Market
Will Xrp’s 6-Month-Long Struggle Come to an End in Q4 2024?
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XRP’s price has been battling to break above the 78.6% Fibonacci Retracement line since early March, facing significant resistance. Despite repeated attempts, the altcoin has failed to maintain a breakout, keeping it in a bearish zone.
However, recent shifts in market sentiment have provided a glimmer of hope. This growing optimism among long-term holders could lead to a potential price rise, boosting profits for key investors and possibly ending XRP’s prolonged struggle.
XRP Is Noting Mixed Signals
The MVRV (Market Value to Realized Value) Long/Short Difference indicator for XRP currently stands at 3.1%, signaling that long-term holders (LTHs) are in profit. This is a bullish indicator, as LTHs generally hold onto their tokens longer, waiting for larger profits before selling. The absence of short-term holders dominating the market suggests that there is less risk of immediate selling pressure, providing XRP a better chance to rally.
On the other hand, negative values for short-term holders typically signal bearishness, as they tend to take quick profits, leading to price drops. With long-term holders in the profit zone, the possibility of them holding onto their XRP tokens increases. This shift could provide the necessary stability for XRP’s price to attempt another breakout.
Read more: XRP ETF Explained: What It Is and How It Works
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XRP’s macro momentum shows mixed signals. While the Realized Profit indicator has recently spiked, suggesting that investors are selling to secure gains, this could put downward pressure on XRP’s price. A surge in profit-taking often counters the bullish sentiment, especially if long-term holders decide to hold off on further selling.
Despite the spike in realized profits, the support from long-term holders could still help balance the market. However, the short-term bearish signals from profit-taking investors may limit the cryptocurrency’s upside potential, leading to traders’ cautious approach as XRP navigates this delicate situation.
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XRP Price Prediction: Finding Strength
XRP is currently priced at $0.62, holding steady above the critical 61.8% Fibonacci retracement line at $0.59. The altcoin is attempting to breach the $0.65 barrier, which aligns with the 78.6% Fib line. This resistance level has kept XRP subdued for six months, and breaking through it is essential for further upward momentum.
The 61.8% Fib line is considered a key support level in bull markets, giving XRP a strong foundation to hold above it. However, the mixed signals from profit-taking and long-term holders may hinder the token’s ability to break through the $0.65 barrier.
Read more: Ripple (XRP) Price Prediction 2024/2025/2030
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If broader market cues remain positive, XRP could break past the 78.6% barrier in Q4 2024. Failure to do so could lead to consolidation below $0.65, potentially invalidating the bullish outlook for the altcoin in the near term.
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
iDEGEN finishes the presale race with hype as investors fear missing out
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- Solana will likely remain under pressure in the near term despite the steady fundamentals.
- iDEGEN is ending its presale with the same hype that has carried it through the presale as investors fear missing out.
- Even with the likely approval of a Litecoin ETF, the bulls lack enough momentum to fuel a breakout
Crypto bulls remain in control amid optimism of a 2025 bull run. However, with a neutral market sentiment, most crypto majors have been range-bound in the just concluded week. Even so, meme coins continue to attract savvy investors looking for cheaper alternatives with robust growth potential.
Since the launch of its presale on 26th November 2024, iDEGEN has taken its enthusiasts on a wild ride; raking in hefty returns for its early adopters along the way. With just a few days left before its listing on decentralized exchanges (DEXs), market participants forecast an explosive entry. As such, more investors are rushing to amass $IDGN tokens before time runs out.
Solana price stuck between the battle of optimism vs. technicals
Solana price has continued to find support in the optimism of a bull run in 2025. Besides, the surge in altcoin ETFS’ filings is a key tailwind for the crypto major.
Even so, buyers are still on the sidelines as the market sentiment remains neutral. With this low bullish momentum, Solana price failed to sustain a rebound past $180 earlier in the week.
A look at its daily chart shows the continuation of the death cross pattern as the short-term 25-day EMA remains below the 50-day MA. At its current level, the bulls are keen on defending the support at $$167.68. Below that level, the bears will be looking to pull it further to $160.10. On the upper side, $186.21 is still the resistance level to beat if the crypto is to stage a successful breakout.
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iDEGEN’s timing, community, and positioning sets it for unmatched heights
iDEGEN’s virality and success is proof that the market is ripe for projects that defy the norms. Indeed, the absence of guardrails is one of the factors that have catapulted the AI crypto to its current levels.
Crypto degens have been responsible for raising the AI agent, steadily feeding it with uncensored content. This community has become so committed and influential that not even the bans on X could stop the movement In fact, it only fueled the FOMO.
As a result, iDEGEN has raised over $24 million with more than 1.8 million $IDGN tokens already sold. At its current price of $0.0345, the early adopters are sitting on returns of over 31,000% even before it hits the public shelves.
Based on its infrastructure, timing, and virality, iDEGEN has robust growth potential. Whether or not the heightened speculations of a Binance listing will materialize, the crypto is set for great heights on the back of a crypto-friendly environment, an engaged community, and the positioning of AI in the crypto space.
Besides, its rivals like Hamster Kombat, AI16z, and Fartcoin, which were launched in October 2024, have since seen their market cap exceed $100 million. In fact, AI16z is currently valued at over $400,000. With this immense validation of AI cryptos, iDEGEN’s value will likely surge by at least 10X in coming months. Read more on how to buy the iDEGEN token here.
Optimism over a Litecoin ETF not enough to yield a breakout
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SEC is already reviewing Canary Capital’s proposal of a Litecoin ETF; an aspect that is offering support to the altcoin. On its daily chart, it continues to trade above the 25 and 50-day EMAs; pointing to further gains in the near term.
However, with buyers on the sidelines, Litecoin price may remain range-bound for a while longer. More specifically, the range between $120.25 and $131.25 is worth watching. Heightened optimism may further boost the altcoin to find resistance at $135.12.
Market
3 Meme Coins to Watch For The Last Week of February 2025
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DOGEai, TST, and BROCCOLI are three meme coins drawing attention for the last week of February. DOGEai, launched on Solana, is up 110% in the past seven days, positioning itself as a leading AI meme coin.
TST remains one of the most popular meme coins on the BNB chain despite a recent correction. At the same time, BROCCOLI, inspired by Binance co-founder CZ’s dog, has also seen significant volatility.
DOGEai (DOGEAI)
DOGEai is an artificial intelligence coin launched on Solana. Its market cap is now $32 million, up 82% in the last seven days. This rise has positioned DOGEai as one of the most talked-about AI meme coins in recent days.
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DOGEai leverages multiple narratives, including Dogecoin’s popularity, the growing interest in DOGE (Department of Government Efficiency), and the broader AI cryptos trend. It defines itself as “an autonomous AI agent here to uncover waste and inefficiencies in government spending and policy decisions,” offering bill summaries and insights into government expenditures.
If the current uptrend continues, DOGEai could test the resistance at $0.048, with potential targets at $0.059 and $0.069. However, if a downtrend emerges, DOGEai has support at $0.030, and if that level is lost, it could drop to $0.018 or even $0.0092.
Test (TST)
TST has emerged as one of the most popular meme coins on the BNB chain, benefiting from the chain’s growing volume, which recently even surpassed Solana.
In the days following its launch, TST reached a market cap close to $500 million, then entered a strong correction phase. Its market cap has since dropped to $78 million.
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If the BNB narrative gains strength again, TST could benefit as one of its most popular meme coins and may test the resistance at $0.10. A breakout above this level could push TST to $0.20 or even $0.25 if buying pressure intensifies.
However, if TST fails to regain strong upward momentum, it could test the support at $0.0719 and potentially drop to its lowest levels since February 9.
CZ’S Dog (BROCCOLI)
BROCCOLI was launched a few weeks ago after Binance co-founder CZ revealed his dog’s name, sparking a flood of BROCCOLI tokens on the market.
The largest of these tokens quickly surged to a $249 million market cap in its early days but has since dropped to $52 million.
Like TST, BROCCOLI benefited from the recent rise of the BNB ecosystem but has since entered a strong correction phase. It is down 40% in the last seven days.
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If the downtrend continues, BROCCOLI could test support near $0.04, and a break below this level could push it to its lowest price since launch.
However, if the BNB ecosystem and meme coins regain traction, BROCCOLI could benefit, especially given the popularity of dog-related meme coins like Dogecoin and Shiba Inu. In this bullish scenario, BROCCOLI could rise to test the resistance at $0.113.
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
Ethereum Rollback Debate Intensifies After Bybit Hack
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The crypto community is divided over calls for an Ethereum blockchain rollback following a massive security breach at Bybit.
On February 21, the exchange lost nearly $1.5 billion in ETH to hackers, sparking discussions about whether Ethereum should intervene to recover the stolen funds.
What is a Blockchain Rollback?
A blockchain rollback, also known as a reorganization, involves reversing confirmed transactions to restore the network to an earlier state.
This process usually happens after a major security breach or exploit. Validators must reach a consensus to discard the affected blocks, effectively erasing the malicious transactions.
Despite its potential benefits, a rollback remains a controversial and rarely used measure due to its impact on a blockchain’s trust and decentralization.
Blockchains operate on the principle of immutability, meaning transactions are expected to be final once confirmed. So, rolling back transactions challenges this principle, raising concerns about the security and reliability of the network.
Crypto Leaders Clash Over Ethereum Rollback Proposal
BitMEX co-founder Arthur Hayes has been vocal in advocating for a rollback to solve the ByBit hack. He pointed to the 2016 DAO hack, where Ethereum underwent a hard fork to recover stolen funds, as precedent.
Hayes argued that since Ethereum previously compromised on immutability, another intervention should not be off the table.
“My own view as a mega ETH bag holder is ETH stopped being money in 2016 after the DAO hack hardfork. If the community wanted to do it again, I would support it because we already voted no on immutability in 2016,” Hayes said.
JAN3 CEO Samson Mow also supported the rollback, stating it could prevent North Korea from using the stolen funds to fund its nuclear weapons program.
However, not everyone agrees. Pseudonymous crypto trader Borovik strongly opposed the idea, arguing that a rollback would jeopardize Ethereum’s credibility and neutrality.
Bitcoin advocate Jimmy Song also dismissed the possibility, stating that the Bybit hack cannot be compared to the 2016 DAO exploit. Song emphasized that the DAO hack allowed for a 30-day intervention, whereas the Bybit attack is already finalized, making a rollback impractical.
“I know people are expecting the Ethereum Foundation to roll back the chain, but I suspect it’s already too much of a mess to do it cleanly,” Song added.
Meanwhile, Ethereum supporter Adriano Feria introduced an alternative perspective. He argued that Bybit could have avoided this situation by using a Layer 2 (L2) solution with conditional reversible transactions.
According to Feria, blockchain technology needs some form of reversibility to ensure real-world adoption.
“Whether through social recovery or another pre-determined, immutable, and transparent decision-making process, real-world mass adoption will not work without reversible transactions. Without this capability, transactional activity will inevitably gravitate toward TradFi systems that already provide it,” Feria stated.
This debate raises a fundamental question for Ethereum: should it prioritize immutability or intervene in extreme cases?
While some see a rollback as a necessary response to an unprecedented loss, others fear it could undermine the core principles of decentralization. Ethereum’s next steps will likely shape its long-term credibility and trust within the crypto space.
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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