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Shiba Inu Team Completes Shibarium Hard Fork to Introduce Blazing-Fast Transactions 

Lele Jima
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Shiba Inu Team Completes Shibarium Hard Fork to Introduce Blazing-Fast Transactions 

The official X handle for the Shiba Inu layer-2 blockchain solution, Shibarium, has announced the completion of its highly anticipated hard fork. 

According to the announcement, the hard fork, which occurred at block height 4504576, will offer Shibarium users new and improved features.  

The Shiba Inu ecosystem team stated that Shibarium users will enjoy blazing-fast transactions and predictable gas fees. Following the hard fork, Shibarium will enhance user experience and scalability by processing transactions faster than before. 

Additionally, the hard fork’s feature of predictable gas fees will allow Shibarium users to predict the fees they will pay for each transaction on the network. As a result, Shibarium’s gas fees, which usually fluctuate during high network traffic, will remain stable.  

Shibarium Latest Hard Fork 

The announcement comes a few days after the Shiba Inu development team revealed that the hard fork will focus on two major components: Bor and Heimdall. As reported earlier, the Bor hard fork became effective at block height 4504576 on May 2 at 02:30 AM (EST). 

In addition, the second hard fork, focusing on the Heimdall component, was scheduled to go live on May 3, at 12:30 AM (EST), or block height 3941864. 

While the Bor upgrade centered on bolstering the calculation of state sync confirmation, the Heimdall hard fork revolves around bestowing “deterministic finality” on Shibarium. 

Notably, the Shibarium network had previously undergone a brief hard fork in the past. At the time, the swift hard fork, which focused on the Bor component, occurred at block height 1962000 in December 2023, less than three months after Shibarium’s mainnet launch. 

Shibarium Daily Transaction Volume Decline Despite Successful Hard Fork 

After the hard fork in December, Shibarium witnessed a jaw-dropping surge in transaction volume, reaching daily counts of 5 to 7 million transactions. 

Despite Shibarium’s latest hard fork, the network’s daily transaction volume has plummeted heavily due to the recent downturn in the broader market. 

Over the past 24 hours, Shibarium has only processed 3,490 transactions, according to data from Shibariumscan. Overall, the L2 network has processed 417,377,849 (417.37 million) transactions since launch.

It remains to be seen how the recently completed hard fork will impact Shibarium’s stats in the long term, especially transaction volume. 

Is Elon Musk Testing XRP Payment for X/Twitter

Abdulkarim Abdulwahab
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Is Elon Musk Testing XRP Payment for X/Twitter

Recently, speculation emerged in the XRP community about Elon Musk’s social networking platform X (formerly Twitter) supposedly “testing” XRP payments.

Promoters of this theory include Amelie, a well-known UAE-based crypto influencer. The rumor initially picked up after Ripple CEO Brad Garlinghouse merely mentioned “X” during a recent interaction on the platform.

Amelie raised the question, “Why does Brad Garlinghouse mention X?” Accordingly, she pointed out that the social media platform intends to launch a payment system soon, pondering whether XRP will be incorporated.

A few days after this initial speculation, Amelie presented a screen recording of a transaction on the XRP ledger featuring a user named “musk.” The ledger entry showed that on November 15, 2013, this user had a balance exceeding 16 million XRP. The Crypto Basic called attention to this address in a February report. 

This user engaged in transfers involving 8 million XRP sometime in 2017. Meanwhile, this wallet has transactions as recent as 2023. Furthermore, the video suggested that “musk” has had dealings with popular exchanges like Uphold and Bitstamp.

As a result, Amelie concluded, “It looks like XRP payments have actually been tested on X,” speculating that “2024 WILL BE BIG.”

XRPL Validator Sets Records Straight 

However, XRPL validator Vet has countered this speculative suggestion of Elon Musk “testing” XRP payment based on the purported transactions.

Vet clarified that the labeling of XRPL accounts on wallet services or explorers is not officially sanctioned, indicating that users can arbitrarily choose any name, including “Elon Musk.” 

“There is no authorization from Elon Musk needed to label this account,” the XRPL validator emphasized

Essentially, such a label on a transfer on the XRP blockchain does not confirm the involvement of Elon Musk himself in the transactions.

Besides, this is not the first time this video has surfaced. X user Crypto Krizzy posted it last year shortly after XRP secured regulatory clarity from the U.S. court, sparking similar speculation.

Additionally, it is believed that Elon Musk will favor Dogecoin (DOGE) over XRP should his platform consider incorporating cryptocurrency payments.

DID Amendment to Fix Fake Identity Issue

Meanwhile, the XRPL validator has also confirmed that the Decentralized Identifier (DID) functionality amendment will address fraudulent identities in transactions.

This amendment is currently up for voting, which has so far achieved a validator consensus of 34.29%.

Kraken Launches New Shiba Inu Margin Pairs

Albert Brown
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Kraken Launches New Shiba Inu Margin Pairs

Kraken expands trading with the introduction of new margin pairs on Shiba Inu and others, offering 3x leverage and fee adjustments to enhance trading options.

Kraken has recently expanded its margin trading offerings with several new cryptocurrency pairs, notably including Shiba Inu (SHIB). In addition to SHIB, the new margin trading pairs also include ICP (Internet Computer), PEPE, and WIF (Dogwifhat), each offering tailored leverage and position limits. 

Specifically, the SHIBUSD pair provides traders with 3x leverage, allowing a high volume of trading positions up to 1,500,000,000 (1.5 billion) SHIB. However, it bears mentioning that the recent addition is specifically on Kraken Pro, Kraken’s advanced trading platform.

Margin trading allows traders to use borrowed funds to potentially increase their returns. However, this comes with increased risks and costs, including fees for opening, holding, and closing positions. Traders must hold at least one collateral currency and adhere to platform-specific and regulatory compliance to engage in margin trading.

Recent Developments in Shiba Inu Trading

In addition to expanding margin trading options, Kraken has been active in promoting Shiba Inu’s liquidity and accessibility. In 2023, Kraken launched SHIB/USD perpetual futures with up to 10x leverage for its average users, a significant enhancement for Shiba Inu traders seeking to capitalize on market movements through futures contracts.

During a 100-day promotional period in last year, the exchange offered 0% maker fees and only 0.01% taker fees for SHIB and PEPE perpetual futures trading. This fee adjustment aimed to attract an increased volume of traders by making it more cost-effective to engage in frequent and high-volume trading strategies.

The latest development comes at a time when Shiba Inu has continued to enjoy extended support from multiple exchanges. Most recently, Binance Japan introduced a Shiba Inu trading pair denominated in the Japanese Yen. Leading exchange Crypto.com also launched a new SHIB trading pair in January.

It is essential for traders to consider the geographic and regulatory restrictions that apply to Kraken’s services. These restrictions can affect the availability of certain trading options depending on the trader’s location, proving the importance of compliance with local laws and exchange policies.

Ripple CEO Expresses Excitement About These XRP Events

Lele Jima
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Ripple CEO Expresses Excitement About These XRP Events

Ripple CEO Brad Garlinghouse conveys his enthusiasm about the growth of XRP-related community events.

Garlinghouse made this known in a tweet yesterday, providing a special mention to notable events like the recently concluded XRP Gold Coast 2024 conference and the upcoming XRP Las Vegas and XRP Ledger Apex events.

XRP community members organize these events to foster engagement and collaboration within the ecosystem. 

XRP Gold Coast 2024

It is worth mentioning that the XRP Gold Coast 2024 conference featured an impressive lineup of keynote speakers, including Massachusetts senatorial candidate John Deaton and Jay Kambo, founder of the SpendTheBits payments platform.

The event was held in Australia from March 22 to 24 this year.

XRP Las Vegas 2024

XRP Las Vegas, touted as the largest XRP conference in the world, is a two-day event scheduled to commence today and tomorrow (May 3 – 4) in Las Vegas, United States.

The event was established to create an opportunity for blockchain enthusiasts, industry leaders, and innovators from across the globe to meet and share ideas. Attendees will learn more about XRP and the latest developments surrounding its underlying blockchain, XRP Ledger (XRPL).

The event organizers have arranged for notable industry experts to speak on four major topics: TradeFi/DeFi, builders, policy, and Web 3.

The list of speakers and panelists includes Ripple CTO David Schwartz, Uphold CEO Simon McLoughlin, founder and CEO at Chamber of Digital Commerce Perianne Boring, Linqto COO Joe Endoso, Miles Franklin CEO Andy Schectman, and Congressman Wiley Nickel.

The speakers’ list also includes pro-XRP lawyers, including Attorneys Jeremy Hogan, James Murphy (a.k.a MetaLawMan), and Deaton.

Although Garlinghouse was not included as one of the speakers, the Ripple CEO might be attending the XRP Las Vegas event as a guest of honor.

XRP Ledger Apex 2024

Meanwhile, Ripple is the main organizer of the XRP Ledger Apex event. The 2024 edition will be held from June 11 to 13 at Postillion Hotel & Convention Centre in Amsterdam, Netherlands.

In this year’s edition, Ripple anticipates over 700 attendees, 70+ speakers, and 40+ sessions. At press time, tickets were still on sale, and early birds could secure a pass for $150 before an eventual increment.

Some of the speakers include Tauvlo CEO Guillermo Alda, Phi Wallet CEO Eslam Anbar, Ripple’s Head of DeFi Products Jasmine Cooper, Credefi Finance CEO Ivo Grigorov, and Axiology founder and CEO Marius Jurgilas.

Notably, Garlinghouse disclosed that he will be attending the XRP Ledger Apex summit in June 2024 and hopes to meet several XRP community members.

Can Shiba Inu Achieve $0.00011 Globally Similar to Japan

Sam Wisdom Raphael
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Can Shiba Inu Achieve $0.00011 Globally Similar to Japan

Shiba Inu price recently spiked to $0.001 on Binance Japan upon the listing of a SHIB/JPY pair, sparking speculation on the possibility of this price across global exchanges.

The price of Shiba Inu has continued to oscillate between a high of $0.00002814 and a low of $0.00001830 for three weeks. As SHIB trails the broader market, its price direction has been dictated by Bitcoin’s (BTC) movements, which have failed to impress over the past month.

However, SHIB’s price in Japan witnessed a unique boost at the end of April on the back of a pivotal development. The Crypto Basic recently confirmed that Binance Japan, the Japanese arm of the world’s largest exchange Binance, disclosed plans to list a Shiba Inu trading pair denominated in the Japanese Yen.

Shiba Inu Price Spikes to $0.00011 in Japan

Trading for the pair began on April 30, leading to an influx of market participants, as volume saw a sharp increase. Interestingly, amid this surge in trading activity, Shiba Inu price recorded a spike to 0.01666 JPY on Binance Japan before witnessing a massive drop from the record high to trade at 0.0003741 JPY.

At the time of the report, the 0.01666 JPY high translates to $0.00011, marking a 393% increase from Shiba Inu’s actual market value of $0.00002231 then. This price spike is attributable to increased visibility for SHIB in Japan, speculation, and investor rush. The listing attracted speculative trading, driving prices up further.

Despite this rise being artificial, some Shiba Inu community members are optimistic that a $0.00011 value could someday be SHIB’s real price in the global market. At the reporting time, the Shiba Inu price currently trades for $0.00002298, requiring a 378% increase from the current price to hit $0.00011.

How Possible is a $0.00011 Price for SHIB?

SHIB recently recorded a price increase close to this rate this year, having spiked from $0.00000965 on Feb. 25 to the yearly peak of $0.00004567 on March 5. This rally marked an impressive 373% increase within eight days, suggesting that Shiba Inu is capable of claiming the 378% rise required to reach $0.00011.

Moreover, at the $0.00011 price, SHIB’s market cap would stand at $64.8 billion, representing an addition of $51 billion to the current valuation of $13.49 billion. This market cap would mark Shiba Inu’s highest valuation since inception, about $24 billion more than the peak of $40 billion recorded in 2021. 

These metrics confirm that Shiba Inu has the potential to reach the $0.00011 price. Interestingly, multiple industry commentators have predicted SHIB to clinch $0.0001 in recent times. In early April, chartist Crypto Sheriff noted that Shiba Inu’s recent breakout could take it toward $0.00011. 

Moreover, analyst Javon Marks projected two months back that SHIB could skyrocket to the $0.000015 price territory. Market watcher Bunchhieng also argued last month that Shiba Inu is looking to stage a price rally, with the $0.0001 price territory a possible target. However, while the $0.00011 is highly possible, it is uncertain if SHIB can actually clinch it.

Users Can Now Buy Shiba Inu With PayPal

Abdulkarim Abdulwahab
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0
Users Can Now Buy Shiba Inu With PayPal

PayPal users in the United States can now buy Shiba Inu (SHIB) tokens internally following a recent collaboration with leading crypto payment processor MoonPay.

On Thursday, MoonPay announced a crucial partnership with PayPal. At the core of the collaboration is to facilitate smooth transitions from fiat currency to crypto assets like Shiba Inu.

Buying Shiba Inu with PayPal

As a result of this partnership, PayPal users in the U.S. can now easily buy cryptocurrencies like Shiba Inu through the crypto payment processor MoonPay.

Furthermore, the report highlighted that the integration simplifies crypto acquisition for MoonPay customers who possess a PayPal account for online transactions. Specifically, when opting for PayPal, users can finance their crypto purchases using their PayPal balance, debit cards, or direct bank transfers. 

Interestingly, existing PayPal users need not manually input any of these details during the crypto purchase transactions.

Notably, this development comes after growing anticipation from the Shiba Inu Army about PayPal welcoming SHIB payment. Now, MoonPay has created a window for users in the United States to seamlessly procure SHIB tokens with PayPal.

Other Buyable Tokens Via PayPal

Furthermore, MoonPay emphasized that U.S. users can leverage this new integration for over 110 supported cryptocurrencies. Crypto assets MoonPay supports include Shiba Inu, Bitcoin, Ethereum, Cardano, and Solana, which are all buyable via PayPal balance.

However, some assets the payment processor originally supports are not available for purchase through PayPal, as they are not accessible to users in the U.S. These include PEPE, BNB, Cosmos (ATOM), AAVE, UNI, and TON, among others.

It is worth noting that while crypto purchases via PayPal are currently available to MoonPay users in the U.S., the report noted that this solution is expected to roll out across MoonPay’s partner networks before the end of the year.

Moreover, MoonPay has indicated that in the near future, U.S. users will have the option to sell cryptocurrencies using PayPal. The payment processor also revealed intentions to extend this service to users in the U.K. and the EU.

Notably, The Crypto Basic reported last year that Shibarium-based DEX Marswap integrated a feature enabling investors to buy and sell Shiba Inu ecosystem token BONE using PayPal.

Legal Experts Think Ripple Will Lose This Case Against SEC 

Lele Jima
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0
Legal Experts Think Ripple Will Lose This Case Against SEC 

Two pro-XRP attorneys speculate that Ripple will lose its motion to strike testimony provided by Andrea Fox, an accountant with the SEC’s Enforcement Division. 

Attorneys Bill Morgan and Jeremy Hogan made this known while reacting to Ripple’s reply brief to the SEC’s opposition to the motion to strike. 

Motion to Strike Fox Declaration 

For context, Ripple filed its reply brief yesterday to further support its April 22 motion to strike expert materials submitted by the SEC. Notably, the SEC included Fox’s declaration in its remedies-related opening brief in March, aiming to strengthen its case for an injunction and punitive penalty. 

The bone of contention about Ripple’s motion to strike is whether Fox is an expert or summary witness. While Ripple claimed the accountant is an expert witness, the SEC debunked this claim in an opposition last month, noting that she is a summary witness. 

Ripple argued that the SEC was supposed to provide Fox’s declaration and identity during the discovery phase of remedies to grant it the opportunity of deposing her. 

However, the SEC contends that Fox is a summary witness who only summarized existing facts to give the judge a better understanding of Ripple’s audited financial records. 

Ripple’s Reply Brief   

In the reply brief, Ripple insisted that Fox is an expert witness. Building on this premise, the company noted that the SEC still failed to dispute its argument that mandates the agency to submit her report during the discovery phase. 

Additionally, Ripple contended that even if Fox is a summary witness, the parties’ agreement and court scheduling order require the SEC to reveal her identity before the end of remedies-related discovery.

Furthermore, the company said the SEC did not address the legal precedents it raised to support its motion to strike.  

Legal Experts Think Ripple Will Lose 

It bears mentioning that seasoned defense lawyer James K. Filan shared Ripple’s reply brief on X yesterday.

The brief stirred reactions among top legal experts, who predicted that Ripple would lose the case. 

Attorney Morgan noted that even though Ripple could lose the motion, the judge might agree that Fox gave some expert evidence in her report, thus allowing the company to depose her. 

Similarly, Attorney Hogan speculated that the SEC would secure a win against Ripple regarding the motion to strike. He emphasized that if the court finds Fox to be an expert, it will not strike her declaration but allow Ripple to depose her. 

The court’s decision on the motion could come at any time, and the outcome remains uncertain. In the meantime, crypto community members are expecting the SEC to file its reply to Ripple’s opposition to its opening remedies brief. The SEC reply brief is due on May 6. Afterward, the court will issue its decision on remedies. 

Large Dormant XRP Movements Spike As Open Interest Surges

Sam Wisdom Raphael
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Large Dormant XRP Movements Spike As Open Interest Surges

As prices flirt with the $0.52 zone, XRP recently witnessed its largest surge in the movement of dormant tokens in nearly three weeks amid an increase in Open Interest.

With the prevalent downturn in the broader market comes a turbulent period for XRP and other cryptocurrencies. While XRP recently dropped 10.1% over a seven-day period, a report from The Crypto Basic yesterday confirmed that it outperformed the broader market, which collapsed 13.3% within the same timeframe.

XRP briefly slid to a low of $0.4782 on the first day of this month, but a quick recovery move has seen it reclaim the pivotal levels at $0.50, $0.51, and, most recently, $0.52. Amid the recovery push, Santiment called attention to an observable rise in the movement of dormant XRP tokens.

XRP Sees Spike in Dormant Token Movement

In an analytical post yesterday, the crypto behavior resource leveraged its Token Age Consumed metric to identify a massive spike in the number of old tokens moved by market participants, with the value surging to 130.14 billion on May 1. 

Notably, this indicator tracks the amount of XRP tokens moved by traders on a particular day and then multiplies this figure by the last time the tokens were moved. The latest data marks the highest value since April 13, suggesting that market participants moved a large amount of dormant XRP tokens on May 1.

XRP Token Age Consumed Santiment
XRP Token Age Consumed | Santiment

Santiment confirmed that while the XRP network witnessed a similar surge on April 13, amounting to 131.41 billion, the market responded with a massive collapse. This rise coincided with an already bearish phase for XRP, as it had already recorded an 11.54% drop on April 11 and 12. 

As a result, the rise in the Token Age Consumed metric on April 13 was a result of investors moving to sell off or distribute their holdings as a hedge against steeper declines. This resulted in a massive 12.44% price collapse for XRP on April 13, its largest intraday loss since Aug. 17, 2023.

However, industry pundits believe the spike in tokens moved on May 1 could lead to a different result. As asserted by Santiment, the recent surge in movement could be due to investors rushing to scoop up more XRP tokens. This could consequently bolster the ongoing relief rally staged by XRP, which has already seen it reclaim $0.52.

Investors Moving Their Tokens Out of Exchanges 

In addition, further data sourced by Coinglass shows a bullish trend, confirming that exchanges witnessed a spike in negative Netflow on May 1, amounting to -$29.11 million. This was as a result of investors pulling out their XRP tokens from exchanges possibly for long-term storage in cold wallets.

XRP Exchange Netflow Coinglass
XRP Exchange Netflow Coinglass

Santiment also called attention to a rise in XRP open interest, which spiked to a 3-week high above $480 million on May 2. An increase in Open Interest when prices are recovering suggests an inflow of new money, bolstering strength in the recovery push and improving liquidity. These typically indicate growing bullish sentiments.

Notably, XRP is up 3.90% this month as it looks to recoup the 20.44% loss suffered in April. XRP has reclaimed the $0.52 territory, currently trading for $0.5202, but changing hands underneath the 20-day EMA ($0.5279). The bulls need to firmly defend the $0.4851 level to hedge against any steeper drops this month.

Here’s When Holding 100M Shiba Inu Will become $1M

Sam Wisdom Raphael
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Here’s When Holding 100M Shiba Inu Will become $1M

Shiba Inu investors holding 100 million tokens at the current price could witness their holdings skyrocket to $1 million if SHIB reaches a value of $0.01.

The broader crypto market is currently witnessing a downward push, with prices collapsing to monthly lows in recent times. As a result, the global cryptocurrency market cap has dropped to $2.38 trillion at last check, down from the $2.76 trillion peak last month.

Amid the ongoing collapse, Shiba Inu has faced market turbulence, down nearly 45% from the $0.000045 yearly high attained last month. Despite the ongoing bearish pressure, optimism prevails within the Shiba Inu community, as predictions of an imminent price recovery fill the space.

Worth of 100M Shiba Inu at $0.01

While predictions of certain audacious targets have prevailed, Shiba Inu’s potential to reach them remains questionable. Nonetheless, this has not dampened the confidence among investors, with some seeking to evaluate the conditions that could take their holdings to $1 million.

Particularly, addresses holding at least 100 million SHIB, amounting to 89,924, according to data from IntoTheBlock, could see their holdings reach $1 million at varying price levels. However, those holding exactly 100 million SHIB would need to wait for SHIB to erase three more zeros from its price.

This cohort of investors with a balance of 100 million tokens currently holds $2,483 worth of Shiba Inu at the current price of $0.00002483. The 100 million SHIB would surge in value to $1 million if Shiba Inu reaches the lofty $0.01 price target.

Can Shiba Inu Reach $0.01?

Certain market commentators and crypto-focused entities have presented projections of audacious price targets such as $0.01. For instance, Lucie, a Shiba Inu marketing specialist, disclosed early last month that she believes the $0.01 price is possible for SHIB but not in the short term.

Moreover, in February, Shiba Inu community figure Lola made a case for SHIB reaching $0.01, citing a glitch on U.S.-based exchange Coinbase. In light of these predictions, The Crypto Basic presented three factors that could take Shiba Inu to $0.01, including token burns, positive ecosystem developments, and the extent of the bull market.

While a combination of these factors could bolster Shiba Inu’s chances of reaching this price level, there is no guarantee that SHIB would achieve this feat. Such a massive price spike would require monumental burns similar to the one Ethereum founder Vitalik Buterin carried out in conjunction with a surge in demand.

XRP Price Outperforms Crypto Markets as Open Interest Holds at $540M

Mark Brennan
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XRP Price Outperforms Crypto Markets as Open Interest Holds at $540M

XRP price stalled at $0.51 on May 2, 2024, and despite wobbling with the market over the past month, derivatives traders are showing remarkable resilience.

XRP price is Outperforming the Market

XRP price suffered volatile swings in April, as it recorded a 24% decline for the month. But remarkably, a closer look at the recent market activity suggests that XRP has outperformed Bitcoin, Ethereum and the broader crypto market in the last 10 days.

XRP Price Action | TradingView
XRP Price Action

Since April 23, XRP price has declined 10.1% according to the the market data depicted above.

Meanwhile, the TOTAL CRYPTOCAP chart which tracks the market capitalization of all listed crypto assets, shows a decline of 13.3% during the same 10-day timeframe between April 23 and May 2.

This essentially indicates that XRP price has outperformed the overall crypto markets by a 3% margin in the recent week.

Speculative Traders’ Optimism Behind XRP Price Resilience

Looking beyond the price charts, recent trends observed in the derivatives markets suggest optimistic speculative traders are behind XRP’s resilient price performance relative to the broader crypto sector.

Coinglass’ Open Interest chart below tracks real-time swings in the value of active futures contracts opened for a specific cryptocurrency asset.

XRP Open Interest vs. Price 
XRP Open Interest vs. Price

On April 23, XRP open interest stood at $562.3 million. At the time of publication on May 2, that figure has declined to $540.2 million, with $22 million deficit representing a 4% decline.

Meanwhile, XRP price dropped by 10.1% during the same 10-day period between April 23 and May 2.

When open interest holds steady with smaller declines compared to price, strategic investors may interpret it to be a bullish signal.

Firstly, it suggests that despite the drop in price, market participants are maintaining their positions, making hedge purchases rather than exit. This continued show of interest in XRP indicates underlying confidence among existing holders.

Secondly, the relatively stable open interest may indicate fatigue among sellers, which is often a precursor to a rebound phase.

XRP Price Forecast: Bulls to Hold $0.50 Support

Drawing inferences from the market data analyzed above, a stable open interest could keep XRP price above $0.50 in the days ahead. However, the prospect of a definitive rebound toward $0.60 still relies heavily on demand returning to the broader crypto markets.

On a positive note, the Bollinger bands technical indicator shows that XRP is currently trading just above the 20-day SMA at $0.51, giving bulls the upper hand in the near-term.

XRP Price Forecast 
XRP Price Forecast

If the bulls move to extend the recovery phase further, they could face a major resistance at $0.55, as depicted by the upper-limit Bollinger band indicator.

On the contrary, the bears could seize control if XRP loses the $0.45 psychological support. However, that outcome seems unlikely in the near term with the open interest holding steady, and a potential buy-wall mounted at the $0.48 level.

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