Ripple CEO Monica Long emphasized the potential of an XRP ETF during a recent interview, highlighting that the evolving landscape of U.S. cryptocurrency legislation is paving the way for new
XRP price is holding the ground above $2.25 despite pressure on Bitcoin. The price is now consolidating and aiming for a fresh increase above the $2.40 resistance. XRP price is showing a few positive signs above the $2.25 zone. The price is now trading below $2.3650 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair might start a fresh increase if it stays above the $2.250 support. XRP Price Consolidates Below $2.50 XRP price failed to extend gains above the $2.40 and $2.45 resistance levels. The price reacted to the downsides, but losses were limited compared to Bitcoin and Ethereum . There was a move below the $2.32 and $2.25 support levels. The last swing low was formed at $2.202, and the price is now consolidating. There was a move above the $2.25 level. The price cleared the 50% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low. The price is now trading below $2.3650 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $2.380 level. There is also a key bearish trend line forming with resistance at $2.380 on the hourly chart of the XRP/USD pair. The first major resistance is near the $2.40 level or the 76.4% Fib retracement level of the downward move from the $2.47 swing high to the $2.202 low. The next resistance is $2.45. A clear move above the $2.45 resistance might send the price toward the $2.50 resistance. Any more gains might send the price toward the $2.650 resistance or even $2.6650 in the near term. The next major hurdle for the bulls might be $2.720. More Losses? If XRP fails to clear the $2.400 resistance zone, it could start another decline. Initial support on the downside is near the $2.320 level. The next major support is near the $2.250 level. If there is a downside break and a close below the $2.250 level, the price might continue to decline toward the $2.20 support. The next major support sits near the $2.120 zone. Technical Indicators Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $2.32 and $2.250. Major Resistance Levels – $2.380 and $2.400.
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The Gelephu Mindfulness City in Bhutan has made headlines by announcing its plans to adopt digital assets like Bitcoin and Ethereum as part of its strategic reserves. This initiative highlights
Oklahoma bill aims to integrate Bitcoin into everyday transactions. Oklahoma State Senator Dusty Deevers has filed the “Bitcoin ( BTC ) Freedom Act” (SB325), which might signal a key step toward incorporating cryptocurrencies into conventional financial systems in the state. You might also like: Bitcoin price is still bullish despite recent weakness: legendary trader According to Bitcoin Magazine , the law would allow Oklahoma workers to choose BTC as their pay option and companies to take BTC payments from clients. The approach prioritizes choice for all parties and upholds free-market ideals by requiring participation to be completely voluntary. JUST IN: 🇺🇸 Oklahoma Senator Dusty Deevers files "the Bitcoin Freedom Act" to allow workers to be paid in #Bitcoin pic.twitter.com/jhhMm23bhD — Bitcoin Magazine (@BitcoinMagazine) January 8, 2025 In light of the growing attention paid to decentralized currencies worldwide, this development is part of a larger trend of BTC adoption in the United States. Recently, former President Donald Trump won the U.S. election, which has given the crypto discussion a new angle. Despite earlier opposing BTC , Trump’s 2024 campaign has expressed openness to novel financial technology, a posture that could influence federal-level crypto legislation and significantly speed up BTC’s popularity when Trump officially takes office as the 47th president of the United States. You might also like: Texas investor ordered to submit keys to $124m Bitcoin fortune As the state legislature prepares for its 60th session, starting on Feb. 3, 2025, all eyes will be on whether Oklahoma can set the standard for providing payment options to individuals and businesses in a changing financial ecosystem. The trajectory of BTC has already seen massive surges in interest during key political and economic moments, making the introduction of Oklahoma’s SB325 another layer in the ongoing shift toward cryptocurrency adoption.
Oklahoma bill aims to integrate Bitcoin into everyday transactions. Oklahoma State Senator Dusty Deevers has filed the “Bitcoin (BTC) Freedom Act” (SB325), which might signal a key step toward incorporating cryptocurrencies into conventional financial systems in the state. According to…
The post XRP Price Prediction For January 9 appeared first on Coinpedia Fintech News Ripple’s XRP is currently trying to rise above the crucial $2.40 level. The price recently dipped more than 5-6 percent, erasing the gains made in the last week. XRP could still experience some upward movement, though key levels are crucial for understanding whether the market sentiment is shifting. Key Levels to Watch XRP is currently in a consolidation phase , which could exist for a while. However, on a smaller time frame, this phase may be nearing its end. A final upward move could complete a larger 5th wave, potentially driving XRP to new all-time highs. The most recent Wave 4 bottomed in July 2023, with the market possibly entering the 5th wave upward. Resistance Zones (Long Term) Key resistance levels to monitor are the all-time high of $3.30 from December 2017. Above that, the next resistance points are $4.20 and $5.00. If XRP manages to reach a new high, a major correction could follow, similar to the previous Wave 2. This correction could be both deep and long, so caution is advised. Short-Term Market Structure On the smaller time frame, XRP is currently forming a triangle pattern, hinting at a market indecision. This typically precedes another upward move. A break above the $2.46 level would signal that a low has formed, potentially paving the way for new all-time highs. Current Support Levels Key support levels are between $2.29 and $2.40. If XRP falls below $1.96, it would signal a larger correction, though not necessarily a continuation of the triangle pattern. To keep the bullish outlook intact, XRP must hold above this green support zone. What’s Next for XRP? If XRP breaks above the last swing high at $2.46, it could signal the beginning of a move towards new highs. Until then, attention is focused on whether the price can hold at support and generate a strong reaction.