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Ribbon Finance

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<p>Ribbon Finance (RBN), a decentralized finance (DeFi) protocol focused on structured products and derivatives, has experienced a remarkable 70% price surge in the past 24 hours.</p> 
<p>The token is currently trading at $1.22, with a 24-hour low and high of $0.7504 and $1.42, respectively. This impressive performance has propelled RBN to the 126th spot among cryptocurrencies by market capitalization, which now stands at $657.8 million.</p> 
<h2 class="wp-block-heading" id="sigil-fund-sells-rbn-for-profit">Sigil Fund Sells RBN for Profit</h2> 
<p>One of the notable developments amid Ribbon Finance’s price surge is the profit-taking by Sigil Fund, a prominent crypto investment fund. According to on-chain intelligence provider <a href="https://twitter.com/lookonchain/status/1765395863403372795" target="_blank" rel="noreferrer noopener nofollow">Lookonchain</a>, Sigil Fund sold 328,202 RBN for 86.28 ETH (approximately $292,000) at a price of $1.12 just two hours ago.</p> 
<p>Sigil Fund’s well-timed sale comes after a period of strategic accumulation. Between December 14 and December 29, 2023, the fund bought 4.36 million RBN at an average price of $0.33, amounting to a total investment of $1.43 million.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="483" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-1024x483.png" alt="" class="wp-image-449101" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-1024x483.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-300x142.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-767x362.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-1536x725.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-2048x967.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-318x150.png 318w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-100x47.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-741x350.png 741w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-243-788x372.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Following the recent price surge, Sigil Fund’s remaining 4.07 million RBN holdings are now worth $4.84 million, resulting in a staggering total profit of $3.7 million, or a 261% return on investment.</p> 
<h2 class="wp-block-heading" id="breakout-from-horizontal-channel">Breakout from Horizontal Channel</h2> 
<p>According to our analysis, Ribbon Finance’s RBN token broke out of a horizontal channel on February 27, just before the recent price surge. This breakout likely served as a technical catalyst for the token’s upward momentum, attracting increased investor attention and trading volume.</p> 
<p>The breakout from the horizontal channel suggests that RBN has overcome a significant resistance level and may be poised for further price appreciation. As more investors recognize the token’s potential and the underlying strength of the Ribbon Finance platform, the bullish sentiment surrounding RBN could continue to grow.</p> 
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 <img loading="lazy" decoding="async" width="1024" height="386" src="https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-1024x386.png" alt="" class="wp-image-449093" srcset="https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-1024x386.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-300x113.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-768x289.png 768w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-1536x578.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-2048x771.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-398x150.png 398w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-100x38.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-930x350.png 930w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242-788x296.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/03/image-242.png 1134w" sizes="(max-width: 1024px) 100vw, 1024px">
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<h2 class="wp-block-heading" id="overbought-rsi-signals-short-term-caution">Overbought RSI Signals Short-Term Caution</h2> 
<p>While Ribbon Finance’s recent price action is undeniably bullish, it is essential to consider the token’s technical indicators to assess the sustainability of the current uptrend. RBN’s daily chart Relative Strength Index (RSI) currently stands at 87, signaling that the token is significantly overbought in the short term.</p> 
<p>An RSI above 70 generally indicates that an asset has risen too quickly and may be due for a correction or consolidation. With RBN’s RSI at 87, traders should be cautious of a potential short-term pullback, as the market may need to cool off before continuing its upward trajectory.</p>  
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<p>However, it is crucial to note that during strong bull markets, assets can remain overbought for extended periods, and the RSI alone should not be relied upon as a sole indicator for making trading decisions.</p> 
<p>Ribbon Finance’s impressive 76% price surge and the strategic profit-taking by Sigil Fund highlight the growing interest in the DeFi protocol and its native token, RBN. The breakout from the horizontal channel and the token’s strong performance amid the recent market volatility suggest that Ribbon Finance may be well-positioned for further growth.</p> 
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<p>The post <a href="https://captainaltcoin.com/this-firm-offloads-rbn-as-ribbon-finance-surges-70-heres-the-profit/">This Firm Offloads RBN as Ribbon Finance Surges 70%: Here’s the Profit</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

This Firm Offloads RBN as Ribbon Finance Surges 70%: Here’s the Profit

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