The Crypto Basic

Charles Hoskinson has pushed back against criticism surrounding Cardano’s absence from the Open USD (OUSD) stablecoin consortium.
During a recent exchange on X, Hoskinson argued that ecosystem participants cannot criticize Cardano’s lack of involvement in major commercial initiatives while simultaneously voting against proposals specifically designed to create those opportunities.
Hoskinson’s remarks came in response to criticism from prominent Cardano DRep YODA. The DRep questioned why major Cardano-related organizations, including EMURGO, Cardano Foundation, and Input Output Global (IOG), were absent from the newly formed Open USD Consortium.
Notably, the consortium includes more than 140 institutional partners, among them Ripple, Mastercard, OKX, MoonPay, and Visa.
Hoskinson Calls for Governance Accountability
In response, Hoskinson stressed that governance participants must accept responsibility for the consequences of their voting decisions. According to him, the development teams invested hundreds of hours designing proposals intended to accelerate Cardano’s commercialization efforts. However, once those proposals entered the governance process, DReps voted them down.
“We put hundreds of hours, carefully proposing direct routes to commercialize Cardano. We brought it to a vote. You voted against it,” the Carano founder noted.
Hoskinson added that he does not care about the reasons behind those decisions because DReps ultimately own the outcome of their votes.
“I don’t care about your reasons. You own the vote,” he remarked.
Commercial Partnerships Require More Than Membership: Hoskinson
Meanwhile, Hoskinson argued that joining initiatives such as the Open USD Consortium is relatively straightforward. The more difficult challenge, he said, involves deploying capital and building the financial infrastructure necessary to support those partnerships.
As part of that effort, he pointed to his proposal for a managed sovereign wealth fund capable of providing liquidity, minting stablecoins, and financing ecosystem growth initiatives. Hoskinson also highlighted several projects that he believes form the commercial backbone of the Cardano ecosystem, including RealFi, Midnight, Blockfrost, and Pogan.
According to him, these initiatives provide the infrastructure upon which larger commercial integrations can be built.
Governance Tensions Continue Across the Ecosystem
The latest dispute further highlights the governance tensions that have dominated much of the year within the Cardano ecosystem.
The disagreements contributed to the cancellation of several IOG funding proposals, including research and development funding for Blockfrost and the Cardano Summit 2026.
Amid the ongoing debate, Hoskinson recently advocated for governance reforms. His proposals include moving Cardano governance discussions to a moderated Discord server, becoming a DRep himself to participate directly in voting and improve accountability, and revising the ecosystem’s constitution.
#CryptonewswithJack

#XRP has now closed below the 200-week moving average for the first time since the 2024 rally, confirming the overall bearish market trend.
This move comes during the ongoing downtrend that started in Q4 2025 and has now lasted for ten months. Despite the decline, past trends suggest that a drop below this major moving average after an uptrend can indicate that a possible bottom may be forming.
However, it does not necessarily mean prices will recover right away. In most cases, this phase represents a change toward stabilization, not an immediate rebound.
XRP Closes Below 200WMA
Specifically, in the first week of June, XRP closed at $1.155, while the 200-week moving average stood at $1.189, confirming the breakdown.
This marked the first time XRP traded below this level and the first weekly close under it since the first week of November 2024, just before the Donald Trump-led market rally.
The 200WMA represents the average price over about four years of weekly closes, and this makes it an important long-term benchmark. When prices stay below it, it shows that most medium- and long-term holders are now holding at a loss.
Since the breakdown, XRP has now spent three weeks below the 200WMA and is heading into a fourth week. At the time of writing, XRP trades at $1.0584, while the moving average has climbed to $1.20.
The 200WMA has also flipped from dynamic support to resistance. This means that if price moves back toward it, sellers are more likely to step in, which could limit any short-term recovery attempts.
How XRP Behaved in 2022
A similar breakdown occurred during the Terra ecosystem collapse in May 2022, when XRP closed below the 200WMA in the second week of May 2022 for the first time in over a year.
After that, XRP remained below the moving average for five weeks before reaching a cycle low of $0.28 in June 2022.
Although this level marked the bottom, recovery did not happen quickly. Specifically, XRP did not begin a clear uptrend until November 2024, more than two years later.
During that time, the price oscillated above and below the 200WMA multiple times before finally breaking above it during the November 2024 rally, which confirmed a stronger trend.
XRP’s 2019 Case
Before that, XRP showed a similar pattern in August 2019, when it closed below the 200WMA after an uptrend. It then stayed below the moving average for five weeks and reached a low of $0.22 in September 2019, which seemed like a bottom at the time.
However, the recovery that followed this floor price failed, and XRP dropped below the moving average again, eventually falling further to $0.11 in March 2020, about seven months after the initial breakdown.
XRP Closes Below 200WMA
Nonetheless, most analysts see this as an exception because it was caused by the COVID-19 market crash, an unexpected global Black Swan event.
Meanwhile, after reaching the $0.11 bottom in March 2020, XRP eventually staged a recovery effort. The price later moved back above the 200WMA in January 2021, which led to a strong rally that pushed the asset up to $1.96 by April 2021.
Is This a Buying Opportunity?
If no major external shock occurs, XRP could follow the 2022 pattern, where it formed a bottom within a few weeks after falling below the 200WMA.
However, history shows that reaching a bottom does not mean a new bull run will begin immediately. In the 2022 cycle, XRP still spent nearly two years moving around the 200WMA, struggling to stay above it before finally breaking out.
For now, even if XRP finds a bottom soon, the market may only see short-term relief rallies instead of a strong recovery. A longer period of sideways movement could come before any clear uptrend begins.
#CryptoNewsCommunity

#XRP recently posted the lowest monthly Relative Strength Index (RSI) reading in its entire history amid the steep June 2026 price crash.
Specifically, in June 2026, XRP’s monthly RSI closed at 40.59 after the price dropped by 21.97% during the month. This decline marked XRP’s biggest monthly loss since February 2025 and showed how strong the recent downward pressure has been.
The RSI level of 40.59 is especially important because it marks XRP’s steepest ever monthly reading, even lower than what XRP recorded during major bearish periods, including the COVID crash in March 2020 and the Terra ecosystem collapse in May 2022.
Interestingly, XRP has managed to stay above the pivotal $1 price level despite the deeply oversold RSI. Notably, the price closed June at $1.03. So far in July 2026, XRP has seen a slight bounce to $1.05, but the RSI remains weak at 40.97 at press time. This suggests that while the price has stabilized a bit, momentum is still low.
When XRP RSI Floor Came Before Upward Rallies
Historical data shows that when XRP’s monthly RSI falls to such low levels, it often indicates that the market is close to the cycle bottom or a rebound may be imminent.
For instance, in October 2024, XRP dropped by 16.74%, which pushed the Relative Strength Index down from 52.57 in the previous month to 48.27.
Soon after, the market turned upward in November 2024, triggered by strong bullish sentiment following Donald Trump’s election victory. XRP eventually climbed from $0.50 at the October close to a high of $3.4 by January 2025.
Another example comes from February 2017, when XRP declined by 12.28%, bringing the RSI down to 47.18. Although the cycle bottom had already formed at $0.0030 in January 2017, the drop in RSI still came just before a strong rally.
Starting in March 2017, XRP pushed higher and eventually reached $3.31 in January 2018. During this period, the price increased by more than 59,000%.
When XRP RSI Floor Marked Cycle Bottoms
In other cases, the steep RSI drop marked the cycle low. For instance, in June 2022, XRP fell by 21.01% during a wider market downturn caused by the Terra collapse in May 2022.
During that period, the RSI dropped to 43.91, which was its lowest level at the time. Interestingly, this RSI floor also coincided with XRP’s bottom of $0.28 in that same month.
Although a full recovery took nearly two years, the price never went below $0.28 after June 2022, with the market recording several short-term rallies before the stronger move in November 2024.
XRP Monthly RSI
In addition, XRP showed similar behavior during the COVID crash in March 2020. Notably, the price fell by 24.06% that month, coinciding with an RSI drop to 43.75.
Just like in June 2022, the RSI drop in March 2020 occurred alongside XRP’s cycle low of $0.1140 during that downturn. In the months that followed, the market gradually improved, leading to a peak of $1.96 by April 2021.
XRP Now Deeply Oversold
Now, with the RSI at 40.59 in June 2026, XRP is again in a zone that has often appeared near major turning points. The recent June 2026 low of $1.0079 could mark the bottom of the current downtrend, or the RSI floor could mean that a recovery may begin soon.
Another momentum indicator confirms XRP’s oversold position. Notably, the Commodity Channel Index (CCI) dropped to -134.61 in June 2026, its lowest level since the COVID crash in March 2020, about six years ago.
What stands out is that XRP has reached these levels while still holding above $1. If past patterns play out again, this could set the stage for a recovery. Such a move could even push XRP toward a new all-time high.
That said, the broader market still looks weak, and this could delay any recovery. While history suggests that very low RSI levels often come before a rebound, it is still unclear when the move might begin.
#CryptoNewss

The stablecoin market on the #Cardano network recorded a double-digit increase over the past week, pushing its valuation above the $60 million mark.
According to data from DeFiLlama, Cardano’s stablecoin market cap climbed to $60.39 million, representing a 14.67% increase over the past seven days. The rise marks one of the strongest short-term expansions in the network’s stablecoin sector in recent months and signals increasing participation in Cardano’s decentralized finance ecosystem.
Cardano Stablecoin Market Cap Soars
USDCx Fuels Cardano Stablecoin Valuation
The surge came only days after an unidentified user bridged more than $10 million worth of USDCx onto the Cardano blockchain. Several ecosystem participants highlighted the transaction, including Cardano DeFi aggregator DEX Hunter.
Meanwhile, additional USDCx tokens have continued to enter circulation on Cardano. Data shared by SNEK co-founder Rami indicates that roughly $4.5 million worth of USDCx was minted on the network within two days, further strengthening stablecoin liquidity. As a result, the fresh capital inflow has deepened liquidity across the ecosystem.
USDCx, the Circle-backed stablecoin introduced to Cardano earlier this year, has quickly established itself as the dominant stable asset on the network.
Currently, USDCx commands a market share of 59.38%, accounting for $35.85 million of Cardano’s total $60.39 million stablecoin market cap. The rapid growth highlights increasing adoption of the asset as users seek seamless access to cross-chain liquidity within the ecosystem.
Stablecoin Growth Supports Total Value Locked
The rise in stablecoin liquidity also lifted Cardano’s total value locked (TVL), which climbed to approximately $82 million earlier this week before retreating to around $75 million following the latest decline in ADA’s price.
Despite the pullback, analysts believe the recent increase in stablecoin reserves provides a stronger foundation for future DeFi expansion on the network. Cardano research analyst Dr. Cuadrado believes the recent influx of stablecoin liquidity marks the beginning of a major growth phase for the ecosystem.
According to him, the most explosive stage of the current bull market could begin once Cardano’s stablecoin market cap surpasses its total value locked. He argued that such a development would signal the presence of excess liquidity waiting to be deployed across decentralized applications.
In his view, higher stablecoin reserves would lead to deeper liquidity pools, increased borrowing and lending activity, larger trading volumes, and more attractive yield opportunities across the network.
ADA Remains Under Pressure Despite Improving Fundamentals
Meanwhile, ADA continues to face bearish pressure despite the improvement in on-chain metrics. The asset has gradually slipped down the global cryptocurrency rankings and currently stands as the world’s 18th-largest crypto by market cap.
At press time, ADA had a market valuation of $5.53 billion and traded at $0.1519 per token, representing a 35.43% decrease over the past month.
#CryptoNewsFlash

#XRP is approaching a critical turning point as technical indicators and on-chain data send mixed signals.
Several chart patterns suggest a short-term rebound may be forming. However, continued whale selling and a key support test indicate volatility could remain high in the days ahead.
Technical Indicators Suggest a Short-Term Rebound
XRP has flashed two bullish signals on the daily chart. The first is the Tom DeMark Sequential buy signal, which has printed a “9” candlestick. Historically, this pattern has preceded one to four days of relief rallies after extended selling pressure.
XRP has also formed a Morning Star Doji pattern over the past three daily sessions. This candlestick formation is a sign that bearish momentum is fading and a local bottom may be developing.
If buying volume strengthens, XRP could rebound toward $1.27. A move to around $1.35 is also possible.
Rising Network Activity Supports the Bullish Case
On-chain data from Santiment also points to improving network activity. Daily active XRP addresses have increased sharply over the past two weeks. The number rose from about 23,000 on June 14 to nearly 40,000 by June 28. That represents an increase of roughly 50%.
Notably, the rise suggests more users are interacting with the XRP Ledger. Higher address activity is a sign of improving network health and can sometimes precede stronger trading interest.
Whale Selling Remains a Headwind
Despite the increase in network activity, large XRP holders continue to reduce their positions. Santiment reported on June 19 that whales sold more than 30 million XRP over a five-day period.
The firm suggested the recent rise in active addresses may partly reflect whales moving tokens to exchanges rather than broad retail participation. If whale selling continues, it could offset the bullish technical signals and keep pressure on the price.
$1.06 Becomes the Key Level to Watch
On-chain data from Glassnode identifies $1.06 as XRP’s most important support level. According to the firm’s UTXO Realized Price Distribution (URPD) data, more than 830 million XRP previously changed hands at this price. That makes it a significant area where buyers may try to defend the market.
If XRP stays above $1.06, the recent buy signals could gain confirmation. That could open the door to a move toward $1.27 and possibly $1.35.
However, a daily close below $1.06 could trigger a deeper correction. The next major support levels are around $0.80, $0.62, and $0.51, where large amounts of XRP were previously traded.
BITSTAMP:XRPUSD Chart
Channel Resistance Keeps Bears in Play
The broader technical picture remains cautious. XRP recently hit resistance at the upper boundary of its trading channel. It has since started moving back toward the middle of the channel.
That area overlaps with the $0.70-$0.80 support zone, making it another important level if $1.06 fails to hold.
#CryptonewswithJack

Shiba Inu layer-2 blockchain, Shibarium, is facing scrutiny as on-chain data highlighted slowing network activity, limited token burns, and stagnant holder growth.
The slowdown comes as SHIB’s price continues to underperform. The meme coin is trading at low levels last seen in 2021, while investor attention shifts toward artificial intelligence-related crypto projects.
Shibarium Network Activity Cools
Recent data from ShibariumScan suggests network activity has slowed considerably compared to the expectations that surrounded Shibarium’s launch.
The blockchain has processed more than 1.56 billion transactions and created nearly 270 million wallet addresses since going live. However, daily transaction volume has fallen to around 1,170 transactions. That marks a sharp decline from earlier periods of stronger activity.
The slowdown has fueled concern within the Shiba Inu community.
Source: https://shibariumscan.io/
Shiba Inu Burns Fall Short of Expectations
Critics have also pointed to the pace of SHIB token burns. According to Shibburn data, about 410.84 trillion SHIB have been burned since the token launched. That represents roughly 41.08% of the original 1 quadrillion supply.
However, burn activity linked specifically to Shibarium remains relatively modest. Around 1 billion SHIB have reportedly been burned through the layer-2 network, despite expectations that Shibarium would significantly accelerate the burn mechanism.
Recent burn data shows about 2.32 million SHIB were burned over the past 24 hours. Around 19.35 million were burned during the past week, while roughly 110.02 million were removed over the last 30 days.
Supporters have long viewed Shibarium’s ecosystem as a catalyst for increasing SHIB burns through transaction fees. So far, however, burn levels remain well below expectations seen when the network launched.
Source: https://www.shibburn.com/
Holder Growth and Price Remain Weak
Critics also argue that wallet growth has stalled. SHIB’s holder count has reportedly remained around 1.5 million for roughly 18 months.
SHIB’s price has also stayed under pressure. The token is trading at approximately $0.0000054. It is down 5.5% over the past week, 22% over the past month, 63% over the past year, and about 95% below its all-time high.
The combination of slowing network activity, modest burn rates, stagnant holder growth, and a declining price has led some market participants to question whether Shibarium can still become the ecosystem’s long-awaited utility engine.
Others remain optimistic. Future ecosystem upgrades, new decentralized applications, additional partnerships, and a crypto market recovery could revive activity.
#CryptonewswithJack

#XRP has dropped 70% from its all-time high amid a prolonged sideways trend, but history highlights a more concerning recurring trend.
The July 2025 all-time high of $3.66 not only marked a new all-time high for XRP but also the price peak for the bull cycle. Since it reached this level, the sixth-largest cryptocurrency by market cap has only trended lower to multi-year levels.
Currently at $1.04, XRP has now dropped 71.4% from the peak price, a correction only seen in deep bear market cycles. Meanwhile, a recurring trend that has historically followed such a retracement suggests the storms might not be over for the altcoin.
XRP 1M Chart/TradingView
What Past Events Show About a 70% Drop
A 70% decline from its peak is not unprecedented for XRP. In fact, after every major bull market in the historical four-year cycle, the asset has experienced corrections of similar magnitude.
But does a 70% pullback from its peak price mean that XRP is nearing its bottom? Past events suggest otherwise.
Take, for instance, in 2018, when XRP peaked at $3.35 in January 2018. By February that same year, it had dipped to a low of $0.56 before closing at $0.88. From the peak price of the previous month to its February 2018 closing price represented an approximately 74% drop.
But that didn’t mark the bottom. XRP collapsed even further over several months to the bear market low of $0.10 in March 2020. That represented an approximately 90% decline from the February closing at $0.88. This resulted in another 90% drop after the initial 74% retracement.
Notably, this similar pattern repeated in the previous full market cycle. XRP reached a peak of $1.97 in April 2021. Two months later, the coin had dipped to a low of $0.508, representing a 74% decrease from the cycle’s high.
The dip didn’t stop there, as XRP continued to decline substantially. The asset finally bottomed at $0.28 in June 2022, a further 45% retracement after the initial 74% correction.
Will the Concerning XRP Trend Repeat?
With XRP dropping 71.5% from its July 2025 high at the current market price, analysts believe the dip might not be over, especially going with past precedents. Notably, the first event saw a 90% drop after the initial decline, and the second event saw half of the first drop at 45%.
If the pattern repeats, then XRP could drop by another 25% to 30%, taking its price to around $0.78 to $0.73. Notably, this outlook hinges completely on recurring market behaviors, and there is no certainty to it.
Moreover, there are conflicting outlooks. Recall that the initial drop in past events happened within the first two months of the peak. This time, it took XRP 11 months to retrace by 71% from the peak.
Again, XRP crashed to $0.77 on Binance during the October 2025 flash crash, representing a 79% dump from the current ATH. Analysts argue this might pass for the initial dump, and the current dip is the latter part of a corrective phase rather than the start.
How XRP develops in the coming weeks will confirm which theory is correct. For now, the broader trend is bearish, with XRP holding above the $1 support nicely. Losing this demand zone opens the possibilities of a deeper correction.
#CryptoNewsFlash

XRP is seeing growing activity in the derivatives market despite recent price weakness.
The development suggests it could be setting up for a reversal once bearish sentiment reaches an extreme. The token is trading at $1.05, up 2.45% over the past 24 hours.
However, XRP is still down 8% over the past week and has fallen 43% since the start of the year, reflecting broader weakness across the crypto market.
Open Interest Rises as Price Declines
XRP’s open interest has continued to rise even as its price trends lower. Over the past day, XRP open interest rose by 1.13%, reaching $2.37 billion. This figure suggests traders are opening new leveraged positions during the decline. Notably, open interest options dipped 67% to $21.66 million while options volume surged 16% to $5.4 million.
XRP | CoinGlass
The accompanying chart shows XRP futures open interest steadily increasing over recent months. Meanwhile, the token has continued to post lower highs and lower lows.
Funding rates have also turned negative. This means short traders are paying long traders to keep their positions open, a sign that bearish sentiment is becoming more dominant in the perpetual futures market.
Negative Funding Could Support a Rebound
Rising open interest and negative funding are creating conditions that may support a potential reversal. The market appears to be “charging up for a reversal,” one analyst observed. However, buyers may need to regain momentum before bulls can take control.
Negative funding rates can sometimes precede sharp rallies. If the price suddenly rebounds, heavily leveraged short positions may be forced to close, triggering a short squeeze that pushes prices even higher.
Possible Sweep to $0.95
Despite the longer-term bullish outlook, XRP could first revisit $0.95. Many market watchers, including Ali Martinez, have forecast a fall to this level and even lower.
The idea is that the market may target liquidity below current prices before reversing. Such liquidity sweeps happen when the price briefly moves into areas with large clusters of stop-loss orders. This can flush out excess leverage before a new trend begins.
If buyers step in after that move and overall sentiment improves, XRP could be positioned for a stronger recovery.
The Case for Deeper Bear Markets
Notably, XRP is down about 69% from its July 2025 peak of $3.66. While significant, this decline is milder than past bear markets, which saw drops of 85%–96%, such as in the 2013–2014 and 2018–2020 cycles.
If XRP matched its worst historical drop (96%), the price could fall near $0.15, about 87% below current levels. Ali Martinez recently floated this target as a possibility, which would place XRP at a level last seen in 2017.
Regardless of how low the coin may go, many believe buying XRP under $1 offers significant opportunity for the next bull run.
#CryptoNewsCommunity

Trading activity across the decentralized finance (DeFi) ecosystem on Shiba Inu’s L2 blockchain, Shibarium, has disappeared, as DEX volume currently sits at zero.
At press time, Shibarium DEX volume stood at zero, according to data from DeFiLlama, reflecting extremely weak on-chain participation.
Zero Trades Since June 23
Decentralized exchanges operating on Shibarium, including WoofSwap and ShibaSwap, have recorded no trading activity since June 23. The last recorded DEX transaction on the network occurred on June 22, when traders exchanged just $60 worth of assets.
Furthermore, throughout most of June, daily trading volumes on these platforms remained below $100, underscoring the lack of activity across the ecosystem. The slowdown highlights Shibarium’s struggle to attract meaningful DeFi adoption since its launch.
Shibarium DEX Volumes
Dwindling DEX Activity
After the mainnet went live in August 2023, the network initially showed encouraging signs of growth. DEX volume reached $6,800 in October 2024 before climbing to $54,000 in December 2024.
However, activity weakened in the following months. Although the development team attempted to revive optimism by promising faster ecosystem growth and higher DEX participation, trading activity continued to decline.
Shibarium briefly recovered in September 2025, when DEX volume rose to $47,000, before reaching a cycle peak of $86,000 in December 2025. Since then, trading activity has entered a prolonged decline, with many days registering no transactions at all across Shibarium-based DEXes.
Since October 2024, Shibarium’s decentralized exchanges have processed a cumulative $2.66 million in trading volume. That figure remains lower than the amount of DEX volume established networks such as Ethereum and Solana regularly process in a single day.
One major reason behind the weak on-chain metrics is that most trading involving Shiba Inu ecosystem tokens still occurs on centralized exchanges rather than on Shibarium’s native applications.
At press time, SHIB generated $56.4 million in 24-hour trading volume, with most transactions taking place on centralized platforms such as Binance and Coinbase.
Total Value Locked Remains Modest
Despite weak trading activity, Shibarium’s total value locked (TVL) currently stands at $21,495, representing a 1.89% increase over the past 24 hours. While the increase suggests some capital remains within the ecosystem, the figure remains modest compared to competing DeFi networks.
Meanwhile, overall network usage continues to weaken. Shibarium currently processes only 889 daily transactions, with smart contract interactions accounting for most of that activity. The trend suggests that user engagement across the network remains limited and that DeFi adoption on Shibarium has yet to gain meaningful traction.
#Crypto