XRP price started a fresh recovery wave above the $2.00 zone. The price is now showing positive signs and might clear the $2.250 resistance zone.

• XRP price started a fresh recovery wave above the $2.120 resistance zone.
• The price is now trading above $2.150 and the 100-hourly Simple Moving Average.
• There is a short-term bullish trend line forming with support at $2.188 on the hourly chart of the XRP/USD pair (data source from Kraken).
• The pair might continue to move up if it clears the $2.250 resistance zone.

XRP Price Eyes Upside Break

XRP price remained supported and started a recovery wave from the $1.90 zone, like Bitcoin and Ethereum. The price was able to clear the $2.00 and $2.050 resistance levels.

There was a move above the $2.120 resistance. The price surpassed the 50% Fib retracement level of the downward wave from the $2.365 swing high to the $1.90 low. However, the bears are now active near the $2.250 resistance zone.

The price is now trading above $2.150 and the 100-hourly Simple Moving Average. There is also a short-term bullish trend line forming with support at $2.188 on the hourly chart of the XRP/USD pair.

On the upside, the price might face resistance near the $2.250 level. It is near the 76.4% Fib retracement level of the downward wave from the $2.365 swing high to the $1.90 low. The first major resistance is near the $2.3650 level.

The next resistance is $2.450. A clear move above the $2.450 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.550 resistance or even $2.650 in the near term. The next major hurdle for the bulls might be $2.80.

Another Decline?

If XRP fails to clear the $2.250 resistance zone, it could start another decline. Initial support on the downside is near the $2.1880 level and the trend line. The next major support is near the $2.120 level.

If there is a downside break and a close below the $2.120 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $2.180 and $2.120.

Major Resistance Levels – $2.250 and $2.350.

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The LIBRA meme coin scandal, which sent shockwaves through Argentina’s political and financial spaces, has entered a new phase. Argentine lawyer Gregorio Dalbón has formally requested an international arrest warrant for Hayden Davis, the alleged key figure behind the token’s collapse.

Meanwhile, the Libra price remains steeply declining amid frothing FUD (fear, uncertainty, and doubt), with the broader bearish market outlook exacerbating the losses.

Argentine Lawyer Pursues Legal and Financial Fallout in Libra Scandal

Dalbón, who also represented former Argentine President Cristina Fernández de Kirchner in a corruption case, filed the petition on Tuesday. Local media Página12 reported that other legal experts in the case include lead prosecutor Eduardo Taiano and Judge María Servini.

The request seeks an Interpol Red Notice for Davis. It urges law enforcement worldwide to locate and provisionally arrest him pending extradition from the US. Dalbón’s petition argues that Davis poses a significant flight risk due to his financial resources and foreign residence.

“Given the magnitude of the scandal and the significant losses caused to investors, the procedural risk implied by Hayden Mark Davis remaining free is evident,” Argentina local media Perfil wrote, citing the petition.

Dalbón also contends that Davis played a “central role in creating and promoting LIBRA.” He says this reinforces allegations that the token’s launch and subsequent collapse were orchestrated for insider profit.

The push comes as this scandal deeply implicated President Javier Milei’s administration. This worsened after he publicly promoted the LIBRA token shortly before its catastrophic price crash. The case has sparked major controversy in Argentina, with authorities already moving to freeze approximately $100 million in crypto linked to the scheme earlier this month.

LIBRA Insiders Profited While Investors Lost Millions

Blockchain analysis firm Nansen recently reported that retail investors suffered staggering losses of $251 million. Meanwhile, wallets associated with Davis and another key figure, Kelsier, extracted significant profits before the token’s collapse.

Blockchain investigator Bubblemaps also uncovered evidence of market manipulation. It cited tactics such as “sniping” – using bots to buy tokens early and control liquidity.

Davis admitted to these tactics, claiming they were designed to prevent an immediate collapse and reinvest liquidity once President Milei resumed promoting the token. However, this strategy failed, leaving retail investors with heavy losses while insiders suffered substantial gains.

Further investigations linked the LIBRA meme coin team to other controversial crypto projects. Reports indicate connections between LIBRA insiders and MELANIA. The LIBRA team reportedly discussed launching a similar token with the Nigerian government, raising concerns about repeated exploitative crypto ventures across multiple countries.

The ripple effects of the scandal have also led to significant shake-ups in the crypto industry. Ben Chow, co-founder of the decentralized finance platform Meteora, recently resigned amid the controversy. This highlights the broader impact of the LIBRA debacle on the crypto ecosystem.

If Dalbón’s request for a Red Notice is approved, Interpol will distribute it to its 195 member countries. While a Red Notice does not mandate arrests, it signals to law enforcement agencies worldwide that Davis is wanted for extradition.

Data on CoinGecko shows that the LIBRA meme coin was trading for $0.06435 as of this writing, down over 12% in the past 24 hours.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Solana started a recovery wave above the $120 resistance zone. SOL price is now consolidating and might struggle to recover above the $132 resistance.

• SOL price started a fresh decline below the $150 and $140 levels against the US Dollar.
• The price is now trading below $130 and the 100-hourly simple moving average.
• There is a short-term rising channel forming with support at $124 on the hourly chart of the SOL/USD pair (data source from Kraken).
• The pair could start a fresh increase if the bulls clear the $132 zone.

Solana Price Faces Resistance

Solana price struggled to clear the $155 resistance and started a fresh decline, like Bitcoin and Ethereum. SOL declined below the $140 and $132 support levels.

It even dived below the $120 level. The recent low was formed at $114 before the price recovered some losses. It climbed above the $120 and $122 levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.

Solana is now trading below $130 and the 100-hourly simple moving average. There is also a short-term rising channel forming with support at $124 on the hourly chart of the SOL/USD pair.

On the upside, the price is facing resistance near the $128 level. The next major resistance is near the $130 level. The main resistance could be $132 and the 50% Fib retracement level of the downward move from the $151 swing high to the $114 swing low.

A successful close above the $132 resistance zone could set the pace for another steady increase. The next key resistance is $140. Any more gains might send the price toward the $150 level.

Another Decline in SOL?

If SOL fails to rise above the $132 resistance, it could start another decline. Initial support on the downside is near the $124 zone. The first major support is near the $120 level.

A break below the $120 level might send the price toward the $114 zone. If there is a close below the $114 support, the price could decline toward the $100 support in the near term.

Technical Indicators

Hourly MACD – The MACD for SOL/USD is losing pace in the bullish zone.

Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is near the 50 level.

Major Support Levels – $124 and $120.

Major Resistance Levels – $128 and $132.

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