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U.Today Crypto News Digest
Valeria Blokhina
Check out what U.Today has prepared for you in its latest cryptocurrency news roundup!
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Here are the top three stories from the last few days as presented by U.Today.
XRP on the Verge of a Crazy Price Surge – If John Bollinger Bands Are Accurate
Second a recent analysis of the XRP price chart, the Ripple-affiliated token may be poised for a significant increase in value. Bollinger Bands, a technical indicator created by renowned trader John Bollinger, are currently experiencing a significant narrowing, which indicates a period of low volatility, which often precedes major price movements. A similar narrowing occurred in 2017; back then, XRP price jumped by a whopping 55,000%, peaking at $3.30 per token in early 2018. Another narrowing event occurred in late 2020; after which, XRP reached nearly $2 per token by April 2021. Therefore, the ongoing narrowing of Bollinger Bands, which began in November 2022, supports the possibility of a potential increase in XRP value in the near future.
Important Shiba Inu Update Previewed by a SHIB Team Member: Details
In a recent post XLucie, Shiba Inu Marketing Manager, shared some details about the main product that the SHIB development team is planning to launch soon on Shibarium. Lucie wrote that the Shib ecosystem is becoming a hub for innovation “driven by blockchain technology and a dedicated community.” At the heart of this hub will be the SHIB Marketplace, which Lucie defined as “a decentralized platform intended to democratize power among its users rather than centralized corporations.” The SHIB representative then went on to list the key features and core components of the new SHIB product, such as financial autonomy (the marketplace will use smart contracts to cut out any middlemen), active participation (users will actively shape the marketplace, making them participants rather than consumers), and more. However, Lucie did not provide any dates for the launch of the SHIB Marketplace.
Ultra-Bullish Cardano Price Pattern No One Is Talking About
Cardano has recently turned heads among market observers, as format an interesting pattern on its price chart. Currently, ADA has reached a crucial price level, $0.35, which has consistently served as a key support or resistance point. This support level proved its strength once again last week, when ADA price held steady at $0.35 after a 12% drop. After stabilizing, the weekly candle closed above this level, which triggered an astonishing 15.3% increase in ADA price over the next four days. Notably, this price increase occurred on relatively low trading volumes. This pattern suggests a potential ultra-bullish trend for Cardano that has largely gone unnoticed. As ADA maintains its stability at this critical support level and begins to rise, investors may become more interested in this token.
About the author
Valeria Blokhina
Valeria is the community manager of U.Today. She is a cryptocurrency enthusiast and believes that cryptocurrencies are the future of finance. Valeria currently covers the latest news in the world of cryptocurrencies and blockchain.