Daily Crypto Signals: Bitcoin Stalls Under $97,000 While XRP Faces Potential 30% Drop
The cryptocurrency market shows mixed signals as Bitcoin (BTC) continues its sideways trading pattern around $96,948, while XRP struggles to maintain support at $2.71, risking a potential decline to $1.70. These developments come amid increased institutional interest and regulatory shifts in the crypto market.
Despite large institutional flows, the price motion of Bitcoin stays limited inside a narrow trading range between $93,300 and $98,500. Altcoins exhibit different results as well; Litecoin (LTC) stands out as a major outperformer, jumping 10% after the SEC accepted a third place LTC ETF filing.
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| 🥇 |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| 🥈 |  | Read Review | FSCA, FSC, ASIC, CySEC, DFSA | USD 5 | Visit Broker |
| 🥉 |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
Crypto Market Developments
Apparently, the SEC is giving the delay of cryptocurrency enforcement actions with approaching deadlines top priority, therefore influencing current lawsuits against big crypto companies. Following Senate confirmation with a 52-45 vote, self-described crypto enthusiast Howard Lutnick takes on the position of commerce secretary marks this change in regulations.
Bitcoin Consolidating Under $97,000
The present period of consolidation of Bitcoin BTC/USD has caused manipulation issues among market experts. Jan3’s CEO, Samson Mow, notes the unusual steadiness despite significant institutional investment and characterizes the price movement as “very manufactured.” Technical indicators, especially the Bollinger Bands, point to an approaching breach from the current range; the indicator shows the tightest squeeze since Bitcoin traded at $68,000 in November 2024.
Ethereum Faces Resistance at $2,850
With just 6.38% of ETH left on exchanges, Ethereum ETH/USD displays resiliency as trade supply hits historical lows. Although the asset now trades around $2,730 with instant resistance at $2,850, this drop in selling pressure should help long-term price stability.
XRP Flashes Bear Flag Pattern, Risks 30% Decline
After losing its 50-day simple moving average support at $2.61, XRP XRP/USD confronts notable technical pressure. Technical study exposes a worrying bear flag pattern, implying a possible 32% drop to $1.73 should present support levels fall short. Reclaiming the 50-day SMA will help the asset avoid more significant corrections.
Litecoin Gains Over 18% in a Week
Rising with an 18.4% weekly gain and reaching $134.95, Litecoin LTC/USD stands out as a market leader. The third such proposal under consideration is the rise following the SEC’s acceptance of CoinShares’ spot Litecoin ETF application. Rising trader interest is shown by open interest in Litecoin futures at a four-year high of $758.9 million.
Top Altcoins to Watch
- Solana SOL/USD: Testing critical support at $175 with potential for further correction to $155
- BNB BNB/USD: Showing resilience at $635 support with possible consolidation between $635-$745
- Cardano ADA/USD: Trading near the support line of its descending channel at $0.7793
- Chainlink LINK/USD: Facing resistance at $19.25 with immediate support at $17
- Stellar XLM/USD: Forming a descending triangle pattern with crucial support at $0.31
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top Broker