The Spent Output Profit Ratio (SOPR) for long-term holders (LTH) is one metric gaining attention. It has reached a new high for 2025, according to CryptoQuant analyst Gaah. This indicator measures the profitability of coins moved by owners who have held their Bitcoin for over 155 days. Current readings suggest that LTHs are starting to sell at a profit, but the SOPR is yet to reach the critical levels traditionally associated with market peaks.

Gaah pointed out that while the LTH SOPR has crossed the midpoint and is slightly above 2.5, it’s still far below the 4.0 level, which has historically signaled macro peaks in past cycles. This indicates that long-term investors are making profits, but not in a manner that suggests a market frenzy or widespread divestment. Higher SOPR readings above 4.0 in previous bull cycles marked the beginning of substantial corrections or cycle peaks.

The steady rise in profit-taking suggests a maturing market that still has upward potential. Gaah advises investors to view this as part of the natural progression of a bullish phase, although correction risks persist. The ongoing patterns of accumulation and realization by LTHs offer a glimpse into how confidence and caution can coexist in the market.

In related news, CryptoQuant analyst Arab Chain pointed out the continual activity in the Bitcoin derivatives market. He noted that the total number of outstanding futures contracts, or open interest, remains high near $42 billion. Though slightly down from recent peaks, this level is near historical highs and shows robust trader involvement.

Arab Chain also underlined the impact of rising funding rates on market sentiment. Presently, these funding rates show a dominance of long positions, suggesting a bullish market. However, with high open interest and increasing leveraged trades, this could also indicate a higher risk of volatility. An unexpected price shift could trigger widespread liquidations if funding becomes unsustainable, forcing exchanges to close positions.

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Having surpassed Tether’s USDT stablecoin, XRP now holds the position of the third-largest cryptocurrency, boasting a market capitalization of approximately $208 billion. As its performance triggers heightened social media discussions, analysts are eager to forecast what comes next.

John Squire, a renowned XRP advocate and regular price analyst, identified a potentially similar pattern in the altcoin’s bi-weekly trading chart. He highlighted that around 36 weeks ago, the altcoin exhibited the same structure and saw a six-fold increase.

“If we’re in for a repeat of history, we could see another explosive rise,” Squire commented. But how feasible is this, and what would it require?

The primary requirement would be for XRP to reach a market cap of about $1.2 trillion (assuming no new tokens are released), which is roughly triple that of Ethereum. Additionally, constant buy-side liquidity in the hundreds of millions or even billions would be needed at current market liquidity levels. For instance, a mere 2% hike in XRP’s price would demand over $12 million in unmatched buying on Binance, which makes up approximately 14% of XRP’s total trading volume.

Is XRP Gearing Up for Another Leap?

At the moment, XRP’s volume has declined by 15% in the past 24 hours, and the crypto appears to be entering a consolidation phase. Thumzup Media Corporation, a firm listed on Nasdaq, recently approved a $250 million investment plan to grow its cryptocurrency holdings. It plans to include altcoins like XRP, ETH, SOL, DOGE, and LTC.

Noted analyst Lark Davis believes that if XRP can stabilize its price action above $3, it could potentially skyrocket to $4.1 or $4.5, entering what he dubs as the “bonkers territory.”

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Over the past week, Cardano’s ADA has stormed ahead, demonstrating a 30% surge following a period of consolidation and price alerts from crypto enthusiasts. Many anticipate this to be the beginning of a steeper incline, with the potential of ADA surpassing the $1 mark if it successfully breaches a crucial resistance level.

A renowned crypto analyst, with close to 140,000 followers, speculates that this breakthrough could propel ADA’s price between $0.90 and $1.20.

The resistance that may impede ADA’s climb is approximately at the $0.74 mark, a familiar level for ADA as it has previously halted its price ascension. ADA managed to surpass this level briefly during Friday’s price surge, peaking at almost $0.78 in a two-and-a-half-month high. However, the bears swiftly reconvened, preventing a decisive closure above it.

The last time ADA consistently traded above $0.74 was in mid-May, after which it experienced a significant correction, falling to $0.5 at one point. Despite this, ADA has stood out as the top performer among the 12 largest cryptocurrencies by market cap in the past week, gaining nearly 30%. This is more than both XRP (26%) and HYPE (22%).

This remarkable surge follows IOG’s proposal to trade $100 million worth of ADA for BTC and stablecoins to bolster the blockchain’s DeFi ecosystem. This proposal was met with resistance from some quarters who suggested it could trigger a painful sell-off and price dips. Regardless, Charles Hoskinson was quick to ridicule the skeptics after ADA’s leap beyond $0.7, making it a top performer.

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Bitcoin (BTC) shatters the ceiling, reaching a new all-time high, with signs pointing towards further growth. Ripple’s (XRP) price, on the other hand, validates a multi-year triangle breakout, with potential to reach $3 or a new ATH. Meanwhile, Ethereum (ETH) records over 20% hike in a week, with predictions suggesting a climb to $4,000.

Historic Breakthrough for Bitcoin

Bitcoin continues to ride the bull wave, achieving a new record high of over $118,000. Several metrics indicate potential for further growth. In 2024, for instance, Bitcoin’s Market Value to Realized Value (MVRV) ratio reached beyond 2.7, while currently, it’s at approximately 2.35.

According to CryptoQuant, the short-term holder spent output profit ratio (SOPR) doesn’t reveal any “intense” profit-taking, leading to reduced sell pressure from these investors. The decreasing BTC amount on crypto exchanges further corroborates this trend. Over recent months, investors have been moving assets from centralized platforms to personal custody methods.

Not surprisingly, the crypto sphere is flooded with enthusiasts predicting more gains for BTC. User Captain Faibik forecasts a surge to $126,000, while OxNobler predicts a “super-cycle” leading to a valuation of $300,000.

Ripple (XRP) Also on the Rise

Ripple’s token has embraced the market’s green trend, reaching a two-month high of $2.60. It looks like a breakout from a multi-year symmetrical triangle that formed between 2018 and 2024, hinting at more substantial gains.

User Cryptoinsightuk suggests that breaking the $2.60 resistance level could pave the way for a rise to $3 and a new all-time high. However, investors should be wary of metrics indicating a potential short-term correction. For instance, XRP’s Relative Strength Index (RSI) has rocketed to 85, indicating overbought territory.

Ethereum’s (ETH) Impressive Run

The largest altcoin has shown a remarkable price increase of nearly 20% over the past week, now trading well above $3,000. Many analysts believe this rally is far from over. User Cipher X anticipates no “major correction” until $3,300-$3,400, while Ted believes ETH’s next stop is $4,000.

Despite the optimism, there are warning signs to consider. The Ethereum Foundation sold off 1,210 ETH for 3.5 million USDC at an average price of about $2,890. In the past, these sell-offs have often led to significant price pullbacks. However, there have been exceptions, like in November last year, when despite a selling spree, ETH’s price continued to rise, hitting $4,000 in December.

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Bitcoin experienced a fresh surge, crossing the $108,500 mark. The cryptocurrency is now trading above $108,500 and the 100 hourly Simple Moving Average. Furthermore, a key bearish trend line with resistance at $109,350 was broken on the hourly chart of the BTC/USD pair (data from Kraken).

Should Bitcoin maintain its position above the $108,350 zone, it could kickstart another increase. Post crossing the $107,500 resistance, Bitcoin breezed past several hurdles near $108,000, triggering a significant surge.

The bulls pushed Bitcoin into a positive zone above $108,500. The price gained momentum for a move above the 50% Fib retracement level of the downward move from the $110,515 swing high to the $107,299 low. In addition, the key bearish trend line with resistance at $109,350 on the hourly chart of the BTC/USD pair was broken.

Immediate resistance on the upside is near the $109,750 level, close to the 76.4% Fib retracement level of the downward move from the $110,515 swing high to the $107,299 low. The first crucial resistance is near the $110,000 level. If Bitcoin manages to close above the $110,000 resistance, the price could surge further. Under such circumstances, the price might aim for the $112,000 resistance level. Any additional gains might drive the price towards the $113,200 level, with the ultimate target being $115,000.

If Bitcoin is unable to surpass the $110,000 resistance zone, it could trigger another decline. Immediate support is around the $108,800 level, with the first significant support near the $108,350 level. The next support is approximately the $107,250 zone. Any further losses could drive the price towards the $106,400 support in the near term, with the main support at $105,000.

Technical indicators:

Hourly MACD – The MACD is now gaining momentum in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $108,800, followed by $108,350.

Major Resistance Levels – $110,000 and $110,500.

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Ethereum has exhibited resilience by maintaining above its short-term buffer zone, indicating that confident buyers are stepping in. Bullish momentum seems to be on the rise, particularly as the overall sentiment around risk assets begins to improve. However, contrarian views highlight declining volume and ongoing macroeconomic hazards, which could trigger a more extensive pullback if Ethereum cannot maintain its current price levels.

Supporting the bullish argument is new data from CryptoQuant, which reveals a robust accumulation trend among long-term Ethereum holders. The data suggests that significant buying pressure emerged during the recent consolidation phase, with hodlers steadily bolstering their positions. This discrepancy between price movements and accumulation activity indicates that Ethereum’s foundational support remains strong, even as traders eagerly await the next significant move.

Ethereum is grappling to recapture the $2,500 level, but its capacity to remain steady amidst current market volatility signals inherent strength. For several weeks, Ethereum has traded within a defined range of $2,200 to $2,800, with neither bulls nor bears able to establish decisive control. This extended consolidation period has postponed the highly anticipated altseason, which many believe will only commence once Ethereum surpasses key resistance and ascends into higher terrain.

Despite the absence of a clear trend, the macro setup is becoming increasingly intriguing. Global markets continue to be volatile, with fluctuating interest rate expectations, geopolitical risks, and unpredictable liquidity conditions creating a mixed bag of signals across risk assets. Yet, Ethereum persists to hold firm, backed not only by technical structure but also by significant activity from long-term holders.

Insights from CryptoQuant reveal a robust accumulation trend among Ethereum holders. Throughout the June consolidation phase, long-term investors consistently augmented their positions, despite the choppy price action. This divergence between price and accumulation volume signals growing confidence beneath the surface. When price consolidates while demand escalates, the result is often a powerful breakout.

With Ethereum sustaining crucial support levels and long-term accumulation rising, the stage may be set for a significant move. If Ethereum can surpass the $2,500 barrier and reclaim higher ground, it could trigger a broader altcoin rally. Until then, the market remains in a state of silent buildup. Ethereum is at the epicenter of the imminent big move.

Ethereum is presently trading at $2,470 after failing to sustain intraday gains beyond the $2,500 marker. The 12-hour chart shows Ethereum consolidating within a wider range, with $2,200 acting as a robust support and $2,800 as key resistance. Despite several bullish attempts, Ethereum has struggled to reclaim higher ground, with the rejection near the 100-period SMA (green line at $2,537) indicating persistent selling pressure near resistance.

The price currently trades above the 200 SMA ($2,170) and just below the 50 SMA ($2,507), which serves as a short-term resistance. This close positioning of moving averages suggests Ethereum is at a crossroads – either it breaks through the $2,500 resistance to aim for $2,600 and beyond, or it risks a downturn if bulls fail to maintain momentum.

Volume remains somewhat flat, suggesting indecision. The overall structure still leans towards a neutral-to-bullish bias, particularly if the price continues to close above the 200 SMA. However, a breakdown below $2,400 would heighten the risk of a retest of the $2,200 support zone.

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Bitcoin experienced a mere 6% dip from its peak at $112,000, which caused some experts to highlight the declining relative strength index (RSI) and predict a market peak. However, Titan of Crypto presents a counter-argument, insisting we are still entrenched in the bull cycle’s most vigorous phase.

Titan identified a consistent pattern in Bitcoin’s past two cycles. Each cycle started with a precipitous decline over approximately 13 months or 396 days. Looking back at 2014-15, Bitcoin’s value plunged from $1,240 to $161 during this period.

Subsequently, prices rallied for 35 months (1,065 days), peaking at $19,800 in December 2017. This pattern of a 13-month fall followed by a 35-month rise was repeated after 2018, ending with Bitcoin valued at $69,000 in 2021.

While some market observers see the declining RSI as an indication of Bitcoin’s zenith, Titan urges us not to overlook it as when momentum diminishes, price often takes a pause. He uses RSI, trading volume, and on-chain data to provide real-time demand analysis.

Current reports indicate the bullish phase of this cycle began in January 2023 and currently is in its 29th month. Bitcoin has seen a 530% surge since the inception of this cycle. If these trends continue, we can expect at least five more months of upward trajectory before reaching a potential peak around November.

Notable crypto industry leaders, including Samson Mow (Jan3 CEO), Raoul Pal (Real Vision), and Strategy’s Michael Saylor, predict Bitcoin values reaching between $500,000 and $1 million before any significant correction occurs. They attribute this to increasing institutional investments and a likely supply squeeze post the next halving.

Unlike previous rallies, Bitcoin now operates in tandem with ETFs, corporate purchases, and an increased number of traders analyzing on-chain signals. CoinCodex’s latest forecast anticipates Bitcoin’s value to increase by 5.73% to around $110,732 by July 19, 2025.

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However, the process presents a unique challenge due to XRP’s non-proof-of-stake nature. “Staking, which involves locking up tokens to support a proof-of-stake network, isn’t applicable to XRP,” McLoughlin explained. “Therefore, we’re looking for an alternative solution.”

Uphold is contemplating collaborating with Flare, a burgeoning DeFi ecosystem McLoughlin regards as “flourishing”. He elucidated, “Flare gives you the capacity to generate a wrapped version of XRP on the Flare network.”

Under the proposed model, once a user decides to stake XRP, Uphold would secure that amount in its XRP reserve. McLoughlin outlined the process, “We would then transmit a calculation of the value to the Flare blockchain and create a wrapped version of XRP, known as FXRP.”

Thanks to the ample liquidity on Flare, an XRP staking beta test is feasible. “The substantial liquidity in the pools makes it possible for us to consider launching a beta test for select users,” McLoughlin affirmed.

Uphold boasts over 10 million users across more than 140 countries. The firm recently launched a new debit card and a direct deposit bonus plan in the U.S., enabling users to earn a 4% XRP cash-back-style bonus.

However, launching an XRP staking program in the U.S. presents legal challenges. Uphold must ensure that wrapping XRP does not unintentionally create a security, violating the Howey Test. Despite these complexities, McLoughlin remains confident, “We are certain that we can pursue the wrapped XRP route in some parts of the world.”

Disclaimer: The Block is an independent media outlet delivering news, research, and data. Foresight Ventures, a majority investor of The Block, also invests in other crypto companies. The Block operates independently to provide objective and timely information about the crypto industry. This article is intended for informational purposes only and should not be used as legal, tax, investment, financial, or other advice.

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Renowned crypto analyst Gowanus Monster, in his latest XRP update, pointed out a crucial technical development. His analysis shows that XRP has formed a bearish Descending Triangle across various timeframes – a textbook pattern that usually indicates a continued downward trend. Based on the calculated move from this formation, the estimated target stands around $1.90, hinting at a considerable retracement if the bearish momentum persists.

Upon examining the weekly chart, a well-defined structure begins to emerge, characterized by distinct upper and lower boundaries. Gowanus Monster emphasized the importance of identifying a higher low within this channel. Additionally, he brought up a key observation: if a price rebound from the upper edge of a descending channel does not reach the lower edge but bottoms out prematurely, it often precedes a bullish breakout. If this happens, XRP might challenge the prevailing bearish structure and trigger a new rally beyond its channel.

According to crypto analyst GemXBT, XRP is currently in a short-term downtrend, with its price trading below the 5, 10, and 20-period moving averages. This pattern typically signifies continued bearish momentum, suggesting that sellers currently control the market. The Relative Strength Index (RSI) has entered the oversold territory, hinting at a potential reversal or a consolidation phase as the market balances out. However, the MACD line being below the signal line indicates that the bearish pressure is still strong, and any recovery attempt might face obstacles.

From a price structure perspective, GemXBT identified a crucial support around $2.15, which buyers might strive to protect. The resistance point is near $2.25, a level that bulls need to overcome to alter short-term sentiment. The recent increase in trading volume is noteworthy as it could lead to increased volatility, either quickening a breakdown if support fails or boosting a sharp recovery if sentiment turns positive.

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This dip follows the latest news of a US federal court reinstating former President Trump’s tariffs, leading to a short-lived risk-averse sentiment in the crypto realm. Despite this minor setback, ETH has seen a rise of about 45% over the last month, buoyed by the momentum accumulated earlier in the quarter.

Concurrent with this pullback is a significant bump in on-chain movements, especially concerning Ethereum’s transfer to crypto exchanges. On May 27, a substantially large ETH transfer to Binance was spotted, which has sparked caution among the CryptoQuant analysts observing potential profit-booking tendencies.

Alongside this, Bitcoin’s Net Unrealized Profit/Loss (NUPL) metric has reached a historically significant point, typically associated with market cooldowns, suggesting a possible shift in the broader sentiment.

As per CryptoQuant contributor, Amr Taha, Ethereum saw a massive net inflow of roughly 385,000 ETH to Binance starting May 27. This is considered one of the largest daily exchange inflows of the asset in recent times.

Such large-scale inflows are often seen as signs of increased selling intent, especially when initiated by major holders or institutional bodies. The massive movement of ETH to centralized exchanges might indicate preparations for providing liquidity or expected market turbulence.

Simultaneously, Bitcoin’s NUPL, a metric that calculates the difference between unrealized profits and losses relative to market cap, has nearly hit the 0.6 threshold. Historically, this point has served as a trigger where investors start realizing gains, typically resulting in price consolidation or downward pressure. Previous instances in early March and late 2024 witnessed NUPL at similar levels, followed by pullbacks in Bitcoin’s price, which also impacted the wider market trend.

Collectively, these factors indicate that market players are repositioning themselves amid rising uncertainty. Taha stressed that while the 385,000 ETH inflow to Binance and the NUPL’s increase to 0.6 are not definitive sell signals, they are certainly noteworthy.

During earlier cycles, similar patterns coincided with phases where investors decreased exposure or switched assets. With ETH hovering near local peaks, the possibility of short-term correction or sideways movement should not be ruled out.

Taha suggests that investors should closely watch exchange inflows along with NUPL and other on-chain metrics to accurately assess sentiment shifts. Moreover, changes in regulatory or macroeconomic narratives, such as US trade policies or overall equity market behavior, could further impact crypto price dynamics.

Despite Ethereum’s continued long-term strength, recent indicators hint at a period of caution and strategic reassessment in the short term.

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