Top Crypto News: XRP, PEPE, and BlackRock's New Moves

XRP Price Analysis

XRP has recently exhibited a spinning top candlestick pattern on its XRP/USDT chart, signifying potential market indecision. This pattern often indicates a pause or reversal in trends, especially after a recent price surge. XRP's recent milestones include breaking resistance levels and reaching highs near $0.72. However, to maintain its upward momentum, it must hold above crucial support levels, particularly the $0.60 mark. If it falls below this threshold, a retracement toward the $0.55 support level, which aligns with the 50-day moving average, could occur. For continued growth, XRP needs to surpass the $0.72 high, potentially testing resistance levels between $0.75 and $0.78. Currently, XRP is trading at $0.86, showing a 21.08% increase over the past day.

PEPE's Market Cap Surge

The PEPE meme coin recently achieved a significant milestone by surpassing a $10 billion market capitalization. This surge was fueled by its price reaching $0.00002457 before settling at $0.00002346, marking an impressive 86% increase within 24 hours. The rise followed Coinbase's announcement to list PEPE and its availability to Robinhood users in the U.S. PEPE is now closing in on Shiba Inu's market cap, with both valued at $14.2 billion and $9.1 billion, respectively. While Shiba Inu has lost momentum, Dogecoin maintains a strong performance with a market cap of $54.6 billion.

BlackRock's Investment in Bitcoin ETFs

BlackRock, the largest asset manager globally, has disclosed acquiring 2,535,357 shares of the iShares Bitcoin Trust ETF (IBIT), valued at $91.6 million. The ETF has attracted significant inflows, totaling $230 million recently, highlighting its growing popularity. With a record $5 billion in daily trading volume, IBIT is nearing $30 billion in cumulative inflows, boasting total net assets of $42.56 billion. In just 211 days, it surpassed the $40 billion mark, setting a new record. BlackRock also shows interest in its Ethereum ETF, the iShares Ethereum Trust ETF (ETHA), although inflows remain lower compared to IBIT.