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Crypto News Digest by U.Today
Valeria Blokhina
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U.Today has prepared the three main news stories of the last day.
1.75 trillion SHIBs mysteriously took over Robinhood with price on verge of breakout
According to data provided by the Whale Alert tracker, yesterday, 1.75 trillion SHIB tokens they were purchased on Robinhood. The purchase was made by the anonymous whale -4D935, who withdrew this large amount of SHIB meme coins in two transactions, each containing 875,000,000,000 SHIB. The total value of the acquired tokens is valued at $39.2 billion. Meanwhile, Ali Martinez, a popular cryptocurrency trader and analyst, shared On Wednesday on his X handle he noticed SHIB forming a bullish flag on his daily chart. According to Martinez, the SHIB aims to make a major bullish breakout towards the $0.000072323 level; therefore, he decided to place some buy orders around the price of $0.000018343. At the time of writing, SHIB is trading at $0.00002405, up 7.15% over the past 24 hours, according to CoinMarketCap.
Ripple’s 800 Million XRP Escrow Block Failed to Reboot Price, Here’s Why
According to recent data on the chain, Ripple Labs has changed 800 million XRP into an escrow wallet, in an attempt to rebalance the circulating supply of the digital currency. According to Whale Alert, the block was carried out in three tranches: the first carried 500,000,000 XRP, the second contained 100 million XRP, and the third 200 million XRP. In response to the escrow activity, the price of XRP increased slightly, by 4.61% to $0.5126 in 24 hours. However, this huge block of XRP has not yet recovered all of its losses from the previous week. As market sentiment has declined over the past month, XRP has seen a sharp drop in valuation. Even with the most recent surge, XRP is still down from the previous week by 2.04% and from the previous month by more than 14%. Currently, XRP is trading at $0.524, up less than 1% over the past 24 hours.
Peter Schiff Names New Bearish Target for Bitcoin Price
In a recent post on X, renowned gold advocate Peter Schiff named the next downside target for Bitcoin. In his opinion, the target will be the $54,000 level. Schiff also said that Bitcoin has formed a bearish head-and-shoulders pattern, with the “neckline” of the pattern just below $57,000. Earlier this week, the expert declared that Bitcoin is currently facing its do-or-die momentum and if BTC were to fall below the $60,000 level, the asset would be in big trouble. However, recent statements made by Federal Reserve Chair Jerome Powell caused the price of Bitcoin to briefly rise above the $59,000 level. Bitcoin is currently trading at $61,715, up 5.84% in the last 24 hours.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrency is the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.