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"SUI Plunges Toward $3.80—Is a Massive 17% Crash Imminent?"

The Crypto Basic

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#SUI breaks below $3.80 with bearish signals flashing, yet on-chain data shows record growth in users and TVL. Will fundamentals overpower fear? 

Read more on: https://thecryptobasic.com/2025/05/15/sui-slides-below-3-80-is-a-17-crash-on-the-horizon/
#CryptoNewsCommunity 

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#VeChain is forming a bullish pattern with a potential 89% upside. The VET price is eyeing a major breakout rally if it reclaims the $0.032 neckline. As altcoins struggle amid Bitcoin’s drop below $103,000, VeChain has declined nearly 10%. This marks a short-term pause in VET’s breakout rally, with the price struggling to hold above the key psychological level of $0.030. Can the short-term pullback reverse and rally toward $0.050, as VeChain shows strong underlying potential? VeChain Price Analysis VeChain jumped 27% last week as the broader market recovered. In the daily chart, the move confirmed the breakout of a falling channel pattern, indicating a renewed bullish trend. The uptrend surpassed the 200-day EMA momentarily to test the 38.20% Fibonacci level near $0.032. However, the increased selling pressure at higher levels has led to a pullback in VET price to $0.029, with an intraday pullback of 4.65%. At present, the altcoin holds above the 100-day EMA, and the short-term surge in bullish influence teases a positive crossover between the 50 and 100 EMA lines. However, the bearish reversal from the 38.20% Fibonacci level warns of a negative crossover between the MACD and signal lines. Hence, the technical indicators maintain a contrary viewpoint on the VeChain price trend. Inverted Head-and-Shoulders Pattern in Play Looking at the long-term price action, VeChain appears to be forming an inverted head-and-shoulders pattern, with the neckline at $0.032. If the price rebounds from the 23.60% Fibonacci level and challenges the neckline, a breakout could send VeChain soaring. VET Price Targets According to the pattern, VeChain could rally by 89%, targeting the $0.061 level. Based on Fibonacci extensions, this move would surpass the 78.60% retracement level at $0.058, highlighting strong upside potential with the current shift in momentum. On the downside, if VET fails to hold above the 23.60% Fibonacci level at $0.026, the bullish pattern will be invalidated. This would increase the likelihood of a pullback toward the $0.023 support level. #CryptoNewss

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#Cardano founder Charles Hoskinson is launching a VC-free token distribution across eight blockchains, including the XRP Ledger, with the aim of ending “crypto tribalism.” At Consensus 2025 in Toronto, Hoskinson reiterated the groundbreaking airdrop, dubbed the Glacier Drop, as part of the rollout for Midnight, Cardano’s upcoming privacy-focused sidechain. The airdrop will target 37 million addresses across eight major blockchains, including holders of XRP, Bitcoin, and Cardano itself. The Glacier Drop will distribute two native Midnight tokens: NIGHT, a governance token, and DUST, for private transactions. No Venture Capital, No Insiders: Only Retail Users Departing from traditional token launches, Hoskinson confirmed that no venture capitalists or early insiders will receive Midnight tokens. He called attention to the airdrop’s simplicity and fairness during the event. Specifically, the system will allocate the airdrop to retail users. Hoskinson described the move as a principled stand against what he called “VC Ponzi” dynamics in crypto. Notably, token recipients will be free to trade, keep, or discard the assets. Aiming to End Crypto Tribalism Midnight’s Glacier Drop spans eight networks: Cardano, Ethereum, Solana, Avalanche, XRP Ledger, Bitcoin, BNB Chain, and BAT (Basic Attention Token). Hoskinson hopes to move beyond the tribalism that often divides crypto communities by bridging these ecosystems. “Every Consensus, there is a new token shouting ‘my thing is better than yours,’” he remarked, calling for a change from competitive to cooperative economics. Other industry leaders like Ripple CEO Brad Garlinghouse and attorney John Deaton are also advocating for collaborative efforts over the typical rivalry that has plagued the crypto ecosystem. They stressed that the industry grows stronger through unity rather than existing in separate factions... #Crypto

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A prominent crypto whale has drawn attention by opening a long position on #XRP with $12 million. According to data from blockchain analytics firm Lookonchain, the whale first capitalized on Ethereum’s early May 2025 rally, securing over $10 million in unrealized gains. However, the focus shifted to XRP, as the same entity recently initiated a long, $12 million leveraged position in the asset. This XRP bet, placed just hours before Lookonchain’s update on May 12, 2025, accumulated over $260,000 in paper profits. Gains on Ethereum Set Stage for XRP Long The whale’s Ethereum strategy unfolded early in the rally, as ETH climbed from around $1,800 to above $2,500 within less than a week. By May 11, Lookonchain confirmed that the trader’s long ETH position had yielded a substantial unrealized profit of more than $10 million. This successful execution appears to have laid the groundwork for the next strategic step. Now, the same whale shifted focus to XRP, opening a 2x leveraged position valued at nearly $12 million. This XRP position has quickly become profitable. Within eight hours, the trade was already up by $261,000. Over the past seven days, XRP posted an over 10% increase, moving from $2.1 to $2.4. Anticipating XRP’s explosive Rally Essentially, this positioning suggests this entity is anticipating XRP’s explosive growth, as the coin has yet to capitalize on the ongoing bull momentum in the market. Despite a modest price increase of over 11% in the past week, XRP has remained relatively subdued compared to earlier market surges. Recall, XRP saw a strong rally that peaked in January 2025, briefly pushing its price above the $3 mark. Following that high, the asset entered a corrective phase, even slipping below the $2 threshold around April. #Crypto

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