The Australian police recently seized 25 bitcoins, a luxury car, and a mansion in Beachmere from a man previously convicted of hacking an American gaming company. AFP Targets Illegal Profits of Hacker The Australian Federal Police (AFP) recently seized 25 bitcoins, a luxury car, and a mansion in Beachmere from a man previously convicted of […]

Australian Police Seize Hacker’s Bitcoin, Mansion and Luxury Car

Most people on crypto X are familiar with the &#8220;Never sell your Bitcoin&#8221; maxim. 
However, on May 13, one of the prominent Bitcoin influencers, trader and 
investor Willy Woo, admitted he is selling his holdings to invest in Bitcoin 
infrastructure…

Never sell your Bitcoin — unless you’re Willy Woo? Crypto X purists pounce on influencer for strategy

**Key takeaways:**
 * XRP could be headed lower to $2 following a breakdown of a classic head-and-shoulders pattern.
 * Declining open interest in XRP futures signals weakening trader confidence.
The XRP (XRP) price is flashing warning signs as a bearish technical pattern 
resolves on lower timeframes, coinciding with massive long liquidations and 
decreasing open interest.
## XRP H&amp;S pattern hints at a 14% price drop
XRP price action has formed a head-and-shoulders (H&amp;S) pattern on its four- 
hour chart since May 9, projecting a likely down-move.
The head-and-shoulders pattern is a bearish reversal pattern that can signal a 
change in trend. It consists of three peaks: a higher peak (head) and two 
lower peaks (shoulders).
It is resolved when the price breaks below the neckline (the line connecting 
the lows of the left and right shoulder), confirming the pattern and 
suggesting a potential sell signal.
In XRP&#8217;s case, the pattern was validated following a break and close below the 
neckline at $2.33 during the early Asian trading hours on May 19.
If the price stays below the neckline, the XRP/USD pair could slide further to 
$2.25 (where the 200-day simple moving average currently sits) and then to the 
pattern target of $2.00. This would bring the total losses to 14% from the 
current levels.
_XRP/USD four-hour chart. Source: Cointelegraph/__TradingView_
As Cointelegraph reported, a possible decline to as low as $2.00 is currently 
in play as bullish momentum has decreased.
For popular analyst Egrag Crypto, XRP price &#8220;must hold&#8221; the support at $2.30, 
which aligns with the H&amp;S neckline, to avoid a breakdown toward these targets.
_**Related:**__**XRP price path to $3.40 remains intact &#8212; Here is why**_
The analyst shared a chart showing that a drop below $2.30 could trigger a 
massive sell-off, with the initial target set around $2.15 and then as low as 
$1.60.
_Source:__Egrag Crypto_
## XRP open interest down $1 billion in 5 days
XRP open interest (OI) has decreased by 18% to $4.49 billion over the last 
five days. This decline in OI signals reduced trader confidence and liquidity, 
which drives prices down.
_XRP futures open interest. Source: CoinGlass_
The latest drawdown in XRP price has also triggered liquidations over the last 
day, where long positions valued at $12 million were forcibly closed, compared 
to just $1.4 million in shorts.
_Total XRP liquidations across all exchanges. Source: CoinGlass_
This reflects heightened selling pressure as bullish traders are forced to 
sell at a loss, further pushing prices lower.
Importantly, XRP&#8217;s 3% drop over the last 24 hours is accompanied by a 70% 
increase in daily trading volume to $4.1 billion. Trading volume increases 
amid a price decline can be interpreted as increasing bearish momentum or 
repositioning by crypto traders as they wait for XRP&#8217;s next move.
This article does not contain investment advice or recommendations. Every 
investment and trading move involves risk, and readers should conduct their 
own research when making a decision.

XRP price risks falling to $2 after classic bearish chart pattern confirms

Bitcoin and other crypto prices dropped on Monday as risk-off sentiment spread 
across the financial market. Bitcoin (BTC) fell to $102,870 after trading near 
the $106,000 level on Sunday. Ethereum (ETH) declined to $2,400, while the 
total market capitalization of…

Why crypto market is down today: Moody’s U.S. downgrade triggers sell-off

What started as an X rant of a crypto investor blaming Binance Alpha for 
raking airdrops while leaving testnet users with negligible rewards turned 
into a discussion, an open letter to Binance, and a trending hashtag 
#StopBinanceAlpha. Binance Wallet’s dominance…

#StopBinanceAlpha: early adopters of memecoins miss out on airdrops as the bulk of them go to Binance Alpha users

Saylor&#8217;s aggressive Bitcoin acquisition strategy may heighten financial risk 
and legal scrutiny, impacting investor confidence and market dynamics.
The post Michael Saylor&#8217;s Strategy acquires 7,390 Bitcoin for $765 million 
amid new investor lawsuit appeared first on Crypto Briefing.