Author: dfmines

XRP price failed to continue higher above $2.35 and declined. The price is down over 5% and is showing bearish signs below the $2.20 level. XRP price started another decline below the $2.250 support level. The price is now trading below $2.25 and the 100-hourly Simple Moving Average. There was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $2.120 support. XRP Price Dips Again XRP price failed to clear the $2.35 resistance and started a fresh decline, like Bitcoin and Ethereum. There was a sharp move below the $2.30 and $2.50 support levels. Besides, there was a break below a key declining channel with support at $2.235 on the hourly chart of the XRP/USD pair. The pair declined over 5% and even tested the $2.120 zone. A low was formed at $2.126 and the price is now consolidating losses. It corrected some losses and climbed above $2.15. It tested the 23.6% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. The price is now trading below $2.25 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.18 level. The first major resistance is near the $2.20 level. The next resistance is $2.24 or the 50% Fib retracement level of the recent decline from the $2.348 swing high to the $2.126 low. A clear move above the $2.24 resistance might send the price toward the $2.30 resistance. Any more gains might send the price toward the $2.320 resistance or even $2.350 in the near term. The next major hurdle for the bulls might be $2.450. More Losses? If XRP fails to clear the $2.24 resistance zone, it could start another decline. Initial support on the downside is near the $2.12 level. The next major support is near the $2.10 level. If there is a downside break and a close below the $2.10 level, the price might continue to decline toward the $2.050 support. The next major support sits near the $2.00 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.120 and $2.100. Major Resistance Levels – $2.180 and $2.240.

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Ethereum price started a fresh decline from the $3,550 resistance. ETH is now showing bearish signs and might slide below the $3,300 level. Ethereum started a fresh decline from the $3,550 zone. The price is trading below $3,450 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could gain bearish momentum if it settles below the $3,300 level. Ethereum Price Dips To Support Ethereum price struggled to continue higher above the $3,550 resistance and started a fresh decline like Bitcoin. ETH traded below the $3,450 and $3,420 support levels. There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH/USD. The pair even dipped below the 50% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high. Ethereum price is now trading below $3,450 and the 100-hourly Simple Moving Average. It is now testing the $3,300 support and is above the 76.4% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high. On the upside, the price seems to be facing hurdles near the $3,380 level. The first major resistance is near the $3,420 level. The main resistance is now forming near $3,500. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance. An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,420 resistance, it could continue to move down. Initial support on the downside is near the $3,320 level. The first major support sits near the $3,300. A clear move below the $3,300 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,110. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,300 Major Resistance Level – $3,420

Some crypto traders suggest that altcoins may be a better pick than Bitcoin “at this juncture,” though not everyone agrees.

Bitwise has filed for an ETF that would invest in large market cap public companies with at least 1,000 Bitcoin on their balance sheets.

Bitcoin price failed to surpass $100,000 and corrected gains. BTC is back below $96,500 and might revisit the $93,200 support zone. Bitcoin started a fresh decline from the $99,400 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,000 support zone. Bitcoin Price Dips Again Bitcoin price started a decent upward move above the $96,500 resistance zone. BTC was able to climb above the $97,500 and $98,000 resistance levels. The pair cleared the $99,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price recently started a fresh decline. There was a move below the $96,500 support. The price dipped below the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. Besides, there was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average. The price is now holding the $95,000 zone and the 61.8% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. On the upside, immediate resistance is near the $96,400 level. The first key resistance is near the $97,750 level. A clear move above the $97,750 resistance might send the price higher. The next key resistance could be $99,000. A close above the $99,000 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level. More Losses In BTC? If Bitcoin fails to rise above the $96,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $95,200 level. The first major support is near the $95,000 level. The next support is now near the $93,800 zone. Any more losses might send the price toward the $92,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $95,000, followed by $93,800. Major Resistance Levels – $96,500 and $97,750.

Binance expects India to lead global crypto regulation in 2025, driven by progressive frameworks aimed at boosting trust, fostering innovation, and expanding blockchain utility. Will 2025 Be the Year India Leads the Global Crypto Regulatory Race? India’s role in cryptocurrency regulation is drawing attention, with Binance expressing optimism that the country will take a leading […]

The newly launched PENGU token has stolen the spotlight after becoming the largest Solana-based memecoin by market capitalization. The token’s rally has gathered massive interest from large-scale investors, who have heavily invested in the token over the last few days. Related Reading: ONDO Faces 30% Correction Risk If It Loses $1.46 Support – Top Analyst New Solana Token Steals The Spotlight On December 17, the Pudgy Penguins Non-Fungible Token (NFT) project launched its official token, PENGU, on the Solana Blockchain. The token has moved through the ranks, flipping other Solana-based tokens and gathering massive attention in nine days. Pudgy Penguins, one of the largest NFT collections, consists of 8,888 unique cartoons of cute penguins and has a market capitalization of 205,757 ETH. In anticipation of the token launch, the project surged as the second-largest NFT collection, only falling behind CryptoPunks. Since its launch three years ago, the project has seen its community significantly grow and “cemented itself in the hearts and minds of everyday people and culture,” according to the project’s team. Additionally, it is expected to contribute to the project’s governance despite not having a specific use case announced yet. As such, the newly launched cryptocurrency aims to “expand its community and further widen the reach” of the project by allowing old and new users “to align” themselves with the penguins. According to CoinGecko data, the Solana-based memecoin debuted with a 500% surge to a market capitalization of $3.5 billion but registered massive volatility in the following days. Just hours after launching, PENGU’s price retraced over 50% before descending to a $1.4 billion market cap on December 20. The token hovered between the $0.025-$0.037 range over a few days, stabilizing around the range’s upper zone on Christmas Eve. Whales Fill Their Bags As PENGU Flips BONK Amid the market’s momentary Christmas Day gains, the token broke above this range and climbed to the $0.042 mark on Thursday morning, hitting a $2.6 billion market cap. During this 18% rally, the token flipped dogwifhat (WIF) and BONK to become the largest Solana memecoin by market cap, currently holding its position as the sector’s leader. PENGU became the fourth largest memecoin by this metric, just behind Dogecoin, Shiba Inu, and PEPE. Additionally, in the last 24 hours, the token has seen a 25% increase in market activity, with a daily trading volume of $1.92 billion. According to on-chain data analysis firm Lookonchain, Crypto whales have also noticed PENGU’s rally, with several large-scale investors filling their bags over the past week. Related Reading: Analyst Forecast ‘Highly Bullish’ 2025 For Ethereum: Is The Bleeding Over? On December 24, a whale that had received an airdrop of 116.7 million PENGU, worth $3.52 million, increased its holding with a $1 million purchase. According to the post, the wallet spent 5,250 SOL to buy an additional 34.42 million PENGU, holding a total of 151.12 million PENGU, valued at $5.08 million. Similarly, another whale exchanged 500,000 ai16z, another trending Solana-based memecoin, today for PENGU. In the past eight days, this investor has spent $2.47 million to buy 79.9 million PENGU, having unrealized profits of around $835,000. As of this writing, PENGU is trading at $0.038, a 4.8% increase in the daily timeframe. Featured Image from Unsplash.com, Chart from TradingView.com

CryptoQuant’s CEO Ki Young Ju dismissed the idea that private CoinJoin transactions are mostly used by hackers to launder stolen funds.