- A mysterious whale on Robinhood purchases 1.75 trillion SHIB tokens, sparking intrigue in the cryptocurrency market.
- Ripple Labs transfers 800 million XRP into an escrow wallet to stabilize the circulating supply.
Yesterday, a mysterious whale identified as -4D935 made a substantial purchase of 1.75 trillion SHIB tokens on Robinhood, withdrawing them in two transactions. This acquisition, valued at $39.2 billion, has drawn attention to the SHIB market.
🚨 875,000,000,000 #SHIB (19,666,682 USD) transferred from #Robinhood to unknown wallethttps://t.co/hxSvwFxC0E
— Whale Alert (@whale_alert) May 1, 2024
Crypto trader Ali Martinez observed a bullish signal on SHIB’s daily chart, predicting a potential breakout to $0.000072323 and strategically placing buy orders accordingly. Presently, SHIB is trading at $0.00002405, showing a 7.15% increase over the past 24 hours.
#ShibaInu appears to be forming a bull flag on the daily chart! I'm placing buy orders around $0.000018343, aiming for a bullish breakout that sends $SHIB to $0.000072323.
So, if you want to join me in this trade, head to @coinexcom and sign up using my referral link… pic.twitter.com/er1gE0lozV
— Ali (@ali_charts) May 1, 2024
In an attempt to rebalance the circulating supply of XRP, Ripple Labs transferred 800 million XRP into an escrow wallet. Despite this action, XRP’s price saw only a modest 4.61% increase to $0.5126 in the last 24 hours.
🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 🔒 500,000,000 #XRP (258,724,981 USD) locked in escrow at #Ripplehttps://t.co/gOe8fT1VvW
— Whale Alert (@whale_alert) May 1, 2024
However, this move failed to fully recover losses from the previous week, as XRP remains down by 2.04% over the past week and more than 14% over the past month. Currently, XRP is trading at $0.524, registering less than a 1% increase in the last 24 hours.
Notice on this shorter-term #Bitcoin chart that $60K, which was support has become resistance. Bitcoin is forming a short-term, head-and-shoulders top, with the head just under $60K, the shoulders around $58.5K and the neckline just below $57K. The downside objective is $54K. pic.twitter.com/fkDHBSmyq2
— Peter Schiff (@PeterSchiff) May 2, 2024
Renowned gold advocate Peter Schiff has set a new bearish target for Bitcoin, identifying $54,000 as the next downside objective. Schiff highlighted a bearish head and shoulders pattern forming, with the “neckline” positioned just below $57,000. He emphasized the juncture for Bitcoin, suggesting that a breakdown below $60,000 could spell trouble for the asset.
I pointed this chart out a week ago. #Bitcoin has since fallen into the danger zone. Now it's do or die. If Bitcoin breaks down below $60k Katie bar the door. https://t.co/C14RNwvGOZ pic.twitter.com/H1LbfrrXP7
— Peter Schiff (@PeterSchiff) April 30, 2024
Recent statements from Federal Reserve Chairman Jerome Powell briefly pushed Bitcoin’s price above $59,000. Presently, Bitcoin is trading at $61,715, showing a 5.84% increase in the last 24 hours.
