Category: Crypto market

Forex Signals Sept 26: US PCE Inflation to Test Fed’s Patience on Policy Outlook

Posted on by Skerdian Meta

Today’s US PCE report, the Federal Reserve’s preferred inflation gauge, will provide critical insight into whether price pressures are easing or persisting into year-end. Continue reading “Forex Signals Sept 26: US PCE Inflation to Test Fed’s Patience on Policy Outlook” →

Solana Clings to $200 Life Raft as Crypto Carnage Swamps Market

Posted on by Olumide Adesina

Solana is struggling to hold the $200 price market amid a crypto bloodbath. A  deeper correction level at $176 and $156 could be in play if $195 is not maintained in the mid term.

Furthermore, if $SOL swiftly recovers $220, resistance levels at $246 and $260 will test bullish momentum. Latest price action highlights that if buyers keep control, the market structure is conducive to a year-end rally.

The SEC has until October 10 to decide on a proposed Solana spot ETF.

With approval, conventional investors would be able to purchase $SOL without actually owning the asset.

Growing interest in crypto ETFs may lead to SOL institutional participation.

Market players watch regulatory changes that could have an impact on both short and long-term price movements. SOL was trading at about $196, down 5% in the last day and 20% for the week. Solana has 540 million tokens in circulation.

Wedge upper bound resistance: $222–$245; psychological level follows at $250. Indicators: Short-term bullish momentum is confirmed by the EMA 9 > EMA 15 crossover. While the RSI is neutral (about 55), the MACD displays a bullish crossover in prediction markets.

The rising 200-day SMA suggests a favorable long-term trend. Prospects: Before pushing to $300 (previous highs), a retest of $200 might present a buying opportunity.

Ripple’s XRP Big Break? Trump’s Gold Reserve Eyes Tokenization Revolution

Posted on by Olumide Adesina

Trump’s Gold Reserve is considering XRP as a platform for tokenizing gold. Xaif demonstrated how physical gold could be added to the blockchain through the XRP Ledger by fusing the stability of gold with blockchain speed and settlement efficiency.

Instead of just using this as an example of adoption, he portrayed it as the beginning of a new era. The US is actively considering tokenized real-world assets as a potential means of lowering its $35 trillion in debt denominated in US dollars. He suggested that tokenization might make converting gold back into cash as easy as a central bank issuing digital currency.

Cryptocurrency analyst and investor Xaif expressed his opinion that XRP might be at the center of a major financial event. Trump’s Gold Reserve is considering XRP as a platform for tokenizing gold, he wrote in his post. Xaif underlined that physical gold could be added to the blockchain via the XRP Ledger.

The XRP Ledger is directly linked to this broader discussion about tokenized gold by Xaif’s mention of XRP in relation to Trump’s Gold Reserve. Xaif claimed the XRPL is a good option for hosting tokenized gold amid its scalability and transaction speed. By integrating blockchain technology with the tangible value of gold, he proposed that the XRPL could facilitate global liquidity and financial interoperability at a new level.

Xaif’s statements align with a growing body of research on tokenization, showing it has great potential. If such initiatives are pursued, the incorporation of tokenized gold on the XRP Ledger could become one of the most significant applications of blockchain technology in sovereign and institutional finance to date.

Bitcoin’s $109K Crash Signals Short-Term Market Uncertainty

Posted on by Olumide Adesina

Bitcoin was trading at $109,506 on Friday, down almost 2.2 percent over the previous day. According to analysts, this indicated a brief period of caution in the cryptocurrency market, but if momentum increases, Bitcoin may retest all-time highs by the end of the year.

BTC is now consolidating around $110,000, indicating short-term market caution. Strong institutional interest and the reduced supply from the 2024 halving support its bullish long-term outlook despite volatility. Support is located around $108,000, while key resistance is close to $120,000.

Whales are holding firm, according to on-chain data, which reduces sell pressure. Although opinions are divided in the short term, the general trend supports steady growth. By the end of the year, Bitcoin might retest all-time highs if momentum continues. As major catalysts in this cycle, traders react to ETF flows, rate reductions, and geopolitical risks.

The short-term bias of Bitcoin’s chart is neutral to bearish; it has rejected the $117.5 resistance and is now stuck in the $110K to $1116K range.

RSI: 54 (neutral; neither overbought nor oversold). $200-Day SMA: $103-point-7 (critical support); a retest may cause additional unwinding but stabilize the upward trend. Lower highs and lows indicate a bearish market structure; a weekly close above $116K is required to turn bullish. Daily rejection at $113.6K strengthens the risk of a decline.

Aster DEX Chaos: XPL Trading Error Sparks Price Shockwave

Posted on by Olumide Adesina

The news of a major XPL trading error on Aster DEX has the cryptocurrency community in a frenzy.

The digital asset XPL was trading at an astonishing $2 on the decentralized perpetual futures exchange when traders woke up, which was an unusual sight.

Its value, which hovers around $1.30 on major platforms like Binance, contrasts sharply with this dramatic price spike. Naturally, this stark disparity has triggered questions and concerns among the crypto community. A system error is the primary cause of this unusual price movement on Aster DEX.

Although the exact technical details of the glitch are still being investigated, a decentralized exchange’s infrastructure typically involves several factors, including code errors that support the exchange’s functionality and oracle malfunctions—issues related to external data feeds that provide the DEX with price information, resulting in inaccurate valuations.

Liquidity pool imbalances—extreme or sudden changes in liquidity that can be exploited or misjudged by the system—are also common causes. Developers and users need to understand these potential issues. For those involved in perpetual futures trading, a system error on a DEX can have immediate and significant consequences.

The XPL trading error on Aster DEX, which caused a notable price divergence from major exchanges, highlighted inherent challenges and risks in the rapidly evolving DeFi landscape. While such bugs can create brief arbitrage opportunities, they also pose serious risks for unwary traders.

Users should approach trading with increased caution and a solid understanding of market dynamics. Both platforms should work to strengthen their systems in response to this incident.

ETH’s $4K Tumble: Ethereum Sinks to Seven-Week Low

Posted on by Olumide Adesina

Ether dropped below $4,000 to its lowest in nearly seven weeks, continuing a broader sell-off in digital assets that has wiped out more than $140 billion in market value since the beginning of the week.

The second-largest cryptocurrency fell as much as 4.7% to $3,969 on Thursday, while Bitcoin, the market leader, declined 1.7%.
Investors have pulled nearly $300 million from US-listed Ether exchange-traded funds since Monday, when $1.7 billion in bullish bets were wiped out in a sudden downturn that impacted most major tokens. Lucas said she expects more liquidations if Ether’s price drops below $3,800.
Massive liquidations occurred earlier this week when ETH fell below $ 4,000, with $ 498 million in positions liquidated-

The broader market View reflects a growing correlation between cryptocurrencies and risky assets, evident in recent U.S. inflation data (core PCE is forecasted at 0.2% for August) and Federal Reserve comments following rate cuts. Bullish momentum is weakening as traders adjust to delays in reaching the 2% inflation target.

Technically, ETH formed lower highs and repeatedly tested the $4,200–$4,300 range earlier in September after failing to sustain above $4,500.

A multi-week consolidation was disrupted when ETH breached the $4,000 support level, with on-chain data showing $420 million in liquidations at that level. Despite the pain, ETH ETFs received $213 million in inflows yesterday, suggesting underlying fundamentals remain resilient.

Forex Signals Sept 25: US GDP and Unemployment Claims, Lead to Costco, Blackberry Earnings

Posted on by Skerdian Meta

Today we have the Costco and Blackberry earnings, on top of the US GDP and Unemployment claims, but the day kicks off with the SNB rate decision first. Continue reading “Forex Signals Sept 25: US GDP and Unemployment Claims, Lead to Costco, Blackberry Earnings” →

Morgan Stanley Backs Ripple’s XRP as SWIFT Alternative

Posted on by Olumide Adesina

Morgan Stanley has identified Ripple (XRP) as a leading alternative to the traditional SWIFT system in cross-border payments.

The bank’s assessment of blockchain-based solutions highlights Ripple’s potential to solve major inefficiencies in global finance. According to Morgan Stanley, adopting a payment system similar to Ripple could “shorten settlement periods, speed up transactions, and reduce the risk of fraud,” as the highlighted text clarifies.

“Morgan Stanley considers Ripple to be a leading international payment alternative to SWIFT,” the same section added.

This evaluation suggests that Ripple and XRP, the cryptocurrency powering its network, occupy a unique position in the financial sector because they are viewed as a direct competitor to one of the most well-known payment networks, rather than just another blockchain project. Morgan Stanley’s analysis indicates that banks could benefit from Ripple’s efficiency. Reducing settlement times and risks may encourage financial institutions seeking faster and more secure transactions to adopt it.

The recognition of XRP by a major financial institution affirms its utility. Wider adoption of Ripple’s system by banks could directly boost XRP’s use in settlement processes. The report also highlights cost savings, such as lower remittance fees and increased end-user funds, which could promote greater adoption.

This recognition shows that XRP is being compared not only to other digital assets but also to current global solutions. Despite the advantages of Bitcoin and Ethereum, XRP stands as a strong competitor in a market traditionally dominated by centralized systems. Morgan Stanley has identified XRP as a top contender for replacing international payment methods.

Ethereum Leads the Slaughter But Is ETH Bullish Rebound Brewing

Posted on by Olumide Adesina

Ethereum (ETH) led the sell-off and even overtook Bitcoin for the first time in months after recording liquidations of about $1 billion.

 

The data analytics platform Alphractal highlighted the 24-hour Liquidations-to-Open Interest ratio as a critical metric in its most recent update, indicating which assets are under the most strain. It was discovered that there hasn’t been a complete deleveraging of Ethereum and Bitcoin (BTC).

The hardest hit, however, have been mid- to lower-cap altcoins, which are in the Top 10 to the Top 700. This has eliminated leveraged positions and increased market volatility.

Ethereum’s recent losses are being watched to see if they mark the start of larger liquidations, since Bitcoin and other large-cap coins may still see more declines.

Alphractal CEO Joao Wedson also revealed that, despite the pessimism, especially in ETH, he believes the recent wave of long liquidations could act as a catalyst to revive market momentum. “ETH has maintained its pace. “.

ETH has adopted the reaccumulation phase that I predicted in August. We went short at the most recent ATH, but the position is still open. Although many traders remain cautious, I still believe that the market will be reenergized for a bullish October by the recent long liquidations.

Ethereum saw a significant inflow of $772 million from institutional investors last week. As investor sentiment improves, such activity might offer vital support for its price. The spike coincided with the long-awaited rate cut by the US Federal Reserve, which at first raised trepidation but later encouraged renewed trust in digital assets.

Ted Pillows, a cryptocurrency analyst, forecast that Ethereum will eventually rise above $10,000 this cycle, but not before a major correction occurs. Pillows cautioned in his most recent update on X that the market is presently experiencing that pullback and that ETH may fall as low as $3,600 to $3,800 before reaching a bottom.

Ripple: XRP Stages Comeback, but Liquidation Risks Still Lurk

Posted on by Olumide Adesina

Ripple (XRP) is settling above its short-term support level of $2.85. This support follows Monday’s precipitous decline to $2.7, which led to widespread liquidations.

 

Three possible outcomes: sideways price action around $2.85, a steady rebound toward the $3.00 key level, or the continuation of the downtrend toward the $2.50 round-number support.

The launch of a native lending protocol, tokenization of real-world assets (RWAs), and elite institutional Decentralized Finance (DeFi) are the main objectives of Ripple’s revised roadmap. According to Ripple’s announcement on Monday, the XRP Ledger (XRPL) has surpassed $1 billion in monthly stablecoin volume and is now among the top ten chains for RWAs.

Improvements to the XRPL have also guaranteed support for collateral management and stablecoin payments.

XRP is trading above the 100-day Moving Average (EMA) at $2.85, following a steep drop to $2.69 the day before. The Relative Strength Index (RSI) has reversed upward to 42 as the Bulls attempt to regain control.

Risk-on sentiment may be supported and the bullish grip confirmed by a daily close above the 100-day EMA. The bullish hold may be strengthened, and the $3 level may become accessible if price action breaks above the 50-day EMA, which is presently holding at $2.95.

RWA tokenization stands out as the cornerstone of “real-world finance,” with the XRPL anticipated to grow steadily with a carefully chosen feature set that strikes a balance between innovation, compliance, and dependability. According to Ripple, “regulatory compliance is the gateway to adoption; it is not an optional layer.”.

Decentralized Identifiers (DID), one of this layer’s key features, guarantee that organizations can validate identities without depending on centralized credentials and intermediaries, enabling trusted issuers to adhere to Know Your Customer (KYC) regulations.

A permissioned DEX, which permits secondary markets for RWAs or FX, and permissioned domains, which are used to establish user-controlled environments, are additional important features. Additionally, Ripple is aiming to introduce Credit On-Chain, a native lending protocol. Pooled lending, backed by ledger-level underwritten credit, will be introduced by the protocol.