U.Today – Here are the top three news stories from last weekend brought to you by U.Today.
Bollinger Bands Sound Alarm for XRP Over
After a remarkable week in which XRP surged over 24%, fears are emerging that this uptrend is over. The price of the Ripple-affiliated token surged 35% in just six days, reaching an all-time high of $3.40, a level not seen in seven years. For example, XRP gained 12% against Bitcoin and 26% against Bitcoin. At one point, XRP was 30% stronger than Bitcoin, but at a rate of 0.0000342 BTC per 1 XRP, it appears the market has reached a valuation ceiling between the two cryptos. The Bollinger Bands indicator also suggests that XRP may have reached a ceiling in its valuation relative to BTC. In the case of XRP-Bitcoin, XRP has reached the upper band against Bitcoin on a daily and weekly basis. Given this, it seems more likely that XRP will decline against BTC rather than continuing to rise. If the median provides significant support, XRP could see a decline of 10%, or 31% if the decline continues until the lower band is reached.
A quarter of a billion dollars in Bitcoin surprises the main American exchange Coinbase (NASDAQ:)
According to data provided by Whale Alert, on Friday, January 17, 2,501 Bitcoins, worth approximately $256.4 million, were transferred to Coinbase International. The receiving address, “bc1q5y”, was activated just a week ago and had minimal activity until it received a deposit of 2,502 BTC from another unknown address, “bc1qe2n7” . This transaction may suggest that the wallet is controlled by an entity rather than an individual, as it is connected to a Coinbase Prime address and still holds 10,115 BTC, worth $1.05 billion. This large transfer raises concerns about a potential sell-off, as it could indicate that a large holder is considering liquidating their Bitcoin, which could impact market prices. Additionally, the timing of the transaction, just before the weekend, could amplify its effects on trading volumes and price movements. At the time of writing, BTC is trading at $107,736, up 2.37% in the last 24 hours, according to CoinMarketCap.
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