Market
Bitwise’s Bitcoin and Ethereum ETF Gets SEC’s Green Light
The US Securities and Exchange Commission (SEC) has given initial approval for Bitwise’s spot Bitcoin (BTC) and Ethereum (ETH) Exchange-Traded Fund (ETF).
The SEC confirmed that the filing received accelerated approval. This came after the regulator approved similar ETFs last month.
SEC Approves Bitwise’s Bitcoin and Ethereum ETF
On January 30, the SEC approved NYSE Arca’s 19b-4 filing. The filing allows Bitwise’s combined Bitcoin and Ethereum ETF to be listed and traded.
According to the filing, the fund’s asset allocation will closely reflect the relative market capitalizations of Bitcoin and Ethereum. Furthermore, its holdings would be limited to these two cryptocurrencies and cash reserves.
Notably, according to the SEC, the filing received accelerated approval. The agency determined that the filing was substantially similar to other approved spot crypto ETFs, which allowed for an expedited approval process.
“The Commission finds good cause to approve the Proposal prior to the 30th day after the date of publication of notice of Amendment No. 126 in the Federal Register,” the SEC stated.
The development follows the SEC’s approval of the first-ever combined Bitcoin and Ethereum ETFs from Hashdex and Franklin Templeton in December 2024.
“Because hashdex and Franklin were already approved it made sense that this would also be approved in short order,” Bloomberg ETF analyst James Seyffart pointed out on X.
Bloomberg Senior ETF Analyst Eric Balchunas also commented on the decision on social media platform X. He said that the decision was “news but expected.”
“Even Gensler’s SEC would approve these,” Balchunas wrote.
Balchunas also highlighted the speed of the SEC’s decision. He noted that the approval process took only 45 days instead of the standard 240-day review period.
“I really want to interpret this as a sign the new SEC will be faster but no way to know really. Litecoin on deck, know more soon,” he added.
NYSE Arca filed the 19b-4 on November 26, 2024. After a public comment period and a revision to the filing on January 21, 2025, the SEC decided to fast-track its approval. The approval adds to Bitwise’s growing footprint in the crypto ETF space.
The investment manager has also submitted applications for Solana (SOL), XRP (XRP), and Dogecoin (DOGE) ETFs. Nonetheless, given its higher volatility and speculative nature, whether the SEC will approve a meme coin ETF remains to be seen.
Meanwhile, the Bitwise 10 Crypto Index Fund also remains under review. This fund is designed to track the performance of the top cryptocurrencies.
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XRP has remained in a consolidation phase for the past two weeks, preventing it from establishing a new all-time high (ATH).
While the altcoin continues to hold above a key support level, it struggles to gain the necessary momentum for a breakout. A shift in investor behavior could change this trajectory.
XRP Investors Are Facing Losses
XRP’s transaction volume has been largely dominated by losses. As a new ATH remains elusive, investors have begun moving their holdings. This trend has resulted in many XRP holders facing losses on their transactions for the past two weeks, impacting overall market confidence.
If this pattern continues, traders may begin pulling back from participation, reducing transaction activity. A decline in on-chain engagement could negatively affect XRP’s price, increasing the risk of extended consolidation or a potential drop below key support levels.
The MVRV Long/Short Difference indicates that long-term holders (LTHs) remain in profit, benefiting from XRP’s recent price action. These investors have yet to move toward selling, demonstrating resilience despite short-term volatility. Their continued holding is critical to maintaining stability.
If LTHs maintain their positions, XRP’s price is less likely to experience a sharp correction. This behavior signals confidence in the asset’s long-term potential. It also suggests that XRP could sustain its uptrend if market conditions remain favorable.
XRP Price Prediction: Uptrend To a New High
XRP is currently experiencing a micro uptrend after bouncing off the $2.95 support level. While the altcoin briefly fell below this level during an intraday low, it quickly recovered and remained above the trend line. This reinforced the bullish momentum.
The cryptocurrency now sits less than 10% away from forming a new ATH beyond $3.40. If the uptrend continues and long-term holders remain steadfast, XRP could break past this resistance and set a new price record in the coming days.
However, if XRP retests $2.95 and fails to hold this support, the price could decline further. A break below this level would increase bearish pressure. This could potentially push XRP down to $2.73 or lower, invalidating the bullish thesis.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
XRP price started a consolidation phase from the $3.20 resistance zone. The price is now consolidating gains and might aim for more gains above the $3.20 zone.
- XRP price started a downside correction from the $3.220 zone.
- The price is now trading above $3.050 and the 100-hourly Simple Moving Average.
- There was a break above a bullish flag pattern forming with resistance at $3.10 on the hourly chart of the XRP/USD pair (data source from Kraken).
- The pair might start a fresh increase if it clears the $3.20 resistance zone.
XRP Price Eyes Fresh Gains
XRP price started a fresh increase above the $2.950 zone, outperforming Bitcoin and Ethereum. The price rallied above the $2.95 and $3.00 resistance levels.
A high was formed at $3.214 and the price recently corrected some gains. There was a move below the $3.10 level. The price dipped toward the 50% Fib retracement level of the upward wave from the $2.6560 swing low to the $3.214 high.
However, the bulls were active near $3.00 and pushed the price higher. There was a break above a bullish flag pattern forming with resistance at $3.10 on the hourly chart of the XRP/USD pair.
The price is now trading above $3.050 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3.150 level. The first major resistance is near the $3.20 level. The next resistance is $3.220.
A clear move above the $3.220 resistance might send the price toward the $3.320 resistance. Any more gains might send the price toward the $3.380 resistance or even $3.420 in the near term. The next major hurdle for the bulls might be $3.50.
Another Decline?
If XRP fails to clear the $3.150 resistance zone, it could start another decline. Initial support on the downside is near the $3.00 level. The next major support is near the $2.950 level.
If there is a downside break and a close below the $2.950 level, the price might continue to decline toward the $2.860 support or the 61.8% Fib retracement level of the upward wave from the $2.6560 swing low to the $3.214 high. The next major support sits near the $2.750 zone.
Technical Indicators
Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.
Major Support Levels – $3.00 and $2.950.
Major Resistance Levels – $3.150 and $3.20.
Market
XRP price prediction signals upward rally: Technical indicators suggest big run for WallitIQ (WLTQ) in February 2025
The crypto market is buzzing with optimism as XRP price predictions hint at an upward rally, drawing attention from traders and investors alike. However, the real standout in this dynamic landscape is WallitIQ (WLTQ), poised for an extraordinary surge by February 2025, according to technical indicators. While XRP shows promise, WallitIQ’s (WLTQ) explosive growth potential and unique market positioning make it the clear choice for those seeking unparalleled returns in the evolving crypto space.
Crypto Spotlight: WallitIQ (WLTQ) Eyes Huge Growth Potential
WallitIQ (WLTQ) is rapidly emerging as a standout cryptocurrency, capturing the spotlight with its trailblazing innovations and the potential for a staggering surge in February 2025. Technical indicators highlight WallitIQ (WLTQ) as the top high-reward investment opportunity, primed to outpace competitors with revolutionary tools reshaping the decentralized finance (DeFi) landscape. While the XRP price trajectory hints at growth, savvy investors are turning their focus to WallitIQ (WLTQ), drawn by its state-of-the-art advancements and brighter prospects.
The token’s strength lies in its unmatched security features, boosting trust among crypto enthusiasts. WallitIQ (WLTQ) integrates cutting-edge AI fraud detection, biometric authentication, facial recognition, and live verification, establishing a secure foundation that underpins its optimistic outlook for transformative gains in February 2025.
WallitIQ’s (WLTQ) presale is already attracting substantial interest, with individual and institutional investors flocking to acquire it at a remarkably low price of $0.0420 an exceptional chance to be part of its historic 30,000% run in February 2025.
Further solidifying its reputation, WallitIQ (WLTQ) has successfully undergone a complete SolidProof audit, guaranteeing transparency and minimizing risks. Its real-time smart contract monitoring improves its status as a secure and trustworthy investment.
With robust technology, unparalleled security, and explosive growth potential, technical indicators position WallitIQ (WLTQ) as a must-have for investors looking to ride the next wave of DeFi innovation and reap significant returns from its run in February 2025.
Riding The Wave: What’s Behind The XRP Price Surge?
The XRP price is capturing significant attention as it gears up for a potential upward rally. Recent predictions suggest that the XRP price could break past critical resistance levels, fueled by favorable technical indicators and growing adoption.
One factor driving this optimism is Ripple’s legal victories and partnerships, which have bolstered confidence in its ecosystem. As the XRP price hovers near pivotal thresholds, bullish sentiment grows among traders who anticipate strong momentum.
Market dynamics also favor the rise of the XRP price, as institutional interest and trading volumes surge. For those watching the XRP price, this rally could represent a significant opportunity. If support holds steady, the XRP price may continue climbing, delighting investors.
In conclusion, the XRP price stands at the brink of an exciting ascent, a testament to its resilience and potential for long-term growth.
WallitIQ (WLTQ) Presale: Revolutionizing Crypto Investments
Although the XRP price indicates an upward rally, crypto traders are increasingly turning their attention to WallitIQ (WLTQ)’s presale, drawn by its attractive entry price of $0.0420 and forecasts from several analysts that predict a surge of up to 30,000% in February 2025. WallitIQ (WLTQ) is quickly gaining recognition as a standout AI-powered altcoin, supported by cutting-edge technology that redefines decentralized finance (DeFi).
Its decentralized framework incorporates advanced AI capabilities such as adaptive machine learning algorithms, intuitive multimodal chatbots, and a revolutionary QR-based scan-and-pay system. These innovative features improve user engagement with DeFi platforms, making WallitIQ (WLTQ) both accessible and highly efficient in the fast-evolving crypto world.
Adding to its appeal, WallitIQ (WLTQ) offers a groundbreaking Crypto Wallet Management Mobile App. This app combines QR code payment functionality, simulated transaction tools for secure transfers, and real-time market insights powered by CoinGecko’s API, empowering users with informed decision-making capabilities for achieving massive returns in February 2025.
Traders are particularly excited by these state-of-the-art advancements, which they believe will drive WallitIQ (WLTQ)’s run and establish it as a premier investment. With surging presale momentum and increasing demand, this token presents a unique opportunity for forward-thinking investors to secure significant returns while embracing its ambitious February 2025 run.
Join the WallitIQ (WLTQ) presale and community:
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