XRP price started a fresh decline below the $2.250 and $2.20 support levels. The price is now consolidating losses and remains at risk of more losses. XRP price started a fresh decline below the $2.250 level. The price is now trading below $2.220 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.20 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might continue to move down unless there is a close above the $2.30 resistance zone. XRP Price Dips Further XRP price failed to continue higher above the $2.350 resistance zone and started a fresh decline, like Bitcoin and Ethereum . There was a move below the $2.25 and $2.20 support levels. The price even dipped below the $2.120 support to enter a bearish zone. A low was formed at $2.0220 and the price is now struggling to stay above $2.0. The price is showing many bearish signs below the 23.6% Fib retracement level of the downward move from the $2.363 swing high to the $2.022 low. The price is now trading below $2.10 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.120 level. The first major resistance is near the $2.20 level or the 50% Fib retracement level of the downward move from the $2.363 swing high to the $2.022 low. There is also a key bearish trend line forming with resistance at $2.20 on the hourly chart of the XRP/USD pair. The next resistance is $2.30. A clear move above the $2.30 resistance might send the price toward the $2.350 resistance. Any more gains might send the price toward the $2.420 resistance or even $2.450 in the near term. The next major hurdle for the bulls might be $2.50. More Losses? If XRP fails to clear the $2.20 resistance zone, it could start another decline. Initial support on the downside is near the $2.020 level. The next major support is near the $2.00 level. If there is a downside break and a close below the $2.00 level, the price might continue to decline toward the $1.9650 support. The next major support sits near the $1.880 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level. Major Support Levels – $2.020 and $2.00. Major Resistance Levels – $2.20 and $2.30.
Crypto derivatives platform BitMEX is reportedly looking for a buyer, signaling a potential shake-up in the digital asset trading industry. The exchange, once a dominant player in the crypto derivatives market, has enlisted Broadhaven Capital Partners, an investment banking firm, to facilitate a sale, according to a CoinDesk report . The development comes as BitMEX grapples with legal troubles, including a hefty $100 million fine over anti-money laundering violations. Broadhaven Capital Partners specializes in mergers and acquisitions (M&A) advisory and has worked with several financial institutions in securing strategic deals. The search for a buyer underscores the competitive landscape of the crypto derivatives market, where leading platforms are looking to consolidate their positions. BitMEX, founded in 2014, was once a pioneer in Bitcoin futures trading, but it has faced growing competition from rivals like Deribit, Binance, and Bybit. BitMEX’s reported sale efforts come amid a wave of mergers and acquisitions in the crypto industry. Notably, Deribit, the world’s leading Bitcoin and Ethereum options exchange, has been at the center of a bidding war between Coinbase and Kraken as both firms seek to expand their derivatives offerings. Meanwhile, FalconX, a prime brokerage firm, recently acquired Arbelos Markets , a trading firm specializing in crypto derivatives. The deal is part of FalconX’s expansion strategy to strengthen its presence in the derivatives sector, an area of growing interest for institutional investors. BitMEX’s attempt to find a buyer comes just over a month after a US court ordered the exchange to pay a $100 million fine for violating anti-money laundering laws. This follows a 2022 guilty plea from BitMEX and its co-founders, who had already paid $110 million in penalties. The legal troubles stem from a 2020 indictment that led to Arthur Hayes stepping down as CEO. The US Department of Justice had accused BitMEX’s leadership —including co-founders Ben Delo and Samuel Reed—of failing to implement proper compliance measures, allowing illicit transactions to flow through the exchange. As BitMEX explores a sale, the outcome could reshape the competitive landscape of the crypto derivatives industry. Whether a major player acquires the platform or it struggles to find a buyer remains to be seen. With regulatory scrutiny tightening, the fate of BitMEX will likely influence how other crypto exchanges navigate compliance and M&A strategies moving forward. The post Crypto derivatives platform BitMEX reportedly seeking buyer amid market shifts appeared first on Invezz
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According to a recent report by Dawn, Pakistan is set to establish a National Crypto Council to oversee digital asset regulation in the country. This decision marks a significant policy shift as Pakistan moves toward embracing cryptocurrencies, a stance that contrasts with its previous resistance. Pakistan To Create Crypto Council Since US President Donald Trump’s victory in the November 2024 election, countries around the world have been steadily adopting a more favorable attitude toward digital assets. Trump’s campaign had strongly advocated for crypto-friendly regulations, and his administration has followed through with policies supporting digital assets. Against this backdrop, Pakistan has emerged as one of the latest major countries to publicly announce a complete turnaround in its approach to digital assets. In a landmark decision , the South Asian nation legalized cryptocurrencies in November 2024, signalling a departure from its long-standing resistance to digital assets. Now, in a further step toward regulating the industry, Pakistan is planning to create a National Crypto Council that will focus on developing legislation for the rapidly growing digital asset sector. This initiative follows a recent meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and a delegation of US officials, including Trump’s newly appointed digital asset advisors. The proposed council will consist of government representatives, regulatory authorities, and industry experts. The report reads in part: This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner. The council will also collaborate with friendly countries to develop standardised frameworks for international digital economic engagement. It is worth noting that as recently as last year, both the Pakistani government and its central bank maintained a strict stance against digital assets. A former finance minister had even declared that digital assets would never be legalized in the country. However, the government’s latest policy shift indicates a complete reversal of this position. Finance Minister Aurangzeb’s progressive stance on digital assets suggests that Pakistan is now committed to establishing a well-regulated and positive framework for the digital assets industry. The move aligns with international best practices and complies with Financial Action Task Force (FATF) guidelines, which aim to prevent financial crimes and money laundering. Aurangzeb has also emphasized the importance of blockchain technology in modernizing Pakistan’s financial sector. He has directed relevant stakeholders to develop a comprehensive regulatory framework that ensures security, transparency, compliance with global regulatory standards, and economic viability while safeguarding against illicit financial activities. The Pakistani Finance Minister’s remarks suggest that Pakistan is not just looking to legalize digital assets, but also intends to integrate blockchain technology into its financial infrastructure to promote efficiency and innovation. Crypto Regulations In Asia At A Glance Digital asset regulations in Asia differ significantly depending on the country. For instance, unlike Pakistan, India continues to maintain a harsh stance on digital assets, imposing high taxes on crypto transactions to discourage people from engaging with the industry. India’s stance on cryptocurrencies is interesting given the fact that the country leads the world in terms of crypto adoption. Neighbouring country Bhutan surprised the world last year when it revealed its massive Bitcoin (BTC) holdings. Moving east, Singapore and Taiwan have emerged as two of the most pro-crypto nations in the world. Conversely, China continues to make crypto trading harder for its residents. Further east, South Korea and Japan appear to be following a cautious approach toward cryptocurrencies. At press time, BTC trades at $85,147, down 2.8% in the past 24 hours.
Amid a broader decline in the crypto market and the ongoing US tariff war with other countries, Bitcoin…
Bitcoin’s price has dipped below $80,000 for the first time in over three months, driven by rising macroeconomic uncertainties related to proposed tariffs. The recent decline marks a significant turnaround
The crypto market has recently observed a significant **transaction** involving a dormant wallet, which had remained silent for **2.5 years**. On February 28, data from **Onchain Lens** revealed that this
In a recent statement shared on social media, Matt Hougan, the Chief Investment Officer of Bitwise, emphasized the strategic timing for Bitcoin acquisitions. He noted that, when adjusting for risk
The US stock market witnessed significant turmoil on February 28, with all three major indices experiencing considerable declines. The Dow Jones Industrial Average fell by 0.43%, while the S&P 500
Ethereum price started a fresh decline from the $2,350 resistance zone. ETH is now consolidating losses and might extend losses toward the $2,000 support. Ethereum is facing an increase in selling below the $2,350 zone. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2,260 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent recovery wave if it settles above $2,250 and $2,350. Ethereum Price Dips Further Ethereum price failed to clear the $2,450 resistance zone and started a fresh decline, like Bitcoin . ETH gained pace below the $2,350 and $2,320 support levels to move further in a bearish zone. The price declined over 5% and even traded below the $2,220 support zone. A low was formed at $2,123 and the price is now consolidating losses. It is showing many bearish signs below the 23.6% Fib retracement level of the downward wave from the $2,520 swing high to the $2,123 low. Ethereum price is now trading below $2,250 and the 100-hourly Simple Moving Average . There is also a key bearish trend line forming with resistance at $2,260 on the hourly chart of ETH/USD. On the upside, the price seems to be facing hurdles near the $2,220 level. The first major resistance is near the $2,250 level or the trend line and the 50% Fib retracement level of the downward wave from the $2,520 swing high to the $2,123 low. The main resistance is now forming near $2,350. A clear move above the $2,360 resistance might send the price toward the $2,450 resistance. An upside break above the $2,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term. More Losses In ETH? If Ethereum fails to clear the $2,250 resistance, it could start another decline. Initial support on the downside is near the $2,120 level. The first major support sits near the $2,050 zone. A clear move below the $2,050 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,880 support level in the near term. The next key support sits at $1,750. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,120 Major Resistance Level – $2,260