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This Pivotal Level Will Determine Whether XRP Goes to $2.7 or Below $2 Again (Analyst)

TL:DR; Ripple’s cross-border token took the recent market-wide meltdown quite badly, with its price dumping from over $2.7 to under $2 within days. The asset has recovered some ground but now sits at a pivotal level that will determine whether it resumes its bull run or slips once again. The start of the business week was quite bullish for XRP as the company behind it announced on Monday that its long-anticipated stablecoin will be officially released for trading on the next day. XRP went on a massive run, surging from under $2.4 to above $2.7 by the time the launch date arrived. However, it reversed its trajectory shortly after, and the broader market’s collapse took it south hard. In fact, Ripple’s token came crashing by 28% from the aforementioned local peak to $1.96. Many XRP whales used this opportunity to stack up on more tokens, which perhaps helped the asset recover some ground as it pumped to almost $2.4 yesterday. Nevertheless, it has lost its momentum once again and now struggles to remain above $2.2. According to popular crypto analyst Ali Martinez, this level is particularly significant for XRP’s future price movements. If it manages to maintain it, the token could resume its recent bullish activities and head toward $2.7 once again. In contrast, it risks falling beneath $2 for the third time in December if it breaks below it. If $XRP can hold above $2.20, it might consolidate for a while before taking another shot at the $2.70 resistance. But if the $2.20 support breaks, a downswing to $1.96 becomes imminent. pic.twitter.com/cdtdtSwzKy — Ali (@ali_charts) December 21, 2024 XRP indeed slipped below that line to $2.17 earlier today but managed to bounce off, at least for now. The next few days will be crucial to determine XRP’s closing price at the end of the year and if there will indeed be a Santa Claus rally, as many expected. With its most recent correction, XRP’s market cap has dropped once again to under $130 billion. This means that it has lost its third-place position to USDT, whose market capitalization is close to $140 billion. The post This Pivotal Level Will Determine Whether XRP Goes to $2.7 or Below $2 Again (Analyst) appeared first on CryptoPotato . CryptoIntelligence

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Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting

An analyst who continues to build a following with macro crypto calls believes Bitcoin ( BTC ) is almost ready to enter the parabolic stage of its market cycle. Pseudonymous analyst TechDev tells his 490,300 followers on the social media platform X that Bitcoin is flashing technical signals that preceded steep rallies in the past. The trader shares a chart suggesting that Bitcoin has breached the upper range of its Bollinger Bands in the two-month time frame after spending about two years recovering from a bear market bottom. Traders use Bollinger Bands to identify potential periods of volatility expansion and determine whether an asset is overbought or oversold. TechDev’s chart also suggests that the two signals were present during the 2016 and 2020 market cycles – just before BTC ignited parabolic surges. “This is where things have gotten exciting.” Source: TechDev/X Looking at BTC from a different perspective, TechDev says Bitcoin is in the early stages of a parabolic ascent based on the crypto king’s logarithmic moving average convergence divergence (LMACD) indicator. The LMACD indicator is designed to reveal changes in an asset’s trend, strength and momentum. “Paying attention to the high time frames (HTFs) offers the best chance to trade the cycles. $30,000 was not the top, because HTF expansion had not ended. $50,000 was not the top, because HTF expansion had not ended. $70,000 was not the top, because HTF expansion had not ended. $90,000 was not the top, because HTF expansion had not ended. And HTF expansion still has not ended.” Source: TechDev/X Based on the trader’s chart, he seems to suggest that Bitcoin will not witness a cycle top until the LMACD on the two-month chart hits its resistance at 0.12. BTC’s LMACD appears to be currently hovering at 0.04. At time of writing, Bitcoin is trading for $97,274. Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Follow us on X , Facebook and Telegram Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Analyst Predicts Incoming Bitcoin Parabolic Rally, Says BTC at Point Where Things Get Exciting appeared first on The Daily Hodl . CryptoIntelligence