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As XRP Falls Top Trader Says XRP Investors Could be Left Holding the Bags Again

Albert Brown
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As XRP Falls Top Trader Says XRP Investors Could be Left Holding the Bags Again

A prominent trader has challenged XRP investors, asking if they are prepared to be “left holding the bag again” as XRP retraces some of its December gains.

Notably, this bearish stance came from Elon Trades, a market analyst who insists that the latest XRP run is over. His recent commentary comes as XRP has dropped by over 17% over the past three days following its spike to the $2.9 resistance level.

XRP Previous Run

For context, XRP faced minimal opposition when it resumed its uptrend on Nov. 26. The altcoin soared from $1.41 to a peak of $2.90 on Dec. 3 in one fell swoop. This seven-year top was the product of six consecutive intraday gains, which saw XRP increase 105%.

While euphoria grew, some market watchers argued that the run was not sustainable, as a healthy rally would typically face certain roadblocks along the way. Interestingly, Bitcoin maximalists predicted an imminent crash, and certain trades like Elon opened short positions.

The Crypto Basic called attention to this trend in a previous report. For instance, Elon confirmed he had opened a $500,000 short position on XRP when the asset traded at $2.7. Midjet, another trader, confirmed shorting XRP at $2.71, while analyst Gordon opened a $250,000 short position at the same price level.

Short XRP Positions in Profit

In today’s XRP price news, XRP is trading much lower than its price when these trades opened; most of the short positions are now in profit. Elon’s latest update confirmed that he had witnessed a profit of over $83K on his short trade, as XRP dropped to the $2.3 region.

XRP Falling
Image Source: https://x.com/ElonTrades/status/1864478049976090930

Notably, market data shows that the trade was observing a massive 400% gain when XRP dropped to $2.31 earlier today. At press time, XRP’s price has collapsed further, with the bears attempting to breach below the $2.3 support. XRP slumped to $2.16 earlier this morning but has now recovered, currently trading for $2.3031.

Amid the current bearishness, Elon has taunted the XRP community, questioning if they still wish to be left holding the bag as their gains erode away. For context, the market analyst was referencing the previous market cycles, where XRP holders experienced extensive losses.

Following its spike to the all-time high of $3.31 in January 2018, XRP witnessed a massive collapse, dropping to as low as $0.1140 in March 2020. Despite a recovery from this level, XRP failed even to breach $2 during the 2021 bull run, leaving those who bought at the top in 2018 stranded.

Elon believes something similar could occur. However, the prevalent sentiment is bullish. As confirmed by The Crypto Basic today, most analysts believe the ongoing correction is healthy for the market, as it represents the pullback before the second leg up. 

Interestingly, market analyst Dom, who spotlighted some massive sell walls for XRP across major exchanges, previously stressed that a pullback to the lower end of $2 was possible.

However, he argued that this was beneficial for XRP, expecting an imminent rebound. Despite the drop, XRP is still up 17% in December, outperforming Bitcoin, which recently claimed $100,000.

Market Expert Says If You’re Not Long XRP, You Don’t Respect Yourself

Sam Wisdom Raphael
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Market Expert Says If You’re Not Long XRP, You Don’t Respect Yourself

Despite the recent XRP pullback, a notable market expert believes investors who are not bullish on XRP do not respect themselves.

Notably, the commentary comes as XRP faces a major resistance at the $3 psychological threshold. XRP has been on a massive bullish path in the current phase of the ongoing crypto bull market.

It closed November with a remarkable 283% increase, solidifying its position as one of the top-performing assets. Starting December on a positive note, XRP surged from just above $1 to a seven-year high of $2.9 in a matter of days. 

Sentiments Remain Positive Despite Pullback

However, as it approached the $3 mark, a pullback ensued. Interestingly, the prevalent market sentiments suggest this correction has not dampened enthusiasm among market experts. 

A pseudonymous analyst, known as WallStreetBets, recently stressed the importance of being bullish on XRP at this stage. According to him, any investor who is not long on XRP does not particularly respect themselves. 

The analyst reiterated his position in a more recent commentary, as XRP dropped to the low end of the $2 mark. He argued that the current correction was XRP’s way of taking a step back to give investors who missed the initial run a second chance at entering the market.

For context, over the last three days, XRP has dropped nearly 16%, currently trading at $2.3. Despite this correction, market analysts like WallStreetBets remain optimistic, viewing it as a healthy step in a prolonged uptrend.  

For instance, another analyst, CW, sees the current pullback as a precursor to even greater heights. CW expects that once the correction concludes, XRP’s next target could be $3.75. 

Major XRP Resistance 

Meanwhile, market analyst Mikkybull has likened the recent XRP rally to the explosive growth seen in 2017. He predicted a climb to $2, followed by a pullback, and then a continuation toward a cycle peak that might reach $10. 

Also, Dom, a well-known market watcher, noted that XRP’s current behavior follows his earlier predictions of consolidation and range formation. 

He mentioned a possible dip into the low $2 range, supported by substantial buy orders on platforms like Binance and Coinbase. Dom noted that these orders, totaling around 8 million, have helped stabilize the price for now. 

Dom also highlighted a major challenge for XRP against Bitcoin (BTC). He noted that XRP is currently struggling to overcome a resistance level at 0.00003 BTC, which has persisted for over 2,000 days. 

While Dom believes this resistance level will not be easily surpassed, he confirmed the possibility of gradual progress. He also called attention to a 50 million XRP sell walls resistance, previously highlighted by The Crypto Basic, as another roadblock for XRP.

Bitcoin Maxi Says XRP Will be the Mother of All Rugpulls

Sam Wisdom Raphael
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Bitcoin Maxi Says XRP Will be the Mother of All Rugpulls

Some analysts and Bitcoin maximalists believe XRP will eventually collapse sharply, suggesting the crash would mark the ‘mother of all rugpulls.’

XRP, which closed November with a 283% surge and up by another 31% in the first three days of December, has drawn criticism from Bitcoin maximalists. While supporters of XRP attribute the rise to market recovery, detractors suggest the rally is unsustainable.

Bitcoin Advocates Voice Doubts  

Prominent Bitcoin proponents have expressed concerns about XRP’s rapid ascent. A particular maxi known as “BitMan” criticized XRP’s performance, sharing a chart that highlighted its 45,920% all-time gain and recent growth. 

Notably, XRP has failed to record any massive substantial collapse since it began its upsurge in early November. As a result, BitMan warned that XRP’s latest rise could end disastrously, calling it the “mother of all rug pulls.”

Rajat Soni, a Chartered Financial Analyst and vocal Bitcoin maximalist, shared similar concerns. In a post on X, Soni described XRP’s rally as unnatural and suggested it might be a pump-and-dump scheme.

He questioned how XRP managed a 435% rise since November 2 despite increasing only 11% since 2018. Soni argued that such price behavior does not reflect organic market activity, labeling the rally suspicious.  

However, Soni’s remarks met opposition. Market commentator “Kaptain Kirk” argued that XRP’s recent price increase shows a correction after years of suppression by the SEC. According to Kirk, the rally is a return to XRP’s natural price, which had been artificially deflated by the SEC lawsuit.  

XRP Proponents Bullish Amid Upsurge

For context, these remarks from Bitcoin maxis come as XRP gains substantially against Bitcoin. The XRP/BTC pair spiked by 179.14% in November and climbed another 32% in December, reaching its highest level in 18 months at 0.00002704 BTC. 

Notably, this outperformance has triggered more criticism from Bitcoin maximalists, who see XRP as a poorly grounded asset benefiting from speculative trading. While Bitcoin advocates criticize XRP’s rise, others argue that the token’s performance shows its potential. 

Tony Edward, the host of Thinking Crypto, defended XRP, pointing out that it has consistently ranked among the top 10 cryptocurrencies for years. He dismissed claims of a rug pull, highlighting that Bitcoin itself experiences massive sell-offs during market corrections.  

Edward also accused Bitcoin maximalists of cognitive dissonance, suggesting they find it hard to accept when altcoins outperform Bitcoin. Notably, proponents believe that XRP’s rally is fueled by renewed confidence in the token as many expect a pro-crypto Trump administration.

Solana ETF Pushes The Price: SOL’s Path To Future Growth

Mark Brennan
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Solana ETF Pushes The Price: SOL’s Path To Future Growth

The latest announcement of a spot Solana ETF filing by Grayscale Investments has created excitement in the crypto market, especially for Solana (SOL) supporters. This news is a big step for Solana, boosting its price by 3% over the past week. Now priced at $237.14, SOL is showing great potential for growth.

Grayscale’s Spot Solana ETF: A Boost for Solana News

Grayscale Investments has filed for a spot Solana ETF under the ticker GSOL. If approved, this would turn Grayscale’s existing Solana Trust, the largest Solana fund with $134.2 million in assets, into a publicly available product. This change will make it easier for both large and small crypto enthusiasts to access Solana without directly buying it or needing a Solana wallet.

Grayscale Solana SOL Trust
Grayscale Solana SOL Trust

The ETF will be managed by Coinbase Custody as the custodian, while BNY Mellon will handle administration tasks. These trusted names in finance add credibility and security to the ETF. If this approval happens, it could lead to more demand for Solana coin, which may push the Solana price up.

Solana Technical Outlook and Expert’s Forecast

Solana is showing signs of strength with technical indicators pointing toward further growth. Over the last year, SOL has seen an impressive 277% rise in value. Its market cap now stands at over $112 billion. Solana crypto could continue to rise based on recent patterns.

Currently, SOL is priced at $237.14, showing stability in the short term. The 10-day moving average is $236.09, which suggests consistent support at this level. Its 50-day moving average is $202.43, showing an overall upward trend over a longer time. The RSI (Relative Strength Index) is at 56.52, meaning Solana has room to grow without becoming overbought. The MACD level of 9.0691 also points to positive momentum and aligns with the ongoing bullish trend.

Solana is now approaching important resistance levels at $283.18, $328.61, and $438.08. If it can move past $283, it might even exceed its all-time high of $263.21, set on November 23, 2024. According to technical data and Experts like @CryptoJelleNL, SOL price may soon tests new resistance levels and climb to $400 as minimum.

Solana Resistance Level 4Dec24
Solana Resistance Level 4Dec24

What Is Solana and Why Does It Matter?

For beginners wondering, “What is Solana?”—it’s a blockchain platform known for being fast and cheap. It powers various apps, smart contracts, and many other activities in the crypto world. Its native currency, SOL, is a key part of this system and is widely used in crypto exchanges.

With its integration into financial products like ETFs, Solana has gained more trust and attention. This makes swapping Solana to USD easier and more attractive for new and experienced holders. The growing popularity of Solana crypto is also encouraging more people to adopt it.

Beyond Solana: Why Savvy Crypto Fans Are Exploring Minotaurus (MTAUR)

Solana is climbing fast, but Minotaurus (MTAUR) is also the name to keep an eye on. Its presale buzz is hinting at a bold new player in the crypto game. Right now, MTAUR tokens are available for just 0.00006006 USDT, a 70% edge compared to the 0.00020 USDT listing price. Buyers at 0.00004 USDT have already enjoyed 50% growth, and those jumping in now could see a ~234% rise post-listing.

The presale has already hit the 500,000 USDT milestone, up by about 300,000 USDT since 2 weeks ago, and over 14K members have joined the Minotaurus community. MTAUR powers in-game features in a casual gaming market worth $14.78 billion. Holders also enjoy referral bonuses, token incentives through the vesting program, and the chance to win big in the 100,000 USDT giveaway.

With every presale stage, the price rises. Don’t miss your opportunity to join Minotaurus while the price is still low. Secure your tokens today!

Conclusion: Solana’s Path Forward

Grayscale’s spot Solana ETF filing is a major development that could change the future for Solana. SOL is already showing strong technical performance, with short-term targets at $283 and $328. Long-term goals could see Solana price hitting $438 or higher.

Alongside Solana, Minotaurus (MTAUR) stands out as a can’t-miss opportunity. Offering massive upsides for holders and a thriving ecosystem, it’s the kind of project early birds dream about.

South Korea’s Unlimited Liquidity Plan May Fuel XRP Rally, As XRP Defies Martial Law Chaos

Abdulkarim Abdulwahab
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South Korea’s Unlimited Liquidity Plan May Fuel XRP Rally, As XRP Defies Martial Law Chaos

XRP has showcased remarkable resilience amid a tumultuous week for global markets, driven by South Korea’s brief but shocking martial law declaration.

While some financial assets faltered under the weight of political uncertainty, XRP has not only recovered its losses but has maintained an upward trajectory. Yesterday, XRP dipped to $2.36 shortly after reaching a new seven-year peak of $2.86, representing a 17% intraday drop.

The dip followed South Korea’s brief martial law order. Meanwhile, XRP’s price later rebounded to near $2.70.

South Korea’s Role in XRP’s Momentum

The declaration of martial law by South Korean President Yoon Suk Yeol on Tuesday sent shockwaves through financial markets. For instance, the development initially pushed South Korea’s won to multi-year lows, triggering financial instability.

This effect also spilled over into the crypto market, particularly affecting XRP. South Korea is one of the largest crypto markets globally and plays a critical role in XRP’s trading activity.

Analyst Dom pointed out that Upbit, the country’s leading crypto exchange, recently matched or even exceeded Binance in XRP trading volumes. This outcome underscores the substantial influence of South Korean traders on XRP.

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Chart showing XRP volume on Upbit and Binance

Despite the initial selloff in XRP due to the market panic, the token quickly regained its footing, climbing back to near pre-announcement levels. This swift recovery highlights XRP’s resilience and the solid foundation of its recently accrued gains.

“Martial law couldn’t even keep XRP down,” Dom remarked. He reflected that while critics have repeatedly called for XRP’s top, the asset maintained its ground even amid political selling pressure. He expressed that XRP would likely have surpassed $3 if it weren’t for South Korea’s news, which spooked traders.

Unlimited Liquidity and Ripple’s RLUSD Stablecoin

Adding another layer to the narrative, South Korea’s government announced “unlimited” liquidity injections to stabilize financial markets following the martial law debacle. South Korea’s central bank stated it was prepared to deploy 10 trillion won or $7 billion into a stock market stabilization fund anytime.

This move coincides with the imminent approval of Ripple’s RLUSD stablecoin by the New York Department of Financial Services (NYDFS).

Wall Street analyst Linda Jones pointed out the curious timing, noting that South Korea’s liquidity measures align with Ripple’s forthcoming stablecoin. She suggested that these developments might be interconnected, as both events signal moves to bolster confidence in financial markets, including the XRP market.

Bitcoin Daily Realized Profits Drop 42%, Cooling Off to $277M Per Day

Albert Brown
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Bitcoin Daily Realized Profits Drop 42%, Cooling Off to $277M Per Day

The daily realized profits of Bitcoin have dropped 42%, signaling reduced profit-taking amid market consolidation

Bitcoin has experienced notable volatility over the past week, fluctuating between $92,000 and $98,000. After peaking at $99,400, it faced strong resistance and has since traded in a narrow range. Currently priced at $95,782, Bitcoin has increased 1.93% in the last 24 hours and 1.57% over the past week.

Reduced Profit-Taking Activity

In light of these fluctuations, Glassnode, an on-chain analytics firm, suggests that Bitcoin’s market dynamics have shifted into consolidation. The data reveals a significant decline in daily realized profits, which have dropped by 42% from their peak on November 16. 

Glassnode reported that the average realized profits on exchanges now stand at $277 million per day, a stark contrast to the $481 million per day observed earlier.

This drop in profit-taking suggests that many traders are holding their positions, contributing to Bitcoin’s stagnant price. 

Image

Bitcoin Holders Adding to Price Stagnation

Meanwhile, another analyst, James Check, has highlighted the influence of long-term holders on Bitcoin’s current price behavior. Check pointed out that contrary to popular belief, long-term holders do sell at times, and their actions have been a significant factor in the ongoing consolidation.

He compares the market to a car, where demand is the accelerator and the sell-side pressure acts as the brakes. 

While demand remains strong, fueled by institutional involvement and the launch of Bitcoin ETFs, the ongoing sell-side pressure from long-term holders has kept the price from making substantial gains. This balancing act between buying and selling activity has created a market stuck in a holding pattern, unable to break above key resistance levels.

Bullish Outlook Despite Resistance

Despite the ongoing tension between the bulls and bears, industry experts remain optimistic about Bitcoin’s future trajectory.

Tom Lee, Chief Investment Officer at Fundstrat, continues to project that Bitcoin will break through the psychological barrier of $100,000 before the end of the year. 

Lee has emphasized that this level is a critical point of interest for traders and investors, and overcoming it could trigger a significant price surge.

Furthermore, Lee has highlighted Bitcoin’s potential to reach $250,000 in the next 12 months, driven by factors like institutional adoption and growing support for cryptocurrencies within the U.S. political landscape.

Tron Sees Historic $21M in Daily Revenue Amid TRX Dramatic Price Pump

Albert Brown
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Tron Sees Historic $21M in Daily Revenue Amid TRX Dramatic Price Pump

The Tron blockchain has recorded an unprecedented milestone in network daily revenue amid a dramatic surge in the price of its native token TRX.

Tron founder Justin Sun proudly highlighted the achievement in a post on X today. Specifically, on Tuesday, December 3, Tron saw a total revenue of $21.66 million, representing an all-time high for a single day.

Image
TRON network revenue chart

Notably, the network posted a one-day revenue of around $10.92 million on the previous day. This marked a staggering 98% increase compared to the figure from Tuesday. The massive change follows a similar turnaround in the market price of the network’s token, TRX.

TRX Skyrockets by 99% But Dumps Later

TRX traded as low as $0.2204 yesterday, but by midnight, in one fell swoop, the price skyrocketed to an all-time high of $0.4407. This represented a 99.96% growth within one day, making it the best-performing asset among the most prominent cryptocurrencies.

Meanwhile, TRX quickly plummeted after the abrupt price pump. At press time, TRX is trading at $0.356, having lost 19.21% of its gains.

Nonetheless, the improved price of TRX, coupled with increased interest in the network for stablecoin and meme coin activities, has raised Tron network revenue to historic heights.

Tron Sees $1.91 Billion in Yearly Revenue

It’s worth mentioning that Tron’s revenue has been on an upward trend this year. This momentum picked up in August following the introduction of the token deployment platform, SunPump, which sought to rival Solana’s Pump.Fun.

In one day, SunPump launched 7,351 meme coins, generating over half a million dollars in revenue. This activity spilled over to the Tron network, which saw $13 million in revenue in a single day on August 21, setting a historic high at the time.

Currently, Tron’s 30-day revenue amounts to $242 million, up by 21% from the previous month. On a 90-day scale, the network has amassed $637.32 million in revenue, also up by 23% from the previous figure.

Meanwhile, on an annual scale, Tron boasts a staggering $1.91 billion in revenue, which is over 108% higher than the figure from last year.

Tron network statistics
Tron network statistics

Now, with the latest all-time high in daily revenue, Tron community members expect the liquidity surge to spill over into the meme coin arena as the bull market continues.

Russia’s Vladimir Putin Says No One Can Ban Bitcoin

Mark Brennan
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Russia’s Vladimir Putin Says No One Can Ban Bitcoin

President Vladimir Putin teased the idea that Russia and the BRICS countries should create a digital asset, insisting that blockchain technology is here to stay.

Speaking on the first day of the 15th VTB Investment Forum, Putin has argued that Bitcoin and digital innovations will continue to develop. He noted that Russia and the BRICS are pursuing means to tap blockchain technology to make cross-border transactions easier.

The president insisted that as the world’s dependence on the dollar is reducing, countries globally are pursuing newer, better alternatives to settlement. Notably, he mentioned Bitcoin as an emerging means of transactional settlements.

Putin Says No One Can Ban Bitcoin

The Russian president described Bitcoin as a decentralized technological innovation. He noted that no government or country can control the asset or ban its usage. 

Hence, Russia and the global market are turning their attention to the digital asset, with the president calling the move “inevitable.”. Putin further asserted that the use of Bitcoin would continue to go mainstream as countries pursue means to ease cross-border transactional costs and trade more reliably.

Putin Said, “Who can ban Bitcoin? Nobody. And who can prohibit using other electronic means of payment? Nobody. Because these are new technologies, and no matter what happens to the dollar, these tools will happen one way or another because everyone will strive to reduce costs and increase reliability.”

Notably, Russia has adopted the use of cryptocurrencies for cross-border payments. In August, Putin signed a bill in collaboration with the Bank of Russia, allowing the country to transact with other international bodies using Bitcoin.

Russia’s Easing Stance on Cryptocurrency

Meanwhile, the Russian government has continued to change its stance toward cryptocurrency over the years. Previously, the mining of digital assets was strictly prohibited in the country.

However, as Western sanctions rained down on Russia, it turned to other means of secure transactional settlements. Meanwhile, the state has eased its stern crypto disposition, viewing the currency as a means of payment uncontrolled by any government.

For context, In August, Russia passed a bill allowing crypto mining in the state. Furthermore, a November tax bill signed by Putin classified Bitcoin as property, a warmer embrace of the emerging asset.

However, the use of cryptocurrency with the Russian border remains prohibited. The impediment has persisted despite reports that 10% of the country’s population owns cryptocurrency.

Meanwhile, Putin noted during the conference today that Russia and the BRICS are pursuing ways of adopting the nascent sector. Notably, this aligns with their aim to dethrone the dollar’s dominance through alternative means of international trade settlements.

BitBoy Says XRP Next Stop is $4.5, Get Ready

Abdulkarim Abdulwahab
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BitBoy Says XRP Next Stop is $4.5, Get Ready

Ben Armstrong, better known as BitBoy, has recently shared his view on how high XRP could go before its first major pullback.

Currently, XRP is trading at $2.70 after experiencing a more than fourfold price surge since November. This impressive price action has elevated XRP to become the third-largest crypto asset by market cap, trailing only Bitcoin and Ethereum.

Notably, XRP reached its current position faster than many anticipated. It was trading in the $1 range just two days ago, and since entering the $2 range, it has continued to rise and is now looking to hit $3.

Amid this, market analysts like Ben Armstrong are voicing their opinions on where XRP could go before cooling off from its streak of giant green candles.

XRP Next Stop is $4.50

In a tweet, Armstrong suggested that $4.50 is the next target XRP for XRP, urging market participants to prepare for the wave. This price point would mark a fresh all-time high.

With XRP at $2.70 at the time of writing, reaching $4.50 would require an additional growth of 67%. For a coin that has already seen over 100% gains in under seven days, XRP proponents believe this new projected level is within reach.

At the $4.50 price point, XRP’s market cap would rise to $256 billion, bringing it closer to Ethereum’s valuation.

Commenting on BitBoy’s tweet, community members shared even more optimistic outlooks for XRP’s next stop before a potential consolidation phase. Analyst Mack suggested a $10 price target, while another argued that the ongoing uptrend could continue for another 12 days before a retracement.

Take Profit and Exit XRP

However, amid the optimism around XRP’s growth, critics are raising red flags, cautioning holders to take their accrued profits and exit the market.

Analyst “ElonTrades” has called on XRP holders not to get caught in a “roundtrip” this time, urging them to take their current 4X profit “and run.”

He shared a chart showing that in at least two instances in recent history when XRP experienced towering candlesticks, a major price slump followed shortly after.

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As a result, he has advised moving profits into other underperforming crypto assets while there’s still an opportunity. Market commentators like IncomeSharks have even predicted a potential massive XRP dump to $0.60, which would represent a substantial 77% loss for current holders.

BNB Active Addresses Hit 8-Month Peak Amid Price ATH

Mark Brennan
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BNB Active Addresses Hit 8-Month Peak Amid Price ATH

The BNB Chain is witnessing a massive spike in active addresses, as this metric spikes to an 8-month peak following the recent price ATH.

According to blockchain analytics platform Glassnode, the BNB Chain recently clinched 751,000 active addresses. This marks the highest level of activity observed on the network in the past eight months. 

Glassnode attributes the surge to rising on-chain activity and an improvement in network fundamentals, noting that active address momentum plays an important role. This metric often signals growth in network usage and adoption.  

However, despite the recent uptick, current active addresses remain well below the 2021 peak of approximately 1.5 million. Glassnode noted that this gap is a sign of potential for further growth in network activity and adoption.  

PancakeSwap’s Springboard  

The spike in active addresses also coincides with PancakeSwap’s launch of “Springboard,” a new protocol on the BNB Chain for token creation. 

Interestingly, the protocol allows users to create tokens on the network without requiring coding skills, streamlining the token creation process. PancakeSwap has emphasized that the tool is free, encouraging participation on the BNB Chain.  

Springboard follows the trend set by similar features on other blockchains, such as SunPump on TRON, snek.fun on Cardano and First Ledger on the XRPL. These protocols have led to an increase in address activity on their respective networks. 

BNB Hits ATH

The recent surge in address activity also comes at a time when Binance Coin (BNB), the native token of the BNB Chain, recently achieved a major milestone by hitting an all-time high (ATH) of $793 today.

Although the token slightly retraced from this peak, now trading around $774, it still maintains a daily gain of 5.42%. Despite underperforming last month, with a meager 13% gain, BNB has begun December on a bullish note, already up 18% so far.

Notably, market analyst Mando CT remains optimistic about BNB’s long-term performance. Commenting on X, he noted that BNB has consistently delivered strong results for investors over time. 

He congratulated the Binance community on the new ATH and expressed confidence in BNB surpassing the four-digit price range, describing it as a simple and inevitable outcome.  

Meanwhile, with BNB now in price discovery mode, Crypto Mechanic, another analyst, highlighted the lack of historical data to determine profit targets. However, using Fibonacci retracement levels, he identified $858.65 and $892.71 as potential short-term targets.  

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