Deep Dive
1. Technical Weakness (Bearish Impact)
Overview: B3 broke below its 7-day SMA ($0.002788) and 30-day SMA ($0.002774), with the MACD histogram deepening to -0.0000249. The RSI7 dipped to 39.04, nearing oversold territory but lacking bullish divergence.
What this means: The breakdown below moving averages triggered stop-loss orders, while the MACD’s widening negative histogram reflects accelerating selling pressure. With no immediate support until $0.0024086 (Sept 24 low), technical traders likely amplified the downturn.
2. Upbit Listing Profit-Taking (Bearish Impact)
Overview: After Upbit listed B3 on Sept 24, the price initially surged to a $320M market cap before reversing. The 24h volume plummeted 48% to $11.6M, signaling fading momentum.
What this means: The “Korean exchange pump” pattern often sees rapid gains followed by profit-taking, particularly with B3’s high 0.215 turnover ratio (indicating speculative trading). The lack of sustained volume post-listing suggests weak organic demand.
3. Appchain Expansion Concerns (Mixed Impact)
Overview: While B3’s XRPL Gamechain partnership aims to boost utility, critics argue the gaming appchain narrative is overextended. Blockworks noted “gaming chain fatigue,” questioning if new chains like XRPL Gamechain attract real users.
What this means: Although the collaboration could drive long-term XRP ecosystem integration, short-term doubts about adoption may have pressured B3. The project’s 100B total supply also creates persistent inflation concerns despite buyback mechanisms.
Conclusion
B3’s decline reflects a combination of technical triggers, post-listing volatility, and skepticism about its gaming layer-3 expansion. While the XRP partnership offers potential utility, the token faces headwinds from high supply inflation and crowded appchain narratives.
Key watch: Can B3 hold the $0.0024086 Fibonacci support, and will XRPL Gamechain’s mainnet launch (expected Fall 2025) catalyze measurable user growth?