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Bitget, the world’s leading cryptocurrency exchange and Web3 company, is turning up the volume on its global expansion by partnering with UNTOLD—one of the top three music festivals in the world, as an official sponsor of UNTOLD X this August, with the partnership continuing at UNTOLD Dubai later this year. With over 400,000 music lovers
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XRP has been down 2.6% in the last 24 hours, reflecting growing technical weakness across multiple indicators. Its price is below $2.40. Its RSI has sharply dropped into neutral territory, signaling fading momentum after nearly reaching overbought levels just one day prior.
The Ichimoku Cloud setup has turned bearish, with the price now trading below key support lines and under a red cloud, indicating increasing downward pressure. Adding to the concern, XRP’s EMAs are on the verge of forming a death cross, a bearish signal that could lead to deeper declines unless a strong recovery emerges.
XRP’s Relative Strength Index (RSI) has dropped to 46.72, falling from 64.86 just a day earlier, indicating a swift loss of upward momentum.
The RSI is a widely used momentum oscillator that ranges from 0 to 100. It helps traders identify overbought and oversold conditions.
Readings above 70 typically suggest an asset may be overbought and due for a correction, while values below 30 indicate oversold conditions that could lead to a bounce. Levels between 30 and 70 are considered neutral and reflect a lack of strong directional trend.
With XRP now sitting at 46.72, the token has returned to a neutral zone, signaling indecision and a potential pause in its previous upward move.
The sharp decline suggests weakening buyer interest, which could lead to further price consolidation or mild downside if market sentiment doesn’t improve.
For bullish momentum to resume, XRP would likely need a bounce in RSI toward the 60–70 range, supported by a broader recovery in crypto markets. Until then, price action may remain range-bound or slightly bearish.
The Ichimoku Cloud chart for XRP shows a bearish shift in momentum. The price has broken below both the Tenkan-sen (blue line) and the Kijun-sen (red line), signaling a short-term trend reversal.
The price action is now positioned beneath the Kumo (cloud), which has transitioned from green to red—an indication that market sentiment is weakening and downward pressure is building.
The red cloud ahead suggests that bearish momentum could continue unless there’s a strong recovery to push the price back above the cloud.
Additionally, the Senkou Span A (leading green line) is trending downward, and the Senkou Span B (leading red line) is flat, showing a loss of bullish momentum and potential for range-bound or declining movement.
Although not clearly shown, the Chikou Span (lagging green line) appears to be below the price action, further confirming a bearish outlook.
Overall, the Ichimoku setup reflects increasing resistance and declining support, suggesting XRP is in a vulnerable technical position unless buyers step back in forcefully.
XRP recently approached the $2.50 zone but faced sharp rejection as Bitcoin’s sudden drop triggered a broader market pullback.
The selling pressure has weighed heavily on XRP’s structure, and its exponential moving averages (EMAs) are now converging in a way that suggests a potential death cross. This bearish crossover typically signals extended downside risk.
If confirmed, this pattern could open the door to a deeper correction, with key support levels at $2.32 and $2.28 in focus. A break below those zones could accelerate losses toward $2.12 and $2.07 if bearish momentum intensifies.
However, the outlook could shift quickly if XRP manages to stabilize and regain upward momentum.
A push back toward the $2.449 resistance would be the first key test for bulls, and reclaiming $2.479 could open the way for a retest of the $2.65 level.
Such a move would likely require a broader recovery in crypto sentiment, particularly from Bitcoin, as well as a clear rejection of the looming death cross. Until then, the technical bias remains tilted to the downside.
The post XRP Struggles to Hold Support as Death Cross Nears appeared first on BeInCrypto.
The post Exclusive: How a 77-Year-Old Indian Brand is Betting Big on Bitcoin Despite Tough Taxes appeared first on Coinpedia Fintech News
It’s not every day you hear about a 77-year-old Indian business shifting gears to embrace Bitcoin. But that’s exactly what Jetking, a name once known for making radios and televisions in India, has done.
The company, which later moved into IT education, faced tough times during the COVID-19 pandemic. As the world shut down, Jetking’s 200 centers across India saw business dry up. Forced to rethink their future, the leadership explored around 15 different ideas to revive the company.
In the end, they made a big move: to transform into a Bitcoin-centric company.
In an interview with Coinpedia, CFO Siddarth Bharwani said, “Jetking’s decision to hold Bitcoin as a treasury asset has had both symbolic and financial implications, The move sparked interest from a new class of investors, particularly younger or tech-savvy retail investors.” The company is aiming to hold 210 Bitcoins by the end of 2025.
India’s strict 30% tax on crypto profits hasn’t made things easy. But Jetking has taken a different route.
“We follow a ‘Never Sell Bitcoin’ strategy,” Bharwani explained. This means the company doesn’t realize profits on its Bitcoin holdings, avoiding taxable events. Any changes in value are simply noted as revaluation reserves in the financial reports.
The Reserve Bank of India (RBI) has repeatedly raised concerns about crypto being used for illegal cross-border transfers, like hawala. Jetking says it takes these worries seriously and uses a compliance-first approach.
All Bitcoin is bought via regulated, FIU-registered exchanges and stored with institutional-grade custodians that follow KYC and AML checks.
As India works on a formal set of crypto rules, Jetking hopes for fairer regulations. The company supports government oversight but wants a shift from the flat 30% tax to a graded capital gains model based on how long crypto is held.
“We expect shift from a flat 30% tax on gains to a graded capital gains tax model based on holding period. Enable carry-forward and offset of losses, as is the case with other financial assets and GST exemption or clarity when crypto is used purely as a treasury reserve, not as payment or service,” they said.
The post Exclusive: How a 77-Year-Old Indian Brand is Betting Big on Bitcoin Despite Tough Taxes appeared first on Coinpedia Fintech News
It’s not every day you hear about a 77-year-old Indian business shifting gears to embrace Bitcoin. But that’s exactly what Jetking, a name once known for making radios and televisions in India, has done. The company, which later moved into IT education, faced tough times during the COVID-19 pandemic. As the world shut down, Jetking’s …
Ripple Labs CEO Brad Garlinghouse is amplifying calls for the XRP community to quit viewing their Bitcoin counterparts as the enemy. Garlinghouse railed against viewing cryptocurrencies as a zero-sum game at the XRP Las Vegas 2025 conference, urging collaboration to take on the global banking industry. Bitcoin Is Not The Enemy, Say Brad Garlinghouse As proceedings at the XRP Las Vegas conference reached their zenith, Brad Garlinghouse took to the stage to advocate for greater industry collaboration. In his panel discussion, Garlinghouse told attendees that Bitcoin is not the enemy, noting that XRP can also thrive amid Bitcoin’s dominance. He adds that cryptocurrencies and technology are not a zero-sum game, citing his previous experience as a Silicon Valley executive for over 24 years. He adds that the end goal for XRP and Bitcoin communities is to grow the pie and take on the global banking system. “The Bitcoin community is… Read More at Coingape.com
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