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Crypto

XRP stuck in range despite ecosystem tailwinds; breakout a key test

XRP has failed to break out of a $1.25 to $1.60 trading range for 10 weeks despite recent positive ecosystem developments. Market watchers say technical price structure is driving the move more than near-term news. Analyst ChartNerd said XRP has been forming a parallel channel between the 20-week and 50-week exponential moving averages for about two months after a 70 percent surge in August. The next trend hinges on a clear break above resistance or a loss of support.

Crypto

Crypto influencer says XRP could reach $2 after breaking $1.55 resistance

XRP must first break a $1.52 to $1.55 resistance zone that has capped gains for months before it can reach $2, an analysis said. Crypto influencer Ash Crypto said $2 would be easy if XRP moves above that range. XRP has recently traded between $1.27 and $1.32, and reaching $2 from $1.27 would require about a 57 percent rise. Analyst CasiTrades cited $1.65 as a key resistance.

Crypto

Bitcoin bullish bets flash red as $85.9 million in long positions liquidated

Bitcoin is trading below $81,993, the average entry price for the largest cluster of net long positions, raising pressure on investors betting on gains. Data showed 64 percent of net long notional was entered above the spot price. In the past 24 hours, broader crypto liquidations totalled $481.25 million, including $346.15 million in long liquidations. Bitcoin liquidations were $95.06 million, with $85.9 million in longs.