Price analysis 12/16: SPX, DXY, BTC, ETH, XRP, SOL, BNB, DOGE, ADA, AVAX

December 16, 2024 Coin Telegraph

Avalanche

Sustained demand from buyers has pushed Bitcoin to a new all-time high, opening the doors for a rally toward $113,000.

Bitcoin (BTC) continued its northward journey on Dec. 16, signaling continued demand from the bulls. Material Indicators co-founder Keith Alan said in a post on X that historically, Bitcoin makes “MACRO moves” at or around Dec. 17. He expects a rate cut by the Federal Reserve to boost Bitcoin’s prices higher but added that he will wait on the sidelines until more clarity emerges.

ZK Square chief investment officer CK Zheng told Cointelegraph that Bitcoin may have entered “Santa Claus mode,” with investors looking to allocate capital, fearing missing out on the rally. He expects Bitcoin to reach $125,000 in early 2025 but anticipates a 30% correction afterward.

Daily cryptocurrency market performance. Source: Coin360

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RLUSD stablecoin will increase demand for XRP — Axelar co-founder

December 15, 2024 Coin Telegraph

Bull run

According to data from CoinMarketCap, XRP has a maximum supply of 100 billion tokens, with approximately 57 billion XRP circulating.

XRP (XRP) experienced a historic rally in November 2024 due to political tailwinds and new ecosystem developments. Georgios Vlachos, co-founder of the Axelar open-source interoperability platform, told Cointelegraph that the upcoming RLUSD stablecoin will likely boost demand for XRP in 2025.

Vlachos said that many people, including those in emerging economies, use stablecoins as a method of transaction and a store of value. RLUSD transactions and remittances will mostly settle on the XRP Ledger (XRPL) and the XRP-EVM sidechain, driving demand for XRP. Vlachos told Cointelegraph:

XRP climbed to a seven-year high of approximately $2.90 on Dec. 3, 2024, but pulled back to current price levels after the Relative Strength Index (RSI) hit 95, indicating the asset was overbought. Despite the pullback, several catalysts have sustained investor attention for XRP going into 2025.

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XRP Market Update: Bulls Eye $2.70 as Price Consolidates at Key Levels

December 15, 2024 Bitcoin.com

XRP Market Update: Bulls Eye .70 as Price Consolidates at Key Levels

bitcoin.com

On Dec. 15, 2024, XRP is caught in a dance of indecision, hovering around the $2.40 mark as buyers and sellers tussle for dominance. XRP XRP’s daily chart shows a thrilling ascent from $0.57 to $2.90, followed by a cool-down and settling near $2.40. This spot has become a crucial support after a refreshing correction. […]

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XRP Market Update: Support at $2.38 Holds Firm as Resistance Looms at $2.50

December 14, 2024 Bitcoin.com

XRP Market Update: Support at .38 Holds Firm as Resistance Looms at .50

bitcoin.com

XRP is trading at $2.41, with an intraday range of $2.38 to $2.52, a market cap of $137.70 billion, and a 24-hour trading volume of $8.77 billion, highlighting a phase of consolidation. XRP On the 1-hour chart, XRP shows a short-term downtrend following a retreat from a local high of $2.531 to its current level […]

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Whales Accumulate Bitcoin, Dogecoin, Cardano and One Other Altcoin Amid Brief Market Dip This Week, Says Analyst

December 14, 2024 The Daily Hodl

ada

A widely followed crypto analyst is highlighting whale activity surrounding popular crypto assets such as Bitcoin (BTC), Dogecoin (DOGE), Cardano (ADA), and XRP during this week’s market dip. In a new thread on the social media platform X, crypto strategist Ali Martinez tells his 98,300 followers that deep-pocketed investors have loaded up on smart contract […]

The post Whales Accumulate Bitcoin, Dogecoin, Cardano and One Other Altcoin Amid Brief Market Dip This Week, Says Analyst appeared first on The Daily Hodl.

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XRP Technical Analysis: Bulls Eye a Breakout as $2.9 Resistance Looms

December 13, 2024 Bitcoin.com

XRP Technical Analysis: Bulls Eye a Breakout as .9 Resistance Looms

bitcoin.com

XRP’s price movement on Dec. 13, 2024, reflects an intricate mix of bullish energy and moments of hesitation, with signals across various timeframes hinting at potential breakout opportunities. XRP On the 1-hour chart, XRP shows a short-term uptrend, bouncing from $2.286 to $2.48. However, the appearance of small-bodied candles near $2.48 suggests uncertainty among traders. […]

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XRP Technical Analysis: Price Maintains Balance in Consolidation, Eyeing Critical Breakouts

December 12, 2024 Bitcoin.com

bitcoin.com

As of Dec. 12, 2024, the XRP/USD market reflects a steady consolidation phase across several timeframes, with bulls and bears locked in a tug-of-war at pivotal levels. XRP On Thursday, XRP’s daily chart paints a picture of an earlier uptrend tempered by recent consolidation. Prices climbed from $0.54 to a high near $2.91, encountering a […]

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Analyst: XRP’s Open Interest Spike Points to its Growing Appeal and Foundational Strengths

December 12, 2024 Bitcoin.com

bitcoin.com

A surge in XRP’s open interest suggests continued investor interest in the cryptocurrency, according to analyst Iliya Kalchev. XRP Open Interest Leverage Driven The recent spike in XRP’s open interest suggests the number four digital asset is likely to remain “a focal point in the crypto space for the foreseeable future,” according to Iliya Kalchev, […]

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Ripple CEO Brad Garlinghouse Says Stablecoin RLUSD Has Received Final Approval From New York Regulators

December 11, 2024 The Daily Hodl

Brad Garlinghouse

Ripple Labs’ newest stablecoin product has received final approval from a prominent New York regulator. In a post on the social media platform X, Ripple chief executive Brad Garlinghouse says that Ripple USD (RLUSD) – the firm’s new dollar-pegged crypto asset – has been approved by the New York Department of Financial Services (NYDFS). “This […]

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XRP Uptrend Intact—Is XRP Setting Up for Another Moonshot?

December 11, 2024 Bitcoin.com

bitcoin.com

XRP has displayed a strong recovery over recent days, with prices climbing to $2.37 to $2.42 over the past hour, reflecting a 17% gain in 24 hours. Consolidation Phase or End of Rally? XRP at a Critical Crossroads XRP’s upward momentum has brought the crypto asset close to a pivotal resistance zone at $2.65, with […]

XRP

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