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XRP Price Prediction for May 16
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Does XRP have enough strength for continued rise?
The price of XRP has increased by 1.13% over the last day.
On the hourly chart, the rate of XRP is still under sellers' pressure, as it is closer to the support than to the resistance level. In this case, there is still a chance to see a breakout, followed by a move to the $0.51 area.
On the bigger time frame, none of the sides is dominating after yesterday's bullish candle closure.
Respectively, ongoing sideways trading in the zone of $0.51-$0.52 is the more likely scenario until the end of the week.
On the weekly chart, the picture is quite similar. If the bar closes around the current prices, traders may witness a consolidation between $0.50 and $0.54 by the end of May. XRP is trading at $0.5190 at press time.
#XRP #Ripple #Senate #BitcoinETF #SEC $XRP $BTC $ETH
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Does XRP have enough strength for continued rise?
The price of XRP has increased by 1.13% over the last day.
On the hourly chart, the rate of XRP is still under sellers' pressure, as it is closer to the support than to the resistance level. In this case, there is still a chance to see a breakout, followed by a move to the $0.51 area.
On the bigger time frame, none of the sides is dominating after yesterday's bullish candle closure.
Respectively, ongoing sideways trading in the zone of $0.51-$0.52 is the more likely scenario until the end of the week.
On the weekly chart, the picture is quite similar. If the bar closes around the current prices, traders may witness a consolidation between $0.50 and $0.54 by the end of May. XRP is trading at $0.5190 at press time.
#XRP #Ripple #Senate #BitcoinETF #SEC $XRP $BTC $ETH
Senate Passes Crypto Bill Allowing Banks to Hold Bitcoin; Despite Warren’s Concerns
Senate votes to repeal anti-crypto rule SAB121, passing bill for Bitcoin custody by financial firms. U.S. Senator Elizabeth Warren opposes, citing safety concerns over digital assets held by banks.
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Senator Elizabeth Warren urges the Senate to reject a bill allowing financial firms to custody Bitcoin, citing safety concerns. Senator Cynthia Lummis supports the bill, emphasizing the security offered by regulated financial institutions. Despite Warren’s opposition, the Senate voted 51-49 to repeal Gensler’s anti-crypto rule SAB121.
Senator Warren’s Concerns on Digital Assets
Senator Elizabeth Warren has been a vocal critic of digital assets, often linking them to terrorism and misconduct. Last month, she penned a letter expressing worries about stablecoins and their potential exploitation by terrorist organizations and rogue nations. Warren believes that entrusting digital assets to financial institutions could pose substantial risks to their safety and security due to the lack of robust regulatory frameworks.
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Warren’s stance underscores her belief that digital assets, while innovative, necessitate stringent oversight to curb illicit activities. Her call for a “NO” vote on the legislation reflects broader skepticism towards cryptocurrencies and their integration into the mainstream financial sector. She argues that without adequate safeguards, the financial system could face heightened vulnerabilities, potentially leading to significant instability.
Debate Over Crypto Legislation and Presidential Decision
Senator Elizabeth Warren’s opposition to digital assets has encountered staunch resistance. Senator Cynthia Lummis advocated for a “YES” vote on legislation allowing regulated financial firms to custody digital assets, asserting their capability to safeguard investors effectively.
In contrast, pro-crypto advocate John Deaton criticized Warren’s focus on digital asset regulation, arguing that Massachusetts faces more pressing issues such as illegal immigration and income inequality.
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Despite Warren’s advocacy, the Senate voted 51-49 to repeal Gensler’s anti-crypto rule SAB121, with key Democratic senators crossing party lines to support the repeal. Now, President Biden must decide whether to veto the legislation or permit its passage.
The president’s decision carries significant political implications. A veto could align him with anti-crypto sentiments, potentially alienating pro-crypto voters and industry stakeholders. Conversely, allowing the legislation to pass would signify a step towards modernizing the financial system and embracing technological innovation. This decision is crucial as it may sway voter sentiment in the upcoming election, marking a pivotal moment for the Biden administration.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #Ethereum #Senate #BitcoinETF #SEC $BTC $ETH $BNB
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Senator Elizabeth Warren urges the Senate to reject a bill allowing financial firms to custody Bitcoin, citing safety concerns. Senator Cynthia Lummis supports the bill, emphasizing the security offered by regulated financial institutions. Despite Warren’s opposition, the Senate voted 51-49 to repeal Gensler’s anti-crypto rule SAB121.
Senator Warren’s Concerns on Digital Assets
Senator Elizabeth Warren has been a vocal critic of digital assets, often linking them to terrorism and misconduct. Last month, she penned a letter expressing worries about stablecoins and their potential exploitation by terrorist organizations and rogue nations. Warren believes that entrusting digital assets to financial institutions could pose substantial risks to their safety and security due to the lack of robust regulatory frameworks.
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Warren’s stance underscores her belief that digital assets, while innovative, necessitate stringent oversight to curb illicit activities. Her call for a “NO” vote on the legislation reflects broader skepticism towards cryptocurrencies and their integration into the mainstream financial sector. She argues that without adequate safeguards, the financial system could face heightened vulnerabilities, potentially leading to significant instability.
Debate Over Crypto Legislation and Presidential Decision
Senator Elizabeth Warren’s opposition to digital assets has encountered staunch resistance. Senator Cynthia Lummis advocated for a “YES” vote on legislation allowing regulated financial firms to custody digital assets, asserting their capability to safeguard investors effectively.
In contrast, pro-crypto advocate John Deaton criticized Warren’s focus on digital asset regulation, arguing that Massachusetts faces more pressing issues such as illegal immigration and income inequality.
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Despite Warren’s advocacy, the Senate voted 51-49 to repeal Gensler’s anti-crypto rule SAB121, with key Democratic senators crossing party lines to support the repeal. Now, President Biden must decide whether to veto the legislation or permit its passage.
The president’s decision carries significant political implications. A veto could align him with anti-crypto sentiments, potentially alienating pro-crypto voters and industry stakeholders. Conversely, allowing the legislation to pass would signify a step towards modernizing the financial system and embracing technological innovation. This decision is crucial as it may sway voter sentiment in the upcoming election, marking a pivotal moment for the Biden administration.
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Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#Bitcoin #Ethereum #Senate #BitcoinETF #SEC $BTC $ETH $BNB
3 Cryptocurrencies To Buy With Today’s Market Recovery
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From thousands of options, what cryptocurrencies to buy today? Let's have a look at the three perfect assets to include in your portfolio as the crypto market recovers.
3 Perfect Cryptocurrencies To Buy Today
There’s much more than buying the right cryptocurrency as it requires the analysis of the price, its history, unique features it offers, community support, and the time of buying. With all these complexities, the three best cryptocurrencies to buy should be Ethena, Litecoin, and PEPE. Let’s have a look at them one by one.
1.Ethena
2.Litecoin
3.PEPE
#ENA #LTC #PEPE #Senate #BitcoinETF $ENA $LTC $PEPE
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From thousands of options, what cryptocurrencies to buy today? Let's have a look at the three perfect assets to include in your portfolio as the crypto market recovers.
3 Perfect Cryptocurrencies To Buy Today
There’s much more than buying the right cryptocurrency as it requires the analysis of the price, its history, unique features it offers, community support, and the time of buying. With all these complexities, the three best cryptocurrencies to buy should be Ethena, Litecoin, and PEPE. Let’s have a look at them one by one.
1.Ethena
2.Litecoin
3.PEPE
#ENA #LTC #PEPE #Senate #BitcoinETF $ENA $LTC $PEPE
Top Analyst Warns: Avoid These 4 Altcoins at All Costs!
As the altcoin market value exceeds $276 billion, driven by Bitcoin’s surge above $66,000, investors are eyeing altcoins for gains. Crypto analyst CryptoBulle warns against blindly investing in all altcoins despite the bullish trend, noting the market’s susceptibility to corrections.
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CryptoBulle advises caution with altcoins between Fibonacci levels 0.382 and 0.236. Filecoin’s daily chart shows significant volatility, dropping 30% in the past week. Cardano faces a bearish trend, with ADA trading at $0.48, down 25% in five months.
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CryptoBulle’s Warning on Altcoins
CryptoBulle suggests that altcoins still between the 0.382 and 0.236 Fibonacci levels are unlikely to break their 2021 all-time highs.
“Draw the Fibs from top to bottom. The ones still between 0.382-0.236 likely won’t make it above their 2021 highs,” CryptoBulle tweeted, highlighting weak coins in this category.
Altcoins to Watch: Potential Struggles Ahead
Polkadot ($DOT): Despite its robust ecosystem and innovative technology, Polkadot’s current Fibonacci levels suggest it may struggle to reach its previous all-time high.
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Filecoin (FIL): Offering a decentralized storage solution, Filecoin’s market shows significant volatility on the daily chart. It has emerged as one of the biggest losers in the market, having dropped 30% in the past week.
Axie Infinity (AXS): Known for its play-to-earn model, Axie Infinity has experienced substantial growth. However, its current position suggests potential challenges in reaching new highs. AXS is currently trading at $7.3 with a market cap of $1 billion.
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Cardano (ADA): A popular Proof-of-Stake blockchain, Cardano has recently been facing a bearish trend. As of early May 2024, ADA’s price hovered around $0.48, reflecting a 25% decline over the past five months. Analysts suggest that ADA might either break down further or continue moving sideways.
Altcoins at Risk and Potential Investment Opportunities
At-Risk Altcoins: These altcoins are at risk of further price drops and may not offer a profitable entry point for investors at this time. CryptoBulle’s analysis underscores the importance of strategic investment decisions based on technical indicators like Fibonacci retracement levels.
Also Read: Robinhood Introduces Solana Staking and Rewards in Europe
Promising Altcoins: On the flip side, CryptoBulle has identified four top altcoins that should be included in your investment portfolio. These altcoins have the potential to break their all-time highs in the upcoming altcoin season.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Bitcoin #Ethereum #Senate #BitcoinETF #SEC $BTC $ETH $SOL
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CryptoBulle advises caution with altcoins between Fibonacci levels 0.382 and 0.236. Filecoin’s daily chart shows significant volatility, dropping 30% in the past week. Cardano faces a bearish trend, with ADA trading at $0.48, down 25% in five months.
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CryptoBulle’s Warning on Altcoins
CryptoBulle suggests that altcoins still between the 0.382 and 0.236 Fibonacci levels are unlikely to break their 2021 all-time highs.
“Draw the Fibs from top to bottom. The ones still between 0.382-0.236 likely won’t make it above their 2021 highs,” CryptoBulle tweeted, highlighting weak coins in this category.
Altcoins to Watch: Potential Struggles Ahead
Polkadot ($DOT): Despite its robust ecosystem and innovative technology, Polkadot’s current Fibonacci levels suggest it may struggle to reach its previous all-time high.
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Filecoin (FIL): Offering a decentralized storage solution, Filecoin’s market shows significant volatility on the daily chart. It has emerged as one of the biggest losers in the market, having dropped 30% in the past week.
Axie Infinity (AXS): Known for its play-to-earn model, Axie Infinity has experienced substantial growth. However, its current position suggests potential challenges in reaching new highs. AXS is currently trading at $7.3 with a market cap of $1 billion.
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Cardano (ADA): A popular Proof-of-Stake blockchain, Cardano has recently been facing a bearish trend. As of early May 2024, ADA’s price hovered around $0.48, reflecting a 25% decline over the past five months. Analysts suggest that ADA might either break down further or continue moving sideways.
Altcoins at Risk and Potential Investment Opportunities
At-Risk Altcoins: These altcoins are at risk of further price drops and may not offer a profitable entry point for investors at this time. CryptoBulle’s analysis underscores the importance of strategic investment decisions based on technical indicators like Fibonacci retracement levels.
Also Read: Robinhood Introduces Solana Staking and Rewards in Europe
Promising Altcoins: On the flip side, CryptoBulle has identified four top altcoins that should be included in your investment portfolio. These altcoins have the potential to break their all-time highs in the upcoming altcoin season.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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#Bitcoin #Ethereum #Senate #BitcoinETF #SEC $BTC $ETH $SOL
