XRP Price Today: Ripple Drops to $1.38 After Failing to Hold $1.41 Open – Key Support at Risk

Tech  XRP Price Today: Ripple Drops to $1.38 After Failing to Hold $1.41 Open – Key Support at Risk  XRP is trading near $1.38 on May 8, 2026, after one of the more methodical sell sessions the token has seen this month. No sharp flush, no panic wick. Just a slow, consistent grind from the $1.4154 open down toward the session low near $1.375, with barely any attempt at recovery along the way.  That kind of price action tells you something specific: sellers are in control and buyers are not convinced enough to step in yet.  What the Chart Looked Like  XRP opened the 24-hour session at $1.4154 and briefly pushed toward $1.42 in the first few minutes. That was the top. From 11:00 AM onwards, the sell-off started.  It was not aggressive. Price drifted from $1.415 to $1.410, then to $1.40, then kept going. By 6:00 PM it was below $1.40. By midnight it was near $1.39. The Asian session brought another leg down to a low around $1.375, and XRP has since stabilized near $1.38 with no meaningful bounce to show for it.  Volume was average throughout, which rules out a liquidation cascade. This was orderly selling, probably a mix of profit-taking from last weeks

05-08

Coinbase shares slide on $400M Q1 loss, revenue miss

Coinbase shares slid Thursday after the US crypto exchange reported a steep first-quarter loss while revenue missed Wall Street expectations.  Coinbase reported a net loss of $394.1 million in Q1, its second consecutive quarterly loss after reporting a $667 million loss in Q4 2025. It swung from a $65.6 million profit a year earlier.  “Macro conditions were genuinely tough,” Coinbase chief financial officer Alesia Haas told investors on an earnings call. “Total crypto market cap and total crypto trading volume were both down more than 20% quarter-over-quarter.”  Coinbases earnings come as other crypto companies have also struggled to turn a profit in the first months of 2026 as a crypto market slump pushed some traders to other investments.  Meanwhile, Coinbases Q1 revenue was $1.41 billion, missing analyst estimates of $1.5 billion. Transaction revenue slumped 40%, while subscription and services revenue — representing its business outside trading — fell 13.5% from a year earlier.  Its earnings per share were a $1.49 loss, compared to analysts expectations of 36 cents per share, which saw Coinbase dropping by 4.7% after hours on Thursday to under $184.  Coinbase shares fell in regular and after-hours trading on Thursday amid the companys first-quarter earnings. Source: Google Finance  Coinbases stock has fallen more than

05-08

DOT Price Prediction: $1.50 Target as Technical Breakout Gains Steam

DOTs Breakout Momentum  Polkadot has broken through a critical resistance zone, with the current $1.32 price level representing a successful test of the upper Bollinger Band. This breakout carries weight because it coincides with the RSI at 59.62 showing room for further upside expansion, while the MACD histograms neutral position at zero suggests momentum could accelerate in either direction from here.  The price action above both the 7-day SMA at $1.26 and 20-day SMA at $1.25 has flipped these levels from resistance into support. This technical shift often precedes sustained moves when combined with the low volatility environment reflected in the daily ATR of $0.05. Blockchain.news analysis shows these compressed volatility periods frequently explode into directional moves once a catalyst emerges.  Market Structure Tensions  The derivatives market is telling a more complex story than the spot price suggests. Despite the upward price movement, the taker buy/sell ratio of 0.855 reveals more aggressive selling than buying, with $1.14 million in sell volume outpacing $971K in buy volume. This imbalance creates tension between whats happening on spot exchanges and what futures traders are positioning for.  However, the positioning data provides a bullish counterbalance. Retail traders hold 71% long positions while top traders maintain 73.4% long exposure, creating

05-08

CLARITY Act Markup Looms as 52% of Voters Back Crypto Legislation

The findings also suggest that lawmakers could gain political support by backing the legislation. Around 37% of voters said they would be more likely to support a senator who votes in favor of the bill.  Nearly 47% of respondents said they would consider voting across party lines. This figure climbs to 72% among cryptocurrency holders.  With broad, bipartisan voter support, lawmakers face growing political pressure to deliver. All eyes now turn to the markup and whether the bill can stay on course for the White Houses July 4 deadline.  The post CLARITY Act Markup Looms as 52% of Voters Back Crypto Legislation appeared first on BeInCrypto.

05-08

Arbitrum Poised to Unfreeze $71M ETH Passes With 90% in Favor

A joint proposal to release the roughly $71 million in Ether frozen after the Kelp DAO exploit is set to pass later on Thursday, moving a cross-protocol recovery effort closer to restoring part of rsETHs backing.  Over 90.5% of the tokens were cast in favor of the motion, representing 173.9 million Arbitrum (ARB) tokens, while 9.4%, or 18.1 million tokens, abstained. Less than 1%, or 1,700 tokens, voted against the proposal before the voting periods scheduled end at 6:54 pm UTC, according to a Snapshot at the time of writing.  Co-authored by Aave Labs, Kelp DAO, LayerZero, EtherFi and Compound, the proposal seeks to unfreeze the 30,765 Ether (ETH) that was frozen by Arbitrums Security Council on April 21, days after an attacker drained about 116,500 restaked Ether (rsETH) from Kelp Dao, worth between $290 million and $293 million at the time.  The proposal marks the end of the first round of voting, bringing the “DeFi United” recovery effort closer to restoring part of rsETH‘s backing and moving the motion to a definitive onchain governance proposal. It comes shortly after Aave Labs liquidated the Kelp DAO hacker’s remaining rsETH positions on Ethereum and Arbitrum, moving one step closer to resolution.  “DeFi United” is a

05-08

XRPs Biggest Holders Just Stopped Sending Tokens to Exchanges: Last Time Was November 2021

Sebastians journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.  To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastians goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.  To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.  Sebastians passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and

05-08

Japan intervened in FX market again during May holidays – Reuters

Citing a source familiar with the matter, Reuters reported on Friday that Japans officials intervened in the foreign exchange market during holidays in early May, after having conducted Japanese Yen-buying operations on April 30.  The source said: “The intervention since the start of May was timed to coincide with the holiday period, when market liquidity was thin.”  Reuters calculated the Bank of Japans (BoJ) money market data, which suggests that Japan may have spent as much as JPY5 trillion or $32 billion in the period between May 1 and May 6.  Meanwhile, the April 30 intervention may have cost around $35 billion, according to the BoJ data.  Market reaction  The Japanese Yen (JPY) shows little reaction to the above comments, with USD/JPY holding steady at around 156.90, as of writing.  Japanese Yen FAQs  The Japanese Yen (JPY) is one of the world‘s most traded currencies. Its value is broadly determined by the performance of the Japanese economy, but more specifically by the Bank of Japan’s policy, the differential between Japanese and US bond yields, or risk sentiment among traders, among other factors.  One of the Bank of Japans mandates is currency control, so its moves are key for the Yen. The BoJ has directly intervened in currency markets

05-08

MATIC Price Prediction: $0.31 Breakdown Likely as Bears Target 18% Downside

MATICs Technical Reality Check  MATIC is caught in a textbook bearish squeeze that screams downside continuation. Trading dead flat at $0.38 with RSI at 38, the token is clearly in distribution mode as selling pressure builds beneath the surface. The MACD histogram sitting at essentially zero (-0.0000) reveals momentum has completely stalled, but the negative MACD line at -0.0246 confirms the underlying bearish bias remains intact.  What‘s particularly damaging is MATIC’s position within the Bollinger Bands—sitting at just 0.29 of the band width means it‘s already gravitating toward the lower boundary at $0.31. This isn’t consolidation; its a slow-motion breakdown in progress. The 20-period SMA at $0.43 continues acting as a ceiling, creating a clear rejection zone that bulls have failed to reclaim multiple times.  Volume & Price Alignment  The volume story tells everything you need to know about MATICs current weakness. With just $1.07 million in 24-hour Binance spot volume, institutional interest has essentially evaporated. This anemic liquidity creates a perfect storm for volatility spikes, but given the technical setup, those spikes will likely favor the downside.  Hourly candlesticks (about 96 bars), same endpoint as our cryptocurrency price pages. Numbers below refresh from 1-minute klines.  Full MATIC price, calculator & analysis  More telling is how MATIC

05-08

Japanese Yen gathers strength on reports of FX intervention during May holidays

The USD/JPY pair loses ground to around 156.85 during the Asian session on Friday. The Japanese Yen (JPY) strengthens against the US Dollar (USD) following another intervention by Japanese authorities. Markets might turn cautious later on Friday ahead of the US April employment report.  Reuters reported on Friday, citing a source familiar with the matter, that Japans officials intervened in the foreign exchange market during holidays in early May after having conducted Japanese yen-buying operations on April 30. The source said: “The intervention since the start of May was timed to coincide with the holiday period, when market liquidity was thin.”  The potential for further interventions could provide some support to the JPY and act as a headwind for the pair. Japans top foreign exchange official Atsushi Mimura said on Thursday that authorities are prepared to respond on all fronts to speculative moves in the foreign exchange market.  All eyes will be on the US employment report for April, which is due on Friday. Market consensus estimates 62,000 new jobs in April. This would be a sharp drop from the 178,000 jobs added in March. Furthermore, the Unemployment Rate is projected to remain steady at 4.3%.  Japanese Yen FAQs  The Japanese Yen (JPY) is one

05-08

Asian stock markets slump on renewed uncertainty over Middle East conflicts

Finance  Asian stock markets slump on renewed uncertainty over Middle East conflicts  Asian equity markets face selling pressure on Friday as risks over the sustainability of the month-long fragile ceasefire between the United States (US) and Iran have increased, following renewed clashes between both nations around the Strait of Hormuz.  During the press time, Nikkei 225 is down 0.66% to near 62,440, Shanghai slumps over 0.4% at around 4,160, and Hang Seng plunges 1.3% to near 26,280.  On Thursday, three US Navy destroyers reportedly intercepted Iranian strikes while transiting the strategic waterway and carried out retaliatory attacks, which prompted fears of renewed tensions between both nations.  However, US President Donald Trump confirmed that a ceasefire with Iran is still intact, while warning that attacks would be obvious if the temporary truce were over, CNN reported.  Meanwhile, Iran is still reviewing the US one-page memorandum of understanding (MoU), which is a 14-point peace plan, and has not delivered any breakthrough response. The one-page MoU restricts Tehran from pursuing its nuclear ambitions for a longer period and calls for the immediate reopening of the Hormuz.  Going forward, investors will focus on the US Nonfarm Payrolls (NFP) data for April, which will be released at 12:30 GMT. Investors will closely

05-08
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