XRP Price Prediction: $1.28B enters ETFs lower triangle near $2.05


Ripple’s XRP token is trading at $2.06, with a trading volume of $1.37 billion in 24 hours. The token is the fifth in the world, with a market value of $124.9 billion. The current circulation is 60.7 billion XRP, while the maximum is 100 billion. Despite the strong market sentiment, the price of XRP fell by 0.28% in the last 24 hours, marking the fourth consecutive session of decline.

ETF trends provide support. Spot XRP ETFs attracted $1.28 billion, which helped absorb the selling pressure even as caution continued in the market.

  • Price: $2.06
  • Market value: $124.9 billion
  • Trading volume within 24 hours: $1.37 billion
  • Funds flowing into ETFs: $1.28 billion

Coinbase’s opposition to the Senate bill could cause problems for XRP and stablecoins

This week, Coinbase withdrew its support for market regulation proposed by the US Senate Banking Committee. The CEO of Coinbase Brian Armstrong explained that the project has serious problems, especially regarding stablecoins and the benefits that users receive. He said the change he wants to “eliminate stablecoin awards, allowing banks to restrict their competition.”

In simple terms, these regulations could prevent people from earning interest on stablecoins and give more power to traditional banks.

“After reviewing the Senate’s banking plan in the last 48 hours, unfortunately Coinbase cannot support the currency in its current form. This version would be much worse than it is. We should not have a bill at all rather than a bad bill,” said Armstrong.

Stablecoins are digital currencies that keep their value close to the US dollar, and many use them to earn interest. If these new rules are passed, banks may limit the way stablecoins work, which will limit opportunities for cryptocurrency users and reduce competition.

Coinbase warns that this could return the control of money to the banks, which would affect money and the cryptocurrency market in general. Everyone is now paying close attention to what is happening at this time.

If these restrictions on stablecoins are passed, XRP could face problems from conservative crypto investors, which would reduce demand. This, in turn, can reduce the growth of the price and keep XRP close to the main support groups.

XRP Price Prediction: A falling triangle pattern indicates a price drop below $2.05 to $1.90

The XRP price outlook is neutral, as it is currently trading at around $2.0568, above the support area near $2.0527. The price fluctuates within a descending triangle, a pattern that is often associated with the continuation of a downtrend. The lower border of the triangle corresponds to the horizontal support level, while the upper line shows the downward trend. Recent candles show a volatile situation, with small patterns and no clear changes.

The most common technical indicators, led by the Relative Strength Index (RSI), are hovering around 45, indicating neutrality but a slight downward bias. The average movement (red and blue) remains stable, which indicates weak energy.

XRP/USD price chart - Source: Tradingview
XRP/USD price chart – Source: Tradingview

The Fibonacci levels show that $2.1127 and $2.1911 represent a point of resistance if the price goes up, while $1.9764 and $1.9144 show bearish targets if the price goes down. Until a definite price move occurs, the triangle pattern remains in place.

A confirmed close below the $2.0527 level would open a selling opportunity at $1.9144, while a breach of the $2.1127 level would end the decline and signal a move to $2.1911. Trading opinion: Short trade below 2.0527.

Bitcoin Hyper: Is the next evolution of Bitcoin on the Solana platform?

Launches Bitcoin Hyper ($HYPER) A new stage in the Bitcoin universe. Although Bitcoin is still the gold standard for security, Bitcoin Hyper adds something it has always lacked: Solana’s speed. The result: high-speed, low-cost smart contracts, embedded software, and the creation of meme-specific cryptocurrencies, all secured by Bitcoin.

This project, which has been reviewed, focuses on… Company Application for reliability and scalability as demand increases. The project has already gained momentum, with the pre-sale price exceeding $30.7 million, and the token price standing at only $0.013585 before the next increase.

With the rise of Bitcoin services and the high demand for powerful software based on this, Bitcoin Hyper is seen as a bridge between two of the biggest cryptocurrency brands. If Bitcoin has set the foundation, then… Bitcoin Hyper Being able to make it fast, flexible and fun again.

Click here to participate in the pre-sale

A note XRP Price Prediction: $1.28B enters ETFs lower triangle near $2.05 appeared for the first time Cryptonews Arabic.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *