Beijing has established its first formal process for liquidating confiscated cryptocurrencies by tapping into Hong Kong’s licensed exchanges.

From seizure to sale: Beijing taps Hong Kong to liquidate crypto

XRP is currently showing signs of vulnerability as its recent price action is 
becoming increasingly bearish. After attempting to reclaim upside momentum 
above $ 2.60 in May, the cryptocurrency has struggled to maintain this run, 
and its price action over the past few days has brought it close to losing the 
$2.10 price level. Notably, the price action has resulted in the formation of 
a head and shoulders pattern on the daily candlestick chart. This might be the 
final straw that finally sends the XRP price plummeting below $2. Related 
Reading: Bitcoin Scarcity May Spark Explosive Surge, Bank Study Shows XRP 
Breaks Head And Shoulders Neckline As identified by a crypto analyst on the 
social media platform X, XRP has now printed a classic head and shoulders 
formation, with clearly defined symmetry between the left shoulder, head, and 
right shoulder. The head and shoulders formation began taking shape in late 
April, when the price climbed to $2.26 to become the left shoulder of the 
pattern. In early to mid-May, XRP surged above $2.60 to create the head of the 
formation and what appeared at the time to be a resumption of strong bullish 
momentum. The rally lost steam soon after reaching that May peak, and the 
price began to retreat once again. By June 3, XRP made another attempt to push 
higher, reaching $2.27 in what is the formation of the right shoulder. 
However, this push wasn&#8217;t enough, and the ensuing price action has seen 
sellers gradually fighting for control. The head and shoulders pattern, which 
is often associated with trend reversals, became more concerning once XRP 
broke below the neckline around the $2.18 level to reach as low as $2.07 on 
July 6. Interestingly, the breakdown below the neckline was accompanied by 
increased volume, which provided additional confirmation of the bearish 
signal. EMA Rejections For XRP: What&#8217;s Next? Now that XRP has broken beneath 
the neckline, the $2.18 to $2.20 zone is beginning to flip into a firm 
resistance barrier for any attempt at recovery. The daily candlestick chart 
shows XRP continuing to trade below both the 9-day EMA and the 50-day SMA, 
which currently stand at $2.1877 and $2.2649 respectively. Despite a modest 
recovery over the past 24 hours, XRP has repeatedly failed to break back above 
the 9-day EMA since the neckline breakdown, showing persistent weakness in the 
short-term structure. As long as XRP is trapped beneath the neckline and the 
EMA/SMA resistance cluster, the prevailing structure continues to favor a 
downward extension. Based on the head and shoulders setup, a measured move 
from the neckline breakdown projects a decline toward the $1.85 to $1.80 
range. Related Reading: Bitcoin Network Activity Booming Despite A Quiet 
Market—Data At the time of writing, XRP now finds itself trading at the 
neckline resistance again at $2.18 after a 2.6% increase in the past 24 hours 
from $2.13. However, the strength of this bounce is questionable, as it has 
occurred alongside a sharp 48.14% drop in trading volume. The next 24 hours 
will be important, as price behavior around the $2.18 to $2.20 range could 
determine whether XRP resumes its descent and break below $2. Featured image 
from Unsplash, chart from TradingView

XRP Price Risks Plummeting Below $2 As Sellers Take Control

The NFT market has posted a modest recovery, with sales volume rising by 1.95% 
to $106.2 million. This marks a stabilization after last week&#8217;s drop. At press 
time, Bitcoin (BTC) price has surged to the $105,000 level. At the same…

NFT market makes a modest comeback as Bitcoin hits $105k level

The stablecoin sector expanded by a full percentage point this past week, 
growing by $2.558 billion in total. Of that figure, a hefty $1.45 billion came 
directly from Tether’s USDT, continuing its lead role in the space. Stablecoin 
Market Swells by $2.5B in 7 Days As of now, data from defillama.com shows the 
stablecoin market […]

Tether Fuels $2.5B Stablecoin Growth This Week

Mask Network briefly surged to $3.68 before pulling back toward $2; on-chain 
data shows a spike in whale activity, with large transactions hitting their 
highest level since May 28.

Mask Network price pumps then dumps as whales sell

Solana (SOL) is showing resilience amid broader market weakness, as volatility 
shakes crypto assets across the board. After a sharp retrace alongside Bitcoin 
and Ethereum, Solana is stabilizing above key demand levels, sparking cautious 
optimism among investors. Many are eyeing this zone as a potential launchpad 
for the next leg up, especially as the market seeks to recover and regain 
bullish momentum. Related Reading: Bitcoin Sees Largest Net Taker Volume Drop 
Of 2025 – Traders React To Trump-Elon Clash Despite recent uncertainty, 
sentiment around Solana remains constructive. Analysts point to strong 
structural support and a history of sharp rebounds from similar technical 
setups. Among them, top crypto analyst Ali Martinez recently shared a key 
signal that has caught the attention of traders: the TD Sequential indicator 
has flashed a buy signal for Solana on the daily timeframe. Historically, this 
signal has preceded notable price rallies, particularly when it aligns with 
strong support zones. With Solana holding firm and broader sentiment gradually 
improving, bulls are watching closely for a push into higher supply zones. If 
confirmed, a breakout from this range could send SOL toward new short-term 
highs. The coming days will be critical in determining whether Solana can 
sustain this momentum and lead the next altcoin rally. Solana Tests Support As 
TD Sequential Signals Rebound Solana is holding a critical support zone near 
$145 after shedding more than 20% of its value since late May. The correction 
has brought SOL into a key demand area, where bulls appear to be defending the 
level with strength. Despite attempts to reclaim $160, the altcoin has faced 
persistent resistance, with fading momentum and rising macro risks clouding 
short-term price action. Market-wide conditions haven’t helped either. Both 
Bitcoin and Ethereum have stalled below key resistance zones, failing to spark 
a broader rally in altcoins. This hesitation has intensified uncertainty, with 
some analysts calling for a deeper retracement in SOL if market leaders 
continue to slide. However, others remain optimistic that Solana could soon 
turn the tide. A key signal for Solana has emerged, with analyst Martinez 
reporting that the TD Sequential indicator printed a buy signal on the daily 
chart. Historically, this indicator has been a reliable precursor to 
significant local bottoms and bullish reversals, particularly when seen near 
strong support levels. With SOL recently experiencing a selloff and now 
stabilizing, this signal underscores the growing bullish potential. For now, 
Solana’s ability to hold above $145 will be key. A bounce from this level, 
combined with improving sentiment across large-cap assets, could trigger a 
fresh push toward $160 and beyond. If confirmed, such a move would signal that 
SOL is regaining strength and ready to retest higher resistance levels in the 
weeks ahead. Related Reading: Ethereum Stabilizes After Market Drop – Key MA 
Reclaim Could Trigger A June Rally SOL Retests Support After Prolonged 
Correction Solana (SOL) is trading at $148.44 after attempting a modest 
rebound from its recent local low near $145. The daily chart shows that SOL 
has lost momentum since peaking above $180 in late May, marking a 20% 
correction. Price is now holding just above the 100-day moving average 
(144.68), a key technical level that previously acted as support during 
consolidation phases. The 50-day and 34-day moving averages are now trending 
downward, with the 50-day SMA around $159.33 and the 34-day EMA near $159.35 — 
both acting as dynamic resistance. Meanwhile, the 200-day SMA remains higher 
at $177.49, reinforcing the presence of a strong overhead supply zone between 
$160 and $180. Despite the bearish pressure, volume has remained relatively 
muted during the recent drop, suggesting that panic selling hasn’t taken over 
yet. If SOL manages to hold above the $144–$145 region, this could form the 
base for a rebound, especially if broader market sentiment improves. Related 
Reading: Ethereum Mirrors Bitcoin 2020 Breakout Setup – Historic Run Incoming? 
A daily close back above the 34-EMA could open the door for a recovery toward 
$160. However, a breakdown below $144 could trigger further downside toward 
the March lows. For now, SOL remains at a technical crossroads, with short- 
term direction hinging on the next few candles. Featured image from Dall-E, 
chart from TradingView