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XRP’s hold on the $2.5 support appears fragile after whales initiated a massive sell-off of the cryptocurrency. Specifically, whales collectively sold around 70 million XRP, worth approximately $178 million, over the past 48 hours, according to on-chain data from Santiment shared by Ali Martinez in an X post on October 25. XRP whale transaction chart. Source: Santiment The sell-off, led by wallets holding between 100,000 and 10 million XRP, comes as the token trades at $2.54, clinging to fragile support amid market uncertainty. Historically, such whale liquidations have preceded short-term declines, and if selling persists, XRP could retest the key $2.00 support zone. Meanwhile, technical indicators suggest that while a short-term correction remains possible, the long-term outlook for XRP looks promising.  XRP’s imminent breakout  In this regard, Analysis shared by ChartNerd in an October 25 X post indicated that XRP has been consolidating withi...

On August 24, Bitcoin (BTC) experienced a sudden “flash crash,” losing $4,000 from its market price within minutes. Jacob King, CEO of WhaleWire, suggested the sell-off was sparked by a single large holder liquidating over 24,000 BTC, worth more than $2 billion: “Bitcoin flash crash today, which wiped out $310M in long positions, has been traced to a SINGLE Bitcoin whale dumping BTC for ETH. The whale sold 24,000+ BTC, including coins that hadn’t moved in 5+ years.”  The effects of the sell-off were felt across the broader crypto market, which lost $130 billion from its total capitalization.  Total crypto market capitalization. Source: TradingView Coming just a couple of days after a brief boost triggered by comments from Federal Reserve chair Jerome Powell, the downward trend continued on Monday, August 25, with over 147,500 traders being liquidated in the past 24 hours, losing a total of $717 million. JUST IN: 147,580 traders were liquidated ...

For some reason, crypto traders look to Arthur Hayes for market forecasts. Hayes rose to prominence as CEO of BitMEX, once the world’s largest crypto derivatives exchange, where his market-maker traded against his own customers. Hayes’ fame continued after his indictment and house arrest, and he’s now chief investment officer at Maelstrom. Although a comprehensive accounting of every prediction Hayes ever made is beyond the scope of this article, Protos has analyzed 20 of his most recent predictions and listed the results below. Sub-$50K bitcoin On September 6, 2024, Hayes predicted, “BTC is heavy, I’m gunning for sub $50k this weekend. I took a cheeky short.” Unfortunately, bitcoin didn’t drop below $50,000. Later that day, it briefly dropped to $52,546, but it has never traded at a lower price since. Conclusion: Fail. Crypto’s March peak On January 6, 2025, Hayes predicted that crypto markets would peak in mid-March 2025. Ho...