Connect with us

Market

XRP Price About To Make A New All-Time High Run To $5? Here’s What The Chart Says

Published

on



Este artículo también está disponible en español.

The past 24 hours have seen bullish momentum return to XRP, with the cryptocurrency now reclaiming the $2.5 price level. This bullish momentum comes after a seven-day stretch of range consolidation between resistance at $2.5 and support at $2.3. Despite this consolidation of the price, technical analysis shows that XRP is still trading in a bullish setup, especially on the daily candlestick timeframe. Notably, this bullish setup shows that the XRP price is about to make a new all-time high run to $5.

Bullish RSI Divergence And Strong Support Set The Stage

Technical analysis of the XRP price, which was posted on the TradingView platform, shows that the cryptocurrency is on the verge of a maximum surge in the coming weeks. Technical indicators play a crucial role in this outlook, which is currently bullish, despite the recent price downturn. 

Related Reading

One such technical indicator is the Relative Strength Index (RSI), which measures momentum in price movements. The RSI, for one, is flashing a bullish divergence on the daily timeframe. This occurs when the RSI makes higher lows while price action makes lower lows, which is a signal of reversal to the upside. 

XRP
Source: Chart on Tradingview.com

Furthermore, technical analysis shows that despite the price downturn, XRP has managed to hold above strong support at $2. The ability of XRP to hold above the support means that the recent selling pressure wasn’t an XRP price weakness as many expect, but only a consequence of a wider downturn in the entire crypto market. With the bullish structure intact and selling pressure appearing to wane, the asset remains in a strong position for a renewed rally, with a $5 target in sight.

Can XRP Break Its All-Time High And Rally To $5?

XRP’s all-time high remains at $3.40 and has yet to return to this price level since January 7, 2018. However, the altcoin has been one of the best performers this cycle, and this all-time high might not stand for long. In a recent rally, the cryptocurrency surged to $3.36, only to face sharp rejection from bearish resistance just before breaking new ground.

Related Reading

A move to $5 would not only mark a new all-time high but also solidify XRP as the best performer this cycle. The path to this milestone, however, will require the cryptocurrency to overcome key resistance zones, particularly around the $2.8 and $3 levels, where selling pressure has shot up this cycle. 

At the time of writing, XRP is trading at $2.51, having increased by about 4.5% in the past 24 hours. If bullish momentum continues to build and XRP successfully clears these barriers, the projected $5 price target could be within reach.

XRP
XRP trading at $2.5 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com



Source link

Market

BNB Chain Reveals “AI-First” Strategy in 2025 Tech Roadmap

Published

on


BNB Chain announced its Tech Roadmap for 2025, focusing heavily on AI. The network also set ambitious goals in other areas, hoping to reduce transaction latency to sub-second speeds while processing 100 million transactions per day.

The Roadmap details quality-of-life changes in speed, scalability, developer tools, and more. Ultimately, however, BNB Chain plans to lean heavily on AI solutions to meet many of these goals, marking a new “AI-First” approach.

BNB Chain Puts AI On The Roadmap

BNB Chain, a blockchain network originally developed by Binance, is planning many changes for the future. Within the last month, it introduced a development solution for AI Agents and created a platform to simplify meme coin launches.

BNB Chain just released its Tech Roadmap for 2025, and it’s looking to improve these and other key features.

“Looking ahead to 2025, BNB Chain is focused on delivering key upgrades to improve both technical performance and the user experience to lay the foundation for broader Web3 adoption,” the firm claimed in a statement exclusively shared with BeInCrypto.

Specifically, the Roadmap claims that BNB Chain will focus on AI agents alongside a few other generalized quality-of-life improvements.

For example, the firm wishes to reduce transaction latency, allow a gasless option for all types of user transactions, and shore up protections against maximal extractable value (MEV) attacks, especially sandwich attacks.

Furthermore, the network will prioritize integrating AI into dApps and using DataDAOs to “to allow fair monetization and incentivized contributions on private datasets.”

The roadmap announcement also had a brief impact on the BNB’s market price. The fifth-largest altcoin surged nearly 10% following the roadmap announcement on Tuesday, February 11. Its daily trading volume also surged by 17%, according to CoinMarketCap data.

bnb price
BNB 24-Hour Price Chart. Source: BeInCrypto

BNB Chain heavily prioritizes AI use cases on its Roadmap, and this includes improvements in many areas. It plans to refine several pre-existing developer tools, such as the tokenization portal it launched last November.

It will use AI for many of these, creating a Code Copilot to help developers and new AI agent solutions.

Also, the new roadmap sets a goal to reduce transaction latency to sub-second speeds while processing 100 million transactions per day. Nonetheless, AI-related points are present in most of the network’s goals in 2025, reflecting a deeper transformation.

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.



Source link

Continue Reading

Market

PinLink (PIN) Price Jumps 15%, Nears $90 Million Market Cap

Published

on


PinLink (PIN) price has been gaining momentum, surging 15% in the last 24 hours as it nears a $90 million market cap. Technical indicators show mixed signals, with the RSI cooling down from near-overbought levels while the ADX suggests the uptrend is still strong but possibly stabilizing.

A recent golden cross in the EMA lines indicates that if bullish momentum continues, PIN could test resistance at $1.17 and potentially push toward $1.41 or even $2 if AI, DePIN, and RWA narratives regain traction. However, if the uptrend loses strength, PIN could retest support at $0.70, with a deeper correction down to $0.51 still on the table.

PinLink defines itself as the first RWA-tokenized DePIN marketplace. It aims to reduce costs for artificial intelligence developers while enabling new revenue streams for DePIN asset owners.

By integrating real-world assets (RWA) with decentralized physical infrastructure networks (DePIN), PinLink aims to provide an efficient marketplace for developers to access AI-related resources at lower costs.

At the same time, asset owners can monetize their infrastructure, creating a more decentralized and cost-effective ecosystem.

PIN RSI.
PIN RSI. Source: TradingView.

Currently, PIN’s RSI is at 58.6 after briefly touching 69.98 a few hours ago, surging from just 24.4 four days ago. The Relative Strength Index (RSI) is a momentum indicator that measures whether an asset is overbought or oversold, ranging from 0 to 100.

Readings above 70 suggest overbought conditions and a potential pullback, while values below 30 indicate oversold conditions and the possibility of a rebound.

With PIN’s RSI rising sharply in a short period but now cooling down from overbought territory, it suggests that buying pressure has been strong but is now stabilizing.

If RSI continues to hold above 50, PIN could maintain bullish momentum, but if it declines further, it may indicate weakening demand, increasing the risk of a short-term correction.

PIN ADX Shows the Uptrend Is Still Strong, But Could be Easing

PinLink ADX is currently at 29.3, slightly down from 30.2 a few hours ago, after surging from 22.4 just three days ago. The Average Directional Index (ADX) is a key indicator used to measure the strength of a trend rather than its direction.

Readings above 25 typically indicate a strong trend, while values below 20 suggest weak or nonexistent trend momentum. A rising ADX signals that a trend – whether bullish or bearish – is gaining strength, while a declining ADX can indicate fading momentum or potential consolidation.

PIN ADX.
PIN ADX. Source: TradingView.

With PIN’s ADX currently at 29.3, the indicator suggests that the uptrend is still holding strength but may be slowing slightly. The recent increase from 22.4 confirms that PIN has been building a stronger trend over the past few days, reinforcing bullish momentum.

However, the small dip from 30.2 could indicate that trend strength is stabilizing rather than accelerating.

If ADX remains above 25 and continues rising, it would confirm that the altcoins’ uptrend is gaining traction, but if it starts dropping toward 20, it could signal that the bullish momentum is weakening, leaving room for potential consolidation or a shift in the market direction.

PinLink EMA lines indicate a bullish signal, as a short-term moving average has just crossed above another short-term line, forming a golden cross. If this uptrend remains strong, PIN, which is based on Ethereum, could test its next resistance at $1.17, and a breakout above this level could push the price toward $1.41.

Additionally, if narratives around AI, DePIN, and RWA regain momentum, PinLink could benefit from renewed market interest, potentially driving its price toward the $2 mark.

PIN Price Analysis.
PIN Price Analysis. Source: TradingView.

On the downside, if PIN fails to sustain its current bullish momentum and the trend reverses, it could face a retest of the $0.70 support level.

A break below this level could accelerate selling pressure, leading to a deeper decline toward $0.51 – a potential 50% correction from current levels.

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 ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

How Trump’s Tariffs Impact Crypto and Bitcoin’s Potential

Published

on


Trump’s tariff policies shook the crypto market last week. Though countries like Mexico and Canada achieved a one-month postponement, tariffs on China have already been enacted. 

BeInCrypto spoke with ‬Kristian Haralampiev, Structured Products Lead at Nexo‬, to understand why Trump’s tariffs caused markets to panic, what the crypto markets should expect 30 days from now, and the areas where the industry could find opportunities.

Trump Tariff Announcements Shake Crypto Market

In the first week of February, US President Trump announced that he would impose a 25% tariff on imports from Canada and Mexico and a 10% tariff on Chinese goods. Additionally, he applied a 10% levy on Canadian energy resources. 

These announcements triggered widespread reactions across traditional and crypto markets. Though these tariffs were said to be effective this Tuesday, global financial markets began selling off the prior weekend in preparation.

Though cryptocurrency markets are not inherently tied to trade deficits in the same way equities might be, they still took a significant hit. Following Trump’s tariffs announcements, the total crypto market capitalization contracted by approximately 8% in just one day– falling to about $3.2 trillion.

Bitcoin dropped to a minimum of $91,281, while Ethereum fell as low as $2,143. These fluctuations resulted in billions being wiped from the market. According to Coinglass, total liquidations exceeded $2.23 billion in a 24-hour period. No digital asset went unharmed.

A day before the executive orders were to take effect, Trump agreed to suspend the tariffs against Mexico and Canada for one month. However, China and the US did not reach a negotiation, and the US’s 10% levy on Chinese imports went into effect.

The crypto markets responded favorably to these postponements. XRP, which had dropped by over 25% in response to Trump’s tariff announcements, quickly jumped up 6% after news of the 30-day pause. Meanwhile, Bitcoin surged to $102,599, fueled by renewed investor optimism.

However, several questions remain about what will happen to the crypto market one month from now, when the threat of tariffs is again on the table. 

Tariffs’ Impact on Economy Dynamics

Tariffs are taxes on imports or exports that governments use to achieve strategic goals such as trade deals or to reduce trade deficits.

Regarding Trump’s tariffs, the US imports more goods from Canada, Mexico, and China than it exports, meaning it faces a trade deficit with all three countries.

The connection between trade deficits and tariffs is important because of the potential consequences for equities and cryptocurrencies. Tariffs can increase the prices of imported goods, potentially leading to inflation as these costs are passed on to consumers.  

In turn, higher costs may decrease consumer demand for those goods, resulting in reduced imports and lower profits for foreign companies, potentially leading them to withdraw from the US market.  

Consequently, tariffs could raise foreign goods prices, decrease import volumes, and diminish corporate profits, incentivizing investors to reduce their equity holdings, seek less risky investments, and lower their exposure to cryptocurrency.

The cryptocurrency market’s decline following Trump’s announcements illustrates this phenomenon. 

While cryptocurrency and equity markets sometimes exhibit independent behavior, significant events can create broader market disruptions, impacting seemingly unrelated assets due to prevailing market sentiment.

A Possible Opportunity for Crypto

Amidst considerable market volatility, a JPMorgan Chase survey of institutional trading clients found that 51% predict inflation and tariffs will be the dominant forces shaping global markets in 2025. The survey also highlighted market volatility as a major concern, cited by 41% of respondents, a significant increase from 28% in 2024.

However, some industry experts have pointed to a silver lining

According to Haralampiev, Trump tariff policies, while likely to create volatility in cryptocurrency markets, may also present opportunities for Bitcoin’s long-term rise.

“The‬‭ introduction‬‭ of‬‭ steep‬‭ tariffs,‬‭ particularly‬‭ on‬‭ Chinese‬‭ imports,‬‭ would‬‭ likely‬‭ disrupt‬‭ global‬‭ trade‬‭flows,‬‭ increase‬‭ production‬‭ costs,‬‭ and‬‭ contribute‬‭ to‬‭ inflationary‬‭ pressures.‬‭ Historically,‬‭ such‬‭ economic‬‭ shifts‬‭ have‬‭ driven‬‭ investors‬‭ toward‬‭ alternative‬‭ assets‬‭ that‬‭ serve‬‭ as‬‭ hedges‬‭ against‬‭ currency‬‭ devaluation‬‭ and‬‭ macroeconomic‬‭ uncertainty.‬‭ Cryptocurrencies,‬‭ particularly‬‭ Bitcoin,‬‭ have‬‭ increasingly‬‭ been‬‭ viewed‬‭ as‬‭ having this potential, hinting at bullish signals for the asset class,” Haralampiev told BeInCrypto. 

In other words, as economic tensions escalate, Bitcoin’s ascent will accelerate. 

“All‬‭ of‬‭ this‬‭ could‬‭ become‬‭ a‬‭ tailwind‬‭ for‬‭ Bitcoin‬‭ and‬‭ leading‬‭ cryptocurrencies,‬‭ as‬‭ their decentralized nature could be viewed as an attractive proposition for investors.‬‭ If‬‭ inflation‬‭ remains‬‭ high,‬‭ demand‬‭ for‬‭ assets‬‭ that‬‭ serve‬‭ as‬‭ a‬‭ hedge‬‭ —‬‭such‬‭ as‬‭ Bitcoin‬‭—‭ could‬‭ increase,‬‭ especially‬‭ if‬‭ the‬‭ US‬‭ government‬‭ keeps‬‭ signaling‬‭ a‬‭ willingness‬‭ to‬‭ incorporate digital assets into its broader economic strategy,” Haralampiev added.

Even though Bitcoin could hedge against the inflation created by tariffs, these policies would also generate significant supply chain disruptions. 

Trump’s 10% levies on China, which are already in effect, create significant uncertainty given the role of Chinese imports in activities like cryptocurrency mining.

Following Trump’s tariff announcements, the share prices of Bitcoin mining companies MARA, Riot Platforms, and Hut 8 declined, with losses exceeding 8% in some cases. These losses made sense, given that Chinese companies dominate the industrial Bitcoin mining equipment market. 

American Bitcoin mining companies rely heavily on‬‭ Chinese-manufactured‬‭ Integrated Circuits for Specific Applications (ASIC)‬‭ equipment,‬‭ which is used to optimize the mining process. Bitmain and MicroBT are among the main suppliers. 

“‬‭The‬‭ US‬‭ mining‬‭ industry‬‭ relies‬‭ heavily‬‭ on‬‭ specialized‬‭ mining‬‭ hardware‬‭ from‬‭ China,‬‭ meaning‬‭ higher‬‭ tariffs‬‭ could‬‭ significantly‬‭ increase‬‭ equipment‬‭ costs.‬‭ This‬‭ would‬ temporarily‬‭ squeeze‬‭ profit‬‭ margins‬‭ for‬‭ miners‬‭ and‬‭ potentially‬‭ slow‬‭ mining‬‭ expansion‬ in‬‭ the‬‭ short‬‭ term. Should tariffs drive up costs‬‭ in the short term, US-based miners could look to further optimize operations,‬‭ embrace emerging technologies like immersion cooling, or seek partnerships with‬‭ domestic hardware manufacturers to maintain competitiveness,” Haralampiev explained.

Haralampiev also suggested that this disruption to a key part of the cryptocurrency mining supply chain should be a wake-up call to the industry.

The Need for Domestic Manufacturers

The crypto industry has long recognized the need for increased domestic Bitcoin mining in the United States to lessen dependence on foreign suppliers. This reliance on overseas products has been criticized for hindering decentralization and weakening supply chain resilience.

Some industry players have already taken initiatives to enhance efficiency in the Bitcoin mining field. Last June, Auradine, a Silicon Valley-based Bitcoin miner manufacturer, strategically partnered with virtual power plant providers CPower and Voltus.

Auradine is an American company that develops ASIC units engineered in the United States. These units help miners optimize electricity consumption, offering a competitive advantage. Auradine aims to provide performance and integration through this partnership without relying on third-party components.

Yet, several projects like Auradine are needed to compete with established Chinese suppliers and fulfill the demand for manufacturing equipment required for Bitcoin mining.

“By‬‭ making‬‭ foreign‬‭ mining‬‭ equipment‬‭ more‬‭ expensive,‬‭ tariffs‬‭ could‬‭ encourage‬‭ investment‬‭ in‬‭ domestic‬‭ mining‬‭ technology‬‭ and‬‭ energy-efficient‬‭ solutions.‬‭ The‬‭ US‬‭ already‬‭ has‬‭ a‬‭ competitive‬‭ advantage‬‭ in‬‭ renewable‬‭ energy‬‭ sources,‬‭ particularly‬‭ in‬‭ states‬‭ like‬‭ Texas,‬‭ which‬‭ have‬‭ abundant‬‭ wind‬‭ and‬‭ solar‬‭ power,” Haralampiev said.

The United States will need to implement a similar strategy for artificial intelligence (AI) development.

US Reliance on Outsourced Semiconductors

The United States and China are in a tight-knit race to dominate AI technologies. Semiconductors play an important in this race. These small but crucial components play a significant role in determining global technological leadership.

Semiconductors are fundamental to modern technology, forming the basis of virtually all electronic devices. They enable the development of increasingly powerful and energy-efficient systems that drive innovation across industries.

These components are critical for expeditiously and accurately processing massive datasets, particularly in AI and data analytics. They power applications from predictive analytics to natural language processing, enabling data-driven insights and decision-making.

According to data from the Observatory of Economic Complexity, in 2022, the United States ranked as the world’s third-largest importer of semiconductor devices, with imports totaling $16.6 billion. The leading suppliers of these imports were Vietnam ($4.57 billion), Malaysia ($2.13 billion), Thailand ($1.66 billion), South Korea ($1.54 billion), and China ($962 million).

China was the largest exporter of semiconductors in 2022. Source: Observatory of Economic Complexity.
China was the largest exporter of semiconductors in 2022. Source: Observatory of Economic Complexity.

US semiconductor imports increased by 13% in value during early 2023 despite ongoing efforts to boost domestic production, according to Trade Finance Global. This increase demonstrates the nation’s continued dependence on foreign chip suppliers.

With Trump enacting tariffs on China, investors are also worried about their impact on semiconductor imports. 

A Call for US-based Innovation

Similar to his argument regarding Bitcoin mining, Haralampiev contends that the United States must significantly increase efforts to onshore semiconductor manufacturing.

“By‬‭ strategically‬‭ investing‬‭ in‬‭ local‬‭ semiconductor‬‭ manufacturing‬‭ and‬‭ mining‬‭ hardware‬‭ production,‬‭ the‬‭ U.S.‬‭ could‬‭ reduce‬‭ its‬‭ reliance‬‭ on‬‭ Chinese‬‭ imports‬‭ and‬‭ make‬‭ its‬‭ crypto-mining‬‭ industry‬‭ more‬‭ self-sufficient,” he said. 

By doing so, tariffs would have less of an impact.

“The US is also looking at‬‭ advancements in AI, which means its semiconductor industry will eventually catch up‬‭ in terms of cost-production, where it could currently lack, solidifying the country’s‬‭ dominance in both mining infrastructure and chip production,” Haralampiev added.

Though Trump has not made any announcements about semiconductor production, he has announced other AI-related initiatives.

Last month, Trump announced Stargate, a $500 billion joint venture between Oracle, SoftBank, and OpenAI, to build massive data centers and infrastructure that support AI development. 

However, it is presently unclear how much the federal government will contribute to this massive sum and how much will come from Stargate’s constituent companies.

Weathering the Storm

While Trump’s tariff policies have generated concern, Haralampiev views them as part of a recurring pattern of similar past events in US history.

“This‬‭ transition‬‭ aligns‬‭ with‬‭ a‬‭ broader‬‭ historical‬‭ cycle‬‭ of‬‭ globalization‬‭ vs.‬‭ isolationism,‬‭ where‬‭ economies‬‭ shift‬‭ between‬‭ prioritizing‬‭ global‬‭ integration‬‭ and‬‭ domestic‬‭ self-reliance,” he told BeInCrypto.

He also noted that crypto-related industries have weathered comparable challenges and ultimately prevailed.

“Bitcoin mining has historically proven to be highly adaptable in the face of‬‭ policy shifts, such as China’s mining ban in 2021, which saw a rapid relocation of‬‭ mining infrastructure to North America and Central Asia,” Haralampiev added. 

Future economic scenarios are uncertain, but their potential impact on cryptocurrency markets is clear. Whether that impact is positive or negative will depend on how these scenarios develop.

Disclaimer

Following the Trust Project guidelines, this feature article presents opinions and perspectives from industry experts or individuals. BeInCrypto is dedicated to transparent reporting, but the views expressed in this article do not necessarily reflect those of BeInCrypto or its staff. Readers should verify information independently and consult with a professional before making decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io