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More gains for XRP price appear likely due to a classic bullish continuation pattern alongside strong whale accumulation. XRP (XRP) has risen by an impressive 60% in the first quarter of 2023, helped by rising speculation over Ripple’s potential legal win versus the U.S. Securities and Exchange Commission and broader bullish sentiment in the cryptocurrency market. The XRP/USD pair now eyes more gains in the second quarter, primarily due to a classic bullish continuation pattern. XRP price paints bull pennant In late March, XRP broke above its multimonth ascending trendline resistance, averting a potential 35% correction. The rebound reached $0.58 on March 29, its highest level since May 2022. Now, XRP has been consolidating sideways in what appears to be a bull pennant. This bullish continuation pattern forms when the price consolidates inside a symmetrical triangle after undergoing a strong rally. A bull pennant resolves after the price breaks above its upper trendline while accompa...

SOL price rallied to a year-to-date high above $30, but Solana’s struggle with increasing its user stats call the current bullish momentum into question. Solana (SOL) price briefly surged to a new year-to-date peak on June 14 after Ripple’s partial win against the U.S. Securities Exchange and Commission in the case contesting XRP’s position as a security.  The token recorded gains of 48.09%, reaching a peak of $32.40 as news of the court ruling spread, before retracing below the $30.00 level. The positive gains following the verdict not only eliminated the losses from June 2023 when the SEC considered SOL a security in its lawsuit against Binance and Coinbase, but also reclaimed levels not seen since the FTX collapse in November 2022. However, the network's usage and market charts suggest that a long-term bullish price trend is unlikely, with the $30 level forming a crucial resistance level. Solana ecosystem growth stalls The total fees paid on Solana are still ranging below Q3 ...

A vulnerability in the Vyper programming language widely used by DeFi protocols like Curve Finance led to exploit of multiple Curve liquidity pools on Sunday. Several Curve Finance liquidity pools were attacked on July 30 due to a vulnerability found in the programming language Vyper. Vyper is a contract programming language created for the Ethereum Virtual Machine (EVM).   Curve Finance is one of the key decentralized finance (DeFi) protocol due to the key liquidity services it offers, thus the code vulnerability has put nearly $100 million worth of digital assets at risk. The vulnerability was found in the version 0.2.15, 0.2.16 and 0.3.0 leading to a malfunctioning reentrancy lock. As a result, millions were drained from four Curve pools namely aETH/ETH, msETH/ETH, pETH/ETH and CRV/ETH. The flaw in three of its variants may have an effect on a number of other protocols. Please note that this reentrancy issue is associated with the use of 'use_eth', which could potentiall...

Several decentralized finance (DeFi) projects are undergoing significant developments to enhance their services and Features . One notable example is KuCoin, the exchange behind the KCS token, which recently announced its intention to introduce know-your-customer (KYC) measures. These measures aim to protect user data and strengthen KuCoin’s position in the market. However, investors are currently evaluating the potential impact of this implementation on KCS, leading them to consider alternative projects such as DigiToads and its token, TOADS. You might also like: DigiToads secures over $5.7 million in presale, shiba inu enters price discovery DigiToads is making its mark in the crypto industry with its play-to-earn system, non-fungible token (NFT) staking feature, and an ongoing presale. The DigiToads presale has generated significant interest among investors worldwide, with projections suggesting potential growth of up to 400% of its native token, TOADS. In this art...

A brisk slowdown in GDP fails to offer any direction for crypto markets, with Bitcoin slowly claws back lost ground below $30,000. Bitcoin (BTC) stuck to $29,000 at the April 27 Wall Street open as United States GDP growth missed expectations. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView U.S. GDP figures reveal surprise slowdown Data from Cointelegraph Markets Pro and TradingView showed BTC/USD once again stagnant after flash volatility the day prior. The largest cryptocurrency had liquidated over $300 million in long and short positions after a snap correction over claims that Mt. Gox and U.S. government bitcoins had left their wallets. A subsequent rebound rescued some of the losses, but $30,000 remained out of reach as macro data failed to offer a suitable catalyst. This came in the form of GDP growth, which at 1.1% fell far short of predictions. US economy is losing steam: The US GDP grew 1.1% in Q1 2023 ann, slower than the expected 1.9% & slower than previous ...

BTC price action heads lower on the day, but strength is still there beyond the short term, says Michaël van de Poppe. Bitcoin (BTC) faced selling pressure at the Feb. 21 Wall Street open as United States' stock markets opened down. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price skids lower with US stocks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to daily lows of $24,324 on Bitstamp. Bearish signals were already in for the pair after it saw swift rejection during its latest attempt to flip $25,000 to support. Amid suspicions over whale movements on exchanges, monitoring resource Material Indicators concluded that the 200-week moving average (MA) at $25,100 needed to become support for Bitcoin to change its long-term trend. "IMO, until we see full candles above the 200 WMA this is still distribution in a bear market rally, and with the bid wall above $24k, shorting from this level has about as much short term risk as long...

This week’s bearish regulatory actions and rumors were not strong enough to suppress investors’ appetite for cryptocurrency. The total crypto market capitalization rejected at $1.13 trillion on Feb. 16, but there was no change in the month-long ascending channel structure. More importantly, this level represents a 43% gain in 2023, which is far from the $3 trillion level achieved in Nov. 2021. Still, the current recovery is notable.  Total crypto market cap in USD, 1-day. Source: TradingView As shown above, the ascending channel initiated in mid-January has left some room for a 10% correction down to $1 trillion without breaking the bullish formation. Investors reacted positively to the 5.6% year-on-year U.S. CPI inflation increase on Feb. 14 and the 3% retail sales monthly growth on Feb. 15. Bitcoin (BTC) had the biggest positive impact on the total crypto capitalization as its price gained 12.5% on the week. One area of concern is a Feb. 16 story on Binance.US financial transaction...

The bullish market sentiment, aided by the price rebound, has also let many analysts believe that the Bitcoin price bottom is in. Bitcoin (BTC) price climbed to a four-month high above $21,000 in the third week of January, relishing trader’s hope. The market has seen the most substantial investor optimism since July due to the January BTC price rebound. According to data shared by crypto analytic firm Santiment, the trading crowd sentiment has touched its highest in six months and second highest bullish sentiment in the past 14 months. The data indicates that traders are treating Bitcoin's price rebound as a signal of a possible bigger breakout in the near future. The term "crowd/investor sentiment" describes how investors generally feel about a specific asset or financial market. It refers to the mood or tenor of a market, or the psychology of its participants, as expressed by activity and changes in the price of the asset exchanged in that market. Bitcoin weighted soc...

Bitcoin has the ability to tackle the $17,000 mark for the first time in 2023 should stocks start the year right, say traders. Bitcoin (BTC) inched closer to $17,000 on Jan. 3 as the first Wall Street open of the year loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Consensus builds for fresh attack on $17,000 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching highs of $16,766 on Bitstamp — its best performance since Dec. 27. Analysts and traders were keenly awaiting the start of Wall Street trading after European stocks posted gains the day prior and United States futures followed suit. As Cointelegraph reported, both equities and gold had looked considerably more appetizing than Bitcoin since the FTX meltdown in November. “If BTC is finally ready to join the party, I could see it run to 17.3K~ as drawn below,” popular trader Crypto Chase wrote in part of Analysis on Jan. 2. Fellow account Cold Blooded Shiller likewise posted $17,300 as a...