890 and $68,130. However, if the price loses momentum, support levels at $66,320, $65,760, and $65,100 may come into play. A break below these levels could push BTC down to $57,000. Today BTC is expected to trade in the range between $66,580 support and $67,800 resistance. Highlighted Crypto News Today Worldcoin Moves $12M Worth WLD To 5 Market Makers

Worldcoin has slipped to $2.27, plummeting by 1% over the past 24 hours. Worldcoin’s multi-sig wallet address transferred a total of 5.3 million WLD tokens. The cryptocurrency market’s recent momentum is on the downside. All the major assets have fallen back to the immediate support levels. Besides, the crypto market has registered $117.25 million in liquidations over the past 24 hours. Among the fluctuating altcoins, Worldcoin (WLD) has retracted back to its bearish rally after the moderate gains acquired in the past few days. However, the current market volatility might push back the asset’s price. Over the past 24 hours, the asset peaked at $2.32, and its low is observed at $2.19. At press time, WLD traded at $2.27, losing over 1%. According to CMC data, its daily trading volume has plunged over 16% to $197 million. Consequently, the market witnessed a WLD liquidation of $1.45 million, as per CoinGlass data. Notably, over the past week, Worldcoin’s multi-signature wallet has distributed 5.3 million WLD tokens worth $12 million to five market makers, including Wintermute, GSR, Flow Traders, Auros Global, and Amber. This indicates the effort of Worldcoin to provide liquidity to the market. Since April 29, 2024, the WLD tokens have been gradually distributed from the Worldcoin Foundation’s cold wallet. Over the last six months, a total of 44.9 million WLD tokens valued at $103.27 million were transferred. Will the Bearish Downturn End Soon? At press time, while evaluating the four-hour technical chart of WLD, the market sentiment is approaching the neutral zone, as the daily relative strength index (RSI) is at 45. Moreover, the asset’s daily frame shows the short-term 9-day moving average below the long-term 21-day moving average. WLD chart (Source: TradingView) In addition, the Moving Average Convergence Divergence (MACD) indicator of WLD falls below the signal line, suggesting the current bearish pressure and the incoming bear run. Analyzing the price structure, Worldcoin’s price might bounce back to $2.24; the bearish pressure will likely trigger WLD to slip further to the $2.20 range. On the other side, if WLD climbs up, overpowering the bears, the asset could test its resistance at $2.30. Worldcoin could hit a high of $2.35 if the upside momentum persists. Highlighted Crypto News Sky Branding Dilemma Deepens Amid Founder’s Transactions

Data shows the Ethereum Estimated Leverage Ratio has shot up to extreme levels recently. Here’s what this could imply for the asset’s price. Ethereum Leverage Ratio Appears To Have Been Rising Recently As pointed out by an analyst in a CryptoQuant Quicktake post, the ETH Estimated Leverage Ratio has continued its uptrend recently. The “Estimated Leverage Ratio” here refers to an indicator that keeps track of the ratio between the Ethereum Open Interest and Derivatives Exchange Reserve. The Open Interest is a measure of the total amount of derivatives positions related to ETH that are currently open on all exchanges, while the Derivatives Exchange Reserve keeps track of the amount of ETH sitting in the wallets of all derivatives platforms. When the value of the Estimated Leverage Ratio rises, it means positions on exchanges are growing at a faster rate than the collateral inflows. Such a trend suggests the investors are opting for a higher amount of leverage on average. On the other hand, the indicator going down implies the appetite for risk is decreasing among the derivatives market users, as they are taking on a lower amount of leverage. Now, here is a chart that shows the trend in the Ethereum Estimated Leverage Ratio over the past year or so: As displayed in the above graph, the Ethereum Estimated Leverage Ratio had reached high levels earlier in the year, but its value had seen a plunge as the asset’s price had gone through its crash in late July/early August. Over the last couple of months, however, the indicator has seen a resurgence, with its value now completely recovering back to the same highs as before. This suggests that the investors have been opening leveraged positions on the market. Historically, an overleveraged market has generally resulted in volatility for the ETH price. This is because of the fact that a mass liquidation event, popularly called a squeeze, is probable to occur whenever the derivatives users are taking on high risk. Earlier in the year, the increase in the Ethereum Estimated Leverage Ratio had come alongside a surge in the price, which implies the leveraged positions cropping up had been long ones. Usually, a squeeze is more likely to affect the side of the market that’s more dominant, which may be why the overleveraged market from back then had culminated into a long squeeze. The recent increase in the metric has come while Ethereum has been displaying an overall bearish trajectory, so the new leveraged positions may be short ones. If this is indeed the case, then the coin could end up witnessing a short squeeze alongside a rally. ETH Price Ethereum had seen a break above $2,700 earlier, but the coin appears to have seen a pullback as it’s now trading around $2,600.

Sky’s rebrand faces backlash; community prefers MakerDAO’s established identity. Founder Rune Christensen’s transactions raise concerns about Sky’s direction. Sky, formerly known as MakerDAO, is currently navigating significant changes and community feedback following its rebrand. Founded by Rune Christensen, Sky is grappling with user concerns regarding its new identity and governance structure. The protocol, previously famous for creating the decentralized stablecoin Dai, has introduced a new stablecoin, USDS, which has already surpassed a supply of 1 billion just two weeks after launch. This growth has brought an influx of $700 million into both USDS and Dai. Sky’s USDS has seen strong integration across leading DeFi platforms such as Aave, Ethena, and Morpho, while the Sky.money website has attracted over 400,000 visitors within a month. Despite these achievements, Christensen acknowledged negative feedback from the community about the rebrand, with many users preferring the older MakerDAO identity and MKR governance token. To address this, Christensen proposed three potential paths: keeping the Sky brand, reverting to MakerDAO, or adopting a hybrid approach. It retains the Maker name while aligning it with Sky’s new products. Meanwhile, Rune Christensen’s recent transactions have added complexity to the situation. He sold 2.04 million ENA tokens for 744,000 USDC after claiming them from Ethena Labs. And redeemed 22.08 million USDe back into USDT, raising questions about his stance on Sky’s tokens. These actions, coupled with his previous status as a top USDe holder, have fueled speculation about potential shifts in strategy. Formal Voting To Be Done A community meeting is scheduled for October 25, where the “Atlas Edit” proposal will be discussed. This will be followed by further community input and a formal vote on November 4 to decide on the future of Sky’s branding. Notably, Ethena, known for the USDe stablecoin, has experienced significant growth, breaking key patterns on the charts, and attracting smart traders, making its future particularly promising. Highlighted News Of The Day WazirX Founder Nischal Slams CoinSwitch Allegations as Baseless

Vitalik Buterin expressed his concerns over Micheal Saylor’s comment on Bitcoin custody. Saylor suggested Bitcoin holders rely on financial custody firms over hardware wallets. The crypto community has witnessed some intriguing debates over the past day igniting the discussion panels. Recently hacked WazirX founder Nischal Shetty retorted to CoinSwitch CEO’s allegations on fund movements sparking much debate among degens. However, Michael Saylor caught the spotlight by suggesting handing Bitcoin custody to ‘big banks’. MicroStrategy Founder, Micheal Saylor has received much criticism from the crypto market for his comment on crypto regulations. Michael Saylor, in a recent interview, discussed that Bitcoin owners had ‘nothing to lose’ when converting their assets to institutions. This would mean that Bitcoin owners would no longer have self-custody for which Michael Saylor stated that it was unnecessary fear. Ethereum co-founder Vitalik Buterin expressed his concerns on X against Saylor’s comment, referring to them as not sane. The tech genius further stated that there were several ways in which Saylor’s strategy could fail and that crypto doesn’t refer to such regulated assets for him. Vitalik Buterin stated in the X post: Further, the Executive Chairman was questioned about the US government’s stripping Bitcoin holders of self-custody rights. He responded that it was a myth and trope that had been going on for a long time. The interview has led to amplified outrage among Bitcoiners. This comment also contradicts Micheal Saylor’s earlier views on self-custody. What Regulatory Strategy Did Micheal Saylor Propose For Bitcoin? Micheal Saylor referred to digital asset management institutions such as Fidelity and BlackRock stating them as examples for regulating public entities. He went on to say that when regulating them was possible Bitcoin bank custody would not cause harm. Additionally, Saylor suggested that crypto holders must rely on ‘big banks’ that are engineered to be custodians of financial assets rather than depending on hardware wallets. Several leading community members similar to Buterin have expressed their outrage at Saylor’s comments. Meanwhile, the Ethereum community hit a new milestone as the ETH supply surge hit a 6-month high in the last 24 hours. Highlighted Crypto News Today: Can Shiba Inu Bulls Ignite a Rally Soon?

It has been a remarkable past few days as Bitcoin (BTC) shot up, raising investors’ hopes. As prices begin to explode and top altcoins like Ripple (XRP) and Toncoin (TON) trade on the upside, DTX Exchange (DTX) steals the spotlight with a remarkable performance. The emerging cryptocurrency soared past $5.3 million in early funding, highlighting growing confidence and suggesting an explosive launch. Behind this massive show of interest are its novelty as a hybrid trading platform combining CEX and DEX’s best features and staggering upside potential. DTX Exchange (DTX): The Best Crypto to Invest in? DTX Exchange (DTX), a hybrid exchange-based token, is quickly becoming a fan favorite. It widened the gap with most new ICOs after crossing the $5.3M fundraising goal, cementing its status as this quarter’s best presale. The ICO has been selling out fast in the fourth round, undervalued at $0.08. This low entry is one of its many attractions, along with its massive growth prospects. Teeming with potential as a novel trading platform that combines the best elements of CEX and DEX, analysts project a jaw-dropping 100x growth after its launch. Also driving interest is its anticipated transformation of the $3.2 billion global trading market. Unlike conventional exchange protocols, users will enjoy benefits like wallet-based trading, non-custodial storage solutions, distributed liquidity pools and diverse asset classes. It aims to bridge the gap between DeFi and TradFi and given its impending adoption and growth, it has been hailed as the next Ripple (XRP) and Toncoin (TON). Ripple (XRP): Over 2% Uptick The altcoin market gains significant traction and Ripple (XRP) isn’t left out of the party. The cryptocurrency at the heart of the protocol that facilitates cross-border transactions and payments trades on the upside, shrugging off pressure from the recent SEC appeal. Despite rising selling pressure as the US SEC appeals judge Analisa’s $125 million final judgment, it trades on the upside. In the past 7 days, the XRP price increased over 2%, changing hands above $0.54. While it trades downward on the monthly charts—a 6% downswing and a fall from $0.65—a reversal is on the cards. The latest XRP price prediction gaining grounds suggests a weekly close above $0.6. At the current price, Ripple (XRP) is among the best cryptos to invest in, especially with its projected rally above $1 before the year’s end. Toncoin (TON): Eyes $6.0 Next Toncoin (TON), one of the leading players on the altcoin list, charts a bullish course. The Telegram-based cryptocurrency has been one of this year’s biggest highlights, soaring from a little above $2.0 to an all-time high. After several price discoveries this year, the latest Toncoin (TON) all-time high was on June 15. It soared past $8.2 and in its trails were green candles. However, since registering a peak price, there has been a 35% downswing, linked to profit-taking and the arrest of Telegram CEO Pavel Durov. But according to a Toncoin price prediction, its outlook is bullish. On the weekly charts, the Toncoin price is up over 3%, retailing at $5.3. It is on track for a jump above $6.0 in the coming days, placing it on the list of altcoins to watch out for. Moreover, the community believes a rally above $10 is “imminent” before the year’s end. Conclusion Despite the uptick in the prices of Ripple (XRP) and Toncoin (TON), DTX Exchange (DTX) is in the spotlight. It crossed $5.3 million in early funding, inching closer to its highly anticipated debut. As it prepares to reshape the global trading scene, it is a new DeFi project to keep on the radar. Learn more: Buy Presale Visit DTX Website Join The DTX Community Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this press release.

XRP, the sixth largest cryptocurrency by market capitalization, has seen an interesting trend in its transaction activity, despite a few notable declines in other metrics. A recent analysis by a CryptoQuant analyst, Wenry, sheds light on key trends within the XRP ecosystem, offering insights into the activity happening behind the scenes. The analyst particularly revealed where XRP transactions are used by category activity. XRP Transactions: Decline in NFT Activity And Rise in DEX Volume According to Wenry, XRP’s daily transaction volume has been “competitive with major Layer 1 networks,” showing that XRP’s Ledger remains highly active, even though it is less known to retail investors than other blockchain networks. In his analysis posted on the CryptoQuant QuickTake platform, Wenry highlighted that between September 15 and October 15, 2023, the creation of new wallets on the XRP Ledger increased by 10.39%, reaching a total of 18,321 new accounts. However, total transactions on the network fell by 17.57% to 18.82 million, and payments dropped by 26.16% to 6.81 million. Despite these declines, the number of active wallets on XRPL increased by 14.19%, indicating sustained user engagement with the platform. These numbers suggest that while fewer transactions are being processed, the active user base continues to grow. Wenry’s analysis explored on-chain activity related to token trading and decentralized exchange (DEX) volume. While total trades on the XRP Ledger dropped by 6.83%, decentralized exchange volume increased by 17.64%, from $3.91 million to $4.60 million. This shift suggests that despite a slight decrease in overall trading, more activity occurred on decentralized platforms, demonstrating continued interest in decentralized finance (DeFi) solutions on the XRP Ledger. Regarding non-fungible tokens (NFTs), the analysis showed a significant decline in NFT-related activities on the XRPL. NFTokenMint, which tracks new NFTs created on the network, dropped by 70.66%, from 65,021 to 19,076. Similarly, NFTokenAcceptOffer, which represents the acceptance of offers to buy NFTs, fell by 30.88%. Despite these declines, NFTokenCancelOffer, a metric that tracks canceled NFT transactions, slightly increased by 0.20%, indicating that while fewer NFTs were being minted or traded, some stability remained in the broader NFT ecosystem. AMM Liquidity and Increased Participation A key highlight of the analysis was the strong growth in Automated Market Maker (AMM) liquidity on the XRP Ledger. AMM-related metrics saw considerable increases, with AMMDeposit rising by 62.35%, AMMCreate increasing by 143.10%, and AMMWithdraw climbing by 42.97%. These increases reflect rising confidence in the liquidity pools on the XRPL, as more participants provide liquidity and create new pools. The surge in AMMCreate, which jumped from 58 to 141, suggests that more users are participating in liquidity provision on the network. However, one area of decline in AMM-related activity was the AMMBid, which dropped by 81.82%. Despite this decrease, the overall rise in liquidity deposits and the creation of new pools indicate that the XRP Ledger’s decentralized liquidity offerings remain strong. According to Wenry, these metrics highlight the growing trust in existing liquidity pools and the broader AMM ecosystem on the XRP Ledger. Featured image created with DALL-E, Chart from TradingView

After four months of declining transaction volumes from retail investors, Bitcoin (BTC) retail on-chain activity shows signs of resurgence. Will Bitcoin Benefit From Rising Retail Participation? According to a recent analysis by on-chain analytics platform CryptoQuant, BTC transactions worth less than $10,000 are rising, reflecting a shift in the market’s sentiment from risk-averse to risk-on. Tracking transactions under $10,000 helps gauge retail activity. Unlike institutional transactions driven by fundamentals and long-term outlooks, market sentiment and news often influence retail activity. Per the analysis, Bitcoin’s retail demand struggled to rebound after the cryptocurrency’s all-time high (ATH) in March 2024. However, retail demand has surged 13% in the past 30 days with room for further growth. During this same period, BTC gained approximately 7%, rising from $63,142 on September 22 to $67,346 by October 22. Both rising retail on-chain activity and price suggest a potential upside for BTC in Q4 2024. The swift recovery of BTC and other cryptocurrencies following Iran’s offensive against Israel earlier this month also signals a return to risk-on behavior in the digital asset market. It is worth noting that although retail on-chain activity diminished over the last four months, institutional investors continued to maintain “a high amount of transactions and absorption of coins.” The analysis reads in part: Is A Q4 2024 Rally On The Horizon? The return of Bitcoin retail on-chain activity is an encouraging sign that suggests renewed interest among retail investors toward the leading digital asset. However, with the looming US presidential elections, there could be more volatility ahead for BTC price. According to several crypto analysts and trading firms, the likelihood of a crypto Q4 2024 rally hinges on the results of the US presidential elections. Bitwise CIO Matt Hougan recently remarked that “anything other than a Democratic sweep” would benefit BTC propel to $80,000 in Q4 2024. Bitcoin dominance, a metric that measures BTC’s share of the overall crypto market, recently hit 58.9%, a new cycle-high. While this is promising for BTC’s future price, a further surge in dominance could harm altcoins’ performance. As a result, Q4 2024 may bring a new ATH for BTC but muted returns for altcoins. It is also worth considering that the renewed retail demand for digital assets might be geography-specific, and not uniform worldwide. For instance, in South Korea, BTC is trading at slightly lower prices than global prices due to a negative ‘kimchi premium,’ hinting low domestic investor sentiment toward digital assets. BTC trades at $67,346 at press time, down 1.4% in the past 24 hours.

As the US presidential election approaches, the crypto community is buzzing with speculation regarding how the outcome will affect the Bitcoin price. With just 15 days until the election between former President Donald Trump and Vice President Kamala Harris, options traders are increasingly optimistic about a new all-time high for Bitcoin, regardless of who wins the presidency. Traders Favor Call Options Ahead Of US Election According to a recent report from Bloomberg, options traders are placing significant bets that Bitcoin will reach a record high of $80,000 by the end of November. Notably, implied volatility for Bitcoin options, particularly those expiring around the election day, remains elevated. More traders are favoring call options, which give the buyer the right to buy BTC at new highs. David Lawant, head of research at crypto prime broker FalconX, commented, “I believe the market consensus is that Bitcoin is likely to perform well regardless of the election outcome.” His analysis indicates that options activity surrounding the upcoming elections shows a distinct bias toward upside potential. The political landscape features contrasting views regarding the nascent cryptocurrency landscape. Trump, who has been a vocal advocate for digital assets over the past months, is viewed by many as a pro-crypto candidate, leading to the characterization of Bitcoin as a “Trump trade.” On the other hand, Harris has pledged to support a regulatory framework for cryptocurrencies, a shift from the more stringent oversight seen during the Biden administration, characterized by continuous enforcement actions and lawsuits against key players of the sector. Per the report, in addition to political factors, traders are also considering non-political influences such as potential rate cuts by the Federal Reserve (Fed) and ongoing inflation concerns, which contribute to a generally optimistic sentiment. Data Reveals Strong Demand For $80,000 Bitcoin Calls Data from Deribit, a crypto options exchange, reveals a declining put-to-call ratio, indicating that more traders are buying call options than puts as the year draws to a close. Yev Feldman, co-founder of SwapGlobal, elaborated on the current trading patterns seen among investors, stating: “We are seeing traders buying calls near $68,000 and puts near $66,000, suggesting that many are positioning for a breakout in either direction.” Feldman further added that there’s limited reason to expect a downward collapse post-election, making upward movement seem more plausible for the leading crypto of the market. Open interest data also shows that call contracts set to expire on November 29 are heavily concentrated around the $80,000 mark, with the second most popular strike price at $70,000. For contracts expiring on December 27, interest is clustered around $100,000 and $80,000, while the most sought-after strike price for calls expiring on November 8 is $75,000. Interestingly, call options are commanding higher premiums than their put counterparts, according to the skew term structure, which reflects pricing dynamics between these options. “This indicates that investors are leveraging the options market more as a tool for capturing potential upside rather than as a hedge against downside risks,” Lawant explained. The researcher also pointed out that opinions on non-Bitcoin cryptocurrencies remain divided, with less consensus on how these assets might perform under varying electoral scenarios. At the time of writing, BTC was trading at $67,370. Featured image from DALL-E, chart from TradingView.com

Solana struggled to clear the $172 resistance zone. SOL price is correcting gains and might soon test the $162 support zone. SOL price is correcting gains from the $172 resistance zone against the US Dollar. The price is now trading above $162 and the 100-hourly simple moving average. There was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair (data source from Kraken). The pair could revisit the $162 support zone before the bulls take a stand. Solana Price Eyes Retest of Support Solana price climbed above the $150 and $155 levels. SOL gained pace after there was a close above the $162 resistance level. However, the bears were active near the $172 zone. The price started a downside correction from the $171 high like Bitcoin and Ethereum. There was a move below the $168 level. The price declined below the 50% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high. Besides, there was a break below a connecting bullish trend line with support at $166 on the hourly chart of the SOL/USD pair. Solana is now trading above $162 and the 100-hourly simple moving average. On the upside, the price is facing resistance near the $168 level. The next major resistance is near the $170 level. The main resistance could be $172. A successful close above the $170 and $172 resistance levels could set the pace for another steady increase. The next key resistance is $180. Any more gains might send the price toward the $188 level. More Losses in SOL? If SOL fails to rise above the $170 resistance, it could start another decline. Initial support on the downside is near the $164 level or the 76.4% Fib retracement level of the upward move from the $161.23 swing low to the $171.00 high. The first major support is near the $162 level. A break below the $162 level might send the price toward the $155 zone. If there is a close below the $155 support, the price could decline toward the $150 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $164 and $162. Major Resistance Levels – $168 and $172.

Uniswap, the leading decentralized exchange (DEX) on Ethereum, is building and growing, looking at the number of processed volumes over the years. Uniswap Processes Over $2 Trillion On Ethereum Since launching in late 2018, on-chain data shows that the DEX has processed over $2 trillion in cumulative volume on the Ethereum mainnet. The steady climb in cumulative volume points to Uniswap’s growth over the years and the team’s dedication to ensuring that the platform functions as originally designed. Unlike centralized exchanges like Binance or Coinbase, Uniswap relies on smart contracts for swapping. All transactions are initiated from a non-custodial wallet such as MetaMask, ensuring the holder retains control of all assets. No transaction is approved unless the wallet owner authorizes it. For the unique value proposition Uniswap presents, the platform continues to grow by leaps and bounds. The latest data from DeFiLlama reveals that the DEX manages over $4.9 billion worth of assets. At this level, Uniswap is the sixth largest DeFi protocol, cementing the dominance of Ethereum-based dapps. While users can choose from three protocol versions, the latest iteration, v3, is the largest, managing over $3 billion. Uniswap v3 was the first DEX to introduce concentrated liquidity to improve capital efficiency. Besides v3, users can swap on Uniswap across multiple chains, including the BNB Chain and Avalanche. However, DEX trading via Uniswap is popular on Ethereum, where the exchange manages over $3.9 billion. DeFi Dominance, UNI To $12? As DeFi gains traction and more traders opt to swap trustlessly, Uniswap will likely process even more transactions. Most importantly, the DEX may dominate DEX trading on Ethereum layer-2s, looking at trends. DeFiLlama data reveals that the dapp has a total value locked (TVL) of over $277 million. Considering the role of the DEX on Ethereum and the fact that it is among the biggest contributors of gas fees, UNI could benefit in the coming sessions. From the daily chart, UNI is posting impressive higher highs and approaching a key resistance level. After dumping to $4.7 in early August, the token has almost doubled in valuation and is on the cusp of printing fresh Q4 2024 highs. A break above $8.5 could trigger a wave of demand that may see UNI float to $12.

XRP price is moving lower below the $0.5500 level. The bears might gain strength if there is a close below the $0.5200 support zone. XRP price is correcting gains below the $0.5500 zone. The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. There is a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bearish momentum if it declines below the $0.5200 support zone. XRP Price Dips Further XRP price struggled to extend gains above the $0.5600 level and started a downside correction, like Bitcoin and Ethereum. There was a move below the $0.5550 and $0.5500 levels. The price even dipped below $0.5320 and tested $0.5290. A low was at $0.5292 and the price is now consolidating losses and trading below the 23.6% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low. The price is now trading below $0.5450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5365 level. There is also a new connecting bearish trend line forming with resistance at $0.5365 on the hourly chart of the XRP/USD pair. The first major resistance is near the $0.5440 level. It is close to the 50% Fib retracement level of the downward move from the $0.5600 swing high to the $0.5292 low. The next key resistance could be $0.5520. A clear move above the $0.5520 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5600 resistance or even $0.5650 in the near term. The next major hurdle might be $0.5800. More Losses? If XRP fails to clear the $0.5365 resistance zone, it could start another decline. Initial support on the downside is near the $0.5280 level. The next major support is near the $0.5220 level. If there is a downside break and a close below the $0.5220 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $0.5280 and $0.5220. Major Resistance Levels – $0.5365 and $0.5520.