XRP Price Gains 40% in One Week But Can It Continue Rally to $0.50?

Most markets are rallying since receiving a severe shakeout throughout the weekend, during which the price of Bitcoin (BTC) fell by $1,400 in minutes below the $11,000 level, liquidating $1 billion in futures along the way.  However, one of the most reliable coins in recent days has been Ripple’s XRP token as it rallied 40% in the past seven days and more than 70% from recent lows toward $0.30, as anticipated in the previous XRP technical analysis.  Now that the price target got hit, let’s take a look at the…

Ripple (XRP) Consolidating Gains: Here’s What Could Trigger Another Rally

Ripple extended its upward move towards the $0.2500 resistance against the US Dollar. XRP price is currently consolidating gains above $0.2400 and it might start another increase. Ripple gained bullish momentum above the $0.2400 and $0.2420 resistance levels against the US dollar. The price traded to a new monthly high at $0.2500 and settled well above the 100 hourly SMA. There is a key connecting bullish trend line forming with support near $0.2380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair is consolidating gains…

Ethereum Correcting Gains But 100 SMA Could Trigger Fresh Increase

Ethereum started a downside correction from the $335 swing high against the US Dollar. ETH price is currently approaching a major support zone near $305 and the 100 hourly SMA. Ethereum is losing bullish momentum and it is now trading below $320. The price is likely to find a strong buying interest near $305 or the 100 hourly simple moving average. There was a break below a key ascending channel with support near $318 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the…

A Strengthening Case for More Gains

Bitcoin rallied over 4% and it broke the key $10,000 resistance against the US Dollar. BTC is showing a lot of positive signs and it is likely to rise further above $10,200. Bitcoin gained bullish momentum above the $9,800 and $10,000 resistance levels. The price is now holding strong at $10,000 and it is well above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $10,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely…

Market Wrap: Stocks Make Gains While Bitcoin Sticks to $9,200

A bullish stock market left bitcoin behind Monday with the world’s oldest cryptocurrency trading flat. The absence of action in bitcoin is in contrast to the performance of global equities on Monday. Stocks across the world today:  “In recent trading sessions, bitcoin traded in a narrow range of $9,100-$9,200,” said Constantin Kogan, partner at cryptocurrency fund BitBull Capital. “After a short-term bullish impulse, the asset managed to peak at $9,300, followed by a downward correction.” Over the past few days, bitcoin has approached $9,320, only to see the price drop,…

South Korea Could Issue a Crypto Capital Gains Tax as High as 20%

South Korean private sector members recently discussed a crypto-related taxation bill meant to establish capital gains tax for cryptocurrencies. During these discussions on July 13, members indicated crypto gains taxes could rise as high as 20%. Cryptocurrencies could be considered as “goods” Proposed amendments to existing laws also plan to classify cryptocurrencies as “goods,” rather than currencies.  Lawmakers have established that virtual assets can be considered as electronic certificates of economic value that can be traded electronically. However, when the transactions are for sales purposes, it could be viewed as…

Stellar (XLM) Could Soon Erase Recent Gains as It Hits “Make or Break” Level

Stellar (XLM) has been incurring massive upside throughout the past couple of weeks, with the token’s price surging to fresh yearly highs just days ago. It is currently expressing some signs of weakness, however, as the token’s price recently faced a grim rejection that has since sparked an intense price decline. Analysts are noting that this ongoing breakdown could ultimately result in a full retrace that causes it to reel back down to around where its latest parabolic push higher first began. Despite this, some analysts are remaining firmly bullish…

Blockchain Bites: DiDi to Trial the Digital Yuan and a Look at Chainlink’s Gains

The Chinese equivalent of Uber will pilot the nation’s digital yuan, a major Ethereum alliance is moving to support DeFi as Nexo gets ready to enter the prime brokerage space with help from Chainlink. Here’s the story: FOMOTikTok videos and a fomenting sense of FOMO have driven trading volumes of dogecoin up nearly 2,000%, as of Monday, according to Messari. The meme-inspired asset’s price climbed 35% over the same period. The Dogecoin Twitter handle has issued a statement saying: “Be mindful of the intentions people have when they direct you to buy things. None…

Market Update: Crypto Assets Slowly Gather Gains, Bitcoin Needs Capital Inflow, ADA Jumps 85%

Cryptocurrency market prices have improved a great deal since our last market update, as the overall market capitalization of all 5,700+ coins has gained $16 billion since June 14. Most of the top digital assets have remained in a consolidated cycle and a great number of cryptos have been able to hold above their 50-day averages. Crypto Market Capitalization Inches Toward $300 Billion The crypto community is curious about what’s going to happen next in the land of digital currency markets. Today, on Wednesday, July 8, a great number of…