In today’s bullish crypto market, Bitcoin (BTC) broke past the impressive $68,000 mark before experiencing a slight retracement. This surge in value, a robust 50% gain this year, was primarily fueled by significant inflows into U.S.-listed BTC-ETFs. A striking example was the BlackRock’s iShares Bitcoin Trust, which absorbed over half of the $2.17 billion net flows into the top ten spot BTC-ETFs in the week leading up to March 1.
Ethereum (ETH) wasn’t far behind in this rally, inching closer to the $3,700 milestone, largely due to speculation about coming ETFs that could further propel its growth. Despite a postponed decision by the SEC on BlackRock’s application for a spot ETH-ETF, Ethereum still managed to secure over a 50% increase in value this year.
In the midst of these market titans, Ripple (XRP) reached a peak of $0.6685, settling around the $0.64 level after a mild correction. This uptrend in XRP, maintaining its stance above the key psychological threshold of $0.6, was closely tied to the recent Bitcoin rally. What’s more, Ripple’s (XRP) trading volume saw a staggering 108% increase to $4.36 billion, driven by large wallet holders who were actively accumulating XRP since early March, as indicated by on-chain data. While this accumulation continues, retail traders seem to be cashing in on the recent price increase.
Amidst this flurry of activity in the altcoin arena, ScapesMania (MANIA) is also drawing attention. Although its presale stage has concluded, the anticipation surrounding its imminent Token Generation Event and subsequent DEX listing is palpable.
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The ScapesMania public sale wrapped up, becoming the talk of the crypto community. The project managed to secure over $6,125,000 at an unprecedented rate and there’s a strong probability that the token’s value might increase exponentially in the future.
The spotlight has shifted to the upcoming PancakeSwap listing. The date was already announced in a recent AMA with the CEO, so don’t miss out!
The pool of tokens is smaller than it was before, the conditions are better than the market average, so the chance to maximize your potential returns is quickly diminishing. Letting it slip now would be a huge waste, especially since your chance to join is only a click away.
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The team behind ScapesMania, with years of expertise, has crafted a robust post-listing marketing strategy. Buyback, burn, staking, and all the perks for holders keep attracting new adopters while also ensuring a high level of community engagement. Through DAO governance, backers will be able to influence and benefit from a growing industry.
Moreover, the token’s utility is impressive. It’s not another meme coin whose success relies heavily on trends and hype. ScapesMania ($MANIA) is a well-balanced, meticulously designed project that acts as a gaming ecosystem. As a player in the multi-billion casual gaming industry, it leverages the market’s growth potential. Post-debut, holders can anticipate greater liquidity and easier trading. A solid token management plan will further increase longer-term growth potential.
The community’s excitement about the project is evident so far: the follower count has reached 60K+. Also, the growing interest from crypto whales with deposits of $20,000+ might expedite ScapesMania’s transition from niche to mainstream.
ScapesMania’s smart contract has received approval from prominent security-ranking firms, ensuring peace of mind for holders. Additionally, the PancakeSwap listing is on the horizon, with CEX listings still in the works.
ScapesMania is also notable for a great cliff vesting structure to prevent token dumping, making sure that supply and demand are well-matched for potential growth.
Make sure you don’t pass up the opportunity to leverage all discounts and potentially beat the market with the TGE fast approaching. Be quick if you want to be the first one in line for all the post-listing opportunities, which might be quite lucrative.
>>> LISTING ALERT – Keep Up With Latest News <<<
Ripple’s (XRP) Surging Tide: Whale Moves and Profit Waves
Data from Santiment revealed a significant activity among Ripple (XRP) holders, with more than $320 million in gains realized since the start of March. Despite this extensive profit-taking, XRP surged to a new year-to-date high early on March 5, showcasing its resilient market demand.
Interestingly, this rally seems to be primarily driven by large entities, as holders of more than 1 billion XRP tokens have been increasing their holdings since March 1. In contrast, wallet addresses holding between 10 million to 1 billion XRP have been reducing their stakes, likely capitalizing on the recent price gains. This behavior suggests that the rally in Ripple (XRP) price is less attributed to retail trader activity and more to movements by whales.
Analyzing the trading patterns further, there’s notable activity in terms of profit-taking among retail traders and two distinct segments of XRP whales. This is evidenced by the sharp increases in the Network Realized Profit/Loss (NPL) metric for Ripple (XRP), which could potentially be interpreted as a sell signal by market analysts. Expectations surrounding a possible XRP-ETF underpin this trend. Although there’s no official announcement, a cryptic comment from BlackRock CEO Larry Fink has sparked speculations and interest in the Ripple (XRP) community.
Furthermore, the price gains in XRP are being fueled by capital inflows from investors realizing profits in other cryptocurrencies like Bitcoin and the increasing utility of the XRPLedger’s native token. Another critical element on the horizon is the impending legal milestone in the SEC v. Ripple (XRP) case. March 22 marks an important deadline as the SEC is scheduled to file its opening brief, which could significantly impact XRP’s market sentiment.
Ripple (XRP) Technical Analysis
As the market weighs recent news and its potential impacts, Ripple (XRP) is in a phase of consolidation, oscillating between key technical levels, trading between its first support at $0.552 and the first resistance at $0.6772.
Source: TradingView
The 10-day Exponential Moving Average (EMA) is almost identical to the last traded price, suggesting a short-term equilibrium. However, the 50-day and 200-day EMAs are positioned at $0.6099 and $0.5679, respectively, highlighting a longer-term bullish trend as the current price sits above these averages.
The Relative Strength Index (RSI) at 57.55 leans towards neither overbought nor oversold territory, suggesting a somewhat neutral stance in the current market conditions.
The Average Directional Index (ADX) at a low 19.4 indicates a lack of strong trend, reinforcing the consolidation phase. The Commodity Channel Index (CCI) at 29.56 is near the zero line, again reflecting a balance in the market.
The MACD level at 0.013 and Momentum at 0.017 provide minimal cues, aligning with the market’s current wait-and-see approach.
However, the Stochastic %K is at 70.72, which is closer to the overbought threshold, hinting at possible upward momentum but also the risk of a reversal if the market perceives it as too stretched.
Ripple (XRP) Price Prediction
Considering the bullish and bearish scenarios, if bullish sentiment takes hold, we could see XRP break through $0.6772, potentially targeting the next resistance levels at $0.7268 and $0.852. This upward trajectory would likely be supported by increasing buying pressure and a sustained positive momentum.
On the flip side, a bearish turn could see Ripple (XRP) retracting back towards its support levels. Breaking below $0.552 might lead to further dips towards $0.4764 and potentially $0.3512 if negative sentiment is compounded.
Bottomline
In the crypto market brimming with bullish sentiment, Ripple’s (XRP) recent market performance balances technical resilience with growing anticipation. Currently positioned between pivotal support and resistance levels, XRP is moving upward amidst cautious investor optimism. Key indicators like EMA and RSI suggest stability, but it’s the broader market feeling that’s particularly compelling. The buzz around a potential XRP-ETF, coupled with strategic moves by large holders and the coming SEC v. Ripple case, suggests that Ripple (XRP) is at a critical juncture, poised for potential shifts depending on how these factors play out.
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
