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Bitcoin - Will Bitcoin Hit $100,000?!Bitcoin is trading below the EMA50 and EMA200 on the four-hour timeframe and is trading in its descending channel. Bitcoin’s upward correction and its placement within the channel ceiling will allow us to resell it. It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and capital management in the cryptocurrency market will be more important. If the downward trend continues, we can buy within the demand range. During the past trading week, spot Bitcoin ETFs saw a capital outflow of $651 million, breaking their consecutive weekly inflow streak in the United States. Similarly, U.S. spot Ethereum ETFs experienced a modest capital outflow of $26 million, reflecting a nearly neutral trend in this segment. Over the past few months, Bitcoin and Ethereum have followed different trajectories—Bitcoin has seen a substantial price increase, whereas Ethereum has faced notable challenges. One contributing factor to this divergence has been the economic policies proposed by U.S. President Donald Trump, which have favored Bitcoin. Bitcoin’s price is currently just below $100,000, after approaching $110,000 in mid-January. Meanwhile, Ethereum has significantly declined from its recent high in December, as concerns over a potential “dangerous” bubble have emerged. Wall Street giant Goldman Sachs has unofficially confirmed that it has purchased approximately $2 billion worth of Bitcoin and Ethereum in the form of exchange-traded funds (ETFs). According to a regulatory report, Goldman Sachs ramped up its investments in Bitcoin and Ethereum ETFs during the fourth quarter, increasing its Ethereum ETF holdings by 2000% and boosting its Bitcoin ETF investments to over $1.5 billion. The ETFs acquired by Goldman Sachs include Bitcoin and Ethereum funds managed by BlackRock, as well as those under the control of Fidelity and Grayscale. In 2023, BlackRock led the campaign for U.S. regulatory approval of spot Bitcoin ETFs, culminating in the launch of a series of these funds in January 2024. These ETFs quickly became some of the fastest-growing exchange-traded funds in history. For the first time in November, U.S. physical Bitcoin ETFs surpassed $100 billion in net assets, with BlackRock’s iShares Bitcoin Trust (IBIT) now managing over $60 billion in assets. However, some analysts have downplayed the significance of Goldman Sachs’ Bitcoin and Ethereum ETF investments. James Van Straten, a senior analyst at CoinDesk, stated: “Goldman Sachs’ position, like that of many other banks and hedge funds, is not necessarily a net long position.” Last month, BlackRock CEO Larry Fink revealed that he had been in discussions with sovereign wealth funds regarding Bitcoin investments, predicting that such talks could push Bitcoin’s price as high as $700,000. Fink, who spearheaded Wall Street’s entry into the cryptocurrency market last year through a series of Bitcoin ETFs, told Bloomberg at the World Economic Forum in Davos: “If all these discussions had materialized, Bitcoin’s price could have reached $500,000, $600,000, or even $700,000.” In another major development, the U.S. Securities and Exchange Commission (SEC) officially announced that Ripple is not considered a security and should not be subject to securities regulations. This decision marks a significant victory for Ripple and could ease regulatory constraints and lawsuits that the SEC has pursued against other altcoins. Additionally, the SEC has indicated that it may drop its lawsuit against Coinbase and has requested 30 days to review the exchange’s applications. Earlier this week, the SEC also dropped its case against Binance, signaling that SEC Chairman Gary Gensler’s crackdown on cryptocurrencies has largely failed. The lawsuit against Coinbase had been one of the most significant regulatory actions against the crypto industry during Gensler’s tenure at the SEC.
COINBASE:BTCUSDShort
by Ali_PSND
TradeCityPro | Navigating NEXO's Financial Waters👋 Welcome to TradeCityPro! In this analysis, I want to discuss the NEXO coin for you. The NEXO project is a payment platform. This coin has always had issues with the US government and has been involved in several legal cases, but now, with Trump as president, it's experiencing a more relaxed environment. 📅 Weekly Timeframe In the weekly timeframe, we are witnessing an upward trend that started from a low of $0.521 and has managed to reach $1.523 with high buying volume and upward momentum. 🔍 After reaching the $1.523 area, a correction phase started, and the price dropped to $0.923, forming a range box between $0.923 and $1.523. 🔼 Considering the size of the candles, price behavior, and volume, it seems that buyers have been stronger than sellers in this range because they have managed to test the resistance at $1.523 three times, weakening this area with each attempt. ✨ Currently, the price is moving toward this resistance again. Given the high market momentum and key indices like TOTAL, this coin could also see significant momentum if it aligns with these indices, potentially breaking this resistance. 🚀 If the $1.523 resistance is broken, the price targets are around the Fibonacci Extension levels of 1 and 1.618, which approximately align with the $2.6 and $4.9 areas. 💵 Regarding market cap, the current price has a market cap of $900 million. Given this market cap, the potential to reach these targets could increase. 📉 In case of a correction, the first significant area is $0.923. A break below this area could signal a trend change. A break below 50 in the RSI could also indicate a trend change. 📅 Daily Timeframe In the daily timeframe, we can see more details of the price movement within the box. As observed, the price in its last upward move has managed to move toward the $1.542 resistance after breaking the previous high of $1.065. 👀 After reaching $1.542 and the peak of buying volume, a price correction began with decreasing volume, correcting down to the 0.5 Fibonacci level. This area is also an important support zone, and the price has reacted to this zone, now moving back toward the $1.542 resistance. ⚡️ Currently, breaking the 60.23 level in the RSI could be very crucial. If this area is breached, considering the momentum entering the market, the likelihood of breaking $1.542 increases. 📈 The best long trigger currently is at $1.542. If the price stabilizes above this area, we can expect an upward price movement. 💥 On the other hand, if selling volume enters the market and we see large red candles, more significant corrections are possible, and the price could drop at least to the previous low of $1.212, the 0.5 Fibonacci area. 💫 In case of a deeper correction, the next support areas are the 0.618 Fibonacci level ($1.144), $1.065, and $0.0950. If the RSI breaks below 50, we can expect a confirmation of a downward momentum, making it a risky move to anticipate further price drops without solid triggers. 📝 Final Thoughts This analysis reflects our opinions and is not financial advice. Share your thoughts in the comments, and don’t forget to share this analysis with your friends! ❤️
Long
by tradecitypro
11
XRP - Roadmap to $3Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📦XRP has been trading within a large range, bounded by two round numbers, $2 and $3, forming a symmetrical triangle. Last week, after rejecting the lower boundary of the triangle, XRP turned bullish in the short term. For the bulls to maintain control and regain the long-term trend, a breakout above the red trendline and the green structure is required. Such a breakout would target $3 as the initial objective. 🎯 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
18
XRP IS STILL RANGING!!!!!!!FUNDAMENTAL OUTLOOK I hope all is well traders. These are the fundamentals/hype that have the XRP community buzzing. 1. Ripple vs SEC Update – Judge Approves Sealing of Key Documents 2. Gary Gensler, the Chairman of the SEC, has announced his resignation effective at noon on January 20, 2025 3. CEO Brad Garlinghouse met with President-elect Donald Trump at Mar-a-Lago on January 7 The approval of sealing key documents definitely brings huge buzz for the community. In my personal opinion, if you are willing to hide any type of information then it is considered ALPHA. What kind of alpha that might be? Only the judge will ever know but if they are insisting on sealing some information then best believe it has pivotal data (technology, price predictions, future involvement with other companies/tech etc). Gary Gensler leaving will also “potentially” send XRP to new highs since he was the main catalyst on why crypto was heavily regulated. There is a probability that price will sky rocket on 1/20 which on a technical outlook agrees (bias wise) to that theory. Now Brad Garlinghouse having dinner with the Donald Trump also has everyone going crazy. I see this both bullish and bearish as sometimes making it too obvious is too obvious. However this meet up gives positive conviction on the SEC vs RIPPLE case finally ending. As you can see, there is a bunch of moves being made with positive speculation but the charts will always tell it all. TECHNICAL OUTLOOK We are still ranging. On a technical standpoint price has not made any significant changes to give us a conviction for price to reach ATH. With that being said, this price action translates to the whales moving price sideways in order to prepare for the following big dates (SEC vs RIPPLE outcome and or Gary Genslers date of resignation). With those 2 major headlines weeks away, we can theorize that this accumulation is being created for this next leg up/down. As for my approach portfolio wise, I will be observing on the sidelines with my active buy limit orders on standby. Pro tip: This is a unit game, accumulate as much UNITs as you can because UNITs will buy you FREEDOM. As always, trade safe. Mr.Oazb
BITSTAMP:XRPUSD
by MROAZB
XRP - History Repeating Itself... Again!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📔I find the OKX:XRPUSDT 4H chart interesting. Previous post: Do you notice a pattern here? is XRP doing again? 🔄 If history will repeat itself, a break above the green zone around $2.7 is needed to signal the start of the next bullish movement. 🎯Once the setup is activated, $3 will be the short-term target, and then $5. 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
10
Bitcoin - Bitcoin finally reached 6 digits!Bitcoin is above the EMA50 and EMA200 in the 4H timeframe and is trading in its ascending channel. risk ON sntiment in the US stock market or investing in Bitcoin ETF funds will lead to its continued upward movement. which will cause the failure of the resistance zone. After the authentic failure of this area, we will see Bitcoin reach the ceiling of the channel. Capital withdrawals from Bitcoin ETFs or risk OFF sentiment in the US stock market will pave the way for Bitcoin to decline. The target of this downward movement will be the level of 90 thousand dollars. It should be noted that there is a possibility of heavy fluctuations and shadows due to the movement of whales in the market and compliance with capital management in the cryptocurrency market will be more important. Last week, Donald Trump appointed Paul Atkins as the new chairman of the Securities and Exchange Commission (SEC), a decision that sparked mixed reactions. Hester Peirce, popularly known as the “Crypto Mom,” expressed her strong support for Atkins to replace the current SEC chairman, Gary Gensler. She stated, “Based on my previous experience working with him in this organization, I can’t imagine a better candidate for this position.” Meanwhile, Caroline Crenshaw, a current member of the SEC, has been nominated for another term and now awaits Senate confirmation. If approved, she will serve on the commission until 2029. During her tenure, Crenshaw has taken a notably strict stance on cryptocurrencies, earning a reputation for being even tougher than Gary Gensler. One key point of contention is her opposition to approving Bitcoin Exchange-Traded Funds (ETFs). In a letter dated January 2024, she cited concerns such as investor protection and market manipulation as reasons for her dissent. These views have led some to label her as the primary adversary of the crypto industry. Bitcoin Spot ETFs now hold over one million bitcoins, surpassing the holdings of Bitcoin’s anonymous creator, Satoshi Nakamoto. Within less than a year, these funds have become the largest bitcoin holders in the world. Lawrence Summers, a former U.S. Treasury Secretary, told Bloomberg that the idea of establishing strategic bitcoin reserves is “ridiculous.” However, he welcomed efforts to regulate the crypto space and foster financial innovation. Summers also expressed skepticism about reducing government spending through the Productivity Department, calling it a challenging path. The performance and weekly and annual returns of major Layer 1 cryptocurrencies are shown in the accompanying chart. Meanwhile, Pavel Durov, the founder of Telegram, appeared in a Paris court to face charges of facilitating illegal activities through his messaging app. Durov, who was temporarily detained on August 24, was released after posting a $6 million bail but has been barred from leaving France until March 2025. French prosecutors have accused him of running a platform that aids illicit activities. If convicted, Durov could face up to 10 years in prison and a fine of €500,000. This case has raised concerns about privacy-focused technologies in the Web3 space. At the same time, the number of cryptocurrency wallets with non-zero balances has reached 400 million. Michael Saylor, the CEO of Microstrategy, recently shared his proposed bitcoin purchasing strategy with crypto enthusiasts. He reiterated that bitcoin should be considered a long-term asset and advocated for using a Dollar-Cost Averaging (DCA) strategy for sustainable growth. Saylor, one of bitcoin’s most prominent supporters, stated that for the past four years, he has consistently advised investors to “buy bitcoin and never sell.” He emphasized that bitcoin should be held as a long-term capital asset rather than a short-term profit tool. Saylor recommended that investors enter the market every three months using funds they do not need and hold the investment for at least ten years. He also stressed that investors should not worry about short-term volatility and should avoid stress by adhering to this strategy. The trading volume of spot cryptocurrencies reached $2.7 trillion last month, marking the highest level since May 2021. A new survey revealed that over 80% of cryptocurrency holders admitted that their investment decisions were influenced by emotions like Fear of Missing Out (FOMO) and Fear, Uncertainty, and Doubt (FUD). The survey, which included 1,248 participants, showed that 84% invested due to FOMO and 81% due to FUD. Kraken Exchange commented that the findings suggest many investors trade based on emotions and fears rather than logical strategies. These emotions often stem from misunderstandings or mistrust about the future of specific cryptocurrencies. The survey also revealed that FOMO drives investors to chase rising prices, while only 17% focus on buying opportunities during price drops. Interestingly, 63% of cryptocurrency holders acknowledged
COINBASE:BTCUSD
by Ali_PSND
XRPUSD Weekly triangle currently retesting as exact wick supportEven though we are still inside the triangles on the logarithmic chart, we have now been above this key linear chart symmetrical weekly triangle now for 2 consecutive weekly candle closes, and sure enough the big dump that coincided with the SEC’s appeal found wick support right on the top trendline of this triangle retesting it currently as support. It’s certainly plausible that price could continue to fall back inside the linear chart symmetrical triangle here, however closing the currentl weekly candle above ot’s top trendline here and maintaining it as precise wick support would be such a bullish sign were it. To happen that then I would start wondering if the entire appeal thing might actually not go through because maintaining this as support should validate the breakout and send price action on its way up to find that $3.73 cent measured move target. Of curse still very probably we could dip back inside this triangle one more time as well, either way I thought it’d be a good idea to repost this triangle and also include a screenshot of the current wick support zoomed in. *not financial advice8
BITSTAMP:XRPUSD
by DrDovetail
The weekly linear symmetrical triangle truncatedI wanted to post thesame triangle I posted in the previous idea,but instead of starting the top trendline from the ath in 2018 starting it from the second highest wick.I think both are valid but wanted to give this one its own separate chart since in doing so it makes both the top trendline of the triangle and the bottom have a more similar length and also gives me a easy red ,ove line that is tilted forward which could be useful should the dotted measured ove line start to act as additional support or resistance along the way to the target. Once again as I said in the previous idea, no breakout has been confirmed of this in ear triangle pattern just yet, but the current weekly candle is holding wick support exactly on the top trendline currently which is an optimistic sign. Still completely possible it loses that support but for now it seems post worthy so I can keep a close eye on it. *not financial advice*
BITSTAMP:XRPUSD
by DrDovetail
2
XRP - History Repeating Itself...Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst. 📔I find the BINANCE:XRPUSDT 4H chart interesting. Do you notice a pattern here? Take a look at the first two red arrows. 📊Mid-November, XRP made a lower low (red arrows), got stuck within a range (green zone), and finally broke above the green zone to start its bullish impulse. Currently, XRP seems to be forming a similar pattern. 🔄 If history repeats itself, a break above the green zone around $1.53 is needed to signal the start of the next bullish movement. 🎯Once the setup is activated, I will target the $2 mark! 📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck! All Strategies Are Good; If Managed Properly! ~Rich
Long
by TheSignalyst
28
Bitcoin Hits All-Time High After BTC ETF Options DebutMarket Update - November 22, 2024 Takeaways BlackRock’s iShares Bitcoin Trust became the first US spot bitcoin ETF approved for options trading:  The price of bitcoin subsequently surged to nearly $98,000 on Thursday, reaching a new all-time high. Institutional interest in MicroStrategy surged this week, with the value of those holdings jumping to $15.3 billion:  Microstrategy founder Michael Saylor has continued to purchase bitcoin and MSTR shares have seen year-to-date gains of roughly 450%. Trump considers Teresa Goody Guillén for SEC chair:  Her appointment would likely usher in crypto-friendly policies and regulatory reform. Meme coins including Bonk, Mog, and Brett have set all-time highs amid a rally partly driven by the resurgence of DOGE to $0.43:  Bonk surged 120% following a burn campaign earlier this week, while Moo Deng also hit record prices. Russia has drafted amendments to tax crypto income, classifying digital assets as property:  The new laws would subject trading and mining income to a 15% personal income tax, while VAT exemptions would apply to crypto transactions. ➕ Topic of the Week: Recurring Buys 🫱 Read more here
GEMINI:BTCUSD
by Gemini
1
HBAR Surge 53% Amid Speculation Over Brian Brooks Leading US SECHedera’s native token, CRYPTOCAP:HBAR , has captured the spotlight with a remarkable 53% price surge in just 24 hours, fueled by speculation that Brian Brooks, Hedera Board Member and former Binance US CEO, could become the next US SEC Chair. This development, coupled with Hedera's technological advancements and strategic collaborations, has sparked optimism among investors. Here’s a detailed breakdown of the factors driving CRYPTOCAP:HBAR ’s meteoric rise and what lies ahead. Brian Brooks’ SEC Nomination Fuels Optimism Brian Brooks’ nomination for the US SEC Chair position has electrified the Hedera community. Known for his progressive stance on cryptocurrencies, Brooks is seen as a favorable candidate for the crypto sector, a stark contrast to the current Chair, Gary Gensler, often criticized for his stringent approach. This nomination has generated significant excitement among CRYPTOCAP:HBAR holders. Notably, on the prediction platform Khashi, Brooks’ odds have risen sharply, securing him the second spot in the SEC Chair race with 12% of votes. His potential leadership at the SEC could create a pro-crypto regulatory environment, further solidifying Hedera’s position as a leading blockchain network. Hedera’s Role in WISeSat.Space and Other Collaborations Beyond the political buzz, Hedera’s strategic initiatives have added fuel to its rally. The blockchain network is playing a critical role in the upcoming WISeSat.Space satellite launch, scheduled for January 2025. This groundbreaking collaboration with SpaceX will enable the first-ever exchange from space, integrating secure satellite communication with blockchain technology. Additionally, partnerships with major entities such as the Nairobi Securities Exchange are boosting Hedera’s adoption in real-world applications, contributing to the token's rising demand. These efforts are positioning CRYPTOCAP:HBAR as a major player in blockchain innovation, earning it comparisons to Solana, often dubbed the "Ethereum Killer." Technical Analysis Technically, CRYPTOCAP:HBAR has broken out of a symmetrical triangle pattern on the weekly chart, signaling a bullish trend reversal. At the time of writing, the token is trading at $0.1362, with a significant 244% increase in trading volume to $2.06 billion. While the Relative Strength Index (RSI) is currently at 89.66, indicating overbought conditions, the strong buying pressure suggests the rally could continue in the near term. Analysts expect CRYPTOCAP:HBAR to test its next resistance at $0.1562, a crucial level that could pave the way for a long-term price target of $1, as forecasted by prominent crypto analyst Captain Faibik. Market Sentiment and Future Expectations The combination of bullish news and technical patterns has positioned CRYPTOCAP:HBAR for sustained growth. Investors are betting on Brian Brooks’ potential as SEC Chair to foster a friendlier regulatory landscape for cryptocurrencies, which could benefit Hedera and other blockchain projects. Furthermore, Hedera’s consistent collaborations and its role in innovative projects like WISeSat.Space are building strong fundamentals that enhance the token's appeal. The broader crypto market rally is also creating a favorable environment for CRYPTOCAP:HBAR to thrive. Conclusion HBAR’s impressive price surge reflects a blend of political optimism and strong fundamentals. As speculation around Brian Brooks’ nomination gains traction and Hedera continues to secure high-profile partnerships, CRYPTOCAP:HBAR appears poised for further growth. While overbought technical indicators suggest the possibility of short-term corrections, the long-term outlook remains highly optimistic, with analysts projecting a potential rally to $1. Hedera’s role in blockchain innovation and its growing adoption make it a token to watch in the coming months.
Long
by DEXWireNews
1
Mt. Gox Delays Repayment Deadline, Bitcoin RalliesMarket Update - October 18, 2024 Mt. Gox has delayed its bitcoin repayment deadline by a year:  This delay is viewed as a greenshoot for bitcoin prices, with traders arguing it reduces selling pressure on the broader market. The price of bitcoin was just short of $67,000 by Thursday afternoon. US spot bitcoin ETFs saw notable net inflows of more than $555 million on Monday, the highest since June:  Spot ether ETFs also saw $17 million in inflows, continuing positive momentum for both investment vehicles. Coinbase is pursuing partial summary judgment to obtain SEC documents about crypto regulation:  The regulator has previously delayed in responding to a Freedom of Information request made by the exchange over the same issue. US spot bitcoin ETFs saw $18.66 million in net outflows on Tuesday, led by Fidelity’s FBTC, which recorded $48.82 million in withdrawals:  BlackRock’s IBIT was the only ETF to see inflows, with $39.57 million entering the fund. Monochrome will introduce Australia's first spot ETH ETF on Tuesday, following on from the launch of its spot Bitcoin ETF in August:  Notably, the Monochrome ether ETF will allow both cash and in-kind redemptions, which could garner interest from institutional investors. 🌶️ Topic of the Week: Chiliz (CHZ): Bringing Blockchain and Crypto to Sports Fandom 👉 Read more here
GEMINI:BTCUSD
by Gemini
1
New HBO Documentary Hints at Identity of Bitcoin InventorMarket Update - October 11th 2024 Takeaways HBO documentary seeks to unveil Satoshi Nakamoto’s identity : HBO released a documentary, “Money Electric: The Bitcoin Mystery,” on Tuesday that suggests an early Bitcoin developer named Peter Todd invented the cryptocurrency. Crypto.com has filed a lawsuit against the SEC after receiving a Wells notice, claiming the agency has overextended its authority : The lawsuit challenges the SEC's stance that most cryptocurrencies are securities and the agency's regulatory practices. Bitcoin's price pulled back this week : The US Department of Labor announced that inflation rose 2.4% year-over-year in September, slightly above analyst expectations. Crypto reacted negatively to the news, with bitcoin dropping back below $60,000. US spot bitcoin ETFs saw $18.66 million in net outflows on Tuesday, led by Fidelity’s FBTC, which recorded $48.82 million in withdrawals : BlackRock’s IBIT was the only ETF to see inflows, with $39.57 million entering the fund. The head of Hong Kong’s Securities and Futures Commission (SFC) says the body plans to approve more crypto exchanges before the end of 2024 : The news comes after the regulator received criticism for implementing a strict approach to licensing. New HBO Documentary Suggests Peter Todd is Bitcoin’s Founder An HBO documentary, “Money Electric: The Bitcoin Mystery,” released Tuesday hints that early Bitcoin developer Peter Todd is the cryptocurrency’s founder and man behind the pseudonym Satoshi Nakamoto. In a clip late in the documentary, Todd denied he is the founder of Bitcoin and continued to deny it in a subsequent interview with Coindesk and other media outlets. The film provided minimal concrete evidence that Todd created Bitcoin, but focused instead on his technical skills, his love of cryptography, and his relationship with Adam Back, the Blockstream CEO and investor of Hashcash. "Money Electric" director Cullen Hoback also pointed to a 2010 forum post from Satoshi Nakamoto in which Todd responded, arguing that Todd had forgotten to switch his accounts and his post was a continuation of Satoshi’s original post. "This is going to be very funny when you put this into the documentary and a bunch of bitcoiners watch it," Todd said in the documentary clip while standing alongside Back. "I suspect a lot of them will be very happy if you go this route because it's yet another example of journalists really missing the point in a way that's very funny." This is not the first time Hoback has made a documentary film about trying to uncover the identity of a secretive figure. For his 2021 HBO documentary “Q: Into the Storm,” Hoback spent three years attempting to find the creator of Qanon. Crypto.com Sues SEC After Receiving Wells Notice Crypto.com has officially sued the SEC after the company received a Wells notice from the regulatory agency, which typically precedes enforcement actions. The platform said the SEC's continued regulatory enforcement against crypto companies forced them into taking legal action. According to Crypto.com, the SEC is unjustly expanding its jurisdiction over digital assets by labeling most cryptocurrencies as securities. The lawsuit is part of a broader industry pushback against the SEC's regulatory approach, which many crypto companies claim is outdated and unsuitable for digital assets. The platform is far from the first to take such legal action; Coinbase and Consensys have also previously sued the SEC, similarly challenging the agency’s stance on categorizing cryptocurrencies as securities. The SEC has reiterated the need for crypto exchanges to register with the agency, while firms argue that current regulations are impractical for the digital asset sector. 🌉 Topic of the Week: What is Bridging? ➡️ Read more here
GEMINI:BTCUSD
by Gemini
XRPUSD Weekly triangle currently retesting as exact wick supportEven though we are still inside the triangles on the logarithmic chart, we have now been above this key linear chart symmetrical weekly triangle now for 2 consecutive weekly candle closes, and sure enough the big dump that coincided with the SEC’s appeal found wick support right on the top trendline of this triangle retesting it currently as support. It’s certainly plausible that price could continue to fall back inside the linear chart symmetrical triangle here, however closing the currentl weekly candle above ot’s top trendline here and maintaining it as precise wick support would be such a bullish sign were it. To happen that then I would start wondering if the entire appeal thing might actually not go through because maintaining this as support should validate the breakout and send price action on its way up to find that $3.73 cent measured move target. Of curse still very probably we could dip back inside this triangle one more time as well, either way I thought it’d be a good idea to repost this triangle and also include a screenshot of the current wick support zoomed in. *not financial advice8
BITSTAMP:XRPUSD
by DrDovetail
SEC Allows Options Trading on BlackRock’s Bitcoin ETF Market Update - September 27th, 2024 Takeaways The SEC has approved Nasdaq's request to list and trade options on BlackRock's spot bitcoin ETF: The decision introduces new hedging tools for investors but comes with a 25,000 contract limit which has been criticized by the exchange as “conservative.” Crypto investment products saw a second consecutive week of inflows, totaling $321 million, after the Fed's decision to cut rates: Bitcoin investment products led the pack with $284 million in inflows last week. More than 40 Republican lawmakers called on SEC chair Gary Gensler to withdraw the crypto custody rule (SAB 121): They argue the rule increases consumer risk and stifles innovation. Caroline Ellison, ex-CEO of Alameda Research, was sentenced to two years in prison for her role in the FTX fraud case: Despite her cooperation with law enforcement in the case against Sam Bankman-Fried, the judge ruled that Ellison must still serve time. On Monday, OpenAI’s official news account on X was compromised, with hackers using it to promote a fake "$OPENAI" token: The fraudulent post claimed the token would grant access to future beta programs and directed victims to a spoof website. PayPal to accept crypto payments: Payments giant PayPal announced Wednesday it would allow business accounts to buy, hold, and sell cryptocurrencies. SEC Allows Options Trading on BlackRock’s Bitcoin ETF on Nasdaq's ISE The SEC has approved a rule change permitting the listing and trading of options on the iShares Bitcoin Trust (IBIT), BlackRock’s Bitcoin ETF, on Nasdaq’s International Securities Exchange (ISE). BlackRock had been pushing for this approval since March, following the launch of several bitcoin-linked ETFs in the US. Earlier proposals faced concerns around market manipulation. Regulators also expressed concerns around introducing more crypto derivatives products to the market, due to their nascency. To address these concerns, the SEC approved an amendment that limits positions on IBIT options to just 25,000 contracts. The limit has been described as "extremely conservative" by Nasdaq. The regulator also concluded that the exchange’s surveillance systems would be an adequate deterrent for market manipulation. Currently, BlackRock’s IBIT spot bitcoin ETF is the largest in the world, with more than $17 billion in assets under management. 🏦 Topic of the Week: What Are Central Bank Digital Currencies? ➡️ Read more here
GEMINI:BTCUSD
by Gemini
Ripple SEC Case Enters Final Round: What’s Next for XRP?The long-standing legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) is entering its final phase, with the crypto community eagerly awaiting a conclusion. The lawsuit, which has kept XRP investors on edge, is now at a critical juncture as experts predict a 75% chance of an SEC appeal, potentially extending the case further and adding complexity to Ripple’s regulatory journey. Ripple SEC Case: A Brief Recap For nearly three years, Ripple ( CRYPTOCAP:XRP ) has been entangled in one of the most high-profile legal cases in the cryptocurrency space. The SEC initially accused Ripple of conducting an unregistered securities offering, alleging that CRYPTOCAP:XRP qualifies as a security. The stakes were high, with the SEC seeking a $2 billion penalty. However, the recent ruling by Judge Torres ordered Ripple to pay $125 million — a far lower amount than expected — which many viewed as a partial victory for Ripple. Despite this ruling, the case is far from over. Speculation is rife that the SEC may file an appeal, challenging portions of the ruling related to institutional sales, while Ripple could counter-appeal the court’s decision on secondary market sales. According to ex-SEC lawyer James Farrell, there’s a 75% chance the SEC will appeal the liability portion of the lawsuit, a move that could delay final resolution by several months or even years. Potential Outcomes of an Appeal If the SEC proceeds with its appeal, it could significantly impact XRP’s regulatory status and broader implications for the cryptocurrency market. XRP has been at the center of debates around whether cryptocurrencies should be treated as securities, and the case’s outcome could set a precedent for future regulatory decisions in the U.S. Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty have been vocal in downplaying concerns about extending the legal battle, reassuring the community that Ripple does not intend to prolong the case unnecessarily. However, should the SEC move forward, Ripple could be forced to mount a cross-appeal, challenging the court’s decision on institutional sales and transactions related to its On-Demand Liquidity (ODL) platform. Notably, some legal experts, such as Fred Rispoli, have raised questions about whether Ripple would be entitled to statutory interest if it wins the appeal. This could potentially force the SEC to return the $125 million penalty, plus interest, significantly altering the financial implications of the case. Rispoli also suggested that the SEC might need to cover Ripple’s appeal costs if it loses, further complicating the regulatory body’s position. XRP’s Market Performance and Sentiment While legal battles continue to cast a shadow over XRP, the asset has shown signs of resilience. As of writing, XRP is trading at $0.5866, up 0.89% on the day, with a moderate Relative Strength Index (RSI) of 56, signaling a potential bullish reversal. Despite XRP’s recent muted price action, the broader altcoin market, including coins like SUI, has performed well, indicating a renewed appetite for risk among investors. XRP’s futures open interest has also risen by 1%, suggesting that market participants remain cautiously optimistic about the token’s short-term prospects. However, its trading volume has seen a slight dip, down 11% to $928.86 million, indicating that while interest in XRP remains strong, it is tempered by the ongoing uncertainty surrounding the Ripple-SEC case. What’s Next for XRP? The SEC’s deadline to file an appeal is looming in October 2024, and the crypto market is bracing for potential volatility in the run-up to that date. Any decision by the SEC to appeal will almost certainly extend the lawsuit, adding further complexity to Ripple’s regulatory future. The case’s outcome will have far-reaching consequences, not only for Ripple and XRP but for the broader cryptocurrency market, as it could shape how U.S. regulators treat digital assets going forward. For now, CRYPTOCAP:XRP investors are treading carefully, with market sentiment mixed but leaning toward optimism. A positive outcome for Ripple could trigger a significant rally in XRP prices, while an extended legal battle may keep the token range-bound in the short term. Conclusion The Ripple-SEC lawsuit is nearing a critical point, with both sides preparing for what could be the final phase of legal proceedings. While the possibility of an appeal looms large, the crypto community remains cautiously optimistic about XRP’s future. Investors should stay tuned for key developments in October, as the case’s resolution will likely have profound implications for Ripple, XRP, and the broader digital asset market.
Long
by DEXWireNews
T minus two weeks to SEC appeal deadlineThe SEC has until October 7th to file an appeal in their securities case against Ripple. Some suspect the recent debut of the Grayscale XRP Trust suggests there won't be one. The XRP price has shown sensitivity to big dates in the case, and the SEC seems bent on pushing further action in new forms. Closure of the securities case itself though could be the catalyst that sets the XRP price free to climb. On the other hand, an appeal could last to a precipitous drop!
BINANCE:XRPUSDLong
by quickshiftinn
5
XRP: SEC vs Ripple Case Closed -(Don't Get Your Hopes Up Though)The 4 Year war is over for the worlds most hated altcoin. Judge Analysa Torres has ordered Ripple to pay $125 million in civil penalties and cease any further violations of securities laws, concluding the outstretched legal case against Ripple. This penalty is favorable for Ripple, given that the SEC had originally claimed a $2 billion fine. Considering the XRP army is still fairly strong thanks to paid youtubers and Twitter/X shillers, I'm expecting a short term volatility and wicky price action similar to what happened the previous time Ripple announced an SEC victory. Noteworthy that XRP has ALREADY gone through a pre-emptive pump, increasing nearly 50% BEFORE the official announcement, likely due to insider trading as is typical with these kinds of things. The previous 24-hours saw a trading volume of around $1.68 billion, indicating that whales are moving and the biggest action is likely already over. The market capitalization of the altcoin is currently $29.5 billion, which is ridiculous considering there is no actual usecase for the alt after 12 years. To be completely objective - this COULD change, IF Ripple could come up with an actual usecase for XRP that somehow burns the enormous supply . Unfortunately, up until this point, it has been used by the board members as a liquidity pool to fund their actual company (Ripple). I don't think it would be wise to trust them considering they have shown their true colors and misused the once promising coin as well as the community. ________________________________ BINANCE:XRPUSD CRYPTOCAP:XRP
BINANCE:XRPUSD
by CryptoCheck-