Daily Crypto Signals: Bitcoin Nears $100K, XRP Maintains $2 Support Amid Ethereum’s Pectra Upgrade
Bitcoin continues its upward trajectory toward the psychological $100,000 mark while XRP holds critical $2 support level, with analysts
Quick overview
- Bitcoin is approaching the $100,000 mark, supported by institutional inflows and whale accumulation.
- XRP is holding above the critical $2 support level, with analysts predicting a potential rise to $4 amid positive market sentiment.
- Ethereum's recent Pectra upgrade has improved scalability, but its market activity remains lower compared to competitors.
- BNB Chain is experiencing significant growth, with forecasts suggesting its price could reach $2,775 by the end of 2028.
Bitcoin continues its upward trajectory toward the psychological $100,000 mark while XRP holds critical $2 support level, with analysts eyeing potential rise to $4 amid improving macroeconomic conditions and whale accumulation.
Crypto Market Developments
Driven by institutional inflows and whale accumulation, the bitcoin market is displaying indications of strength as Bitcoin approaches the important $100,000 threshold. Working with either Arbitrum or Solana Foundation, Robinhood purportedly is building a blockchain network to provide tokenized US equities trading in Europe. Ethereum effectively applied its Pectra update on May 7, adding smart account capabilities and increasing scalability.
With two legislation and a subcommittee investigation meant to restrict President Donald Trump’s capacity to profit from his crypto activities, US Democrat legislators have started a multi-pronged attack on his endeavors in the regulatory terrain. While the Permanent Subcommittee on Investigations is preliminary investigating the Official Trump (Trump) token and Trump-backed platform World Liberty Financial (WLFI), the Modern Emoluments and Malfeasance Enforcement Act (MEME Act) seeks to prevent federal officials from profiting from memecoins.
Bitcoin Ready to Test $100,000
With both long-term and short-term holders raising their allocations, Bitcoin’s BTC/USD realized capitalization—which reflects great investor conviction—has hit a record $890 billion. The surge highlights the overall investment kept by Bitcoin owners and maybe indicates expectation for a price breakthrough since it represents the third straight week of record-breaking increase for this statistic.
Since late March 2025, big Bitcoin holders have been aggressively collecting; wallets containing between 10 and 10,000 BTC accumulate 81,338 BTC over six weeks. From 1,945 on March 1 to 2,006 on May 7, Glassnode data showed a large increase in Bitcoin whale addresses holding over 1,000 BTC—the most notable 30-day growth in 2025.
Bitcoin needs to be above the resilience-showing support zone between $93,000 and $95,000 if it is to maintain its pace toward $100,000. Should BTC surpass the resistance zone of $97,000 to $99,000, the dynamics of the market can change to favor bulls, therefore stressing short positions and increasing bullish liquidity. By the end of Q2, some analysts project Bitcoin might be valued around $110,000.
Ethereum Pectra Upgrade Goes Live
Although Ethereum ETH/USD effectively carried out its Pectra upgrade on May 7, measurements of ETH price and derivatives revealed a rather subdued reaction to the notable network improvement. At 3%, the ETH futures premium stayed below the 5% neutral level, suggesting that leveraged bulls lacked appetite even with the effective application of the upgrade.
Through EIPs 7702, 7251, and 7691 the Pectra upgrade brought three primary enhancements. EIP-7702 lets outside owned accounts operate as smart contracts covering gas costs and payments in coins other than Ether. EIP-7251 simplifies procedures for big stakers by raising the validator staking cap from 32 ETH to 2,048 ETH. EIP-7691 raises data blobs per block, therefore improving layer-2 scalability and maybe lowering transaction costs greatly.
Ethereum still lags rivals in terms of activity even with these gains. With 10.3 million monthly active users—far less than Solana’s 82.2 million and Binance Chain’s 25.9 million— Ethereum’s dominant layer-2 solution, Base, now Investors should be reassured that network developments will result in real benefits, such better staking returns or greater incentives to push more general DApp usage, thereby enabling ETH to increase 22% from its present $1,810 level.
XRP Needs to Hold Above $1.80 for Uptrend
XRP XRP/USD showed strength on May 7, increasing 2% over the past 24 hours after word of prospective US-China trade negotiations raised investor mood. With analysts stressing important support levels needed for a sustainable rebound to new all-time highs, the token still stays over $2.00.
Whale accumulation seems to be bolstering XRP’s price; Santiment’s Supply Distribution indicator shows a consistent increase in the supply kept by entities holding 1 million to 10 million tokens. Since January 1, these addresses currently own 9.44% of the total XRP supply, a 1.2% rise implying that big holders accumulated more tokens rather than sold during the recent collapse below $1.60.
Technically, on May 6 XRP price rallied off the 200-day SMA at $2.08, climbing as much as 4.5% to an intraday high of $2.17. Traders think XRP can go back to its seven-year highs over $3.40 and maybe reach $4, although this relies on keeping support above significant levels. With some arguing that “new all-time highs look imminent” as long as the token holds above the multi-month low of $1.60 reached on April 7, analysts advise XRP must hold above $1.83-$2.00 to maintain its upward trend.
BNB Price Prediction Past $2,700
Reversing a period of stagnation in 2023, Binance-affiliated BNB Chain BNB/USD has benefited from multi-billion dollar inflows into DeFi, US exchange-traded funds, and increasing trading activity at Binance. while a result, BNB has become among the most robust cryptocurrencies on the market, achieving all-time highs in the first quarter of 2025 even while the general direction of the crypto market was down.
Standard Chartered asset manager forecasts BNB’s price to keep climbing, maybe reaching $2,775 by the end of 2028. With a market value of around $85 billion and trading at about $600 per coin, BNB has drawn notable institutional interest including a May 5 proposal by VanEck on the first BNB ETF in the United States.
Fourth among layer-1 blockchain networks, BNB Chain’s Total Value Locked (TVL) has climbed from almost $3.5 billion to more than $6 billion since the beginning of 2024. Still, it hasn’t yet rebounded to its all-time peak of almost $20 billion in 2022. Standard Chartered claims that whilst constraining upside potential, BNB Chain’s use cases remain concentrated in distributed exchanges, lending protocols, and liquid staking, thereby offering some degree of stability.
Top Altcoins to Watch Today
Several altcoins are showing promising technical setups, particularly those holding their respective support levels, which could open the gates for short-term rallies:
- Solana SOL/USD: Finding support at the moving averages, indicating positive sentiment where dips are being purchased. If bulls can push the price above the $153 resistance, SOL could climb to $180 and potentially reach $200.
- Sui (SUI): Rebounded off the 20-day EMA ($3.14), suggesting buyers are attracted to lower levels. If it breaks above the minor resistance at $3.50, SUI could ascend to $3.90 and potentially reach $5 if momentum continues.
- Dogecoin DOGE/USD: Currently clinging to moving averages, signaling a balance between supply and demand. If buyers can drive the price above $0.21, DOGE could potentially rally to $0.25 and subsequently to $0.28.
- Cardano ADA/USD: Witnessing tough competition between buyers and sellers near moving averages. If it moves up from current levels, it could face selling at $0.75, but a break above this level might propel ADA to $0.83.
- Chainlink LINK/USD: Finding support at the 50-day SMA ($13.66), though the lack of a strong rebound suggests bears are maintaining pressure. If it breaks above the 20-day EMA ($13.99), LINK could rally toward the resistance line of its descending channel pattern.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals