XRP is trading near a crucial support level at $2.12, down 4% in the past 24 hours, as widespread market turmoil weighs on sentiment and price momentum. XRP’s (XRP) 24-hour volume rose nearly 80% to $2.97 billion, which can be…

XRP drops toward critical $2 resistance — will these short-term catalysts trigger a bounce?

Grayhoood, a crypto trader, said on X that Litecoin is currently experiencing 
a bearish trend, emphasizing the ongoing weakness in price action. Over the 
past 24 hours, LTC has decreased by 2.8%, and the candlestick charts reflect a 
noticeable downward movement. As shown in the chart he referenced, LTC started 
the day around $89.00 but faced a sharp decline, dropping to $87.00 before 
managing a brief recovery to $88.50. However, the price has since fallen again 
to $84, indicating sustained selling pressure in the short term. Momentum 
Fades: RSI Drifts Toward Oversold Territory According to Grayhoood, current 
technical indicators suggest that Litecoin may face further downside, with 
multiple metrics aligning to support a bearish short-term outlook. One of the 
primary indicators in focus is the Relative Strength Index (RSI), which 
appears to be drifting toward oversold territory. Related Reading: Indecisive 
Close For Litecoin, But The Real Story Lies In BTC.D’s Next Move While such a 
move could hint at a potential bounce, Grayhoood cautions that it also signals 
bearish sentiment in the market. Beyond the RSI, momentum oscillators such as 
the Stochastic indicator and the Commodity Channel Index (CCI) are also 
painting a gloomy picture. These tools are typically used to gauge market 
reversals and the strength of ongoing trends. In this case, both are tilting 
toward further downward momentum if no strong bullish catalyst appears, 
especially as prices struggle to hold above the $87 support level. Short-Term 
Declines Contrast with Yearly Gains in LTC’s Moving Averages The analyst 
further highlighted a mixed outlook from Litecoin’s moving averages, 
suggesting a market caught between short-term weakness and long-term 
potential. In the near term, shorter-duration averages are flashing strong 
sell signals. These are driven by LTC’s recent negative performance, with a 
-9.0% drop over the past week and a -12.5% decline over the last two weeks, 
painting a clear picture of growing bearish momentum and sustained selling 
pressure. Related Reading: Market Expert Projects ‘Undervalued’ Litecoin To 
Soar At Least 1,000% — Here’s How However, the longer-term moving averages 
tell a different story. Despite recent setbacks, Litecoin has posted a 2.3% 
gain over the past year, which keeps the long-term trend technically bullish. 
This divergence suggests that while short-term traders may be responding to 
immediate price volatility and weakness, long-term investors could still see 
value in the asset, especially if broader market conditions stabilize or 
improve. That said, the broader market sentiment currently leans bearish, 
weighed down by Litecoin’s inability to maintain key support levels amid 
recent price volatility. Even with long-term growth providing a degree of 
optimism, the prevailing trend is defined by downward pressure and 
uncertainty. Until short-term indicators begin to align with the long-term 
bullish structure, Litecoin may continue to face a challenging environment. 
Featured image from Adobe Stock, chart from Tradingview.com

Litecoin Wobbles Under Pressure: Can It Find Footing Below $87?

The native token of IOST, a multi-chain ecosystem focused on real-world asset 
infrastructure, rose sharply after the project announced a $21 million raise 
from several top crypto venture capital firms. IOST (IOST), which aims to 
bridge traditional finance decentralized finance…

IOST price surges amid $21m raise to accelerate RWA growth

The market capitalization for stablecoins has risen 90% since Jan. 4, 2024, 
making stablecoins arguably crypto’s first mainstream use case.

Big Techs consider adopting stablecoins as GENIUS Act debate continues

The shift from a &#8220;first-to-file&#8221; to simultaneous approval for crypto ETFs may 
hinder innovation and favor larger firms, impacting market fairness.
The post VanEck, 21Shares, and Canary urge SEC to revert to &#8216;first to file, 
first to approve&#8217; standard for crypto ETFs appeared first on Crypto Briefing.

VanEck, 21Shares, and Canary urge SEC to revert to ‘first to file, first to approve’ standard for crypto ETFs

The U.K. Financial Conduct Authority has proposed lifting a ban on offering 
crypto exchange-traded notes to retail traders. Normal Financial Promotion 
Rules to Apply The U.K. financial watchdog, the Financial Conduct Authority 
(FCA), has proposed lifting a ban on offering crypto exchange-traded notes 
(ETNs) to retail traders. If adopted, the proposal would allow pave the […]