Grayscale Files for Crypto ETF – Will the SEC Approve?

Dogecoin price has tanked this year, coinciding with the recent crypto sell-off. This crash has erased billions of dollars in value. Still, one crypto analyst believes that it is just a matter of time until the DOGE price recovers, and potentially hits the psychological point at $1.

Crypto Pro Predicts Dogecoin Price Will Hit $1 

A popular crypto expert has come out with a bullish DOGE price prediction even as it deviates further from its 2024 highs. The analyst used a weekly chart to identify chart patterns he believes will drive the upcoming bull run.

As shown below, he noted that the Dogecoin price has been forming a falling wedge pattern on the weekly chart. The upper side of this wedge links the highest swings since December, while its lower side connects the lower lows since Dec. 19. This pattern often leads to a strong bullish breakout when the two lines are nearing their confluence level. 

The analyst also pointed out that DOGE formed a similar pattern between March and November last year, culminating in a strong bull run to a high of $0.45.

In this case, Dogecoin has formed a falling wedge and retested the important support at $0.2280, the highest swing in March last year. A break and retest pattern signals a potential continuation. 

The pro now expects that the coin will initially jump to $0.50. After that, he expects it to surge to $1. Such a move would be a 400% surge from the current level. It would also push its market cap to $140 billion. 

A 400% surge is possible in the crypto market. For example, Dogecoin jumped by 720% from its 2023 lows to the highest swing in 2024. It can also jump by 285% to get to its all-time high of $0.7370. After that, it will need to soar by just 0.35% to hit $1.

The bullish DOGE outlook will be canceled if the coin crashes below the ascending trendline that links the lowest levels since June 2023.

Potential Catalysts to Push DOGE Price to $1

Dogecoin price has numerous catalysts that may push it to $1. First, the upcoming reciprocal tariffs may sink the US into a recession, leading to Fed interventions like rate cuts and quantitative easing. These actions may lead to a new crypto bull run.

Second, Polymarket users believe that the SEC will approve a DOGE ETF. That’s because Dogecoin is similar to Bitcoin in that it is a proof-of-work coin that the SEC does not consider a security. Such an ETF will lead to more demand from Wall Street investors. 

Further, Dogecoin may benefit from the creation of crypto reserves since it is a candidate for inclusion. Finally, DOGE is one of the top blue-chip meme coins, meaning that it may see traction as investors rotate from risky Solana meme coins.

The post ‘Trust the Cycle’ – Pro Says Dogecoin Price Could Suddenly Hit $1 appeared first on CoinGape.

The ongoing Ripple vs. SEC lawsuit may conclude without any changes to the $125 million judgment against Ripple, according to attorney Fred Rispoli.

The legal expert suggested that the Securities and Exchange Commission (SEC) might be waiting for new leadership before making a final decision. This has led to discussions about whether Ripple could negotiate a reduced penalty or alternative settlement.

Ripple vs. SEC Lawsuit Could End with $125M Judgment

The US SEC, currently led by a 2-1 pro-crypto commission under acting Chair Mark Uyeda, has not dropped its case against Ripple, despite withdrawing other cryptocurrency-related lawsuits. Legal analysts Fred Rispoli in an X post believes the agency is waiting for new SEC Chair candidate Paul Atkins to take office before making further decisions on the case.

Fred Rispoli has argued that dropping the appeal while keeping the $125 million fine would save the SEC from further legal battles.

“The best satisfaction of this, if true, is that it nullifies the thousands of hours of work put in by SEC staff to get the $125M judgment,” Rispoli stated in a post on X.

The Ripple vs. SEC lawsuit remains one of the most complex legal battles in the cryptocurrency industry. While the SEC recently closed cases against Kraken, Coinbase, and ConsenSys, it has yet to take similar action against Ripple. Some legal experts believe the injunction on Ripple’s institutional sales of XRP may be a key factor in the delay.

Speculation Over XRP Payments and Strategic Reserves

There has been speculation that Ripple could settle the $125 million fine by transferring XRP instead of cash. Vincent Van Code, a market analyst, suggested that Ripple might be negotiating to pay the fine in XRP, which could then be allocated to a government-controlled cryptocurrency reserve.

According to Van Code, “Some are speculating that Ripple, rather than pay $125 million in dollars, provides the equivalent in XRP to the new crypto strategic reserve.” However, attorney Rispoli doubts that such an arrangement is likely, given the slow progress in legal proceedings.

Meanwhile, Ripple’s escrow holdings, which contain approximately 37.1 billion XRP, have been at the center of discussions regarding potential government acquisitions. Over the weekend, U.S. President Donald Trump confirmed that XRP would be part of the country’s digital asset reserve, fueling speculation that Ripple’s escrow could be involved in the legal negotiations.

XRP Sales Restrictions Remain a Key Issue

The Ripple vs. SEC lawsuit has focused on whether XRP should be classified as a security. In 2023, Judge Analisa Torres ruled that Ripple’s institutional sales of XRP were securities transactions, leading to the $125 million fine. Ripple has since been working to challenge the injunction that restricts certain sales of XRP to banks and payment processors.

According to legal experts, Ripple’s efforts to overturn the injunction could be a reason why the SEC has not yet dropped its case. Attorney Jeremy Hogan has suggested that Ripple may be engaging with the Second Circuit Court of Appeals to contest the ruling.

Meanwhile, Ripple Chief Technology Officer (CTO) David Schwartz has dismissed concerns about XRP inflation. Schwartz reaffirmed that XRP’s total supply cannot be increased under the XRP Ledger’s code.

“There is literally no function to create any more XRP. The code to do such a thing does not exist,” he stated.

As for the Ripple vs. SEC lawsuit, it is currently under review at the Second Circuit Court of Appeals. The SEC submitted its arguments to the court on January 15, 2025, and Ripple has until April 16 to file its response.

The post Ripple vs. SEC Lawsuit Could End with $125M Judgment Still in Place, Says Lawyer appeared first on CoinGape.

Bitcoin price is rising today even after China vowed to retaliate against Donald Trump’s trade war. It rose 8% and moved back above the crucial resistance at $90,000. BTC price will continue to react to the latest trade news and the upcoming US nonfarm payrolls (NFP) data.

Bitcoin Price Rises After China Vows to Retaliate on US Tariffs

BTC and other risky assets jumped on Wednesday, even after China vowed to retaliate against Donald Trump’s tariffs. The retaliation came after Trump boosted his China tariffs from 10% to 20%, a move that will affect trade volume worth billions of dollars. 

China has already announced some retaliatory measures. It will levy up to 15% on some US goods on top of the other tariffs it announced last month. Some of these tariffs target sensitive areas of the American economy like agriculture. Also, the government added more American companies to its unreliable entity list and vowed to appeal at the World Trade Organization. 

Therefore, Bitcoin price and stocks jumped because the Trump administration appeared to soften its stand on tariffs. Howard Lutnick, the Commerce Secretary, said that the US will be willing to negotiate with the affected countries. Traders also believe that Trump simply wants concessions from its top trading partners. 

US Nonfarm Payroll Data Ahead

Bitcoin price is also rising ahead of the upcoming US nonfarm payrolls (NFP) data on Friday. Analysts anticipate that the labor market softened in February because of Elon Musk’s DOGE job cuts. An ADP report showed that the private payrolls crashed to 77k in February from 186k a month earlier.

Weak jobs numbers would be bullish for BTC price because they would boost the odds of Federal Reserve interest rate cuts. Indeed, US bond yields have crashed, raising odds of more rate cuts. 

The NFP report will come on the day that Donald Trump will have his crypto summit, where he will talk about the Strategic Bitcoin Reserves.

Bitcoin Price Technical Analysis

Bears seem to have won the Bitcoin price battle for now as it crashed from $109,200 to $90,000 today. The bulls vs bears power has crashed below zero for two consecutive weeks. While this is often a negative thing, historical data shows that Bitcoin often rebounds when the indicator turns red. For example, it crashed in August last year, leading to a strong rally. It also remained below zero in 2021 and then surged.

Bitcoin is also forming a hammer candlestick pattern that often leads to a breakout. If this happens, it will be the second consecutive hammer that may lead to a strong bullish breakout.

On top of this, Bitcoin is yet to hit the $122,000 target of the cup and handle pattern. This target was established by measuring the cup’s depth and then measuring the same distance from the upper side.

Therefore, a contrarian case can be made even as the crypto fear and greed index remained in the red. More robust gains will be confirmed if the coin rises above the key resistance at $108,426.

A drop below the support at $73,620 will invalidate the BTC price forecast and point to a crash to $50,000.

The post Bitcoin Price Up 8% Today, China Retaliates To Trump’s Tariffs Ahead of US NFP Release appeared first on CoinGape.