Amid the broader market recovery, the altcoins are gaining momentum with minor hiccups along the way. In the top gainers, the XRP price ranks high as it reclaims the $0.60 level overnight. However, the ADA price trend struggles for a comeback from $0.335 and bounces back from a support trendline. Let’s have a closer look …
The total crypto market cap edged 2 percent higher towards $2.1 led by Bitcoin (BTC) and Ripple Labs-backed XRP. Following the heightened crypto volatility, more than $215 million was liquidated from the crypto industry in the last 24 hours, mostly involving long trades. According to the latest crypto data, Bitcoin price rallied nearly 4 percent …
Amid the ongoing crypto rebound in the past 24 hours fueled by the final ruling of the SEC vs Ripple lawsuit, Solana’s (SOL) price rallied nearly 7 percent to trade at about $155 on Thursday during the early Asian session. The large-cap altcoin, with a fully diluted valuation of about $90 billion and a daily …
Bitcoin‘s recent price recovery has triggered renewed optimism within the community regarding the crypto asset’s short-term prospects, with several analysts predicting an imminent price surge for BTC. Following the market redemption, Ki Young Ju, the Chief Executive Officer (CEO) of leading on-chain data provider, CryptoQuant, has reassured crypto investors that the Bitcoin bull market is […]
Doctor Profit, a prominent XRP investor, has shed some light on a comprehensive report published by BloFin on the long-term potential of XRP. According to the analyst, XRP is designed for long-term investors rather than those seeking quick gains through day trading. The coin has shown significant resilience, maintaining a spot in the top 10 …
The popular Bitcoin valuation metric hasn’t been at this level since the downfall of cryptocurrency exchange FTX in November 2022.
Finally, XRP is not a Security! This is a big win for the entire XRP community, which believes in Ripple’s commitment to crypto. In a landmark decision, a federal judge has issued a split ruling in the long-running legal tussle between Ripple and the SEC over XRP. XRP Not a Security: Court Rules Judge Analisa …
Donald Trump's chances of winning the 2024 election have declined 13 percentage points in the last month.
Stellar (XLM) started a strong increase above the $0.0950 resistance against the US Dollar. XLM price is gaining pace and might aim for $0.120. There was a steady increase in Stellar’s token price above $0.0950 against the US dollar. It is now trading above $0.100 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair (data source from Kraken). The pair is likely to continue higher towards $0.1150 and $0.1200 in the near term. Stellar Price Rallies Over 10% After forming a strong support base above $0.0750, Stellar (XLM) saw a strong increase above $0.0850 against the US Dollar, following XRP surge. It gained over 10% beating Bitcoin in the short term. There was a clear move above the $0.0950 and $0.100 resistance levels. The price tested the $0.1050 zone. A high was formed at $0.1043 and the price is now consolidating gains. There was a minor decline below the $0.10 level. The price tested the 23.6% Fib retracement level of the recent increase from the $0.0757 low to the $0.1043 high. XLM price is now trading above the $0.10 resistance and the 100 hourly simple moving average. There is also a major bullish trend line forming with support near $0.0980 on the hourly chart of the XLM/USD pair. On the upside, an immediate resistance is near the $0.1050 level. The next major resistance is near the $0.1120 level, above which the price could test $0.1150. A close above the $0.1150 level might start a steady increase toward the $0.1200 and $0.1250 levels. The next major stop could be $0.1300 or even $0.1320. Are Dips Supported in XLM? If XLM price struggles to continue higher, it could start a downside correction. Immediate support on the downside is near the $0.0980 level or the trend line. The next major support is near the $0.090 level or the 100 hourly SMA. A clear break below the $0.0900 support zone could spark a fresh decline. The next major support on the downside is near the $0.0800 level. Technical Indicators Hourly MACD – The MACD for XLM/USD is gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XLM/USD is currently well above the 50 level. Major Support Levels – $0.0980 and $0.0900. Major Resistance Levels – $0.1050 and $0.1200.
XRP is currently trading slightly above the $0.50 price level, having experienced a significant price decline that erased most of its gains from the previous month. XRP managed to break through the $0.60 price level in a rally last month, although this surge was short-lived, lasting only a few days. Despite this setback, crypto analyst Javon Marks notes that there are still bullish divergence patterns present in the market, suggesting that another breakout could be on the horizon. These patterns indicate potential upward momentum, hinting at a possible recovery and a very optimistic price surge to new all-time highs. Bullish Divergences Are Still Present Crypto analyst Javon Marks recently shared an intriguing XRP technical analysis on the social media platform X with very bullish price prediction targets for the cryptocurrency. According to Marks, the crypto asset recently embarked on a bullish rally, which ultimately turned into an attempted breakout before reversing. The rally he was talking about was XRP’s price journey from $0.4321 in July, which saw it peak at $0.6534 on July 31, according to data from Coinmarketcap. As such, XRP ended up breaking out of a multi-year descending triangle pattern. Related Reading: Explosive XRP Prediction: Analyst Foresees 20-Fold Gain This interesting pattern is shown on Javon Marks’ XRPUSD monthly candlestick chart. The descending triangle pattern, which has been in formation since XRP’s all-time high of $3.4 in 2018, is characterized by a series of lower highs and higher lows. Over the past six years, this pattern has become smaller, reflecting a period of consolidation and reduced volatility. This formation has tightened for the past few months, culminating in the minor breakout in July and a move towards a more bullish outlook for XRP. Although the XRP price now finds itself trading within this region of descending triangular pattern again, Javon Marks remains optimistic. Furthermore, he pointed out an interesting correlation between the price action and the Relative Strength Index (RSI), which is a popular momentum indicator. According to Marks, this correlation suggests that a successful bullish breakout is on the horizon. $XRP recently broke out temporarily which looks to have been only an attempted breakout but, between Price Action and the RSI, there are patterns still present through bull divergences that can suggest a successful bullish breakout to be on the horizon! On a conservative note,… https://t.co/BCrp9CwT6i pic.twitter.com/XGGiv0nBDp — JAVON⚡️MARKS (@JavonTM1) August 6, 2024 Price Targets For XRP According to Marks, a successful breakout would translate into a price range between $15 and $18 on the conservative end. A more intense rally could result in XRP reaching above the $100 price level. His final target on the price chart is $260 for XRP, which represents an increase of 41,780% from the current price level. Rallies of such magnitude are not new to the crypto industry. As Marks noted, we’ve witnessed full logarithmic scale follow-throughs of this nature in the past. The last time the altcoin broke out of a similar multi-year descending triangle pattern was in 2017, resulting in a 42,000% price increase that culminated in its current all-time high. Related Reading: XRP Price Recovery Encounters Hurdles: Will It Prevail? However, realistically speaking, the crypto market has evolved since then. XRP is now one of the largest cryptocurrencies in terms of market cap, and a repeat of such a 40,000% surge is easier said than done. A lone XRP rally of that magnitude would propel XRP to overtake even Bitcoin in terms of market cap, which many market participants would deem impossible. Nevertheless, a sustained XRP rally in the near future is not out of the question. At the time of writing, XRP is trading at $0.5162 and is up by 3% in the past 24 hours. Featured image from Adobe Stock, chart from Tradingview.com
Sanctions are an effort to throw the weight of the U.S. dollar around to tamp down on activities the U.S. government thinks may be harmful – like money laundering to fund terror groups or rogue nations. The New York Federal Reserve thinks they had a real effect in crypto.
XRP price started a major increase above $0.500 after court’s ruling. The price is up over 25% and eyes more upsides above the $0.640 resistance. XRP price started a strong increase above the $0.500 and $0.550 levels. The price is now trading above $0.5880 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $0.5280 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to rise if it clears the $0.640 resistance zone. XRP Price Starts Fresh Surge XRP price formed a base above $0.450 and started a major increase beating Ethereum and Bitcoin. The price was able to surpass the $0.5150 and $0.550 resistance levels. It gained over 25% and broke many hurdles near the $0.600 level. A high was formed at $0.6473 and the price recently corrected some gains. There was a move below the $0.600 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $0.4922 swing low to the $0.6477 high. However, the bulls are active near $0.5880. It is still trading above $0.600 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $0.6250 level. The first major resistance is near the $0.6350 level. The next key resistance could be $0.640. A clear move above the $0.640 resistance might send the price toward the $0.6550 resistance. The next major resistance is near the $0.6880 level. Any more gains might send the price toward the $0.700 resistance or even $0.720 in the near term. Are Dips Supported? If XRP fails to clear the $0.620 resistance zone, it could start another decline. Initial support on the downside is near the $0.600 level. The next major support is at $0.5880. If there is a downside break and a close below the $0.5880 level, the price might continue to decline toward the $0.570 support or the 50% Fib retracement level of the upward move from the $0.4922 swing low to the $0.6477 high. The next major support sits at $0.540. 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 – $0.600 and $0.5880. Major Resistance Levels – $0.6200 and $0.6400.
Just two days after revealing plans to raise $70 million via a stock rights offering, ‘Asia’s MicroStrategy’ has taken a $6.8 million loan from one of its shareholders to buy more Bitcoin.
Santiment found that wallets holding between 10 and 1,000 BTC “rapidly accumulated” as Bitcoin fell under $50,000 amid “Crypto Black Monday.”
A Bitcoin cycle indicator from the analytics firm CryptoQuant suggests BTC has gone through a transition to a bearish phase after the crash. CryptoQuant’s Bitcoin Bull-Bear Cycle Indicator Now In Negative Territory In a new post on X, CryptoQuant Head of Research Julio Moreno has discussed the latest development in the “Bull-Bear Market Cycle Indicator” […]
The Brazilian Securities and Exchange Commission (CVM) has approved a Solana-based exchange-traded fund (ETF), the agency disclosed in its central database.
Over the past few days, Bitcoin (BTC) has seen a significant surge in whale accumulation. Ali highlighted that the “number of BTC addresses holding 100+ BTC increased from 15,913 to 16,006 during the recent correction. While this trend is noteworthy because it suggests whales bought the dip, Ki Young Ju, the CEO of CryptoQuant, an on-chain data aggregator, has spotlighted that it also suggests a calculated buildup of Bitcoin by influential players in the shadows. Related Reading: Bitcoin Bull Run Still Intact? Here’s What On-Chain Data Says The Hidden Bitcoin Agenda Revealed Ki Young Ju’s observations stem from his analysis of Bitcoin transactions over the last month, revealing a massive shift of nearly half a million BTC into what is described as “permanent holder wallets.” Ju noted: I’m pretty sure something is happening behind the scenes. 404,448 Bitcoin have moved to permanent holder addresses over the past 30 days, and it’s clearly accumulation. We’ll know within a year. This transfer, amounting to roughly $22.94 billion, signals routine market behavior and a strategic accumulation that hints at plans by major financial entities or even state actors. This activity was first hinted at three weeks prior when Ju reported an unusual movement of 385,000 BTC into cold storage, highlighting a pattern of behavior among Bitcoin whales that diverges from typical market operations. #Bitcoin is in an accumulation phase. Over the past month, 358K BTC has moved to permanent holder addresses. In July, global spot ETF inflows were 53K BTC. Though not all remaining BTC is in custody wallets, whales are clearly accumulating. And it’s an unprecedented level. pic.twitter.com/Cyl2ZVhIIX — Ki Young Ju (@ki_young_ju) July 24, 2024 What Are The Consequences? The implications of such heavy accumulation are quite profound. Ju said this could be the prelude to a major revelation, where traditional financial institutions, companies, or even governments might disclose substantial Bitcoin acquisitions made during this period. He suggests that within a year, the public could learn that these entities have been quietly building their Bitcoin reserves throughout the third quarter of 2024. This strategic accumulation, Ju theorizes, could be a move to secure a substantial stake in the world’s flagship cryptocurrency in anticipation of or in response to broader economic shifts. This theory is further boosted by distractions in the crypto space, such as the German government’s sale of BTC and the U.S. government’s disposal of Bitcoin related to the Mt. Gox debacle. Related Reading: $0 Flows: BlackRock Unshaken Despite Recent Bitcoin Market Crash, Data Shows These events may have diverted retail investors’ attention from the more significant, ongoing accumulation by larger institutional actors. So here’s what’s going to happen: Within a year, some entities—whether they’re TradFi institutions, companies, governments, or others—will announce that they’ve acquired #Bitcoin in Q3 2024. And retail investors will regret not buying it because they were worried about the… — Ki Young Ju (@ki_young_ju) August 6, 2024 Featured image created with DALL-E, Chart from TradingView
Ethereum price failed to continue higher above the $2,550 resistance zone. ETH is now consolidating near $2,450 and showing a few bearish signs. Ethereum started a recovery wave above the $2,400 and $2,420 levels. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise steadily if it clears the $2,550 resistance zone. Ethereum Price Struggles Below $2,550 Ethereum price started a recovery wave above the $2,250 resistance level. ETH climbed above the $2,320 and $2,450 resistance levels like Bitcoin above $65,000. However, the bears were active near the $2,550 resistance zone. A high was formed at $2,555 before there was a downside correction. The price declined below the $2,450 level. It dipped below the 23.6% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high. Besides, there was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH/USD. The pair tested the $2,320 support and is currently rising. Ethereum price is still trading below $2,550 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $2,500 level. The first major resistance is near the $2,550 level and the 100-hourly Simple Moving Average. A close above the $2,550 level might send Ether toward the $2,685 resistance. The next key resistance is near $2,865. An upside break above the $2,865 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,350. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward $2,150 and the 61.8% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,300 Major Resistance Level – $2,550
Lookonchain shared that Plus Token had begun moving nearly $2 billion in ETH but it turns out most of it had already been sold in 2021.
Bitcoin price is consolidating near the $57,500 zone. BTC could gain bullish momentum if it clears the $58,000 resistance zone in the near term. Bitcoin started a recovery wave above the $55,500 and $56,500 levels. The price is trading above $57,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $56,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might struggle to clear the $58,250 resistance zone. Bitcoin Price Could Continue Higher Bitcoin price started a recovery wave above the $53,500 resistance zone. BTC was able to clear the $55,500 and $56,500 resistance levels to move into a short-term positive zone. There was a move above the 61.8% Fib retracement level of the key drop from the $61,040 swing high to the $49,110 swing low. Besides, there was a break above a key bearish trend line with resistance at $56,850 on the hourly chart of the BTC/USD pair. The bulls are now attempting more upsides above $57,500. Bitcoin price is now trading above $57,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $58,250 level. It is close to the 76.4% Fib retracement level of the key drop from the $61,040 swing high to the $49,110 swing low. The first key resistance is near the $58,800 level. A clear move above the $58,800 resistance might send the price further higher in the coming sessions. The next key resistance could be $59,500. The next major hurdle sits at $60,000. A close above the $60,000 resistance might spark bullish moves. In the stated case, the price could rise and test the $62,000 resistance. Another Decline In BTC? If Bitcoin fails to recover above the $58,250 resistance zone, it could start another decline. Immediate support on the downside is near the $56,400 level and the 100 hourly SMA. The first major support is $54,500. The next support is now near $53,500. Any more losses might send the price toward the $52,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $56,400, followed by $54,500. Major Resistance Levels – $58,250, and $58,800.
Ripple Labs has entered into a partnership with the DIFC Innovation Hub, part of the Dubai International Financial Centre, as detailed in an official press release on Wednesday. This collaboration aims to significantly enhance the adoption and development of blockchain technology and digital assets within the UAE and potentially across the Middle East, Africa, and […]
Some of the CMIC members in support of the letter include Robinhood, BitGo, OKX, Gemini, Chainalysis, Elliptic, TRM, Kaiko and Matrixport.
XRP’s price has surged 26% as the Ripple vs. SEC case appears to be nearing its final stages, with no signs suggesting that XRP will be classified as a security.
After nearly four years of fighting the United States Securities and Exchange Commission (SEC), Ripple Labs, a blockchain payment company, has received much-needed clarity from the court on XRP sales. On Wednesday, US District Judge Analisa Torres concluded that the SEC’s motion for remedies and the entry for final judgment has been granted and denied …
As the rebound in some sectors of the crypto market slows, Polkadot (DOT) has captured some momentum garnering the attention of some investors that grabbed it at a discount. According to CoinGecko, the token is up almost 6% today, with the rebound slowing to a mere 2% increase since yesterday. However, this has not deterred investors from keeping their eyes on DOT as it slowly makes its way upward. Related Reading: Bloody Monday: Cardano Not Spared From Bloodbath, Suffers 30% Loss This is partly due to Polkadot’s continuing on-chain developments that helped ease market anxieties after the broader sell-off that happened this week. We might see more positive movement in the coming days investors and traders are convinced that the sell-off is a one-of-event. Tuning In To On-Chain News For Polkadot On-chain, the Polkadot’s parachains are actively contributing to the network’s overall growth. Polkadotters, an X account dedicated to sharing Polkadot developments, shared several developments this week. Bifrost’s July report is among the developments that show incredible growth for the protocol. The monthly report shows that Bifrost grew by a substantial margin. By the end of July, Bifrost had a total of $80.8 million in total value locked (TVL) and over 8 million voucher DOT (vDOT) minted. vDOT is the protocol’s representation of DOT staked on the platform and according to this high number, DOT is an active token used in staking on Bifrost. Peaq, a parachain focused on decentralized physical infrastructure networks (DePIN), secured a partnership with Roam, a fellow DePIN-focused platform. The partnership covers Roam’s launch of its network and native token on the Peaq ecosystem, contributing to Polkadot’s growth through increasing activity on Peaq and its network. DOT Tries To Breach $4.61 DOT is currently attempting to break through the $4.61 ceiling, resuming yesterday’s action by trying to flip the ceiling to a solid support level. However, this maybe thwarted by the bears as the market currently favors the downward pressure felt by investors and traders in the short term. Despite this, positive developments can alleviate the shaken confidence brought by the market’s sharp decline this week. The only question remaining will be how big the gains can be if the rebound continues. If DOT bulls are successful in this breakthrough, the token will have the necessary foundation for future upward movement. Bulls can emulate DOT’s movement in late 2020 where they settled on $4.61 before the market’s bull run. However, market volatility will still be a huge problem for DOT’s performance. Related Reading: Aave Protocol Unfazed By Market Jitters, Surges 21% If the major cryptocurrencies continue their rebound to pre-overreaction levels, then there might be a chance for DOT to reclaim $6.16 in the long term. Until then, investors and traders should remain cautious of the token’s position and momentum as it can be susceptible to a swing downward. Featured image from MoneyWeb, chart from TradingView
Both candidates for U.S. president have 49% odds of prevailing on the leading prediction market.
The increasing focus on crypto policy in the 2024 presidential race underscores the sector's significant political and economic influence.
The post Democrats set ‘Crypto for Harris’ campaign in motion as crypto policy heats up US elections appeared first on Crypto Briefing.
Metaplanet's aggressive Bitcoin acquisition strategy highlights growing corporate confidence in cryptocurrency as a hedge against economic instability.
The post ‘Asia’s MicroStrategy’ Metaplanet secures ¥1 billion loan to acquire additional Bitcoin appeared first on Crypto Briefing.
The $81 million Robinhood made in crypto revenue was more than double made from equities in Q2.
Shiba Inu (SHIB) is at risk of significant selling pressure thanks to the bankrupt crypto firm Genesis Trading. This comes amid a spike in large transactions for the meme coin, which is undoubtedly a bullish development. How Shiba Inu Could Face Significant Selling Pressure Data from the on-chain analytics platform Arkham Intelligence shows that Genesis […]