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RLUSD, XLM Surge, FIFA NFT Game

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This week’s crypto calendar is packed with major events and bullish stories, including the potential approval of Ripple’s Stablecoin, XRP overthrowing BNB with a $100 billion market cap, XLM’s 50% surge following a Grayscale Stellar Lumens Trust filing, and FIFA’s new NFT game. 

Additionally, Binance has delisted eight altcoin trading pairs from its spot market, while MicroStrategy is planning to add more Bitcoin to its portfolio. Here are the top crypto news this week:

Grayscale Filing Boosts Stellar Lumens (XLM) Price by 58%

Stellar Lumens (XLM) surged by 58% this week, reaching $0.53—its highest price since 2021. This sharp increase follows a 10-K filing from Grayscale Investments for its Stellar Lumens Trust. The filing, submitted on November 23, detailed a 10% growth in the trust’s net assets over the last fiscal year.

Steller XLM price
Steller (XLM) Price Throughout The Week. Source: BeInCrypto

A 10-K filing provides detailed financial information and risk factors for publicly traded companies. The positive sentiment surrounding the filing likely fueled the strong market response for XLM.

“Stellar recently broke and closed above a key weekly horizontal resistance. Retesting the broken structure, the price broke a resistance line of a falling wedge pattern on a 4H time frame. It indicates a strong bullish potential and a highly probable coming-up movement. I expect a growth at least to 0.6 level,” popular crypto enthusiast Andrew Griffiths wrote on X (formerly Twitter). 

Ripple Stablecoin Approval Expected by December 4

Ripple is preparing to launch its regulated stablecoin, RLUSD, pending approval from the New York Department of Financial Services (NYDFS). As BeInCrypto reported, the stablecoin will likely debut on December 4, marking Ripple’s entrance into New York’s regulated digital finance market.

This move puts Ripple in direct competition with stablecoin issuers like Circle and Paxos. Partnerships with platforms such as Bitstamp and Moonpay aim to ensure broad accessibility for RLUSD users.

Meanwhile, Ripple’s XRP token surpassed BNB in market cap, crossing the $100 billion mark for the first time in three years. XRP’s value has risen over 230% this month amid growing investor optimism.

XRP Price Performance Throughout November. Source: BeInCrypto

Binance Delists Eight Altcoin Trading Pairs

Another top crypto news this week is that Binance announced plans to delist eight altcoin trading pairs on December 10. This will include GFT/USDT, IRIS/BTC, IRIS/USDT, KEY/USDT, OAX/BTC, OAX/USDT, REN/BTC, and REN/USDT. The exchange cited periodic performance reviews and low liquidity as reasons for the delistings.

Prices for affected tokens, including GFT and OAX, dropped nearly 30% following the announcement, reflecting investor concerns over their future viability. Binance advises users to adjust their holdings before the removal date.

MicroStrategy Eyes Bitcoin Purchases with $3 Billion Funding

MicroStrategy co-founder Michael Saylor hinted at new Bitcoin acquisitions after the company secured $3 billion through convertible debt issued on November 22. The notes, offered privately to institutional investors, will mature in 2029 and carry a premium strike price of $672 per share.

Meanwhile, MicroStrategy remains the largest corporate Bitcoin holder. The company currently holds 386,700 BTC worth over $37.5 billion. Saylor’s comments suggest the company may continue its aggressive Bitcoin strategy.

List of MicroStrategy’s Bitcoin Purchases in 2024. Source: Bitbo

As BeInCrypto reported, FIFA has partnered with Mythical Games to develop FIFA Rivals, a mobile football game expected to launch in mid-2025. Players can create and manage football clubs and compete in real-time matches.

“FIFA Rivals is designed to be highly accessible, featuring a shallow learning curve coupled with advanced features for hardcore players to explore. The partnerships we have with both the NFL and with FIFA should open the door for other collaborations between web3 games studios and major sports titles,” Nate Nesbitt, spokesperson for Mythical Games, told BeInCrypto. 

The game will include an NFT marketplace, allowing players to trade football stars as digital collectibles. Mythical Games aims to replicate the success of its NFL Rivals title by integrating NFTs into FIFA Rivals.

Chirp Introduces DePIN Play-to-Earn Game

Chirp, operating on the Sui blockchain, launched Kage, a play-to-earn game combining entertainment with real-world utility. Players use their smartphones to detect nearby wireless networks, earning CHIRP tokens for their activity.

As the first game to integrate DePIN (Decentralized Physical Infrastructure Networks), Kage highlights the growing trend of blockchain-based P2E models offering real-world applications.

Finally, all eyes will be on Bitcoin, as it remains within striking distance of the $100,000 mark. Despite the brief corrections, BTC has consistently hovered around $97,000. It will be interesting to see BTC finally reach six figures ahead of Christmas. These were the top crypto news this week.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Downtrend Deepens—Is a Rebound Possible?

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Cardano price started a recovery wave above the $0.680 zone but failed. ADA is consolidating near $0.650 and remains at risk of more losses.

  • ADA price failed to recover above the $0.70 resistance zone.
  • The price is trading below $0.680 and the 100-hourly simple moving average.
  • There was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair (data source from Kraken).
  • The pair could start another increase if it clears the $0.70 resistance zone.

Cardano Price Dips Again

In the past few days, Cardano saw a recovery wave from the $0.6350 zone, like Bitcoin and Ethereum. ADA was able to climb above the $0.680 and $0.6880 resistance levels.

However, the bears were active above the $0.70 zone. A high was formed at $0.7090 and the price corrected most gains. There was a move below the $0.650 level. Besides, there was a break below a connecting bullish trend line with support at $0.6720 on the hourly chart of the ADA/USD pair.

A low was formed at $0.6356 and the price is now consolidating losses near the 23.6% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. Cardano price is now trading below $0.680 and the 100-hourly simple moving average.

On the upside, the price might face resistance near the $0.6720 zone or the 50% Fib retracement level of the recent decline from the $0.7090 swing high to the $0.6356 low. The first resistance is near $0.6950. The next key resistance might be $0.700.

Cardano Price

If there is a close above the $0.70 resistance, the price could start a strong rally. In the stated case, the price could rise toward the $0.7420 region. Any more gains might call for a move toward $0.7650 in the near term.

Another Drop in ADA?

If Cardano’s price fails to climb above the $0.6720 resistance level, it could start another decline. Immediate support on the downside is near the $0.6420 level.

The next major support is near the $0.6350 level. A downside break below the $0.6350 level could open the doors for a test of $0.620. The next major support is near the $0.60 level where the bulls might emerge.

Technical Indicators

Hourly MACD – The MACD for ADA/USD is losing momentum in the bearish zone.

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

Major Support Levels – $0.6420 and $0.6350.

Major Resistance Levels – $0.6720 and $0.7000.



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XRP Price Under Pressure—New Lows Signal More Trouble Ahead

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Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

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In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.



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Bitcoin Price Swings Wildly—Yet Bears Keep the Upper Hand!

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Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone.

  • Bitcoin started a decent recovery wave above the $84,500 zone.
  • The price is trading near $83,500 and the 100 hourly Simple moving average.
  • There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it stays above the $82,200 zone.

Bitcoin Price Dips Sharply

Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave above the $83,500 resistance zone.

The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels.

There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low.

Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level.

Bitcoin Price
Source: BTCUSD on TradingView.com

The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.

More Losses In BTC?

If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,800 level. The first major support is near the $82,200 level.

The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 support in the near term. The main support sits at $80,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

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

Major Support Levels – $82,800, followed by $82,200.

Major Resistance Levels – $84,200 and $85,500.



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