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Will BTC Crash to $90K Again?

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1 week ago

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Bitcoin price today trades at $100,236.0 on 12 PM after hitting a daily high of $102,528.0 today after a -0.67% move on December 13.

Bitcoin Price Today: New BTC ATH or $90K Revisit?

Regardless of this drop, Bitcoin price today is up -0.67%  and trades at $100,236.0. After dropping 2% from the December 12 swing high of $102,636 BTC currently sits above a key support level, a breakdown of which could trigger another crash, but a bounce here could kickstart the bull run. 

What will it be? A crash or a rally? Let’s explore.

Regardless of this drop, Bitcoin price today is up -0.67%  and trades at $100,236.0.

*bitcoin price updated as of 12 PM.

Value of BTC trades at $100,236.0, bringing the year-to-date gain from 56% on October 20 to roughly 132% as of December 13. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands around 70%, and is well below BTC.

Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.

Bitcoin To End 2024 on Bullish Note

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end 2024 on a positive note. Historical returns show that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price PerformanceHistorical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, Bitcoin’s market capitalization stands at $1,984.5 billion and is close to hitting the $2 trillion mark.

Bitcoin’s Market Capitalization

While Bitcoin’s market cap hovers around $1,984.5 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.

BTC: A composition of 24-hour Trading Volume

Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $89.1 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.

Notable Bitcoin Blockchain Upgrades

With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.

Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.

Key Bitcoin Blockchain Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2020-2024:

  • Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.

2017-2019:

  • Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
  • Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
  • SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.

2015-2016:

  • Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
  • BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.

2013-2014:

  • Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
  • BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.

2010-2012:

  • Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
  • Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.

2009-2010:

  • Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.

Bitcoin Price Outlook For Next 30 Days

DatePriceChange
December 13, 2024100998.370.16%
December 14, 2024102758.251.91%
December 15, 2024104782.663.92%
December 16, 2024106864.875.98%
December 17, 2024108594.337.7%
December 18, 2024108687.687.79%
December 19, 2024108639.647.74%
December 20, 2024108903.098%
December 21, 2024109232.098.33%
December 22, 2024109167.278.27%
December 23, 2024108940.178.04%
December 24, 2024109321.258.42%
December 25, 2024110896.549.98%
December 26, 2024113335.7012.4%
December 27, 2024114283.1513.34%
December 28, 2024114378.0513.43%
December 29, 2024114111.2313.17%
December 30, 2024113893.8012.95%
December 31, 2024114149.6913.21%
January 01, 2025114944.5514%
January 02, 2025115458.3014.51%
January 03, 2025115560.9214.61%
January 04, 2025115299.9314.35%
January 05, 2025115004.1014.06%
January 06, 2025115054.9314.11%
January 07, 2025114168.1513.23%
January 08, 2025113281.3112.35%
January 09, 2025113495.4712.56%
January 10, 2025113583.6312.65%
January 11, 2025115176.0914.23%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $108,918 as of December 31. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029

Bitcoin Price Outlook Between 2025 & 2029

January$100,962.21$114,476.62$107,719.42

73.3%

February$100,926.05$114,575.20$107,750.62

73.3%

March$100,889.88$114,673.77$107,781.83

73.4%

April$100,853.72$114,772.34$107,813.03

73.4%

May$100,817.56$114,870.91$107,844.24

73.5%

June$100,781.40$114,969.49$107,875.44

73.5%

July$100,745.23$115,068.06$107,906.65

73.6%

August$100,709.07$115,166.63$107,937.85

73.6%

September$100,672.91$115,265.20$107,969.06

73.7%

October$100,636.75$115,363.78$108,000.26

73.7%

November$100,600.58$115,462.35$108,031.47

73.8%

December$100,564.42$115,560.92$108,062.67

73.8%

All Time$100,763.31$115,018.77$107,891.04

73.5%

January$103,347.14$117,495.84$112,679.45

81.2%

February$106,129.85$119,430.77$117,296.23

88.7%

March$108,912.57$121,365.69$121,913

96.1%

April$111,695.28$123,300.61$126,529.78

103.5%

May$114,478$125,235.54$131,146.56

110.9%

June$117,260.71$127,170.46$135,763.34

118.4%

July$120,043.43$129,105.38$140,380.11

125.8%

August$122,826.14$131,040.31$144,996.89

133.2%

September$125,608.86$132,975.23$149,613.67

140.6%

October$128,391.57$134,910.15$154,230.45

148.1%

November$131,174.29$136,845.08$158,847.22

155.5%

December$133,957$138,780$163,464

162.9%

All Time$118,652.07$128,137.92$138,071.72

122.1%

January$139,801.17$144,684.75$169,276.92

172.3%

February$145,645.33$150,589.50$175,089.83

181.6%

March$151,489.50$156,494.25$180,902.75

191%

April$157,333.67$162,399$186,715.67

200.3%

May$163,177.83$168,303.75$192,528.58

209.7%

June$169,022$174,208.50$198,341.50

219%

July$174,866.17$180,113.25$204,154.42

228.4%

August$180,710.33$186,018$209,967.33

237.7%

September$186,554.50$191,922.75$215,780.25

247.1%

October$192,398.67$197,827.50$221,593.17

256.4%

November$198,242.83$203,732.25$227,406.08

265.8%

December$204,087$209,637$233,219

275.1%

All Time$171,944.08$177,160.88$201,247.96

223.7%

January$212,511.67$218,298$243,655

291.9%

February$220,936.33$226,959$254,091

308.7%

March$229,361$235,620$264,527

325.5%

April$237,785.67$244,281$274,963

342.3%

May$246,210.33$252,942$285,399

359%

June$254,635$261,603$295,835

375.8%

July$263,059.67$270,264$306,271

392.6%

August$271,484.33$278,925$316,707

409.4%

September$279,909$287,586$327,143

426.2%

October$288,333.67$296,247$337,579

443%

November$296,758.33$304,908$348,015

459.8%

December$305,183$313,569$358,451

476.5%

All Time$258,847.33$265,933.50$301,053

384.2%

January$317,150.58$326,144.33$372,391.92

499%

February$329,118.17$338,719.67$386,332.83

521.4%

March$341,085.75$351,295$400,273.75

543.8%

April$353,053.33$363,870.33$414,214.67

566.2%

May$365,020.92$376,445.67$428,155.58

588.7%

June$376,988.50$389,021$442,096.50

611.1%

July$388,956.08$401,596.33$456,037.42

633.5%

August$400,923.67$414,171.67$469,978.33

655.9%

September$412,891.25$426,747$483,919.25

678.4%

October$424,858.83$439,322.33$497,860.17

700.8%

November$436,826.42$451,897.67$511,801.08

723.2%

December$448,794$464,473$525,742

745.6%

All Time$382,972.29$395,308.67$449,066.96

622.3%

In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.

Bitcoin Price Outlook Between 2030 and 2050

2030

2031

2032

2033

2040

2050

January$465,154.42$481,462.17$546,469.67

779%

February$481,514.83$498,451.33$567,197.33

812.3%

March$497,875.25$515,440.50$587,925

845.6%

April$514,235.67$532,429.67$608,652.67

879%

May$530,596.08$549,418.83$629,380.33

912.3%

June$546,956.50$566,408$650,108

945.7%

July$563,316.92$583,397.17$670,835.67

979%

August$579,677.33$600,386.33$691,563.33

1012.3%

September$596,037.75$617,375.50$712,291

1045.7%

October$612,398.17$634,364.67$733,018.67

1079%

November$628,758.58$651,353.83$753,746.33

1112.4%

December$645,119$668,343$774,474

1145.7%

All Time$555,136.71$574,902.58$660,471.83

962.3%

January$667,167.08$691,240.58$802,526.58

1190.8%

February$689,215.17$714,138.17$830,579.17

1235.9%

March$711,263.25$737,035.75$858,631.75

1281.1%

April$733,311.33$759,933.33$886,684.33

1326.2%

May$755,359.42$782,830.92$914,736.92

1371.3%

June$777,407.50$805,728.50$942,789.50

1416.4%

July$799,455.58$828,626.08$970,842.08

1461.5%

August$821,503.67$851,523.67$998,894.67

1506.7%

September$843,551.75$874,421.25$1,026,947.25

1551.8%

October$865,599.83$897,318.83$1,054,999.83

1596.9%

November$887,647.92$920,216.42$1,083,052.42

1642%

December$909,696$943,114$1,111,105

1687.1%

All Time$788,431.54$817,177.29$956,815.79

1439%

January$946,061.92$979,838.83$1,150,786.08

1751%

February$982,427.83$1,016,563.67$1,190,467.17

1814.8%

March$1,018,793.75$1,053,288.50$1,230,148.25

1878.6%

April$1,055,159.67$1,090,013.33$1,269,829.33

1942.4%

May$1,091,525.58$1,126,738.17$1,309,510.42

2006.3%

June$1,127,891.50$1,163,463$1,349,191.50

2070.1%

July$1,164,257.42$1,200,187.83$1,388,872.58

2133.9%

August$1,200,623.33$1,236,912.67$1,428,553.67

2197.7%

September$1,236,989.25$1,273,637.50$1,468,234.75

2261.6%

October$1,273,355.17$1,310,362.33$1,507,915.83

2325.4%

November$1,309,721.08$1,347,087.17$1,547,596.92

2389.2%

December$1,346,087$1,383,812$1,587,278

2453%

All Time$1,146,074.46$1,181,825.42$1,369,032.04

2102%

January$1,387,378.67$1,426,572.58$1,647,465.92

2549.9%

February$1,428,670.33$1,469,333.17$1,707,653.83

2646.7%

March$1,469,962$1,512,093.75$1,767,841.75

2743.5%

April$1,511,253.67$1,554,854.33$1,828,029.67

2840.3%

May$1,552,545.33$1,597,614.92$1,888,217.58

2937.1%

June$1,593,837$1,640,375.50$1,948,405.50

3033.9%

July$1,635,128.67$1,683,136.08$2,008,593.42

3130.7%

August$1,676,420.33$1,725,896.67$2,068,781.33

3227.5%

September$1,717,712$1,768,657.25$2,128,969.25

3324.3%

October$1,759,003.67$1,811,417.83$2,189,157.17

3421.1%

November$1,800,295.33$1,854,178.42$2,249,345.08

3517.9%

December$1,841,587$1,896,939$2,309,533

3614.7%

All Time$1,614,482.83$1,661,755.79$1,978,499.46

3082.3%

January$1,912,592.58$1,975,978.17$2,362,093.25

3699.3%

February$1,983,598.17$2,055,017.33$2,414,653.50

3783.8%

March$2,054,603.75$2,134,056.50$2,467,213.75

3868.4%

April$2,125,609.33$2,213,095.67$2,519,774

3952.9%

May$2,196,614.92$2,292,134.83$2,572,334.25

4037.4%

June$2,267,620.50$2,371,174$2,624,894.50

4122%

July$2,338,626.08$2,450,213.17$2,677,454.75

4206.5%

August$2,409,631.67$2,529,252.33$2,730,015

4291.1%

September$2,480,637.25$2,608,291.50$2,782,575.25

4375.6%

October$2,551,642.83$2,687,330.67$2,835,135.50

4460.1%

November$2,622,648.42$2,766,369.83$2,887,695.75

4544.7%

December$2,693,654$2,845,409$2,940,256

4629.2%

All Time$2,303,123.29$2,410,693.58$2,651,174.63

4164.3%

January$2,753,723.75$2,916,544.25$3,019,295.17

4756.4%

February$2,813,793.50$2,987,679.50$3,098,334.33

4883.5%

March$2,873,863.25$3,058,814.75$3,177,373.50

5010.6%

April$2,933,933$3,129,950$3,256,412.67

5137.7%

May$2,994,002.75$3,201,085.25$3,335,451.83

5264.9%

June$3,054,072.50$3,272,220.50$3,414,491

5392%

July$3,114,142.25$3,343,355.75$3,493,530.17

5519.1%

August$3,174,212$3,414,491$3,572,569.33

5646.3%

September$3,234,281.75$3,485,626.25$3,651,608.50

5773.4%

October$3,294,351.50$3,556,761.50$3,730,647.67

5900.5%

November$3,354,421.25$3,627,896.75$3,809,686.83

6027.7%

December$3,414,491$3,699,032$3,888,726

6154.8%

All Time$3,084,107.38$3,307,788.13$3,454,010.58

5455.6%

Roughly five years from now, aka 2030, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.

Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.

Bitcoin Technical Analysis: Breaching This Key Level Could Knock BTC to $90K

Since forming a local top on November 11 at $89,657, Bitcoin’s move to $100,000 and beyond has been in a rangebound movement. Using the volume profile indicator shows three key levels: 

  1. Value Area High/Low (VAH/L) at $99,690 and $90,924, respectively.
  2. Point of Control (POC) at $98,000.

So far Bitcoin has bounced from the VAH at $99,690, but how far this recovery goes is the question investors need to be asking. A lack of buying pressure that leads to a breakdown of the $99,690 with high volume spike will signal the start of a bearish outlook. In such a case, Bitcoin price could revisit $90,924 after the POC at $98,000 is breached.

Hence, the chances of BTC revisiting $90K is present, but not confirmed until the $99,690 barrier is breached. With the weekend approaching this outlook seems plausible. 

BTC/USDT 1-hour chartBTC/USDT 1-hour chart
BTC/USDT 1-hour chart

On the other hand, if Bitcoin bounces off the $99,690 and sets up a higher high above the current ATH of $104,698, it would signal the continuation of the uptrend. In such a case, investors can expect a higher low to propel BTC to the next target of $111,850.



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Tron’s Justin Sun Offloads 50% ETH Holdings, Ethereum Price Crash Imminent?

Published

13 minutes ago

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December 23, 2024

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Tron founder Justin Sun has been heavily offloading his ETH holdings with Ethereum price crashing 17% following the rejection at $4,000. Over the past 7 days, Sun has offloaded another 50% of his holdings worth $143 million. Market analysts predict that ETH price could further take a dip below $3,000 once again before resuming upside momentum.

Tron’s Justin Sun on ETH Selling Spree

Justin Sun is on a massive Ethereum selling spree since the coin resumed its upward journey after Donald Trump’s election win. This continued even until last week, when Tron founder offloaded $143 million worth of ETH causing Ethereum price to tank over 15% amid the crypto market crash.

Blockchain analytics firm Spot On Chain reported that Justin Sun redeemed 39,999 ETH (valued at $143 million) from liquid staking platforms Lido Finance and EtherFi. He subsequently deposited the entire amount into HTX.

Since November 10, as Ethereum price has trended upward, Sun has deposited a total of 108,919 ETH (worth $400 million) to HTX at an average price of $3,674. Notably, many of these deposits occurred near local price peaks.

Courtesy: Spot On Chain

Spot On Chain also revealed that Justin Sun currently has 42,904 ETH (valued at $139 million) in the process of unstaking from Lido Finance. The Tron founder might potentially send this funds to HTX later.

Ethereum Price Drop Below $3,000 Coming?

With Ethereum price losing its crucial support of $3,500, the market sentiment for the world’s largest altcoin has turned bearish. Last week, crypto market analysts turned bearish on Ethereum expecting the ETH price to drop $2,800 on selloff by whales.

Popular market analyst IncomeSharks stated that it was a “low-volume weekend,” for Ethereum following a volatile week for stocks. The analysts added that it won’t be the right time to sell.

The On-Balance Volume (OBV) indicator, a tool used to gauge buying and selling pressure, remains steady, oscillating within a channel. Recent Ethereum buyers are still in profit, providing some support for the market. However, the below chart shows that there’s still scope for Ethereum to take a dip to $3,000.

Source: IncomeSharks

Prominent crypto analyst “I am Crypto Wolf” also highlighted a bullish outlook with a potential inverse head-and-shoulders (iHS) pattern. According to the analyst, Ethereum price chart is currently forming the “right shoulder” of the iHS continuation pattern.

Source: I Am Crypto Wolf

This setup could provide the momentum needed to surpass the $4,000 resistance and aim for a $10,000 target by May. A breakout is anticipated by the end of January, though a retest of the $3,000 level remains a possibility before the rally takes off, he noted.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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CryptoQuant Hails Binance Reserve Amid High Leverage Trading

Published

6 hours ago

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December 23, 2024

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Crypto analytics platform CryptoQuant has conducted a deep dive research into Binance and other centralized exchanges to uncover how susceptible they are to liquidity risks. With the crypto ecosystem trading at a very high premium, exchanges require high liquidity to meet growing demands. Of its findings, CryptoQuant singles out Binance and OKX as platforms to watch out for.

What Makes Binance Stand Out from Centralized Exchanges?

According to CryptoQuant, it analyzed the leverage levels of top centralized exchanges. It conducted this exercise to evaluate their liquidity, default risk and how crypto reserves backs trading activity. The analysis also employs leverage ratio calculation to estimate trader’s exposures.

Based on this, the analytics firm singled out Binance as an exchange with robust reserves. The trading platform maintains this reserve despite the significant growth in open interest this year. This is signficant, considering how Binance Futures list new tokens to fuel this expansion including Solana’s Fartcoin.

“Its reserves in Bitcoin, Ethereum, and USDT comfortably exceed its open interest. Binance also reported the lowest and most stable leverage ratio among major exchanges, with a ratio of 12.8 in December 2023, rising slightly to 13.5 in December 2024,” the CryptoQaunt report reads.

As pointed out, this stability and the 2.6x expansion in Bitcoin open interest on the platform from $4.45 billion to $11.64 billion implies that the exchange can handle unexpected liquidations.

As the report hinted, smaller exchanges like OKX also maintain low leverage ratios.

Centralized Exchanges and Avoiding the FTX Saga

In addition to the Binance spotlight, CryptoQuant also mentioned Gate io, Bybit, and Deribit. However, the report noted that these trading platforms have the highest leverage ratios in the market pegged at 106, 86, and 32, respectively. Notably, this figures show open interests for Bitcoin and Ethereum is higher than the existing reserves available on these centralized exchanges.

The analysis concluded by flagging the impact of high leverage trading, one of the major causes of the FTX Derivatives Exchange collapse. This report serves as an eye opener that can help traders manage risk per platforms they trade on.

Meanwhile, FTX is at the tail end of its bankruptcy proceedings. As Coingape reported earlier, FTX has set January 3 as the date to commence creditor repayment.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Ripple Transfers 90M Coins, What’s Happening?

Published

16 hours ago

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December 22, 2024

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XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

Ripple has emerged as one of the top post-election performers, quadrupling in value since November 5. This impressive rally, alongside gains in other cryptocurrencies, has spotlighted digital assets and fueled speculation about their potential trajectory heading into 2025.

XRP Whales Make Massive Moves, Sparking Price Speculation

XRP has regained its footing above the $2 support level, fueled by significant whale activity. In only 30 minutes, 90 tokens, worth approximately $202,5 million, were transferred to unknown wallets.

The unusually large withdrawals, flagged by Whale Alert, have sparked heightened interest among investors and increased speculation about the token’s future price movement.

Whale Alert reveals that the recent XRP transfers consisted of two significant transactions. The largest involved 50 million tokens, valued at approximately $112.5 million, moved to a newly created wallet. The second transaction saw 40 million tokens worth $90 million sent to a recently activated address.

The destination wallets are not linked to any known cryptocurrency exchanges, leading investors to speculate that high-net-worth individuals or institutional investors may be accumulating Ripple. This has fueled expectations of further price movement. Also, recently, renowned hedge fund manager Scott Melker has revealed that former President Donald Trump is actively accumulating XRP and HBAR tokens.

Crypto analysts think that large transfers to exchanges from unknown wallets are often a bullish indicator. This is a signal that the whales-the major holders-are moving their holdings to cold storage, which typically reflects a long strategy, rather than short-term selling. This can set up a positive outlook for the cryptocurrency’s price. However, the reversal situation results usually with reversal outcome so it’s interesting the price is still on the rise.

This development comes as a US appeals court announces the filing deadlines for the opening and reply briefs by Ripple and its CEO, Brad Garlinghouse.

Holding Steady at Key Support, Awaiting Next Move

XRP and the broader cryptocurrency market have remained relatively flat in recent days, with the token holding critical support levels that could spark a renewed uptrend. At the time of writing, XRP was trading at $2.25, reflecting a slight 0.35% rise over the past 24 hours.

If the bulls stay in control, Ripple may continue its upside, having key resistances between $3.62 and $4.30. A break above such a range could send prices towards $5.73. At 46, though, the RSI rests, showing that sellers have still managed to be at the helm and cap upside momentum. Increased buying pressure will, thus, be critical for resuming the uptrend.

The Awesome Oscillator supports a bullish divergence with the histogram bars turning positive, yet still remaining in negative territory. This indeed would hint at a possible reversal, though additional buying pressure needs to be generated to confirm the uptrend.

The critical support level that traders should watch is at $2.20. A drop below this might set off panic and send prices lower.

In spite of this uncertainty and the possible bearishness of it all, this token is still attracting a great deal of interest from institutional investors-a fact that points to its long-term potential.

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Teuta Franjkovic

Teuta is a seasoned writer and editor with over 15 years of expertise in macroeconomics, technology, and the crypto and blockchain sectors.

She began her career in 2005 as a lifestyle writer for *Cosmopolitan* before transitioning to business and economic reporting for renowned outlets like *Forbes* and *Bloomberg*.

Inspired by thought leaders like Don and Alex Tapscott and Laura Shin, Teuta embraced blockchain’s potential, viewing cryptocurrency as one of humanity’s most transformative innovations.

Since 2014, she has specialized in fintech, focusing on crypto, blockchain, NFTs, and Web3. Known for her strong collaboration and communication skills, Teuta also holds dual MAs in Political Science and Law.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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