Altcoin
Top Reasons Why Bitcoin, ETH, XRP, DOGE Prices Are Rising
The crypto market has witnessed robust gains today, as noted by the significant advancement in themajorcrypto prices. Notably, most of the major cryptos like Bitcoin, Ethereum, Solana, XRP, Dogecoin, and others have rallied today, reflecting the growing interest of traders in digital currencies. So, let’stake alook at the potential reasons that may have bolstered the investors’ confidence today.
Crypto Market Rallies, Here’s Why
A flurry of reason has helped gains in the digital asset sector, sending the crypto prices to new heights after volatile trading over the past few weeks.Notably, with soaring interest in the Ethereum ETF approval,there are other reasons as well thathave sparked optimism among the market participants.
Ethereum ETF Fuels Crypto Market Confidence
The increasing odds of the Spot Ethereum ETF approval by the U.S. SEC have raised market confidence, as evidenced by the soaring price of Ethereum today. Notably, Ethereum (ETH), the world’s second-largest cryptocurrency, surged nearly 20% in the past 24 hours, fueled by growing optimism forthe approval ofa spot Ethereum ETF.
Meanwhile, this bullish momentum follows the U.S. SEC’s push for issuers to update their 19b-4 filings, significantly increasing the chances of ETF approval. Senior Bloomberg analysts now estimate a 75% likelihood of approval, up from 25% earlier.
It’s worth noting that the first decision on the VanEck Spot Ethereum ETF is expected by Thursday, May 23, potentially causing further price volatility. However, with soaring optimism, Ethereum’s price climbed above $3,650 for the first time since April 9.
Notably, this optimism has also positively impacted the broader altcoin market, with significant gains across various digital currencies. Meanwhile, on-chain analytics firm Santiment noted the widespread market cap increase, highlighting the ripple effect of Ethereum’s bullish trend on the entire crypto market.
Also Read: Here’s Why the Ethereum (ETH) Price is Rising Heavily Today
Bullish Predictions
With the soaring Ether ETF approval optimism, several market pundits have provided a bullish outlook for the Ethereum price. For context, QCP Capital has recently said that if the Ethereum ETF receives approval by the U.S. SEC, the ETH price hit $4,000 in the shortterm,and $5,000 in the ongoing year.
Echoing the bullish sentiment,popularcrypto marketanalyst,Miles Deutscher said that Ethereum could rally to $6,400.Evaluating the performance of Bitcoin following the Spot Bitcoin ETF approval in the U.S., he has predicted that if the same momentum follows, Ethereum is likely to hit $6,446 by July end.
However, QCP Capital, along withseveral other marketwatchersalso warned that if the SEC delays in approving the investment instrument, it could cause heightened volatility in the broader market.
Bitcoin ETF Inflow
The U.S. Spot Bitcoin ETF has continued to gain attention from the global market participantswith its significant inflows.After noting a positive momentum last week, with inflows totaling around $950, this week also started with a bullish note.
According toFarside Investors,the overall inflow into the Spot Bitcoin ETFs was $237.2 million on Monday, May 20.Ark Invest’s ARKB topped the list with a $68.3 million influx, with BlackRock’s IBIT recording $66.4 million in fund flows. Notably, the Grayscale’sexodusalso seems to beabating, with GBTC recording an inflow of $9.3 million.
Crypto Bill Gaining Support
The crypto market rally today couldbe alsodriven by significant regulatory developments in the U.S.The Blockchain Association recently sent a letter to Speaker Johnson and Representative Jeffries, urging legislativesupport for the Financial Innovation and Technology for the 21st Century Act (FIT21Act).
Meanwhile, this proposed act aims to provide a clear regulatory framework, fostering innovation while ensuring consumer protection. The letter, backed by the Crypto Council for Innovation and 60 other entities, highlights the industry’s consensus on the necessity of this legislation.
In addition, influential firms like Andreessen Horowitz, Coinbase,and Circle, along withkey lawmakers, have endorsed the bill. The FIT21 Act seeks to define the jurisdiction of digital assets between the CFTC and SEC, promising safer and more efficient markets. Besides, this regulatory clarityis anticipatedto boostinvestor confidence and drive sustainable growth in thecrypto sector.
Bottom Line
The crypto market has witnessed positive momentum since last week, as the investors seem to have regained confidence in the digital asset space. In addition, the recent cooling of U.S. CPI inflation data has also fueled the investors’ sentiment in the broader financial space, let alone the crypto market.
Meanwhile, with soaring bets towards the Ethereum ETF approval and clarity on the crypto regulations, the traders seem to be shifting their focus towards the cryptos. As of writing, the Bitcoin price surged 6.11% over the last 24 hours and traded at $70,918.95, with its one-day trading volume rising 129.96% to $52.87 billion.
Simultaneously, the Ethereum price rose 17.80% to $3,655.47, and the Solana price jumped 2.32% to $181.68. In addition, the XRP price noted gains of 5.67% to $0.5431, while the leading meme coin, Dogecoin price added 8.40% to $0.1643.
According to CoinGlass data, the Bitcoin Futures Open Interest rose 7.48% to 499.91k BTC or $35.52 billion. Simultaneously, the Ethereum Open Interest advanced 25.95% to $14.65 billion from yesterday.
Also Read: Pro-XRP Lawyer Says SEC Knows Ripple ODL Sales Are Not Investment Contracts
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.
Payments company Ripple has partnered with HashKey Capital to launch Asia’s first XRP tracker fund. The new fund will track the price of XRP cryptocurrency, as per statements from both firms.
Ripple Steps In As Anchor Investor
Crypto community figure Crypto Eri first highlighted the partnership, noting that the San Francisco payments firm will invest in the new HashKey XRP Tracker Fund.
The fund is a major step towards extending institutional access to XRP in Asian markets. As HashKey reports, this is the first of potentially several such investment products in the region following the price performance of XRP.
Big XRP News in Japan 🇯🇵. @Ripple to make initial investment in Asia’s first #XRP investment product.
Professional investors get exposure to XRP without directly holding the asset. Investors can purchase the fund with cash or in-kind, and the fund is structured to accommodate… pic.twitter.com/Phs3UrVrAQ
— 🌸Crypto Eri ~ Carpe Diem (@sentosumosaba) April 18, 2025
Image: Kraken Blog
How The Fund Works For Investors
Investors of the fund may have flexible involvement options. The investors may give their contributions through conventional fiat monies or pay in kind. The structure of the fund grants the subscribers liberty to purchase or redeem shares per month.
HashKey’s Liquid Fund partner Vivien Wong identified XRP’s increasing relevance in the crypto space. She indicated that XRP has interested global companies that utilize it for different things, including tokenization of assets and as a store of value.
Ripple Sees Growing Demand In Asia-Pacific
Fiona Murray, the Managing Director of Ripple for Asia-Pacific, underlined the heightened demand for digital asset products within regulated frameworks for professional investors across the region.
The firms are not only focusing on the tracker fund. According to reports, they intend to seek other opportunities as well, such as introducing a money market fund on the XRP Ledger (XRPL).
Broader Context Of XRP Investment Growth
HashKey Capital has become a leading player in the cryptocurrency industry. The firm already provides investment products linked to Bitcoin and Ethereum, with both the Bosera HashKey Bitcoin Spot ETF and the Bosera HashKey Ethereum Spot ETF listed on the Hong Kong Stock Exchange.
The new XRP tracker fund is HashKey’s third cryptocurrency-tracking investment product. The company says it will convert the XRP product into an exchange-traded fund within two years, subject to required regulatory approvals.
This follows increased institutional demand for XRP. In the US, over 11 institutions have submitted applications to the US Securities and Exchange Commission to list spot-based XRP ETFs.
Featured image from Medium, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
The price of Cardano has managed to stay resilient as market volatility has continued to grow, riding on new signals for ADA bulls to drive growth. Cardano has remained on the horizon over the past few weeks as it locked in to retail its ranking as the 10th largest cryptocurrency.
With technical indicators showing a potential rebound, such as the golden cross metric, the question remains whether the ADA price can break out of its current consolidation.
ADA and Mission With Market Bulls
Cardano’s price was $0.6282 at the time of writing, up marginally by 0.64% in 24 hours. ADA bounced back from a low of $0.6197 to a high of $0.6340 to extend its ongoing consolidation.
Despite this close trading range, the asset’s price will likely benefit from the positive shift in Open Interest. This metric, as measured by CoinGlass data, has jumped by over 4% in the past 1 hour, a visible change in direction.
With this short-term shift, the total funds committed to ADA in the market are now pegged at 1 billion, worth over $629 million. Open Interest is a key metric that depicts the total value of contracts opened in the derivatives market. The bigger this figure in dollar terms, the more likely a trend shift is.
This current adoption boost has placed the ADA price in the spotlight. With speculation growing on whether the ADA price could hit $3 or higher levels, commitment in the derivatives market can reshape sentiment.
Cardano Price and Golden Cross Setup
Over the past 7 days, the price of the top altcoin, now capped below the $0.6677 resistance level. However, this will change if the current Golden Cross formation plays out.
Per the ADA/USDT daily chart, two major indicators are flashing unique signals that must be watched closely. The Awesome Oscillator is still reading negative, a sign that, though bears remain in control, the excessive selloff might be thinning out.
The Golden Cross, on the other hand, is on the verge of a breakout. The short-term or 9-day Moving Average is about to exceed the long-term or 21-day moving average. If this trend materializes, the Cardano price breakout will be confirmed.
With this signal, an ADA price analysis that teased $4 may be possible despite recent whale selloffs.
Cardano In the News
Amid the sustained dynamic trends in the crypto market today, ADA has remained in the spotlight over the past week.
As reported by CoinGape, the long-anticipated Cardano-Bitcoin staking is likely to become a reality soon. This is a major complement to the growing list of ADA ETF products now filed with the Securities and Exchange Commission (SEC).
If approved alongside other altcoin ETFs, it might usher in another era of institutional adoption for Cardano, setting the coin up for price breakout.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
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 Master Kenobi has provided a bullish outlook for the Dogecoin price, predicting that it could reach a new all-time high (ATH) in 55 days. He revealed what needs to happen for DOGE to achieve this milestone by June, based on his 55-day target.
How The Dogecoin Price Could Reach A New ATH By June
In an X post, Master Kenobi stated that the Dogecoin price will likely reach a new all-time high within approximately 50 to 55 days once it breaks above the trendline he highlighted on his accompanying chart.
The chart showed that the crucial price level DOGE needs to break above, based on this trendline, is $0.15488. The analyst then remarked that a conservative price target for the top meme coin would be $0.90 by June 5-10.
Master Kenobi had made this prediction while alluding to an earlier post in which he indicated that the Dogecoin bottom was almost near. In that post, he stated that the last time DOGE experienced a downturn, there was a 100-day period from the local bottom to the local top. He noted the meme coin is now halfway through a similar timeframe.
In line with this, the crypto analyst expects the Dogecoin price to reach a new all-time high (ATH) during this period, although he admitted that it is unclear whether it will break the psychological $1 level.
Crypto analyst Kevin Capital also suggested that a massive rebound was on the horizon for the DOGE price. In an X post, he stated that everything is going according to plan for Dogecoin. He urged market participants to stay patient, noting that every day that passes is another day closer.
DOGE Traders Remain Undecided At The Moment
In an X post, crypto analyst Trader Tardigrade indicated that DOGE traders are currently undecided on the meme coin’s next move. In an X post, he stated that the Dogecoin price structure has been converging into a triangle pattern, indicating market indecision.
He noted that during this period, buyers hesitate to buy high, while sellers are cautious about selling low, leading to conservative behavior on both sides. The analyst added that this pattern typically occurs between a downtrend and an uptrend.
This market indecision currently explains why DOGE investors continue to accumulate and dump their coins at will with no clear sign of active accumulation or a wave of sell-offs. As CoinGape reported, crypto whales recently dumped 570 million DOGE, as the Dogecoin price continues to trade sideways.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. 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, a traveler 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.
Ripple Expands In Asia With Debut XRP Investment Tool
Cardano Bulls Secure Most Important Signal To Drive Price Rally
Technical Analyst Warns Ripple’s XRP Price Could drop 50%
SUI Ranks 5th in DEX Volume, But Rally Lacks Strength
John Deaton Lays Out 5 To-Do List
5 Crucial Red Flags Investors Missed
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market22 hours agoMatchain’s Petrix Barbosa Talks the Future of Digital Identity
-
Market23 hours agoBase Launches Strong, But Content Coins Draw Doubt
-
Altcoin20 hours agoLorenzo Protocol (BANK) Price Rallies 150% After This Binance Announcement
-
Market19 hours agoDespite an 18% Drop, XRP’s Exchange Supply Hits Lows—Bullish Setup Ahead?
-
Market16 hours agoXRP Consolidation About To Reach A Bottom, Wave 5 Says $5.85 Is Coming
-
Market13 hours agoCardano (ADA) Moves Sideways, But Bullish Shift May Be Brewing
-
Altcoin9 hours ago
Analyst Reveals Dogecoin Price Can Reach New ATH In 55 Days If This Happens
-
Market15 hours agoCanary Capital Aims to Launch TRON-Focused ETF
✓ Share: