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Tag: CoinMarketCap

  • What The Dogecoin Recovery From This Accumulation Zone Means For The Price

    Dogecoin (DOGE) has recently seen a major recovery from a critical accumulation zone, which a crypto analyst believes could set the stage for a stronger rally to or above $1. The massive price surge comes after months of consistent declines, during which the dog-themed meme coin has failed to break through resistance amid volatility and persistent market sell-offs. 

    Dogecoin Rebounds 46% From Accumulation Zone

    Market analyst Crypto Patel has released a fresh evaluation of Dogecoin’s price behavior, pointing to a key accumulation zone that has sparked a notable recovery in the meme coin. The analyst highlighted a significant shift in Dogecoin’s momentum and price direction after it climbed roughly 46.94% from a strong support area and accumulation zone near $0.0375. The jump included a recent 8.57% daily increase, which propelled DOGE toward $0.113. 

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    Crypto Patel has said that short-term traders can consider taking profits at current high levels. In contrast, long-term traders are encouraged to view any decline from $0.113 to the $0.06 to $0.08 range as a gradual accumulation opportunity, with expectations that the meme coin’s next bullish targets will extend to $1 and $2. 

    The accumulation zone, marked in green on the analyst’s chart, represents a multi-year base that has held since earlier cycles, with the Dogecoin price respecting it as a higher-timeframe support. Crypto Patel noted that DOGE previously recorded two major breakouts before reaching this zone. The first breakout occurred at the lower boundary of a descending channel between points 1 and 2 on the chart, followed by a second breakout from a later consolidation phase that pushed prices higher.

    Source: Chart from Crypto Patel on X

    After these moves, Dogecoin’s price pulled back and retested key levels before settling into the current accumulation zone. The meme coin is now showing renewed bullish momentum after months of decline, with price action pointing toward a move to higher levels. 

    Fibonacci extensions and measured move projections further indicate the likelihood of a significant upside, with one target on the chart pointing to $0.567, representing a potential 409% rally. Another target suggests an even higher price increase toward $2 and possibly $4 if bullish momentum persists. 

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    Although Dogecoin recovered to $0.11, its price has since declined to $0.10. CoinMarketCap’s daily chart shows that DOGE has declined by more than 11% over the past 24 hours. 

    Analyst Highlights Possible Invalidation Level 

    In his chart, Crypto Patel highlighted a potential invalidation area, warning that if it is crossed, Dogecoin could pull back and resume its previous downtrend. The invalidation level sits near $0.056, just below the accumulation zone. The analyst noted earlier that despite the recent recovery, the DOGE price could still revisit the $0.06 range, suggesting that a weekly close below this area could weaken the meme coin’s broader macro bullish structure.

    Dogecoin
    DOGE trading at $0.10 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured Image from Pixabay, chart from Tradingview.com

    Sandra White

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  • Dogecoin RSI Just Entered Historical Oversold Levels Again, Will It Repeat 2021?

    The Dogecoin Relative Strength Index (RSI) is said to have entered historical oversold levels. This has raised the possibility that the foremost meme coin could repeat its parabolic rally in the 2021 bull cycle. 

    Dogecoin Eyes Parabolic Rally As RSI Enters Oversold Levels

    Crypto analyst Cryptollica has indicated that the Dogecoin price could record another parabolic rally as the RSI enters oversold levels. In an X post, the analyst noted that this is the fourth time in 12 years that the DOGE RSI has been this oversold, and that every time this has happened, it has been life-changing. 

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    Cryptollica further remarked that the drop in Dogecoin’s RSI to this low has always been an “epic buying opportunity” and that those who loaded up made insane gains. In line with this, the analyst remarked that this is another massive opportunity. Meanwhile, Cryptollica alluded to previous times when the RSI dropped this low, including during the last cycle bottom, when DOGE dropped to $0.5. 

    Source: Chart from Cryptollica on X

    Dogecoin rallied to a new all-time high (ATH) of $0.74 after bottoming at $0.05, recording massive gains in the process. Cryptollica noted that these setups don’t come often and urged market participants not to miss this one. His accompanying chart suggested that DOGE could rally to the psychological $1 level this time around, marking a new ATH for the foremost meme coin. 

    DOGE Mirroring Past Accumulation Pattern

    In another X post, Cryptollica highlighted a similar DOGE/BTC pattern between the 2014-2017 and 2021-2026 accumulations. The analyst stated that the structure is identical and assured that the bleed against Bitcoin is not “death” but the necessary energy compression before the rotation. Cryptollica added that when the green line breaks, risk appetite changes instantly. 

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    Meanwhile, Cryptollica declared that the fractal was loading, with Dogecoin set to be the heartbeat of the altcoin cycle. The analyst claimed that this is the final stage of a multi-year compression against Bitcoin. This historically leads to a specific volatility squeeze that precedes a massive capital rotation from BTC to altcoins. 

    Crypto analyst Bitcoinsensus raised the possibility of a Dogecoin rally to $0.70, which could be near. This came as the analyst noted that DOGE has been moving in a nice way up throughout this entire bull cycle. This is said to be evident in the mini cycles, with the foremost meme coin tapping the dotted line, followed by a slow retrace. Based on this pattern, Bitcoinensus noted that DOGE could soon target the $0.70 range if the strong momentum in the crypto market returns. 

    At the time of writing, the Dogecoin price is trading at around $0.137, down in the last 24 hours, according to data from CoinMarketCap.

    Dogecoin
    DOGE trading at $0.13 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

    Scott Matherson

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  • XRP Open Interest Crashes To Levels Not Seen Since 2024, Can It Also Rally 600%?

    XRP’s open interest has reportedly crashed to lows not seen since last year, when the altcoin surged by around 600%. On-chain analytics platform CryptoQuant noted that this development could be bullish for XRP as it looks to rebound to new highs. 

    XRP’s Open Interest Drops To Lowest Level Since 2024

    In a blog post, CryptoQuant analyst Arab Chain revealed that XRP’s open interest on Binance has fallen to its lowest level since 2024. The analyst noted that analysis of XRP Ledger data on the crypto exchange shows a clear rebalancing in the derivatives market, with open interest falling to almost $453 million, the lowest level since the end of last year. 

    Related Reading: Why You Should Pay Attention To XRP’s Exchange Netflows This Month

    Arab Chain noted that this development reflects a fundamental shift in trader behavior and confirms a significant decrease in leverage usage compared to previous periods. Notably, the XRP price looks to have been fueled by leverage in the early parts of this year. The analyst noted that open interest in XRP futures contracts exceeded $1 billion on several occasions, which coincided with strong price surges. 

    The XRP open interest also rose again in mid-2025 to levels similar to those recorded in the early months of the year, sparking significant volatility for XRP. However, Arab Chain noted that the current landscape is “markedly different.” Open interest has declined gradually and then sharply, indicating a significant exit by short-term speculators. 

    Source: Chart from CryptoQuant

    Meanwhile, the analyst explained that the decrease in XRP open interest carries dual implications. The first is that the decline in risk appetite and weakening momentum in the derivatives market explain the volatile price behavior in the absence of strong, liquidity-driven breakouts. 

    The second is that the contraction represents a healthy structural development, as it reduces the risk of forced liquidations and mitigates the abnormal pressures associated with excessive leverage. Arab Chain noted that periods of low open interest often represent transitional phases, during which the market shifts froma highly speculative environment to a calmer one that relies heavily on genuine spot demand. 

    XRP May Be Preparing For Another Significant Rally

    Crypto analysts have suggested that XRP may be preparing for another significant rally, although it remains to be seen if it could rally 600% like last year. In an X post, crypto analyst Niels stated that the altcoin is forming a higher low around this level. He noted that this is a similar structure that happened in April this year, before a new all-time high (ATH). The analyst added that a push above $2 could put the bulls in control. 

    Related Reading: XRP Stochastic RSI Just Touched 0.0 For The Second Time In History

    Crypto analyst Chart Nerd predicted that XRP could reach a new ATH on its next leg to the upside. This came as he noted that the altcoin was in the middle of an ABC reset. His accompanying chart showed that XRP could reach as high as $4.5 on this impulsive move to the upside, which is expected to happen in the first half of next year. 

    At the time of writing, the XRP price is trading at around $1.84, down in the last 24 hours, according to data from CoinMarketCap.

    XRP
    XRP trading at $1.85 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

    Scott Matherson

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  • Bitcoin Has Entered A Bear Market, And This Data Backs It Up

    The ongoing Bitcoin price play out leading into a bear market is now one of the most pressing questions in the crypto industry. Right now, Bitcoin is trading between $87,700 and $88,000, which is a 30% drop from the all-time high it reached in October 2025. 

    Price action alone often leaves room for debate, but on-chain data is beginning to offer clearer guidance. Notably, analysis from CryptoQuant shows that Bitcoin’s internal market structure is shifting in a way that aligns more closely with early-stage bear market conditions.

    BCMI Drops Below Equilibrium

    The important bear market signal is from Bitcoin’s Combined Market Index, or BCMI, which is a composite indicator that blends price behavior with on-chain momentum. According to Woo Minkyu, a verified analyst on the CryptoQuant platform, Bitcoin’s BCMI returned to the 0.5 level in October. This was initially interpreted as a cooling phase rather than a definitive cycle top. At the time, the assumption was that Bitcoin was consolidating after an extended rally.

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    However, that view has weakened with the deterioration of market conditions. Particularly, Bitcoin’s price action has declined materially since late October, and the BCMI has fallen in tandem with the price. This joint decline suggests the market has reset not only through time but also through valuation and participation. 

    Source: Chart from CryptoQuant

    As shown on the chart below, the BCMI has now slipped below its equilibrium zone, and this is a development that is known to coincide with transitions into bearish phases, where rallies tend to be capped, and downside risks increase.

    A closer look at prior Bitcoin cycles adds more context to the current setup. In both 2019 and 2023, meaningful cycle bottoms formed only after BCMI compressed into the 0.25 to 0.35 range. Those levels reflected deep sentiment compression, washed-out positioning, and a structural reset of the market.

    At current readings, Bitcoin’s Combined Market Index is less than 0.4. This reading is below equilibrium but still well above a bottom zone. This opens the possibility that the market is transitioning into a bear phase, not just experiencing a pullback.

    According to the analyst, a more durable bottom may only form if history repeats itself and the BCMI revisits 2019-2023 levels.

    Weak Sentiment Adds To Bear Market Evidence

    Market sentiment is also supporting the idea that Bitcoin is moving deeper into a bearish phase. Optimism has been really scarce in recent weeks, with traders showing little confidence that the price has found a sustainable floor. CoinMarketCap’s Crypto Fear and Greed Index is currently posting a reading of 28, which places sentiment firmly in the Fear zone.

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    This poor sentiment backdrop has been affirmed by industry commentary. For instance, Changpeng Zhao recently noted that many investors only wish they had bought Bitcoin early when prices were already at all-time highs. In practice, those early accumulations happened during periods like the present one, when fear, uncertainty, and doubt dominate market psychology.

    Bitcoin
    BTC trading at $87,510 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • Financial Strategist Debunks Prediction That Bitcoin Price Will Reach $220,000 In 45 Days

    A recent claim that the Bitcoin price could surge to $220,000 in just 45 days has drawn sharp criticism from a financial strategist. The analyst frames such ambitious forecasts as unrealistic and highly speculative. Considering the recent decline in the BTC market, if the projection is taken at face value without supporting data, it overlooks ongoing market trends, macroeconomic conditions, and potential investor risks. 

    Strategist Labels $220,000 Bitcoin Price Forecast “Nonsense”

    South Korean scientist YoungHoon Kim, who holds the world’s highest reported IQ of 276, recently predicted that Bitcoin could more than double its current price and reach $220,000 within 45 days. Based on this forecast, the BTC price is expected to surge by over 151% from current levels below $87,500, potentially reaching a new all-time high by mid-January 2026. 

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    With Bitcoin down more than 31% from its ATH above $126,000, the bold forecast came as a surprise to many crypto members. The founder of Black Swan Capitalist, Versan Aljarrah, in particular, criticized the projection, calling it “nonsense.” He described it as an example of the speculative behavior that has long characterized the crypto space. 

    Source: Chart from YoungHoon Kim on X

    Aljarrah argued that predictions like Kim’s, which lack the visible support of a technical analysis, are what transform the crypto space into a “circus.” He highlighted that Bitcoin maxis will often go to extreme lengths to sustain the hype, promoting narratives that keep the speculative bubble alive even when market fundamentals raise caution.

    The Black Swan Capitalist founder also disclosed that Bitcoin has historically functioned more as a tool for predators and bad actors. His statements suggest that Kim’s forecast oversimplifies the complexities of the crypto market and distracts investors and traders from the fundamental structural factors driving Bitcoin’s price.  

    Bitcoin Price Continues To Falter Amidst Bullish Forecasts

    The Bitcoin market remains at a crossroads, with analysts forecasting sharp upward moves despite choppy price action. Despite predictions of a potential rally, BTC’s recent performance paints a more cautious picture, as its price has fallen by more than 20% over the past month, according to CoinMarketCap. 

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    Crypto analyst Pepesso recently issued a bullish forecast, suggesting that Bitcoin may have hit its bottom and could potentially start a recovery toward levels between $126,000 and $160,000. However, broader market indicators, such as the Fear and Greed Index, point to extreme fear, suggesting investors remain highly uncertain about BTC’s near-term outlook. 

    Other analysts, like Gen Detector, have presented a more conservative outlook, predicting that Bitcoin could first stabilize around the $100,000 psychological level before its next bear wave begins. However, he has not ruled out the likelihood of further price corrections, highlighting the potential for BTC to revisit the $70,000 to $50,000 range before the next major bull run.

    Bitcoin
    BTC trading at $86,867 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pngtree, chart from Tradingview.com

    Scott Matherson

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  • Who’s Selling? Here’s The Demographic Driving The Bitcoin, Ethereum, And Dogecoin Price Crash

    Recent data has revealed the demographics of sellers driving the Bitcoin, Ethereum, and Dogecoin crash. The Coinbase BTC premium index also continues to drop further in the red, which strengthens the case of where exactly the sell pressure is coming from.

    The Demographic Behind The Bitcoin, Ethereum, And Dogecoin Price Crash

    In an X post, crypto pundit Crypto Rover noted that the U.S. session has been the weakest trading session so far this month. The pundit further shared an accompanying chart, which showed that BTC has suffered a loss of around 12% in the U.S. session since the start of November, also leading to the Ethereum and Dogecoin crash. 

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    Meanwhile, the EU has had the second-weakest session after the U.S., with Bitcoin dropping around 12% in this session since the start of this month. The Asian session has been the least volatile, with BTC trading sideways, recording a drawdown of only about 2% since the start of November. Ethereum, Dogecoin, and altcoins have also been stable during the Asian trading session. 

    Source: Chart from Crypto Rover on X

    Crypto pundit Bossman also indicated that the U.S. was responsible for most of the sell pressure that is driving the Bitcoin, Ethereum, and Dogecoin crash. In an X post, he noted that every single American session is marked by relentless selling for hours. Meanwhile, the Asians wake up, buy it all back, and then the Americans wake up, and the selling begins again.

    Notably, the Bitcoin, Ethereum, and Dogecoin prices record increased volatility whenever the U.S. stock market opens, with market commentator Zerohedge attributing it to the ‘10 am slam’ by market algos. This indicates that institutional investors are heavily contributing to the market crash. This is evident in the significant outflows recorded by Bitcoin ETFs in recent times. These funds have recorded five daily net outflows over the last seven days, according to SoSoValue data.

    Coinbase BTC Premium Index In The Red

    CoinGlass data shows that the Coinbase Bitcoin premium index is in the red, further confirming that most of the sell pressure driving the BTC, Ethereum, and Dogecoin crash is coming from the U.S. Typically, a negative premium indicates that the BTC price on Coinbase is lower than the average global price, which signals weak demand from U.S. investors. 

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    Crypto researcher Kyle Soska noted that Bitcoin and Ethereum are roughly 10 days into a derisking event by U.S.-based entities, likely a combination of ETF users and large private, ultra-high-net-worth individuals. He further remarked that this places the market near the end of the selling episode based on historical data. 

    Soska opined that the first of a near-term bottom would be a mean reversion of the Coinbase-Binance spot discount from its current level of around -$110 back to a more normal level range of around $40. 

    At the time of writing, the Bitcoin price is trading at around $85,000, down over 6% in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    BTC trading at $83,783 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • Famous Trader Bets $27 Million That The XRP Price Will Crash

    A famous trader is betting on a significant XRP price crash amid this recent market downtrend. The altcoin continues to struggle despite the recent launch of Canary’s XRP ETF, with popular analyst Ali Martinez suggesting it could soon drop below the psychological $2 level. 

    Famous Trader Opens $27 Million Short Position On XRP

    In an X post, the on-chain analytics platform Lookonchain revealed that a famous trader is shorting the market again, opening a 20x short on XRP worth $27.4 million. The trader has also opened short positions of 40x and 10x on Bitcoin and ZEC, respectively, worth $148.5 million and $20.4 million. 

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    This comes as the XRP price continues to struggle, putting it at risk of a further decline, especially with concerns that Bitcoin may already be in a bear market. Crypto analyst Ali Martinez also predicted that XRP could drop to as low as $1.73 if it loses the $2.15 support level. 

    Meanwhile, XRP continues to face significant selling pressure despite increased institutional adoption through the launch of Canary’s XRP fund, with more XRP ETFs also set to launch. Santiment data shows that whales holding between 1 million and 10 million coins recently sold almost 200 million coins in the space of 48 hours. 

    Source: Chart from Ali Martinez on X

    This may just be the start of a larger sell-off following Glassnode’s recent revelation. The on-chain analytics platform revealed that the share of XRP supply in profit has fallen to 58.5%, which is the lowest since November 2024, when the price was trading at around $0.53. Glassnode further noted that despite XRP trading 4x higher now, 41.5% of its supply (around 26.5 billion) sits in loss, which it claimed is a “sign of a top-heavy and structurally fragile market”.

    Macro Structure Points To A Decline To $2.03

    Crypto analyst CasiTrades stated that XRP is still likely making its way down to the macro .5 fib support at $2.03. She claimed that the move is playing out perfectly as Wave 2s are corrective and that the choppiness is exactly how the market should behave. The analyst further revealed that the only invalidation of the drop to the $2.03 support is a decisive break above the macro .382 level at $2.41. 

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    CasiTrades explained that this $2.41 level remains the line in the sand and that, as long as XRP stays below it, the structure points to a final sweep of $2.03. She also raised the possibility of a drop to the “still-valid” macro target at $1.65, which is the .618 fib level. The analyst noted that Wave 2 corrections commonly reach the .618 and that the longer XRP ranges without breaking resistance, the more probable a drop to that level becomes. 

    CasiTrades stated that a move to $1.65 would not be bearish, as it would build the kind of momentum needed for a powerful macro Wave 3 to new all-time highs (ATHs). She has predicted that XRP could rally to a new ATH of as high as $10. 

    At the time of writing, the XRP price is trading at around $2.15, down in the last 24 hours, according to data from CoinMarketCap.

    XRP
    XRP trading at $2.15 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

    Scott Matherson

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  • High Liquidity At This Level Could Send The XRP Price Surging Soon

    Crypto analyst Steph has highlighted a high liquidity level that could spark a significant surge for the XRP price. This comes as the altcoin struggles to reclaim the psychological $3 level, which could lead to a further rally to new highs. 

    Liquidity Level That Could Spark An XRP Price Surge

    In an X post, Steph revealed that the liquidity around $3.2 is expanding for the XRP price and that the market is charging toward the highest cluster. He explained that there are many buy and sell orders around this level, with market makers often looking to capture liquidity at price levels with significant liquidity clusters like this one.

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    As such, the XRP price could rally to $3.2 at some point, reclaiming the $3 level in the process. However, the crypto market is currently on a downtrend, which makes this rally less unlikely for now. XRP has struggled to break out of its current range since the $19 billion liquidation event on October 10. 

    Source: Chart from Steph on X

    Crypto analyst CasiTrades had recently predicted that the XRP price could still drop to as low as $1.4 before it records a bullish reversal. She claimed that this will set the stage for the next Wave 3 impulse that could send XRP toward $6.50 or $10. Meanwhile, for the projected XRP crash to be invalidated, the analyst stated that the altcoin needs to break and hold above $2.82. 

    However, Steph revealed that the XRP price has formed a double bottom, which he predicts would lead to a reversal above $3. The analyst is also confident that XRP will reach a new all-time high (ATH), predicting a rally to $4.50 as he highlighted a compression on the chart. 

    Why Current Price Action Is Still Bullish 

    Crypto analyst Egrag Crypto revealed that the XRP price is making higher highs and that the RSI is also making higher highs, which he noted means strong bullish momentum and that buyers are still in control while the trend is healthy. He added that there is no bearish divergence, so momentum is confirming the price move. 

    Related Reading

    Egrag Crypto further remarked that when the XRP price and RSI rise together, the uptrend is real and supported by strength. He suggested that XRP holders should only be worried when the price makes higher highs but the RSI makes lower highs. He explained that this is when a bearish divergence could occur, indicating weakening momentum. Meanwhile, the analyst also mentioned that a close above between $2.65 and $2.70 with confirmation is key. 

    At the time of writing, the XRP price is trading at around $2.5, down over 3% in the last 24 hours, according to data from CoinMarketCap.

    XRP
    XRP trading at $2.57 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Freepik, chart from Tradingview.com

    Scott Matherson

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  • Crypto Analyst Says Dogecoin Price Is ‘Parabolic Coded’ To $1, Here’s What It Means

    Crypto analyst EtherNasyonaL has predicted that the Dogecoin price is well-primed for a parabolic rally. This came as he alluded to the meme coin’s historical performance, while declaring it was “parabolic coded.”

    Dogecoin Price Eyes Rally To $1 As Analyst Says Meme Coin Is ‘Parabolic Coded’

    In an X post, EtherNasyonaL predicted that the Dogecoin price could rally to the psychological $1 level, hinting that the meme coin was well-positioned for a parabolic rally. The analyst highlighted DOGE’s historical performance in the fourth quarter of 2023 and 2024, when it recorded gains of 246% and 373%, respectively. Based on this, he raised the possibility that the meme coin could also witness significant gains in this fourth quarter. 

    Related Reading

    EtherNasyonaL advised market participants to position themselves as the Dogecoin price eyes this parabolic rally to $1, which will mark a new all-time high (ATH) for the meme coin. In another X post, the crypto analyst again doubled down on his bullish forecast for the meme coin. He stated that the DOGE cycle 3 continues and is heading towards parabolic waves once again. 

    Source: Chart from Ether Naysonal on X

    EtherNasyonaL noted that in the first cycle, the Dogecoin price rose by 21,825%, while in the second cycle, the meme coin rose by 54,890%. He further remarked that DOGE is up 800% in this third cycle from its borrow to the December 2024 peak of around $0.48. The analyst added that Dogecoin has made massive jumps after every bottom in the past, suggesting that this time will not be different. 

    EtherNasyonaL claimed that the chart suggests that the Dogecoin price may be on the verge of another major move. His accompanying chart showed that DOGE could rally above $1.5 on this next leg to the upside. 

    ‘Conservative’ Target Of $11 For DOGE

    Crypto analyst Dima Potts predicted that the Dogecoin price could gain 37x from its start price this year of $0.31, reaching $11.71 by the end of the year. He described this as his conservative target, as he was avoiding projecting a 283x move, which will follow the pattern of the 83x and 183x gains the meme coin recorded in the first and second cycles, respectively. 

    Related Reading

    However, Dima Potts suggested that the Dogecoin price may be mirroring its historical price action. He revealed that DOGE is once again approaching the yellow resistance line, currently around $0.41 on the weekly timeframe. The analyst added that if the meme coin closes above this level, history suggests it could be on the verge of another massive rally, similar to the parabolic moves in past cycles.

    At the time of writing, the Dogecoin price is trading at around $0.25, up in the last 24 hours, according to data from CoinMarketCap.

    Ethereum
    DOGE trading at $0.24 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

    Scott Matherson

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  • Why The Bitcoin Price Might Never Drop Below $100,000 Again

    Crypto analyst PlanB has explained why the Bitcoin price may never drop below $100,000 again. This comes as market participants continue to speculate on whether the flagship crypto could fall below this psychological level if a full-blown bear market were to occur. 

    Bitcoin Price Has Likely Turned $100,000 Into Support

    PlanB stated in an X post that he will not be surprised if the Bitcoin price does not drop below $100,000 again as the market witnesses the $100,000 resistance turn into $100,000 support. The analyst further noted that the September close was the fifth consecutive monthly close above that psychological price level. 

    Related Reading

    PlanB stated that the same thing happened when the Bitcoin price was trading at $10,000, $1,000, $100, and $10. The analyst’s remarks came as he noted that 63% of people think that Bitcoin will drop below $100,000. Notably, there were more calls for a drop below $100,000 towards the end of September when BTC dropped to as low as $108,000. Crypto influencer Ansem was among those who predicted that the flagship crypto would likely retest $90,000. 

    Source: Chart from PlanB on X

    However, the Bitcoin price has since staged a remarkable comeback from the $108,000 lows, rallying to a new all-time high (ATH) above $126,000 to start the month. As a result, BTC is already up 7% to start the month, with October notably the flagship crypto’s second-best performing month after November, based on historical data. 

    It is worth noting that the Bitcoin price has traded above $100,000 since May 8 and has now been above this psychological level for over 150 days, its longest streak. Meanwhile, market participants are currently betting that it will likely stay this way. According to Polymarket data, there is only a 25% chance that BTC will drop below $100,000 by the end of this year. 

    BTC Bull Market Still On

    Crypto analyst Titan of Crypto declared that the crypto market is still on and questioned why market participants were in a rush to call the top. The analyst noted that the Stoch Relative Strength Index (RSI) crossovers keep aligning with strength. He added that the chart will tell them when the bull run is over, but for now, that is not the case. 

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    In another analysis, Titan of Crypto revealed that the Bitcoin price continues to print higher highs and higher lows. Based on this, he raised the possibility that BTC could rally to as high as $160,000 by the end of the year. This aligns with predictions by JPMorgan and Standard Chartered, which predict that BTC can reach $165,000 and $200,000, respectively, by year-end. 

    At the time of writing, the Bitcoin price is trading at around $122,000, up in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    BTC trading at $121,768 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • Bitcoin Price Forms Bearish Evening Star Pattern On Weekly Chart, But Can Price Go Below $100,000?

    Market expert Tony Severino has raised some concerns with the current Bitcoin price action on the weekly chart. This comes as the flagship crypto trades below $110,000, with predictions that it could further drop below the psychological $100,000 level. 

    Bitcoin Price Forms Bearish Pattern On Weekly Chart

    Severino revealed in an X post that the Bitcoin price is potentially forming an Evening Star pattern on the weekly chart, something he is wary of. He noted that this pattern is forming right at the Bollinger Band basis line, at around $111,600, during the tightest BB squeeze in BTC’s history. 

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    The market expert had earlier revealed that the Bitcoin price’s weekly Bollinger Bands are officially the tightest in the entire history of BTCUSD price action. Essentially, BTC is currently trading within a tight range, indicating low volatility. Severino’s accompanying chart shows that the upper BB is at around $122,000, the basis BB is at $111,600, while the lower BB is at $101,000. 

    Source: Chart from Tony Severino on X

    Meanwhile, the Evening Star pattern suggests that the bears are taking control from the bulls, putting the Bitcoin price at risk of a further downtrend. With the Bollinger bands being this tight, Severino may be cautious of how this could lead to a BTC decline to the lower BB basis. Crypto analyst Bob Loukas confirmed that the bears are in control and indicated that BTC could still drop below $100,000. 

    He noted that the Bitcoin price is looking to print its Weekly Cycle Low, although he opined that BTC is holding up well despite the current downtrend. The analyst declared that a rally to $118,000 will confirm the start of a new cycle. 

    Until then, the bears will remain in control. His accompanying chart showed that the flagship crypto could risk dropping below $100,000 during this period when the bears are in control. However, in the long run, Loukas still expects the Bitcoin price to rally to as high as $140,000. 

    BTC Needs To Reclaim $116,300

    Crypto analyst Ali Martinez also warned that the Bitcoin price needs to reclaim $116,300 or risk dropping as low as $94,334 based on the Pricing Bands. He had earlier stated that $107,200 is the crucial support for Bitcoin. The analyst claimed that a drop below that support level would put $100,000 or even $93,000 in play. 

    Related Reading

    Meanwhile, crypto analyst Titan of Crypto noted that the Bitcoin price has broken below the trendline at $110,000. He remarked that confirmation is still needed and that the lagging span must follow to validate this bearish move. However, the analyst is one of those who doesn’t believe that BTC has topped, noting that the market is in a period of fear and that this has never marked the cycle top.

    At the time of writing, the Bitcoin price is trading at around $109,600, up in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    Bitcoin trading at $109,277 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • Demand For XRP On CME Explodes As Reports Show Over $18 Billion

    Demand for XRP on the CME derivatives exchange continues to rise, providing a bullish outlook for the altcoin. This comes ahead of the potential approval of the XRP ETFs, which could further spark institutional demand for XRP. 

    CME XRP Futures Hit New Milestone

    In an X post, the CME group announced that it has hit its four-month milestone for XRP futures, with a notional trading volume of $18.3 billion, 6 billion XRP traded, and 397,000 contracts traded. This again highlights the demand for the altcoin, with the derivatives exchange previously stating that the altcoin’s futures products have shown demand from both institutional and retail participants. 

    Related Reading

    Notably, the CME XRP futures crossed $1 billion in open interest (OI) last month, with the altcoin becoming the fastest-ever contract to do so, having hit the mark in just three months. 

    Amid the demand for the altcoin on the derivatives exchange, CME has announced plans to launch options trading on the XRP futures on October 13. 

    This is expected to further boost the demand on the CME exchange, which is a positive for the altcoin. This new milestone for XRP futures comes just ahead of the potential launch of XRP ETFs under the 33 Act, which will also elevate institutional interest in the altcoin. Fund issuers are expected to file amendments for their respective funds as soon as the end of this week. 

    This comes amid the SEC’s approval of the generic listing standards, which could enable these XRP ETFs to launch earlier. If that doesn’t happen, the focus will shift to Grayscale’s October 18 deadline, which is the first final deadline among all seven XRP filings. The commission could approve these funds simultaneously, just as it did with the Bitcoin and Ethereum ETFs. 

    Massive Demand Expected For The ETFs

    It is worth mentioning that market expert Nate Geraci had previously alluded to the success of the CME XRP futures as one of the reasons he believes people are underestimating the demand the spot XRP ETFs may record. He also noted at the time that there was already over $800 million in futures-based XRP ETFs. 

    Related Reading

    In another X post, Geraci doubled down on his statement that people are “severely” underestimating the investor demand for the spot XRP ETFs. He noted how a similar thing happened with the spot Bitcoin and Ethereum ETFs, which have so far exceeded expectations. 

    Canary Capital CEO Steven McClurg also has high expectations for the XRP ETFs, predicting that they could record up to $5 billion in inflows in their first month. He also believes that they could outperform the Ethereum ETFs in the process. 

    At the time of writing, the altcoin price is trading at around $2.75, down over 3% in the last 24 hours, according to data from CoinMarketCap.

    XRP trading at $2.76 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

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  • Analysts Predict Dogecoin Price Will Explode: Why The $1 Mark Is Inevitable

    Crypto analysts Kaleo and Mags have predicted that the Dogecoin price will witness a parabolic run, with the potential to reach the $1 mark. This comes amid the top meme coin’s downtrend, which puts it at risk of retesting the $0.2 mark. 

    Dogecoin Price Eyes Parabolic Rally To $1

    In an X post, Kaleo declared that the Dogecoin price will rip to new highs from its current level. He further remarked that it is only a matter of time before prices catch up with institutional interest coming from DOGE treasury companies and ETFs. In line with this, he advised market participants not to “sleep on the king of memes.”

    Related Reading

    Meanwhile, crypto analyst Mags indicated that the Dogecoin price could rally to as high as $1 on this projected parabolic rally. He suggested that there is no way that the “father of all meme coins,” which is supported and shilled by Elon Musk, wouldn’t be able to pull a 3x increase in this market cycle. 

    Mags asserted that the bull run is dedicated to meme coins and that the Dogecoin price will lead the meme coin supercycle round 2. It is worth mentioning that Elon Musk’s lawyer, Alex Spiro, is the Chairman of CleanCore, the foremost DOGE treasury company, which is looking to acquire up to 1 billion coins. The company already holds over 600 million DOGE. 

    As Kaleo noted, institutional interest has also picked up following the launch of REX-Osprey’s Dogecoin ETF, which became the first meme coin ETF to launch. The Dogecoin price had notably surged above $0.3 ahead of the ETF’s launch. However, it has been on a downtrend since the fund launched, indicating that this was a ‘sell the news’ event. DOGE is down over 12% since then, a development which also comes amid a broad crypto market downtrend. 

    DOGE Will Reach Its ATH At The Minimum

    Crypto analyst Javon Marks has predicted that the Dogecoin price will reach its all-time high (ATH) of $0.73 at the minimum. He claimed that, based on historical trends, up next for DOGE is a rally of over 195%, which will send the meme coin to a new ATH above $0.739. His accompanying chart suggested that DOGE can reach the psychological $1 level in the process. 

    Source: Chart from Javon Marks on X

    Meanwhile, crypto analyst Kevin Capital highlighted how the Dogecoin price rallied 400% to $0.48 within a short period last year. He noted that crypto does nothing until it does something, and that it requires an incredible amount of patience and skill. However, the analyst emphasized that anyone can pull off the biggest trade if they can identify and have the conviction to buy at the lows, suggesting that it may be a good time to buy the dip. 

    Related Reading

    At the time of writing, the Dogecoin price is trading at around $0.235, down almost 2% in the last 24 hours, according to data from CoinMarketCap.

    Dogecoin
    DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Scott Matherson

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  • Total Illiquid Bitcoin Has Reached 72% Of Supply, What Does This Mean For Price?

    The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to the BTC supply that is unlikely to hit the open, given the long-term holding of the investors who own these coins. 

    Bitcoin’s Illiquid Supply Hits New High

    Glassnode data shows that Bitcoin’s illiquid supply has reached a new high of 14.3 million BTC, marking over 72% of the flagship’s circulating supply. This supply is held by long-term holders (LTHs) who haven’t moved their coins in over seven years, highlighting a strong conviction in the flagship crypto. 

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    A large part of Bitcoin’s supply being in the hands of long-term holders is typically bullish, as it continuously reduces the amount of selling pressure on the coin. It could also lead to a potential supply shock, whereby demand outpaces supply. 

    Source: Chart from Glassnode on X

    Asset manager Fidelity stated in a research report that this new demand for BTC, coupled with a fixed supply and decreasing issuance schedule, was what likely sparked the rally to a new all-time high (ATH) above $124,000. Fidelity further predicted that this upward trend for the Bitcoin price could continue in the years ahead. 

    Meanwhile, Fidelity highlighted two distinct cohorts that satisfy the threshold of Bitcoin’s illiquid supply. The first is the BTC that was last moved seven or more years ago, while the second is public companies that hold at least 1,000 BTC. Michael Saylor’s Strategy leads the latter as his company currently holds 638,985 BTC, which accounts for over 3% of Bitcoin’s total supply. Strategy hasn’t sold any coin since it began accumulating in 2020. 

    Fidelity predicts that the combined group will hold over six million Bitcoin by the end of 2025 or over 28% of the crypto’s total supply of 21 million. The asset manager noted that BTC’s illiquid supply has only decreased quarter-over-quarter once in its history. 

    BTC’s Scarcity May Become Its “Focal Point”

    Fidelity predicts that over time, Bitcoin’s scarcity may become the focal point as more entities buy and hold BTC long term. They noted that the illiquid supply could rise drastically if nation-state adoption increases and the regulatory environment continues to evolve. Countries like the U.S. are already looking to establish a Strategic Bitcoin Reserve, which could create a massive supply shock. 

    Related Reading

    On the other hand, Fidelity noted that there is the possibility of large amounts of Bitcoin’s illiquid supply being transferred. This could happen as long-term holders and public companies move to realize gains, possibly due to a significant price appreciation. The asset manager earlier mentioned that early signs of potential capitulation may already be emerging as 80,000 ancient BTC were sold in July 2025.  

    At the time of writing, the Bitcoin price is trading at around $115,600, down in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    BTC trading at $115,963 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • XRP Exchange Reserves Balloon 1.2 Billion In One Day, Why This Is Bearish For Price

    XRP Exchange reserves have surged by 1.2 billion in just a day, presenting a bearish outlook for the XRP price. This development comes as the token looks to hold above the psychological $3 level. 

    XRP Exchange Reserves Increase By 1.2 Billion In Just A Day

    A CryptoQuant analysis by CryptoOnchain revealed that XRP Exchange reserves jumped by 1.2 billion in a day across four crypto exchanges, with Binance leading the surge. Bithumb, Bybit, and OKX also experienced a major increase in their reserves, a development which CryptoOnchain noted shifted the volume of XRP’s reserves in an unprecedented manner. 

    Related Reading

    Binance saw its reserve holdings increase from around 2.928 billion XRP to 3.538 billion XRP, an increase of over 610 million XRP in a single day. Meanwhile, Bithumb saw its holdings increase from 1.647 billion to 2.519 billion, Bybit’s holdings increased from 188 million to 380 million XRP, and OKX’s XRP reserves jumped from 112,000 to 233 million. 

    Source: Chart from CryptoQuant

    This development is typically bearish, as an increase in crypto exchanges’ reserves indicates that investors are offloading their coins. This would also explain why XRP has underperformed in recent times and has struggled to hold above the psychological $3 price level. During this period, other altcoins like Solana and BNB have outperformed XRP, reaching new local highs.

    Accumulation Rather Than Sell-offs

    CryptoOnchain revealed that the increase in XRP Exchange reserves is a case of accumulation rather than the typical sell-offs. The analyst noted that the price chart indicates that this heavy accumulation occurred precisely at the key support level of around $2.73, a level that has previously prevented the altcoin from experiencing massive declines. 

    Related Reading

    The analyst then pointed to the RSI and MACD indicators a day after the increase in the XRP Exchange reserves, which shows a decrease in selling pressure on the token.CryptoOnchain explained that this could mean that the heavy buying by exchanges was aimed at accumulation rather than immediate injection into the market. 

    CryptoOnchain also noted that the pattern of these large accumulations across the crypto exchanges and at a critical support level could be a sign of institutional coordination or an upcoming event. Notably, the XRP ETFs could launch next month, which would represent a significant development for the XRP price. 

    The analyst stated that if the current support holds and buying volumes continue, the XRP price could rally to higher resistances at $3.34 and $3.58. However, CryptoOnchain warned that if the support is broken, selling pressure could turn the increase in XRP Exchange reserves into an opportunity for massive supply. 

    At the time of writing, the XRP price is trading at around $3.06, up over 2% in the last 24 hours, according to data from CoinMarketCap.

    XRP
    XRP trading at $3.04 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

    Scott Matherson

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  • Cycle 3 Expectations Show Dogecoin Price Could Cross $10 With This Decisive Break

    Crypto analyst DOGECAPITAL has predicted that the Dogecoin price could rally above $10. He revealed that the foremost meme coin needs to have a decisive break above a particular level for it to record this parabolic run to the upside. 

    Dogecoin Price Eyes Rally To $10 Based On Cycle 3 Expectations

    In an X post, DOGECAPITAL indicated that the Dogecoin price could rally to $10 based on historical cycle patterns. He noted that in Cycle 3, which is the current cycle, DOGE has already crossed critical price levels and is now approaching the $0.30 range again. The analyst claimed that if the pattern continues, a decisive break above this level could ignite the next parabolic run. 

    Related Reading

    This prediction came as DOGECAPITAL revealed that the Dogecoin price monthly chart reveals a recurring pattern in its price action across each major cycle. He further noted that in every cycle, bullish momentum tends to ignite as the DOGE price nears the intersection of the green and red lines. The analyst added that a parabolic rally typically follows once the price breaks above the yellow line.

    Historical pattern hints at a massive surge | Source: Chart from DOGECAPITAL on X

    DOGECAPITAL noted that, in Cycle 1, the Dogecoin price surged 9,221% almost immediately after crossing the green/red line intersection. Meanwhile, in Cycle 2, a similar setup led to a more parabolic rally of over 24,617% for the meme coin after the same crossover. Now, in Cycle 3, DOGE has crossed the green and red lines and is now looking to break above the yellow line for a parabolic rally beyond $10. 

    DOGECAPITAL stated that historically, each bull run has outperformed the last. He alluded to factors such as growing adoption, less inflation, rising institutional interest, and ongoing technological advancements as what could spark a greater rally in this cycle than the previous ones. 

    A Rally To A New ATH Is Imminent

    In an X post, crypto analyst Kevin Capital suggested that a Dogecoin rally to a new all-time high (ATH) is imminent. He noted that DOGE monthly Stoch RSI crosses during bear markets and bull markets have produced very predictable price action in the past. The analyst added that if the macro continues to align the way it is currently, then it will remain predictable, hinting at a rally to the upside. 

    Related Reading

    Kevin Capital noted that the stars need to align not just from a technical analysis perspective, but also in relation to monetary policy expectations and macroeconomic data. From a fundamentals perspective, it is also worth mentioning that the first spot Dogecoin ETF could launch this week after Rex-Osprey teased about the launch last week. 

    At the time of writing, the Dogecoin price is trading at around $0.23, up over 7% in the last 24 hours, according to data from CoinMarketCap.

    Dogecoin
    DOGE trading at $0.23 on the 1D chart | Source: DOGEUSDT on Tradingview.com

    Featured image from Getty Images, chart from Tradingview.com

    Scott Matherson

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  • Ripple’s XRP Ledger Just Introduced A Pivotal Update In Its Quest For Dominance

    New updates have been made to Ripple’s XRP Ledger (XRPL) as the network looks to dominate and gain more traction. This is also a positive for XRP, which serves as the network’s bridge currency. 

    Ripple’s XRP Ledger Gets A New Update

    In an X post, XRP validator Vet revealed that the credentials amendment on the XRP Ledger is now active. He explained that credentials can be applied to attest to compliance requirements, such as KYC and AML, for a user or institution and issued to their decentralized identity. This helps to further build trust in the network.  

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    Vet also noted that the amendment has all been done natively on the XRP Ledger. Notably, this update is part of a larger move to enable compliance amendments on the network. With decentralized identities and credentials implemented, Vet indicated that their next focus is to work on the permissioned domains and permissioned DEX.

    Ripple and other XRP Ledger stakeholders aim to utilize these compliance amendments to attract more institutions to the network, enabling them to adhere to traditional finance (TradFi) standards even on-chain. This also comes as the network aims to become the go-to for tokenization. Ripple recently stated that 10% of global assets will become tokenized by 2030, and is undoubtedly looking to tap into this trillion-dollar market.

    Ripple Engineer Breaks Down Significance Of This Update

    In an X post, Ripple engineer Kenny explained that the credentials update gives developers and businesses a way to handle identity checks and compliance requirements directly on the XRP Ledger. With these, they do not need to approve each account one by one manually.  The Ripple engineer noted that traditionally, verifying user credentials like KYC requires multiple checks across different platforms. 

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    Kenny remarked that this process isn’t only inefficient but also increases privacy risks because sensitive information has to be shared multiple times. As such, this makes the XRP Ledger credentials update vital. The Ripple engineer revealed that this feature enables credentials to be issued, stored, and verified natively on the XRPL. 

    He noted the benefits of how this allows users to prove a required criterion without undergoing repeated verification. Kenny also stated that this will improve the onboard process and enhance security, while maintaining privacy. The Ripple engineer further gave an example of what a typical flow will look like using this credentials feature. 

    A business will define the credentials it requires, such as the KYC, then a trusted issuer creates and signs that credential. The user then accepts and stores these credentials in their XRP Ledger account. That way, the credential is checked on-chain whenever the user interacts with the business.

    At the time of writing, the XRP price is trading at around $2.83, up in the last 24 hours, according to data from CoinMarketCap.

    XRP trading at $2.81 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from Adobe Stock, chart from Tradingview.com

    Scott Matherson

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  • Is The Bitcoin Price Bottom In? Here’s What Social Sentiment Says

    On-chain analytics platform Santiment has weighed in on whether the Bitcoin price has reached its bottom, following its drop to the $108,000 range. The platform alluded to the current social sentiment, suggesting that a further drawdown may be looming. 

    Bitcoin Price Bottom Not Yet In Amid Spike In Social Dominance

    In a research report, Santiment indicated that the Bitcoin price bottom may not yet be in, considering the surge in the social dominance of ‘buy the dip’ mentions. The platform explained that a true bottom is often marked not by price but by a shift in social narrative from ‘buy the dip’ optimism to widespread fear. This creates a strong bearish case that discourages buying. 

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    Santiment suggested that the Bitcoin price typically rebounds when the sentiment is bearish and when investors least expect an uptrend. However, for now, market participants are still getting “antsy and trying to find some entry spots now that prices have cooled down a bit, Santiment analyst Brian Quinlivan explained. 

    The analyst opined that the cooldown in the Bitcoin price so far is not a huge one, while noting that BTC has detached from the S&P 500. Quinlivan predicted that BTC and other crypto assets could play catch-up to the stock market when the crowd stops getting too optimistic about buying the dip. He added that the true ‘buy the dip’ opportunities happen when the crowd stops believing there is an opportunity. 

    Source: Chart from Santiment

    In the research report, Santiment noted that the current ‘buy the dip’ chatter needs to be suddenly replaced by discussion of the narrative that supports the bearish case. In line with this, the platform advised market participants to pay close attention to the dominant social narrative. According to the report, when the conversation shifts from hopeful buying to widespread fear, it can be a stronger bottom signal than the Bitcoin price alone.

    Another Metric To Keep An Eye On

    The Santiment report indicated that BTC whale transfers are another key metric to watch for, as they can help determine if the Bitcoin price has reached its bottom. These whales, wallets holding 10 to 10,000 BTC, have not been selling off in any significant way despite the market dip. 

    Related Reading

    According to Maksim, who joined Santiment analyst Brian on the podcast, whenever these wallets do decrease their holdings, it can lead to “postponed price suppression weeks thereafter.” Therefore, Santiment advised market participants to monitor the holdings of large Bitcoin wallets. A lack of selling from whales could indicate underlying strength, while a significant drop can be a warning of future price weakness. 

    At the time of writing, the Bitcoin price is trading at around $107,800, down in the last 24 hours, according to data from CoinMarketCap.

    Bitcoin
    BTC trading at $109,600 on the 1D chart | Source: BTCUSDT on Tradingview.com

    Featured image from Pixabay, chart from Tradingview.com

    Scott Matherson

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  • XRP Price Soars: Analyst Predicts Surge Beyond $200

    XRP Price Soars: Analyst Predicts Surge Beyond $200

    In spite of a slight adverse trend in the crypto market, XRP has been gradually rising in recent days, fueling positive and bullish predictions from market analysts to unprecedented heights.

    XRP Might Rally To New All-Time High Sooner Than Expected

    Javon Marks, a cryptocurrency expert and internet personality, has revealed his optimism towards XRP, sharing a daring prediction regarding the crypto asset’s future with the community on the social media platform X (formerly Twitter).

    According to the crypto expert, XRP might be poised to undergo a significant movement that will send prices to unprecedented heights, where he highlighted that there is a possibility that XRP can rally beyond the $200 price mark.

    Marks noted that the digital asset is presently experiencing “another set of higher lows” that are holding. In addition, he pointed out that “another breakout” has taken place in the XRP chart.

    A potential rise to $200 and above | Source: Javon Marks on X

    As a result of this, XRP could witness “a massive upward movement” to New All-Time highs (ATHs), which Javon Marks expects to commence soon.

    The post read:

    A $200+ XRP (Ripple) can be possible. Another set of Higher Lows are holding and another breakout has taken place, meaning that a massive upside move to new All Time Highs can be commencing soon.

    The crypto analyst’s analysis aligns with a historical trend that had previously occurred in 2018, sending XRP’s price to its current ATH of $3.3. Prior to the surge, the token fell from the December 2013 high of $0.06, creating a bearish declining trendline.

    For several years, XRP was below this declining trendline, with two unsuccessful breakout trials during that timeframe. Nonetheless, after failing to break out twice, the coin persisted and managed to break out in 2017.

    After this breakout, it increased by over 63,000% to its present all-time high price of $3.3. Based on Mark’s predictions, it indicates that this precise trend is manifesting right now.

    However, some community members have expressed their displeasure with the analyst’s projections. A pseudonymous X user disagreed with Marks saying “It does not make any sense” given the “basic tokenomics” of the crypto asset.

    The Crypto Asset Poised For A Move Above $0.60

    Cryptocurrency analyst Ali Martinez has underscored the potential for XRP to move past the $0.60 price mark. According to his post, Martinez’s position was influenced by the observation made by the Tom DeMark (TD) Sequential.

    He stated that the TD Sequential indicator has formed a buying signal on the token’s chart. Consequently, this indicates a possible bullish momentum for XRP to move higher. 

    He further asserted that if it manages to maintain its weekly close above $0.57, it could serve as a catalyst for an upswing to $0.63 or even further, setting his target at $0.65 

    As of the time of writing, XRP was trading at $0.538, demonstrating a decline of 1.39% in the past day. Its market cap is down by 1.42%, while its daily trading volume is up by over 4%, according to CoinMarketCap.

    XRP
    XRP trading at $0.5347 on the 1D chart | Source: XRPUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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  • Ethereum ETF: Franklin Templeton Enters The Fray As ETH Rallies

    Ethereum ETF: Franklin Templeton Enters The Fray As ETH Rallies


    Wall Street titan and Asset manager Franklin Templeton has applied for an Ethereum Spot Exchange-Traded Funds (ETF) after a struggle to gain approval for their Bitcoin Spot ETF in early January.

    Asset Manager Files For Spot Ethereum ETF

    Asset managers have gravitated toward the Ethereum spot ETF since the United States Securities and Exchange Commission (SEC) approved the Spot Bitcoin ETF. Franklin Templeton is the latest manager to apply with the SEC to get approval for this financial product. 

    The asset manager’s move came after successfully introducing the BTC spot ETFs. This is a notable step toward making more crypto investment products accessible to institutional and individual investors.

    James Seyffart, a senior analyst from Bloomberg Intelligence, also shared the update with the crypto community on X (formerly Twitter). Seyffart’s X post included a screenshot of the asset manager’s filing and data regarding other applicants.

    According to the post, Franklin Templeton is the eighth company in the cryptocurrency market to file for product approval. Previous asset managers to file applications for Ethereum ETFs include Hashdex, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco, and Galaxy. 

    Per the official filing, a Delaware statutory trust is how the Franklin Ethereum Trust is set up. The ETF aims to give investors access to ETH in a regulated manner by allowing them to store it directly through a custodian.

    It states in the company’s S-1 filing that the proposed “Franklin Ethereum Trust” will hold ETH and “may, from time to time, stake a portion of the fund’s assets through one of the more trusted staking providers.”

    Staking is the act of locking up digital currency to maintain the operations of a blockchain network. They plan to stake some of the ETF’s ETH holdings to supplement its income through staking rewards.

    The Price Of ETH Rallies Amidst The Update

    Franklin Templeton’s spot Ethereum ETF application was made in light of the price of ETH experiencing an uptick. However, no solid proof exists that the latest development impacted the price of crypto assets.

    Related Reading: Ethereum ETFs Approval Date Set For May 23, Forecasts Suggest ETH Could Reach $4,000

    Ethereum was trading at $2,661 as of press time, indicating an increase of over 7% in the past 24 hours. Data from CoinMarketCap shows that its market capitalization is also on the upside, marking an increase of over 7%. 

    Meanwhile, its trading volume has increased significantly by over 172% in the past day. Due to the rise, ETH now ranks third in the entire crypto market by trading volume.

    ETH trading at $2,679 on the 1D chart | Source: ETHUSDT on Tradingview.com

    Featured image from iStock, chart from Tradingview.com

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.



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