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The XRP price is showing signs of a strong bullish reversal, with a crypto analyst predicting a potential rebound toward $3.5 and even higher. After experiencing significant volatility and undergoing a consolidation due to recent price declines, technical indicators now show support for XRP’s bullish outlook. As a result, the analyst has provided a short—and long-term price target for the cryptocurrency. XRP Price Projected To Reverse To $3.5 According to ‘Setupsfx’, a crypto analyst on TradingView, XRP is now in a bullish reversal phase, meaning its price is expected to break out of its recent downturn and rise to new highs. Based on the expert’s chart analysis of XRP, the cryptocurrency is predicted to see an explosive increase to $3.5 following the end of its consolidation phase. Related Reading: XRP Price Breakdown below $2: Analyst Reveals Next Major Support The chart indicates that the price of XRP is expected to rise to $3.5 in the coming months. However, from a fundamental analysis perspective, the analyst believes XRP is not limited to this bullish price target and could potentially surpass it to exceed current all-time highs of $3.84. While the TradingView expert’s analysis of XRP maintains a neutral stance, implying uncertainty in the trend, he has also emphasized the cryptocurrency’s strong potential for growth. Hence, XRP could experience significant upward movement if market conditions align favorably and investor sentiment and confidence strengthen. For his short-term price target, the crypto analyst forecasts that XRP could rally to a level above $3.5. He advises traders who intend to hold their positions for a short period to aim for this price level, as it could be a strategic exit point before a potential pullback. Notably, the analyst’s long-term price target for XRP has been set at $4.0 or higher. Considering XRP’s price is currently trading at $2.09, a surge to $4 would represent an almost 100% increase in its price. Technical Elements Supporting Bullish Reversal In his chart analysis, Setupsfx highlights XRP’s price action in a 12-hour time frame, showcasing key movements, trends, and technical elements that support his bullish projection. These elements include liquidity and IMB zones, which are areas where price action is expected due to pending orders. Related Reading: XRP Price To $110? Bollinger Bands Creator Reveals Why It Will Become A Market Leader The analyst also highlights an accumulation phase, as XRP has been consolidating at lower levels, signaling the possibility of a potential breakout. The appearance of strong low wicks further indicates that buyers are regaining control of the market. Finally, the TradingView analyst has indicated that the altcoin has already undergone a three-point trendline rejection, which means it has tested and rejected a resistance level multiple times. The expert’s price chart also provides an ideal entry point for both short and long-term traders, marked at $1.8. A stop loss has also been placed significantly lower around $1.2 to minimize potential losses. Featured image from iStock, chart from Tradingview.com
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XRP Accumulation Phase altcoin Consolidation Phase IMB Zones Setupsfx xrp xrp news XRP Price XRPUSD xrpusdt
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Trump Nominee Paul Atkins Clears Senate Panel for U.S. Securities and Exchange Commission (SEC) Chair: Report
Paul Atkins, Donald Trump’s nominee for chair of the U.S. Securities and Exchange Commission (SEC), advanced through the Senate Banking Committee on Thursday. According to a Reuters report , the committee approved Atkins in a 13-11 vote, with all Democrats opposing the nomination. Atkins, a former SEC commissioner, is known for his deregulatory stance and ties to the cryptocurrency industry. The nomination now moves to the Senate floor for final confirmation. If confirmed, Atkins will succeed Acting Chair Mark Uyeda, who has led the SEC since January. Atkins has pledged to prioritize regulatory clarity for digital assets and streamline capital formation processes. Critics, including Senator Elizabeth Warren, have raised concerns about Atkins’s record during the 2008 financial crisis and his advisory role with the collapsed crypto exchange FTX. Despite opposition, Atkins is expected to secure confirmation in the Republican-controlled Senate. During his nomination hearing before the Senate Banking Committee on March 27th, Atkins said that he had witnessed how regulations impact markets and investors. “Since 2017, as I have led industry efforts to develop best practices for the digital asset industry, I have seen how ambiguous and non-existent regulations for digital assets create uncertainty in the market and inhibit innovation.” To address the challenges stemming from the absence of clear rules for digital assets, Atkins said he will work to establish a regulatory framework for crypto. “A top priority of my chairmanship will be to work with my fellow Commissioners and Congress to provide a firm regulatory foundation for digital assets through a rational, coherent, and principled approach.” Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action 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 Trump Nominee Paul Atkins Clears Senate Panel for U.S. Securities and Exchange Commission (SEC) Chair: Report appeared first on The Daily Hodl . NewsBTC
Synthetix’s Stablecoin sUSD Depegs to Below $0.92 Twice This Week
Stablecoin sUSD, the synthetic dollar-pegged asset from Synthetix slipped below its dollar peg yesterday, April 2. The stablecoin lost its peg earlier this week, on March 31, as well. Synthetix is the seventh-largest derivatives protocol by total value locked (TVL) . Synthetix’s sUSD fell 4.6% from $0.96035 to $0.91608 in the early hours of March 31, according to CoinGecko data . Since then, the stablecoin retraced, before dipping back just above $0.91 again on Wednesday morning, over 8% below its dollar peg. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io NewsBTC
