XRP price almost surged to its three-month high following a strong uptrend continuation on Aug. 14. Nevertheless, its wild weekly run-up triggered overvaluation risks, thus raising possibilities of an imminent price pullback. In detail, the XRP/USD exchange popped 11.78% higher to reach $1.20 for the first time since May 22. The pair's gains appeared as a part of a prevailing bullish trend that started July 20 when it was trading for as low as $0.154 — a 134% upside retracement on the whole. On a week-to-date timeframe, the XRP/USD rates were up circa 54%. XRP overbought The latest bullish moves …

A Bitcoin (BTC) on-chain indicator that spotted dead cat bounces during the yesteryear bearish market corrections has flashed again in August 2021. Dubbed "Bitcoin: Short Term Holder NUPL," the indicator takes into account the unspent transaction output, or UTXO, of BTC transactions not more than 155 days old. In doing so, it attempts to determine whether an investor is profitable within 155 days of purchasing and holding Bitcoin. Therefore, if the NUPL, which stands for "net unrealized profit/loss," returns a reading below zero, it means investors are making a loss on their Bitcoin investments. Conversely, a NUPL above zero shows …

Coinbase stock rebounded during the early U.S. trading hours on Aug.11 after it beat Wall Street forecasts for sales and revenues in the second quarter. The cost to purchase one COIN share surged 4.7% to $282.34 at the New York opening bell. Later, bids for COIN rose to as high as $294 before pulling back to the current price at $279.72. Strong Q2 earnings for Coinbase Coinbase reported better-than-expected earnings in the second quarter of 2021and a net revenue of $2.3 billion. That came out to be 27% higher than the previous quarter and 1,042% up on a year-over-year basis. …

Ripple's XRP token could hit $1 in the coming days, according to a classic technical chart setup. Dubbed a "double bottom," the trend reversal indicator appears after the price bottoms out at a level, rebounds toward a higher resistance level, and then pulls back to or near the first bottom level — only to rebound again to the previous resistance line (also called the "neckline"). Should the price close above the neckline, an extended move upward is anticipated, the length of which equals the total height between the neckline and the bottom level. It appears that XRP is closer to …

Bitcoin (BTC) and the crypto market have been accelerating heavily in recent weeks, as Bitcoin has surged by 60% from the July lows, while Ether (ETH) has been showing strength with a 90% rally as altcoins have been seeing massive gains across the board. The general sentiment has flipped heavily as well. Three weeks ago, the majority of the people were discussing a potential breakdown to $20,000, including the effects of a death cross. But now, a golden cross could happen for Bitcoin, with a potential breakout above $48,000 certainly on the table. Key resistance at $48K The daily chart …

Institutions have not left the Bitcoin (BTC) market even in the face of a 50%-plus bearish correction earlier this year, shows data provided by Glassnode. The blockchain analytics platform reported on Monday that the dominance of Bitcoin transactions exceeding $1 million has surged twofold since September 2020 — from 30% to 70% of the total value transferred. Since retail investors do not typically engage in large-volume transactions, Glassnode guesses that the institutional investors might have been behind the spike in the $1 million–$10 million transaction group. Moreover, the platform noted that the Bitcoin network processed the said bulky transactions as …

Ether (ETH) has outperformed Bitcoin (BTC) in terms of year-to-date market performance, rising more than 320% against BTC's 54% returns. But according to Bloomberg Intelligence senior commodity strategist Mike McGlone, Bitcoin could soon catch up to Ether's gains, which might even push its per-unit price to $100,000. "If Bitcoin were to catch up to Ethereum's performance this year, the No. 1 crypto's price would approach $100,000," the analyst tweeted on Aug. 9 as BTC price broke above $46,000. While McGlone did not dwell on the factors that would have Bitcoin match Ether's yearly gains, his earlier report on cryptocurrencies cited …

The scale of Bitcoin’s (BTC) ongoing downside correction might not be as alarming as it was in 2018, indicates data shared by Glassnode. The blockchain analytics firm reported that investors who have held Bitcoin for more than one year showed a lesser interest in liquidating their investments versus those who held the digital asset for three to six months. Its dataset covered the period of Bitcoin’s correction from around $65,000 on April 14 to around $44,000 on Monday. On the other hand, all investor cohorts were instrumental in crashing the BTC price in 2018 from $19,891 to $3,128. With a …

Bitcoin (BTC) reached its highest level in more than two months, with just a few days remaining before the July inflation report. The top cryptocurrency climbed 1.65% to $45,363 on Sunday, continuing the upside momentum that had already seen it jump 21.62% from its low of $37,300 on Thursday. Momentum was strong among Bitcoin rivals as well. Ether (ETH), the second-largest crypto by market capitalization, increased 29.78% from its low of $2,630 on Tuesday, crossing $3,100 on Sunday. Its gains came after Ethereum’s London hard fork went live on Thursday, which should add deflationary pressure to the supply of ETH. …

Bitcoin’s (BTC) price reached as high as $44,600 on Saturday, the highest level since before the infamous May 19 crash. Meanwhile, there are increasing speculations that BTC could undergo a similar upside boom like the one that began in October 2020. At least two indicators expect Bitcoin to pursue massive uptrends. The first one is Glassnode’s entry-adjusted Net Unrealized Profit/Loss (NUPL), assists investors in determining whether the Bitcoin network as a whole is currently in a state of profit or loss. Understanding NUPL and its heat map An NUPL reading above zero indicates that the network is in a state …

On-chain analyst Willy Woo asserted that Bitcoin (BTC) would break above the $42,000-resistance level in its coming attempts. The researcher based his bullish analogy on the so-called Rick Astley indicator, a heat-map that tracks investors—the Rick Astleys of this world—that buy Bitcoin to hold the asset for longer timeframes. The indicator earlier predicted Bitcoin price spikes based on investors' buying activity below certain technical resistance levels. However, Woo noted that the "strong-handed long term investors are absorbing" the Bitcoin supply below $42,000, which raises the cryptocurrency's prospects of closing above the level. "Strong HODLers have been taking this opportunity to …

A crossover between two Bitcoin (BTC) moving averages that appeared before the 2020 price boom is hinting at making a return in 2021, just as the flagship cryptocurrency eyes a bullish breakout from its current $30,000–$40,000 trading range. The indicators in focus are the MACD Line and Signal Line. MACD is an acronym for Moving Average Convergence Divergence, and a MACD Line represents the difference between the 12- and 26-period moving averages. Meanwhile, a Signal Line is a nine-period moving average. Plotting the MACD Line and Signal Line together forms the so-called MACD Indicator, which allows traders to predict future …