XRP price warning flags despite Ripple ETF advances
The daily timeframe chart reveals that XRP has been falling from August's all-time high of $3.6650. Its lower lows and lower highs indicate that all rebounds are facing significant opposition.
The popular death cross pattern—a 50-day and 200-day Exponential Moving Average crossover—has also developed on ripple pricing.
The token may have formed a minor head-and-shoulders pattern, another bearish reversal. It also fell below the 38.2% Fibonacci Retracement and Supertrend signal.
The October low of $1.7707 is the next target for XRP, therefore a pessimistic outlook is anticipated. A drop below that threshold indicates additional loss.
A break above the 50-day and 200-day moving averages will invalidate the bearish Ripple forecast.
Pi Network pricing may bounce after top whale buys 5M coins.
Pi Network price outperformed most altcoins this week as its biggest whale bought more. PiScan shows he bought almost 5 million tokens in recent days. The tokens are valued over $1 million.
The whale has over 376 million Pi coins worth $82 million. He holds the most tokens after the Pi Foundation. Most significantly, he is one of the few whales actively collecting tokens.
His accumulation matters since he is unknown. He may be a Pi Network member or an outside entity with material information due to his conviction. He may work for a big exchange that lists the cryptocurrency.
Burn rate rises, currency reserves fall: Will Shiba Inu price rebound?
Shiba Inu, the biggest meme coin on Ethereum (ETH), traded at $0.0000090, just above $0.00000853, critical support. It's 65% below this year's peak.
Many SHIB fundamentals are positive. Shiburn data showed the burn rate rose roughly 2,000% to 4.14 million on Saturday. One user's 2.14 million token transaction and another's $1.97 million drove this fire.
With certain people burning large amounts, Shiba Inu's burn rate has been climbing. Some users burned 180 million tokens on Wednesday and 621 million the day before.
Crypto investors like token burns because they lower network inflation. They are similar to share buybacks, which restrict stock circulation.
Share buybacks increase earnings per share, whereas token burns lower inflation.
On-chain analytics reveal more tokens leaving exchanges, which may boost Shiba Inu. Exchanges presently have 285 million tokens, down from 295 million in August. This indicates that investors are not selling the token during the drop.
