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This Triangle Pattern Triggered In 2021 Suggests XRP Price Will Surge 5,000% To $32

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The XRP price is trading around the psychological barrier of $0.60 after breaking through earlier in the week. Notably, XRP has exhibited interesting price action amidst wider market uncertainty, although many cryptocurrencies are starting to turn positive. While some market participants are still bearish on XRP, others are looking out for a very bullish trajectory.

A crypto analyst has revealed an XRP technical analysis that many bullish proponents can resonate with. According to the analyst, XRP is set to surge to $32 in the coming months. 

XRP Price Surge Of Epic Proportions

Despite the broader volatility, many cryptocurrencies have begun to show signs of recovery, with XRP also a focal point of interest. The XRP analysis in question was posted through the social media platform X by Tylie Eric. This analysis was accompanied by an XRP / U.S. Dollar price chart on the 1D candlestick timeframe. As such, the price chart shows XRP’s price action as far back as late 2020. Central to the analysis is the depiction of a symmetrical triangle pattern, which has been gradually forming since early 2021, when XRP reached a peak trading value of $1.96.

Over the years, XRP has displayed a series of lower highs and higher lows, which have progressively tightened into a narrower trading range. This pattern is often regarded by technical analysts as a sign of a potential breakout, where the price could move significantly in either direction once there is a breakout.

Recent price action now puts the XRP price trading at the upper trendline of the triangular pattern. A breakout to the upside would cement a bullish rally for the cryptocurrency. According to the price target noted by Tyler, this breakout could see XRP initially surging to its current all-time high of $3.5 before facing resistance.

However, the sheer nature of the bullish breakout would see XRP quickly clearing this resistance and going as high as $32. His timeline for this happening is between now and the end of the year. This projection, if realized, would represent a substantial 5,230% increase from the current price of XRP.

What’s Next For XRP?

Market sentiment around XRP is currently mixed. Tylie Eric’s forecast is particularly bold, predicting that the XRP price could climb as high as $32 by the end of the year. While surges of such proportions are not new to the crypto XRP, the chances of such an XRP surge happening are very slim at the moment. However, XRP has seen several other bullish predictions of a similar nature in recent weeks, particularly in the wake of the conclusion of the Ripple-SEC lawsuit.

On the other hand, a segment of the market remains bearish on XRP. One analyst recently even went so far as calling XRP the “biggest scam in crypto.” At the time of writing, XRP is trading at $0.6008 and is only on a 1.29% gain in a 30-day timeframe. 

XRP price chart from Tradingview.com
XRP price struggles to hold gains | Source: XRPUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com





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Here’s Why The Bitcoin Price Continues To Hold Steady Between $96,000 And $98,000

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Este artículo también está disponible en español.

The Bitcoin price has dropped below the $100,000 psychological level and is now holding between the $96,000 and $98,000 range. Crypto analyst Ali Martinez provided insights into why Bitcoin could be holding well within this range. 

Why The Bitcoin Price Is Holding Steady Between $96,000 And $98,000

In an X post, Ali Martinez noted that one of the most important support levels for the Bitcoin price is between $98,830 and $95,830, where 1.09 wallets bought over 1.16 million BTC. This explains why Bitcoin is holding steady between $96,000 and $98,000 as investors who bought between this level continue to provide huge support for the flagship crypto. 

As Martinez suggested, it is important for these holders to continue to hold steady as a wave of sell-offs could send the Bitcoin price tumbling even below $90,000. The flagship crypto dropped below $100,000 following the Federal Reserve Jerome Powell’s recent speech, in which he hinted at a hawkish stance from the US Central Bank. 

This sparked a massive wave of sell-offs, as a Hawkish Fed paints a bearish picture for risk assets like Bitcoin. However, despite the Bitcoin price drop below, most Bitcoin holders remain in profit, which is a positive for the flagship crypto. IntoTheBlock data shows that 86% of Bitcoin holders are in the money, 4% are out of the money, and 9% are at the money.

These Bitcoin holders still seem bullish on the leading crypto as they continue to accumulate more BTC. In an X post, Ali Martinez stated that so far in December, 74,052 BTC have been withdrawn from exchanges, and this trend doesn’t seem to be slowing down. 

Bitcoin priceS
Source: X

Traders Anticipate A Bullish Reversal 

Ali Martinez suggested that crypto traders anticipate a bullish reversal for the Bitcoin price from its current level. This came as he revealed that traders on Binance nailed the top, with 62.17% shorting Bitcoin while it was trading at $108,000. Now, Martinez stated that sentiment has flipped, with 55.44% of these trading now longing dips below $96,000. 

Bitcoin price 2
Source: X

Meanwhile, it is crucial for the Bitcoin price to hold this $96,000, as Martinez warned that if BTC loses this support, it could drop below $90,000. The analyst stated that based on the Fibonacci level, if Bitcoin loses $96,000, the next point of focus becomes $90,000 and $85,000. Meanwhile, from a bullish perspective, crypto analyst Justin Bennett suggested that the $110,000 target is still in focus for the Bitcoin price.  

Bitcoin price 3
Source: X

At the time of writing, the Bitcoin price is trading at around $97,000, down over 3% in the last 24 hours, according to data from CoinMarketCap. 

Bitcoin price chart from Tradingview.com
BTC price drops to $93,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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Ethereum Price Crash Incoming? Tron’s Justin Sun Unstakes $209 Million ETH From Lido Finance

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Este artículo también está disponible en español.

The Ethereum price could face some turbulence, as Justin Sun, the founder of Tron (TRX), has unstaked a whopping $209 million from Lido Finance, a liquid decentralized staking platform for Ethereum. Compared to top cryptocurrencies like Bitcoin (BTC) and Dogecoin (DOGE), the Ethereum price has had a relatively muted performance, skyrocketing to $4,000 before consolidating and struggling to move higher. With the possibility of more sell-offs, Ethereum could see its price crashing down if Sun decides to dump more coins. 

Justin Sun Dumps ETH

New reports from Spot On Chain, an AI-driven crypto platform, revealed that Sun recently applied to withdraw a staggering 52,905 ETH tokens worth about $209 million from Lido Finance. According to the on-chain data, this massive withdrawal was part of the ETH stash Sun allegedly accumulated between February and August 2024.

Spot On Chain has revealed that the total amount of Ethereum Sun bought within this period amounted to 392,474 ETH tokens, valued at $1.19 billion. All of these tokens were purchased via three wallet addresses at an average price of $3,027. Presently, the total profit the Tron founder has acquired since his purchase is up to $349 million, representing a 29% increase from its purchasing price. 

Ethereum price 1
Source: X

Interestingly, on October 24, Sun had unstaked a massive 80,251 ETH tokens, worth over $131 million, from Lido Finance. Four days later, he transferred the entire amount to Binance, the world’s largest crypto exchange. This notable move took place just before the price of Ethereum had dropped sharply by 5% in mid-October, which could have resulted in a loss for Sun.

Ethereum price 2
Source: X

Unsurprisingly, this is not the first time Sun has dumped Ethereum. Spot On Chain revealed earlier this month that the Tron Founder had been cashing in his Ethereum holdings during the market rally. 

In November, Sun deposited 19,000 ETH worth $60.83 million to HTX, a crypto exchange. Additionally, he transferred 29,920 ETH valued at $119.7 million to HTX again after its price surpassed $4,000 over the past week. These are just a few transactions the Tron founder has made with ETH over the past month.

Given Sun’s history of large-scale asset movements, further sell-offs could impact the already fragile Ethereum market. Nevertheless, the lingering question remains whether the Tron founder will continue his Ethereum dumping spree.

Ethereum Price Crash Ahead?

While Sun has not publicly commented on his recent large-scale Ethereum withdrawals, the size and timing of these transactions could pose a problem for the altcoin’s future trajectory. Historically, large ETH liquidations have triggered a price crash due to increasing selling pressures.

With the price of Ethereum still unstable and aiming for a stronger upward rally, further large-scale ETH dumps could exacerbate market volatility, especially if other investors or whales follow suit. For now, the price of Ethereum seems to be performing well, recording a more than 7% increase in the last seven days and a 28% surge over the past month, according to CoinMarketCap.

Ethereum price chart from Tradingview.com
ETH price tries to create support at $4,000 | Source: ETHUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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This Analyst Correctly Predicted The Bitcoin Flash Crash To $94,000, But There’s A New Target

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Este artículo también está disponible en español.

Following an earlier prediction of the Bitcoin flash crash to $94,000, a crypto analyst has set a new target for the pioneer cryptocurrency. The analyst anticipates another major decline in the Bitcoin price before it hits a new all-time high

$130,000 Target In Sight After Bitcoin Flash Crash 

The broader crypto market has undergone a significant correction sparked by the recent Bitcoin flash crash. In the past week, the price of Bitcoin lost $3,000 in less than 30 minutes, dropping from $97,000 to $94,000 before quickly rebounding back above $97,000. This unexpected flash crash triggered widespread liquidations, with more than $1.5 billion in long and short positions wiped out as traders scrambled to mitigate losses. 

With Bitcoin currently showing signs of momentum, analysts have voiced expectations of a future price rally. Notably, a TradingView crypto analyst, identified as ‘Setupsfx,’ shared a detailed price chart predicting Bitcoin’s future movements and next target

Bitcoin price 1
Source: TradingView

The analyst accurately forecasted Bitcoin’s flash crash to $94,000 and has now expanded his predictions to include a potential recovery phase. According to his latest analysis, Bitcoin is expected to find strong support around the $96,000 level following a short-term price correction to this key zone. This new support level is seen as a healthy retracement to help build momentum for upward movement. 

The analyst’s chart depicts an accumulation phase on the left side, during which prices seem to be moving sideways, forming strong lows while filling Fair Value Gaps (FVG). Additionally, order blocks and Breaks of Structure (BOS) can be identified on the Bitcoin price chart. 

According to the chart, the Bitcoin price successfully broke out of the aforementioned accumulation zone and started a rally that led to its ATH above $100,000. This bullish momentum aligns with the hype from the US Presidential election, which fueled Bitcoin’s rise to a new all-time high.   

With this in mind, the analyst predicts that Bitcoin will experience another pullback, likely testing the $96,000 zone before a price reversal. This reversal is expected to ignite a fresh rally, potentially pushing Bitcoin toward a new target of $130,000. 

Update On BTC Price Action

At the time of writing, the Bitcoin price is trading at $97,223 after dropping by more than 2% in the last 24 hours, according to CoinMarketCap. The cryptocurrency has been trading below the $100,000 level following a slight pullback after hitting an ATH above $104,000

The broader market sentiment has also turned bullish despite the recent Bitcoin price decline. Notably, Bitcoin’s trading volume has risen by 99% in the last 24 hours, and its market cap is approaching the $2 trillion milestone. 

Bitcoin price 2
Source: TradingView

Commenting on Bitcoin’s price action, crypto analyst Jelle disclosed that Bitcoin’s current price action closely mirrors its bullish behavior during the 2020 ATH breakout. Based on these similar price movements, the analyst predicts that Bitcoin could see another breakout soon if it maintains this bullish momentum.  

Bitcoin price chart from Tradingview.com
BTC price at $97,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com



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