Market
Can XRP Price Increase to $0.70?
Ripple’s (XRP) price recently surged to $0.60, prompting renewed optimism around the broader market. While the price has again slid below the threshold, several indicators suggest that the token could bounce like it did six months ago.
In March, XRP’s price rallied to $0.72. This analysis highlights how XRP could move closer to that point again.
Interest in Ripple’s Native Token Picks Up
According to CryptoQuant, XRP’s Taker Buy/Sell Ratio rose to 1.06 on September 21, coinciding with the cryptocurrency’s climb to $0.60. The following day, the ratio dropped to 0.88.
The Taker Buy/Sell Ratio measures the volume of buys versus sells in the derivatives market, with values above 1 signaling bullish sentiment and values below 1 indicating bearishness.
As of this writing, the ratio has climbed back to 0.93, suggesting XRP traders may be turning bullish again and that the recent decline could be temporary.
Read more: 9 Best Crypto Desktop Wallets for 2024
Another indicator supporting a potential bullish outlook for XRP is Ripple’s Open Interest (OI). Open Interest represents the total number of open contracts in the derivatives market. When OI increases, it indicates that traders are allocating more money to XRP, gaining greater exposure to the cryptocurrency.
Conversely, a decrease in OI suggests net positioning is declining, with liquidity being pulled from the market. According to Santiment data, XRP’s Open Interest has risen to $710 million. This increase suggests that XRP’s price could recover some of its recent losses, as more traders are engaging in the market.
XRP Price Prediction: Bullish Moves Ahead
On the daily chart, the token seems to be facing resistance at $0.60. Due to this, the XRP’s price dropped to $0.58. However, the same chart shows notable support at $0.57, suggesting that the altcoin might not slide below this region in the short term.
A long-term analysis reveals that $0.70 is a key level that attracted significant liquidity in the past. If XRP experiences increased buying pressure, it could potentially break through the upper resistance level at $0.67 and move toward $0.70.
Read more: XRP ETF Explained: What It Is and How It Works
If XRP surpasses the $0.67 resistance level, its next major target could be a potential 20% rally toward $0.70. However, if the cryptocurrency faces rejection, it could fail to reach this goal and instead drop to $0.52.
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.
Market
Biggest Altcoin Gainers Of The Fourth Week of January 2025
The crypto market experienced significant volatility this week as Bitcoin surged to $107,000. This movement caused some altcoins to face drawdowns while others emerged as top performers, delivering impressive profits to investors.
BeInCrypto has identified three standout altcoins that ranked among the week’s biggest gainers and explores what investors can anticipate next.
GateToken (GT)
GT has seen a 23% rise this week, reaching a new all-time high of $25.96 during the latest intra-day session. This consistent upward momentum has captured investor attention, positioning the altcoin as one of the top-performing altcoins in the current market.
Despite occasional bearish market cues, GT has yet to experience a sharp correction. This resilience reflects strong investor confidence and a bullish sentiment surrounding the token. If this momentum continues, GT could extend its rally and achieve further milestones in the coming days.
However, significant profit-taking could lead to a decline, with the altcoin testing critical support at $19.89. A drop below this level could invalidate the bullish outlook and signal increased bearish pressure.
KuCoin Token (KCS)
KCS experienced a 16% rise this week, with most of the gains occurring in the last 72 hours. The altcoin is currently trading at $13.12, reflecting growing investor interest and strong upward momentum as it seeks to sustain its recent rally.
The altcoin recently breached the $13.74 resistance level after establishing solid support at $12.47. If the bullish momentum persists, KCS could close above this barrier, paving the way for further gains.
However, a drop from the current price below $12.47 could trigger a decline to $11.52. Such a move would invalidate the bullish outlook, erasing recent gains and signaling potential bearish sentiment.
OFFICIAL TRUMP (TRUMP)
TRUMP has solidified its position as one of the week’s top-performing and most trending tokens, recording an impressive 112% rise. This surge reflects strong investor interest, bolstered by market sentiment and the token’s recent developments, keeping it in the spotlight among meme coins.
Despite its overall growth, TRUMP has experienced some volatility and is currently attempting to regain the $30 support level. Flipping $34 into support could help the token recover recent losses and maintain its bullish trajectory. This move would signal renewed momentum, encouraging further investment in the token.
However, trading at $27.46, TRUMP faces risks of falling further. If it loses the critical support at $26.09, the token could drop to $21.04. Such a decline would invalidate the bullish outlook, raising concerns about sustained bearish momentum.
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.
Market
Potential Grayscale Litecoin ETF Sparks 25% Rally In LTC Price
Litecoin’s price surged by 25% this week following news that Grayscale filed for a spot Litecoin ETF, sparking demand from institutional investors.
The move validated the efforts of long-term holders (LTHs), whose support has anchored LTC through market fluctuations. This development has positioned Litecoin as a standout performer in the cryptocurrency market.
Litecoin Has Its Investor’s Support
Long-term holders have played a critical role in stabilizing Litecoin. The MVRV Long/Short Difference indicator remains highly positive, signaling that LTHs are in profit. These investors, known for their tendency to HODL rather than sell, provide essential support, reducing the likelihood of sharp corrections.
This behavior has created a strong foundation for Litecoin, enabling it to sustain rallies even during periods of market volatility. By holding onto their assets, LTHs act as the backbone of Litecoin, ensuring that the cryptocurrency maintains momentum and garners investor confidence.
The macro momentum for Litecoin remains bullish, supported by the IOMAP metric. Data reveals that investors bought over 2 million LTC, valued at more than $256 million, within the $128 to $135 range. This supply becomes fully profitable once Litecoin flips $136 into support, reinforcing positive sentiment.
This concentration of profitable investors is likely to keep sentiment optimistic. Anticipation of breaking the $136 resistance level has fueled bullish momentum, as investors remain confident that LTC can sustain its upward trajectory. The substantial backing at these levels further solidifies the asset’s potential for continued growth.
LTC Price Prediction: Flipping Key Barrier Into Support
Litecoin has risen by 25% in the past 24 hours, currently trading at $128. The altcoin now faces resistance at $136, which will be critical for maintaining its bullish momentum and enabling further gains.
If Litecoin breaches and flips $136 into support, it could unlock the $256 million in profits tied to this level. Such a move would likely propel LTC to $147, marking a significant step in its ongoing rally and validating investor confidence.
However, Litecoin price’s failure to break above $136 could result in a decline to $117 or even $105. This would erase a significant portion of recent gains, invalidate the bullish outlook, and delay the realization of anticipated profits.
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.
Market
Virtuals Protocol Targets Solana for AI-Driven Innovation
Virtuals Protocol, a decentralized platform for launching AI agents, has announced its expansion to the Solana blockchain.
This move aims to foster multichain availability while empowering builders and driving innovation within the ecosystem.
Virtuals’ Multichain Ambition
On January 25, Virtuals Protocol confirmed its expansion from Base to Solana. The protocol highlighted that this step marks the beginning of a new chapter, enabling it to grow its community and create more value for developers.
Virtuals aim to unlock new growth opportunities by leveraging Solana’s advanced scalability and active developer community,
“We are beyond excited to announce Virtuals’ expansion to Solana, marking a significant step in our journey to empower builders and drive innovation across multiple ecosystems. Solana, known for its speed, scalability, and vibrant community, is the perfect place for us to grow and bring our vision to life,” Virtuals said.
EtherMage, the protocol’s pseudonymous lead developer, described this expansion as the first of many steps toward building a diverse and robust multichain ecosystem. According to him, the move would help to realize their vision of an interconnected and autonomous digital society.
He noted that dedicated teams are already in place to collaborate with Solana and other blockchain communities. These teams will focus on funding, mentorship, and visibility for projects building within the Virtuals ecosystem.
“Going multi-chain is important for our vision of an agentic society. Diversity of agents is a critical component for autonomous businesses, autonomous societies. Solana is the first step. We are building support across several other chains as well,” EtherMage wrote on X.
Virtuals’ Plan for the Solana Ecosystem
Virtuals Protocol has outlined several initiatives tailored to Solana. Among these is the Meteora Pool, a platform feature designed to create fresh opportunities for trading and engagement.
Additionally, 1% of the trading fees generated will be converted to SOL and allocated to the Strategic SOL Reserve (SSR) to reward contributors and enhance Solana’s ecosystem.
The protocol has also introduced a grant program to boost development across both Base and Solana ecosystems. Under this program, projects on these chains can access 42,000 $VIRTUAL tokens to support early-stage growth.
Looking ahead, Virtuals is set to host an AI Hackathon in March in partnership with the Solana Foundation. This event aims to offer technical mentorship and support to developers, further reinforcing the protocol’s commitment to fostering innovation.
Virtual protocol has emerged as a top-performing platform in the crypto space, benefiting from the growing demand for AI-driven solutions. Its multichain expansion to Solana signals its dedication to shaping the future of decentralized AI and supporting a thriving developer ecosystem.
“Virtuals joining the Solana ecosystem is not just an expansion — it’s the beginning of a new chapter. We’re here to create value, empower builders, and grow the Virtuals Nation to new heights,” the team concluded.
Despite news of the expansion, Virtuals’ native VIRTUAL token is down more than 4% in the last 24 hours to $2.54 as of press time, according to BeInCrypto data.
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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