Are XRP Bulls Preparing To Buy En Masse? Price Finds Support at $0.46

XRP, more like Bitcoin, fell yesterday but is pretty much stable at press time. There are signs of weakness because bulls are yet to bounce back, allowing sellers to go all in. Still, with prices not drifting too much away from $0.50 and the June 14 bar closing with a long lower wick, XRP might find a reprieve. However, things could take a turn for the worse should there be a sharp drop below the all-important support at $0.46.

At press time, the path of least resistance is southwards. Encouragingly for XRP, prices are mostly stable in the past 24 hours. Like most coins, it is still struggling to shed off bears over the past week of trading, dropping by 5%. Interestingly, despite the lower liquidity today, the average trading volume is elevated, standing at over $1 billion.

XRP Daily Chart for June 15

The following XRP and Ripple news should be closely monitored:

  • Yesterday, the United States SEC filed its response to the Ripple Notice of Supplemental Authority. The regulator wants the blockchain company to pay a $2 billion penalty. At the same time, the commission wants Ripple barred from selling XRP.
  • Despite the weakness brought by the lawsuit, Ripple expects the case to be settled within the next few months, probably by this summer. This will be a massive relief for XRP and prices, considering the impact the case has had over the years.

XRP Price Analysis

[[XRP/USD]] is stable over the last day but is bearish over the last week.

The zone between $0.46 and $0.50 is a crucial support area that bulls must hold if they are to have a chance.

Technically, any close below $0.46, the lower limit of this support area, could see XRP plunge towards $0.40, confirming the April 13 and June 7 bear bars.

Conversely, a welcomed uptick above $0.55 could see XRP fly to $0.74 or higher.

Conservative traders should stay on the sidelines until a clear trend is defined above (or below) the current consolidation.

Ethereum Turning Around On Spot ETF News: Time to Load Up After Dip to $3,300?

Ethereum appears to be turning the corner. Despite bulls being unable to breach $3,700, the candlestick performance in the daily chart shows that momentum is shifting. Ethereum is in green when writing, expanding sharply during the late Asian session. At the same time, the candlestick arrangement seems to favor buyers. For instance, the June 14 bar has a long lower wick, pointing to demand in the late hours of the NY session.

Thus far, Ethereum is stable in the last trading day. Though losses of the previous week of trading remain, with ETH down 5%, bulls could be preparing to push higher. The expansion of prices, nonetheless, didn’t spark the much needed demand, looking at the average trading volume. Thus far, this stands at over $16 billion.

Ethereum Daily Chart For June 15

The following Ethereum news developments are worth watching:

  • At the moment, all attention is on spot Ethereum ETFs. Recently, the United States SEC’s chair, Gary Gensler, said the product will likely launch during the summer. However, looking at the series of events yesterday, analysts said the product could go live even in early July.
  • Despite Ethereum being the most active layer-1 platform, hosting the most protocols, it faces multiple problems. At the top of the list are developer centralization and emerging fragmentation concerns due to the proliferation of layer-2 solutions like Base.

Ethereum Price Analysis

[[ETH/USD]] is firm when writing and stable on the last trading day.

Even though the downtrend is valid, in that Ethereum bulls are yet to breach $3,700, there are hints of strength.

Due to favorable fundamentals, how prices pan out over the weekend will shape the short-term trajectory.

If prices hold above $3,300 over the weekend, and there is a conclusive rewinding of June 11 losses, ETH bulls have a chance.

A close above $3,700 would mark $3,300 as a key support, setting another welcomed leg up towards $4,100 in motion.

Bitcoin Retests $66,000: Will BTC Fall Even After Donald Trump’s Assurance?

Bitcoin bears continue to wreak havoc, looking at price action in the daily chart. Even though bulls were optimistic, looking forward to prices bouncing from the $66,000 level, prices dumped right through the May 20 lows. The sell-off was a mark of weakness, suggesting that the trend is now shifting and favoring bears, at least in the short term. Accordingly, traders should adjust their outlook, perhaps looking for liquidation opportunities on every attempt higher.

Over the last 24 hours, Bitcoin is down 2% while pushing losses to over 5% in the last week of trading. At this pace, BTC may be slipping to as low as $60,000 in the sessions ahead, especially if trading volume swells in tandem. When writing, the average trading volume is at $26 billion. The sell-off could see more bears position themselves for even more losses.

Bitcoin daily chart for June 15

The following Bitcoin news developments should be closely monitored:

  • Donald Trump, the United States presidential candidate, reiterated his support for cryptocurrencies. Yesterday, he said that if elected, the goal would be to end Biden’s war on the industry. Additionally, Trump said he will strive to make America a crypto leader.
  • In El Salvador, President Nayib Bukele is establishing a Bitcoin bank. According to public data, the country is one of the largest holders of BTC.

Bitcoin Price Analysis

[[BTC/USD]] is sliding when writing, looking at the last day and week performance.

So far, bears are retesting the $66,000 level after temporarily dropping this line on June 14.

Considering how price action is shaping up in the daily chart, traders can look for opportunities only if there is a sharp close below $66,000. If the confirmation of the June 14 bar is with rising volume, Bitcoin could slump even lower, dropping to $60,000.

However, if BTC find strength, bouncing from the spot level, and ideally closing above $70,000 this weekend, there could be more room for growth.

As things stand, conservative traders can stay on the sidelines until there is a trend definition.

Bitcoin Sliding, Bears Target $60,000 Despite Tether’s Huge Endorsement

Bitcoin is printing discouraging lower lows when writing, inching closer to the all-important support line at $66,000. That prices are falling has nothing to do with charts but more with the fundamentals. After days of anticipation, the United States Federal Reserve said they would slash rates only once this year. This wasn’t what the market was expecting, meaning the regime is still hawkish though the tone is shifting to be a more accommodative—at least going forward.

The contraction in Bitcoin prices means the market was mostly red. At spot rates, BTC was stable on the last day, extending losses to roughly 6% in the previous week of trading. Unless there is a recovery, it is likely that bears will press on, meaning the coin will drift even lower from all-time highs. Accompanying the sell-off was a decent average trading volume of over $26 billion.

Bitcoin daily chart for June 14

The following Bitcoin news events are worth monitoring today:

  • Tether, the issuer of the world’s largest stablecoin, USDT, thinks Bitcoin is the only decentralized cryptocurrency. Because of this feature, Tether CEO Paolo Ardoino believes it is unstoppable and cannot be changed.
  • Even though the demand for spot Bitcoin ETFs in Hong Kong isn’t as high as those in the United States, it has so far secured over $1.9 billion worth of BTC. The number could rise if investors from mainland China are permitted to get exposure.

Bitcoin Price Analysis

[[BTC/USD]] is slipping at press time.

Down roughly 10% from all-time highs. Sellers can consider shorts on every attempt higher, ideally below the $70,000 and $72,000 resistance zone.

On the other hand, conservative traders can look to enter shorts.

It is especially if there is a strong breakout below $66,000, ideally at the back of rising volume.

If that’s the case, Bitcoin would likely fall to $60,000, even retesting May 2024 lows of $56,500.

Ethereum Bears Target $3,300: Are Institutions Not Interested In ETH?

Ethereum is swinging back to red, looking at the performance on the last day. After the excitement of June 12, sellers cemented their position yesterday, pushing prices even lower. Ethereum is in bear territory at press time, retracing from March 2024 highs. So far, bulls have found a ceiling at $3,700. Therefore, until there is a convincing and decisive close above this level, ETH will likely continue falling.

The path of least resistance is emerging to be southwards. Reflecting this state of affairs is the contraction of prices. Thus far, Ethereum is down 8% in the previous trading week. Of note the dump is with decent participation. As coin trackers show, the average trading volume on the last day stands at over $14 billion.

Ethereum Daily Chart for June 14

Traders should closely monitor the following Ethereum news events:

  • On-chain data shows that spot Ethereum ETFs approved in Hong Kong are struggling for traction. Weeks after going live, these products have only amassed $26 million worth of ETH. This is dismal, considering issuers are permitted to stake ETH from clients, unlike in the United States.
  • Ahead of the likely approval of spot Ethereum ETFs in the United States, there is a clear surge in staking interest. According to data, over $1.8 billion of ETH are now locked, staked, and used to secure the multi-billion network.

Ethereum Price Analysis

[[ETH/USD]] bulls are struggling to stay afloat, looking at the formation in the daily chart.

Ethereum is currently trading below $3,700.

At the same time, even after the relief on June 12, prices crashed yesterday. So far, bear bars are printed, aligning with the lower BB.

This formation points to weakness.

Accordingly, aggressive traders may choose to short on every attempt higher but within the bear engulfing bar of June 11.

The immediate target would be $3,300.

This outlook will change if Ethereum spikes above $3,700, pumped by high trading volume.

XRP Is Down, Ripple Bulls Unresponsive Despite Solid Partnerships

XRP is surprisingly stable at press time amid the bloodbath in Bitcoin and Ethereum. The coin is trading inside a narrow range but below $0.50. At spot rates, bulls would wish for better. However, from the look of things, XRP bears are clearly in control since fundamentals don’t support buyers, at least for now. Technically, the zone between $0.46 and $0.52 caps price action. Any breakout in either direction would help shape the short-term trajectory.

Thus far, XRP is steady, looking at the performance in the daily chart. The coin is down 2% in the last day but still deep in red over the past week, sliding 8%. Unless there is a sharp uptick in trading volume and price above $0.55 or $0.46, conservative traders should still adopt a wait-and-see approach. With prices moving horizontally, the average trading volume on the last day is at over $1 billion.

XRP Daily Chart for June 14

The following XRP and Ripple news may shape price action:

  • Despite major announcements this week, analysts are perturbed by the lack of movement. This week, Ripple announced their stablecoin, RLUSD, which is set for launch in the coming months. At the same time, they plan to launch an XRPL EVM sidechain.
  • In a major step towards making the XRP Ledger a tokenization platform, Ripple extended their collaboration with Archax. Through this partnership, financial institutions can tokenize assets on the decentralized platform.

XRP Price Analysis

[[XRP/USD]] is stable but down when writing.

Even though there are hints of strength, sellers have the upper hand, at least in the short term.

A key reaction level to watch is $0.55.

Provided prices are inside the June 7 and 11 bars, every attempt higher offer entries for aggressive sellers target $0.46.

If there are more losses below $0.46, XRP will likely drop to $0.40 or April 2024 lows in the sessions ahead.

Bitcoin Fails To Break $70,000 Amid Falling Inflation, Dovish Fed

Bitcoin impressively swung back to green on June 12, reversing losses of Tuesday. While price action remains choppy and buyers are strengthening, whether this will continue today remains to be seen. Since BTC is volatile and back into the upper limit of the range with caps at $70,000 and $72,000, conservative traders can adopt a wait-and-see approach until there is a trend definition. In any case, any dump below $66,000 invalidates the bullish preview.

At press time, Bitcoin is stable. The coin is now down just 3% week-to-date. Encouragingly, the recovery of June 12 was with rising volume, suggesting that buyers backed the leg up. In the past 24 hours, participation stood at over $36 billion but could rise today as sentiment improves.

Bitcoin daily chart for June 13

The following Bitcoin news events are worth monitoring:

  • In another endorsement of crypto, Donald Trump said all Bitcoin mining activities should be domiciled in the United States. Trump added that, if possible, all the remaining BTC should be mined by mining firms based in the country, saying the coin could be the last line of defense against CBDCs.
  • Falling inflation and the decision by the United States Federal Reserve to hold interest rates steady didn’t massively impact prices. However, if yesterday’s momentum continues, Bitcoin could break higher, even conquering $72,000, which would be a major relief for holders and traders.

Bitcoin Price Analysis

[[BTC/USD]] is steady but down after losses in the Asian session.

Overall, the failure of June 11 bears to follow through, coupled with the prevailing positive fundamentals, place Bitcoin bulls in the upper hand.

Though aggressive traders could begin loading the dip, conservative, risk-on traders can wait for a clean break above the local resistance.

Any surge lifting BTC above $72,000 will be the anchor, boosting the coin to over $74,000.

Ethereum Trapped Below $3,700 As NFT Trading Decimated: Will It Fuel A Selloff?

Ethereum is firm, though it is clear that sellers have their way. The recovery of June 12 isn’t with the requisite participation since the average trading volume was lower. At the same time, it has a long upper wick, suggesting liquidation at the close of the NY session. Unless there is a firm close above $3,700, aggressive sellers might choose to offload the coin on every high, targeting local support levels.

Amid this volatility, Ethereum bulls must flow back, aligning with Q1 2024 bulls. As things stand, there are cracks. On the last day, ETH is stable. However, in the previous week of trading, the coin is down 9%. A sharp uptick in participation is needed for yesterday’s gains to be sustained, pushing the average trading volume to shoot higher, above the current average of $17 billion.

Ethereum daily chart for June 13

If there will be triggers to trader engagement, then investors should be closely monitoring the following Ethereum news events:

  • Even as the United States SEC plans to sue Ethereum and ConsenSys striking back, MetaMask has big plans for the multi-billion ETH staking field. Its developer, ConsenSys, said they are launching Pooled Staking, allowing small token holders to pool their coins and earn network rewards.
  • As attention shifts to spot ETFs and meme coins, the number of NFT traders on Ethereum continues to contract. According to data, there are less than 4,000 active participants, the lowest level since June 2021.

Ethereum Price Analysis

[[ETH/USD]] is firm, per the formation in the daily chart.

Even so, the bear bar of June 11 is engulfing and aligning with the lower BB.

Furthermore, the failure of June 12 bars to completely reverse losses means sellers have the upper hand from an effort-versus-result perspective.

As things stand, aggressive traders can look too short on any attempt higher but below the all-important $3,700.

The immediate target would be $3,500 and $3,300.

Any upswing above $3,700 would invalidate this preview.

XRP Bearish: Former Ripple Executive Explains Why Prices Is Still Below $0.50

XRP recovered yesterday, mirroring the general performance of top altcoins like Ethereum and Solana. Even so, the path of least resistance is southwards, and there won’t be any reprieve for bulls unless there is a breakout above immediate local resistance levels. Key reaction lines to watch out are $0.52 and $0.55. However, if the primary trend is sustained, XRP could tank, even retesting $0.40.

As bears maintain their presence and cracks widen on XRP, the coin is mostly stable in the past day, adding roughly 2%. At the same time, it is down 7% in the previous week. Since the uptick of June 12 wasn’t vigorous, the average trading volume is still at the $1.2 billion mark.

XRP daily chart for June 13

The following XRP and Ripple news developments are worth tracking:

  • A former Ripple executive, Sean McBride, believes that the ongoing Ripple versus the United States SEC court case is among the multiple key factors that suppress prices. Taking to X, McBride said once Judge Analisa Torres makes a ruling in the coming weeks or months, Ripple will be unbridled, even rallying.
  • Brad Garlinghouse, during the XRP Ledger Community Summit in Amsterdam, unveiled their stablecoin, RLUSD. The stablecoin, whose launch date is unspecified, will prime the broader XRPL ecosystem.

XRP Price Analysis

[[XRP/USD]] price action is generally muted, trending a few cents from the psychological $0.50 mark.

For now, the path of least resistance is southwards.

Accordingly, aggressive, risk-off traders can look to short on every attempt higher, targeting $0.46 and $0.40.

This preview is because prices are still trending inside the bearish engulfing bar of June 7.

Because bulls have been unable to turn around the trend. Bears have the upper hand from an effort versus result perspective; aligning with sellers of mid-April.

When XRP breaks $0.55 aggressively, this preview will be invalidated.

Bitcoin Risks Tumbling to $56,500 amid Miner Liquidation and Subsiding Spot ETF Demand

Bitcoin remains under intense selling pressure. The short-term trend has been set unless there is a breakout above the June 10 bar and the middle BB. Conservative bulls should revert to neutral as sellers look to double down, extending yesterday’s losses. Thus far, the emerging short-term trend is clear, but any sharp close pushing Bitcoin below $66,000 could signal to the market that the uptrend is over and buyers are exhausted.

Looking at the candlestick arrangement in the daily chart, it is evident that sellers are beginning to position themselves in readiness for a new wave of lower lows. Bitcoin is stable on the last day alone and down 5% in the previous week. At the same time, the average trading volume is up to over $29 billion. This recovery is notable, signaling that sellers are in position.

Bitcoin daily chart for June 12

The following Bitcoin news events are worth tracking:

  • There is a Bitcoin miner capitulation, one analyst notes. Post Halving, more “weak miners” have been winding down operations. As they do so, they are selling, fanning the current sell-off.
  • As Bitcoin falls, inflows into spot ETFs is drying up. According to trackers, issuers redeemed roughly $65 million of BTC on the last day. As expected, most of these outflows are from GBTC.

Bitcoin Price Analysis

The path of least resistance, as the [[BTC/USD]] chart shows, is southwards.

The Bitcoin daily chart shows a wall at $70,000 and, most importantly, $72,000.

Aggressive traders can look to align with the bear breakout of June 11 by shorting on highs and targeting $66,000.

Conservative traders, on the other hand, can wait for a clean break below $66,000 and May 20 lows.

In the event, Bitcoin will likely collapse faster, retesting $60,000 and even May 2024 lows of around $56,500.

Any surge above $72,000 will cancel this preview, allowing buyers to push the coin to fresh all-time highs.