Altcoin
Is XRP Price Gearing Up For 2017 Like Rally? Here’s The Key Levels To Watch
XRP price was on the investors’ radar lately, with the crypto recently soaring past the $0.61 mark. Amid this, recent comments from the Ripple community have sparked hopes over a potential rally for the crypto like 2017 to repeat, which has previously sent it to its ATH of $3.84. Besides, the anticipation over the rally also soars with growing positive sentiments in the market like potential XRP ETF approval, clear regulations in the US, and others.
XRP Price To Repeat Its 2017 Rally?
The discussions over the XRP price repeating its 2017 rally stems from Ripple CEO Brad Garlinghouse’s recent comments on the crypto. The CEO said highlights that the crypto was the “2nd most valuable digital asset” six years back, and so many things have happened since then. He has highlighted several factors like SEC’s aggressive stance on crypto, the Ripple SEC lawsuit, and other factors that may have impacted its price.
Bill Morgan also highlighted the XRP’s superiority then, highlighting that it’s now in the eighth position. However, commenting on that post, an X user said that Ripple’s crypto had dropped to 8th position in November 2017 before its “epic rally” which sent it to the second position “almost” challenging Bitcoin’s position.
Considering that the market anticipates a similar performance in the coming days, it might help it to regain its second position in the market. Besides, a top analyst also recently predicted XRP to surpass Ethereum price in the coming days, further fueling market sentiment.
Ripple Market Developments Spark Market Sentiment
A flurry of investors anticipates a major rally ahead for XRP price, given a flurry of positive developments in the market. For context, the market highly anticipates a clear regulatory path for digital assets with Donald Trump’s election win. Besides, Trump’s victory has also sparked discussions over SEC Chair Gary Gensler’s exit from the office as soon as this year.
The report of the removal of the SEC Chair has bolstered market sentiment, as many see him as an anti-crypto regulator. Considering that, a flurry of market experts expects a potential launch of the XRP ETF in the US soon. Echoing the buzz, ETF Store President Nate Geraci recently said that there could be numerous filings for XRP, Solana, and Cardano ETFs this week.
Besides, the leadership changes are also likely to help in concluding the long-running legal cases. Having said that, many anticipate a potential settlement in the Ripple SEC lawsuit with more pro-crypto individuals in the regulatory bodies.
What’s Next For XRP Price?
XRP price was up 0.4% to $0.59, while its trading volume rocketed nearly 100% to $4.32 billion. The crypto has touched a 24-hour high of $0.61, with CoinGlass data showing its Futures Open Interest falling 1% to $890.81 million.
However, despite the dip in the Futures Open Interest, a top market analyst has shared an optimistic outlook on the crypto. In a recent X post, Dark Defender said that the crypto market is expected to witness a strong rally in November, with BTC dominance soaring.
Simultaneously, it would help XRP price to break its previous pattern and hit $0.6649. In addition, the analyst noted that maintaining its value above the $0.6649 mark would help the crypto touch the brief $1 mark soon.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news.
Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Dogecoin (DOGE) price has seen a retracement in the last 24 hours after failing to breach the resistance at the intra-day high of $0.4602. However, during the dip, Dogecoin whales have transferred over $100 million worth of DOGE, signaling significant market interest in the asset. Simultaneously, analysts anticipate that DOGE could potentially experience a 400% price surge in light of the heightened market interest amid a highly bullish Q4 market.
Whale Transactions Indicate Increased Market Activity
Recent reports reveal that two large transactions have taken place involving Dogecoin, involving over 249 million DOGE worth around $102 million. The first transaction saw 131 million DOGE transferred from an unknown wallet to Coinbase, while the second involved 117 million DOGE moved from Binance to an undisclosed wallet.
These large transfers could suggest that whales are positioning themselves for a possible price move, while also indicating heightened market interest.
The increased activity by major holders often signals potential price shifts. As DOGE trades above $0.40, many market participants are closely watching these large transfers, which may precede a breakout or retracement in price. In particular, the recent surge in derivatives trading volume by 77% suggests a rise in demand for Dogecoin, potentially setting the stage for the next big move.
Analyst Predicts 400% Dogecoin Price Surge
Market analyst Javon Marks has speculated that Dogecoin’s price could rise by 400% based on historical trends and Fibonacci extension levels. According to Marks, the meme coin is in its third bull cycle, following similar patterns from previous cycles in 2017 and 2021. The analyst believes that DOGE price could target the 1.618 Fibonacci extension, which currently sits at $2.28, up from its current price of around $0.42.
In his analysis, Marks points out that during the previous bull cycles, Dogecoin surged from its market bottom to the 1.618 Fibonacci extension level. In 2017, DOGE rose from $0.00009 to a peak of $0.8750, while in 2021, the asset moved from $0.00168 to its current all-time high of $0.73995.
Marks anticipates that a similar trend could unfold this time, with DOGE rising from its current cycle bottom at $0.06004 to $2.28. This represents a potential upside of 457% from the current price.
DOGE Bullish Pennant Formation Signal Breakout
Technical indicators are also signaling a bullish outlook for Dogecoin. The chart pattern currently forming suggests a Bullish Pennant, a continuation formation that typically precedes an upward breakout. After a strong price increase, DOGE has entered a consolidation phase, where it is currently trading near the $0.42 level. This consolidation may indicate a cooling-off period before the price makes another significant move.
The breakout from this pattern could propel Dogecoin to higher levels. If the price clears key resistance at $0.45 and $0.50, it could test the projected target level of $0.65. This would align with the bullish structure observed in previous cycles, where DOGE experienced substantial upward movements following similar consolidations.
As Dogecoin continues to consolidate, traders and analysts are keeping an eye on key support and resistance levels. The immediate support for DOGE lies at $0.40, where the price has recently stabilized. If this level holds, DOGE may be able to push through the next resistance at $0.45.
A breakout above this level could pave the way for further gains, potentially bringing DOGE closer to the $0.50 mark amid Dogecoin ETF anticipation. On the other hand, if the price fails to hold above $0.40, there could be a pullback to lower support levels at $0.35.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Analyst Who Correctly Called The XRP Price Jump From $1.4 To $2.8 Reveals The Rest Of The Prediction
A crypto analyst who accurately predicted the XRP price jump to the $2.8 milestone has made another bold prediction for the cryptocurrency. The analyst recently shared a technical analysis of XRP based on the Elliott Wave Theory, identifying price wave patterns and their implications on the cryptocurrency’s future trajectory in the mid-to-long term.
Analyst Accurately Projects XRP Price Rally Above $2.8
The XRP price has had a major price turnaround in the past weeks, shocking the broader crypto community as it continues on this strong bullish momentum. TradingView crypto analyst Behdark revealed that he had initially analyzed XRP at $1.4 before projecting its rise between the $2.7 and $4.2 targets.
The analyst disclosed that since this last analysis, the price of XRP has skyrocketed by over 105%, reaching key zones and confirming his above $2.7 projection. Data from CoinMarketCap revealed that the XRP price is currently trading at $2.71, marking a 12.6% increase in the last 24 hours.
Behdark has emphasized that the XRP price may be forming a “Running Triangle,” a consolidation pattern made up of the five waves of the Elliott Wave Theory: A, B, C, D, and E. Sharing a detailed XRP price chart, the TradingView analyst disclosed that the cryptocurrency was currently in Wave D, which is already nearing completion. This wave suggests that the XRP price may be getting closer to a resistance level, as indicated by the red zone on the chart.
The analyst revealed that XRP’s Wave D is targeting a new all-time high, signaling a potential for the cryptocurrency to briefly spike above critical resistance levels. He noted that after this sharp but brief price increase occurs, XRP is expected to correct downwards and officially enter wave E.
Following Behdark’s analysis, it appears that wave E may be the final consolidation phase of the Running Triangle. The analyst projects a major price rally above $15 once the triangle pattern completes. He disclosed that wave E indicates a strong bullish move for XRP that could potentially allow the cryptocurrency to hit new all-time highs this bull cycle.
XRP Price Eyes Massive Surge To $30
After accurately predicting XRP’s surge above $2.8, Behdark continued his technical analysis, further projecting that the cryptocurrency could surge close to the $30 price target. Based on his price chart, the analyst points to three potential long-term targets for the XRP price.
Firstly, the $30 price projection for XRP is a long-term target that the analyst believes the cryptocurrency can achieve by 2026. Behdark forecasted the future trajectory of XRP, predicting that it would surge to the key resistance zone at $3.1 by 2025 and then break past this level to settle between $5.5 and $6.5.
By 2026, XRP is projected to experience a deep correction back to the resistance zone at $3.1 before skyrocketing massively again to three main targets: $8 – $9, $14 – $17, and $25 – $30.
Featured image created with Dall.E, chart from Tradingview.com
In an effort to further uplift market sentiment, crypto exchange behemoth Binance issued a vital update on Stellar (XLM), KAIA, The Sandbox (SAND), EOS, and Ethena (ENA) tokens. Notably, the crypto exchange revealed on Tuesday that it is adding new trading pairs and trading bots services for the mentioned tokens. In turn, crypto market enthusiasts are thoroughly monitoring the tokens, expecting further gains in light of enhanced offerings.
Binance Expands Trade Offerings For XLM, KAIA, SAND, & These Crypto
In an official Binance release, the crypto exchange revealed that it is adding new trading pairs and bots services for certain tokens in an effort to expand the list of choices offered to users. In line with this commitment, the exchange revealed that it will commence trading for ENA/BRL, EOS/FDUSD, KAIA/USDC, SAND/USDC, and XLM in FDUSD and USDC trading pairs starting December 4 at 08:00 UTC. Further, the exchange unveiled that it will also enable Spot Ago Orders for the mentioned trading pairs on the same date and time.
Altogether, these enhanced offerings by one of the top cryptocurrency exchanges have sparked significant market optimism surrounding the mentioned crypto, offering increased market visibility and magnetizing investors toward them. Meanwhile, it’s also noteworthy that the exchange’s announcement encompassed some other enhanced offerings for specific tokens.
The exchange’s announcement revealed that Spot Grid and Spot DCA services for AVAX/USDC, METIS/USDT, RONIN/USDT, and XRP/EUR are to commence on the abovementioned date and time. Further, the exchange will also open rebalancing bot services for METIS/USDT and RONIN/USDT on the same date.
Overall, these enhanced offerings have sparked significant market discussions, with investors primarily eyeing a bullish impact on prices amid a Q4 power play in the crypto market.
How Are The Coins Performing?
In light of Binance’s enhanced offering XLM price soared nearly 4% in the past 24 hours and is trading at $0.5375. The coin’s intraday low and high were $0.5002 and $0.6012, respectively.
Similarly, KAIA price surged 25% intraday to rest at $0.3531. Its 24-hour low and high were $0.2867 and $0.415, respectively. SAND price also witnessed gains worth 28% intraday and is currently sitting at $0.7994. Its 24-hour bottom and top were $0.6053 and $0.8883, respectively. EOS price jumped 3% intraday and is sitting at $1.13. The token’s 24-hour low and high were $1.07 and $1.20, respectively.
While these rising trajectories sparked investor curiosity amid the tokens’ enhanced offerings, it’s noteworthy that Ethena witnessed a waning action. ENA price slipped 2% in the past 24 hours and is currently trading at $0.8224. The coin’s 24-hour low and high were $0.8029 and $0.8863, respectively. Nevertheless, market watchers continue to extensively eye these tokens, expecting further gains mirroring past chronicles.
Notably, LUNA, LUNC, and USTC prices witnessed an uptick as the same exchange expanded the leverage for Terra Luna’s perpetual contract. Primarily, LUNA gained 9% as the crypto exchange revealed updated leverage and margin tiers of LUNA2USDT. This chronicle has added significant optimism over the abovementioned tokens’ prices.
Meanwhile, in another similar chronicle, Solana’s CHILLGUY price witnessed remarkable gains as the same exchange launched a perpetual contract for the crypto. In light of these past chronicles, market enthusiasts are anticipating further gains in prices amid an ongoing bull cycle.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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