Crypto Market Digest: XRP ETF Milestone, Shiba Inu’s Rare Divergence, and Cardano’s Liquidation Imbalance
Key Takeaways
- Ripple CEO celebrates XRP ETF milestone, surpassing BTC and ETH in inflows.
- Shiba Inu prints rare price-on-chain divergence, with 100 trillion SHIB traded in 24 hours.
- Cardano’s 1,303% liquidation imbalance stuns bulls, raising concerns about market volatility.
- Crypto market slips below $3 trillion, with XRP leading the pack in ETF inflows.
XRP ETF Milestone: A Reason to Celebrate?
Ripple CEO Brad Garlinghouse has been celebrating a significant milestone for XRP, as the cryptocurrency has surpassed Bitcoin (BTC) and Ethereum (ETH) in exchange-traded fund (ETF) inflows. This achievement marks a significant turning point for XRP, which has faced intense regulatory scrutiny in the past. The increased institutional interest in XRP could be a sign of growing confidence in the cryptocurrency, which has been working to establish itself as a viable alternative to traditional payment systems.
Shiba Inu’s Rare Price-On-Chain Divergence
Shiba Inu (SHIB) has been making headlines with a rare price-on-chain divergence, which saw 100 trillion SHIB traded in just 24 hours. This unusual activity has raised eyebrows among analysts, who are struggling to explain the sudden surge in trading volume. While some speculate that this could be a sign of a potential price breakout, others are more cautious, warning that this divergence could be a sign of market manipulation.
Cardano’s Liquidation Imbalance: A Cause for Concern
Cardano (ADA) has been experiencing a significant liquidation imbalance, with a staggering 1,303% increase in liquidations over the past 24 hours. This has left many bulls stunned, as the sudden increase in selling pressure has raised concerns about market volatility. While some argue that this could be a sign of a healthy market correction, others are more worried, warning that this could be a sign of a larger market downturn.
Crypto Market Slips Below $3 Trillion
The crypto market has slipped below $3 trillion, with XRP leading the pack in ETF inflows. While this may be a cause for concern for some investors, others see this as an opportunity to buy the dip. As the market continues to evolve, it’s clear that XRP, Shiba Inu, and Cardano will be worth watching in the coming days.
Read Also Epochs
