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XRP traded relatively flat on Wednesday, following a sharp rebound on Tuesday, fueled by President Donald Trump’s proposal for a U.S. strategic crypto reserve that includes XRP. The announcement on Sunday triggered a nearly 40% surge in XRP’s price within a single day. Notably, Trump’s remarks also ignited a surge in transaction volume. Popular crypto analyst Ali Martinez highlighted the spike on Wednesday, tweeting, “Over $5.37 billion worth of XRP was transferred in the last 24 hours,” underscoring heightened market activity. Meanwhile, Martinez highlighted on-chain data from Santiment showing that large investors accumulated nearly 1 billion XRP within the same period, reflecting increased confidence among institutional players. Beyond whale accumulation, on-chain metrics indicate a dramatic rise in adoption. On Wednesday, Martinez noted a significant uptick in active wallet tweeting: “The number of active XRP addresses has skyrocketed by 620% in the past week, climbing from 74,589 to 462,650. This follows Santiment data from February 20, which revealed that 261 more wallets now hold over 100,000 XRP than ten weeks ago, highlighting a growing accumulation trend among high-net-worth investors. Additionally, the total number of accounts on the XRP Ledger has increased by approximately 24% from January 2024 to date, reflecting broader adoption for financial applications, including cross-border payments. That said, several factors drive XRP’s rally, including optimism surrounding potential crypto-friendly policies and regulatory reforms in the U.S. The ongoing legal battle between Ripple and the Securities and Exchange Commission (SEC) remains a key focus, but market sentiment has increasingly tilted in XRP’s favor. Elsewhere, industry analysts point to new strategic partnerships, Ripple’s stablecoin RLUSD launch, and speculation about a potential spot XRP ETF as catalysts for the asset’s recent surge. Ripple President Monica Long recently expressed confidence in ETF approval, stating in an interview that she expects regulatory approval “soon,” mainly if Trump’s administration accelerates regulatory clarity. Adding to speculation, reports suggest Ripple executives, including CEO Brad Garlinghouse, have been engaging in discussions with Trump’s administration, potentially shaping favorable digital asset regulations. Despite the optimism, some analysts caution that whales may capitalize on the price rally to offload holdings. Crypto analyst Miles Deutscher noted on Monday that some XRP whales are selling at record levels. Since XRP’s price skyrocketed over 500% in November 2024, large holders have been actively distributing tokens. Notably, CryptoQuant data indicates that the 90-day moving average of whale trading volume has ranged between $120 million and $180 million per day. At press time XRP was trading at $2.20 reflecting a 7.71% drop in the past 24 hours.

Ethereum (ETH) is undergoing a significant shift in market dynamics. Exchange outflows suggest a potential supply shock. Data from analyst Ali Martinez indicates that over the past week, more than 600,000 ETH have been withdrawn from crypto exchanges. This mass withdrawal may indicate an accumulation phase by investors. This accumulation could influence Ethereum’s price movement soon. Despite these bullish signals, the market remains volatile. $230 million worth of Ethereum long positions were liquidated recently. This event shook out overleveraged traders. As the price of ETH drops, investors are carefully watching key support and resistance levels. They aim to determine the next likely trend.. As of press time, Ethereum is trading at $2,119.85 , marking a 2.71% drop in the last 24 hours. Its market capitalization has also declined by 2.64%, reflecting a decrease in valuation. However, trading volume has surged by 136.14%, indicating strong market activity. This surge points to strong market activity. This also implies that even though the price fell, traders are actively participating. They are likely reacting to the sharp decline followed by slight recovery and consolidation. Such a surge in trading volume can lead to greater volatility. This volatility makes upcoming price movements more unpredictable. Related: Ethereum’s Pectra Upgrade Activated: Sepolia Testnet Is a Success Ethereum is approaching crucial price levels that could determine its next move. The primary resistance level is positioned at $2,176.9. This level was the previous high before the recent decline. Should ETH break through this level, it could signal a trend reversal and further price gains. However, failure to breach this resistance could mean continued downward pressure. On the downside, Ethereum has found support around $2,000. The price previously consolidated around this level before showing signs of recovery. A stronger support zone exists at $1,950. This zone represents the lowest point in the recent downtrend. If selling pressure increases and ETH drops below $2,050, the $2,000 psychological level will be the next critical point to watch. A break below this could trigger further declines. Technical indicators suggest mixed signals regarding Ethereum’s next move. The Relative Strength Index (RSI) currently stands at 38.35. This reading is below the neutral 50 mark. This level indicates that Ethereum is in oversold territory. However, it may also be preparing for a reversal. If the RSI climbs above 40-45, it could signal a shift towards bullish momentum. Related: Ethereum’s Lack of Washington Policy Presence Raises Eyebrows Ahead of Crypto Policy Summit At the same time, the MACD (Moving Average Convergence Divergence) indicator confirms a bearish trend. The MACD line (-178.9) remains below the signal line (-170.0). Nonetheless, the MACD histogram is showing signs of recovery. This histogram suggests that bearish momentum is weakening. If this trend continues, Ethereum could stabilize and attempt to regain lost ground. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Stellar (XLM) traders are observing a key technical pattern as the asset trades near $0.27. Recent analysis suggests a descending triangle may drive a 20% price move. Critical support levels draw close attention. Ali_charts shared a tweet stating that XLM consolidates within a descending triangle. The tweet notes a potential 20% price move if the pattern completes. Analysts view the pattern as critical in setting future price directions. Market participants are closely monitoring this pattern for potential breakdowns or reversals in trends. #Stellar $XLM consolidates within a descending triangle, signaling a potential 20% price move ahead! pic.twitter.com/IzGdzuVPpA The technical chart displays a well-defined descending triangle. The formation shows lower highs and steady horizontal support. The pattern indicates that sellers defend a key price level between $0.274 and $0.275. This formation may signal a continuation of the current downtrend if the support level fails. Stellar trades at approximately $0.2697 at the time of writing amid a daily decline near 2.10%. The RSI stands at 37.20, nearing oversold territory. This reading indicates that selling pressure might be reaching exhaustion. Traders use the RSI to gauge market sentiment during consolidation phases. The MACD remains below zero with a small red histogram indicating caution. Market participants assess these indicators to decide their next moves. Volume has declined during this consolidation phase. Trading activity remains moderate as sellers and buyers balance pressure. A surge in volume could confirm a clear breakout or breakdown. Potential Price Scenarios Price may drop toward the $0.22 to $0.24 range if support at $0.265 fails. This bearish scenario follows a series of lower highs and declining volumes. Conversely, a breakout above the trendline could push XLM toward the $0.30 to $0.32 range. The technical outlook points to decisive price actions. Strong trader success depends heavily on tracking crucial boundary levels in the market. During the latest trading period, the volume exceeded $170 million. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

U.S. regulatory agencies recently changed their policies enabling national bank operations within the cryptocurrency market. The Office of the Comptroller of the Currency (OCC) approved national banks to provide crypto custody services and operate with distributed ledger networks as well as offer selected stablecoin opportunities. By lifting prior restrictions this decision will affect how Bitcoin functions in the market. OCC Removes Regulatory Barriers for Banks The OCC indicated that national banks may conduct crypto-related operations under proper risk management standards. The announcement changes previous guidelines by eliminating the need for bank approval from regulators before crypto-related activities. Under the updated policy banks must effectively control their risks no matter what technological methods they apply. Rodney Hood, acting comptroller, stated that the updated guidance ensures regulatory clarity. He added that banks now have the opportunity to explore crypto-related services while maintaining strong risk controls. This shift aligns with broader efforts to integrate digital assets into the financial system. Previous Crypto Restrictions Rescinded The new rules replace previous crypto-specific requirements from the Biden administration that increased regulatory expectations in bank-crypto transactions. Under the previous policy banks were required to contact regulators before starting digital asset business operations plus show effective risk management capabilities. The implemented restrictions compelled financial institutions to reduce their activities within the crypto market. Additionally, the OCC decided to discontinue their participation in regulatory statements that previously warned banking institutions about cryptocurrency volatility. In 2023 the entity expressed intent to supervise crypto transactions between banks instead of issuing a full transaction ban. The elimination of these barriers brought banks enhanced flexibility to bring digital assets into their business operations. Market Response and Bitcoin Price Movement Following the OCC’s announcement, Bitcoin’s price is quoted at $85,794.18, reflecting a 3.74% decline in the past 24 hours. Despite this short-term dip, data suggests that most Bitcoin holders remain in profit. Around 88% of holders acquired BTC at a lower price, while 2% are at breakeven and 10% are at a loss. Ali Charts, a crypto analyst, has identified key price levels for Bitcoin. Strong support is seen at $59,882.62, with substantial buying activity at that level. Resistance is noted at $98,081.72, where a large volume of BTC was acquired. These levels may influence trading behavior in the coming weeks. Institutional Activity and Long-Term Holding Trends Recent on-chain data shows that institutional investors and long-term holders continue to play a major role in Bitcoin’s market stability. Over 73% of BTC supply is held for more than one year, indicating strong confidence in the asset. Additionally, 12% of Bitcoin is controlled by large holders, reducing risks of concentrated market manipulation. Transaction data also reflects increasing institutional involvement. In the past seven days, transactions exceeding $100,000 reached $135.82 billion, showing strong market activity. Moreover, net exchange outflows of $461.89 million suggest that more investors are transferring Bitcoin to private wallets, reducing immediate selling pressure. The OCC’s decision to allow banks to engage in crypto activities is expected to shape the financial sector’s approach to digital assets. As banks enter the crypto space, market participants will monitor regulatory developments and Bitcoin’s price performance closely. The post U.S. Regulators Clear Banks to Enter Crypto—Game Changer for BTC? appeared first on Coinfomania.

The cryptocurrency market is closely watching Chainlink ( #LINK ) as the asset appears to form a double bottom pattern, a classic technical indicator often signals a bullish reversal. According to a chart shared by popular analyst @ali_charts, LINK’s price movement suggests it could break out towards $21 if this pattern holds. 💬 #Chainlink $LINK appears to be forming a double bottom pattern, which could trigger a bullish breakout to $21! — Ali (@ali_charts) March 7, 2025 Chainlink is trading around $17.18, showing signs of recovering from its previous downturn. The double bottom formation is characterized by two distinct troughs at a similar price level, separated by a moderate peak. This pattern typically indicates a strong level of support, where buyers step in to prevent further declines, potentially leading to a sharp upward movement. The double bottom pattern is widely recognized among traders as a bullish reversal signal. It forms after a prolonged downtrend and signifies that selling pressure is weakening while demand increases. If Chainlink confirms this formation by breaking above the resistance level near $17.50, it could pave the way for a significant rally toward the $21 target. Examining Chainlink’s recent price action, the asset initially declined sharply, reaching a local bottom near $13.40 before rebounding. A second decline tested the same support zone, reinforcing its strength. The subsequent bounce suggests growing bullish sentiment, with buyers absorbing selling pressure at these levels. The key confirmation of the pattern lies in Chainlink breaking above the intermediate resistance at $17.50. A decisive move beyond this level would validate the bullish outlook and increase the probability of LINK rallying toward the $21 mark, where the next significant resistance could be encountered.