Bitcoin ETF

Gains

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/crypto-market-gains-strength-after-weeks-of-mixed-signals/" data-wpel-link="internal">Crypto Market Gains Strength After Weeks of Mixed Signals</a><br></p>
<p style="text-align: justify">After several weeks of permanent corrections and mixed signals, the <a href="https://en.coin-turk.com/bitcoins-adoption-in-argentina-soars-as-radical-right-winger-javier-milei-wins-presidency/" data-wpel-link="internal">cryptocurrency </a><a href="https://finance.coin-turk.com/" data-wpel-link="exclude">market</a> regained strength last week. <strong>Ripple (XRP)</strong> saw its first bullish recovery support at the $0.5 level, following positive CPI data. A small correction over the weekend due to profit-taking allowed for low-priced entries, creating a favorable environment for a rise to $0.54 on Monday.</p> 
<h2 id="ethereum-etf-approval">Ethereum ETF Approval</h2> 
<p style="text-align: justify">This week’s impressive performance was also reflected in the <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">news</a> surrounding spot <strong>Ethereum</strong> ETFs. As reported in the Ethereum price forecast, ETF analysts revised the chance of approval by the Securities and Exchange Commission (SEC) from 25% to 75%. Although the bullish trend surrounding the ETF continues, XRP faced increased volatility on Wednesday. According to CoinGecko data, this could explain a 3% correction to $0.5313 within 24 hours.</p> 
<p style="text-align: justify">The approval of a spot Bitcoin ETF in January led to a sudden shift towards a potential green light for Ethereum ETFs. Companies including <strong>BlackRock</strong>, Bitwise, Franklin Templeton, and more have doubled their efforts to run the product. There has been little talk about the possible approval of a spot ETF for the second-largest cryptocurrency in recent months. Experts’ optimism has waned due to limited communication between the SEC and ETF applicants.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-354550 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/xrp-3.jpg" alt="" width="908" height="482"></p> 
<h2 id="ripple-price-analysis">Ripple Price Analysis</h2> 
<p style="text-align: justify">The popular altcoin <strong>XRP</strong> highlighted its bullish outlook by trading at $0.5224 above the 20-day exponential moving average (EMA). A visible Bollinger Band squeeze confirms a potential breakout targeting $1 in the coming weeks. A daily close above $0.536, above the 50-day EMA, could strengthen the current and subsequent bullish structure in the cryptocurrency. As the Bollinger Bands tighten further, the chance and magnitude of a breakout increase.</p> 
<p style="text-align: justify">If XRP rises above the 200-day EMA, FOMO could ignite a significant move narrowing the gap to $1. Key milestones that XRP needs to complete to confirm its long-term bullish trend include resistance levels at $0.6, $0.7, and $0.8.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/crypto-market-gains-strength-after-weeks-of-mixed-signals/" data-wpel-link="internal">Crypto Market Gains Strength After Weeks of Mixed Signals</a></h5>

Crypto Market Gains Strength After Weeks of Mixed Signals

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