The growth has been primarily driven by memecoin mania on the Coinbase L2 blockchain Base.
A crypto analyst has shared an optimistic outlook for the XRP price, the native token of the XRP Ledger (XRPL), predicting a potential rally of up to 10,400% with a price target of $60. The analyst has also outlined when to expect this anticipated price increase. XRP Price Set To Hit $60 With Projected 10,400% Surge In an X (formerly Twitter) post on August 12, crypto analyst, Brett Hill expressed bullish optimism about XRP’s future price. The analyst suggests that XRP could be on the verge of a significant breakout, potentially propelling it to new all-time highs. Related Reading: Ethereum Return To $4,000: Key Zones And Price Levels To Watch He shared a chart tracking XRP’s price movements from March 2023 to 2025. Based on his analysis, the analyst predicts that XRP is poised to reach a price range of $50 to $60, representing a substantial 10,400% surge from its current value. While outlining his bullish forecast for XRP, Hill pointed to XRP’s weekly Moving Average Convergence Divergence (MACD). The MACD is a trend-following momentum indicator that is used to identify entry and exit points for crypto traders. The analyst disclosed that this unique indicator is currently signaling a strong bullish momentum for XRP, solidifying its potential price increase to new all time highs. He further highlighted a key support level at the $0.5403 mark. Hill has forecasted that XRP would potentially surge between $50 to $60 if it stays above the aforementioned support level. With XRP currently trading at $0.57, well above the crucial support level, this could mean that the $50 to $60 price target may be achieveable in the coming weeks. The analyst has also affirmed that as long as XRP holds this support level, it is well-positioned for “big gains.” Despite his rather ambitious and bullish prediction for the cryptocurrency, Hill warns that investors should watch out for a resistance level of $0.6836. He disclosed that if XRP can break through this resistance level, it could potentially trigger a powerful upward momentum that could send its price even higher. Analysts Stay Bullish On XRP After Legal Win In a previous X post, Hill forecasted that the XRP Ledger is poised for an explosive growth following Ripple’s recent legal victory over the United States Securities and Exchange Commission (SEC). On August 8, the United States (US) South District Court fined Ripple $125 million in civil penalties for violating securities laws by selling XRP to institutional investors. Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse sees the settlement fee as a significant win, given that the SEC had previously requested a whopping $2 billion in settlement. Related Reading: Legendary Fibonacci Extension Reveals When Bitcoin Will Reach $109,000 Following the Court’s rule, analysts and market watchers have expressed optimistic outlooks about XRP’s future value. Crypto enthusiast, Amelie disclosed that XRP’s newfound regulatory clarity was set to inject trillions of dollars into XRPL projects. Additionally, a crypto analyst identified as ‘CryptoBull’ on X has projected a major bullish price target for XRP. According to the analyst, XRP could surge anywhere between $13 and $46 within the next 1 to 18 months. Featured image created with Dall.E, chart from Tradingview.com
Memecoins are a great way to attract people to crypto, but the jury’s out on whether they’ll maintain their current momentum.
The movement of more than $1.7 billion in “dormant” Bitcoin could lead to downward pressure on Bitcoin in the coming weeks, according to an onchain analyst.
Coinbase crypto exchange is launching its own wrapped Bitcoin token called cbBTC, which will be on the Base blockchain. Coinbase released a tweet about “cbBTC” and said that it will be launched soon and will build a huge Bitcoin economic system on the Base network. WBTC has caused community concerns due to the involvement of …
Bybit has announced the implementation of a comprehensive listing and delisting framework designed to enhance user protection, uphold market integrity, and promote the overall health of the blockchain ecosystem. It will establish a new standard for listing and delisting coins, requiring projects to list key dates such as protocol upgrades, token burn, frozen maturities, etc., …
With Bitcoin currently fluctuating around the $58,000 and $60,500 levels, determining the flagship cryptocurrency asset’s peak in the ongoing bull run has been a major challenge. However, a crypto analyst has shed light on the current stage of Bitcoin, offering an intriguing prediction about the coin’s potential to hit unprecedented heights in the upcoming months, […]
XRP price is slowly moving higher above the $0.5650 support. The price must clear $0.5880 and $0.60 to start a fresh increase in the near term. XRP price is attempting a fresh increase above the $0.5650 level. The price is now trading near $0.5750 and the 100-hourly Simple Moving Average. There is a key rising channel forming with resistance at $0.5880 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh increase if it clears the $0.5880 resistance zone. XRP Price Eyes Fresh Increase XRP price remained stable near the $0.550 level and started a fresh increase like Bitcoin and Ethereum. The price was able to climb above the $0.5620 and $0.5650 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $0.6020 swing high to the $0.5455 low. It seems like the bulls could soon attempt an upside break above the $0.600 resistance zone. However, the bears are active near the $0.5880 resistance zone. There is also a key rising channel forming with resistance at $0.5880 on the hourly chart of the XRP/USD pair. The price is now trading near $0.5750 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.5880 level. It is close to the 76.4% Fib retracement level of the downward move from the $0.6020 swing high to the $0.5455 low. The first major resistance is near the $0.60 level. The next key resistance could be $0.6020. A clear move above the $0.6020 resistance might send the price toward the $0.6150 resistance. The next major resistance is near the $0.6250 level. Any more gains might send the price toward the $0.6320 resistance or even $0.650 in the near term. Another Drop? If XRP fails to clear the $0.5880 resistance zone, it could start another decline. Initial support on the downside is near the $0.570 level. The next major support is at $0.5650. If there is a downside break and a close below the $0.5650 level, the price might continue to decline toward the $0.550 support. The next major support sits at $0.5350. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.5700 and $0.5650. Major Resistance Levels – $0.5880 and $0.6000.
Some analysts think the market isn’t bullish enough on Bitcoin, given all this big money flowing in. U.S. ETFs are even on track to hold more Bitcoin than Satoshi Nakamoto by October, with BlackRock likely to become the biggest holder next year. Amid these conflicting Bitcoin developments, analyst Altcoin Buzz has analyzed two altcoins, set …
Goldman Sachs’ latest 13F filing reveals that the company holds a total of $418 million in Bitcoin spot ETFs. The breakdown of the holdings includes 6,991,248 shares of iShares Bitcoin Trust worth $239 million, 1,516,302 shares of Fidelity Wise Origin Bitcoin worth $79.55 million, 940,443 shares of Invesco Galaxy Bitcoin ETF worth $56.19 million, 660,183 …
In a significant development for XRP, a major exchange announces plans to launch the crypto’s future contracts. Bitnomial Exchange has officially informed the CFTC of its plans to introduce XRP/USD futures contracts, with trading expected to commence today. Known as XUS, these contracts will be physically settled and margin-based, reflecting the value of 100,000 units …
Bittensor (TAO) has been one of the best-performing AI (Artificial Intelligence) tokens this cycle after surging 180% during Q1 2024. The token has significantly retraced from its march all-time high (ATH) and is currently testing key resistance levels. Some crypto analysts seem unsure about TAO’s short-term performance but remain bullish long-term. Related Reading: Buying The Dip: PEPE Price Recovers 10% As Whales Load Their Bags Bittensor To Lead The ‘AI Wave’? Bittensor Protocol’s token TAO recently saw a major downturn following the broader market retrace. The token, which had recovered the $300 mark in July, faced a significant correction as August started. The price decline deepened on August 5, falling below the $180 level. As the crypto market recovered, TAO’s price surged over 75% from its lowest point last Monday. The token retested the $300 resistance level over the weekend but failed to hold it as the market saw another crash this Monday. Bittensor’s native token registers a 10% drop from its Friday price of $315, which seems to have left some investors and market watchers pondering TAO’s short-term performance. According to renowned analyst Altcoin Sherpa, the AI token might experience another 25%-30% drop soon. To Sherpa, TAO’s “bearish market structure is still there,” which could drive the price below the $200 support level again “pretty soon.” Additionally, the analyst wonders whether AI tokens like TAO will outperform most of the market “like they did in early 2024.” Nonetheless, Gonzo, another market watcher, believes that the token will “lead the AI wave” in the coming months. Replying to Sherpa, the investor suggested that TAO might need to move sideways for a while and “hope that BTC doesn’t dump” to start a new uptrend. Gonzo also considers that Grayscale “might dump it hard to get in cheap” but “will pump it to make money” after launching its Bittensor fund. As reported by NewsBTC, Grayscale Investments announced the offering of its new crypto fund, the Grayscale Bittensor Trust, last week. No Clear Direction For TAO Short-Term Crypto trader Pidgeon analyzed TAO’s long-term performance, finding an unclear path in the shorter timeframes. Per the post, the chart displays a “big head and shoulders” pattern in the weekly timeframes. To the analyst, this pattern, which suggests a trend reversal, “remains completely irrelevant as long as Bittensor holds the $200 support area.” He considers that the chances of TAO holding this level significantly increased after “Monday’s major fakeout and liquidity sweep.” Additionally, Pidgeon highlighted that the token is moving within a clear range between the $210 and $360 levels in the daily timeframe, where the token has previously consolidated. The trader considers there won’t be “major direction until either side breaks.” To break from the downtrend, TAO must reclaim the $310 level before retesting the $360 mark. If it breaks above the $360 trendline, the token’s price could retest the $480 and $570 resistance levels before trying for a new ATH. Related Reading: Ethereum Nears Key Bearish Triangle Apex: Breakdown To $2,160 Target Looms If it fails to hold above the $200 support zone, it might “revisit the wick lows down around $160” and even go as low as $90. Nonetheless, he identified a lower high structure “that it has been stuck in for months” and that “tends to break to the upside.” Ultimately, the trader stated he’s leaning bullish med-long term, but it will depend on “which side of the range it breaks.” As of this writing, TAO is trading at $277, a 4% drop in the last 24 hours. Featured Image from Unsplash.com, Chart from TradingView.com
Ethereum price started a steady increase above the $2,650 resistance. ETH is beating Bitcoin and might even rally toward the $3,000 resistance zone. Ethereum started a fresh increase above the $2,580 and $2,650 levels. The price is trading above $2,670 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with support at $2,670 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend gains if it clears the $2,750 resistance zone. Ethereum Price Eyes More Upsides Ethereum price started a decent increase from the $2,520 support zone. ETH outperformed Bitcoin and surpassed the $2,650 resistance zone. The price even spiked above the $2,720 zone. The recent swing high was formed at $2,732 and the price is now consolidating gains. The price is now moving lower below the $2,700 level. There was a drop below the 23.6% Fib retracement level of the upward move from the $2,613 swing low to the $2,732 high. Ethereum price is now trading above $2,670 and the 100-hourly Simple Moving Average. There is also a key contracting triangle forming with support at $2,670 on the hourly chart of ETH/USD. The triangle support is near the 50% Fib retracement level of the upward move from the $2,613 swing low to the $2,732 high. If there is another increase, the price might face hurdles near the $2,720 level. The first major resistance is near the $2,750 level. A close above the $2,750 level might send Ether toward the $2,820 resistance. The next key resistance is near $2,880. An upside break above the $2,880 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,720 resistance, it could slowly move down. Initial support on the downside is near $2,670 and the triangle’s trend line. The first major support sits near the $2,640 zone and the 100 hourly SMA. A clear move below the $2,640 support might push the price toward $2,620. Any more losses might send the price toward the $2,550 support level in the near term. The next key support sits at $2,520. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,670 Major Resistance Level – $2,750
An analytics firm has discussed about how the adoption of the Cardano (ADA) network has hit a phase of stagnation during the past year. Cardano Total Holders Are Unchanged From One Year Ago According to data from IntoTheBlock, ADA has seen its userbase stagnate over the last year. The metric of interest here is the […]
United States Bitcoin ETFs have added around 37,510 BTC to their holdings each month on average and could soon surpass Satoshi Nakamoto's estimated stash.
Bitcoin price recovered above the $60,000 resistance zone. BTC is now struggling to clear the $61,200 and $61,500 resistance levels. Bitcoin started a recovery wave above the $60,000 resistance zone. The price is trading above $60,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might attempt a fresh increase if it settles above the $61,500 resistance zone. Bitcoin Price Builds Momentum Bitcoin price started a decent upward move above the $58,500 resistance zone. BTC was able to clear the $59,500 and $60,000 resistance levels. There was a break above a connecting bearish trend line with resistance at $59,500 on the hourly chart of the BTC/USD pair. It even spiked above the $61,500 level. A high was formed at $61,555 and the price is now correcting gains. There was a move below the $61,200 and $61,000 levels. The price dipped below the 23.6% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. Bitcoin price is now trading above $60,000 and the 100 hourly Simple moving average. It is also well above the 50% Fib retracement level of the upward move from the $58,441 swing low to the $61,555 high. On the upside, the price could face resistance near the $61,200 level. The first key resistance is near the $61,500 level. A clear move above the $61,500 resistance might send the price further higher in the coming sessions. The next key resistance could be $62,500. The next major hurdle sits at $63,500. A close above the $63,500 resistance might spark more upsides. In the stated case, the price could rise and test the $65,000 resistance. Another Drop In BTC? If Bitcoin fails to rise above the $61,500 resistance zone, it could start another decline. Immediate support on the downside is near the $60,000 level and the 100 hourly Simple moving average. The first major support is $59,650. The next support is now near the $59,150 zone. Any more losses might send the price toward the $58,500 support zone or even $57,200 in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $60,000, followed by $59,650. Major Resistance Levels – $61,200, and $61,500.
Though buyers stand a chance, Bitcoin is steady when writing, teetering at the $60,000 level. After rejecting August lows, the bounce above the round number at $60,000 to as high as $63,000 by the end of last week was impressive. However, from the daily chart, prices are moving sideways in a possible accumulation, bounded by the August 8 bullish engulfing bar. Bitcoin Is Moving Sideways And “Boring” Amid the optimism, the crypto market is quiet and even boring. Picking out this state of affairs, one analyst on X, citing on-chain developments, observed that the dull market explains the generally low activity. For instance, the analyst said that the Bitcoin netflow has stood at -8,748 BTC over the last seven days. Related Reading: AVAX Set For ATH? Analysts Predict Explosive Rise To $285 This means that more BTC was bought than sold, indicating accumulation amid the general market lull. That traders and investors are looking to buy at current prices is a net positive for bulls and might help steady prices in light of the dizzying fall to as low as $49,000 on August 5. The possible accumulation is unsurprising and aligns with the broader crypto market behavior. So far, Bitcoin, like Ethereum and even XRP, is in a bullish recovery after the crash in early August. Even though the bull bar of August 8 lifted sentiment, there has been no follow-through. The immediate resistance is $63,000, while support is between $57,000 and $60,000. If buyers are to press on, breaking $63,000, it will likely set up the base for another leg up to $70,000 and even all-time highs. Miner Liquidation Risk Low, BTC Holders Accumulation Even so, before then, Bitcoin is moving sideways and inside a bullish bar, a net positive for upbeat traders from an effort-versus-result perspective. On-chain data second this preview. According to Glassnode, Bitcoin is at the HODLing stage, and users are keen to accumulate. The decision to double down as spot rates when prices are lower could suggest confidence and expectation of even more gains in the coming days. Related Reading: Ethereum Nears Key Bearish Triangle Apex: Breakdown To $2,160 Target Looms Encouragingly, the possible leg up won’t face headwinds, especially from miners who may choose to dump. Weeks after Halving in late April, miners began dumping BTC, forcing prices lower, as evident throughout June. For now, there is stability as the hash rate–a measure of computing power–picks up, looking at YCharts. Daily miner revenue, one analyst notes, fell by roughly 60%, crashing from $75 million to as low as $30 million after Halving. Meanwhile, over the last 720 days, their reserve fell by 50,000 BTC as they sold to upgrade their gear and stay competitive. Even as they liquidate, the analyst is confident miners are not in immediate danger since their reserves remain at over 713,000 BTC. Feature image from DALLE, chart from TradingView
Shiba Inu (SHIB) is again catching the attention of crypto whales as on-chain data shows a 240% spike in this crucial metric. Thanks to the surge in this on-chain metric, a massive price rally for the second-largest meme coin by market cap might be on the horizon. Shiba Inu Records 240% Surge In Large Transactions […]
Japanese firm Sakana AI claims its system can perform every part of the research process.
Crypto analyst Javon Marks has predicted that Ethereum (ETH) could enjoy a 75% breakout and rise to $4,723. The analyst also explained why this parabolic rally is possible for the second-largest crypto by market cap. Why A Rise To $4,723 Is Possible For Ethereum Marks mentioned in an X (formerly Twitter) post that Ethereum’s price is poised to rise to $4,723 as bull divergences continue to hold within a massive climb since breaking out. He added that the 75% move to this target and above can take place with the breakout and divergence holding. Related Reading: Legendary Fibonacci Extension Reveals When Bitcoin Will Reach $109,000 From the chart he shared, Marks also suggested that Ethereum’s price could rise to $8348. However, the analyst didn’t provide a timeline for when ETH will reach this price target. Crypto analyst Altcoin Daily also recently predicted that Ethereum could rise above $8,000 as he put his peak price target for ETH in this bull run at $8,800. Crypto analyst Poseidon also believes that Ethereum’s price can rise as high as $8,000. Meanwhile, crypto analyst DavidOnCrypto has provided a timeline for when Ethereum could reach $8,000, stating that it will happen in the next six months. He claimed that ETH’s move from its current price level to $8,000 would foreshadow the move that Bitcoin enjoyed as it rose from $25,000 to $70,000. Ethereum investors will undoubtedly be wary of such price targets, considering how much the crypto token has underperformed compared to Bitcoin since the start of the year. However, crypto analysts like Roman have assured that Ethereum’s time will come when it will make that parabolic run in this market cycle. The analyst explained that it wasn’t unusual for Ethereum’s price to lag while Bitcoin hit new highs. He alluded to 2020 when ETH was down 80% from its all-time high (ATH) while the flagship crypto broke its ATH. Roman predicted that Ethereum would make its run by year-end, as that is when he believes liquidity will begin to shift from Bitcoin to Ethereum and other altcoins. Some Positives For ETH Crypto analyst Crypto Kaleo recently stated that he is confident that Bitcoin’s dominance has hit cycle top. This represents a positive for Ethereum’s price as Crypto Kaleo noted that altcoins will begin to gain ground starting with the “king” ETH. He added that the real altcoin season begins when Bitcoin’s dominance drops beneath 50%. Related Reading: Crypto Analyst Says End Of This Bitcoin Bear Trap Could Drive Price To $72,000 Meanwhile, Grayscale’s Ethereum Trust (ETHE), which has recently contributed much of the selling pressure on Ethereum, recorded its first zero-flow day since converting to a Spot Ethereum ETF. This is undoubtedly a positive for Ethereum, especially considering that Grayscale’s Bitcoin Trust (GBTC) recorded 78 consecutive outflow days before registering its first day without an outflow. On the other hand, ETHE achieved this feat on the fourteenth day of trading as a Spot Ethereum ETF. Featured image created with Dall.E, chart from Tradingview.com
The upcoming Ascend 910C processor is already in testing and has customers waiting, the Wall Street Journal reports.
The latest insights from Glassnode’s “Week Onchain” newsletter reveals a major shift in Bitcoin market dynamics as long-term holders (LTHs) and large investors appear to be resuming a pattern of accumulation. This trend marks a departure from the extensive distribution observed earlier this year, offering a potential bullish outlook for Bitcoin, despite the broader market’s […]
Both Kamala Harris and her running mate, Tim Walz, have yet to present clear policy positions on digital asset regulation in the United States.
Google introduces a new conversational assistant and adds AI features across a slate of new hardware.
CIRO executive Suzanne Lasrado offered her opinion on the regulatory guidelines affecting Canadian stablecoin users at the Blockchain Futurist Conference.
The crypto firm merged with Coinsmart and Coinsquare in 2023, securing $1 billion in assets under management in the same year.
The court said the DAO’s financial details should be known to both sides as they hash out ownership and control issues.
A Binance executive, Tigran Gambaryan, is in critical condition inside a Nigerian jail. His health has reportedly been on a downward spiral since he was arrested, raising serious concerns among his family and supporters. Tigran’s wife, Yuki Gambaryan, expressed fears over the deteriorating condition of her husband, saying that he needs quick medical intervention. She […]
In this ongoing bearish market sentiment, there are a few best altcoins that have the potential to soar 100% if a bull run begins. However, in the past few days, the overall cryptocurrency market has experienced a significant decline and these altcoins are now trading at a discounted price. Best Altcoins for Next Bull Run …
On-chain data shows the Bitcoin whale entities have sold approximately $588 million in the cryptocurrency during the past week. Bitcoin Whales Have Made Large Selling Moves Recently As pointed out by analyst Ali Martinez in a new post on X, the BTC whales have sold around 10,000 BTC over the last seven days. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of Bitcoin that a given wallet group currently holds. Related Reading: Only 66% Of Ethereum Holders In Profit Despite 21% Price Jump The addresses or investors are divided into these cohorts based on the number of tokens that they are carrying in their balance right now. A holder with 5 BTC, for instance, is put inside the 1 to 10 coins group. In the context of the current topic, the whale cohort is of interest, which typically includes the addresses holding between 1,000 and 10,000 coins. At the current exchange rate, this range converts to $58.8 million at the lower end and $588 million at the upper one. Clearly, the investors belonging to the group would be among the largest in the market, so the cohort can be considered to have some influence. As such, the behavior of the whales can be worth keeping an eye on. Now, here is a chart that shows the trend in the Supply Distribution for this Bitcoin group over the past few months: As displayed in the above graph, the Bitcoin supply held by the whales has observed a significant decline recently. More specifically, the investors belonging to the cohort have removed a combined 10,000 BTC from their wallets during this selloff, worth about $588 million right now. From the chart, it’s visible that the sharpest selling came during the crash that BTC saw earlier, but these whales have also offloaded significant amounts in the recovery rally that has occurred over the last few days. So far, the Supply Distribution of the cohort has shown no signs of a reversal, so it’s possible that the whales are still in net selling mode. Naturally, this could slow down the asset’s recovery efforts. Nothing is set in stone, though, so the indicator could be used to monitor the coming days to see which direction these humongous investors really take. A net accumulation spree would suggest a renewal of confidence among the large hands and could pave the way for a further rise in the Bitcoin price. Related Reading: Bitcoin Investors Again Show Extreme Fear As BTC Slips To $59,000 In some other news, BTC has been forming a symmetrical triangle pattern recently and is closing in on its apex, as the analyst has explained in another X post. “Bitcoin is showing a symmetrical triangle on the lower time frames,” notes Martinez. “A sustained close outside the $59,000 – $59,530 range could trigger a 4.80% move for BTC.” BTC Price Bitcoin has struggled to put together bullish momentum in the last couple of days as its price has slumped to $58,800. Featured image from Dall-E, Santiment.net, charts from TradingView.com