Can These XRP Rivals Overshoot and 10X As Ripple Lawsuit Nears Conclusion?

Monicah W

Can These XRP Rivals Overshoot and 10X As Ripple Lawsuit Nears Conclusion?

The XRP market faces significant changes as both Ripple and the U.S. Securities and Exchange Commission (SEC) approach the end of their legal dispute. The case has gained prominence among the crypto community during the entire time of SEC Chair Gary Gensler’s enforcement period. The XRP price is trending upward, currently hovering above $2.45, with a 5% surge over the past week. Let’s Uncover these top 4 XRP rivals, including ADA, DOGE, and SOL, that could see a 10x surge 

XRP Rivals: Cardano (ADA)

Cardano (ADA) price maintains bullish strength because its market price reached $0.7665 after demonstrating a 3% positive change over the last day. The price of ADA has increased 10% throughout the past seven days. 

The cryptocurrency holds itself at the $0.76 support point and aims toward the essential $1 price level. The Ripple lawsuit approaches its end while its XRP competitor ADA maintains its upward movement. The ADA market attracts trader attention since its value continues to evolve during this market transition period. 

Dogecoin (DOGE)

Dogecoin (DOGE) price surpassed $0.20 marking its last 24 hours with a 10% market increase. The market price of DOGE is $0.2017, and it is currently positioned among the top performers alongside the price of XRP. The Dogecoin Foundation revealed important news as the market experienced a price increase.

The foundation has launched the House of Doge, a new division dedicated to boosting DOGE’s ecosystem. As part of the move, the Official Dogecoin Reserve was introduced, securing 10 million DOGE at market rates. 

The foundation aims to position DOGE as a fast, decentralized global payment network. The price rally followed a breakout from a three-month descending trendline, with analysts citing an ascending triangle pattern.

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Solana (SOL)

Solana price has seen a notable surge in price, with the current market recovery. At the time of writing, the SOL price hovered at $140, with a strong surge of 15% in the past week, making it among the XRP rivals. The SOL price prediction could hit above the $160 level if the bullish trend continues.

Solana derivatives volume experienced a 1.88% increase until it reached $9.41 billion as recorded by Coinglass. Open interest reached $5.07 billion after an increase of 1.54%. The rising figures demonstrate an increasing level of marketplace activity in the Solana derivatives sector. The two indicators demonstrate an increase in immediate trading conduct.

Can These XRP Rivals Overshoot and 10X As Ripple Lawsuit Nears Conclusion?
Source: Coinglass

Final Thoughts

To sum up, The approaching resolution of Ripple’s legal battle will create a profound effect on XRP alongside its competitors in the market. XRP Rival ADA DOGE and SOL could experience additional value growth when positive resolutions strengthen market conditions.

The post Can These XRP Rivals Overshoot and 10X As Ripple Lawsuit Nears Conclusion? appeared first on CoinGape.

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Why Crypto Market Is Up Today: Bullish Technicals & Market Catalysts

Why Crypto Market Is Up Today

The post Why Crypto Market Is Up Today: Bullish Technicals & Market Catalysts appeared first on Coinpedia Fintech News

The crypto market has rebounded after a recent dip. Currently, the total market cap of the cryptocurrency market stands at $2.96T. In the last 24 hours, the market has experienced a surge of 1.5%. During the period, almost all the top ten cryptos have seen growth. BTC has grown by 2.7%, ETH by 1.6%, XRP by 3.2%, SOL by 3.2% and DOGE by 2.9%. The big question is: what has triggered this rebound? Let’s dive into the key reasons behind this price surge. 

Trump’s Tariff Delay Sparks Market Optimism 

Earlier, US President Donald Trump



President

announced a 25% tariff on auto imports from Canada and Mexico. The move created havoc in the global economy. It even affected the crypto industry as well.  It was feared that the development could push the Northern American region into a severe trade war.

Yesterday, a temporary solution was made in the issue, as Trump agreed to a 30-day delay in the implementation of the tariff plan. 

The decision was the final outcome of a series of discussions conducted with Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum by Trump. 

The temporary halt in the implementation of the plan has averted immediate trade disruptions, and, thus, considerably lowered macroeconomic pressure. Experts opine that this development has positively influenced the crypto market. 

Stock Market Gains Add to Crypto Rally 

Yesterday, the US market reported a rise of around 1.05%. The S&P 500 index surged from $5,781.50 to $5,842.62. 

The crypto market, even crypto stocks, have benefited from this positive momentum in the US stock landscape.

Yesterday, the MicroStrategy stock price climbed from $277.54 to $308.55, marking a notable rise of 11.17%

On the same day, the stock price of Coinbase Global grew from $214.64 to $222.45, recording a surge of 3.63%

Weaker US Dollar and Interest Rate Speculation 

In the last four days, the US Dollar index has declined by 3.21%. A weaker dollar can signal concerns about the US economy’s health. It can lead to higher import prices, potentially fueling inflation. 

If the dollar is falling, and that fall is contributing to inflation, the US Fed may adjust interest rates. Reports say that there is a 52% probability for a Fed rate cut in June 2025. 

Lower interest rates can encourage investors to seek higher returns in riskier assets, such as cryptos.

It is fair to assume that the drop in the DXY index reading and speculations regarding the June interest rate cut have influenced the crypto market positively. 

Technical Indicators Point to a Bullish Breakout 

Currently, the total market cap of the crypto market stands at $2.96T. The 200-day SMA of the market stands at $2.79T, the 100-day SMA at 3.28T and the 50-day SMA at 3.19T. 

Recently, the market rebounded from the 200-day SMA line – which acts as a strong support. Now, it remains at least 5.74% above the support.  

The 100-day SMA and 50-day SMA now act as resistant levels. If it breaks above the range of $3.19T and $3.28T, the market could see a strong bullish rally. 

The RSI of the market is at 47.58. This also suggests that there is enough room for the market to grow further. 

In conclusion, the crypto market is showing strength, with key technical levels in focus. If the trend continues, a bullish breakout could be on the horizon. 

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The post Why Crypto Market Is Up Today: Bullish Technicals & Market Catalysts appeared first on Coinpedia Fintech News
The crypto market has rebounded after a recent dip. Currently, the total market cap of the cryptocurrency market stands at $2.96T. In the last 24 hours, the market has experienced a surge of 1.5%. During the period, almost all the top ten cryptos have seen growth. BTC has grown by 2.7%, ETH by 1.6%, XRP …

US Bitcoin ETF Holdings Fall Below Satoshi As Outflows Continue

Bitcoin ETF outflows have nearly amounted to $750 million in the last two days as the crypto market consistently fell. BlackRock, the largest issuer, has offloaded around 2,000 BTC in the previous 24 hours.

Together, the ETF issuers sold off enough BTC that they collectively hold less than Satoshi. They surpassed him three months ago and continued buying huge amounts of Bitcoin, indicating truly massive sales.

Bitcoin ETF Outflows Continue

Since the Bitcoin ETFs first got SEC approval last year, they’ve had a transformative impact on the market. Lately, however, they’ve been turning bearish.

Towards the end of February, the market saw $2.7 billion in outflows, and this trend continued. The last four consecutive weeks had outflows, and the market already lost nearly $750 million this week alone.

bitcoin etf
Bitcoin ETF Net Outflow. Source: SoSoValue

This marks the seventh consecutive day of outflows for this ETF market. IBIT, BlackRock’s product, led these losses with $151 million in the last 24 hours.

In mid-February, some analysts began speculating that BlackRock would begin selling its Bitcoin, and ETF analyst Shaun Edmondson noticed how large of a trend it’s becoming:

“I know the markets are very ‘risk off’ at the moment with the Tariff uncertainty, but this is yet another outflow day from the US Spot ETFs, collectively now falling below Satoshi again. Given the bullish narrative from the SEC, Strategy raising 21 billion, State [Bitcoin Reserve] race and National [Bitcoin Reserve] bill, I find this a little surprising,” Edmondson claimed.

BlackRock alone has offloaded around 2,000 BTC since Edmondson posted yesterday’s daily tallies. It’s unclear how far the ETF issuers want to take this trend, but these Bitcoin sales are very concerning.

These issuers surpassed Satoshi’s Bitcoin holdings in December, so these outflows have already eaten up three months’ worth of vociferous purchasing.

Still, despite this ETF pessimism, Bitcoin’s actual price could be doing a lot worse. The entire crypto market has been hit with massive outflows, and BTC fell accordingly.

However, the US CPI report this morning was better than anticipated, which allowed Bitcoin a little breathing room. It’s anyone’s guess, however, how long this reprieve will actually last.

The post US Bitcoin ETF Holdings Fall Below Satoshi As Outflows Continue appeared first on BeInCrypto.