The weekend passed with fake push-ups and dumping on Monday opening. More downs are still in play!
BTC is still trading in no man’s land, grabbing liquidity over $27,200, then dropping hard to $26,600. The price still could drop to lower targets at $25,200, and we are expecting a bigger push.
ETH is fighting with $1,920, still showing strong resistance, and now $1,850 needs to hold before the next push-up. It is still in danger before a bigger push-up.
XRP shows bullish momentum and is pushing strongly into $0.54 as a big resistance. It is looking good for the next leg up if it holds above $0.5.
LINK dropped below the $6.45 support level, signaling a bearish sentiment for a potential further push down to the $6 target. However, it remains a good opportunity for a spot-long position.
SOL is showing bullish momentum, hitting $22, and now showing strength before the next push-up. Big support at $21 needs to hold for the next push-up.
EOS is now at a breaking point to make a big push-up to $0.95 or start the next leg down. It is looking good for a bigger push-up if $0.89 holds
LTC is dropping to support at $90 and showing a slowdown in momentum before the next bullish breakout. In 50 days, there will be a halving event in LTC, which suggests a considerable price increase due to the reduction in the mining supply. This presents a great investment opportunity to hold!
DXY – the US dollar is showing strength and pushing high for the next leg up, and 104.3 needs to hold for the next leg up.
Crypto/stock daily news:
XRP LAUNCHED 11 YEARS AGO
Pssst! It’s a certain someone’s birthday…
At the ripe old age of 11 is… XRP. AKA the 6th largest cryptocurrency by market cap created by Ripple’s founders.
Meanwhile, I ate too much cake and vomited in the bouncy house on my 11th birthday.
To celebrate, let’s go down memory lane – and see where XRP’s headed.
1. XRP was created before its founders built Ripple
The two are technically separate from each other. Ripple just holds most of XRP’s 100B supply (the founders hold the rest.)
Ripple’s known for cross-border payments. Banks like BoA & Santander use its RippleNet (realtime platform) for that.
It’s built on XRP Ledger, the blockchain that the XRP token is native on.
Oh and Ripple was co-founded by the same guy that created Mt. Gox. #UltraFunFact
2. Critics have called the XRP network not truly decentralized because:
• Only an approved ~1,500 people validate transactions. Versus anyone being able to validate on Bitcoin, etc.
• XRP tokens haven’t been created since 2012. Ripple’s founders hold the power to release some into circulation every month to keep the supply stable.
3. XRP’s price peaked at $3.84 after the 2017 crypto bull run.
Then the 2018 bear market dragged it down, and…
4. The SEC sued Ripple in 2020.
It said founders were illegally offering XRP as an unregistered security. Exchanges like Coinbase delisted the coin.
So what will its 12th year look like? Well, the SEC/Ripple lawsuit is due to wrap up this month… and Ripple’s expected to win.
That prediction has already been driving XRP’s price up in the last few months.
You know what that means! We’re hittin Vegas for the next birthday, baby.
Fast news:
A crypto founder was found dead this week. John Forsyth founded ONFO coin and had been missing for a week.
The OpenAI CTO’s Twitter account was hacked to promote a fraudulent crypto token. So was Fortnite’s official Twitter account. C’mon Elon…
Nike’s dot swoosh is teaming up with Electronic Arts sports. We’re HERE for that Web3 gaming interoperability.
Circle’s launching a native USDC on Arbitrum next week. It’ll make it a lot faster to trade.
