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Crypto

Three scenarios for XRP; $0.80 support mentioned if $1 breaks

XRP has rebounded after sliding to the $1 level, leaving it at a short-term turning point, a blockchain outlet reported. Selling followed the release of the May personal consumption expenditures price index, and XRP fell for three straight sessions, retreating to $1.06. The report outlined three scenarios: continued rebound with $1.06 acting as support; a narrow range as markets await a catalyst; or a renewed break below $1, with $0.80, $0.62 and $0.51 cited as potential supports.

Crypto

Strategy opts for capital raising over selling bitcoin, analysis sees possible 80% stock drop

Strategy common stock MSTR could fall by around 80% as its monthly chart forms a head-and-shoulders pattern similar to one seen before the dotcom bust, an analysis said. The key neckline is in the $100 to $105 range, with a longer-term downside target of around $20 if the stock breaks below. The report also cited shrinking cash holdings and a rising preferred dividend burden, raising concerns about dilution.

Crypto

XRP could have risen to $24 if SEC lawsuit had not happened, analysis finds

An analysis said XRP could have risen above $24 in the 2021 bull market if there had been no U.S. Securities and Exchange Commission lawsuit. Market analyst Jungle Inc argued that applying bitcoin’s gains between recent bull-market peaks to XRP implies a potential record high of about $24.50. He said SEC action against Ripple in December 2020 created obstacles that kept XRP from fully participating in the broader rally.