Ripple Sensationally Rebrands ODL Service, Ultra Bullish Divergence Found on Important BTC Index, BlackRock Rumored to Shift Its Focus to XRP: Crypto News Digest by U.Today
U.Today has summarized the top three news stories over the past weekend, take a look!
Ripple sensationally rebrands ODL service: Details
As has been spotted by some Ripple enthusiasts, the San Francisco-based fintech giant removed the section about on-demand liquidity (ODL). The move was explained by Ripple Vice President Emi Yoshikawa. In her statement from Sept. 15, 2023, Yoshikawa clarified that the company decided to "consolidate" ODL services under the term "Ripple Payments," as the term ODL might be "difficult to understand at first glance for outsiders." ODL mechanisms will function as usual despite this unexpected "rebranding," the VP added.
Ultra bullish divergence found on important Bitcoin (BTC) index
In a recent post, crypto analyst Ali Martinez highlighted an interesting trend in Bitcoin, particularly a notable surge in new BTC addresses despite the flagship crypto continuing to consolidate around $26,000. From an on-chain perspective, this development is seen as a strong bullish divergence. As such, the number of addresses holding 0.1 or more BTC and the number of nonzero Bitcoin addresses have scored all-time highs, reaching 4,487,486 and 49,138,848, respectively. These statistics indicate rising interest and participation among investors in the Bitcoin market.
Alex DovbnyaNo, BlackRock is not buying XRP
BlackRock, the world's largest asset manager, has recently been rumored to shift its crypto focus from Bitcoin to XRP. It seemed to have started with a post by fake news account WallStreetBulls, in which a "shift in institutional confidence towards more sustainable and efficient digital assets" was mentioned. Then, the news was caught by Investing.com, which stated in its article without citing any sources that BlackRock was pivoting its crypto strategy from Bitcoin in favor of XRP. However, upon closer inspection, it appears that the rumor lacks solid evidence, as BlackRock itself has not provided any comment on the matter.
100 million XRP moved to Ripple as price readies new move
According to data provided by Whale Alert, on Sunday, Sept. 17, an unknown wallet transferred 100 million XRP worth $49,977,350 to Ripple. The move could be either a wallet reshuffle, since the transfer was made from an unknown wallet to a named wallet, or an OTC trade that happens outside a traditional crypto exchange setting. At the moment of writing, XRP is changing hands at $0.50, up 1.10% over the past 24 hours. In recent weeks, the token's price fluctuated between $0.436 and $0.558. On Sept. 15, after four days of positive price action, XRP's price recovered to a high of $0.508. On the upside, the daily MA 200 barrier at $0.517 remains a key level to watch going forward in the short term.
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