SOL price today is trading 2% down amid the broader crypto market selloff, slipping under $170 levels. Following a rejection at $185 resistance, Solana has corrected nearly 10%, however, on-chain data shows the possibility of a strong upside moving ahead. Market analysts are hopeful that this rally can continue moving ahead all the way to $350, provided the altcoin knocks off key resistances on its path. SOL Price Prediction: Analysts Eye $350 as Key Milestone Despite the recent pullback in Solana, the crypto community remains bullish as the altcoin shows the preparedness to break past its accumulation zone of $115-$190. Market analyst Crypto Spaces noted that once SOL price crosses the critical resistance of $200, the next major target of $350 would come very early. Source: Crypto Spaces This potential rally is drawing attention from traders, with the surge in engagement activity, including rising demand for Solana meme coins. Amid… Read More at Coingape.com
The Binance spot market data shows that buyers are finally outpacing sellers for the first time in months. Notably, the shift is catching attention across the crypto market as Bitcoin holds strong above key price levels. As the biggest trading platform, the change in volume might have a major impact on the outlook of Bitcoin and the altcoin.
The Binance CVD Analysis
Data from CryptoQuant disclosed that the Cumulative Volume Delta (CVD) of crypto exchange Binance has been trending upward since Bitcoin dropped to around $75,000. According to the update, this metric tracks the net difference between buying and selling orders.
Analyst Joao Wedson shared charts showing that while the Binance CVD has turned positive, other exchanges like OKX, Bybit, HTX Global, BitMEX, and Deribit still show declines.
Binance Spot Buying Volume Rises Above Selling Volume for the First Time in Six Months
For the first time in six months, spot buying volume on Binance is rising again relative to selling volume.
Since the $75k USD bottom, the CVD (Cumulative Volume Delta) has been trending… pic.twitter.com/8c3j34xMzW
It is worth noting that this marks a break from the pattern seen since 2021, when positive growth on Binance had been rare. Based on the current market outlook, the rise in CVD aligns with the Bitcoin price surge toward $94,000 by late April.
Joao Wedson also emphasized that a rising CVD shows more substantial buying pressure and growing confidence among traders. He advised monitoring this trend closely as it offers valuable insights into risk appetite on the exchange.
Is Demand Rising for Bitcoin?
Beyond Binance, several other signs suggest that demand for the largest digital asset, Bitcoin, is gaining momentum.
According to CoinShares, digital asset investment products from top asset management companies recorded $3.4 billion in inflows over the past week.
CoinGape reported that BTC inflow topped $3 billion. Ethereum also posted inflows of $183 million after weeks of outflows. If anything, this shows a renewed interest of investors in acquiring and trading major cryptocurrencies.
Reports indicate that corporate interest in Bitcoin is heating up. Strategy Inc’s recent purchase of 15,355 Bitcoin for $1.42 billion further signals strong institutional demand. Whales have also been active, with a major buyer acquiring $110 million of Bitcoin and Ethereum via over-the-counter transactions.
Drawing on these trends, Presto executive Peter Chung reaffirmed a $210,000 Bitcoin price target for 2025. The forecast highlights institutional adoption and global liquidity growth as key drivers.
Key Market Trends to Watch
While Bitcoin might be the biggest asset in the spotlight, other key market trends could also shape the overall health of the industry. The demand for SEC approvals of digital asset ETFs remains on the agenda. Recently, the SEC approved the first XRP futures-based ETF with sizable volume scored in 30 minutes.
Also, beyond Binance, market data shows that Bitcoin whales and sharks are active, while bullish on-chain metrics further support the positive outlook.
CoinMarketCap data shows that Bitcoin’s price was trading at around $94,011.77 as of this writing. It has inked a 1.16% growth in the last 24 hours, and trading volume has also risen 71.62% over the same period. The confluence of metrics suggests more uptick is likely.
Amidst various developments within the Ripple ecosystem, the community is eagerly awaiting the much-anticipated XRP lawsuit settlement. This excitement is further amplified by Ripple co-founder Chris Larsen’s meeting with SEC Chair Paul Atkins. Scheduled for today, the meeting sparks speculation about swift action in the Ripple case.
Let’s unveil how this meeting will reshape the Ripple case and how it will impact the future of the XRP price.
Chris Larsen to Meet Paul Atkins: How It Will Impact XRP Lawsuit?
In the latest update within the Ripple network, co-founder Chris Larsen is meeting SEC Chair Paul Atkins today. Reportedly, experts see this meeting as a significant development for Ripple, XRP, and the prolonged lawsuit. Though the meeting’s agenda remains undisclosed, analysts believe that the XRP lawsuit will be one of the main topics of discussion.
Although both the US SEC and Ripple withdrew their appeals in the case, the SEC’s official confirmation of the lawsuit’s conclusion is still pending. Recently, the US Court of Appeals has granted the joint motion by Ripple and the SEC to suspend their appeal while they finalize the settlement.
Clarifications on XRP’s Legal Status
As per expert anticipations, today’s meeting may play a key role in providing clarity to the legal status of Ripple’s XRP token. Though Judge Analisa Torres ruled XRP a non-security, debate persists about its status, particularly in light of the Oregon AG’s Coinbase lawsuit.
Recently, Oregon Attorney General Dan Rayfield filed a case against Coinbase, a top crypto exchange, alleging that the firm offered unregistered securities like XRP. However, lawyers like John Deaton slammed the suit as “dystopian nonsense,” highlighting Judge Torres’ ruling.
Significantly, gaining legal clarity on the token’s status could lead to a swift resolution in the XRP lawsuit. It could also trigger a major rally in the XRP price.
Potential Approval of XRP ETF
Besides the XRP lawsuit and Ripple’s legal status, another major topic of concern is the exchange-traded fund (ETF). With the SEC’s current positive stance on the crypto industry, all eyes are on the commission’s potential approval of multiple crypto ETFs. As major asset managers have filed for an XRP ETF, the commission is awaiting its launch, alongside the XRP lawsuit settlement.
According to Bloomberg analysts Eric Balchunas and James Seyffart, the odds of an ETF approval for XRP lie at 85%, whereas Solana and Litecoin boast 90%.
Dogecoin price may be on the brink of a bullish breakout as on-chain and technical signals align with the crypto market surge. As Bitcoin price reclaimed the $101,000 high on the back of Donald Trump’s announcement of a US-UK trade deal to cut tariffs, DOGE price soared 13%, and a whale moved $148 million.
This whale transaction came as Dogecoin price broke out of a chart pattern that traders often associate with trend reversals. Consequently, the DOGE price soared to $0.1918, a 13% surge, placing Dogecoin among the top-performing crypto assets of the day. Daily trading volume crossed $1.42 billion, marking a 79% increase, while open interest in Dogecoin futures rose by 16.75% to $1.95 billion.
Dogecoin Price Road to $0.29 Target
According to crypto analyst Trader Tardigrade, Dogecoin’s price recently broke out of a diamond bottom formation on the daily chart. This chart pattern typically signals a potential reversal from a downward to an upward trend. According to the technical analyst, if the bull rally continues, the price target is $0.29, a 52% rally from the current levels. Amid this surge, a DOGE whale moved 807,378,538 DOGE tokens, worth approximately $148.8 million, between two unknown wallets.
The breakout was after a period of reduced volatility. Price action consolidated between mid-March and early May, creating a diamond. When the top meme coin broke above this pattern’s upper threshold, volume increased sharply, adding to its bullish movement.
According to the analyst, Dogecoin price has shown a 29-day consistent cycle, where RSI bullish divergence precedes price rally. Each cycle ends at a breakout, and the most recent RSI move coincides with the timeline indicating a DOGE price rally of $0.29.
Long-Term Support Remains Intact
On the weekly timeframe, crypto analyst Ali Martinez noted Dogecoin is trading above a long-standing ascending trendline that has been in place since October 2024. The current price level near $0.16–$0.18 aligns closely with the 0.618 Fibonacci retracement level, often used by traders to assess pullback zones during trend continuation.
Chart data suggests the price recently bounced off this area, indicating continued support. The analyst remarked, “A dip to $0.14 could present a buying opportunity ahead of a potential rebound to $0.30.” The dotted projection path on the chart outlines a scenario where DOGE continues higher toward resistance levels near $0.24 and $0.32.
This structure supports the idea that the current movement may be part of a broader upward trend, aligning with the Dogecoin price prediction. The higher low structure also remains intact, showing that buyers still maintain control at this stage.
DOGE Whale Activity and On-Chain Metrics Support Uptrend
On-chain data from IntoTheBlock reflects growing confidence among large holders. The number of wallets holding between 10 million and 100 million DOGE grew by 3.96%. This was the largest increase across all tracked wallet cohorts, indicating possible accumulation by institutional or long-term investors.
Smaller whale categories, such as those holding 1 million to 10 million DOGE and 100k to 1 million DOGE, also showed stability or slight growth. These trends suggest continued support and interest in Dogecoin from major holders.
Source: IntoTheBlock
The funding rate according to Coinglass has mostly remained in positive territory since mid-April. A positive funding rate indicates rising confidence in a continued DOGE price rise. This behavior suggests bullish market expectations remain strong among leveraged participants.
