Ripple’s Price Is Down by 11% in 3 Days But Here’s Some Good News for the XRP Army
TL;DR
The chart by the popular crypto analyst Ali Martinez shows that the TD Sequential, which is used to determine the market exhaustion in either direction on various timeframes, has presented “multiple buy signals” on XRP’s hourly chart.
This comes after Ripple’s token failed to overcome the aforementioned $2.7 resistance on Monday and Wednesday and dropped to $2.3 earlier today, which represented a price drop of over 12% in a few days.
The price rejection aligned with Judge Torres’s decision to deny a joint motion filed by the US SEC and Ripple to end their lawsuit with an official settlement of $50 million.
Previously, Martinez indicated that XRP didn’t have any major resistance obstacles on its way to $3 and beyond. However, he warned that the most critical support is at $2.38, which could spell further troubles for the asset if it falls below it—something that happened in the past 24 hours.
What could also be regarded as a bearish sign is the lack of new users on the XRP network, since the average daily creation of new wallets sat at 3,500 a few days ago. According to Santiment, this number is far behind the leaders, Bitcoin (309,000 per day) and Ethereum (112,000 per day).
Bitcoin turns boring as volatility sinks to record low against gold
Bitcoin volatility has dropped to a new all-time low compared to Gold. VanEck’s head of digital assets research, Matthew Sigel, shared the data from Bloomberg Terminal on X, noting that BTC 30-day volatility fell to 28.70.
This is the lowest volatility level for Bitcoin in more than 10 years and also meant that BTC volatility dropped below Gold’s for the first time. The same data shows that Gold currently has a volatility of 33.49 while the SPX also has 40.45 within the same period.
With Bitcoin volatility dropping, the volatility ratio for Bitcoin and Gold now stands at 0.87. It is the lowest level in a decade. Sigel considered this to be a good development for the flagship asset.
Volatility describes the degree of price variations for an asset over a period of time. When low, it is generally considered a positive sign of asset maturity and price stability, which will attract more institutional investors. This appears to be Sigel’s point of view.
The VanEck researcher had earlier highlighted a recent research paper stating that CERN Physicists have been able to turn lead into Gold. He used this as further proof of the inherent value of Bitcoin as the scarcity is already programmed, unlike Gold, which may soon be produced in laboratories.
However, not everyone agrees that low volatility is good for BTC at the current stage. As one user observed, Bitcoin is still in its early stages, and volatility expansion could attract more inflow, which could be bad for low volatility.
They wrote:
“Persistent low volatility regime would likely lead to many investors selling BTC (and our many complicated BTC proxies) to look for yield and opportunity elsewhere.”
While the likelihood of low volatility persisting is unknown, the concerns echoed real. The decline in Bitcoin volatility is because the asset has been stuck in price ranges for extended periods over the past month despite gaining more than 22% in the last 30 days.
Initially, it was in the $93,000 to $96,000 range for most part of late April and early May. However, it surged above $100,000 on May 8 and has remained stuck in that price zone, not exceeding $104,000 even as other assets saw bigger shifts.
Bitcoin’s low volatility has allowed it to maintain its current $103,000 value even as altcoins saw a decline in their value over the last 24 hours. Still, its failure to break the $104,000 resistance remains a concern.
However, experts have found an explanation for why Bitcoin is stuck. Onchain analyst Darkfost said that the derivatives market is to blame, pointing out that short positions against BTC have exceeded long positions since the asset climbed above $100,000.
This suggests that most traders doubt that Bitcoin can hit a new all-time value quickly and are betting against it, leading to significant selling pressure.
However, the low volatility and price stalling do not bother most market experts who believe Bitcoin is on track to set a new all-time high. Fidelity VP of Digital Assets Research, Chris Kuiper, recently shared a report showing that Bitcoin is still in Acceleration Phase.
According to the report, the Acceleration Phase is a period of high volatility and high profits, with investors pushing the assets to a peak price before they retreat to the Reversal Phase. As of May 13, when BTC was trading at $104,119, 99% of wallets were in profits.
Beyond that, Binance whale inflows to exchanges have dropped to the lowest level since November 2024, according to CryptoQuant. This is another positive indicator of future price expansion.
Meanwhile, crypto analyst Ali Martinez believes that the Bitcoin market’s top for this cycle could be at $120,000 as long as the $90,000 support level is maintained.
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Dogecoin (DOGE) Breaks Out: Bullish Momentum Builds Toward $1 Milestone
DOGE is showing strong signs that a rally may be on the horizon. On-chain data is painting a bullish picture, with several key indicators turning positive.
Crypto analyst Ali Martinez, on May 15, revealed a jump in active addresses, transaction volume, and whale activity for DOGE. According to him, these are all signs that momentum is building. In another post, he noted that whales have scooped up over 1 billion DOGE in the last month alone.
Adding to the optimism, ChainGPT AI , an AI aggregator on X, reported a massive 528% surge in active addresses, reaching 469,000. It also noted that futures open interest jumped 70% to $1.65 billion. According to the AI, with rising demand and renewed ETF excitement, analysts are eyeing a potential move to $0.40. It also pointed out that a bullish inverse head-and-shoulders pattern is forming on the charts, further strengthening the bullish case.
Increased whale activity is particularly important, as it can signal smart money positioning before a price surge. When whales move, retail traders often follow, boosting market momentum and triggering a fear of missing out (FOMO), which can accelerate buying pressure.
At the moment, Dogecoin is trading around $0.22, down slightly by less than 1% in the last 24 hours. But technically, it looks like the coin has already broken out of key resistance zones.
In early May, DOGE broke out of a descending wedge pattern that started last November after the price hit $0.48. The breakout happened on May 10, marked by a strong bullish candle and a spike in trading volume. This is usually a sign that the downtrend has ended and a new uptrend could be about to start.
After the breakout, DOGE pulled back slightly to test the upper boundary of the wedge. If this level holds as support, it would confirm the bullish trend.
DOGE also exited a sideways trading range that began in March. The fact that both breakouts happened around the same time makes the overall move even more convincing.
Momentum indicators support the upward trend. The MACD line is above the signal line, and both are in positive territory, pointing to continued strength. The histogram remains in the green, though the bars are getting smaller, which may hint at a slowdown.
The RSI is currently at 61, indicating there’s still room for the price to climb. Its upward trend also reinforces the positive outlook.
The next major resistance is at $0.30. If DOGE breaks that level, it could target $0.45—a previous local high before the last downtrend began. Some traders, like Trader Tardigrade , expect a short period of consolidation before a final push toward $0.40.
Another analyst, Alts King , believes DOGE is gaining momentum and could reach $0.48 in the near term if the current trend continues.
Looking ahead, $0.40 is a common short-term target among analysts. It could serve as a psychological magnet for Dogecoin’s price as upward momentum builds. Some analysts are even eyeing the $1 mark in the bull cycle. Strong buying pressure and DOGE’s recent performance —surpassing Ethereum and XRP—could both fuel Dogecoin’s next big move.
Peter Schiff Admits Bitcoin Has a Use; As a Hedge Against Saylor’s Strategy
Peter Schiff, one of Bitcoin’s most relentless critics and a staunch gold advocate, surprised crypto enthusiasts by admitting that Bitcoin has a valid use case—just not the kind its supporters might hope for.
In a recent post on X, Schiff pointed out that famed short-seller Jim Chanos is using Bitcoin to hedge his short position against Strategy, the largest corporate holder of Bitcoin.
Schiff noted the irony in this development, adding that Saylor, through his aggressive Bitcoin strategy, has inadvertently created a practical use for Bitcoin, even if it’s one born out of skepticism.
Jim Chanos, known for his bearish takes on overhyped assets, is betting that MicroStrategy’s stock will decline—largely due to its massive exposure to Bitcoin.
Related: Bitcoin (BTC) Price Prediction for May 16
However, to protect himself in case the stock rises due to a surge in Bitcoin’s price, he purchased BTC as a hedge. In Schiff’s eyes, this represents a rare, real-world function for Bitcoin: as a tool to manage risk associated with speculative Bitcoin-related stocks like Strategy.
Bitcoin soared past $100,000 recently, gaining almost 19% in the past 30 days . However, Schiff remains unimpressed, noting that Bitcoin’s price movements remain closely tied to the Nasdaq, undermining the narrative that it has “decoupled” from traditional risk assets.
For Schiff, the current Bitcoin rally is another hype-driven cycle, not a sign of fundamental strength. He is also critical of the growing trend of Bitcoin proxy investments.
Related: Fidelity and Grayscale Lead Outflows as Bitcoin and Ethereum ETFs See Red on May 14
On the other hand, analyst Ali Martinez identified $101,600 as a key support level, while blockchain intelligence firm Santiment reported an average of 309,000 new Bitcoin wallets being created daily over the past month—far outpacing Ethereum, XRP, and Tether.
Strong support for Bitcoin continues to come from Robert Kiyosaki, author of “Rich Dad, Poor Dad.”
Kiyosaki criticized central banking as a form of socialist price control that erodes freedom and promotes economic dishonesty. He encouraged people to opt out of “fake money” and adopt decentralized alternatives.
According to the author , Bitcoin has made it very easy for people to become rich. However, the main reason poor people remain poor is due to “FOMM: Fear of Making Mistakes,” explained Kiyosaki.
“If history is any indicator, the FOMO crowd investing in Bitcoin will accelerate into generational wealth,”
He also indicated that Bitcoin will hit $200,000 and higher based on his expectations from the world’s largest cryptocurrency.
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Solana surpasses all other L1 and L2 chains in 24-hour network revenue
On-chain data showed that Solana generated more 24-hour network revenue than all other L1 and L2 chains combined. On May 13, Solana generated over $7.9 million, followed by Ethereum with around $2.5 million, and Bitcoin generated roughly $647,900 during the same period.
The digital asset outperformed the combined total of all other major blockchains, with over $50 million in weekly revenue from decentralized applications. Solana’s weekly revenue dominated the market with a 51.6% share, more than three times Ethereum’s at 14.2%.
On-chain data showed that Solana’s 24-hour network revenue outshone Ethereum by 3x, Bitcoin by 11x, and Base by 35x. Ethereum had $2.5 million in 24-hour revenue, Bitcoin recorded $647,900, while Base generated roughly $273,700.
Data from DappRadar also revealed that SOL’s weekly dApp trading volume reached $1.61 billion, with its weekly transactions also hitting 138 million. Solana’s meme coin market cap also jumped to over $14 billion.
Price action in SOL, the network’s native coin, touched $180 on Monday before plummeting to around $171, reflecting profit-taking rather than a reversal in trend. At the time of publication, SOL is exchanging hands around $173.3, a 5.42% decrease in the last 24 hours and a 15.19% jump in the last 7 days.
The price briefly touched $184.86 on Wednesday, marking a 25% gain in May, but couldn’t hold and pulled back again. SOL’s price swing on May 14 was attributed to a high-profile announcement by NASDAQ-listed firm DeFi Development, confirming the acquisition of 172,670 SOL worth approximately $24 million.
The company’s move pushed its Solana holdings to 595,988 SOL, valued at roughly $100 million at the time of publication. The firm said it plans to double down on its strategy to acquire Solana as a long-term strategic reserve asset.
The digital asset’s 24-hour trading volume dropped by 21.22% to $4.13B. Crypto’s fifth-largest player also saw a decrease in its market cap by 5.34% to reach $90.16 billion.
Despite the price pulling back, confidence in Solana remains high. The digital asset’s open interest rose to $6.92 billion, the highest level since January, indicating that traders are betting on further gains.
Crypto analyst Ali Martinez revealed that wallets holding at least 0.1 SOL have grown to around 11.04 million over the past two weeks, showing growing adoption and confidence.
The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on a proposed spot Solana exchange-traded fund (ETF) after the initial 90-day period to make a decision expired this week. According to a May 13 filing by the agency, the SEC rescheduled its decision on listing Grayscale’s spot Solana Trust ETF on the New York Stock Exchange (NYSE) to October 2025.
The regulator has also opened a public consultation to analyze the fund’s merits to get approved for listing. Polymarket wagers revealed that the odds of a Solana ETF being approved this year currently sit at 82%.
Other virtual assets like XRP and Litecoin await the SEC’s approval. Bloomberg Intelligence analyst James Seyffart acknowledged on May 5 that the SEC also delayed its ruling on Canary Capital’s Litecoin ETF.
Spot ETFs are considered key drivers of liquidity and institutional adoption for cryptocurrencies. Bitcoin’s U.S. spot ETFs accounted for approximately 75% of new investment after launching, which helped BTC recapture the $50K mark in February 2024, a month after the ETFs debuted for trading.
Ryan Lee, chief analyst at Bitget Research, mentioned that a Solana ETF could increase SOL’s institutional adoption in the long term by offering investors a “regulated investment vehicle” that may still attract billions of dollars in capital.
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