The XRP price began the week with a show of bullish momentum, seeing an 
approximate jump of 7%. However, the altcoin could not continue on this 
trajectory, as it nosedived on Wednesday and continues on that downward 
trajectory. While XRP&#8217;s future appears to tilt towards the bearish side, a 
technical indicator has recently revealed that the token may be setting up for 
a short-term rebound. Related Reading: Bitcoin Miner Fees Remain Near Cycle 
Lows: What Does This Signal? TD Sequential Signals Potential Trend Exhaustion 
In an X post on January 30, technical analyst Ali Martinez postulates that the 
XRP price could soon see a rebound, provided that certain conditions are met. 
The central indicator for this revelation is the TD Sequential, a technical 
analytics tool that is used in identifying whether an uptrend or a downtrend 
is likely to pause, or even reverse. Simply put, the indicator tracks points 
of trend exhaustion, although in the short-term. The TD Sequential has two 
phases, i.e., the Setup Phase (1–9 count), and the Countdown phase (up to 
count 13), which have their respective interpretations. When a “9” count is 
completed, it is typically a sign of dwindling selling pressure. On the other 
hand, a full “13” count is a telltale sign of an imminent reversal. From the 
chart shared by the analyst, we see a completed “9” count to the downside. 
From this, it is apparent that the momentum driving XRP’s recent fall is 
nearing a point of exhaustion. Interestingly, this signal’s appearance 
coincides with the imminence of a key price support. Martinez explains that if 
the $1.70 support’s integrity is maintained, XRP stands a chance at seeing a 
price rebound. In the case where the $1.70 support sponsors a price rebound, 
the $1.80–$1.85 range stands as the resistance level that may test XRP&#8217;s 
momentum. If momentum builds and price overcomes the aforementioned price 
barrier, $1.90 could be another battleground. Related Reading: XRP To $100? 
Ex-Ripple CTO David Schwartz Weighs In On The Hype XRP ETFs Record $69M In Net 
Outflows Following Thursday Purge According to data from ETF tracking site 
SoSoValue, US XRP Spot ETFs are currently running at a cumulative outflow of 
more than $69 million. The first three days of the week produced combined 
positive netflows valued at 23.87 million. However, a cumulative outflow of 
$92.92 million on Thursday quickly flipped a positive week red. Interestingly, 
this negative figure is in congruence with last week&#8217;s net outflow of $40.64 
million. Typically, a negative netflow signals that institutional demand might 
be tapering, as it directly reports that more capital was withdrawn from the 
XRP ETFs than deposited. In this context, where the XRP price took on a sharp 
downtrend, it becomes apparent that institutional investors may have played a 
significant role in the price downturn of the Ripple token recently seen. 
Nonetheless, negative ETF netflows do not necessarily tell a broader story of 
bearishness, but are reflections of profit-taking or de-risking events. As of 
this writing, XRP trades at a $1.74. According to data from CoinMarketCap, the 
altcoin has lost about 3.26% of its value since the past day. Featured image 
from Pexels, chart from Tradingview

TD Sequential Flashes Buy Signal For XRP On Key Price Condition – Analyst

Activity on Solana has spiked as new AI tech makes it easier than ever to 
launch memecoins. Meanwhile, Ethereum is plugging away at future-proofing and 
bringing down fees.

Active Solana addresses spike 115%, four in 10 merchants take Bitcoin: Month in Charts

Following the passage of the virtual asset service providers (VASP) Act (Act 
1154), the Bank of Ghana has launched the National Virtual Assets Literacy 
Initiative. Strengthening Oversight and Consumer Protection The Bank of Ghana 
(BOG) recently launched a cryptocurrency awareness initiative dubbed the 
National Virtual Assets Literacy Initiative (NAVALI). The launch of NAVALI is 
a […]

Ghana Further Formalizes Digital Asset Sector with Education Campaign

After surging toward the $100,000 mark a few days into the new year, the price 
of Bitcoin looks set to end January in stark contrast to how it started the 
month. On Thursday, January 29, the flagship cryptocurrency fell to a multi- 
month low of around $81,500, with the general market sentiment worsening over 
the past few weeks. Going into the weekend, the price of Bitcoin has somewhat 
cooled off, recovering above the $93,000 level on Friday, January 30. 
Interestingly, the latest on-chain data suggests that the market leader is 
only on the verge of another violent price movement. BTC Setting Up For A 
Violent Liquidation Cascade In a Quicktake post on the CryptoQuant platform, 
CryptoOnchain shared insights into the current on-chain condition of the 
Bitcoin price. According to the market quant, the Bitcoin Estimated Leverage 
Ratio (ELR) witnessed a notable upswing on Binance, the world’s largest crypto 
exchange, while price was undergoing its most recent correction. Related 
Reading: Bitcoin Needs Deeper Liquidity Before A Real Recovery Takes Shape: 
Analysts For context, the Estimated Leverage Ratio is an on-chain metric that 
tracks the ratio between open interest and the reserve of an exchange 
(Binance, in this case). This metric measures the average amount of leverage 
used by the traders in a particular market or exchange. A higher ELR signals a 
higher market risk, suggesting that small price movements could lead to 
significant liquidations. According to data from CryptoQuant, CryptoOnchain 
highlighted that the Bitcoin Estimated Leverage Ratio recently spiked to a 
critical level of 0.188 when the price fell to around $81,500, indicating that 
the Open Interest is exceptionally high relative to the exchange’s reserves. 
Furthermore, CryptoOnchain shared that the divergence between rising leverage 
and falling prices is a classic “bearish divergence” signal in the derivative 
market. “It indicates that despite the price weakness, traders are 
aggressively increasing their leverage positions,” the on-chain expert added. 
What’s more, CryptoOnchain revealed that when the market becomes heavily over- 
leveraged during a price correction, it implies that the traders are either 
“buying the dip” with high leverage or increasingly taking short positions. 
The market quant said this setup usually precedes a “violent liquidation 
cascade.” Overall, CryptoOnchain concluded that the market is currently in a 
high-tension zone, with the combination of peak leverage and low prices 
suggesting that a “squeeze” is imminent. The analyst, however, clarified that 
the direction of the next violent movement depends on the dominant side (bulls 
or bears) of the market. Bitcoin Price At A Glance As of this writing, the 
price of BTC stands at around $84,200, reflecting a nearly 1% jump in the past 
24 hours. Related Reading: Here’s Why The Bitcoin And Ethereum Prices Are 
Still Trading Sideways Featured image from iStock, chart from TradingView

Bitcoin Estimated Leverage Ratio Spikes To New High — Fresh Volatility Ahead?

The October crash highlights the urgent need for stricter risk management and 
transparency in crypto markets to prevent systemic failures.
The post OKX CEO blames irresponsible USDe yield campaigns for October flash 
crash appeared first on Crypto Briefing.

Cryptocurrency price in PHP