Cryptocurrency

2024

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/on-chain-activity-affects-cryptocurrency-markets-negatively/" data-wpel-link="internal">On-Chain Activity Affects Cryptocurrency Markets Negatively</a> 
Cryptocurrency markets were negative today due to on-chain activity showing continued MTGOX returns. Despite the ETH ETF listing, BTC was below $66,000 at the time of writing. Long-term positive developments seem overshadowed by short-term negativity, but this may indicate a delayed rise. So, what is the status of <a href="https://en.coin-turk.com/xrp-price-increases-after-recent-drop/" data-wpel-link="internal">XRP</a> Coin? 
<h2 style="text-align: justify" id="xrp-coin-2024-prediction">XRP Coin 2024 Prediction</h2> 
Since 2021, the XRP Coin <a>price</a> hasn’t seen above $1. The legal battle with the SEC, ongoing since the end of 2020, has largely concluded. Although Ripple has made significant gains, we can’t speak of a definitive victory. Last July, news of BlackRock’s ETF application for XRP Coin spurred a test above $0.9, but the application turned out to be fake. 
The weekly chart shows a symmetrical triangle squeezing the price since 2018. The upper trend line is being reversed by XRP Coin bulls, and if successful, we could see a breakout to the main resistance level at $1 in the coming months. For this, we need to see closures above $0.86, a nearly 50% increase. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-373228 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/XRP-Coin-2024-hedefi.png" alt="" width="1700" height="832"> 
The RSI on the weekly chart is recovering from the neutral zone, indicating that buyer momentum is starting to reverse after prolonged negativity. 
<h2 style="text-align: justify" id="future-of-xrp-coin">Future of XRP Coin</h2> 
According to Santiment data, while the price has diverged positively in recent weeks, whale interest continues. The largest group’s token holdings increased from 40.24% to 41.44%. Additionally, addresses holding between 1 million and 10 million XRP Coin are also accumulating. On the other hand, the growing interest from professional <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> may be fueled by a possible settlement with the SEC. 
The ongoing lawsuit has certainly not been in the SEC’s favor. Moreover, with the approval of the ETH ETF, Gensler lost a significant battle against altcoins. He aims to leave office by February, and departing without resolving this issue would further tarnish his record. There have been many embarrassing moments for his staff throughout the lawsuit. 
In 2023, Judge Analisa Torres largely declared victory for Ripple by ruling that XRP is not a security when sold on digital asset exchanges. Even if institutional sales are considered securities, they could be settled with a reasonable penalty. The meeting postponed to July 25 may be one of the last opportunities for the process to conclude before the end of summer, and it wouldn’t be surprising if we receive <a href="https://newslinker.co" target="_blank" rel="noopener" data-wpel-link="exclude">good news</a> soon. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/on-chain-activity-affects-cryptocurrency-markets-negatively/" data-wpel-link="internal">On-Chain Activity Affects Cryptocurrency Markets Negatively</a></h5>

On-Chain Activity Affects Cryptocurrency Markets Negatively

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