No Good Ripple News Coming From SEC, After $2B Fine Demand

Posted on March 26, 2024March 26, 2024 by Skerdian Meta

Ripple has been in a legal battle with the SEC, making it miss the recent rally in the crypto market. While Bitcoin has made new record highs, XRP is trading in a range, waiting for the outcome of the court case, however, it remains supported and there’s a slight bullish tilt, as the lows keep getting higher. Continue reading “No Good Ripple News Coming From SEC, After $2B Fine Demand” →

Forex Signals Brief March 26: BOJ Core CPI and Durable Goods Orders

Posted on March 26, 2024March 26, 2024 by Skerdian Meta

Yesterday markets were pretty quiet with nothing on the economic calendar, while traders took some time to reevaluate the situation after the volatility we saw last week. The USD showed a slight downward trend at the start of the week but remained mostly sideways, indicating a lack of clear direction.

BOJ core CPI and US durable goods orders will highlight the day

Continue reading “Forex Signals Brief March 26: BOJ Core CPI and Durable Goods Orders” →

XRP Pinned Below $0.66, Risks Being Flipped By USDC

Posted on March 26, 2024 by Dalmas Ngetich

XRP remains at sixth in the market cap leaderboard. Though the uptrend remains and bulls are steady, rejecting attempts for lower lows, there must be a clear trend definition. For what it is, bulls have a chance. Also, the uptrend remains as long as prices are within the bull bar of March 11.

At press time, XRP is steady in the last 24 hours and up 7% in the previous week. Trading volume is also up 66%, while the market cap is up to over $35 billion, adding 3% in the past 24 hours.

Bulls are pushing for better prices, but the coin remains flat and within a tight range in the daily chart. Following the expansion on March 25, traders are looking for entries on dips. However, as XRP remains choppy, USDC might flip it to sixth.

The following XRP news developments might shape prices in the short term:

Ripple Chief Legal Officer Stuart Alderoty claims that the United SEC wants to fine the blockchain company $2 billion. However, Alderoty thinks the regulator should “faithfully apply the law” and not resort to intimidation.
Today, the revised SEC document will be released as part of the ongoing Ripple versus United States SEC case. On Friday, the regulator filed remedies-related briefs and all supporting documents.

XRP Price Analysis

[[XRP/USD]] traders are optimistic of what lies ahead.

However, for the uptrend to be confirmed, prices must pull firmly from the current range.

Important price levels to watch in the short term are $0.66 on the upper end and $0.59 on the lower end.

Since bulls appear to be in charge, traders might expect a close above the immediate liquidation level. The breakout, nonetheless, must be with rising volume.

In that case, XRP might rally to March 11 highs of around $0.74.

Ethereum Bulls Target $4,000, Millions of Shorts Liquidated

Posted on March 26, 2024 by Dalmas Ngetich

Ethereum is tracking higher, following Bitcoin and the broader crypto market. At press time, the coin is soaking in selling pressure and inching towards a key resistance level. Technically, the uptrend remains despite the dip of mid-March 2024.

ETH is up roughly 6% in the past trading day and 2% in the last trading week. Generally, buyers are in control from a top-down preview. However, sellers are in charge in the short term unless there is a breakout above the current consolidation. As ETH prices rise, its market cap is also up to over $437 billion, while trading volume is up 57% to roughly $20 billion.

The following Ethereum news events will likely influence prices in the short term:

When BTC and ETH prices rose on March 25, over $100 million of shorts were liquidated as coins shook off sellers. The wave of tokenization might benefit Ethereum in the medium to long term, helping drive the coin to fresh 2024 highs.
In the quest for decentralization, non-Geth clients now constitute over 34% of the market share. This is a major milestone for the network, making it more robust and reliable even if one client fails.

Ethereum Price Analysis

[[ETH/USD]] price is changing hands at over $3,500 when writing.

Technically, the candlestick arrangement favors buyers, looking at the formation in the daily chart.

Though buyers are steady, there must be a comprehensive push above $3,700 at the back of high trading volume for the bearish preview to be null.

So far, the middle BB acts as a dynamic resistance.

A close above $3,700 opens ETH to $4,090 in the medium term.

On the flip side, losses below $3,200 pour cold water to the bullish forecast.

Bitcoin Roars To Life: Will The LSE Drive BTC To $100k?

Posted on March 26, 2024 by Dalmas Ngetich

Bitcoin is rising, recently breaking above $70,000 before returning to spot rates. Even though there are hints of strength, buyers must confirm the upswing of March 25 for the uptrend to be confirmed. Presently, the path of least resistance remains northward from a top-down preview with bulls firmly in charge.

As it is, BTC is up roughly 7% in the past trading day and 4% in the previous trading week. The coin is changing hands above $69,700, and interest is swirling. Following the swing higher on March 25, trading volume is up 42% in the last day to over $41 billion. At the same time, the market cap is up 5% to over 41.3 billion.

The following Bitcoin news events might shape price action:

Looking at the data, last week’s retrace seemed to offer users an opportunity to accumulate. Over 52,000 BTC were bought by sharks and whales. This development comes ahead of the highly anticipated halving event. Analysts expect users to continue accumulating ahead of halving, set for April 19.
From April 8, the London Stock Exchange (LSE) will begin accepting applications for users planning to list Bitcoin Crypto Exchange-Traded Notes (ETNs). Trading of these products will start in Q2 2024.

Bitcoin Price Analysis

[[BTC/USD]] is bullish, looking at price action in the daily chart.

Even though the uptrend remains, skeptical traders need more confirmation.

So far, the coin is trading above the middle BB. This is bullish. As it is, traders can search for entries on dips above $69,000 or March 20 highs, targeting $73,800. Any breakout above all-time highs thrusts BTC into unchartered territory, even to $100,000.

Conversely, if BTC falls below $64,500, it will cancel this bullish preview.

Bitcoin Price Above $70K Again, Proving Wrong All Sceptics

Posted on March 25, 2024March 25, 2024 by Skerdian Meta

The Bitcoin price has just moved above $70,000 again after retreating lower in the last two weeks. We have seen several dips after BTC made a new record higher earlier this month, but every time buyers have come back pretty fast and have pushed BTC back up, which indicates that the demand for cryptocurrencies is high. Continue reading “Bitcoin Price Above $70K Again, Proving Wrong All Sceptics” →

XRP Flatlines below $0.70, Ripple-SEC Case in Focus

Posted on March 25, 2024 by Dalmas Ngetich

XRP prices are consolidating sideways, looking at the price action in the daily chart. In the short term, buyers have the upper hand, rejecting attempts by sellers to drive prices down. The bullish bar of March 11 still defines the current formation, considering that prices are still inside its range.

At press time, XRP is relatively stable. Reflecting the general mood across the market, the coin is moving inside a narrow range after the expansion over the week. It is changing hands at around $0.63, up 3% in the previous week. At the same time, trading volume is up 4% to around $1.2 billion, a contraction from recent average of around $2 billion. As prices cool off in the London session, its market cap is stable at around $34 billion.

Traders can watch out for the following XRP news:

Ripple is keen on building a vibrant DeFi environment on the XRPL. However, following a recent technical setback, users were asked not to deposit funds to affected automated market maker (AMM) pools. Meanwhile, those who supplied liquidity were asked to redeem until the issue is fixed.
The United States SEC will submit a redacted version of the remedy-related brief on March 26. Investors expect the regulator to argue that Ripple should be fined for selling unregistered securities to institutions in its ICO.

XRP Price Analysis

[[XRP/USD]] is moving sideways at the back of dropping trading volume, signaling decreasing interest.

Even so, fundamental events, especially how the Ripple-SEC case proceeds, will impact price action.

Traders are looking for movements above $0.66 or $0.59.

A break in either direction will shape the short to medium-price action.

Losses below the primary support at $0.59 validate the double top recorded when prices rallied on March 11. Conversely, expansion above $0.66 with rising trading volume might see XRP rally to $0.74 in a buy trend continuation formation.

Ethereum Approaches $3,500; BlackRock Says Institutional Demand Is Low

Posted on March 25, 2024 by Dalmas Ngetich

Ethereum is firm, shaking off sellers at press time. Even with the recovery, there are prints of weakness following recent losses. The coin is changing hands below $3,500 and is still far from 2024 highs. As prices consolidate, the path of least resistance remains northward, at least from a top-down preview.

As it is, ETH is bullish. The total market cap is up 2% to over $413 billion. Concurrently, trading volume is around $12 billion, up 1% but below the recent average of around $20 billion. This formation suggests that despite the price recovery, traders are still unsure.

In the short term, traders can keep track of the following Ethereum news events:

Analysts speculate that the United States Securities and Exchange Commission (SEC) is keen on classifying ETH as a security. Recent news shows that they have been issuing subpoenas to companies involved with the Ethereum Foundation, casting doubts on spot Ethereum ETF approval. If ETH is classified as a security, it means retail traders in the United States will be barred from freely trading the coin.
BlackRock has also revealed that only a few clients are inquiring about spot Ethereum ETFs. So far, a BlackRock executive said most clients are keen on stacking Bitcoin.

Ethereum Price Analysis

[[ETH/USD]] is bullish, as aforementioned.

From a top-down analysis, buyers have the upper hand. A critical reaction point is at $3,500, a round number. However, optimistic traders should closely monitor the zone between $3,500 and $3,600.

Technically, Ethereum is within a bear breakout formation. Though prices recovered over the weekend, it remains within the bearish bar of March 19.

Therefore, a close above the middle BB with rising volume is necessary for the uptrend to be valid.

Conversely, losses below $3,100 will sway price action to favor sellers.

Bitcoin Recovers as On-Chain Data Shows That No One Wants To Sell

Posted on March 25, 2024 by Dalmas Ngetich

Bitcoin is firm when writing, edging higher despite concerns of lower lows. At spot rates, the coin is up 3% in the past trading day. However, because of the losses in the past few trading sessions, it is down 2% in the previous trading week. Presently, the path of least resistance remains northwards. However, there must be a sharp close above the immediate resistance levels for trend continuation.

In the short term, sellers have the upper hand. Recovering Bitcoin prices has seen the market cap rise by over 3% on the previous trading day to over $2.5 trillion. So far, the average trading volume is up 29% to $29 billion.

As prices recover, the following Bitcoin news event might shape price action:

Experts predict that BlackRock will flip Grayscale in the number of coins controlled in their books in the next few trading sessions. GBTC controls 350,252 BTC as of March 25 versus 238,500 BTC held by Blackrock. Considering the level of inflow into BlackRock’s IBIT spot Bitcoin ETF, it will likely control more coins than GBTC in less than a month.
Though prices are relatively depressed and below $70,000, no holder wants to liquidate coins. On-chain data shows that the movement of coins ahead of halving continues to drop, signaling confidence in what lies ahead.

Bitcoin Price Analysis

[[BTC/USD]] is steady when writing, expanding after choppy price action last week.

Even though buyers are optimistic, BTC is still below the middle BB.

Accordingly, risk-on traders can wait for a close above $69,000, searching for entries. Any upswing might lift the coin toward $73,800 in a buy trend continuation formation.

Conversely, sellers might look to liquidate on highs if prices consolidate, targeting $60,000.

Losses below $61,200, confirming the drop of March 19, could heap more pressure on the coin.

XRP Price Finds Boost In Europe: Bulls Buying The Dip?

Posted on March 22, 2024 by Dalmas Ngetich

XRP prices remain choppy, looking at the formation in the daily chart. Ripple supporters are bullish. However, this optimism has yet to translate to sharp price gains, at least for now. The coin has resistance at $0.66. On the other hand, support is at $0.59. In the sessions ahead, traders can wait and see how prices react at these levels.

XRP is steady without any meaningful gains in the last day or week. Value is at around the current levels. To illustrate, the market cap remains flat at $34 billion, posting less than 1% in the last day. However, there appears to be interest spilling over after yesterday’s gains. For now, trading volume is up 8% to $2.7 billion.

The following XRP and Ripple news developments might influence price action in the days to come:

On March 20, according to court documents, Judge Analisa Torres granted an order on a joint motion by Ripple Labs and the SEC related to sealing issues for the upcoming remedies-related briefing. Torres approved the extension of the XRP lawsuit to allow enough time to resolve disputes between the parties. Lawyers will discuss redaction requirements, though crucial details will remain private.
While there is a back and forth in the United States, the European Corporate Governance Institute (ECGI) classifies XRP as a utility, similar to Bitcoin.

XRP Price Analysis

[[XRP/USD]] is flat and within a tight range in the past week of trading.

In the days ahead, traders can wait for a clean break out before committing.

A close above $0.66 will align with the breakout of March 11, providing the base for further gains.

If not, losses below this week’s lows and the $0.57 to $0.59 zone might see the coin slip to as low as $0.50. This formation will confirm the current double-top formation, evident in the daily chart.

Any XRP upswing above $0.74 will cancel this bearish outlook.