Ripple (XRP) opened in May with a decent price rebound after falling 28% in April, its worst monthly performance since June 2021. Furthermore, the XRP/USD pair shows prospects of continuing its recovery trend in the coming weeks. Support confluence raises XRP bullish prospects XRP's price rose by nearly 6.25% in the first two days of May, going as high as $0.63 (data from Binance). The buying sentiment surged around $0.58, a level that acted as strong support in January 2022 and enabled XRP to rise by more than 50% thereafter. Interestingly, the $0.58-support coincides with XRP's 200-week exponential moving average …

ApeCoin (APE) caught its bulls off-guard with APE price losing nearly 40% in just three days. No dutch auction APE’s price reached its second-highest level, hitting $27.57 on April 28, up more than 2,650% from its mid-March debut. Nonetheless, traders started unwinding their positions after Yuga Labs, the Bored Ape Yacht Club (BAYC) nonfungible token (NFT) collection’s creator, released the details of the mint of its Otherside Metaverse lands, dubbed “Otherdeed.” Yuga Labs revealed that the NFT mint would cost a flat 305 APE, or $5,250 at the time of writing, in contrast to expectations that the company would sell …

Bitcoin (BTC) prices could drop by 20% in the next few months, but that has not deterred its richest investors from stacking. The amount of Bitcoin held by "unique entities" with a balance of at least 1,000 BTC, or so-called "whales," has increased to its best levels since September 2021, data on Glassnode shows. Interestingly, the number in the past week grew despite Bitcoin's price decline from $43,000 to around $38,000. Marcus Sotiriou, an analyst at GlobalBlock, a U.K.-based digital asset broker, considered the latest spike in Bitcoin whale holdings as a bullish indicator, recalling a similar move in September …

At least three market catalysts show that Dogecoin (DOGE) could climb by at least 50% by the end of Q3 2022. Falling wedge breakout in play Dogecoin has been painting a “falling wedge” pattern on its longer-timeframe charts since May 2021, hinting at the potential for a bullish reversal in the coming months. Falling wedges appear when the price trends lower inside a range defined by two descending, converging trendlines. Their occurrence coincides with declining trade volumes, suggesting that trading activity slowed down due to the narrowing price range. A break of the wedge to the upside, coupled with a …

ApeCoin (APE) underwent a modest selloff a day after the Bored Ape Yacht Club (BAYC), a popular nonfungible token (NFT) brand, reported losing $2.4 million worth of digital collectibles in a robbery. APE price rally to $25 stalls The hacker compromised BAYC's official Instagram account, using it to post a phishing link that withdrew tokens out of users' cryptocurrency wallets. On April 25, the BAYC Twitter handle confirmed the hack, albeit too late as users had already transferred tokens to the hacker's account, thus losing ownership of their extremely expensive Bored Ape, Mutant Ape and Bored Ape Kennel Project NFTs. …

Ripple (XRP) continued its correction trend on April 25, falling by 5.5% to reach $0.64, its lowest level since Feb. 28. More XRP price downside ahead? The plunge increased the possibility of triggering a bearish reversal setup called descending triangle. While these patterns form usually during a downtrend, their occurrences following strong bullish moves usually mark the end of the uptrend. XRP has been in a similar trading channel since April 2022, bounded by two trendlines: a lower horizontal and an upper downward sloping. The pattern now nears its resolve as XRP pulls back toward the support trendline that's also …

Monero (XMR) price dropped by nearly 10% three days after establishing a week-to-date high of around $290 on April 24. Nonetheless, several technical indicators suggest that the XMR/USD pair is poised to resume its uptrend over the next few months. Falling wedge breakout underway Notably, XMR’s price broke out of its “falling wedge” structure in late March. It continued its move upside in the later daily sessions, with rising volumes indicating bullish sentiment among Monero traders. Traditional analysts consider falling wedges as bullish reversal patterns, or the price first consolidates within a contracting descending channel, followed by a strong bounce …

STEPN (GMT) has rallied strongly against the United States dollar this week as it looks likely to form a classical bullish technical pattern called “the bull flag.” GMT eyes more upside GMT’s price rose 30% week-to-date, including a strong rally to establish an all-time high near $3.85 followed by a relatively modest correction to nearly $3.00. In particular, the correction phase occurred inside a descending parallel channel, raising possibilities that the price would eventually break out of it to the upside. That is precisely because traditional analysts consider strong run-ups, followed by range-trapped price corrections, as bullish continuation setups. And, …

A sharp rebound move witnessed in the Aave (AAVE) market in the last three days has raised its potential to rise further in May, a technical indicator suggests. AAVE price rebounds from key support Dubbed a "rising wedge," the pattern appears when the price rises inside a range defined by two ascending, contracting trendlines. It typically resolves after the price breaks below the lower trendline with convincingly rising volumes. AAVE has been painting a similar ascending channel since early February 2022. The AAVE/USD pair has bounced in the past few days after testing the wedge's lower trendline as support. This …

STEPN (GMT), a so-called "move-to-earn" token using the Solana (SOL) blockchain, has soared incredibly since its market debut in March. GMT's price jumped from $0.01 on March 9 to a record high of $3.45 on April 19 — a 34,000% upside move in just 41 days (data from Binance). Its massive uptrend appeared primarily due to the hype surrounding decentralized finance (DeFi) projects that reward users in tokens for staying active. For instance, the prices of GMT and its top rivals, including Genopets (GENE) and dotmoovs (MOOV), exploded massively on a 24-hour adjusted timeframe, data on CoinGecko shows. Nonetheless, STEPN …

Decred (DCR) prices soared by as much as 45% on April 18 before paring some gains as traders bet on a major hard fork that aims to prevent pump-and-dump schemes by miners. Key Decred network upgrade in three weeks DCR rallied by nearly 45% to over $86 in one day, its highest level in four months. Moreover, the massive upside move accompanied a similarly huge spike in its trading volumes, confirming that most traders backed the intraday bullish momentum. Traders flocked to buying Decred ahead of a key upgrade slated for early May that would reduce the DCR mining reward …

Nonfungible tokens (NFTs) have come a long way in a relatively short period of time. In 2017, the NFT project CryptoKitties made headlines as the largest decentralized application on the Ethereum network. While CryptoKitties accounted for a notable portion of Ethereum transaction volume in 2017, these NFTs mainly served as digital collectibles geared toward the crypto community. It wasn’t until March 2021 when NFT artwork started gaining traction due to the financial potential behind these creations. This was demonstrated when digital artist Mike Winkelmann, also known as Beeple, sold his NFT piece titled “Everydays: The First 5,000 Days,” which raised …