Daily Crypto Signals: Bitcoin at $108K, Ethereum Targets $15K, and XRP Breaks Resistance
In a volatile day for cryptocurrencies, Bitcoin briefly touched a new all-time high before pulling back; Ethereum continued its strong rally, and Ripple launched its RLUSD stablecoin, driving significant moves across various digital assets.
Crypto Market Developments
Significant developments defined Tuesday’s crypto landscape, including a meeting between the CEO of Crypto.com and President-elect Donald Trump, a proposal for a Bitcoin strategic reserve made by a European lawmaker, and a Wells notice sent to CyberKongz by the Securities Commission. These changes draw attention to the continuous political and legal debates over cryptocurrency.
Bitcoin Touches $108,000 Briefly
Extreme volatility in Bitcoin BTC/USD resulted in a new all-time high before a quick retrace. Before declining 2.4%, the bitcoin hit around $108,000, wiping out $1.3 billion in futures contracts. Rekt Capital and other analysts warn of a possible correction, pointing historical examples of pullbacks during price discovery stages. Though the market is somewhat erratic, traders like Josh Rager remain hopeful about the future of cryptocurrencies in the next three to six months.
Can Ethereum Test $15,000?
Rising to a year-to– date high of $4,108 and gaining 28% over the past 30 days, Ethereum ETH/USD still shows amazing resilience. Important elements driving its positive momentum include:
- Decreasing supply on exchanges
- Increased whale wallet accumulations
- Continuous institutional inflows into Ether ETFs
Though more conservative predictions suggest a possible top around $6,000-$7,000, analysts are setting aggressive price forecasts; some anticipate Ethereum might reach between $15,000 and $25,000 in the current cycle.
XRP Rises Over 4% as RLUSD Launches
Today XRP XRP/USD had a rise almost 4.5%, returning it to the $2.50 mark. Ripple’s release of its RLUSD stablecoin—which started trading internationally on exchanges—was the main impetus. With some analysts speculating on a possible surge to as high as $6.40, a 154% rise from current pricing, the cryptocurrency has validated a bullish chart pattern.
Solana’s Bull Flag Pattern Could See a Test of $320
Solana SOL/USD offers promise for a major climb despite current bearish patterns. Analysts point to a repeated bull flag pattern like to January 2024 that would propel the price toward $320 in the near term and maybe $440 in the long run. Though some traders want for a “absolute monster run,” others remain hopeful about SOL’s future.
Cardano Flashing Bearish Signals
Cardano ADA/USD is trading just around $1.07 and down 2% in 24 hours, under negative demand. Although the short-term picture seems difficult, with the price running below $1, founder Charles Hoskinson has offered an encouraging road plan for 2025 focusing on institutional involvement and decentralized governance. Some analysts still have high long-term forecasts; ADA might rise to $4 in 2025.
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