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- #Will BTC Hit a New High?#
BTC has broken past $100,000 and is now consolidating near its peak. What’s your outlook on the next move? With bullish sentiment on the rise, could BTC reach a new all-time high?
#Crypto Market Rebounds#
The crypto market is rallying across the board — altcoins are gaining momentum, and Memecoins are heating up! 🔥MOODENG is up over 100%, while PNUT and VIRTUAL have each gained more than 45%. The total crypto market cap has now exceeded $3.22 trillion!
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Is the XRP rise coming?
Ripple's native token XRP managed to remain stable around $2.09 despite experiencing a get dumped of about 8% in the last week.
The fact that XRP has managed to hold at this price range has allowed investors to look to the future with hope. Especially the rising lows and highs that occur in lower time frames technically signal an upward momentum. So, is XRP preparing for a big rally?
Technical formations and resistance points
Crypto analyst Fabio Zuccara indicates that he has detected a symmetrical triangle formation in XRP's technical outlook. These formations are generally considered harbingers of strong price movements. XRP is currently trading just above $2.167, which is the 20-day Simple Moving Average (SMA), while facing resistance at $2.208, which is the 50-day Exponential Moving Average (EMA).
If this resistance level is surpassed, it is believed that the price of XRP could first climb to 2.27 dollars and 2.33 dollars, and then potentially above the 2.50 dollar level. However, if this breakout fails, the price may pull back to support levels of 2.068 or 1.993 dollars.
Whale movements increased
On-chain data reveals that large investors' interest in XRP has increased again. In particular, over the last week, whale wallets holding between 10 million and 100 million XRP have added over 200 million XRP. One of the most notable transactions was the transfer of 29.5 million XRP for approximately 64 million dollars to Coinbase.
ChainWave Metrics analyst Sasha Varela emphasized that these purchases came not from retail investors, but from "knowledgeable institutional investors who anticipate significant price movements in advance."
ETF optimism revitalized the market
On the other hand, another factor that triggers the upward movement of the XRP price is the developments on the exchange-traded funds that will enable institutional investors to buy XRP without any cryptocurrency exchange (ETF). Indeed, it is known that many major companies that currently issue spot Bitcoin ETFs are knocking on the door of the (SEC) for XRP.
There are new developments regarding the launch of XRP as an ETF. According to the application made to the SEC by the ETF issuer company ProShares, leveraged products of XRP up to 2x will meet with investors in the traditional market. Among the new products that received the green light from the SEC are Ultra XRP ETF, Short XRP ETF, and Ultra Short XRP ETF. Analysts' approval expectation is 80%.
WaveX Funds ETF strategist Linda Moh stated, "Even the ETF rumor alone can trigger strong price increases driven by FOMO," adding that the combination of these expectations with technical indicators and institutional purchases could initiate a new rally.
XRP price prediction
Crypto analyst Dark Defender believes that XRP is in the final phase of its fifth wave Elliott structure and predicts that as long as XRP stays above 2 dollars, it will move towards 3 dollars, and then reach 4.40 and 6.30 dollars.
This article does not contain investment advice or recommendations. Every investment and trading action carries risks, and readers should conduct their own research when making decisions.