Bitcoin, Ethereum, and Ripple Market Analysis
Ripple’s XRP has experienced an unexpected 25% jump within a week, briefly reaching its three-month peak at $0.57 by the end of last week’s trading period. Analysts believe this could mark the beginning of a strong upward movement supported by historical trends. According to crypto news predictions, this surge in XRP indicates potential continued growth in the cryptocurrency market.
Cryptocurrency markets are once again going through a phase of consolidation as the bulls encounter strong resistance. The bulls, who are the major driving force, are showing some vulnerabilities, indicated by weak spots that could delay the market’s bull run. Solana, typically used as a benchmark, is facing the unusual problem of rejecting crucial resistance levels. This has confirmed the bearish outlook, although a healthy position of buyers could counter this trend.
The crypto news predictions today: Solana’s price has risen by approximately 2.2%, and the entire market has also seen an upward trend. Many financial analysts view this positively; one analyst, for instance, predicted a potential new record with a 450% increase, a forecast supported by the current upward trend.
Bitcoin (BTC) succeeded in setting a close over the daily resistance price of $64,900, while Ethereum (ETH) and Ripple (XRP) further achieved to surpass their resistance levels to launch a bullish trend.
Crypto and the US Presidential Race
With the 2024 election season around the corner, besides, cryptocurrencies are catching the eye of politicians. During the month of May, The House of Representatives adopted the Financial Innovation and Technology for the 21st Century Act; 279 voted for and 136 against it. The unanimous Republicans moved the bill, and 71 representatives from the House of Democrats, of whom the former House Speaker Nancy Pelosi also participated, voted in favour of it. If this becomes law, developers will receive a checklist to be included in the register of digital asset companies.
Crypto News Predictions XRP: A Rising Bull?
XRP has taken the world of cryptocurrency by storm, ascending almost 40% to roughly 60 cents. The rumour that Ripple Labs might resolve its standoff with US regulators has fueled this boom. Alongside Bitcoin, the whole crypto market has also gained from this optimism, driven by the thought of a midterm Donald Trump presidency and a more crypto-friendly government.
XRP has recently seen a relative retracement in trading sessions, bringing it down to a psychological support of $0.5724. This correction, which is interpreted as a correction to the crypto asset’s recent sale, has captivated both traders and investors with the spread of ideas as to whether the bulls can stay at the $0.5724 level.
The volume of XRP’s trade and all major operations on the global level has increased radically. This is a direct result of whale transfers and conflicts that provoke speculation over the Ripple vs. SEC lawsuit. On the 9th of July, there were some important transfers totalling 237 million XRP, and as a result, the price surged from the 44-cent mark to almost 60 cents, which is a 36.364% increase.
Further, the most important lower support is achieved at $0.5850 and the trend line. In case there is a plummet and the charge ends below the $0.5850 level, there is a possibility of the price continuing its downfall as it moves towards the $0.550 support zone in the short term.
Crypto News Predictions Solana
Solana is likely to gain the next major resistance level at about $173. However, the present price zone is also the same as the consolidation range that was from the past, which could then act as the resistance level.
Being a recently strong bullish trend, Solana has been rising smoothly and is now on the verge of breaking through a couple of important resistances. The market sentiment has improved, as evidenced by the 50-day moving average turning up.
By adding 12% to its value last week, the price of Solana has risen over 7.21% this week than last week, which is better than the retrace level that was 61.80%.
ETH/SOL price, for one, is at a point of decision. This pair is on the downtrend under the 50-day and 200-day SMAs and is also at the resistance trend line of the falling channel. Accordingly, if Solana outperforms against ETH, the last mention might fall 11.6% compared to the former. The odds of it are minimal at the present, but if the ETF comes out as a selling-off event, the possibility turns out to be, too.
Bitcoin Crypto News and Prediction
There are suggestions that the price of Bitcoin was in motion on Thursday, but it slowed down its movement after a major upswing caused by investors’ fears that Mt Gox, the defunct crypto exchange, might sell off the company’s tokens persisted.
Once the possibility of a Donald Trump presidency was on the table, the instruments of trade seemed to be quite optimistic by the news predicting a lighter regulatory environment. Initially, Bitcoin was at a $64,769.3 level, up 0.3%, before coming to $64,769.3 in the later 24 hours.
The exchange recently announced that it will start returning tokens stolen in a 2014 hack to creditors in July. However, the total amount of Bitcoin to be distributed remains unclear.
Ethereum is Struggling Near the $3,500
Once more, the price of Ethereum tried to get out of the $3,500 resistance zone. As like Biticon, Ethereum confronted a reversal in addition to the upward price movement it faced around $3,500. It fell down, and $3,400 and $3,375 were the next amounts that the digital currency price has visited in the last day.
Also, the rate fell below $3,400 and tested $3,375. The fall into the low of $3,376 seemed to be the end of the price reduction, and the price is gaining balance over the 23.6% Fib retracement level of the past fall from the $3,516 high to the $3,376 low. The ETH/USD hourly chart shows a decent support level aligned with the $3,375 area which happens to be the bottom of the moving boundary.
Ethereum’s price has not yet broken out of the $3,450 resistance zone, although it has dropped slightly. If the bulls fail to push the price higher, it could move further downward. The main support level is close to the current price, around $3,380, with the trend line also nearby. The primary support point is at the $3,350 zone. According to our crypto news predictions, a clear move below $3,350 could push the price toward $3,270. If the decline continues, the price will likely test the next support level at $3,220, followed by a secondary support area around $3,150.
Crypto Cards in 2024
The cryptocurrency industry has long included various types of payment cards, offering features such as cashback and interest.
With the frequent introduction of new and improved crypto cards, it’s worth considering the future directions for these cards and how they will remain relevant in 2024.
In 2024, crypto cards have become a popular choice for many people as they offer a simple way to use digital assets in daily life. The outlook for crypto cards is promising, with technological advancements further enhancing their appeal.
New cryptocurrency cards introduce unique features, such as integration with self-custodial wallets, eliminating third-party interference and allowing users to store their crypto assets securely.
However, some countries, like Indonesia, still completely prohibit consumers from using cryptocurrencies, leading to lower adoption rates than ideal.
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