XRP Forms Bizarre Candle, PEPE Inching Closer to Flipping Shiba Inu, BlackRock Discloses New Position in IBIT: Crypto News Digest by U.Today
Release: 2024/11/16 03:59 Reading: 457
Top Crypto News of the Day
Bizarre XRP Price Candle: What's Occurring?
The XRP/USDT chart reveals a recent "spinning top" candle, indicating market uncertainty and potential trend reversal. After breaking resistance levels and reaching highs near $0.72, XRP may experience a pullback. To sustain its upward momentum, it must remain above critical support at $0.60. If XRP falls below $0.60, it could retrace towards $0.55. For an upward trend, it must surpass $0.72, potentially testing resistance levels between $0.75 and $0.78. Currently, XRP trades at $0.86, up 21.08% in the last 24 hours (CoinMarketCap).
Pepe Coin Approaches Shiba Inu in Popularity
The PEPE meme coin recently reached a market capitalization milestone of $10 billion. It peaked at $0.00002457 before settling at $0.00002346, an impressive 86% increase in the last 24 hours. The surge followed Coinbase's listing announcement and Robinhood's availability for U.S. users. Pepe's market cap of $14.2 billion is approaching Shiba Inu's $9.1 billion. Despite being the first meme coin to surpass Dogecoin, SHIB has lost momentum, down 70% from its 2024 high. In contrast, Dogecoin boasts a strong performance with a current market cap of $54.6 billion.
BlackRock Invests in Bitcoin Trust ETF
BlackRock, the world's largest asset manager, has acquired 2,535,357 shares of the iShares Bitcoin Trust ETF (IBIT), totaling $91.6 million. IBIT attracted $230 million in inflows on Wednesday. Bloomberg's Eric Balchunas noted a record-breaking $5 billion daily trading volume for IBIT. BlackRock's IBIT now approaches $30 billion in inflows and boasts total assets of $42.56 billion. It surpassed $40 billion in just 211 days, setting a new record. BlackRock also shows interest in the iShares Ethereum Trust ETF (ETHA), with $35.63 million in inflows, though significantly less than IBIT.
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