U.Today – Top Three Crypto News Stories

XRP Rockets 82% in Week, But Mega Golden Cross Signals Biggest Breakout Ahead

XRP has been making headlines with a remarkable price surge of over 80%, reaching a three-year high of $1.265 per token. This momentum is driven by increased interest and significant regulatory developments in the U.S. market. The price has broken out from a triangle accumulation pattern established since 2018, hinting at a potential historic breakout for XRP. Additionally, a golden cross is forming on the weekly price chart, indicating the possibility of a future rally, although such formations can also mark the end of price increases, as seen in April 2021.

Shiba Inu (SHIB) Finally Breaks Out of Downtrend

Shiba Inu appears to be breaking its long downtrend based on current price movements and on-chain metrics. After months of consolidation, SHIB is nearing a crucial resistance level at $0.000025, which could lead to significant gains. The token has surpassed the 50-day and 200-day exponential moving averages, which are bullish indicators. Trading volume has increased, signaling growing investor interest. Notably, large holders have been active, with $2.69 billion in transactions over $100,000. While 61% of SHIB holders are in profit, indicating strong support, caution is advised due to potential volatility when these holders take profits.

MicroStrategy Announces Insanely Large Bitcoin Purchase

Business intelligence firm MicroStrategy, led by Michael Saylor, recently announced the acquisition of $4.6 billion worth of Bitcoin in just one week. The company purchased 51,780 BTC at an average price of $88,627 per Bitcoin, raising its total holdings to 331,200 BTC, valued at approximately $29.7 billion. According to K33 Research, this amount exceeds the total global inflow to Bitcoin exchange-traded products (ETPs), which was 25,993 BTC. MicroStrategy now controls 1.6% of Bitcoin's circulating supply, with its average purchase price at $49,874. Despite a modest 0.17% share increase in premarket trading, MicroStrategy shares are up nearly 400% year-to-date.

*This article was originally published on U.Today.