Crypto news and prices of GRASS, BONK, and Ripple (XRP)

How are the crypto TouchGrass (GRASS), Bonk (BONK), and Ripple (XRP) performing?

Let’s see below an overview of prices and the latest news involving them.

The price of the Grass crypto compared to Bonk and Ripple 

Currently, the value of Grass (Grass/SOL) on Raydium is $0.000002512, recording a negative change of -2.48% in the last 24 hours.

In the same period, the trading volume amounted to $3,405.53, with a total of 125 transactions. 

We remind you that the fully diluted valuation (FDV) is $25,104.30, while the liquidity pool stands at $19,100.65.

The maximum price of Grass/SOL in the last 24 hours was $0.000002936, while the minimum was $0.000002471. 

Finally, we see that the total amount of Grass is 3,793,736,653.76 ($9,550.32), with a grouped amount of SOL equal to 90.51 ($9,550.32).

BONK: rally of 278.5%

Bonk has recently experienced a significant increase of 278.5% between December 13th and 15th, followed by a decline of 55.5% in the last two weeks.

Despite this decline, the bulls remain optimistic, considering the recent price crash as a significant pullback. 

A report by AMBCrypto has indeed highlighted a decrease in trading volume in spot markets, but the six-hour price chart suggests that buyers still maintain some control.

The price of BONK, currently at about $0.0000155, is near the support level of $0.0000147, corresponding to the 78.6% retracement. 

The area of $0.000014, previously resistance, now acts as a demand zone. 

Although the OBV shows a decrease in twelve days, the selling pressure does not seem excessive compared to the increase seen in December. 

Despite the bearish structure in the 6-hour chart with an RSI at 34, there could be a buying opportunity if the $0.000014 area is revisited. 

As a result, this would offer a favorable risk-reward ratio with a stop-loss at $0.000012.

Ripple and stability strategies in the market 

In December 2023, Ripple (XRP) carried out a significant transaction involving 240 million XRP, equivalent to approximately 148.80 million dollars.

This maneuver aimed to strategically manage the reserves deposited as collateral, leaving 96.34 million XRP in Ripple’s main spending wallet, referred to as “Ripple (1)”. 

This balance, with an estimated value of 59.73 million dollars, aims to stabilize the XRP market.

The meticulous management of XRP reserves is part of Ripple’s broader strategy to stabilize the cryptocurrency market.

 The escrow system, launched in December 2017, releases 1 billion XRP monthly. 

Ripple locks 80% of these tokens in the collateral deposit, reinvesting the majority of the remaining 20% in its main wallet. 

This approach balances the circulation of XRP tokens, mitigating the risk of oversupply.

Ripple transactions in December 2023 were made in three separate batches. 

Specifically, receiving initially 200 million XRP on December 1st and distributing 60 million on December 6th, 60 million on December 12th, and 120 million on December 20th. 

These operations have resulted in the expenditure of 240 million XRP, reducing the balance in Ripple’s main wallet to 96.34 million XRP.

At the same time, in December 2023, XRP marked a significant trend reversal, recording a gain of 5.18%. 

This indicates the resilience of XRP in the volatile cryptocurrency market and suggests a potential revitalization of its presence in the coming months.