XRP Bulls Will Target $0.55 in Hopes of a Ripple Victory against the SEC

Audy Castañeda
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<strong>XRP Bulls Will Target $0.55 in Hopes of a Ripple Victory against the SEC</strong>

On Tuesday, XRP rose 25.25%, to end the day at $0.46841. Market reaction to the latest filing in the ongoing case SEC vs. Ripple facilitated the work session. Technical indicators remained bullish, signaling a return to $0.50.

On Tuesday, XRP rose 25.25%. Reversing a 3.26% loss on Monday, XRP ended the day at $0.46841. The breakout session saw XRP test resistance at $0.50 for the first time since November 2022.

A mixed start to the day saw XRP fall to as low as $0.37325 in the first hour, before making a move. Pulling away from the first major support level (S1) at $0.3666, XRP rallied to a late high of $0.49265. XRP broke above major resistance levels, to test resistance at $0.50 before pulling back, to end the day at $0.46841.

Presentation of Ripple in the Case SEC vs. Ripple Boosted Optimism of a Ripple Victory

Updates to the ongoing SEC vs. Ripple hosted a special session on Tuesday. As investors await rulings on the Hinman Documents and Summary Judgment Response Briefs, the Ripple Defendants have filed a new submission in support of their fair notice defense.

According to the latest filing, the SEC opposed Voyager’s plans to sell its assets, including VGX, to Binance.US. Furthermore, the SEC objected to the involvement of Binance.US, with the SEC stating that Binance.US is an unregistered exchange. The filing before Judge Torres noted that the basis for Judge Wiles rejecting the SEC’s objections supported many of the arguments the defendants had made in the filing.

This afternoon, all eyes will be on the Fed. Following the collapse of Silicon Valley Bank and Signature Bank (SBNY), markets are betting on a 25-basis point Fed rate hike, a post-March pause, as well as a rate cut in the middle of the year.

Assuming no surprise 50-basis point Fed rate hike, the focus should be on the FOMC projections and Fed Chairman Powell.

While the Fed’s policy decision is the main event, investors should monitor updates on the SEC vs. Ripple. However, the lack of news of the SEC vs. Ripple would let regulators and lawmakers talk about influence, along with news related to Binance and FTX.

XRP Price Action – Technical Indicators

XRP was down 1.46% to $0.46157. A mixed start to the day saw XRP rally to an early high of $0.47498, before falling to a low of $0.45903.

XRP needs to avoid the $0.4448 pivot to target the first major resistance level (R1) at $0.5163. A move through Tuesday’s high of $0.49265 would indicate a bullish session. However, the broader crypto market and the SEC vs. Ripple would need to support a breakout.

In the event of another extended rally, XRP would likely test resistance at $0.55, but would miss the second major resistance level (R2) at $0.5642. The third main resistance level (R3) sits at $0.6836.

The 50-day EMA has turned away from the 100-day EMA, and the 100-day EMA has broken out from the 200-day EMA. The EMAs delivered bullish signals.

A hold above S1 ($0.3969), and the 50-day EMA ($0.38994), would support a break of R1 ($0.5163) to the target of R2 ($0.5652). However, a drop through S1 ($0.3969) and the 50-day ($0.38994) would bring the 100-day ($0.38307) and 200-day ($0.38257) EMAs into play. A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

BTC Bulls to Target $30,000 Return on Fed Rate Hike and Projections

Audy Castañeda
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<strong>BTC Bulls to Target $30,000 Return on Fed Rate Hike and Projections</strong>

It was a bullish Tuesday, with BTC rising 1.44%, to end the day at $28,112. The containment of the banking crisis, the sentiment towards the Federal Reserve, as well as the talk between the SEC and Ripple, generated a bullish session. Technical indicators are bullish, with $30,000 still in sight.

On Tuesday, Bitcoin (BTC) rose 1.44%. Reversing a 0.82% drop since Monday, BTC ended the day at $28,112. BTC revisited the $28,000 handle for the third day in a row but failed to print a new 2023 high.

A busy morning saw BTC drop to a mid-morning low of $27,312. Moving away from the first major support level (S1) at $27,083, BTC rallied to a late afternoon high of $28,435. BTC broke above the first major resistance level (R1) at $28,392, before pulling back to end the session at $28,112.

SEC vs. Ripple Chatter and Fed Expectations Provided Support

On Tuesday, market reaction to the latest filing in the ongoing SEC v Ripple case was supportive of the crypto market in general. XRP rallied 25.25%, as investors digested Ripple’s filing to support the fair notice defense.

The defendants referenced Voyager Digital’s bankruptcy case, citing bankruptcy judge Michael Wiles’s rulings, which favored Voyager Digital.

A Ripple victory in the SEC vs. Ripple could materially alter the regulatory landscape, and quickly put an end to the anti-crypto sentiment plaguing Capitol Hill.

Investor sentiment toward the Fed also supported prices. With fears that the banking crisis will subside, markets expect the Fed to raise interest rates by 25-basis points today. Hopes for a post-March pause to assess the effects of interest rate increases on the banking system, inflation and the economy also provided support.

The NASDAQ Composite Index rose 1.58% on Tuesday, and the Dow and S&P 500 posted gains of 0.98% and 1.30%, respectively. This morning, the NASDAQ mini is down 4 points.

Bitcoin (BTC) Price Action – Technical Indicators

This morning, BTC was down 0.09% at $28,088. A bearish start to the day saw BTC fall from an opening price of $28,111, to a low of $28,088.

BTC needs to avoid the $27,953 pivot, to target the first major resistance level (R1) at $28,594, and Tuesday’s high of $28,435. A move through Tuesday’s high of $28.435 would indicate an extended bullish session. Crypto news wires and the Federal Reserve should go crypto-friendly to support a prolonged rally.

In the event of a prolonged rally, BTC would likely test the second major resistance level (R2) at $29,076, and resistance at $30,000. The third major resistance level (R3) sits at $30,199.

The 50-day EMA has broken further away from the 100-day EMA, with the 100-day EMA pulling away from the 200-day EMA, sending bullish signals.

A hold above the major support levels and the 50-day EMA ($26,363) would support a break from R1 ($28,594) to target R2 ($29,076) and $30,000. However, a drop through S1 ($27,471) would bring into view S2 ($26,830) and the 50-day EMA ($26,363). A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

Bitcoin Year-End 2023 Forecast

Audy Castañeda
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<strong>Bitcoin Year-End 2023 Forecast</strong>

After falling below the $20,000 mark as a result of the US banking crisis, the price of BTC rose massively in the following days.

The Bitcoin price has risen tremendously in recent weeks. The price has been seen going from under $20,000 to over $28,000 in the last 2 weeks. This raises the question of whether the price of Bitcoin could increase twice as much again by the end of 2023.

In the last few weeks, the price of Bitcoin has increased tremendously. After falling below the $20,000 mark as a result of the US banking crisis, the price of BTC rose massively in the following days. The price was able to climb back above the $22,000 mark relatively quickly.

After rising to $24,000, Bitcoin was able to break the $25,000 mark again for the first time and trigger resistance at this mark. After falling to $24,500, Bitcoin rallied back to $26,000 a bit later, and sustainably broke the resistance.

In the past few days, it has broken through the $28,000 mark, and the price of Bitcoin has recently held in this area. The Bitcoin forecast is therefore very positive for the next few weeks.

What is the Bitcoin Forecast for the End of 2023?

Due to the banking crisis, Bitcoin experienced a massive increase in value, as more and more investors view BTC as a store of value, and no longer trust banks to take care of their money. Bitcoin has a fixed number, and cannot be censored. Investors remain in full control of their money.

The year 2023 could be a year in which more and more people know about the problems of the FIAT system, and thus trust Bitcoin. Therefore, the Bitcoin forecast for the next few months looks very positive. The Bitcoin price should be able to go even higher by the end of the year.

How High Could the Price of Bitcoin Rise by the End of the Year?

The price of Bitcoin increased from $15,500 to $28,000 in the first quarter of 2023. This means that in the first 3 months of 2023, the price has already seen an increase of almost 90%.

2019 demonstrated that the second year after the start of the bear market may see stronger bullish phases. With the banking collapse in 2023, an event could have occurred that will improve Bitcoin’s forecast again this year.

In 2019, Bitcoin tripled from the beginning of the year to the third quarter. However, the price of Bitcoin fell more sharply in the second half of the year. This may not be the case this time, and the price of Bitcoin could also rise massively in the second half of 2023. A quadrupling from early 2023 seems possible.

Therefore, a Bitcoin forecast of $45,000 to $62,000 is assumed, at the end of 2023.

By Audy Castaneda

Ethereum Price to $2,000 in the Next Days?

Audy Castañeda
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<strong>Ethereum Price to $2,000 in the Next Days?</strong>

The Ethereum rate has not risen as much as Bitcoin in the last few days. The Ether token, though, has also experienced a strong increase in the last 2 weeks.

The Ethereum course has experienced a stronger rise in recent days. The price fell to $1,400 during the US banking crisis. After that, however, the price rose sharply, and it was recently even able to reach the $1,800 mark again.

The percentage increase in Ethereum was not as massive as the increase in the price of Bitcoin. However, among altcoins, Ethereum was able to perform extremely well. More recently, the price has dipped slightly again, and it is currently around $1,750.

What Is Making the Ethereum Price So High Right Now?

The increase in the price of Bitcoin in recent days is mainly explained by the uncertainty in the FIAT system. People want to hedge their money in Bitcoin. This aspect may also play a role in Ethereum, as some investors also believe in Ethereum’s stability in crises.

However, one factor could also be the increased likelihood that the US Federal Reserve will refrain from raising interest rates further in the coming days. This could be a sign of a return to easy money to support banks. Ethereum could also benefit from this.

Additionally, the Shapella update is a new update for Ethereum. This has already been activated on the testnet. This update aims to make it possible for staking tokens that have been locked to be released again.

The Shanghai update is almost complete, and it is scheduled to go live on April 12, 2023. This update will allow the withdrawal of ETH staked on the Beacon chain. The lead developers approved the deadline with epoch 620, 9536 in an execution layer meeting, and lead developer Tim Beiko confirmed the release via his tweet.

In addition to allowing withdrawals from the Beacon chain, the Shanghai update includes five other improvements. In December 2020, validators were required to stake 32 ETH on the ETH 2.0 smart contract to activate the Beacon chain. Since then, validators have continued to bet, and the smart contract now holds over 17.6 million ETH, valued at nearly $30 billion. This has raised concerns about a sell-off.

After the successful Merger of the Beacon chain with Mainnet, the network’s roadmap includes Surge, Verge, Purge, and Splurge. The developers have done extensive testing to ensure that ETH withdrawals staked since the merger work properly. All tests were implemented on Ethereum testnets to ensure smooth operation, with the latest one, Goerli, experiencing a low participation rate.

Will We See $2,000 Again Soon?

Due to the increases of the last few weeks, the Ethereum price has again approached the $2,000 mark. Ethereum was last able to reach this value again in August 2022. At that time, there was some hype about the Ethereum merger.

If the market’s uptrend continues, we could see a rally to $2,000 in the next few days. The upcoming meeting of the US Federal Reserve on Wednesday could already shed some light.

By Audy Castaneda

XRP Bulls Eye a return to $0.40 in SEC vs. Ripple Fair Notice Defense

Audy Castañeda
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<strong>XRP Bulls Eye a return to $0.40 in SEC vs. Ripple Fair Notice Defense</strong>

On Monday, XRP fell 3.26%, to end the day at $0.37399. XRP and the broader crypto market succumbed to profit-taking, as investors responded to ease risks from the banking sector. However, technical indicators remained bullish, indicating a return to $0.42.

On Monday, XRP fell 3.26%. Reversing a 3.24% gain on Sunday, XRP ended the day at $0.37399. Despite the bearish session, XRP avoided sub-$0.37 for the third day in a row.

A mixed start to the day saw XRP rally to an early high of $0.39206, before pulling back. Missing the first major resistance level (R1) at $0.4005, XRP slid to a low of $0.37200 in the early afternoon. XRP briefly fell through the first major support level (S1) at $0.3733, before ending the day at $0.37399.

XRP Tracks BTC in the Red but Finds Morning Support

It was a busier Sunday, with updates on the ongoing SEC vs. Ripple case drawing investor interest. As investors await rulings on the Hinman Documents and Summary Judgment Response Briefs, the Ripple Defendants have introduced a new filing in support of their fair notice defense.

According to the filing, the SEC objected to Voyager’s plan to sell its assets, including VGX, to Binance.US, which the SEC also objected to, stating that Binance.US is an unregistered exchange. The letter to Judge Torres noted that the basis for Judge Wiles rejecting the SEC’s objections supported many of the arguments the defendants had made in the filing.

While the filing had a limited impact on XRP, the argument presents Judge Torres with an additional reason to lean in favor of the defendants.

Central bank comments will likely be an area of ​​focus today. Following UBS’s acquisition of Credit Suisse Group, central bankers will be in the spotlight ahead of the Fed’s monetary policy decision.

However, investors should continue to monitor the crypto news wires. Talk from regulators and legislators will weigh in, along with updates from Binance and FTX. However, the rulings in the ongoing SEC vs. Ripple case would have more influence on investor sentiment.

XRP Price Action – Technical Indicators

XRP rose 2.37% to $0.38284. A mixed start to the day saw XRP fall to an initial low of $0.37325, before rising to a high of $0.38400.

XRP needs to avoid the $0.3794 pivot to target the first major resistance level (R1) at $0.3867 and Monday’s high of $0.39206. A return to $0.39 would signal a bullish session. However, the broader crypto market and SEC vs. Ripple talk would need to support a breakout.

In the event of a prolonged rally, XRP would likely test the second major resistance level (R2) at $0.3994, and resistance at $0.40. The third main resistance level (R3) sits at $0.4195.

The 50-day EMA reached down towards the 200-day EMA, and the 100-day EMA turned down to the 200-day EMA. The EMAs delivered bullish signals.

A hold above the 200-day EMA ($0.37865) would support a break from R1 ($0.3867) to the target of R2 ($0.3994) and $0.40. However, a drop through the 200-day ($0.37865) would bring the 50-day ($0.37710) and 100-day EMAs ($0.37629) and S1 ($0.3666) into play. A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

BTC Target Remains $30,000 on Reduced Bank Risks and Federal Reserve Bets

Audy Castañeda
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0
<strong>BTC Target Remains $30,000 on Reduced Bank Risks and Federal Reserve Bets</strong>

It was a bearish Monday, with BTC tumbling 0.82%, to end the day at $27,714. Easing investor fears of a global banking crisis left BTC on the back foot, with investors securing solid gains. However, technical indicators are bullish, with $30,000 still in sight.

On Monday, Bitcoin (BTC) fell 0.82%. Partially reversing a 3.82% gain from the previous week, BTC ended the day at $27,714. Despite the bearish session, BTC revisited the $28,000 level and made a new high in 2023.

A busy morning saw BTC drop to a mid-morning low of $27,130. Moving away from the first major support level (S1) at $27,073, BTC rallied to a late-morning high of $28,439. However, failing to reach the first major resistance level (R1) at $28,577, BTC revised below $27,500 before ending the session at $27,714.

Investors Return to Higher-Risk Assets to Leave BTC in the Red

On Monday, the European and US stock markets brushed aside a bearish session in the Asian market. Investors have responded to the news that UBS AG (UBS) has agreed to acquire Credit Suisse Group (CS) to avoid a banking catastrophe.

A change in sentiment toward the Fed’s monetary policy provided further support. Following the collapse of Silicon Valley Bank and Signature Bank (SBNY), the broader market expects the Fed to hike rates by 25 basis points and signal a post-March pause.

Some speculated that the Fed could leave rates on hold tomorrow. However, BTC reversed gains late in the session, with investors locking in gains ahead of the Fed’s interest rate decision on Wednesday.

The NASDAQ Composite Index rose 0.39% on Monday, and the Dow and S&P 500 posted gains of 1.20% and 0.89%, respectively. This morning, the NASDAQ mini is down 8.25 points.

There are no US economic indicators to move the dial, with US real estate in the spotlight this afternoon. However, investors should continue to monitor the crypto news wires. Binance and FTX news and updates on the ongoing SEC vs. Ripple will attract interest. While regulators and legislators continue to be distracted by problems in the banking sector, regulatory activity also needs consideration.

Bitcoin (BTC) Price Action – Technical Indicators

This morning, BTC was up 0.34% at $27,809. A mixed start to the day saw BTC fall to an initial low of $27,675, before rising to a high of $27,934.

BTC needs to avoid the $27,761 pivot to target the first major resistance level (R1) at $28,392 and Monday’s high of $28,439. A return to $28,000 would indicate a prolonged bullish session. Crypto news wires need to be crypto-friendly to support a prolonged rally.

In the event of a prolonged rally, BTC would likely test the second major resistance level (R2) at $29,070, and resistance at $30,000. The third major resistance level (R3) sits at $30,379.

The 50-day EMA has broken further away from the 100-day EMA, with the 100-day EMA pulling away from the 200-day EMA sending bullish signals.

A hold above the major support levels and the 50-day EMA ($25,921) would support a break from R1 ($28,392) to the R2 ($29,070) target and $30,000. However, a drop-through S1 ($27,083) would bring into view S2 ($26,452) and the 50-day EMA ($25,921). A drop through the 50-day EMA would send a bearish signal.

By Audy Castaneda

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