• Bitcoin price is consolidating around $23,000 and is expected to pull a massive leg up beyond $24,000 soon.
• Ethereum price has slipped below $1600, potentially indicating a revival of the bearish trend.
• XRP price continues to demonstrate immense strength, sticking to the crucial levels at $0.41 for more than a week.
The cryptocurrency market has seen a turbulent yet optimistic past couple of weeks. Bitcoin (BTC) has been consolidating heavily along $23,000 for an extended period, enabling the bulls to accumulate more gains to pull a massive leg up beyond $24,000 soon. The Relative Strength Index (RSI) is displaying a bearish divergence while the Moving Average Convergence Divergence (MACD) is about to flash a bearish crossover. As such, the BTC price is expected to face a minor rejection during the weekend that may trigger a bullish close for the month ahead. However, the upcoming weekend may turn the tables for the BTC price and either of the targets may be achieved.
Ethereum (ETH) price has also been going through a tough time lately. After a short stint above $1800, the ETH price again slipped below $1600, which could indicate the revival of the bearish trend which also appears to be a stretched consolidation phase. The MACD is slowly moving towards a bearish crossover while the RSI is hovering around the midline. As such, the ETH price may face a minor rejection during the weekend, but if the bulls manage to hold the support at $1500, the price could surge beyond $1700 in the upcoming week.
On the other hand, the XRP price continues to demonstrate immense strength as it sticks to the crucial levels at $0.41 for more than a week. The RSI and MACD are both in the bullish zone and the XRP price is likely to break out of the $0.45 resistance and surge towards $0.50 in the upcoming weeks. However, the bulls need to hold the support at $0.40 to prevent any major pullbacks.
Overall, the crypto market is currently in a volatile yet optimistic state. As such, traders need to be careful while making their investments and be sure to do proper research before entering the market. The upcoming weeks could prove to be an important period for the crypto market and could be an ideal time to make substantial profits.
• Bitcoin price surpassed $22K resistance level in just 24hrs
• Top analyst predicts Bitcoin’s short squeeze in the coming days
• Crypto analyst, Crypto Kaleo targets for BTC’s next bull run to hit $30K
The world of digital currency has seen a major surge in the past 24 hours, with the price of Bitcoin breaking the $22,000 resistance level in just a day! This monumental feat has caused other currencies like Ethereum, Cardano, XRP, and Solana to skyrocket, and the global crypto market cap has gained its $1 trillion mark again.
At the time of writing, Bitcoin is trading at around $22,723 with an 8.47% increase over the last 24 hours. This remarkable growth has caught the eye of industry experts, who are now predicting a major bull run in the near future.
One such expert is crypto analyst, Crypto Kaleo, who took to Twitter to share his insight with over 550,000 followers. He believes that Bitcoin is all set to make its way to the next major resistance level of $30,000, which was last seen in June 2022. Kaleo also warns that before Bitcoin reaches this target, there will be some pullbacks, and the currency may even dip below the $20,000 mark.
The coming days are sure to be filled with surprises and excitement, as the digital currency market continues to expand. With a top analyst predicting a short squeeze in the near future, investors and enthusiasts alike are keeping a close eye on Bitcoin. If Crypto Kaleo’s predictions come true, then it is likely that Bitcoin will hit the $30,000 mark in no time.
• XRP price is currently at $0.388977 and has seen a 3.2% increase over the last 24 hours and a 12.6% increase over the last 7 days.
• Traders are focusing their attention on the XRP price as a result of the bulls‘ achievement of a dramatic trend shift on smaller timescales.
• XRP Price Prediction suggests that the price has the potential to reach the resistance level of $0.3780 if the correction continues to the center of the channel before the conclusion of the trading day.
The cryptocurrency market is currently experiencing a period of growth, with a majority of the leading cryptocurrencies seeing gains. This has created an opportunity for traders to take advantage of short-term trading ideas, with one of the main focal points being the XRP Price.
On January 11, the digital remittance token experienced a dramatic trend shift on smaller timescales, showing that the bulls were able to penetrate multiple resistance levels in the span of only one day. This upward trend has continued, with the price of XRP currently sitting at $0.388977. This marks a 3.2% increase over the last 24 hours and a 12.6% increase over the last 7 days. The token’s trading volume has also seen a 57% increase over the last 24 hours.
The price of XRP has seen a slight rebound after hitting the support level of $0.37, however the volume has been declining. This suggests that traders have the potential to see the rate near the resistance level the next day, if the correction continues to the center of the channel before the conclusion of the trading day. XRP Price Prediction suggests that the price has the potential to reach the resistance level of $0.3780.
Despite this, it is important to note that the price of XRP has been difficult to predict in the past, so traders should exercise caution when attempting to make any trading decisions. Nonetheless, the current trend suggests that XRP could be gearing up for a massive rally in the weeks to come.
• The Bank of France has proposed that France compel crypto companies to obtain a full license to operate in the country.
• The current proposal would require companies to apply for a full license from the financial authority beginning in October, in order to comply with EU regulations.
• Francois Villeroy de Galhau, Governor of the Bank of France, has suggested stronger regulatory standards for crypto businesses, citing recent volatility in the market.
The Bank of France has announced that it is now mandatory for crypto firms to obtain a full license in order to operate in the country. The proposal is being put forward in order to harmonize the country’s legislation with incoming EU regulations and to prevent any similar incidents to the recent bankruptcy of FTX from happening.
Under the current proposal, companies would have to apply for a full license from the financial authority beginning in October. This would bring them into compliance with the EU’s Markets in Crypto Assets (MiCA) regulation, which the European Parliament is expected to vote on in 2023. This comes as part of a greater trend of increased regulation in the cryptocurrency space, as authorities seek to protect investors and consumers from potential risks.
The Bank of France’s Governor, Francois Villeroy de Galhau, has been one of the strongest advocates of increased regulation. He has suggested that stronger regulatory standards need to be imposed on Digital Asset Service Providers (DASPs) without waiting for European regulations to take effect. Villeroy has cited recent volatility in the market as a major reason why tougher regulations are necessary, in order to protect consumers from any potential risks.
The French government is now taking a serious look at the potential risks and rewards of allowing crypto companies to operate within the country. It is clear that the authorities are keen to ensure that strict regulations and licensing requirements are in place in order to protect the interests of investors and consumers. It remains to be seen how the EU’s MiCA regulation will impact the future of cryptocurrency regulation in France, but it is likely that the country will continue to take a proactive stance in regulating the space.
1. Ethereum developers are pushing forward the launch of the Shanghai upgrade, originally set to go live in March 2023.
2. The upgrade will enable validators to withdraw their staked ETH from ETH 2.0.
3. The current bearish pressure has caused ETH prices to drop below the crucial support level at $1250.
Ethereum is preparing for a major upgrade scheduled to go live in March 2023, dubbed the Shanghai upgrade. This upgrade will enable validators to withdraw their staked ETH from ETH 2.0, and it has the potential to significantly impact the market. As the launch date approaches, Ethereum developers are rushing to make sure this upgrade is released on time.
The Shanghai upgrade was initially set to launch in March 2023, however, the developers are now requesting more time in order to include several other features into the upgrade. During a virtual meeting broadcasted on YouTube, Tim Beiko said, “We should probably be just removing stuff at this point.” Although the exact dates have yet to be announced, the Ethereum community is eagerly awaiting further news.
Unfortunately, the recent bearish pressure on the Ethereum market has caused the ETH prices to drop below the crucial support level at $1250. Trading View analysts believed that the price was trading within a bullish flag and that an upswing towards $1280 was imminent, however, the current bearish pressure has dragged the ETH prices towards the immediate support at $1240. While a bounce at these levels may be expected, the market is still highly volatile and unpredictable.
The Shanghai upgrade is a very important development for the Ethereum network and the community is hopeful that it will be completed without any delays. Although the ETH prices have taken a slight dip, the long-term outlook is still positive. With the right strategies and tools, investors can benefit from the potential price surge when the Shanghai upgrade is released.