XRP had a wild ride this week, reaching a new all-time high of $3.65 before slightly cooling off to around $3.37. Despite the pullback, the overall momentum remains strong, and many in the market are wondering: Can XRP break $4 next?
An analyst has said that XRP is currently in the middle of a bullish wave, a strong upward trend that hasn’t yet hit its full target. The current price action shows consolidation above the previous key high from January ($3.40), which is seen as a positive sign. As long as XRP holds above this level, there’s room to move higher. The next targets being watched are $3.84, $4.33, and even $4.72 in the coming weeks.
The big picture is also helping the bullish case. The long-running legal battle between Ripple and the SEC appears to be nearing its end. Ripple dropped its appeal two weeks ago, and the crypto community has been waiting on the SEC to do the same.
According to former SEC lawyer Marc Fagel, there’s no delay. The SEC is just following its standard internal process. Once both parties finalize their paperwork, they’ll officially end the case. A status update is due by August 15.
At this point, neither party has dropped its appeal. The SEC is following the same internal approval procedure it must follow for every case; there is nothing special about Ripple. Once approved, both parties will file papers to dismiss their appeals; it’ll happen soon enough.
With legal uncertainty fading and strong technical signals in play, XRP’s path to $4 looks possible. If the SEC formally drops its appeal and the broader crypto market holds steady, XRP may push to $4.50 or higher. For now, all eyes are on $3.84 and whether XRP can stay above key support at $3.20. The next few days could be crucial.
High-stakes crypto trader James Wynn has taken his riskiest bet yet – a $1.2 billion leveraged Bitcoin long position on Hyperliquid. However, CrediBULL Crypto says James Wynn’s Hyperliquid BTC long position runs a high risk of liquidation. CrediBULL Crypto Is Pitching His Tent Against James Wynn Pseudonymous cryptocurrency investor James Wynn has sent the cryptoverse buzzing after opening a Hyperliquid BTC long position. Per on-chain data, James Wynn’s new leveraged long position is valued at $1.25 billion and comprises 11,407 BTC. The high-stakes investor has previously gone long on Bitcoin before taking partial profits. James Wynn’s previous $1.1 billion BTC long threatened to send the HYPE token price to $100. Now, Wynn has reopened the position while raising the stakes, but pundits are predicting a grim outlook for the trader. Wynn’s Hyperliquid BTC long position is set at $105K, and with Bitcoin price trading at $108K, CrediBULL Crypto says Wynn… Read More at Coingape.com
Bitcoin price has made a bold uptrend this week as it reclaims $90,000 for the first time in nearly two months. This rally has been attributed to a wide range of factors, including rising inflows to spot BTC ETFs, but one analyst has said that this pump might not last as it is simply driven by leverage. Other analysts have also attributed the gains to macro factors like the declining value of the US dollar.
Why This Bitcoin Price Rally May Be Fake
Bitcoin price is currently approaching its highest level in two months despite growing skepticism among some analysts that this rally might reach exhaustion. Per analyst Maartunn on X, this rally was a “leverage-driven Easter pump” after Bitcoin recently added more than $2 billion in open interest within 24 hours.
Bitcoin Open Interest
The rising open interest is also seen on Coinglass data after this metric hit $60 billion, which is the highest level in two months. Another analyst known as TXMC observed that the rapid surge in OI indicates that the ongoingBTC price rally might fade. He opined,
“If Bitcoin ever breaks away into a bona fide decoupling from other risk assets, it won’t be fueled by over $1.5B worth of leveraged futures longs opening in a 24-hour period.”
Besides therising BTC’s open interest, TXMC added that this rally is also stemming from the weakening value of the US dollar. The US dollar index has plunged to its lowest level in more than three years amid the ongoing tariff war, and this is benefiting the Bitcoin price. He said,
“Bitcoin priced in dollars is about 7-8% higher than Bitcoin priced in other major currencies, relative to the Jan 20 top.”
The third reason behind the risingBTC value today is the rising inflows to spot BTC ETFs, suggesting that institutions are also buying into the ongoing rally. Data from SoSoValue shows that on April 21, inflows to these products reached $381M, marking the highest level since late January.
Will BTC Price Crash to $80,000?
Despite the ongoing concerns about a possible correction in Bitcoin price after the recent rally, the king coin might avoid a crash to $80,000 due to bullish technical indicators and macroeconomic conditions.
Analyst MerlijnTrader on X shared a bullishBitcoin price prediction on X after the coin formed a classic double bottom pattern, which often precedes significant upswings. He noted that BTC might drop to test support at the neckline of $86,900 in the near term before resuming the uptrend and possibly flip $100,000.
BTC Price Chart
At the same time, trader DaanCrypto noted thatBitcoin can extend the rally if it makes a decisive daily close above the psychological price level of $90,000. However, if it fails to flip the 200-day MA and the trend reverses to cause a downtrend below the support at $85,000, it could crash to $80,000.
Meanwhile, BitMEX co-founder Arthur Hayes noted that as the US dollar weakens, the US bond market will be in a crisis. This will also attract capital inflow to BTC and support the uptrend as investors choose to abandon the greenback for assets such as crypto and gold.
Therefore, amid these factors, it is likely that the Bitcoin price might avoid a crash to $80,000 in the near term. However, if it faces rejection at $90,000, it might drop to test the support level of $85,000 and consolidate within this range if the selling pressure eases.
Asset manager RexShares’ move to become the first to launch the Solana and Ethereum Staking ETFs in the US has hit a roadblock. The US Securities and Exchange Commission (SEC) sent a letter explaining why these funds may not qualify as ETFs. SEC Replies To RexShares On Solana & Ethereum Staking ETFs According to a Bloomberg report, the SEC sent a letter to ETF Opportunities Trust, the entity that issues several ETFs, including the ones Rex Shares manages, stating that the staked Solana and Ethereum funds may fail to meet the legal definition of an investment company, which is a requirement for them to list on the stock market. The Commission said that it was concerned that RexShares improperly filed the registration statements for these funds and that the disclosures in these statements describing them as investment companies may be “potentially misleading.” As CoinGape reported, the asset manager had chosen… Read More at Coingape.com
