Daily Crypto Signals: Bitcoin Holds Above $118K, XRP Eyes 44% Rally as Regulatory Framework Advances
Bitcoin maintains strong support levels above $115,000 despite negative Coinbase Premium signals, while XRP positions for a potential 44%
Quick overview
- Bitcoin remains resilient above $115,000 despite negative Coinbase Premium signals indicating cooling institutional demand.
- XRP is positioned for a potential 44% surge to $4,804 if it maintains key support at $2.47, with bullish technical patterns emerging.
- JPMorgan has partnered with Coinbase to allow Chase customers to purchase cryptocurrencies directly, marking a significant step for traditional banks in the crypto space.
- Ethereum's trading volume in perpetual futures has surpassed Bitcoin for the first time, with bulls targeting a key resistance level at $4,500.
Bitcoin BTC/USD maintains strong support levels above $115,000 despite negative Coinbase Premium signals, while XRP XRP/USD positions for a potential 44% surge to $4,804 as long as key support holds. Major regulatory developments include new unified crypto ETF listing frameworks and JPMorgan’s partnership with Coinbase to offer crypto access to Chase customers.
Crypto Market Developments
There were big changes in the cryptocurrency sector this week, with top exchanges pushing for faster approval processes and big banks getting on board with digital assets. The Chicago Board Options Exchange (CBOE) and NYSE Arca asked the SEC to amend the rules so that there is a single set of rules for listing crypto funds. This might mean that each new fund doesn’t need to have its own clearance. This decision comes just one day after the SEC permitted in-kind formations and redemptions for crypto ETFs. This brings the asset class closer to standard fund structures.
Meanwhile, JPMorgan Chase announced a historic cooperation with Coinbase, allowing Chase credit card members to purchase cryptocurrencies directly through the site starting this fall. The partnership will also let JPMorgan customers exchange Chase Ultimate Rewards Points for USDC in 2026. This will be the first large rewards program that can be used to buy crypto. This news comes after Jamie Dimon, the CEO of JPMorgan, said that the company plans to get involved in both JPMorgan deposit coins and stablecoins because it is competing with fintech startups.
Bitcoin’s Next Key Resistance at $141,000?
Despite signals of institutional demand cooling, Bitcoin has shown that it can still hold its own. The Coinbase Premium Index turned negative for the first time since May 29, breaking a historic 62-day positive streak. This change comes after a 94-day period of steady positive premium gap, which was the longest period of strong institutional demand for Bitcoin on record. Even though the flip suggests that US purchasers are losing interest, Bitcoin’s price is still holding firm above $115,000. This means that bigger passive buyers are stepping in to take up the selling pressure from market makers.
Technical analysis shows that Bitcoin is very close to a key turning point. The Bollinger Bands on the daily chart are getting tighter, which means that a big breakout or breakdown is about to happen. The futures financing rate stays at 0.01%, which means that leverage is balanced and a big change is about to happen. If Bitcoin breaks through the $141,000 mark, which is the +2 standard deviation zone around the Short-Term Holder cost basis, analysts say that this will be the next significant barrier level. This price point might become quite important since STH gains would skyrocket, which could lead to a lot of people selling their shares to take their winnings.
Ethereum Price Prediction: $4,500 Next Key Target?
Ethereum has become the most important player in derivatives markets. For the first time since 2022, the volume of perpetual futures contracts has surpassed that of Bitcoin. This is the biggest change in trading attention to ETH ever recorded. Since December 2024, the cryptocurrency has been trading just below the important $4,000 resistance level. Bulls are aiming for the +1σ active realized price range near $4,500. In the past, this level acted as a ceiling during the March 2024 peak and the 2020–21 cycle. When prices broke above this line, they usually moved up quickly.
But technical indicators give varied indications about Ethereum’s short-term future. The story is mostly about bullish momentum, but bearish RSI divergences on both the four-hour and daily timeframes show that buyers may be running out of steam. ETH’s liquidation maps show a lot of short liquidations stacked right above $4,000, with about $930 million in positions that might be liquidated if the price moves cleanly above this level. If negative pressure builds up, immediate support is just around $3,700. There is also a chance that the price might drop even further to the long-term fair value gap between $3,200 and $3,300.
XRP Gears Up for 44% Breakout
XRP (XRP) is ready for a big breakout. Technical analysis suggests that it might rise 44% to $4,804 if it stays above the important $2.47 mark. This support zone, which used to be a barrier, is now the base for the next possible upward move. The technical setup shows a steady pattern of higher lows, which makes a bigger breakout more likely. Extended objectives might go as high as $7,138, which is a 128.7% gain from where we are now.
XRP is currently trading around $3.12. It just hit a resistance level of $3.66 and fell around 11% to test the support zone at $3.00. The daily chart shows that the cryptocurrency is developing a huge ascending triangle formation. Analysts say that a confirmed breakout and retest over $3.30 might start the next leg up. Market dynamics are sending contradictory signals. Active XRP wallets have dropped by 44%, yet whales have added over 280 million tokens, which suggests that bigger investors may be buying even as normal investors are hesitant.
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