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Next week, the U.S. Senate is set to release the draft of the Digital Asset Market Clarity (CLARITY) Act. Originally planned for this week, the draft’s release will coincide with “Crypto Week,” from July 14 to 18. This legislative push is part of broader efforts to create clearer regulations around digital assets in the U.S.,
The post US Senate To Release CLARITY Act Draft Next Week appeared first on CoinGape.
Ethereum blockchain will receive the Pectra upgrade on May 7, which could have a bullish impact on its price. Let’s explore three key reasons why the post-Pectra update could propel Ethereum (ETH) price to $2,000 after weeks of struggle.
The Pectra advancement will modernize the Ethereum blockchain, bringing new features to the table. Reducing the layer-2 transaction costs, the update will implement 6 blobs per block. Validators will be able to consolidate 2,048 ETH, and EIP-7702 will bring smart contract functionality to wallets.
The huge update for Ethereum will result in a notable impact on the token’s underlying price. This could be the reason that ends the lackluster performance of Ethereum price. Here are the three reasons why this technological reform could catalyze a bull rally for ETH.
With a crypto market turnaround, Ethereum price has created an evening star pattern near the $1,755 demand zone. Following the trend reversal pattern, ETH began a new V-shaped reversal, creating consecutive green candles, signaling the resurgence of bullish momentum.
This bounce from the 50% Fibonacci level near $1,755 pushed ETH price to revisit the 61.80% Fibonacci level at $1,835. Due to this pivotal recovery, investors expect the possibility of a $1,855 breakout rally for Ethereum.
The MACD’s bullish crossover signals trend reversal, which is in line with the above outlook. Furthermore, the 4-hour RSI line has bounced off the oversold level, reflecting the buyer strength.
As a result, investors can expect the breakout rally to push Ethereum price to the next key hurdle at $1,949 or roughly $2,000. This level coincides with the 78.60% level.
Optimistically, with the new Pectra upgrade amid a broader market recovery, Ethereum could reach the previous swing high near $2,100. Hence, the Ethereum price prediction marks an upside potential of 25% upon breakout.
IntoTheBlock’s Global In/Out of the Money Around Price (GIOM) metric shows the next key hurdle extends from $2,042 to $2,499. Here, roughly 13 million addresses that bought nearly 70 million ETH at an average price of $2,298 are “out of the money”. While the Pectra upgrade-driven Ethereum price jump could hit $2,000, investors should consider booking profits here due to selling pressure from the aforementioned underwater investors.
Alternatively, the nearly 7 million addresses that purchased 8 million ETH at $1,794 are a good support level that investors should keep an eye on.
Large Holders’ Netflow for Ethereum spiked by 78.07% from 37.12k to 105.33k between April 29 to May 6. Large Holder Netflow tracks smart money investors that hold 0.1% of ETH’s supply. An uptick in this cohort signals an optimistic outlook and hints at an upcoming price rally for Ethereum. Combined with the optimistic technicals and ITB’s data, the outlook for ETH remains largely hopeful.
Conclusion
The recent price surge aligns with the upcoming network upgrade which is a few hours away. The crypto market is anticipating a cheaper Layer-2 transaction and a smart contract facility for Ethereum wallets that could boost its price to key psychological levels or higher.
The post Top 3 Reasons Why Ethereum Price Could Reach $2,000 Post Pectra Upgrade appeared first on CoinGape.
The XRP price is rising, joining other cryptocurrencies, which have all turned green today. Ripple spiked to $2.30 on Wednesday, its highest level since March 28, and 45% higher than its April low. It has soared by 350% from its lowest level in 2024.Crypto analysts cite its strong technical patterns, a recent statement by Teucrium CEO, and Paul Atkins swearing in as the new head of the SEC.
XRP price rose as the crypto market boomed after Donald Trump said that he would not fire Jerome Powell. He also expressed hopes that the US will reach a trade deal with China, eliminating the recent tariffs.
Crypto pundits also identify an interview in which Teucreum CEO said that XRP was the only coin with a real utility. He argued that its role to become a SWIFT rival and Hidden Road acquisition will stimulate more utility. More so, the expert hailed the entry of Atkins at the SEC as a top catalyst. This statement came after his company’s recently launched The Teucrium 2x Long Daily XRP ETF reached $34 million in assets.
In a separate note, he credited the rally to the swearing-in of Paul Atkins as the new head of the SEC. He takes over from Gary Gensler, an official who focused on filing lawsuits against crypto companies, including Ripple Labs.
Meanwhile, Ali Martinez, a crypto analyst with thousands of followers, noted that XRP price had created an inverse head and shoulders pattern on the hourly chart. He expects that the coin will surge towards the resistance at $2.70.
Another key theme is the upcoming approval of the XRP ETF, which is expected to result in substantial inflows. JPMorgan analysts estimate that these funds will accumulate over $8 billion in inflows in the first 12 months.
Technicals suggest that the XRP coin price may be ready for a strong bull run. It has formed an inverse H&S pattern on the four-hour chart. Also, it has now jumped above the neckline, confirming the bullish breakout. It has also retested the 50% Fibonacci Retracement level at $2.30.
Additionally, trend and momentum indicators signal that the bullish momentum is intact. For example, the Directional Movement Index (DMI) has jumped to 40. This is a popular indicator used to measure the strength of a trend.
Therefore, the value of XRP will likely keep soaring as buyers target the 78.6% retracement level at $2.70, which is about 20% above the current level.
A drop below the neckline of the inverse H&S pattern at $2.2 will cancel the bullish outlook as it will mean that there are more sellers in the market.
The post Why Is XRP Going Up? Expert Insights on the Surge and Price Prediction appeared first on CoinGape.
Bitcoin (BTC) is up more than 7% over the past seven days, holding firm above the $100,000 level and showing signs of continued bullish momentum. However, recent whale activity paints a more cautious picture, with only a slight increase in large holders and mixed signals over the past month.
While the Ichimoku Cloud and EMA indicators remain supportive, they also reflect a market lacking strong conviction. With key resistance and support levels in focus, BTC’s next move could determine whether it pushes toward new highs or risks falling back below six figures.
The number of Bitcoin whales—wallets holding between 1,000 and 10,000 BTC—has slightly increased, rising to 2,012 as of today, up from 2,009 on May 9.
While this uptick may appear marginal, whale activity is closely monitored by analysts and investors because these large holders often influence market direction through significant transactions.
Whale accumulation typically reflects growing confidence in Bitcoin’s medium- to long-term outlook, while reductions in holdings can signal caution or profit-taking.
That said, the current pace of growth in whale numbers remains modest, and their activity has been far from stable over the last 30 days.
The last month has shown mixed signals, with whales alternating between accumulation and distribution amid macro uncertainty and volatile price action, as all 12 Bitcoin ETFs see red as the market shrugs off $96 million exit in the last 24 hours, their biggest single-day outflow since April 16.
This inconsistency suggests that, despite the slight rise in recent days, major players are still navigating the market cautiously rather than committing to a sustained buying trend, despite some analysts stating that Bitcoin could reach a new all-time high soon.
The Ichimoku Cloud chart for Bitcoin currently shows a relatively neutral-to-bullish setup. Price candles sit just above the Kijun-sen (red line) and Tenkan-sen (blue line), indicating that short-term support is holding for now.
The cloud (Kumo) ahead is bullish, with the Senkou Span A (green cloud boundary) positioned above the Senkou Span B (red cloud boundary), reflecting a positive forward-looking trend.
The Chikou Span (lagging green line) remains above the price from 26 periods ago, signaling cautious bullish sentiment.
Price is still above the cloud, which is a bullish zone, but sideways action and a narrowing gap between the Tenkan-sen and Kijun-sen show indecision.
For the uptrend to gain strength, the blue line must cross above the red line clearly, with a thicker and steeper cloud forming ahead.
Bitcoin price has been steadily holding above the key psychological level of $100,000 for the past six days, with its EMA lines indicating a clear uptrend—short-term averages are positioned above long-term ones, signaling sustained bullish momentum.
If BTC can break above the immediate resistance at $105,705, it could trigger another leg up toward $107,038.
A strong continuation could push the price further to $109,312, with a potential breakout toward $110,000, which would mark a historic milestone.
However, if the current trend loses steam, Bitcoin may face a pullback toward its first key support at $101,296.
A break below that level could bring the price back under $100,000, opening the door to deeper corrections at $97,766 and potentially $93,422.
The post Bitcoin Whales are Increasing, But Their Activity Remains Unstable appeared first on BeInCrypto.