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Here are the top three news stories by U.Today from the past day.
XRP: Worst case scenario just played out
Yesterday, XRP experienced a technical rejection that may hold back or even stop its potential breakout to $3. Currently, XRP is trading at $2.19, down 7.14% over the past 24 hours; the asset was unable to break above the 26-day EMA resistance, which has strengthened bears' hold in the short term. The recent rejection near the $2.42 level, in addition to low trading volume, has created a bearish setup, making this failure even more detrimental, as XRP is still below the 50-day EMA; this suggests that there has not been a confirmed reversal and that investor confidence in a long-term uptrend is fading. XRP is now trapped in a narrowing range between $2.20 and $2.30, with the 200-day moving average at approximately $1.93 serving as a potential target if this support level fails. In general, the market shows uncertainty, and bulls must regroup to maintain the $2.20 level before attempting another push higher.
Yuri MolchanBinance CEO confirms commitment to three crucial principles
In a recent X post, Richard Teng, the CEO of Binance, underscored the company’s commitment to transparency, security and compliance. "User trust is paramount in the blockchain industry. We're committed to transparency, security, and compliance to ensure that this technology delivers on its immense potential," reads the post. However, the statement raised eyebrows within the crypto community, as its timing coincided with a rising wave of speculation regarding Binance being involved in an attack on Hyperliquid. The attack involved a complex strategy where an unidentified assailant shorted JELLY futures, while simultaneously inflating the coin's price. This led to significant losses for Hyperliquid, equaling $10 million. Blockchain analysis traced the funds used in the attack back to both Binance and OKX, increasing suspicion that these centralized exchanges might have orchestrated the attack to destabilize Hyperliquid. In response, Hyperliquid delisted JELLY and activated its Auto-Deleveraging mechanism, which was viewed by some users as unfair due to the fixed settlement price.
Another billion SHIB suddenly burned – Shiba Inu exec reacts
Lucie, Shiba Inu's marketing lead, has recently taken to X platform to highlight a massive burn of SHIB tokens that took place on March 27. "There was another 1B SHIB burn. Totally same address burned 2B SHIB in a 3-day frame," wrote Lucie. An anonymous whale moved one billion SHIB (worth approximately $14,410) to a burn wallet, which marks the second one-billion-SHIB burn this week. Thanks to these large transactions and several smaller burns, the total SHIB burn rate skyrocketed to an impressive 57,069%. But what exactly about this burn transaction has caught Lucie's attention? The marketing lead explained that the same address had burned 700 BONE and LEASH tokens after unstaking them from the ShibaSwap DEX. On March 24, the X account associated with CENT meme coin claimed responsibility for the massive one-billion-SHIB burn, stating that they wanted to burn even more SHIB.
Vladislav Sopov
Dan Burgin