Latest news with #CoinDeskAnalytics
Yahoo
29-07-2025
- Business
- Yahoo
SUI Token Drops Nearly 6% After Brief Spike as Stronger U.S. Dollar Pressures Crypto Market
SUI, the native token of the Sui blockchain, is down nearly 6% over the past 24 hours, retreating to $4.04 after briefly jumping to $4.44 overnight. The move came on the back of a 32.37 million token volume spike, well above daily norms, before selling intensified and dragged prices lower, CoinDesk Analytics data shows. Bulls initially held the line at $4.32, but bears seized momentum as SUI slipped through key technical levels. The token closed the session at $4.11, a 5.25% drop. CoinDesk Analytics shows resistance now forming between $4.20 and $4.24, while a double-bottom appears to be developing at $4.08 to $4.09. Broader weakness in crypto markets may have added to the pressure. The CoinDesk 20 Index is down 1.4% over the past day. A nearly 1% rise in the U.S. Dollar Index today — often a headwind for risk assets like cryptocurrencies — coincided with the market-wide decline, including SUI's slide. Still, SUI is up 46% in the past month, outperforming the CD20's 33% gain. That growth tracks rising interest in the Sui ecosystem, which saw total value locked surpass $2 billion earlier this month, according to DeFiLlama. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
18-07-2025
- Business
- Yahoo
XRP Rockets 20% to Set Record Highs, With $10 Price Target in Play
XRP zoomed more than 20% in the past 24 hours to hit $3.61 — its highest level in over six years — as institutional buyers and breakout traders piled in during a session marked by three massive volume surges. The move followed weeks of accumulation near the $3 mark and came with price volatility nearing 20%, signaling strong conviction behind the rally. Per CoinDesk Analytics, over 200 million XRP changed hands during each of the breakout windows at 05:00, 08:00, and 21:00 UTC, propelling the token past key resistance at $3.52–$3.53. The $3.29–$3.30 zone served as a high-volume base throughout the session, with bulls repeatedly absorbing sell pressure and defending their ground. 'Short-term price targets range from $2.00–$2.17 on the downside to $2.65–$3.00 on the upside,' said Ryan Lee, Chief Analyst at Bitget. 'Long-term forecasts suggest $4.20–$10+ by 2030 if Ripple capitalizes on payment adoption, though $2.50 remains a pivotal level to watch for the next breakout or breakdown,' Lee added. Lee noted that XRP's medium-term trajectory could extend to $5.89, depending on ETF approvals and regulatory clarity. However, technical indicators remain mixed, with a neutral RSI and bearish MACD pointing to potential near-term consolidation. Open interest in XRP derivatives topped $10 billion for the first time since 2021, while funding rates across major exchanges flipped positive, suggesting aggressive long positioning. XRP has gained nearly 70% in the past 30 days, emerging as the strongest token among all majors. And it might just be getting started. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
