MOODENG is showing strong signs of a potential breakout, with bulls eyeing a possible 85% rally as momentum builds from both technical indicators and increasing whale accumulation. According to data from CoinGecko, the Ethereum- based version of MOO DENG (MOODENG) was…

MOODENG on Ethereum eyes 85% rally as golden cross forms

In a shocking move that has defused a brutal trade war and boosted 
international markets, the United States and China decided on May 12, to 
significantly reduce tariffs on each other&#8217;s goods for the first 90 days. This 
naturally sparked…

XAUUSD weekly forecast: price looking to retrace to $3300 and beyond

Bitcoin saw a classic weekend pump-and-dump, with price now sitting at a 
critical support level. Despite the drop, the market structure remains bullish 
and poised for another breakout. Bitcoin (BTC) opened the week with a sharp 
retracement after an unsustainable…

Crypto bull run intact despite weekend volatility in Bitcoin

Strategy, formerly MicroStrategy, and the top corporate Bitcoin holder, 
acquired nearly $765 million of Bitcoin last week. The purchase comes as the 
company faces a class-action lawsuit.
According to a May 19 announcement, Strategy acquired 7,390 BTC for about 
$764.9 million at an average price just under $103,500. Strategy reported a 
Bitcoin yield of 16.3% year-to-date.
As of May 18, Strategy holds 576,230 BTC acquired for around $40.18 billion at 
an average price of $69,726 per coin. At current prices, the company&#8217;s total 
holdings are valued at more than $59.2 billion, representing an unrealized 
gain of $19.2 billion, or 47%.
According to CoinMarketCap data, Bitcoin traded at around $102,615 at the time 
of writing, up 20.3% over the last month.
_Bitcoin&#8217;s price chart. Source:__CoinMarketCap_
 _**Related: **__**Jim Chanos takes opposing bets on Bitcoin and Strategy**_
## Strategy hit with a lawsuit
According to a May 19 filing with the US Securities and Exchange Commission, 
&#8220;a purported class action lawsuit was filed in the US District Court for the 
Eastern District of Virginia against&#8221; the company&#8217;s executives, including 
executive chairman Michael Saylor, its president and CEO Phong Le and 
executive vice president and chief financial officer Andrew Kang.
Strategy officials are accused of &#8220;violations of Section 10(b) of the 
Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), and Rule 
10b-5 thereunder, and Section 20(a) of the Exchange Act.&#8221; The filing states:
&gt; &#8220;The [suit claims] that the named defendants made false and/or misleading 
&gt; statements with respect to and/or failed to disclose information with 
&gt; respect to the anticipated profitability of our Bitcoin-focused investment 
&gt; strategy and treasury operations, and the various risks associated with 
&gt; bitcoin&#8217;s volatility.&#8221;
_**Related: **__**Strategy will beat all public equities with Bitcoin, 
analyst says**_
## Strategy keeps inspiring others
Strategy&#8217;s Bitcoin treasury strategy has inspired multiple other companies to 
follow in its footsteps. Last week, shares of luxury watchmaker Top Win surged 
more than 60% in premarket trading after the company said it would adopt a 
Bitcoin accumulation strategy and had changed its name to AsiaStrategy.
AsiaStrategy said it is partnering with Sora Ventures to implement its plan, 
the firm that notably partnered with Metaplanet in 2024 to create Japan&#8217;s 
first corporate Bitcoin treasury. Also last week, a Bahrain-based listed 
catering company with a $24.2 million market cap adopted a Bitcoin treasury 
strategy in partnership with investment firm 10X Capital.
_**Magazine: **__**Rise of MicroStrategy clones, Asia dominates crypto 
adoption: Asia Express 2024 review**_

Strategy buys 7,390 BTC for $765M, gets hit with class-action lawsuit

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.