The Crypto Basic

Charles Hoskinson, the #Cardano founder, recently praised the XRP Ledger UNL design, calling it a “well-reasoned system.”
Hoskinson made these comments while speaking in an X Spaces session hosted by XRP community figures and featuring David Schwartz, former Ripple CTO and one of the original architects of the XRPL.
Key Points
Charles Hoskinson thanked Schwartz for helping Cardano engineers during the Midnight glacier drop.The Cardano founder confirmed reviewing the XRP UNL system and called it a “well-reasoned system.”The UNL system lets nodes choose trusted validators and maintain consensus.Despite a disagreement on smart contracts, David Schwartz admitted that they remain especially useful.
Cardano Founder Expresses Gratitude to David Schwartz
During the discussion, Hoskinson mentioned his long history with Schwartz, noting that both of them have been active in the crypto space for many years. He pointed out that only a few early participants remain today, which made it meaningful to reconnect.
The Cardano founder then took time to thank Schwartz for helping during Cardano’s glacier drop for Midnight. He explained that the XRP Ledger was one of the networks used, and Schwartz personally joined several calls with Cardano’s engineers to guide them through how to work with XRPL.
Hoskinson Praises XRP UNL System
Hoskinson went on to describe how working through the glacier drop process gave his team a chance to explore different blockchain designs.
He said the experience was both challenging and enjoyable. He also admitted that he had not really looked closely at XRP since around 2013 or 2014 and had never fully broken down its consensus system until now.
As part of that review, he mentioned a paper from around 2018. The Cardano founder explained that he was trying to understand how XRPL handles Byzantine agreement, focusing on how the system stays secure and continues to function smoothly under different conditions.
He called the Unique Node List a clever idea for managing trust between validators. According to him, the use of negative UNLs, which temporarily remove inactive or unreliable validators, helps the network keep running properly.
“The whole UNL concept is pretty nifty, especially if you have negative UNLs to achieve liveness again. So, there were some nice things there, and it’s just a well-reasoned system for what you guys put together,” Hoskinson said.
How the XRPL UNL System Works
The Unique Node List (UNL) is a major part of how the XRP Ledger works. It is a list of trusted validators that each server chooses, based on the assumption that those validators will not act together in a dishonest way. When a server takes part in consensus, it only listens to validators on its UNL and ignores others.
This approach supports XRPL’s Byzantine Fault Tolerant consensus model, which does not rely on Proof-of-Work or Proof-of-Stake. Each node operator can choose their own UNL, selecting independent validators such as organizations or individuals to reduce the risk of coordinated failure.
In practice, most operators rely on shared lists, including the dUNL provided by the XRPL Foundation. This creates an overlap between nodes, which helps the network stay stable and avoid splits. The system also includes a negative UNL feature that can temporarily exclude validators that go offline or stop working properly.
Discussions Around Smart Contracts
Despite his praise, Hoskinson pointed out that he and the XRP team still disagree on smart contracts. He made it clear that this difference remains, but he still respects how far the XRP ecosystem has come.
Schwartz responded by saying the disagreement may not be as large as it seems. He explained that smart contracts on layer-1 have clearly proven useful, as many people use them today. While more advanced ideas may exist, he said those systems have not been built yet, often because they are difficult to develop.
The former Ripple CTO stressed that he prefers solutions people can actually use now and said he likes projects like Midnight that focus on practical use.
#CryptonewswithJack

Analysis has identified the #XRP bull-bear line and how it would define the asset’s price trajectory amid consolidation within a long-term structure.
The analysis focuses how XRP has continued to defend one of its most important long-term technical patterns. Beyond the noise, it suggests the prominent altcoin could be poised for massive expansion if key levels continue to hold.
Key Points
The 21 EMA on the 2-month timeframe is the defining line between a continuing XRP bull cycle and a broader macro breakdown.XRP has spent an extended period compressing within a multi-year ascending triangle.The real confirmation is in reclaiming the key resistance range between $2.40 and $3.36.The possible expansion path targets the $7 to $13 range if XRP successfully breaks above overhead resistance.
XRP Bull-Bear Line
Specifically, the commentary by market analyst EGRAG Crypto highlighted the 21-period exponential moving average (EMA) on the 2-month timeframe as the defining line between a continuing bull cycle and a broader macro breakdown.
Despite persistent volatility and repeated pullbacks since the July 2025 all-time high of $3.6, the broader bullish picture remains intact. XRP still trades above the 21 EMA trendline on the 2-month timeframe while preserving a pattern of higher lows that has held for several years.
Additionally, XRP has spent an extended period compressing within a multi-year ascending triangle. The coin entered this triangle in 2017 and has since made higher lows but has faced persistent resistance around the $3.36 level.
According to the analysis, this prolonged compression phase, while maintaining key support levels, resembles setups seen before large cyclical expansions in other major assets, such as Tesla (TSLA).
Key Confirmation Level
Currently, XRP continues consolidating beneath the key resistance range between $2.40 and $3.36. EGRAG highlighted that the real confirmation is in reclaiming this level, which is 68% to 135% above the current market price of $1.43.
Reaching this level would push the coin closer to a breakout of the multi-year resistance, setting the stage for a massive price expansion.
Moreover, the analyst claimed that there is a 40-50% chance that XRP has bottomed at $1.12 in February. This leaves a 50-55% chance of a final capitulation, potentially retesting the structure’s ascending support trendline near Binance’s lowest wick at $0.77.
Room for a Larger XRP Expansion
EGRAG outlines a possible expansion path toward the $7 to $13 range if XRP successfully breaks above overhead resistance. At the current market standing, this would result in increases of 390% and 809% to these price levels.
Meanwhile, the chart also references a more aggressive long-term projection above $200. However, the analyst stresses that such a scenario would not depend solely on technical structure and would likely require a full liquidity cycle across the broader crypto market. The move culminates in an ambitious 13,886% growth.
For now, the primary focus remains on whether XRP can continue defending the 21 EMA on the 2-month chart while reclaiming the $2.40 to $3.36 resistance region.
#CryptonewswithJack

Ripple ex-CTO David Schwartz has clarified that the XRP Ledger’s consensus model was never designed around #XRP staking or validator rewards.
Instead, XRPL relies on what he described as “shareholder choice” to maintain consensus and prevent double spending.
The comments came after Schwartz resurfaced a six-year-old presentation titled The Best Incentive is No Incentive. In it, he explained why the XRP Ledger was built without mining or staking incentives.
Key Points
David Schwartz said XRPL consensus was built on user trust choices, not XRP staking or validator rewards.XRPL users maintain consensus by voluntarily choosing trusted validators and software implementations.Schwartz argued that mining and staking rewards can increase centralization and profit-driven behavior.XRPL avoids mining and staking to support low fees, fast payments, and reduced validator power.
XRPL’s “Stakeholder-Chosen Scarcity”
Responding to the video, an X user asked Schwartz about his statement that XRPL uses “stakeholder-chosen scarcity” instead of proof-of-work or proof-of-stake. The user asked whether XRP itself was the scarce resource being chosen, especially since XRPL does not use staking.
Schwartz responded that XRPL’s consensus is not based on locking up XRP or financially rewarding validators. Instead, the network depends on users voluntarily agreeing on which validators they trust to order transactions and prevent double spending.
He added that, in practice, this mostly happens “invisibly” through users choosing software implementations and validator lists maintained by groups they trust.
Why Schwartz Opposes Artificial Incentives
In his Stanford presentation, Schwartz argued that blockchain systems work best when they minimize artificial incentives like mining rewards or staking yields.
He described Bitcoin miners and proof-of-stake validators as “artificial stakeholders”. In his view, their main motivation is to maximize profits rather than to protect the network itself.
Schwartz stressed that these incentives can create centralization pressures as participants naturally compete to reduce costs, gain scale, and extract higher rewards.
He compared these participants to what he called “natural stakeholders” — users who actually depend on the network for payments, trading, liquidity, or storing value.
Schwartz believes these users already share the same goal: keeping the network secure, fast, cheap, and reliable.
XRP Ledger Was Designed to Minimize Validator Power
Meanwhile, Schwartz said the XRP Ledger was specifically designed to reduce the operational power of validators. It also removes many of the incentives that commonly exist in other blockchain systems.
Unlike proof-of-work networks, XRPL does not have mining competition, block reorganizations, or large pools of unconfirmed transactions waiting to be prioritized for profit. Validators mainly focus on agreeing on transaction order using fixed rules.
According to Schwartz, this design reduces the chances of censorship or manipulation because validators have fewer ways to profit from attacking the network.
He also said that avoiding mining and staking rewards helps XRPL maintain low fees, fast transaction speeds, decentralized exchange features, multisigning, payment channels, and pathfinding payments.
Debate Around Consensus Continues
Schwartz’s comments come as debates in the crypto industry continue over decentralization, validator rewards, and blockchain governance. Many newer blockchains now use proof-of-stake systems, while Bitcoin still relies on proof-of-work mining.
XRPL remains one of the few major blockchain networks that operates without mining or staking rewards. Instead, it relies on trusted validators and community coordination.
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Former Ripple CTO David Schwartz claims blockchain systems may work better without incentives, arguing against reward-based models.
Schwartz believes incentives like mining and staking introduce unnecessary costs and misaligned interests. According to him, users already have a natural motivation to keep systems working, and removing artificial rewards can lead to cheaper and fairer blockchain networks.
Key Points
David Schwartz recently revisited a March 2020 talk based on ideas he first developed in 2012.He said blockchains need agreement on transaction order, not costly incentives, to solve the double-spend problem.According to him, mining and staking make participants seek higher rewards when users want lower fees.Incentive systems drive centralization, as participants with lower costs or higher capital gain dominance.The XRP Ledger removes incentives, relying on simple rules and user interest to maintain fairness and low costs.
Solving the Double-Spend Problem
Notably, Schwartz discussed these ideas during a March 2020 presentation, which he recently revisited, imploring the crypto community to watch. In that talk, he explained that blockchain systems may work better when they remove artificial incentives entirely.
His argument centered around the need to solve the double-spend problem. Notably, for any network like Bitcoin to function, users must reach a point where everyone agrees that a transaction has happened. Without this shared agreement, people cannot safely exchange goods or services for digital assets.
Schwartz pointed out that blockchains already have three important features: a public record of all data, clear rules for what makes a transaction valid, and a shared understanding of what each transaction does.
However, he said these are not enough on their own, especially when there are multiple valid ways to move forward, such as sending the same asset to different people.
Natural and Artificial Stakeholders
Speaking further, the former Ripple CTO suggested that blockchain ecosystems have two types of stakeholders: the natural and forced ones.
According to him, natural stakeholders are users who depend on the system for real needs, such as making payments or storing value. Forced stakeholders, like miners, exist only because the system design requires them.
He argued that forced stakeholders take value from natural users, creating extra cost in the system. For example, Bitcoin miners earn rewards and fees, but the money comes from users who want their transactions processed. This creates a conflict: users want low fees, while miners benefit from higher ones.
He compared this to platforms like eBay, where the company charges fees to buyers and sellers. To him, blockchain systems were meant to reduce this kind of friction, not repeat it in a different form.
The Cost of Proof of Work
Building on this premise, Schwartz raised concerns about proof-of-work systems, especially their high cost. He explained that Bitcoin needs to generate millions of dollars every day just to keep mining running, which ties the network’s security to its market value.
According to him, honest participants must spend more to protect the system than attackers might need to break it. He sees this as a weakness. Schwartz also noted that much of this money leaves the ecosystem and goes to electricity providers and hardware makers.
He added that mining creates a “race to the bottom,” where miners must cut costs to survive. This pushes them to focus on short-term profit instead of improving the network. Over time, mining also becomes concentrated in areas with cheap power, which weakens decentralization.
Staking and Similar Incentive Models
Schwartz also questioned staking and slashing systems, which networks like Ethereum have explored. He said locking up a volatile asset comes with risk, so participants expect high rewards in return. This limits how much cheaper these systems can be compared to proof of work.
He pointed out that staking depends on native tokens, and this creates challenges for networks that handle large amounts of other assets, such as ERC20 tokens. Just like mining, staking can lead to competition that pushes the system toward centralization.
He also mentioned tax issues, since some countries treat staking rewards as income. Notably, this adds another cost for users and supports his view that incentive-based systems place extra burdens on participants.
The XRP Ledger Approach
Pointing out the decisions made in 2012, Schwartz explained how the XRP Ledger takes a different path. Specifically, it reduces the power of any single participant and removes features like transaction reordering that could be abused.
Instead, the system uses rules to decide which transactions to include and focuses on simply agreeing on their order. Schwartz said this process does not need expensive incentives because users already want the system to work properly.
He also explained that the XRP network limits the influence of bad actors and allows users to ignore them without losing anything. Since no one can profit from controlling the system, there is less reason to try to attack it.
Why “No Incentive” May Work Better
Schwartz concluded that artificial incentives bring more problems than benefits. Specifically, they can lead to centralization, create conflicts of interest, and increase costs for users.
On the other hand, systems based on natural incentives rely on users who already want the network to succeed. He called attention to Bitcoin full nodes as an example, where people support the network without direct payment.
He believes networks can offer lower fees, faster transactions, and better fairness by just removing incentives. In the end, he argued that users want systems that are reliable and affordable, not ones plagued by competition for rewards.
#CryptoNewsFlash

Analyst Celal Kucuker has shared a bullish long-term chart for #XRP , arguing that the asset could eventually break into double-digit price levels.
The promising outlook is based on a large cup-and-handle formation developing on the weekly timeframe. Notably, the analysis comes at a time when XRP’s bullish momentum is regaining steam. The coin recently touched the elusive $1.50 level before dipping below it.
Key Points
XRP shows a bullish cup-and-handle pattern, with analysts eyeing a potential breakout toward higher levels.Key resistance sits at $1.74 and $3.65, with a Fibonacci extension pointing to a long-term $12.10 target.XRP has rebounded from $1.11 lows and is consolidating near $1.45 after briefly testing $1.50 resistance.Analysts expect a breakout if momentum holds, with short-term targets near $2 and possible new ATH above $4.
Analyst Sees Cup and Handle Breakout
In a post on X, Kucuker described the current setup as “the best XRP chart”. The comment highlighted a technical formation that suggests XRP may revisit the 1.618 Fibonacci extension level near $12.10 before the cycle ends.
The chart shows XRP forming a large cup-and-handle pattern after its breakout rally in late 2024. The rounded bottom structure, followed by a downward-sloping consolidation phase, is a well-known bullish setup.
According to the analysis, XRP now appears to be recovering from the handle portion of the pattern. Notably, the coin’s price dipped approximately 70% from its $3.65 peak, falling to $1.11.
XRP has since rebounded from that low, touching $1.50 a couple of times before facing resistance. Kucuker’s analysis suggests that if momentum continues, the asset could enter a stronger breakout phase over the coming months.
Key XRP Levels to Watch
Kucuker’s chart outlines several major Fibonacci levels that traders may monitor during XRP’s next move.
The first key resistance level sits around $1.74, which aligns with the 0.618 Fibonacci retracement zone. Above that, the next major level appears near $3.65, an important breakout point and its previous cycle peak.
The analyst suggests that overcoming this stubborn resistance would open the door to a double-digit XRP price. Specifically, he points to the 1.618 Fibonacci extension, which aligns with the $12.10 price level as the long-term target.
The projected move from the current range to that level represents a gain of more than 225%, based on the chart’s measurement.
At the time of writing, XRP was trading around $1.45. The cryptocurrency has gained 1.87% over the past seven days and nearly 9.83% over the last month.
What Other Analysts Are Saying
Several other analysts also believe, based on various technical observations, that XRP is set for a new breakout.
Trader Michael XBT recently predicted that XRP’s “parabola will begin any day now” and that a new all-time high is likely this year. He pointed to XRP’s tightening price structure as a sign of an imminent breakout.
His chart suggests XRP could first move toward $2 before pushing higher later in the cycle. XRP was trading around $1.41 at the time, after weeks of consolidation near $1.30.
Responding to criticism that a return to $1.80 would not be impressive compared to XRP’s previous $3.65 peak, Michael said a new all-time high above $4 is likely this year, implying nearly 3x upside from current levels.
The analyst believes many traders are too focused on Bitcoin and are ignoring XRP’s setup. He says the key resistance zone is between $1.80 and $2, with a breakout above that range potentially opening the door to $3 and a new price discovery phase.
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Blockchain analytics platform Santiment has confirmed that #XRP wallets holding at least 10,000 coins have reached a new all-time high above 332,000.
The milestone comes despite XRP’s current price struggles amid a weak crypto market. Specifically, the XRP price has declined by more than 20% this year alone, building on the downtrend that began in Q4 2025, but large holders continue to add to their positions.
Key Points
XRP wallets holding at least 10,000 coins reached a record 332,230 addresses.Wallets holding between 10,000 and 100,000 XRP formed the largest group with 300,260 holders and drove most of the growth.XRP addresses with 10 million to 100 million coins increased from 285 to 311 addresses.Whale wallets added 920 million XRP, raising combined holdings to 11.79 billion XRP.
XRP Wallet Count Climbs to New Record
Santiment confirmed this in a recent analysis shared on X. Specifically, the market intelligence platform revealed that the XRP Ledger had reached a record 332,230 wallets holding at least 10,000 XRP. The firm noted that this growth trend has continued since June 2024.
According to Santiment, the rise in these larger wallets is an important long-term sign because it shows that bigger holders have continued buying XRP despite the current market uncertainty and price swings.
Santiment explained that growing numbers of mid-sized and large wallets typically indicate stronger investor confidence. Notably, these holders usually focus more on long-term positioning instead of reacting to short-term price movements.
Santiment also pointed out the sharp drop in XRP wallets holding at least 10,000 coins between Feb. 6 and Feb. 8. During this period, the network lost more than 4,500 wallets from this category. However, the firm said it did not find any confirmed XRP-specific event directly linked to the decline.
Instead, Santiment mentioned the broader crypto market crash and liquidation wave that hit the market on Feb. 5 as the possible culprit. Wallet growth has since recovered and moved beyond the losses recorded during that correction.
Retail Holders and Whales Lead Wallet Growth
Meanwhile, chart data shows that only a few hours after Santiment released its analysis, the number of qualifying wallets increased again. At press time, the total had risen from 332,230 to 332,253 wallets, adding another 23 addresses.
The chart also confirms that wallets holding at least 10,000 XRP fall into six separate categories. The largest group includes wallets holding between 10,000 and 100,000 XRP, with 300,260 holders. Addresses with 100,000 to 1 million XRP rank second with 29,985 holders. Meanwhile, wallets containing between 1 million and 10 million XRP total 1,498 addresses.
Data from the chart further reveals that three additional whale categories contain wallets with at least 10 million XRP. Together, these three groups account for just 507 wallets despite holding much larger XRP balances.
Among the six wallet categories, two groups drove most of the recent increase that pushed the total wallet count to a new all-time high. These included retail wallets holding between 10,000 and 100,000 XRP and whale wallets holding between 10 million and 100 million XRP. However, the retail holders contributed the most.
Specifically, wallets holding between 10,000 and 100,000 XRP grew from 294,690 in early February 2026 to 300,260 at press time. This increase added over 5,500 new addresses within three months.
Meanwhile, wallets holding between 10 million and 100 million XRP increased by only 26 addresses, rising from 285 wallets in mid-February to 311 today. The remaining wallet groups either declined slightly or stayed unchanged during the same period.
XRP Whale Balances Grow Faster Than Retail Holdings
Although retail holders accounted for most of the wallet growth, whales accumulated much more XRP in total value. Data from the chart shows that wallets holding between 10 million and 100 million XRP increased their combined balance from 10.87 billion XRP in mid-February to 11.79 billion XRP today.
This increase represents an additional 920 million XRP accumulated over the period. The sharp rise in balances suggests that large holders continued building positions despite ongoing market uncertainty and XRP’s weaker price performance throughout early 2026.
Retail wallets holding between 10,000 and 100,000 XRP also increased their balances, though at a slower pace. Their combined holdings rose from 7.78 billion XRP in early February to 7.9 billion XRP at press time. Essentially, these wallets accumulated another 120 million XRP during the same timeframe.
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#XRP ETFs recently recorded their largest single-day net inflow since early January, representing the second-largest figure for the year.
The latest performance comes on the back of an XRP price rebound effort, as the altcoin leverages the broader market recovery push to reclaim and hold above the $1.45 mark, up 6.87% this month.
Key Points
XRP ETFs saw $25.8 million worth of net inflow on May 11.This figure marks the products’ largest single-day capital inflows since Jan. 5, and the second largest this year.Funds from Bitwise, Franklin, and Grayscale were responsible for the impressive showing.The latest performance brought total monthly net inflow to $60 million for May.XRP ETFs now boast total cumulative net inflows of $1.35 billion, pulling in $184 million this year alone.
XRP ETFs Record $25M in Intraday Flow
Data from market analytics platform Sosovalue confirms the recent bullish performance, as XRP ETFs begin the new week strong after pulling in $34.21 million last week. Specifically, these funds saw $25.8 million worth of capital inflows on May 11.
This figure marked their highest single-day net inflow since January, confirming that interest in the ETF products has returned in a strong way after their underperformance in March 2026.
In addition, the recent performance represents their second-largest intraday net inflow figure this year, only behind the $46.1 million posted by the funds on Jan. 5. Interestingly, this Jan. 5 performance came on the back of XRP’s initial price upsurge at the start of this year, which led to the $2.41 yearly peak.
On Track to Surpass April Record
The May 11 figure builds on an impressive momentum that began in April and spilled into May. Notably, after seeing $31.16 million worth of net outflows in March 2026, marking their first bearish month, the XRP ETFs began a rebound campaign in April.
In April, these products saw $81.59 million in capital inflows, recovering the losses from March and posting an additional $50 million rise. This marked the ETFs’ best monthly performance for this year, surpassing the previous record of $58.09 million from February 2026.
With just two weeks into May, the XRP ETFs have already recorded $60 million in capital inflows, led by the recent $25.8 million figure from May 11. If the funds continue with the current pace, they could be on track to surpass the April record of $81 million, with just $21 million left across two weeks.
Franklin, and Grayscale Lead the Charge
Meanwhile, further data confirms that the latest intraday milestone was driven by three of the five existing spot XRP ETFs. Specifically, the Franklin XRP ETF (XRPZ) pulled in the largest figure at around $13.62 million, its best intraday performance this year.
The Bitwise XRP ETF (XRP) came second with $7.59 million worth of capital inflows on May 11. As for the Grayscale XRP ETF (GXRP), the product saw $4.59 million in net inflows. The other two products, Canary Capital’s XRP ETF (XRPC) and 21Shares XRP ETF (TOXR), recorded zero flows.
Following the latest performance, the XRP ETF products now boast $1.35 billion worth of total cumulative net inflows, having pulled in $184 million this year alone despite XRP’s price struggles. This figure initially dropped to $1.21 billion in March but has since continued to recover.
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A new market analysis from CryptoQuant contributor Darkfost suggests that the overheated derivatives market in #Ethereum may finally be cooling down.
This could set the stage for a more stable move higher if spot demand returns.
Key Points
Ethereum derivatives are cooling; leverage dropped, which may stabilize price action near the $2,450 resistance level.ETH has traded between $2,250–$2,450 after a 33% rebound, with open interest rising about $4.5B during the rally.Funding rates have flipped positive, showing traders are now more bullish after a period of bearish positioning.Analysts say the market needs spot demand for a breakout, while Bitcoin leads with stronger institutional inflows than ETH.
ETH Price Rebounds 33%
According to Darkfost, Ethereum has spent nearly a month trading between $2,250 and $2,450 after rebounding roughly 33% from its February lows. During that recovery, derivatives activity surged aggressively, with open interest climbing by around $4.5 billion.
One of the clearest signs of that speculation buildup came from Binance’s Estimated Leverage Ratio, which peaked at 0.76 on March 16. The metric tracks how much leverage traders are using relative to exchange reserves. Rising levels often signal elevated risk and volatility.
However, Darkfost noted that the leverage ratio has now dropped sharply to 0.57, just as ETH again tests the important $2,450 resistance level.

Leverage Decline May Reduce Market Volatility
The analyst argued that the decline in leverage is not necessarily bearish for Ethereum. Instead, it may help stabilize the market during a crucial phase for price action.
Two major factors contributed to the drop in leverage usage on Binance. First, many long positions opened in anticipation of a breakout were quickly closed after ETH pulled back toward $2,350. Second, short positions that had accumulated earlier were either closed voluntarily or liquidated during the rally.
Interestingly, the earlier rally occurred while funding rates stayed mostly negative. This implies that many traders remained bearish despite ETH climbing higher.
That trend has now changed. Funding rates have recently turned largely positive, indicating that long traders have regained control of positioning across the derivatives market.
Spot Demand as Key to Ethereum Breakout
Despite improving conditions in the futures market, Darkfost emphasized that derivatives alone may not be enough to push Ethereum into a sustained breakout.
The analyst said spot demand will likely need to take over for ETH to decisively break above its month-long range and move beyond the $2,450 resistance zone.
In other words, Ethereum’s current structure suggests traders remain cautious. Yet the reduction in excessive leverage could create a healthier environment for a larger directional move if buying pressure strengthens.
Bitcoin Leading Market Moves Now
Notably, an analysis by XWIN Research last week found that Bitcoin’s recovery since April was based on strong institutional demand. It posted over 11% gains, while Ethereum lagged with a 7.28% gain.
XWIN Research noted that Bitcoin’s rally from U.S. institutional buying, including over $4 billion from Strategy and $1.197 billion in ETF inflows led by BlackRock. However, Ethereum saw weaker demand, such as $356 million in ETF inflows compared to Bitcoin’s nearly $3 billion.
The report suggests that capital is becoming more selective, favoring assets with strong demand like Bitcoin, while Ethereum and altcoins may need sustained inflows to keep pace.
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#XRP currently trades within two Elliott Wave structures, and its ultimate price target would depend on which structure it actually follows.
This comes as the XRP price recovers above the $1.45 amid a broader market-wide upward push. Notably, after dropping to $1.34 on April 29, XRP engineered a rebound push which has since taken the price to $1.455 at press time, hinting at possible further upside to new highs.
Key Points
XRP has recovered more than 8% from the April 29 lows of $1.34, now on an upward path.In this upward path, XRP trades within two distinct Elliott Wave structures on the weekly chart. XRP’s ultimate target in the upward path depends heavily on which of the Elliott Wave structures it eventually follows.The first structure began in June 2022, and Wave 5 could end during this cycle at $14.The second structure started in late 2024, and Wave 5 could conclude years later at $42.
XRP Within Two Elliott Wave Structures Amid Recovery
CryptoInsightUK, a well-known market technician, discussed XRP’s current position in a recent analysis on the back of the latest recovery push. Specifically, the XRP price has rebounded alongside the broader crypto market, which has added $200 billion in market cap since the April lows.
Riding on this wave, XRP has reclaimed the $1.45 mark, up 8.2% from the April 29 low of $1.34. Due to this uptrend, XRP recorded a 6.13% gain last week, marking its largest weekly rise in two months. Despite a mild 1.08% pullback this new week, XRP has maintained the $1.45 mark, currently trading for $1.4573.
Interestingly, CryptoInsightUK’s chart shows that, amid the uptrend, XRP currently trades within two different Elliott Wave structures. According to him, there is the possibility that either of the two structures would guide XRP’s price action. However, uncertainty remains.
XRP Targets for Each Structure
For context, the first Elliott Wave structure began after XRP started recovering from the 2022 bear market lows in June of that year.
Specifically, Wave 1 ended when XRP hit a high of $0.93 in July 2023, while Wave 2 concluded at a low of $0.3834 in July 2024. Meanwhile, Wave 3 pushed prices to $2.9 by December 2024, and Wave 4 resulted in a pullback to the current position.
If XRP follows this structure, it is on the verge of entering an impulsive Wave 5 upsurge once the current Wave 4 concludes. Data from the chart shows that this Wave 5 could take XRP to a range of $12 to $14.5, marking the end of the structure.
However, the second structure began when XRP rallied from $0.5 in November 2024 to $3.4 by January 2025. This upsurge marked Wave 1. Meanwhile, Wave 2 began as XRP corrected from the $3.4 peak and has continued till now.
If XRP is following the second structure, then the anticipated recovery from the current correction would mark its Wave 3 push, potentially leading to $14. However, after this, XRP could pull back during Wave 4 to just above $5 before rebounding toward $42 in Wave 5.
Essentially, for the short term, XRP could target $12 to $14 either in Wave 3 or Wave 5, depending on the structure it follows. As a result, CryptoInsightUK confirmed he would likely reduce his exposure once XRP hits the $8 to $12 range.
#CryptoNewsFlash

#Bitcoin has risen above the $80K mark amid an 8% price increase, but the latest uptrend lacks strong USDT minting.
The recent Bitcoin (BTC) recovery shows a change in market structure, with price gains continuing despite weaker USDT minting. This suggests stronger real demand from existing liquidity, though it may limit rapid price spikes.
Key Points:
Bitcoin has climbed 8.22% in 12 days from $74,912, holding above $80K.Data shows these recent price gains occurred without major USDT minting, unlike earlier rallies.Earlier cycles relied on liquidity injections, while the current move appears driven by spot demand from existing liquidity.This suggests a healthier structure but may lead to slower, less explosive price increases.Key levels include $80K support and resistance around $82K-$85K.
Bitcoin Holds Above $80K After April Rebound
Verified CryptoQuant analyst Maartunn was first to highlight this trend as BTC extends its gains. For context, Bitcoin has made a steady comeback after dropping to $74,912 on April 29, moving into an uptrend defined by higher highs and higher lows.
Over the past 12 days, the asset has risen 8.22% from those April 29 lows, even though a recent pullback caused a 1.58% drop today. Despite this slight dip, Bitcoin remains above the $80,000 mark, trading at around $81,070 at press time.
Bitcoin 1D Chart
Amid the uptrend, Maartunn observed that earlier rallies over the past two weeks were supported by large USDT minting events, but the price gains from the last few days have happened without similar levels of minting.
“Something’s different this time,” Maartunn said. He pointed out that earlier price increases relied on strong USDT issuance, while recent activity shows much lower minting.
What the Data Shows About the Current Rally
Data from the chart shows that from late 2024 through much of 2025, strong price increases often matched large spikes in USDT minting. These minting events usually happened just before or during price jumps, suggesting that fresh liquidity helped push prices higher.
In contrast, the recent period shows a different situation. Notably, as Bitcoin rose from $75,000, this upsurge occurred with large USDT minting seen at the beginning of the rally two weeks ago.
Essentially, in earlier rallies, price growth depended heavily on liquidity. Newly minted USDT would enter exchanges and be used to buy Bitcoin, pushing prices up. Now, the rally is continuing without that strong inflow of new stablecoins.
This suggests that the current move is being driven by other factors, such as existing capital within the market, stronger spot buying, and possibly less selling pressure.
Why This Change Is Important
This could be a positive sign for the market. When prices rise without heavy reliance on USDT minting, it often means the demand is more natural and stable. This can support a stronger and more lasting trend because the market is not dependent on constant liquidity injections.
At the same time, there is a downside. Specifically, without strong minting activity, it may be harder for Bitcoin to make sharp, fast moves upward. Instead, the market may continue to rise slowly, with regular pullbacks like the current 1.58% decline.
Key Levels and Analyst Views
From a technical view, $80K remains an important support level, while the $82K-$85K range acts as a key resistance zone. A move above this range would confirm that the uptrend is continuing. Events like new USDT minting, exchange inflows, and stablecoin balances could also influence the market direction.
Analyst Javon Marks believes the market still has room to grow. He says Bitcoin has shown strong performance since its breakout and may still be in the early stages of a bigger rally. He expects a possible 53% rise to about $124,697.
Another analyst, Ali Martinez, points to the 200-day simple moving average at $82,500 as an important level to watch. If Bitcoin breaks above it, the price could move toward $94,000. If it fails to break through, the price may drop back to test the 50-day SMA at $75,000.
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