23 days ago

XRP Price Defies The Odds – Can It Smash Through $3?

XRP price is up over 50% and trading well above $2.50. The price is consolidating near $2.70 and might aim for more gains above the $2.80 level. XRP price is eyeing a fresh increase above the $2.80 resistance zone. The price is now trading above $2.50 and the 100-hourly Simple Moving Average. There is a short-term contracting triangle forming with resistance at $2.72 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to accelerate if it clears the $2.75 resistance. XRP Price Extends Surge Above $2.50 XRP price accelerated higher after it settled above the $2.00 level. It cleared many hurdles near $2.25, beating Bitcoin and like Ethereum . There was a move above the $2.50 and $2.65 resistance levels. It is up over 50% and there was a move above the $2.80 level. A high was formed at $2.869 and the price is now consolidating gains. It dipped some points and tested the $2.70 level. There was a move below the 2.36% Fib retracement level of the upward move from the $2.190 swing low to the $2.869 high. The price is now trading above $2.50 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.720 level. There is also a short-term contracting triangle forming with resistance at $2.72 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.750 level. The next key resistance could be $2.850. A clear move above the $2.850 resistance might send the price toward the $2.960 resistance. Any more gains might send the price toward the $3.00 resistance or even $3.120 in the near term. The next major hurdle for the bulls might be $3.20. Are Dips Supported? If XRP fails to clear the $2.720 resistance zone, it could start a downside correction. Initial support on the downside is near the $2.650 level. The next major support is near the $2.520 level or the 50% Fib retracement level of the upward move from the $2.190 swing low to the $2.869 high. If there is a downside break and a close below the $2.520 level, the price might continue to decline toward the $2.450 support. The next major support sits near the $2.30 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.5200 and $2.4500. Major Resistance Levels – $2.7200 and $2.8500.

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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

AI predicts Polygon price as Aave threats to leave the blockchain

Polygon (POL, formerly MATIC ) is going through a significant crisis as the AaveDAO is set to vote on a proposal to leave the blockchain due to security concerns. Finbold turned to artificial intelligence (AI) to analyze this context and provide a Polygon price prediction if this comes true. Finbold covered Polygon-Aave drama last week, as POL’s price reacted negatively to Aave’s ( AAVE ) response to the $1 billion-bridge proposal. At that time, Polygon was trading at $0.594, down 38.65% year-to-date. Why is Aave DAO considering leaving the Polygon blockchain In summary, Allez Labs, along with Morpho and Yearn, proposed transferring about $1.3 billion of the Polygon-Ethereum bridge to their protocols for liquidity supply and yield generation. Many decentralized finance ( DeFi ) users and analysts expressed concern to this proposal, including relevant leadership from Aave, the world’s leading DeFi protocol and competitor of the proponents. As a result, Marc Zeller and EzR3aL, two of the most influential figures on Aave’s governance’s decentralized autonomous organization (DAO) said they plan to support Aave protocol leaving the Polygon blockchain due to security concerns in a vote expected to happen in January 2025. This could be a significant hit for Polygon price and ecosystem, considering Aave represents around 40% of Polygon’s presence in DeFi, according to a DL News’ s report on December 26. Meanwhile, Polygon accounts for only 1.5% of Aave revenue, an argument Zeller used to justify his position. “Polygon is 1.5% of Aave DAO revenue,” Marc Zeller commented in a related thread. “In what world do we risk a billion of bad debt for this?” Grok AI’s POL price prediction amid Polygon-Aave drama As of this writing, POL (formerly MATIC) is trading at $0.485, down nearly 50% year-to-date. This also represents an 18% drop from when we reported Polygon-Aave’s drama for the first time on December 17. Polygon (POL, formerly MATIC) 2024 price chart. Source: Finbold Grok AI: Polygon price bearish prediction First, Grok AI believes the immediate response to Aave leaving Polygon would be bearish for POL’s price, predicting a crash. This, according to xAI’s model— paralleled to Google —could create a sell-off driving Polygon to as low as $0.30. “The loss of such a major player could shake investor confidence, leading to a sell-off. Given POL’s already negative performance year-to-date as of late 2024, an additional drop might push the price below current levels, potentially testing lower support levels like $0.30 or even lower if market sentiment turns very bearish.” – Grok AI output on the Polygon-Aave drama The AI expects a bounce up after testing the price support. Nevertheless, Grok doubles down on the bearish stance, saying Polygon will hardly surpass $0.50 in 2025. Grok AI analyzing Polygon implication if Aave DAO votes to leave. Source: Grok / Finbold The bullish case On the other hand, Grok also considers a potential upside, with a bullish price prediction for Polygon in 2025. For that to happen, the AI says Polygon’s leadership must be able to deal with the ongoing crisis and loss of confidence from investors, besides delivering a solid work next year, capable of attracting significant demand for its ecosystem. “If Polygon adapts and grows despite this setback, predictions could range from $0.63 to $1.91 by the end of 2025, as suggested by some analyses, assuming market conditions remain favorable for altcoins.” – Grok AI Grok AI Bearish and Bullish price prediction for Polygon. Source: Grok / Finbold As things develop, investors must understand the security risks using bridged assets could incur to the ecosystem and closely watch what happens next regarding AaveDAO’s decision. Polygon Labs CEO, Marc Boiron, already said that “A world in which Aave leaves is not one that I want.” Featured image from Shutterstock. The post AI predicts Polygon price as Aave threats to leave the blockchain appeared first on Finbold . NewsBTC

Henrik Zeberg Predicts Solana’s Value Growth in Near Future

Henrik Zeberg sees potential value increase for Solana soon. He believes altcoins will outperform Bitcoin in the current cycle. Continue Reading: Henrik Zeberg Predicts Solana’s Value Growth in Near Future The post Henrik Zeberg Predicts Solana’s Value Growth in Near Future appeared first on COINTURK NEWS . NewsBTC