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Solana price continued its strong surge on Tuesday, July 22, reaching its highest level since February this year. SOL token rose for three consecutive days, up by 112% from its lowest point this year. This surge could accelerate as the recently launched staked SOL ETF crossed a key milestone. Solana Price Flashes Golden Cross Pattern
The post Solana Price Flashes Golden Cross as Staked SOL ETF Hits Key Milestone- Is $294 Next? appeared first on CoinGape.
Donald Trump’s long-awaited White House Crypto Summit disappointed the crypto space. Its promises were underwhelming, and the community was undervalued. Bitcoin’s price fell slightly instead of an anticipated jump.
Several Trump-aligned crypto executives praised the President’s attempts to curtail federal regulators and suggested the industry was “doomed” without his intervention. Still, this frustration hasn’t boiled over into an all-out schism yet.
Donald Trump announced the first-ever White House Crypto Summit last week, and the community was expecting an opportunity for positive new regulations.
Specific policy ideas and a potential guest list were hotly debated, and the bubble of anticipation helped fuel a pump in token prices. Today, the long-awaited Summit finally happened.
“Welcome to the first ever White House Digital Assets Summit. I know that many of you have been fighting for years for this, and it’s an honor to be here with you. Last year, I promised to make America the Bitcoin capital of the world… and we’re taking historic action to deliver on that promise,” Trump claimed.
However, the most bullish expectations of Trump and the Crypto Summit quickly fell. He addressed his Crypto Reserve plans in brief detail, offhandedly suggested that he could help FIFA launch a token, and postponed his timetable for friendly regulations to become law.
Mostly, crypto executives praised him as a savior of the industry, sparking backlash:
“That Summit was the most embarrassing thing I’ve ever witnessed. This is really what we’ve come to? Is everyone just worshipping Trump? Meanwhile, he has no idea what he’s reading off of, he’s just riffing on what David Sacks wrote him. We used to be cypherpunks, we used to be anti-government, now we [just] want the price to go up,” popular NFT trader Clemente claimed.
Specifically, the televised Crypto Summit only lasted a little over 20 minutes, most of which did not involve Trump himself speaking.
Several close allies, such as Coinbase CEO Brian Armstrong, excessively praised the President’s attempts to curtail the SEC and other regulators. They suggested that Trump saved the industry from excessive enforcement under Gary Gensler.
This deferential attitude towards Trump, the Summit’s short duration, and lack of substantial promises created an overall negative impression.
By suggesting that the industry was “doomed” without Trump’s help, these executives ignore the community’s strength, resilience, and innovative spirit. Is it any wonder Bitcoin’s price fell afterward?
Participants at Trump’s Crypto Summit lauded his attempts to totally defang financial regulators, which is already sparking unprecedented turmoil within the federal government.
Several Summit participants like Cameron Winklevoss openly wish to take this agenda even further.
“The Crypto Summit is a disgrace. It’s a national embarrassment. The crypto faction that has captured the White House is precisely what our Founding Fathers warned us about. It will be a blight on whatever legacy Trump leaves and marks a low point for the presidency and the USA,” wrote Peter Schiff, financial commentator and crypto critic.
Ultimately, it doesn’t look like this Crypto Summit will precipitate a real break between Trump and the community overnight. People are dissatisfied, true, but some may yet benefit.
For example, Armstrong already announced that Coinbase will hire 1,000 more employees. It may take real economic losses for this ambient frustration to boil over.
However, overall, the summit remained largely underwhelming. It did not offer any significant positive development signal for the industry outside of the US market.
The post Trump’s Crypto Summit Offers Little, Sparking Community Frustration appeared first on BeInCrypto.
XRP is up 15.4% over the past 30 days but has dropped 8.6% in the last four, highlighting growing short-term pressure. Despite the monthly gains, XRP remains the third-worst-performing asset among the top 20 cryptocurrencies, outperforming only BNB and TRX during this period.
Momentum indicators like RSI are attempting to stabilize, but the formation of a red Ichimoku cloud and weakening EMA structure raise concerns. With key resistance levels overhead and a possible death cross forming, XRP faces a pivotal moment in determining its next direction.
XRP’s Relative Strength Index (RSI) has rebounded to 47.52, rising sharply from yesterday’s 35.18 after a steep decline from 65.76 four days ago and a recent peak of 74.22 six days ago.
This rapid swing reflects a shift in momentum after a period of strong selling pressure.
While the RSI is still below the neutral threshold, the move upward may indicate early signs of renewed interest or a short-term relief rally following recent losses.
Recently, US judge Analisa Torres rejected the joint settlement request from the SEC and Ripple, calling it procedurally improper—meaning the original penalties and injunctions remain in place.
The XRP lawsuit continues, with both parties now needing to either refile correctly or resume the appeals process, which could influence its price in the next weeks.
The RSI is a momentum oscillator that ranges from 0 to 100 and helps identify overbought or oversold conditions in the market.
Values above 70 typically suggest an asset is overbought and could be due for a correction, while values below 30 indicate it may be oversold and poised for a bounce.
With XRP’s RSI now sitting near the midpoint at 47.52, the asset is in a neutral zone—neither overbought nor oversold. This could mean price consolidation ahead, or a potential move toward retesting resistance levels if upward momentum builds.
XRP’s Ichimoku chart shows a shift in market structure. After several sessions of weakness, the price tested the blue Tenkan-sen line.
Notably, the cloud ahead has just turned red for the first time in several days—an early warning that bearish pressure could increase.
While the current candle attempts to close above the Tenkan-sen, the broader structure now faces added resistance, especially as the price approaches the lower edge of the cloud.
The narrowing gap between the red Kijun-sen and the price line adds to the short-term tension, reinforcing that bulls must step in now or risk losing momentum.
The cloud’s color shift suggests that upside traction could be limited even if XRP manages to enter the cloud.
If rejection occurs here, the path of least resistance may shift downward, opening the possibility for a new leg of correction.
XRP’s EMA lines are signaling potential trouble ahead, with the short-term averages dropping sharply over the past four days.
A death cross—where short-term EMAs cross below long-term ones—appears increasingly likely if current momentum doesn’t reverse.
XRP price is now hovering near a key resistance zone around $2.40, where both short-term EMAs are converging. A strong breakout above this area could invalidate the bearish setup and open the path toward a potential move to $2.65.
However, failure to reclaim that resistance may leave XRP vulnerable to renewed downside pressure.
The $2.32 level, which held as support in recent sessions, will be critical—if it fails on another retest, the next downside targets lie around $2.15 and $2.07.
With the EMAs turning lower and resistance overhead, XRP must generate significant buying pressure soon to avoid slipping further.
The post XRP Lacks Buying Activity Below $2.50 – More Losses Ahead? appeared first on BeInCrypto.
Eric Council Jr, the man who hacked the SEC’s X account last January, was sentenced to 14 months in prison today. In addition to the prison time, Council must forfeit $50,000 and be subject to three years of supervised release.
He was arrested in October 2024, and prosecutors offered him a deal shortly afterward. Council apparently took it in February, pleading guilty to charges of conspiracy to commit aggravated identity theft.
At the beginning of 2024, rumors about a Bitcoin ETF approval were turning into a tremendous hype wave. Therefore, when Council hacked the SEC’s X account to claim that it got the green light, this caused market pandemonium.
Bitcoin rose more than $1,000 shortly afterwards, and the hunt for Council began. Today, the story finally ended.
The US Attorney’s office announced that Council had been sentenced for the infamous SEC hack. Court documents showed that he used a SIM Swap to compromise a phone with access to the X account.
Council continued using similar scams until the FBI identified him in August, leading to his October 2024 arrest.
“Schemes of this nature threaten the health and integrity of our market system. SIM swap schemes threaten the financial security of average citizens, financial institutions, and government agencies. Don’t fool yourself into thinking you can’t be caught. You will be caught, prosecuted, and will pay the price,” claimed US Attorney Jeanine Ferris Pirro.
Interestingly, government prosecutors repeatedly alleged that Eric Council had several co-conspirators in committing the SEC hack. However, none of them have been named, arrested, or charged with anything yet.
The government offered Council a plea deal shortly after his arrest, on the condition that he name these individuals. He pleaded guilty to conspiracy charges in February, presumably suggesting that he did indeed cooperate.
It seems a little strange that there haven’t been any developments in this broader investigation over the last three months.
Still, Council has personally faced justice for his role in the SEC hack. He was sentenced to forfeit $50,000 and spend 14 months in prison.
After his release, he will be under police supervision for the next three years, ensuring that he does not access the dark web or commit identity fraud.
The post SEC X Account Hacker Sentenced to 14 Months in Prison appeared first on BeInCrypto.