Bitcoin Price Analysis

Bitcoin turned down from the 50-day SMA ($61,577) on Aug. 14 but bounced off the solid support at $55,724 on Aug. 15, suggesting buying on dips.

The bulls will again try to propel the price above the 50-day SMA. If they manage to do that, it will suggest that the selling pressure is reducing. The BTC/USDT pair may then attempt a rally to $65,659 and thereafter to $70,000.
Contrary to this assumption, if the price turns down from the moving averages, it will signal that the bears are active at higher levels. The pair may then consolidate between the 50-day SMA and $55,724 for some time. The pair may tumble to $49,000 if the $55,724 support gives way
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#XRP Price Prediction: Evaluating Its Potential to Hit $1

The market’s down today—#Bitcoin is at $61K, and Ethereum, XRP, and #Solana are slipping between 4% and 7%. The global market cap dropped 4.76% to $2.19 trillion, but trading volume is up 10.72%.

Will XRP Price Hit $1?

SEC-Ripple settlement updates have influenced XRP price throughout July. Due to this speculation, XRP rose from $0.599 to $0.655 within hours, indicating investor interest. XRP’s price dynamics remain under focus despite its correction.

Experts have also projected that XRP could reach the $1 threshold. We recently identified a golden cross in XRP chart, suggesting a potential surge above $0.65 to $1.

Impact of Geo-Political factors on XRP

Notably, XRP surged from around $0.40 to above $0.60, driven by Judge Analisa Torres’ ruling that XRP is not a security and rumors of a potential SEC settlement. However, recent volatility due to the Israel-Hamas conflict and Ripple unlocking 500 million XRP from escrow caused XRP to dip below $0.55 before rebounding to $0.57. 

On-Chain Data and Investor Sentiment

On-chain data reveals growing optimism around XRP’s future. Many investors are positioning for a potential bullish run, as evidenced by an increase in shark and whale wallets holding at least 10,000 XRP each. These wallets have increased significantly over the past five weeks, now numbering around 279,400 addresses, indicating increased accumulation and confidence in XRP potential rally.

XRP’s Price Analysis

According to Crypto analyst Ali Martinez, XRP has consolidated within a symmetrical triangle pattern for the past six years. This phase began after XRP hit its all-time high of $3.40 in early 2018 and dropped to $0.11 in 2020. Since then, XRP has seen a series of lower highs and higher lows, forming a symmetrical triangle pattern. This pattern suggests that XRP’s price has been consolidated, potentially setting the stage for a significant future move.

The countdown has begun. Will XRP make it this time?

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11 Best Crypto to Buy Now in August 2024

With the #cryptocurrency markets still in an uncertain position, many crypto investors are wondering if it’s time to sell in order to secure their profits, or continue to hold, or even accumulate, to benefit from a potential price rally that could be in the store in the short to medium term.

List of the best cryptocurrency especially to invest in August 2024:

1. #Solana
2. #Bitcoin
3. Ethereum
4. Toncoin
5. #Cardano
6. Maker
7. Kaspa
8. #BNB
9. #XRP
11. Uniswap
10. Notcoin

If you are a beginner, consider sticking to cryptocurrency especially that satisfy the following criteria:

1. The coin has a significant market capitalization ($1 billion and up)

2. The coin is listed on many cryptocurrency exchanges and can easily be exchanged against fiat currencies

3. The coin has solid liquidity (at least $100 million in 24-hour trading volume)

4. The coin is already a working product and is not based on future promises

Please note that cryptocurrencies are risky investments and typically display a lot of price volatility. This is true even for established cryptocurrencies with multi-billion dollar market capitalizations. Never invest more than you are willing to lose.

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What are trading signals?

Trading signals are a set of instructions to buy or sell an asset based on analysis, usually given with a take profit target and stop loss. They typically issued by a signal provider that uses either technical or fundamental analysis (or both) to form a trade idea they pass on to you, often for a fee. These signals can be generated automatically by a piece of software set up to monitor the market for opportunities, or can be manually generated by an individual/team dedicated to scouring the markets.

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