The Mexican currency in international markets stands at 16.87 pesos per wholesale dollar, which means an appreciation of 0.54% or 9 cents compared to the previous day, according to information from Bloomberg.
In the overnight session, the exchange rate showed volatility with a bearish bias. This Friday, the peso found support in a better-than-expected reading regarding local investment during February.
In addition, it was favored by a decline in the dollar after learning of the weak growth of the US labor market in April, which could put pressure on the Federal Reserve’s objective of maintaining high rates for a prolonged period, Monex specialists explained.
The Dollar Index, which compares the behavior of the US currency against the other six main currencies in the world, dawns with a depreciation of 0.7%. The euro rises 0.6% against the greenback, while the pound gains 0.7%.
Bitcoin, the currency with the largest assets in the cryptocurrency market, advances 2.8%, maintaining investor appetite.
Business reports generate optimism in international markets
At the end of the week, global stock markets show positive movements, after knowing employment figures in Europe and the United States, which could modify expectations about monetary policy.
Additionally, optimism was favored by the reporting season, after an attractive recovery in Apple’s performance in China, in addition to a share buyback announcement, which becomes the largest in the history of the United States.
On Wall Street, the futures of the main stock indicators point to a positive opening, highlighting the 1.6% rise in the Nasdaq.
In Europe, the stock markets present positive movements, where the Euro Stoxx 50 operates with an advance of 1.0%, while in Asia the markets closed mixed, the Nikkei lost 0.1% and the Han Seng gained 1.7%.
The price of US WTI oil, the reference for the Mexican mix, advanced 0.5%, stopping four sessions of losses, but outlining its strongest weekly fall since February, largely due to lower geopolitical premiums associated with the Middle East.
Uncovering the Reasons Behind 860,000 XRP Investors’ Choice of Altcoin This Month
Increasing Number of XRP Whales Despite Price Decline
- Surge in XRP Whale Population
- Contrary to Market Trends
The quantity of XRP investors holding between 1,000 and 1,000,000 tokens has surged in the past month, despite the drop in the altcoin’s value. This information is based on data from Santiment for the specified period.
According to Santiment, this group of XRP holders reached 860,000, marking a 0.23% increase in the last 30 days.
This rise, though small, is noteworthy as it comes after a significant drop in the number of XRP whales in this investor category.
Data indicates that at the start of the year, the count of XRP whales holding between 1,000 and 1,000,000 XRP tokens was 867,000. This figure gradually decreased to a low of 858,000 by 3 April, before starting to rise again.
Exploring XRP’s Potential
The surge in the number of whales holding an asset often precedes a price rally. Despite XRP’s recent 7% value decline due to market conditions, there remains a consistent demand for the altcoin among investors.
XRP’s Market Cap Analysis in BTC Terms
One of the key indicators showing positive momentum for XRP on the daily chart is the Chaikin Money Flow (CMF). Despite the price decline, the CMF has been trending upwards, indicating a potential bullish trend.
Money flow indicators track the movement of funds into and out of an asset. A bullish divergence occurs when the money flow increases while the asset’s price decreases. This suggests that buyers are accumulating the asset despite the price drop, possibly viewing it as a temporary decline or a buying opportunity.
Although XRP has experienced a decline, the rising CMF signals that if buying pressure continues to strengthen, it could outweigh the selling pressure, leading to a price increase.
The recent position of XRP’s MACD line (blue) crossing above the signal line (orange) on 21 April indicates a potential short-term price hike. When an asset’s MACD line is above the signal line, it signifies a bullish trend and increasing market momentum.
However, the MACD and signal lines for XRP are still below the zero line, indicating a prevailing bearish sentiment in the market.
Additional Insights
- Current statistics show that XRP’s market cap in BTC terms is a crucial factor to consider for investors.
- Analyzing the flow of money into an asset can provide valuable insights into market sentiment and potential price movements.
- Monitoring momentum indicators like the CMF and MACD can help traders make informed decisions based on market trends.
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Uncovering the Reasons Behind 860,000 XRP Investors’ Choice of Altcoin This Month
Detected many violations at gold shops, fined nearly 3 billion VND
The Market Management Force will continue to implement Official Dispatch No. 23/CD-TTg of the Prime Minister on strengthening gold market management measures.
According to information from the General Department of Market Management, in the first 4 months of 2024, market management forces across the country discovered 145 violations at gold shops, with a total value of infringing goods of nearly 6.8 billion VND. billion VND, administrative fines of nearly 3 billion VND.
Market management forces inspected a gold shop in Hanoi
Typically, the Department of Market Management of Tien Giang province inspected and discovered 5 cases of violation, handled 1 case (4 cases are completing handling documents), the total value of infringing goods is over 1.8 billion VND. Among them, Kim Huong Dinh Gold Shop in Long Xuyen City has many gold and white gold products being sold that show signs of violation.
According to the General Department of Market Management, one of the most detected violations in recent times is gold shops selling jewelry with signs of counterfeiting many famous brands.
Common trademark counterfeiting violations for jewelry items that have recently been discovered include engraving protected trademarks on jewelry, manipulating jewelry parts containing protected trademarks. .
Accordingly, engrave the Louis Vuitton, Hermès, Chanel, Dior… trademarks on the product or create pendants, rings, and earrings with designs identical to the currently protected trademark.
The General Department of Market Management also stated that violations of intellectual property rights (infringement of trademark rights, counterfeiting of trademarks) can be subject to administrative penalties of up to 250 million VND for individuals, 500 million VND for individuals. with the organization.
In cases where an organization or individual commits a violation on a commercial scale or makes an illegal profit of 100 million VND or more, or causes damage to the trademark owner of 200 million VND or more, or the value of the infringing goods is 200 million VND or more, 200 million VND or more can be prosecuted for criminal liability, according to Article 226 of the 2015 Penal Code amended and supplemented in 2017.
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Detected many violations at gold shops, fined nearly 3 billion VND