XRP takes off

XRP, a token connected with Ripple, has gone unexpectedly higher, to levels that surpass where it was even before the SEC filed its suit against Ripple.

XRP soared 17% over the past 24 hours to a nose-hair below $0.70, as of Monday at 9 a.m. (EST).

Looking at its weekly close, XRP, as of yesterday (April 4), finished the seven-day period at $0.63 for its highest weekly close in 35 months (UToday). 

Ahead of the Flare Networks airdrop this past November, XRP got to $0.79, capping an assertive autumn campaign that erased bad memories of a summer mired below $0.30. To where XRP fell back after the SEC, in late December, sued the distributed ledger company with which XRP is associated.

The launch and airdrop of ForceDAO (FORCE) started off fine yesterday with the FORCE token shooting to more than two dollars – but most of those gains went poof after the upstart decentralized finance protocol fell prey to a smart contract exploitation.

Four hackers siphoned xFORCE tokens (a version of FORCE, used to facilitate staking) worth more than $350,000.

One friendly "white-hat" hacker assisted the team by alerting them to prevent further losses. (Cointelegraph).

If non-fungible tokens (NFTs) are a bubble, then the air is coming out, per CryptoPotato, citing data from Nonfungible.com.

The data shows that the average price of these tokens has declined 70% from all-time average highs, of around $4,300, seen in February.

"It seems," CryptoPotato said, "that the hype for NFTs is fading away."

American central bankers are not worried about inflation, pointing to statistics pegging levels as being no higher than 2.24%.

But according to a study by equipmentradar.com, per Bitcoin.com, prices of various staple items in the U.S. are subject to inflation rates that are nowhere near 2%, including: steel (145%); lumber (126%); oil (80%); soybeans (71%); corn (69%); copper (50%); (cotton 35%); coffee (34%); wheat (25%); stocks (24%) and home values (8%).

With monetary expansion happening in plain sight, the crypto market, looking ahead, able to see what’s looming, is feeding a rally rooted in genuine concerns about inflation.