Nigeria-based KuCoin users will begin being levied a 7.5% value-added tax (VAT) on transaction fees starting on July 8. Some observers believe that Kucoin’s decision to implement this tax is intended to enhance its chances of securing an operating license. A Lagos-based crypto industry player stated that implementing the tax will likely harm the industry. […]
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XRP 6-Year Trendline Draws To A Close, Analyst Predicts 1,400% Rally To $7.5
As the major pieces begin to fall into place, XRP may now be in a position where things are going well for its future price trajectory. While XRP enthusiasts are still reeling in amazement over Ripple’s recent win in court, a crypto analyst has dropped a bullish XRP price prediction that investors can look forward to. According to the analyst known as Jaydee, XRP is getting close to skyrocketing into new price territories.
Analyst Predicts XRP Rally To .5
XRP days of trading less than may be ending very soon, according to a recent price prediction by crypto analyst Jaydee. The analyst made this known while sharing an ultra bullish prediction on social media platform X. According to the XRP/USD bi-weekly price chart shared by the analyst, a six-year trendline is finally drawing to a close. This trendline closure could signal the start of a massive bull run.
Interestingly, Jaydee’s technical analysis is based on a non-logarithmic price scale for XRP and a previous occurrence. Despite the price swings in the past six years, XRP has broadly traded within a descending channel since its record peak of .40 in 2017.
The upper resistance line has capped upside around .90, while the lower support line has held above .14 during the multi-year bear market. However, recent price action suggests the entire 6-year downtrend is now wedging towards an apex. The contracting range is leaving less and less room for XRP to fluctuate between resistance and support.
XRP Set For A Breakout
As pointed out by Jaydee, this only suggests XRP is set for a breakout to the upside. Furthermore, the analyst indicated a price target of .5 when XRP finally surges. With XRP currently trading at .4873, this price target represents an increase of 1,430%.
While that may sound outlandish, the analyst points to a similar price cycle between 2013 and 2017 to justify such an explosive move. Notably, a similar breakout of a five-year descending triangle pattern saw XRP surge over 600x to peak at .4.
Jaydee also noted “dumb money” traders will eventually be left behind during the surge. “We will make sure to take PROFITS on Dumb Money! It will be a FUN but VERY SAD cycle for most,” the analyst said.
Whether XRP can replicate those blistering gains remains to be seen. Despite his outrageous bullishness, Jaydee did reply affirmatively to a comment mentioning that this cycle could be different from the 2017-2021 cycle. Looking at XRP’s chart, some key resistance zones to watch are around .54, .63, and .8.
Featured image from Adobe Stock, chart from TradingView
Dogecoin Enters Final Stage Of Consolidation, Analyst Predicts 6,150% Rally To $7.5
Crypto analyst Trader Tardigrade has provided insights into the Dogecoin (DOGE) future trajectory. Based on his analysis, the foremost meme coin could soon enjoy a god candle, sending its price to unprecedented heights.
Dogecoin’s Massive Rally Will Send It To .5
Trader Tardigrade predicted in an X (formerly Twitter) post that Dogecoin will rise to as high as .5 when it makes its “huge surge.” He made this prediction while revealing that the meme coin had formed a triangle consolidation, which is the last phase of consolidation before Dogecoin made that massive move to the upside.
The crypto analyst also revealed that these triangle consolidations have formed in every market cycle and usually occur just before Dogecoin enjoys a parabolic rally. Trader Tardigrade has been bullish on DOGE for a while now and has continued to lay out bullish narratives for the meme coin.
In one of his previous X posts, he highlighted a ladle pattern, which he claimed has always formed for the meme coin in every cycle. He mentioned that “the bowl” was ready and was almost time for the shaft. The chart he shared showed that Dogecoin could rise above once the shaft had formed.
In another post, Trader Tardigrade highlighted a parallel channel that Dogecoin usually follows. He then claimed that the meme coin’s next move would be “huge” while revealing that DOGE had left the lower support line of the current channel. Based on the chart he shared, Dogecoin could rise to when that move happens.
Meanwhile, Trader Tardigrade isn’t the only analyst who has alluded to Dogecoin’s historical patterns to predict the meme coin’s future trajectory. Crypto analyst Javon Marks recently predicted that Dogecoin could rise to as high as based on its historical breakout trend, in which the meme coin always enjoys a larger run in every subsequent bull run.
Dogecoin Current Outlook
Despite the bullish predictions made by these analysts, Dogecoin seems to have a bearish sentiment around it at the moment. Crypto analyst Kevin (formerly Yomi OG) revealed that DOGE has lost all of its daily moving averages, which he noted is a “very bad sign” for Dogecoin in the short to medium term if it cannot reclaim these moving averages.
The crypto analyst added that Dogecoin had made a lacklustre bounce after tapping the golden pocket down at .11. For now, he claimed that the point of interest is Dogecoin climbing above .132 and that it would need to hold above the range between .10 and .11 should the meme coin go lower.
At the time of writing, Dogecoin is trading at around .12, down in th last 24 hours, according to data from CoinMarketCap.
Why XRP Could Hit $7.5 Sooner Than You Think: Expert Insights Unveiled
The digital currency XRP, one of the major altcoins in the crypto market, is currently showing signs that may excite investors and traders.
Recent analyses indicate the potential for significant price movement. According to Egrag Crypto, a prominent cryptocurrency analyst, the altcoin’s price could ascend to ambitious new heights in the coming months based on technical patterns and market trends.
Technical Indicators Pointing Upwards
XRP has so far emerged as a focal point for potential bullish activity. Notably, the asset has recently broken out of a week-long downtrend, recording a 1.6% uptick in the last 24 hours, with its price now hovering around .5032.
This shift comes as the market is closely watching several key indicators that could predict further gains. According to the technical analysis done by Egrag, there is currently a preliminary target for XRP at .5, known as the Atlas Line target.
Egrag Crypto also expresses a strong confidence that XRP will break through the White Triangle pattern—a technical configuration seen as a critical indicator of future price movement—in the chart he shared (below).
Breaking this pattern could set the stage for reaching and surpassing a “measured move at .5” levels, according to the analyst.
Further technical analysis identifies the Fibonacci 1.618 zone, stretching from .5 to .5, as a critical region for potential profit-taking should the token’s price ascend to these levels.
Achieving a weekly close above this range could set XRP toward mid-double-digit prices, approaching the Fib levels of 2.414 and 2.618. Such movements would underscore a strong bullish trend, provided the current market momentum continues.
#XRP ATLAS LINE – .5 is Target Number 1 (UPDATE):
A) With high conviction, I can say that #XRP will break the White Triangle and hit the measured move at .5.
B) Moreover, the Fib 1.618 zone (.5-.5) is critical, and taking profits will happen here.
C)… pic.twitter.com/MyKqoczSa3
— EGRAG CRYPTO (@egragcrypto) June 10, 2024
XRP Market Sentiment And Analyst Perspectives
Adding to the optimism, another analyst known as “Jack The Rippler” recently pointed out a bullish triangle pattern forming on the daily chart for the token. If this pattern successfully breaks above the .600 level, it could trigger an exceptionally bullish trend.
However, despite these optimistic technical forecasts, the reality of reaching such high figures remains speculative, with significant resistance levels that must be overcome in the short term.
Meanwhile, Egrag Crypto highlights the potential for rotational profits from other altcoins to bolster XRP’s market position. The analyst concluded his analysis: “The rotational profits will pour 100% into XRP because it is the BLACKHORSE which all my bets are on.”
Featured image created with DALL-E, Chart from TradingView
Expert Charts 1,400% Course To $7.5 For XRP Price As RSI Falls To All-Time Low
Crypto analyst Egrag Crypto has provided another bullish narrative for the XRP price. This time, he outlined two scenarios that could occur and cause the crypto token to experience a breakout, potentially sending it as high as .5. This comes with the recent revelation that XRP’s Relative Strength Index (RSI) has reached its lowest ever.
Time For An XRP Price Breakout
Egrag Crypto shared a chart in an X (formerly Twitter) post that showed that the crypto token could rise to .5 when it accomplishes the breakout, which the crypto analyst claimed is imminent. Egrag highlighted a “White Triangle” breakout on the chart, which he stated is “aligning perfectly” with the previous charts and the Fib 0.702 to 0.786 levels.
He added that the measured move is projected to be between .2 and .5 before XRP could take off and climb to .5. Egrag further remarked that the “critical breakout point” for XRP is around .70 and .7’5 and that the crypto token is “poised” to achieve this breakout in the “next couple of weeks.
Egrag warned that XRP could still experience significant declines before then, stating that a retest of the breakout might be on the cards. However, he is convinced that a “MEGA RUN for XRP is on the horizon.”
Meanwhile, for the second scenario of how XRP could achieve its impending breakout, Egrag Crypto highlighted an ‘Atlas Line’ on the XRP chart and claimed that the breakout point for XRP is at .6799. He noted that XRP is still holding strong “like a boss” on the atlas line, suggesting it shouldn’t be long before it breaks above .6799.
In the meantime, .5777 and .5000 are key price levels that XRP holders should monitor. Egrag labels them resistance and support levels for XRP’s upward trend along this atlas line.
XRP Hits Its Lowest RSI In History
Egrag revealed in a more recent X post that XRP’s RSI is at its lowest ever. He noted that this assertion was based on the monthly time frame and shared a chart to prove his claim. Following his revelation, Egrag highlighted how bullish this was for XRP, stating, “If this isn’t a positive signal, I don’t know what is.”
The chart he shared showed that XRP’s Relative Strength Index is at 38, which is indeed bullish for the crypto token. Low RSI levels are considered a buy signal since they suggest that the coin is oversold and undervalued. Therefore, crypto investors might be looking to accumulate XRP, with these buy orders expected to trigger a move to the upside for the crypto token.
At the time of writing, XRP is trading at around .52, up almost 1% in the last 24 hours, according to data from CoinMarketCap.
Crypto Market’s ‘Monster Cycle’: $7.5 Trillion Market Value By 2025, Bitcoin Targets $150,000
In a recent Bloomberg report, it has been revealed that the market value of crypto assets is expected to witness a remarkable surge, nearly tripling to .5 trillion by 2025.
Wall Street Firm Predicts “Monster Of A Crypto Cycle”
The next few years are likely to usher in a “monster of a crypto cycle,” according to Wall Street research firm Bernstein. In addition, Bernstein analysts have an “outperform” rating on the stock as they initiate coverage of online brokerage Robinhood Markets.
Analyst Gautam Chhugani believes investors should take advantage of the opportunity to ride the “crypto comeback arc,” envisioning a “ninefold increase” in Robinhood’s crypto trading volume over the next two years.
Chhugani expressed his confidence in Robinhood’s prospects, stating that now is the opportune time to enter the market with an 18-24 month window to capitalize on the crypto resurgence. Assigning a price target of to the stock, Chhugani’s price target is currently the highest among analysts tracked by Bloomberg.
Following the publication of positive February operating data, which included increases in assets under custody and surging trade volume, Robinhood shares surged as much as 12% in New York trading, reaching the highest intraday level since December 2021.
So far this year, the stock has gained over 40%. However, Wall Street remains cautious about its outlook, with six analysts rating the stock as a buy, ten suggesting a hold, and three recommending selling.
With the anticipated growth of crypto assets from .6 trillion to .5 trillion, the largest digital currency, Bitcoin, is set to become a trillion asset by 2025. According to Chhugani, this surge is expected to be fueled by the “unprecedented success” of exchange-traded funds (ETFs) tied to the cryptocurrency.
Additionally, Chhugani predicts that Bitcoin will reach a high of 0,000 next year. He emphasized the ongoing institutional adoption of cryptocurrencies and expressed expectations for the continued success of the Bitcoin ETF and the potential launch of an Ethereum ETF within the next 12 months.
Robinhood Positioned For Success
In the context of Robinhood, Chhugani highlighted the company’s “full suite crypto offering within a regulated broker platform,” which positions it favorably. Bloomberg notes that traditional broker platforms, such as Charles Schwab Corp., have been more hesitant in offering cryptocurrency services.
Summing up his bullish stance, Chhugani stated:
In short, we are bullish on crypto, and we believe Robinhood’s crypto business resurgence will restore its fortunes with investors.
The projected exponential growth of the cryptocurrency market and the optimistic outlook for Robinhood’s crypto business have captured the attention of market observers. With the increasing mainstream acceptance and institutional adoption of digital assets, the next few years hold significant potential for investors and market participants alike.
Featured image from Shutterstock, chart from TradingView.com
Donald Trump’s Crypto Portfolio Soars to $7.5 Million, Fueled by TRUMP Coin’s Ascension and Ethereum Gains
After the former 45th President of the United States, Donald Trump, saw his cryptocurrency holdings exceed million, just ten days later, the value of Trump’s digital asset collection has escalated to .5 million. This increase is largely due to .66 million emanating from the cryptocurrency he holds called TRUMP, which has experienced a significant […]
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Addressable Raises $7.5 Million to Help Web3 Marketers Reach Their Audiences
Addressable, a decentralized marketing startup, has raised .5 million in its seed round to tackle the current marketing woes in the Web3 area. The company claims its software can pair the onchain addresses of users with their social accounts, giving Web3 marketers more knowledge about their audiences to make efficient advertising campaigns in the crypto sector.
Addressable Raises .5 Million in Seed Round
Marketing agencies have had a difficult time advertising Web3 products to their audiences due to the lack of insight they have into these services. Addressable, a software startup, has raised .5 million in its seed round on the claims that it might have the solution to this problem. The round, which had the support of Viola Ventures, Fabric Ventures, Mensch Capital Partners, and North Island Ventures, banks on the capabilities of Addressable’s software.
The company claims that it can pair the onchain addresses of users with their social media profiles, making marketers capable of getting key data on their potential target audiences. This data can help them to design specialized campaigns to entice a certain kind of Web3 audience, and then point these to their social profiles on platforms like Twitter.
Addressable’s software has to choose each user in a poll of more than 500 million Web3 addresses from several chains, and cross-reference them with the whole universe of social network accounts existing on different platforms today. For now, the company supports Ethereum, Polygon, Binance Smart Chain, Fuse, Arbitrum, and other EVMs for targeting purposes, For tracking, only audiences on the Ethereum blockchain are monitored, with support for Polygon and Binance Smart Chain coming in the future.
Competitors and Vision
Addressable’s business model is not unique, as there are already other companies that are also trying to solve the Web3 marketing problem. Tomer Sharoni, co-founder and CEO of Addressable, told Techcrunch about the competition that the company faces, and how they are trying to differentiate from these other startups. He stated:
Addressable.io competes with other Web3 CRM startups including such as Blaze, Cookie3, Kazm and Absolute Labs, that focus mainly on customer reactivation by analyzing and engaging with the company’s existing onchain user base.
However, Sharoni states that Addressable had a more holistic approach, as they aim to unlock all Web3 onchain users. Also, the company states that they protect the privacy of the users targeted, as their customers cannot target users as individual data points, and no info is saved on their servers.
What do you think about Addressable’s claims and business model? Tell us in the comments section below.
Uniswap Token (UNI) Forms Rounded Bottom, Can Price Hit $7.5?
- UNI price creates more bullish sentiment as price forms rounded bottom below key resistance as price aims to break above.
- UNI closes the week with two bullish candlesticks.
- The price of UNI breaks and holds above 8 and 20 EMA.
Uniswap token (UNI) has had a rough start to the year and has failed to hold key support as the price of Uniswap token (UNI) had a spiral from a high of to the current price of .5 as price aims to break out from its long downtrend movement. The price of UNI has struggled to keep up with Bitcoin’s (BTC) range movement as this has affected most altcoins, including the price of UNI. (Data from Binance)
Uniswap Token (UNI) Price Analysis On The Weekly Chart
The cryptocurrency market hasn’t had the best price movement in recent times, but that doesn’t mean that some crypto assets haven’t shown great strength in bouncing from their lows and breaking out of their downtrends to establish bullish momentum.
Despite showing less price movement in recent weeks, the price of UNI has continued to trade below the key resistance level of .6, preventing a rally to new highs.
UNI’s price fell from a high of to a low of .5 as it bounced off that region, quickly rallying off to a high of , but the price was rejected as it continues to struggle to break out of its price range.
The price of UNI ended the week looking more bullish as bulls pushed the price to break the resistance at .7, setting up a more bullish price movement for the price of UNI ahead of the new week.
The price of UNI must break and hold above .7 in order to rally to a higher region with more bullish sentiments; if the price of UNI is rejected from this region, we may see the price retest a region acting as good support zones.
Weekly resistance for the price of UNI – .7.
Weekly support for the price of UNI – .
Price Analysis Of UNI On The Daily (1D) Chart
Daily UNI Price Chart | Source: UNIUSDT On Tradingview.com
The price of BEL on the daily timeframe continues to look bullish as the price forms a rounded bottom as the price breaks out of the neckline resistance.
The price of UNI trades at .7 as the price attempts to break above the 50 and 200 Exponential Moving Average (EMA). The price at .3 corresponds to the price at 50 and 200 EMA for UNI on the daily timeframe.
The Relative Strength Index for UNI on the daily timeframe is above 45, suggesting less buy volume.
Daily resistance for the UNI price – .7.
Daily support for the UNI price – .
Featured Image From themarketperiodical, Charts From Tradingview
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ApeCoin Breaks Out With Degen Play Activated, Can $7.5 Be The Target?
The price of ApeCoin (APE) has recently struggled against tether (USDT) after seeing its price rejected from .5. Bitcoin’s (BTC) price showed some great strength bouncing off from a low of ,500 to a high of ,000. This movement has affected other altcoins as most cryptocurrencies produce double-digit gains, including ApeCoin (APE). (Data from Binance)
ApeCoin (APE) Price Analysis On The Weekly Chart
The price of APE has had a difficult time replicating its bullish move that saw the price rally to .5 in recent months as the price rallied with a good bullish sentiment.
After falling from an all-time high of .5, APE has struggled to stay afloat as the price fell to a low of . APE price has formed good support at with what looks like an area of interest for buyers and investors.
The price of APE closed the week with indecision between the buyers and sellers; with the new week looking more bullish, this shows strength to recover, and with this momentum from APE, we could see the price revisiting the .5 mark where it will face resistance to trend higher.
The price of APE is faced with resistance as the price of APE is unable to trend higher in price; if APE flips this region, we could see the price going to a region of .5 and even higher.
Weekly resistance for the price of APE – .5.
Weekly support for the price of APE – .5.
Price Analysis Of APE On The Daily (1D) Chart
Daily Price Chart | Source: APEUSDT On Tradingview.com
APE saw its price rejected from .5 as the price fell to a low of ; the price of APE bounced from this after form support to hold off sell orders.
The price of APE rallied from the low of to .1, where it was faced with resistance to breaking above .4.
After forming a bullish symmetric triangle and breaking out from a downtrend line, the price of APE broke out with strong bias as the price could be set at .5. A close of APE above .5 could see the price rally higher after showing bullish movements.
The price of APE trades at .1, trying to break and hold above the 50 Exponential Moving Averages (EMA) on the daily timeframe. The price at .5 corresponds to the 50 EMA acting as resistance to the price of APE.
APE needs to break above the 38.2% Fibonacci retracement value acting as resistance for the price of APE. If APE breaks and closes above this region, we could see the price going to ,5.
Daily resistance for the APE price – .5.
Daily support for the APE price – .
APE Price Analysis On The Four-Hourly (4H) Chart
Four-Hourly Price Chart | Source: APEUSDT On Tradingview.com
The price of APE in the 4H timeframe continues to look bullish after breaking out of a symmetric triangle with bullish signs; the price trades retested below the 200 EMA; flipping the 200 EMA acting as resistance for the APE price would mean more bullish sentiment.
APE price trades above the 50 EMA, with the price corresponding to .7 acting as a support area for the price of APE.
On the 4H chart, the Relative Strength Index (RSI) for APE is below 75, indicating high buy order volume for the APE price.
Four-Hourly resistance for the APE price – .5.
Four-Hourly support for the APE price – .7-.
Featured Image From Capital, Charts From
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