Altcoins News
By Sakamoto Nashi
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XRP got hammered yesterday. The cryptocurrency fell 41% after smashing through the $1.88 support level that traders had been watching for weeks, confirming what analysts called a…
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The drop caught pretty much everyone off guard, with XRP now trading way below what most considered safe territory.
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The broader crypto market isn't helping XRP's cause either, with wild swings hitting most major tokens over the past week.
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John Bollinger jumped into the conversation on February 5, warning traders about what's coming next.
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But the real action happened on the exchanges.
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Binance saw XRP trading volumes explode on February 4, with the surge coming right as the price started its nosedive.
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CryptoQuant dropped some interesting numbers on February 6, showing massive XRP outflows from exchanges over the past 48 hours.
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Ripple Labs stayed quiet when reporters reached out for comment. The company that created XRP didn't respond to multiple requests about the price crash, leaving investors to…
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Social media went crazy according to Santiment's data. The blockchain analytics firm tracked a huge jump in XRP mentions across Twitter and Reddit over the past week, with most…
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CoinMarketCap's rankings tell the damage story pretty clearly. XRP dropped several spots in the market cap rankings as of February 5, losing its position among the top-tier…
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Mike McGlone from Bloomberg Intelligence tried to find some silver lining on February 6. "While XRP faces serious challenges right now, the broader crypto market has shown…
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Lark Davis, a well-known crypto analyst, called February 5 a make-or-break moment. "The $1 support is absolutely critical for XRP," Davis said.
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Kraken reported something that should worry XRP bulls: short positions jumped on February 6.
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Glassnode's data showed one bright spot - active XRP addresses actually increased despite the price crash.
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