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XRP price continues to slowly form a bullish pennant chart pattern as expectations of the Securities and Exchange Commission approving a Ripple ETF rise. Ripple XRP XRP 1.93% XRP price was trading at $2.2 after falling 25% from its highest point this year, meaning it remains in a bear market. One of the biggest XRP catalysts is the rising optimism that the SEC will approve a spot Ripple ETF in 2025. Companies like Bitwise, Canary Capital, 21Shares, and WisdomTree have already submitted their XRP ETF proposals. There are rising odds that other companies like Fidelity, Blackrock, and Ark Invest will file their XRP ETFs because of its scale and their success in Bitcoin and Ether ETFs. Blackrock has accumulated over $52 billion in Bitcoin (BTC) and $3.54 billion in Ethereum (ETH) funds. If this happens, the XRP price could surge, as we saw with Bitcoin and Ethereum ETFs earlier this year. The hopes for a Ripple ETF rose after Donald Trump won the general election in November. He has already nominated Paul Atkins to be the next SEC chair, a move that will introduce major regulatory changes. Analysts expect a few major ETF approvals in 2024. The XRP price will likely do well as the XRP Ledger and the RLUSD stablecoin continue to gain market share. According to CoinMarketCap, the RLUSD has gained over $53 million in market cap a few weeks after launch. XRP price forecast:$XRP Ripple price peaked at $2.90 in December and has retreated by 25% from its highest point this year. It has remained above the 50-day and 100-day Exponential Moving Averages, a sign that the uptrend is continuing. Most importantly, the XRP price is in a consolidation mode and is forming a bullish pennant pattern. This pattern, which can take a few days or weeks to form, comprises a vertical line, a flag pole, and a symmetrical triangle. It will be confirmed that the ripple’s pennant remains inside the two triangle sides. Therefore, the XRP token will likely have a strong bullish breakout in the next few weeks as ETF odds rise. If this happens, the next key level to watch will be at $2.90, the highest point this year, which is about 35% above the current level. A surge above that price will push it to $3 and potentially to $5 .

If you haven’t already heard of Bitcoin, you either haven’t been paying attention or you’re a time traveller who just touched down in 2018. Because by now, most of us will have heard of Bitcoin and some of us have even jumped on the bandwagon, investing in cryptocurrencies. But despite its popularity, many people still don’t understand the technology that underlines it: blockchain. In very simple terms, blockchain technology is an open access shared ledger that keeps a record of all the transactions between parties and allows all users to agree on its contents. New information is added in blocks linked to the previous blocks, resulting in a chain of blocks being built. This ledger is verified by “miners” to make sure it’s true – and so creating an audit trail. Past records can be viewed but not altered without the consent of the majority. And it is this technology that is behind cryptocurrencies such as Bitcoin – the value of which rose almost 1400% in the past year, but has at times, also fallen massively too. Crypto is here to stay It can certainly be anticipated that this evolutionary technology is set to spark a huge revolution in the business world. It’s already being trialled at governmental level, from the Sweden Land Registry, to the Big Four accountancy firm such as E&Y – who accept Bitcoin as payment for its consultancy services. The Australian Securities Exchange is also considering the use of blockchain technology to replace the current clearing and settlement system of share trading. And even the Bank of England is planning its own Bitcoin-style virtual currency. Listen to The Conversation’s Anthill podcast episode: Bursting the Bitcoin bubble

XRP has registered a price drop over the past week – A bad sign for investors. Will this latest drop restrict the token from competing with top coins like Bitcoin [BTC] and Ethereum [ETH]? How is XRP affected? CoinMarketCap’s data revealed that XRP was down by more than 6% in the last seven days. At the time of writing, the altcoin was trading at $2.15 with a market capitalization of over $123 billion, making it the 4th largest crypto. Here, it seemed interesting to note that despite the price decline, market sentiment around the token had improved. XRP’s weighted sentiment registered an uptick over the past few days, meaning that bullish sentiment around the token rose. However, its social volume declined—A sign of XRP’s dropping popularity in the crypto market. EGRAG CRYPTO’s tweet also mentioned that the VRVP showed a void above 4.30%, meaning less resistance and a smoother road to an all-time high (ATH) and beyond. The KABOOM Green Zone starts at Fib 0.50, signaling a big move ahead! AMBCrypto then assessed the token’s on-chain data to find out whether the token can dominate the top cryptos in the coming days. As per our analysis, after a sharp dip, the token’s MVRV ratio registered a slight uptick. An increase in the metric indicates that the market cap is growing faster than the realized cap. This means that there is a greater incentive for people to sell in the market. However, not everything was working in the token’s favor. For instance, the token’s daily active addresses dropped last week, signaling declining network activity. This fact was further proven by XRP’s declining network growth—Meaning that fewer addresses were created to transfer the token in a set time frame. The possibility of XRP dominating BTC and ETH seemed thin as technical indicators were also in the bears’ favor. Finally, the MACD flashed a bearish upper hand in the market. The Chaikin Money Flow (CMF) also registered a downtick, indicating a rise in selling pressure, which can push the token’s price further down the charts. $XRP

What’s Happening in Crypto Today? Daily Crypto News Digest Crypto Market Declines The global cryptocurrency market capitalization stands at $3.5 trillion, reflecting a slight 0.3% decrease over the past 24 hours. Daily trading volume in the cryptocurrency market is approximately $158.07 billion at the time of writing. Among the top cryptocurrencies, Bitcoin (BTC) is trading at $96,437.54, showing a marginal 0.8% increase over the past day and a 2.3% gain over the last week. Ethereum (ETH) is priced at $3,400.98, reflecting a 0.8% daily rise and a 6.7% increase in the past seven days. XRP (XRP) is trading at $2.19, up 0.3% in the last 24 hours and gaining 6.4% weekly, while Solana (SOL) has seen a slight daily uptick of 0.7%, currently priced at $190.72. Dogecoin (DOGE) also rose 0.7% in the last 24 hours and has increased 12.2% over the week, with a price of $0.3197. Meanwhile, BNB (BNB) is priced at $704.41, reflecting a 1.1% daily gain and an 11% rise over the past seven days. Stablecoins like USDC remain pegged to $1.00, maintaining stability as expected. Some lesser-known tokens have demonstrated remarkable gains. For instance, aixCB by Virtuals has surged by 142.9%, and SafeMoon has risen by 104% in the last 24 hours. Music by Virtuals has also climbed 83.1%. Trending cryptocurrencies include Bitget Token, which gained 20.1% in the past day, while Tema and Pudgy Penguins have experienced slight dips of 7.2% and 11.5%, respectively. Ethereum Whale Awakens After 9.5 Years, Moves Millions In crypto news today, an Ethereum whale has resurfaced after remaining dormant for 9.5 years since the Ethereum ICO. The trader initially invested just $600 during the Genesis phase, receiving 1,940 $ETH in return.

XRP has registered a price drop over the past week – A bad sign for investors. Will this latest drop restrict the token from competing with top coins like Bitcoin [BTC] and Ethereum [ETH]? How is XRP affected? CoinMarketCap’s data revealed that XRP was down by more than 6% in the last seven days. At the time of writing, the altcoin was trading at $2.15 with a market capitalization of over $123 billion, making it the 4th largest crypto. Here, it seemed interesting to note that despite the price decline, market sentiment around the token had improved. XRP’s weighted sentiment registered an uptick over the past few days, meaning that bullish sentiment around the token rose. However, its social volume declined—A sign of XRP’s dropping popularity in the crypto market. EGRAG CRYPTO’s tweet also mentioned that the VRVP showed a void above 4.30%, meaning less resistance and a smoother road to an all-time high (ATH) and beyond. The KABOOM Green Zone starts at Fib 0.50, signaling a big move ahead! AMBCrypto then assessed the token’s on-chain data to find out whether the token can dominate the top cryptos in the coming days. As per our analysis, after a sharp dip, the token’s MVRV ratio registered a slight uptick. An increase in the metric indicates that the market cap is growing faster than the realized cap. This means that there is a greater incentive for people to sell in the market. However, not everything was working in the token’s favor. For instance, the token’s daily active addresses dropped last week, signaling declining network activity. This fact was further proven by XRP’s declining network growth—Meaning that fewer addresses were created to transfer the token in a set time frame. The possibility of XRP dominating BTC and ETH seemed thin as technical indicators were also in the bears’ favor. Finally, the MACD flashed a bearish upper hand in the market. The Chaikin Money Flow (CMF) also registered a downtick, indicating a rise in selling pressure, which can push the token’s price further down the charts. $XRP