2 hours ago
TL:DR; The entire crypto market turned red on Sunday morning, but some altcoins were hit harder than others. XRP’s price decline came just hours after a warning by a popular analyst that whales have started to sell off their holdings. XRPUSD. Source: TradingView The third-largest cryptocurrency failed to go into uncharted territory a few weeks back, and it was stopped 1% away from its 2018 all-time high of $3.4 (CoinGecko data). Since then, the asset has failed to resume its rally and actually slipped to $2.8 during the Monday correction. Nevertheless, it turned the tables during the business week by reclaiming the coveted $3 line. Moreover, it jumped to a weekly high of $3.15 on Friday, but its progress was halted at that point. It started to lose value gradually over the weekend but slumped hard in the past 12 hours or so alongside bitcoin and the rest of the alts . Its price fell to a 6-day low of $2.82, thus dropping by more than 8% on a daily scale from top to bottom. Despite recovering some ground to almost $2.9 now, XRP is still over 5% down on the day. This correction for the cross-border token comes not only with the rest of the market but also following a strategy reversal by whales. These large market participants were among the biggest propellers of XRP’s surge since the elections by accumulating billions of dollars worth of the asset within months. Now, though, Ali Martinez showed that they have changed their tune and actually offloaded $70 million worth of XRP within a few days. Whales are particularly important to the overall market movements as they have the ability to move it with their large purchases or sell-offs. Whales have offloaded over 70 million $XRP in the past 96 hours! pic.twitter.com/qEe56f4Ujt — Ali (@ali_charts) February 1, 2025 The post Why Did Ripple’s (XRP) Price Tumble by 8% Daily? appeared first on CryptoPotato .
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Bitcoin and Gold Are the Cleanest Artificial Intelligence Plays, Says Macro Guru Luke Gromen – Here’s Why
Luke Gromen believes that Bitcoin ( BTC ) and gold are the two best assets to accumulate for investors looking to make a play on the potential economic impact of artificial intelligence (AI). In a new video, the macro guru tells his 36,500 YouTube subscribers that he believes AI will spark a banking crisis as the technology gains capabilities to perform tasks that humans usually do. According to Gromen, AI will ultimately displace jobs and stifle wage growth, leading to a surge of souring consumer loans. “Once AI makes enough progress, then, in theory, the deflationary impulses will start to weigh not just on consumer loan delinquencies but then by extension the banking system. So it’s unclear to me how fast that daisy chain of events will be processed and flow through the system. From there, it becomes a ‘yes’ or ‘no’ question I think that’s fairly simple to answer, which is will policymakers stand aside and let the deflation on wages and jobs cause a banking crisis via consumer loans, etc., or will they step in and act to effectively start preserving the banking system by growing their balance sheets. I think we all know the answer to that question.” Gromen predicts that central banks will intervene and bail out the banking system once again via monetary debasement. He believes that Bitcoin and gold will soar as soon as policymakers print money to rescue banks from defaulting. “I think gold and Bitcoin are the two best, cleanest AI plays paradoxically. Because ultimately the deflation that AI is going to bring in is going to force consumer loan defaults and then ultimately significant money printing as central banks are really going to have no choice but to fully reserve consumer debt and maybe other forms of debt in my view.” At time of writing, Bitcoin is trading for $101,300. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Bitcoin and Gold Are the Cleanest Artificial Intelligence Plays, Says Macro Guru Luke Gromen – Here’s Why appeared first on The Daily Hodl . Crypto Potato
Bitcoin and Altcoins Face Challenges as Market Experiences Decline
The cryptocurrency market is facing a downturn, affecting major coins like Bitcoin. Market volatility may lead to increased risk for traders and investors alike. Continue Reading: Bitcoin and Altcoins Face Challenges as Market Experiences Decline The post Bitcoin and Altcoins Face Challenges as Market Experiences Decline appeared first on COINTURK NEWS . Crypto Potato
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