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Crypto

XRP breaks May downtrend line, fuels hopes of rebound to $1.32

XRP has formed an inverse head-and-shoulders pattern on the daily chart, supporting expectations of a rise to $1.32, an analysis said. The pattern remains valid as long as XRP holds above $1.09. The token also broke a downtrend line that had capped rebounds since May. Analysts cited whale-led exchange outflows and stronger futures positioning as bullish signals, while warning that a break below $1.09 could weaken the scenario.

Crypto

Ethereum on-chain metrics improve, but CryptoQuant says bottom not yet confirmed

Ethereum is trading about 17 percent below its realised price, a level that has often coincided with undervaluation and prolonged bottoms, CryptoQuant said. Relative metrics versus bitcoin have also improved, with lower exchange inflows, stabilising ETF holdings and softer ETH/BTC spot volume. But only 2 of 5 key bottom indicators have reached past reversal levels. Binance withdrawals hit a three-year high and 34 percent of supply is staked.

Crypto

Tesla posts $112 million fair-value loss on bitcoin in second quarter

Tesla recorded a $112 million pretax fair-value loss in the second quarter due to falling cryptocurrency prices, cutting net income even without selling assets. Net income attributable to common shareholders fell $87 million after tax and earnings per share dropped $0.02. Digital assets had a carrying value of $674 million at June 30. Under FASB rules, digital assets are revalued each quarter, with changes hitting net income immediately.