Coindesk

XRP Price Surges After V-Shaped Recovery, Targets $3.40

Global economic tensions and regulatory developments continue to influence XRP's price action, with the digital asset showing remarkable resilience despite recent volatility. After experiencing a significant dip to $2.307 on high volume, XRP has established an upward trajectory with a series of higher lows, suggesting continued momentum as it approaches resistance levels. Technical indicators point to a potential bullish breakout, with multiple analysts highlighting critical support at $2.35-$2.40 that must hold for upward continuation.Technical Analysis HighlightsPrice experienced a 3.76% range ($2.307-$2.396) over 24 hours with a sharp sell-off at 16:00 dropping to $2.307 on high volume (77.9M).Strong support emerged at $2.32 level with buyers stepping in during high-volume periods, particularly during the 13:00-14:00 recovery.Asset established upward trajectory, forming higher lows...

SUI Surges After Finding Strong Support at $3.75 Level

Global economic tensions and shifting trade policies continue to influence cryptocurrency markets, with SUI showing particular resilience.The asset established a trading range of 4.46% between $3.70 and $3.86, finding strong volume support at the $3.755 level.A notable bullish momentum emerged with price surging 1.9% on above-average volume, establishing resistance at $3.850. The formation of higher lows throughout the latter part of the day suggests consolidation above the $3.775 support level.Technical Analysis HighlightsSUI established a 24-hour trading range of 0.165 (4.46%) between the low of 3.700 and high of 3.862.Strong volume support emerged at the 3.755 level during hours 17-18, with accumulation exceeding the 24-hour volume average by 45%.Notable bullish momentum occurred in the 20:00 hour with price surging 7.2 cents...

BNB Trades in Tight Range Amid Decreasing Volatility

The cryptocurrency market continues to navigate complex global economic conditions as BNB trades within a tight consolidation range between $636-$646, according to CoinDesk Research's technical analysis data model.The token's price action shows resilience amid international trade disputes, with higher lows forming since recent dips while resistance remains firm around the $643-$645 zone. Decreasing volume volatility suggests energy buildup for a potential breakout, though direction remains uncertain as traders closely monitor both technical patterns and macroeconomic developments affecting market sentiment.Technical Analysis HighlightsBNB traded within a narrow $9.67 range (1.52%) between $636.25 and $645.92 over 24 hours.Price formed a series of higher lows since the 13:00 dip, establishing support around $638-$640.Resistance emerged near $643-$645 with notable volume spikes during recovery rallies.Closing...

Over $5B Pouring into Bitcoin ETFs – Thanks to Bold Directional Bets

Billions of dollars have flowed into the U.S.-listed spot bitcoin BTC exchange-traded funds (ETFs) in recent weeks, as the cryptocurrency chalked out a sharp recovery rally from $75,000 to $100,000.Most of the investment is likely driven by bold, strategic bullish directional bets rather than market-neutral arbitrage plays, data analysis suggests.The 11 spot ETFs drew in $2.97 billion in investor money in April, with an additional $2.64 billion flowing in so far this month, according to data source SoSoValue. That has boosted the net inflow since inception in January 2024 to over $41 billion.Institutions have historically used these ETFs to set up non-directional arbitrage plays to profit from price discrepancies between futures and spot bitcoin markets. The so-called cash and carry...

Alabama Man Sentenced for Hacking SEC’s Social Media to Post Fake Bitcoin ETF News

A 26-year-old man from Alabama has been sentenced to more than a year in prison for his role in a social media hack that briefly sent the price of bitcoin BTC soaring.Eric Council Jr. of Huntsville pleaded guilty to charges tied to the January 2024 hack of the U.S. Securities and Exchange Commission’s X account, according to a U.S. Department of Justice press release.Posing as a telecom customer using a fraudulent ID, Council used a SIM-swap technique to hijack a phone number tied to the SEC’s account. His co-conspirators then used it to falsely post that the agency had approved spot bitcoin exchange-traded funds (ETFs), a long-awaited regulatory milestone.Within minutes, the price of bitcoin surged by more than $1,000. It...