Former U.S. President and presidential candidate Donald Trump has pledged to become “the crypto president” if re-elected. He vowed to terminate the anti-crypto policies introduced by Joe Biden and U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler, emphasizing that their policies “will grind to a halt within one hour of a second Trump administration.” […]
Bitcoin News
XRP Price Rises Within Range: Poised for a Breakout?
XRP price avoided a major downside break as ETH’s surges. The price is back above .5220 and eyeing a key upside break in the near term.
- XRP started a decent increase above the .5150 resistance zone.
- The price is now trading above .5250 and the 100-hourly Simple Moving Average.
- There was a break above a key bearish trend line with resistance at .520 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could correct gains, but the bulls might remain active near the .5180 zone.
XRP Price Recovers
After a drop toward the .5065 support, XRP price started a recovery wave. Recently, Ethereum rallied over 20% and Bitcoin climbed above ,000. It sparked decent bullish moves in XRP.
The price climbed above the .5150 and .520 resistance level. There was a break above a key bearish trend line with resistance at .520 on the hourly chart of the XRP/USD pair. The pair even broke the .5320 resistance and traded as high as .5386.
The price is now correcting gains and might test the 23.6% Fib retracement level of the upward wave from the .5064 swing low to the .5386 high.
It is now trading above .5250 and the 100-hourly Simple Moving Average. Immediate resistance is near the .5380 level. The first key resistance is near .5420. A close above the .5420 resistance zone could send the price higher. The next key resistance is near .5550.
If the bulls push the price above the .5550 resistance level, there could be a fresh move toward the .5650 resistance. Any more gains might send the price toward the .5720 resistance.
Another Decline?
If XRP fails to clear the .5380 resistance zone, it could start a downside correction. Initial support on the downside is near the .5310 level. The next major support is at .5250.
The main support is now near .5220 or the 50% Fib retracement level of the upward wave from the .5064 swing low to the .5386 high. If there is a downside break and a close below the .5220 level, the price might accelerate lower. In the stated case, the price could drop and test the .5065 support in the near term.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – .5310 and .5220.
Major Resistance Levels – .5380 and .5420.
XRP Price Shows Signs of Recovery Within Range: Can it Spark a Rally?
XRP price is attempting a fresh increase above the .5050 resistance. The price could gain bullish momentum if it clears the .520 resistance.
- XRP is eyeing a steady move above the .520 level.
- The price is now trading above .5120 and the 100-hourly Simple Moving Average.
- There was a break above a short-term declining channel with resistance at .5025 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair could start another increase if there is a close above the .520 resistance.
XRP Price Eyes Breakout
Yesterday, we saw how XRP price started a recovery wave, like Bitcoin and Ethereum. The price was able to settle above the .4950 and .50 resistance levels.
There was a break above a short-term declining channel with resistance at .5025 on the hourly chart of the XRP/USD pair. The pair even cleared the .5150 resistance level and settled above the 100-hourly Simple Moving Average.
It traded as high as .5195 and is currently consolidating gains above the 23.6% Fib retracement level of the upward move from the .4980 swing low to the .5195 high. The price is also trading above .5120 and the 100-hourly Simple Moving Average.
Immediate resistance is near the .5185 level. The first key resistance is near .5200. A close above the .5200 resistance zone could send the price higher. The next key resistance is near .5220. If the bulls remain in action above the .5220 resistance level, there could be a rally toward the .5350 resistance. Any more gains might send the price toward the .550 resistance.
Another Decline?
If XRP fails to clear the .520 resistance zone, it could start another decline. Initial support on the downside is near the .5145 level. The next major support is at .5120.
If there is a downside break and a close below the .5120 level, the price might accelerate lower. In the stated case, the price could even drop below the .5050 support zone or the 61.8% Fib retracement level of the upward move from the .4980 swing low to the .5195 high.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.
Major Support Levels – .5120 and .5050.
Major Resistance Levels – .5200 and .5220.
Former Bitmex Chief Expects Bitcoin to Trade Within $60K-$70K Range Until August
Former Bitmex CEO Arthur Hayes predicts bitcoin will range-bound trade between ,000 and ,000 until August. “The slow addition of billions of dollars of liquidity each month will dampen negative price movement from here on out,” Hayes said, adding that he expects “prices to bottom, chop, and begin a slow grind higher.” Arthur Hayes’ Bitcoin […]
Bitcoin News
Crypto.com CEO: Bitcoin Price Dip Likely After Halving but ‘Great Performance’ Within 6 Months
The chief executive of Crypto.com has warned of some selling coming up as we approach the Bitcoin halving, citing the “buy the rumor, sell the news” strategy. Noting that what’s happening in the bitcoin market currently resembles previous cycles, he stressed: “I personally expect great performance within the next six months.” ‘There May Be Some […]
Bitcoin News
Transition from BRC-20 to BRC-420 Tokens Signifies ‘Maturation Within Bitcoin-Based Defi,’ Says Mithil Thakore
While the Bitcoin network is poised to see significant growth in its Layer-2 (L2) ecosystem, “finding an optimal mechanism to maintain finality” on the network remains an inherent limitation that prevents this from happening, Mithil Thakore, the co-founder and CEO of Velar, has said. Thakore also identified the yet-to-be-optimized “bridging of native Layer-1 (L1) assets […]
Bitcoin News
Bitcoin Price Slides Within Range, Can Bulls Protect This Support?
Bitcoin price is moving lower from the ,000 resistance. BTC must stay above the ,000 support to start a fresh increase in the near term.
- Bitcoin price is correcting gains and moving lower from the ,000 zone.
- The price is trading below ,000 and the 100 hourly Simple moving average.
- There was a break below a key bullish trend line with support at ,820 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could revisit the ,000 support zone in the near term.
Bitcoin Price Corrects Lower
Bitcoin price made another attempt to gain strength above the ,500 level. However, there was no clear move above the ,500 level and the price reacted to the downside.
There was a drop below the ,000 and ,500 levels. Besides, there was a break below a key bullish trend line with support at ,820 on the hourly chart of the BTC/USD pair. The pair even declined below the ,000 level. A low is formed near ,403 and the price is now showing a few bearish signs.
Bitcoin is now trading below ,000 and the 100 hourly Simple moving average. Immediate resistance is near the ,000 level or the 50% Fib retracement level of the downward move from the ,043 swing high to the ,403 low.
Source: BTCUSD on TradingView.com
The next key resistance could be ,500 or the 61.8% Fib retracement level of the downward move from the ,043 swing high to the ,403 low, above which the price could rise toward the ,000 resistance zone. If there is a clear move above the ,000 resistance zone, the price could even attempt a move above the ,000 resistance zone. Any more gains might send the price toward the ,000 level.
More Losses In BTC?
If Bitcoin fails to rise above the ,500 resistance zone, it could continue to move down. Immediate support on the downside is near the ,500 level.
The first major support is ,500. The main support sits at ,000. If there is a close below ,000, the price could start a decent pullback toward the ,500 level. Any more losses might send the price toward the ,000 support zone.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – ,500, followed by ,000.
Major Resistance Levels – ,500, ,000, and ,000.
JPMorgan Says ‘Unrealistic’ to Expect Bitcoin to Match Gold Within Investors’ Portfolios
JPMorgan says the argument that bitcoin’s market cap would rise to .3 trillion if it matched gold in portfolios, implying more than doubling in price, overlooks risk. “It would be unrealistic to expect bitcoin to match gold within investors’ portfolios in notional amounts,” a JPMorgan strategist stressed, adding: “Most investors take risk and volatility into […]
Bitcoin News
Bitcoin Rally: Crypto Analyst Says New Peak Is Within Arms’ Reach
With the price movement of Bitcoin becoming less volatile and the markets becoming unstable once more, some people think a crash is imminent for BTC, while some believe and anticipate a potential for further upward surge.
New All-Time High For Bitcoin Is Within An Arms Reach
In a recent development on the social media platform X (formerly Twitter), Cryptocurrency analyst and investor, Crypto Jelle, has shared a bold prediction regarding Bitcoin – the leading crypto asset.
The crypto expert’s analysis came in light of the bearish speculations within the community around the price action of BTC. According to him, many people are discussing the bearish signs, pullbacks, and corrections that BTC could witness in the near future.
However, Crypto Jelle has asserted that despite the negative sentiments it “does not change anything about the bigger picture” for BTC. Furthermore, he has urged investors to “stick to the plan,” noting that a new all-time high is just “within arms reach.”
The post read:
Lots of people talking about bearish signs, pullbacks, and corrections, but these things change nothing about the bigger picture. Stick to the plan, all-time highs are within an arms reach.
Jelle has also highlighted another reason why he is bullish on Bitcoin and sticking with the digital asset. In another X post, Jelle stated that BTC is still holding above ,000, with the entire crypto market cap approaching trillion.
Nonetheless, the “average Joe still does not care,” prompting him to believe that “the cycle is not over” yet. He further pointed out that there will be lucid indications that retail is about to flood the market.
As a result of this, Bitcoin is set to witness higher adoption as search interest for BTC will surge higher. Jelle anticipates that during this time, American-based crypto exchange Coinbase will return to its top spot in the app store.
BTC Compared To Warren Buffett’s Berkshire Hathaway Stock
Lately, a lot of market experts have appeared to be bullish about Bitcoin. One of these is Max Keiser, a BTC advocate, who has compared the crypto asset to the well-known Warren Buffett’s Berkshire Hathaway Stock.
According to Max Keiser, acquiring BTC today is just like buying Berkshire Hathaway shares in its initial days. It is noteworthy that during its earlier days, the stocks were sold for ,500 each, which is now being sold for 8,000. With this comparison, Keiser advocates that BTC could potentially rise by over 41,000% at its present price of ,000.
This price of Bitcoin is down by over 2% in the past 7 days, currently trading at ,147. CoinMarketCap’s data shows that its market cap is down by 0.86%, while its trading volume is up by over 6%.
EchoLink’s Launchpad on LBank Witnesses Over 763% Surge within the First 30 Minutes
PRESS RELEASE. LBank’s latest Launchpad project, EchoLink, has sparked significant excitement in the cryptocurrency market with its initial trading on LBank today. EchoLink began trading on January 26, 2024, at a price of .01, and astonishingly, within just the first 30 minutes, its price surged to .0763. This represents an incredible 763% increase from its Launchpad starting price.
The Launchpad drew the attention of up to 74,164 participants, accumulating investments over 130 million US dollars. EchoLink’s innovation marks a significant advancement in the Web3 sphere, especially in the DePIN IoT device sector. This Launchpad has once again yielded substantial profits for early investors, highlighting the importance of understanding both this Launchpad event and the EchoLink project. EchoLink, tailored as an IoT oracle for DePIN IoT devices and deployed on Solana, has become today’s highlight in the crypto community.
Launchpad Pricing Details
On January 17, 2024, LBank initiated a subscription quota to facilitate equitable participation for every investor. This Launchpad is topped with a hard cap, and participants who reached the maximum allowed subscription invested 50,000 EchoLink tokens.
Tokenomics and Use Cases
The total initial supply of EchoLink tokens is set at 1 billion, with a distribution strategy that includes allocations for IEO, marketing, team, ecosystem operation, and more. EchoLink tokens are used for various purposes, including governance, staking, and accessing advanced features within the EchoLink ecosystem.
Launchpad Mechanics
The EchoLink Launchpad on LBank was characterized by its well-designed participation rules, ensuring fair and equitable access. Over the 7-day period from January 17 to January 24, 2024, LBank meticulously monitored user balances across various accounts, establishing investment quotas based on these averages. The eligibility criteria required users to engage in at least one trade on LBank during this period.
About EchoLink
EchoLink is an innovative DePIN-oriented IoT oracle deployed on Solana, tailored for the burgeoning world of DePIN IoT devices. It offers a comprehensive toolkit – a fusion of software SDK and hardware design – aimed at becoming the infrastructure for more DePIN projects.
About LBank
As a prominent cryptocurrency exchange, LBank has positioned itself as a reliable and innovative platform catering to the diverse needs of traders and investors globally. Renowned for its commitment to excellence, transparency, and user-centric features, LBank continues to shape the landscape of digital asset exchange. From fostering seamless transactions to staying at the forefront of market trends, LBank stands as a trusted gateway to the dynamic world of cryptocurrencies, providing users with unparalleled opportunities and a secure trading environment.
For media inquiries, please contact:
Eddy Wang
PR Manager, LBank
Email: eddy.wang@lbank.com
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.