Finder’s Experts Expect XRP to Spike to $3.81 by 2025 if Ripple Wins SEC Lawsuit

October 14, 2022 Bitcoin.com

XRP price risks 30% decline despite Ripple’s legal win prospects

September 19, 2022 Coin Telegraph

Altcoin

The Federal Reserve's rate hike spree will likely spoil XRP's most bullish fundamentals in years.

XRP pricewas wobbling between profits and losses on Sep. 19 despite hopes that Ripple would eventually win its long-running legal battle against the U.S. Securities and Exchange Commission (SEC).

Ripple and the SEC both agreed to expedite the lawsuit on Friday to get an answer on whether $XRP is a security or not.

From the updates of the case, it sounds like it’s in the favor of @Ripple pic.twitter.com/SAyl4VLxdM
— Jeff Sekinger (@JeffSekinger) September 19, 2022

Fed spoils SEC vs. Ripple euphoria

The XRP/USD pair dropped by over 1% to $0.35 while forming extremely sharp bullish and bearish wicks on its Sep. 19 daily candlestick. In other words, its intraday performance hinted at a growing bias conflict among traders.

*XRP/USD daily price chart. Source: TradingView*

The indecisiveness could be due to XRP's exposure to catalysts other than the SEC vs. Ripple lawsuit. Namely, the Federal Reserve's potential to increase its benchmark interest rates by another 75 or 100 basis points in their policy meeting on Sep. 20.

As Cointelegraph reported, fears of aggressive rate hikes have pressured the crypto market lower throughout the year, including Bitcoin (BTC) and Ether (ETH). XRP is also not immune, given the token's consistently positive correlation with Bitcoin since October 2021.

*XRP/USD and BTC/USD daily correlation coefficient. Source: TradingView*

For instance, XRP's daily correlation coefficient with Bitcoin on Sep. 19 was 0.47. A reading of 1 means that the two assets move in lockstep.

XRP price in danger of going under $0.25 in Q4

Independent market analyst Cheds highlighted that XRP has been fluctuating inside a rectangular range since June, adding that "there's nothing to be excited about" at present.

The range is defined by $0.38-$0.40 acting as resistance and $0.28-$0.30 acting as support. XRP's price dropped after testing the resistance and, as of Sep. 19, was heading toward the support area, as shown below.

*XRP/USD daily price chart featuring head-and-shoulders setup. Source: TradingView*

Interestingly, a move toward the rectangular range support could also trigger a classic bearish reversal pattern called the head-and-shoulders, defined by three consecutive peaks forming atop a common support level, with the middle peak (head) higher than the other two (left and right shoulders).

A head-and-shoulders pattern resolves after the price breaks below its support line and falls by as much as the maximum distance between the middle peak and the support. Applying this theory to XRP's daily chart presents $0.242 as the downside target.

In other words, XRP price could lose another 30% by the end of this year, driven primarily by macro catalysts.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

XRP price pumps and dumps amid mysterious $51M whale transfers — what’s next?

August 26, 2022 Coin Telegraph

<div>XRP price pumps and dumps amid mysterious M whale transfers — what's next?</div>

Bitso

XRP risks declining further in the coming weeks despite its eye-grabbing intraday price moves.

XRP price saw a major spike on Aug. 26, hinting at a possible effect from some big traders.

Large XRP transfers, Ripple Swell Global event

Notably, XRP's price jumped 6% to $0.37, a two-week high, during the early London hours. The token's upside move occurred hours after its network processed three massive transfers worth $51 million involving crypto exchanges Bitso and FTX, as highlighted by Whale Alert.

*XRP/USD hourly price chart. Source: TradingView*

XRP's gains also came as a part of a broader upside move that started on Aug. 25, a day after Ripple announced its flagship event, "Ripple Swell Global," to be held in London in November 2022. The market has seen similar reactions around the Swell event in the past.

Bearish reversal setup in play

XRP's intraday spike left behind a "Graveyard Doji," a bearish reversal candlestick with open, close and low prices near each other with a long upper wick. This candlestick suggests that the price rally witnessed at the beginning of the session was overwhelmed by bears by the end of it.

*XRP/USD four-hour price chart. Source: TradingView*

XRP now trades nearly 4% below its intraday high, testing a support confluence. The confluence comprises the upper trendline of XRP's previous "ascending triangle" (at $0.35) and the 50-4H exponential moving average (50-4H EMA; the red wave in the chart above) near $0.343.

From a technical perspective, a break below the support confluence risks re-triggering the ascending triangle setup, with its profit target at around $0.33. In other words, a 7% price decline by September when measured from today's price.

Conversely, a rebound after testing the support confluence could have XRP eye a recovery rally toward the $0.36-$0.38 range (marked in red in the chart above). This area served as XRP's consolidation range in recent months.

XRP price rally stalls near key level that last time triggered a 65% crash

June 24, 2022 Coin Telegraph

Altcoin

Macro risks and a long-term bearish setup continue to spoil XRP's bullish prospects.

XRP's ongoing upside retracement risks exhaustion as its price tests a resistance level with a history of triggering a 65% price crash.

XRP price rebounds 30%

XRP's price gained nearly 30%, rising to $0.36 on June 24, four days after rebounding from $0.28, its lowest level since January 2021.

The token's retracement rally could extend to $0.41 next, according to its "cup-and-handle" pattern shown in the chart below.

*XRP/USD four-hour price chart featuring "cup and handle" pattern. Source: TradingView*

Interestingly, the indicator's profit target is the same as XRP's 50-day exponential moving average (50-day EMA; the red wave).

*XRP/USD daily price chart featuring 50-day EMA upside target. Source: TradingView*

Major resistance hurdle

The cup-and-handle bullish reversal setup tends to meet its profit target at a 61% success rate, according to veteran analyst Thomas Bulkowski.

But it appears XRP's case falls in the 39% failure spectrum because of a conflicting technical signal presented by its 200-4H exponential moving average (EMA).

XRP's 200-4H EMA (the blue wave in the chart below) has previously served as a strong distribution signal. Notably, in April 2022, the token attempted to break above the said wave resistance multiple times, only to face rejections on each try; it fell 65% to $0.28 later.

*XRP/USD four-hour price chart featuring 200-4H EMA resistance. Source: TradingView*

The ongoing cup-and-handle breakout has stalled midway after XRP retested the 200-4H EMA as resistance on June 23. Now, the token awaits further bias confirmation while risking a price decline similar to what transpired after April.

XRP's overbought relative strength index (RSI), now above 70, also raises the possibility of an interim price correction.

XRP LTF breakdown underway

The downside scenario on XRP's shorter-timeframe chart comes in line with giant bearish setups on its longer-timeframe chart.

As Cointelegraph covered earlier, XRP has entered a breakdown stage after exiting its "descending triangle" structure in early May.

As a rule of technical analysis, its triangle breakdown should have it fall by as much as the structure's maximum height, which puts its downside target near $1.86.

*XRP/USD weekly price chart featuring 'descending triangle' setup. Source: TradingView*

In other words, another 50% price drop for XRP could happen by the end of July this year.

50,000,000 #XRP (16,249,045 USD) transferred from Ripple to unknown wallethttps://t.co/FalGAzxNxg
— Whale Alert (@whale_alert) June 23, 2022

Macro risks led by the Federal Reserve's hawkish policy further strengthen XRP's bearish bias. The XRP/USD pair has typically traded lower in tandem with riskier assets in 2022, with a correlation coefficient with the Nasdaq Composite sitting at 0.90 as of June 24.

*XRP/USD weekly correlation with Nasdaq. Source: TradingView*

A score of 1 means that the two assets moves in perfect sync.

Conversely, anticipations that Ripple would win the lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for "allegedly" selling unregistered securities could negate the bearish setups.

I’ve stated for over a year that many @Ripple and #XRP supporters underestimate the negative impact the SEC lawsuit has had. B/c Ripple has done well outside the U.S. and is hiring, etc., people say otherwise. But XRP must be deemed a non-security in the US to fulfill its promise https://t.co/oBmiTQOWfJ
— John E Deaton (203K Followers Beware Imposters) (@JohnEDeaton1) June 22, 2022

That being said, XRP could rebound toward $0.91 by the end of this year if the ongoing retracement continues any further. Interestingly, the token has bounced after testing long-term ascending trendline support, as shown below.

*XRP/USD weekly price chart. Source: TradingView*

The bounce has also followed XRP's weekly relative strength index (RSI) decline below 30 — an oversold threshold, which signals a potential buying opportunity.

3 reasons why XRP price could drop 25%-30% in March

March 13, 2022 Coin Telegraph

Altcoin

A combination of technical, fundamental, and social sentiment indicators spell downside risks for XRP after its price rises over 8% week-to-date.

XRP price risks dropping by more than 25% in the coming weeks due to a multi-month bearish setup and fears surrounding excessive XRP supply.

XRP descending triangle

XRP has been consolidating inside a descending triangle pattern since topping out at its second-highest level to date — near $1.98 — in April 2021.

In doing so, the XRP/USD pair has left behind a sequence of lower highs on its upper trendline while finding a solid support level around $0.55, as shown in the chart below.

*XRP/USD weekly candle price chart. Source: TradingView*

In the week ending March 13, XRP's price again tested the triangle's upper trendline as resistance, raising alarms that the coin could undergo another pullback move to the pattern's support trendline near $0.55, amounting to a drop between 25% and 30%.

The downside outlook also takes cues from other bearish catalysts that has emerged around the triangle resistance.

For instance, XRP formed a bearish hammer on March 12, a single candlestick pattern with a small body and a long upside wick, suggesting lower buying pressure near the coin's week-to-date top of around $0.85.

*XRP/USD daily price chart featuring bearish hammer. Source: TradingView*

Additionally, the price turned lower after testing a confluence of resistances defined by its 20-week exponential moving average (20-week EMA; the green wave) and its 50-week EMA (the red wave), as shown in the attached image below.

*XRP/USD weekly candle price chart with moving average resistances. Source: TradingView*

Excessive supply FUD

More downside cues for XRP come after Ripple Labs locked 800 million XRP in escrow as a part of its programmed schedule for withdrawals.

The blockchain payment company moved around 100 million XRP worth nearly $40 million to exchange wallets on March 3. Meanwhile, it kept the other 700 million XRP (worth around $550 million) in an escrow account, raising anticipations that at least 200 million XRP would be flooded into the market to generate funds for Ripple's operational expenses, as well as to distribute XRP among Ripple's global clientele.

Meanwhile, it kept the other 700 million XRP (worth around $550 million) in an escrow account, raising anticipations that at least 200 million XRP would enter the market to generate funds for Ripple's operational expenses, as well as to distribute XRP among Ripple's global clientele.

I understood there are some 800 million $XRP that are locked up and ready to be sold...someone should check the increase in circulating supply to verify this
— Shyan (@tayshyan) March 12, 2022

The selloff fears originated from the XRP price's earlier response to unexpected supply hikes. For instance, XRP/USD fell by more than 50% to near $0.60 four months after its net supply in circulation increased from 40.46 billion to over 47 billion in just two days.

*XRP circulating supply. Source: Messari*

Nonetheless, Ripple's withdrawal of 800 million XRP has not yet been reflected in its net circulating supply.

Profit-taking risks mount

Another catalyst that hints XRP's price could fall 25-30% to reach its descending triangle target is a Santiment indicator that tracks social media trends and their impact on market trends.

*XRP price versus $XRPNetwork trend. Source: Santiment*

XRP's price rose by over 15% week-to-date on March 12, notes Santiment, alongside a large spike in social media searches for the hashtag #XRPNetwork, suggesting that it could follow up with a potential selloff ahead. Excerpts:

"Historically, our social trends indicate that profit-taking is justified whenever the crowd makes the #XRPNetwork a top topic."

XRP ‘mega whales’ scoop up over $700M in second-biggest accumulation spree in history

February 18, 2022 Coin Telegraph

<div>XRP 'mega whales' scoop up over 0M in second-biggest accumulation spree in history</div>

Altcoin Analysis

The so-called "mega whales" have accumulated over $712 million worth of XRP tokens since December 2021.

XRP addresses that hold at least 10 million native units have returned to accumulating more in the past three months, a similar scenario that preceded a big rally for the XRP/USD and XRP/BTC pairs in late 2020.

The return of XRP 'mega whales'

A 76% spike in XRP "mega whale" addresses since December 2021 has been noted by analytics firm Santiment showing that they added a total of 897 million tokens, worth over $712 million today, to their reserves.

The platform further highlighted that the XRP accumulation witnessed in the last three months was the second-largest in the coin's existence. The first massive accumulation took place in November-December 2020 that saw whales depositing a total of 1.29 billion XRP to their addresses.

*XRP supply into addresses holding more than 10 million native units. Source: Santiment*

Interestingly. the spike in XRP supply into the whale addresses coincided with a price bounce against Bitcoin. The XRP/BTC exchange rate surged by nearly 150% to as high as 3,502 satoshis between Nov. 1, 2020, and Nov. 24, 2020.

XRP also strengthened against the dollar as with XRP/USD rallies by more than 250% to $0.82 in the same November period. As a result, the recent uptick in whales-led accumulation raised possibilities of a similar upside trend in the XRP market, Santiment hinted.

Nonetheless, it is vital to mention that XRP's massive boom in November 2020 came primarily in the wake of Ripple's move to purchase $46 million worth of XRP to "support healthy markets."

XRP price holding rebound gains

The recent bout of XRP accumulation among whales partially appeared alongside a recovery over the past weeks.

XRP's price rebounded by as much as 65% to $0.91, less than three weeks after bottoming out at $0.55 on Jan. 22, 2022. Nonetheless, as of Friday, the price had fallen back to near $0.77, suggesting that bulls reeled under the pressure of the 50-week exponential moving average (50-week EMA; the red wave in the chart below).

Cointelegraph discussed a similar pullback setup in its analysis last week, suggesting that a selloff near the 50-week EMA could trigger an extended downside move toward the 200-week EMA (the blue wave) near $0.54.

Conversely, the setup also indicated that a decisive move above 50-day EMA might push the price to its multi-month descending trendline resistance near $1.

The price action on shorter-timeframe charts also suggests an imminent rally toward $1. For instance, XRP has been forming what appears to be a bull pennant setup on a four-hour chart, confirmed by an ongoing consolidation in a symmetrical triangle.

*XRP/USD four-hour chart featuring bull pennant setup. Source: TradingView*

A basic rule of the bull pennant setup is that it prompts the price to go higher once it decisively breaks above the structure's upper trendline, and thus eyeing levels above $1.

Can XRP price reach $1 after 25% gains in one week? Watch this key support level

February 13, 2022 Coin Telegraph

Can XRP price reach after 25% gains in one week? Watch this key support level

Buy Ripple

A fractal from 2018-2019 repeating could spell trouble for XRP's long-term upside outlook, however.

XRP price has continued to bounce back after falling by more than 70% in a correction between April 2021 and January 2022.

Why the XRP/USD 50-week EMA is key

On Feb. 13, XRP/USD reached as high as $0.916, above its 50-week exponential moving average (50-week EMA; the red wave) around $0.833. The upside move, albeit not decisive, opened possibilities for further bullish momentum, mainly owing to a historical buying sentiment around the said wave.

*XRP/USD weekly price chart featuring 50-week EMA. Source: TradingView*

For instance, traders had successfully reclaimed the 50-week EMA as support in the week ending July 27, 2020, more than a year after flipping the wave as resistance. Later, XRP's price rallied by more than 820% to $1.98 in April 2021, its best level in more than three years.

Conversely, during the bearish cycles between 2018 and 2020, XRP's 50-week EMA acted as a strong resistance level on multiple occasions. That showed the wave's ability to withstand bullish recovery sentiments, such as the one witnessed during the current price rebound.

Can XRP retake $1?

XRP now needs to hold decisively above its 50-week EMA, which could have it reclaim $1 in the sessions ahead.

The level, which sits around 25% above the current price levels, coincides with XRP's two key resistance targets. The first is the multi-month downward sloping trendline that has been capping the token's upside bias since April 2021

*XRP/USD weekly price chart featuring upside target. Source: TradingView*

Meanwhile, the second target is the 0.382 Fib line of the Fibonacci retracement level drawn between $2.70-swing high and $0.10-swing low, also having a history of limiting XRP's strong trends by acting as both support and resistance.

Still a lower high, the $1-level does not promise to take XRP out of its correction bias. Instead, it may bring opportunities for traders to secure their interim profits, thus exposing XRP to a pullback toward an imminent support target near $0.71, as per the Fibonacci retracement graph.

The bears' case

Conversely, failure to obtain a decisive close above the 50-week EMA resistance could have XRP eye a pullback toward its 200-week EMA (the blue wave) near $0.54.

This move risks trapping the price inside a range defined by 50-week EMA as resistance and 200-week EMA as support, which may result in a further breakout to the downside. The bearish outlook appears out of a fractal from June 2018-June 2019 session, as shown in the chart below.

Notably, XRP's run-up to its record high of $3.55 in January 2018 coincided with its weekly relative strength index (RSI), forming a lower high, thus confirming a bearish divergence.

Later, the price declined below its 50-week EMA but picked support from its 200-week EMA. The RSI's fall also exhausted near 37, just above its oversold reading of 30.

XRP trended sideways inside the said moving average range, while the RSI maintained a reading above 37. Nonetheless, in June 2019, the price broke below the 200-day EMA support, extending its decline to as low as $0.10 as of March 2020.

If the fractal plays out as it did in 2018-2019, XRP would risk breaking below its 200-week EMA support near $0.54 in the coming sessions. Such a move may shift XRP's interim downside target to the 0.786 Fib line near $0.43, according to the Fibonacci retracement graph painted from $0.14-swing low to $1.52-swing high.

*XRP/USD weekly price chart featuring downside targets. Source: TradingView*

Meanwhile, a further break below $0.43 would put the next downside target at $0.22, a level with a history of high-volume trading activity.

Bitcoin rebound hits $45.5K as focus switches to future support retests

February 8, 2022 Coin Telegraph

Bitcoin

It's been "up only" in recent days for Bitcoin price action, but when a retracement hits, hopes are pinned on $40,000 holding.

Bitcoin (BTC) hit new multi-week highs above $45,000 on Feb. 8 as the largest cryptocurrency's comeback continued.

*BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView*

$40,000 becomes popular retest target

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $45,500 on Bitstamp in its latest surge before consolidating.

Volatility was once again in evidence as the pair fluctuated by $1,000 on intra-hour timeframes, circling $44,800 at the time of writing.

Fears of a major correction were nonetheless left unfounded on the day, despite theories that $40,000 could see a retest next.

lol okay a couple hundred dollars lower than previous tweet but I'm back to thinking we run it back to retest 40K idk honestly listening to this space has my brain all sorts of messed up clearly not thinking clearly

either way just keep stacking

trend is bullish

add on dips pic.twitter.com/swQXuSqDYC
— K A L E O (@CryptoKaleo) February 8, 2022

As Cointelegraph reported, Bitcoin's latest moves represent a breakout of a downtrend in place since November's all-time highs.

Sparked by a similar exit from its relative strength index (RSI), BTC price action is now closing in on its yearly opening price just above $46,000.

Analyzing the fuel behind the past days' progress, on-chain analytics resource Material Indicators noted that large-volume traders were accumulating, while whales, who had bought in at prices around $38,000, were now neutral.

"Driver of the rally were orders of size $10k - $100k (green), which made up almost all of the total CVD, and evidently TWAP'ed since the bottom was in. Whales remained either flat or sold into the rips," it summarized.

In a separate development, news came Monday that U.S. regulators had approved a new form of exchange-traded fund focused on Bitcoin mining.

"Just as the move down gave no dead cat bounces or clean retests, this up move so far has given shallow dips and no clean retests, leaving sidelined capital sweating and potentially having to chase," a positive William Clemente added about the latest price performance.

XRP leads top ten altcoin gains

Altcoins meanwhile were slightly more sluggish as Bitcoin's rally stole the show.

Ether (ETH), the largest altcoin by market cap, was up 2.8% in 24 hours compared to Bitcoin's 5%, with only Cardano (ADA) and XRP conspicuously outperforming the majority.

*XRP/USD 1-day candle chart (Bitstamp). Source: TradingView*

The latter saw daily gains in excess of 16%, marking a clear turnaround and paving the way for an attack on the $1 mark.

That is the strongest daily candle we have seen on XRP/BTC in 6 months. We have broken our falling wedge downtrend line and a key cluster of resistance. May have avoided the breakdown I was concerned about. Will get more confirmation in the coming days if this move is legit. $XRP pic.twitter.com/wW4GdizlZ1
— Credible Crypto (@CredibleCrypto) February 8, 2022

ADA/USD was up 6.3% at $1.23, its highest level since Jan. 20.

XRP gains 30% after Ripple gets permission to explain ‘fair notice defense’ vs. SEC

February 7, 2022 Coin Telegraph

Altcoin

The long-timeframe chart is painting a death cross pattern, however, suggesting a selloff ahead.

XRP price rose by nearly 30% in less than a week amid positive sentiment around the court case, in which the U.S. Securities and Exchange Commission (SEC) claims that Ripple sold XRP as illegal securities.

SEC vs. Ripple

Judge Analisa Torres has granted Ripple permission to respond to the SEC's Memorandum of Law in support of Motion to Strike fair notice defense, according to court documents.

Additionally, Judge Torres also ordered to unseal three documents concerning the SEC vs. Ripple case, including Ripple's CEO Brad Garlinghouse's email thread and deposition notice and founder Chris Larsen's email string.

Markets received Judge Torres's orders positively. Soon after they made it to the wire, XRP's price rallied by almost 30%, rising from its Feb. 3's lowest level of $0.058 to as high as $0.782 on Feb. 7.

JUST ADDED to our Documents Library:
✅Order by Judge Torres Granting in Part, and Denying in Part, Motions by Defendants @Ripple @bgarlinghouse @chrislarsensf to seal some exhibits to previous motions, and more (1/3) https://t.co/zubKVutRzE
— CryptoLaw (@CryptoLawUS) February 3, 2022

The upside move picked momentum also as Jeremy Hogan, partner at law firm Hogan & Hogan, noted that the SEC vs. Ripple might be heading toward a verdict.

It's good because we are moving into the second phase of the case where "things" are going to happen.
— Jeremy Hogan (@attorneyjeremy1) February 3, 2022

XRP "death cross" ahead?

The latest bout of buying in the XRP market also appeared as the token retested its multi-month support trendline, as shown in the chart below.

XRP now faces a resistance confluence ahead in the form of its 20-week (green) and 50-week (red) exponential moving averages (EMAs). Meanwhile, the two moving averages look poised to form a "death cross" should the 20-week EMA cross below the 50-week EMA — a classic sell signal.

Nonetheless, a decisive, high-volumed close above the said EMAs may limit the selloff risks associated with the death cross. Moreover, an extended upside momentum may have XRP price retest its descending trendline resistance near $1.26, a 50% price increase from current levels.

Alexander Mamasidikov, the co-founder of crypto wallet service MinePlex, ignored the downside warnings, asserting that the end to a long-standing court battle between the SEC and Ripple would prove bullish for XRP.

"With the anticipation that the SEC-induced legal battle alleging the status of XRP as security will be settled this year, the current buy ups can be seen as an avenue to stack up at a discount for possible price surge in the longer term," he said, adding:

"Should the current trend be sustained, XRP’s community’s ambitious backing can help push the cryptocurrency to hit a new monthly high of $0.88 per coin."

Bitcoin price flatlines as XRP hits $1 with ‘massive’ altcoin move set for 2022

December 23, 2021 Coin Telegraph

Bitcoin

Encouraging signs are appearing across altcoin charts, Michaël van de Poppe says, while Bitcoin offers no surprises with a comedown from 10-day highs.

Bitcoin (BTC) stuck rigidly to its tight range on Dec. 23 as price action continued to contradict strong buying activity.

Hodlers busy accumulating

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD failing to hold $49,000 after hitting 10-day highs.

The pair remained stuck in a trading zone only around $4,000 wide, a key factor fuelling bets that a “short squeeze” would hit over the holiday period.

Against declining volatility, data reinforced conviction among investors, with the supply being bought up at roughly three times the rate of new BTC being mined.

“Strong handed HODLers are absorbing supply at more than triple the rate of new coins being mined each day,” on-chain analytics firm Glassnode summarized in the latest edition of its weekly newsletter, “The Week On-Chain.”

Glassnode additionally noted that at a spot price of $47,000, over one-quarter of the BTC supply was underwater compared to when it last moved.

As Cointelegraph reported, the likelihood of a squeeze up or down on BTC/USD will likely increase over the new year as decreased activity thins out liquidity and allows for volatility to enter more easily.

#BTC Update ✅#Bitcoin bounced 8%
$46k re-entry after selling $52k & back up to $50k

Throwback and S&R flip likely from here.
Only a breakout above $50k would be the significant breakout and LONG entry #midterm in case u missed this bounce (downtrend breakout) pic.twitter.com/eKICOZLza6
— AN₿ESSA (@Anbessa100) December 22, 2021

Among traders, $50,000 remained the point to watch for resumption of a more bullish stance.

“Santa rally” comes to XRP as altcoins simmer

Among altcoins, Wednesday’s exuberance was waning, with only two of the top 10 cryptocurrencies by market capitalization still in the green on daily timeframes at the time of writing.

The standout was XRP, which maintained weekly gains of over 18% to return to $1 for the first time since the start of December. Ether (ETH) was back below $4,000.

For Cointelegraph contributor Michaël van de Poppe, however, signs were flowing in that a new year’s rebound made buying this week a solid strategy.

“More and more weekly charts are shaping up beautifully on the altcoins,” he told Twitter followers.

“2022 will be massive.”

xrp price