Category: Cryptocurrency News

XRP price found support near the $0.5600 zone. The price is again rising and might aim for a break above the $0.60 resistance zone. XRP price remained supported near the $0.560 zone. The price is now trading above $0.5750 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $0.5750 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could gain bullish momentum if it clears the $0.590 and $0.600 resistance levels. XRP Price Regains Strength XRP price started a fresh decline from the $0.5985 zone like Bitcoin and Ethereum. The price declined below the $0.5750 support zone, but the bulls were active near the $0.560 zone. A low was formed at $0.5597 and the price started a fresh upward move, beating BTC and ETH. There was a steady increase above the $0.570 and $0.5720 resistance levels. It cleared the 50% Fib retracement level of the downward move from the $0.5989 swing high to the $0.5597 low. There was a break above a connecting bearish trend line with resistance at $0.5750 on the hourly chart of the XRP/USD pair. The price is now trading above $0.5750 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5890 level. It is close to the 76.4% Fib retracement level of the downward move from the $0.5989 swing high to the $0.5597 low. The first major resistance is near the $0.590 level. The next key resistance could be $0.600. A clear move above the $0.600 resistance might send the price toward the $0.6120 resistance. The next major resistance is near the $0.6250 level. Any more gains might send the price toward the $0.6320 resistance or even $0.6440 in the near term. Another Decline? If XRP fails to clear the $0.590 resistance zone, it could start another decline. Initial support on the downside is near the $0.5765 level. The next major support is $0.5750. If there is a downside break and a close below the $0.5750 level, the price might continue to decline toward the $0.560 support in the near term. The next major support sits at $0.5420. 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 – $0.5765 and $0.5600. Major Resistance Levels – $0.5900 and $0.6000.

Bhutan is the 4th largest government holder of BTC. submitted by /u/hiorea [link] [comments]

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Mercado Libre, Latin America’s e-commerce and financial services giant, has announced that it will expand its previously launched Meli Dólar, an in-house developed dollar-pegged stablecoin, to other countries. The token, developed in partnership with the Argentina-based crypto exchange Ripio, will be launched in Mexico, according to Juan Vita, Senior Director of Product at Mercado Pago. […]

Data shows that the sentiment of the Bitcoin market has switched to fear after the retrace. BTC has seen a $58,000 level during the past day. Bitcoin Fear & Greed Index Is Pointing At ‘Fear’ Now The “Fear & Greed Index” is an indicator created by Alternative that tells us about the general sentiment among the investors in the Bitcoin and the wider cryptocurrency market. Related Reading: Ethereum In Danger: Analyst Explains What Could Trigger Crash To $1,800 Market sentiment can be helpful to follow as it can reflect the cryptocurrency’s price. It sometimes plays a role in the asset’s trajectory, which may be unexpected to many investors. The Fear & Greed Index uses data from the following five factors to estimate the average sentiment among investors: volatility, trading volume momentum, social media sentiment, market cap dominance, and Google Trends. Based on these factors, the metric represents this mentality as a score between zero and hundred. The index having a value greater than 53 implies the presence of greed among the investors, while under 47 suggests fear in the market. The values in between these two cutoffs suggest a net-neutral mentality. Now, here is what the latest Bitcoin market sentiment has looked like from the perspective of the indicator: As is visible above, the Bitcoin Fear & Greed Index has a value of 39, which suggests that the majority of the investors in the market are slightly fearful at the moment. This is a notable change from yesterday, when the index had a value of 51, and the holders had been sharing a neutral mentality. The chart below shows a record of all the changes in the index over the past year. As displayed in the graph, the Bitcoin Fear & Greed Index saw a sharp improvement over the weekend, caused by the recovery that the asset price had enjoyed beyond the $60,000 mark. However, the cryptocurrency has kicked off the new week with a plunge back towards $58,000, which may be why the sentiment has also seen a reset to the fear region. That said, while the index is back in the fear zone, it’s not yet at the 31 value it was at before the earlier recovery. This fact, however, may not be a good sign for the asset. Historically, Bitcoin has tended to move against the expectations of the majority. The probability of a contrary move occurring has only increased the more the investors have become sure of a direction. Related Reading: Bitcoin Sentiment Spikes After Mild Price Jump: Crowd Too Excited Too Quickly? Thus, when the Fear & Greed Index assumes low values (signifying a special sentiment called the extreme fear), bottoms can be probable to occur. Similarly, it being high (extreme greed) can signal tops. With the Bitcoin market being only slightly fearful right now, it seems the pullback in the cryptocurrency hasn’t been enough to deal a heavy blow to investor morale. Naturally,  a pullback can still occur for the coin, but it may be less likely if sentiment worsens further. BTC Price Bitcoin has dropped more than 3% over the past day, which has taken its price to $58,100. Featured image from Dall-E, Alternative.me, chart from TradingView.com

In an open letter, scientists shared worry that the loss of human control or malicious use of AI systems could lead to catastrophic outcomes for all of humanity. 

UN Secretary-General António Guterres warned that unregulated artificial intelligence (AI) poses a risk to democratic systems, exacerbating disinformation and gender inequality. He urged countries to establish AI governance guidelines and promote responsible use. Guterres noted AI’s potential benefits, including enhanced public participation and equality, but emphasized the need for international cooperation to mitigate risks. UN […]

Ethereum price gained bearish momentum and traded below $2,350. ETH is consolidating losses and might struggle to recover above $2,350. Ethereum started another decline below $2,350 and $2,320. The price is trading below $2,310 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,360 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,360 resistance to start a recovery wave in the near term. Ethereum Price Starts Consolidation Ethereum price failed to clear the $2,450 resistance and started another decline like Bitcoin. ETH traded below the $2,400 and $2,350 support levels to enter a bearish zone. The price even dived below the $2,320 level. A low was formed at $2,253 and the price is now consolidating losses. There was a minor recovery wave above the $2,285 level. The price tested the 23.6% Fib retracement level of the downward wave from the $2,466 swing high to the $2,253 low. Ethereum price is now trading below $2,310 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,300 level. There is also a declining channel forming with resistance at $2,300 on the hourly chart of ETH/USD. The first major resistance is near the $2,340 level. The next key resistance is near $2,360 or the 50% Fib retracement level of the downward wave from the $2,466 swing high to the $2,253 low. There is also a major bearish trend line forming with resistance at $2,360 on the same chart. An upside break above the $2,360 resistance might call for more gains. In the stated case, Ether could rise toward the $2,420 resistance zone in the near term. The next hurdle sits near the $2,465 level. More Losses In ETH? If Ethereum fails to clear the $2,360 resistance, it could start another decline in the near term. Initial support on the downside is near $2,265. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward $2,200. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,250 Major Resistance Level – $2,300

SEC commissioners Hester Peirce and Mark Uyeda didn’t believe any US securities laws were triggered and urged the commission to give NFT firms more room to experiment.

Donald Trump didn’t share any details about his family’s new crypto platform during his 45-minute talk on X, but the team later revealed that a token would be launched.