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Robinhood Adds XLM To Crypto Transfers, XRP Next
Robinhood Crypto EU on Wednesday said it has decided to add Stellar (XLM) to crypto transfers, increasing the number of cryptocurrencies supported in the service. XLM price continued to drop as traders considered a broader market sentiment, with price down 1% in the last 24 hours. Will this likely lead to adding XRP next?
Robinhood Crypto Now Supports Stellar (XLM)
Commission-free investing app Robinhood Europe’s crypto arm in an official announcement on October 23 revealed that it has added XLM to cryptocurrencies supported in crypto transfers.
Moreover, users can withdraw and deposit their XLM on the platform for a 1% deposit bonus. It will be available for a limited time.
Robinhood Crypto now supports $XLM transfers.
Withdraw and Deposit #XLM with a 1% deposit bonus for a limited time.
Terms apply. Download the app: https://t.co/sb4gDoO6Ls#RobinhoodOnchain pic.twitter.com/sONd3LIhuY
— Robinhood Crypto EU (@RobinhoodCrypto) October 23, 2024
Crypto transfers allow European customers to deposit and withdraw over 25 cryptocurrencies, including Bitcoin, Ethereum, Solana, and USDC. It offers users control, security, and crime insurance, along with educational program benefits.
This week, the crypto platform also added Solana to crypto transfers as the Solana ETF launch odds buzz in the crypto community. Similarly, a potential launch of XRP ETF has also witnessed rising speculation. Robinhood listed XRP on the platform for trading, but for EU users only.
As CoinGape reported, the company excluded tokens from the crypto transfer feature launched earlier this month. These are Ripple’s XRP, zkSync (ZK), Wormhole (W), Arbitrum (ARB), Cosmos (ATOM), Polkadot (DOT), EOS, Fantom (FTM), Jupiter (JUP), Near Protocol (NEAR), Optimism (OP), Celestia (TIA), Toncoin (TON).
“With the launch of crypto transfers in Europe, we’re making self-custody and entering DeFi simpler and more accessible for our customers,” said Johann Kerbrat, VP and GM of Robinhood Crypto.
XLM Price Fails to Rebound
Traders didn’t respond to the announcement by Robinhood. XLM price continues to trade 1% lower in the last 24 hours. XLM price currently trades at $0.09429. The 24-hour low and high are $0.09434 and $0.09663, respectively. However, the trading volume has increased by 17% in the last 24 hours, indicating interest among traders.
On the contrary, the derivatives market has seen positive buying in the last 24 hours. Total XLM futures OI jumped over 3% to 320.31 million valued at $30.18 million, as per Coinglass data.
Varinder Singh
Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.
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.
Cardano price is currently facing downward pressure, with analysts pointing to key support levels that could determine its next move. The altcoin has broken below a parallel channel, signaling increased bearish momentum. Analysts suggest that unless ADA reclaims the $0.67 level as support, it may continue its decline, testing lower levels.
Cardano Price Critical Support at $0.67, Breakdown To $0.53?
The crypto market selloff has pushed the Cardano price below the $0.67 support level, raising concerns about further declines. Crypto analyst Ali Martinez highlighted that ADA is at a crucial juncture, with its structure showing lower highs and lower lows. If the downward trend continues, traders may see increased volatility, with ADA struggling to find a stable support zone.
ADA price action suggests that selling pressure remains strong. Analysts warn that failing to recover above $0.67 could lead to further downside, with the next major support level at $0.53. This level could act as a temporary accumulation zone, but if the selling momentum persists, a drop below $0.53 is possible.
The current trend aligns with broader market conditions, where cryptocurrencies are experiencing bearish sentiment. The $0.67 and $0.80 range remains the key zone for ADA recovery. However, without a strong rebound, ADA price could see further losses, reinforcing the ongoing downward trend.
Bearish Momentum Persists
Cardano price structure indicates weakening bullish momentum. Crypto analysts have noted that ADA inability to hold key support levels has intensified selling activity. The recent decline has confirmed a bearish pattern, suggesting that ADA may struggle to regain upward momentum.
The cryptocurrency is also facing technical resistance, making it difficult to reclaim previous price levels. If Cardano price fails to recover soon, traders may see increased liquidations, driving prices lower.
Moreover, ADA whales might take advantage of the crypto market selloff to accumulate more tokens at lower prices, anticipating a potential rebound. With ADA long-term holders facing losses, the current market sentiment could either trigger a recovery or extend losses if selling continues.
Additionally, bearish sentiment across the crypto market has contributed to ADA’s price weakness. If Bitcoin crash continues to decline, Cardano price could follow the trend.
Will Buyers Step in at $0.53?
If Cardano price falls to $0.53, buyers might step in to absorb the selling pressure. However, analysts warn that failing to hold $0.53 could expose ADA to deeper corrections, leading to further losses.
A recovery above $0.67 would be necessary for ADA to regain bullish momentum. If buying volume increases, ADA could stabilize and attempt to reclaim the $0.80 level.
Despite the crypto market crash, some analysts still forecast an ADA rally to $10, citing strong network activity and growing adoption. Charles Hoskinson’s emphasis on Midnight as Cardano’s biggest growth area has fueled optimism. At the time of writing, Cardano price is trading around $0.67, down over 5% in the last 24 hours.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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.
Crypto analyst Egrag Crypto has provided a bullish outlook for the XRP price, predicting that the crypto could rally to as high as $77. This prediction comes amid the correction in the broader crypto market, with XRP suffering a significant price decline.
Analyst Predicts XRP Price To Hit $77
In an X post, crypto analyst Egrag Crypto predicted that the XRP price could rally to $77. The analyst’s accompanying chart showed that XRP could reach this price target between now and 2026.
This bullish price prediction came as the analyst gave an update on XRP’s monthly Relative Strength Index (RSI). According to him, a double-top pattern is approaching. He added that the RSI must hold above 65. Otherwise, the crypto may touch the 14 Simple Moving Average (SMA). However, this may not be bad, as Egrag Crypto noted that historical data suggests this often precedes a significant pump.
Egrag Crypto also revealed that the Bollinger Bands on the RSI are currently showing a wide range. He remarked that historical cycles indicate that XRP often reaches the top of the band or even exceeds it on the second attempt. In line with this, the analyst remarked that market participants are not bullish enough for what is ahead.
This bullish outlook for the XRP price comes amid the recent crypto market crash, which saw Bitcoin, Ethereum, Solana, and even XRP drop significantly. As a result, XRP has dropped to number four on the crypto rankings by market cap.
A Potential Bounce From Current Price Levels
Egrag Crypto suggested that the XRP price could witness a bounce from its current level. In his analysis of the 4-hour chart, he noted that the crypto is witnessing three green candles after recording around seven consecutive red candles.
The crypto analyst remarked that if XRP can establish a solid foundation around the $2.07 level, it could confirm a double-bottom formation. He highlighted $2, $1.855, and $1.73 as three other potential targets that can still be considered as part of this formation.
The analyst’s chart showed that a bounce from these price levels could send the crypto back to its local highs and possibly pave the way for a rally to a new all-time high (ATH). A potential bounce for XRP will also likely depend on the Bitcoin price action.
Meanwhile, crypto analyst Ali Martinez suggested that the XRP price could still drop lower before it experiences a bounce. In an X post, he stated that the crypto is breaking out of an ascending parallel channel, targeting $1.65.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
Bitcoin price experienced a sharp decline, falling below $89,000 for the first time in three months on February 25. The crypto lost over 8% in value within a single day, triggering widespread concern among investors. However, Eric Trump, the son of U.S. President Donald Trump, took to X to encourage investors to capitalize on the crypto market selloff.
Eric Trump Encourages Investors to Buy the Dip
In a recent post on X, the son of U.S. President Donald Trump weighed in on the crypto market selloff, urging investors to “Buy the dips!” His message resonated with those who view corrections as a chance to accumulate Bitcoin at lower prices. Eric Trump’s statement sparked reactions across the crypto community, with some seeing it as a show of confidence in Bitcoin’s long-term potential.
Michael Saylor, Executive Chairman of Strategy, also responded to the crypto market decline. He referred to the price drop as a “Bitcoin sale,” hinting that his company may take advantage of the lower prices. Saylor has consistently supported Bitcoin and led Strategy to accumulate significant holdings over the years.
Reacting to Eric Trump’s tweet, the CEO of Strategy added,
“The best advice, volatility is a gift to the faithful.”
Despite optimism from some, skepticism remained among other financial experts. Gold advocate Peter Schiff dismissed the idea of buying the dip, warning that further declines could follow. Schiff has long criticized Bitcoin, arguing that it remains a speculative asset prone to severe price swings.
MicroStrategy Continues Expanding Its Bitcoin Holdings
Amid the crypto market selloff, Strategy, formerly MicroStrategy, confirmed another major Bitcoin acquisition. The firm announced a $2 billion purchase, securing 20,365 BTC at an average price of $97,514 per coin. This addition aligns with the company’s long-term accumulation strategy, which aims to hold $42 billion worth of Bitcoin over the next three years.
Following its latest purchase, Strategy’s Bitcoin holdings have grown to approximately 499,096 BTC, valued at around $47 billion based on current prices. This represents nearly 2.4% of Bitcoin’s total supply, positioning the company as the largest corporate Bitcoin holder.
The company has continued its buying strategy despite fluctuations in Bitcoin price. While some view this as a commitment to long-term investment, others caution that the strategy carries risks given the volatile crypto market.
A Buying Opportunity or Further Declines?
The broader crypto market also experienced losses, with Ethereum (ETH) dropping 9% to $2,405 and Solana (SOL) falling 7% to $143. Bitcoin’s market capitalization fell to $1.76 trillion, reflecting increased selling pressure across digital assets.
Meanwhile, Standard Chartered’s head of crypto research, Geoff Kendrick, suggested that Bitcoin could see further declines. He predicted an additional 10% drop, potentially bringing prices down to the early $80,000 range. Kendrick pointed to ongoing outflows from U.S. Bitcoin spot ETFs as a key factor that could contribute to extended losses.
BITCOIN COULD FALL FURTHER AFTER BREAKING BELOW $90K: STANDARD CHARTERED
Bitcoin has hit a three-month low below $90,000, and Standard Chartered’s Geoff Kendrick expects it to fall further. While still performing “relatively well,” bitcoin is caught in a broader cryptocurrency…
— *Walter Bloomberg (@DeItaone) February 25, 2025
While some, like Eric Trump and Michael Saylor, view the current crypto market selloff as an opportunity, others remain cautious about the potential for further downside.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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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