UMA surged 26.54% from a high-confluence support area, catching traders&#8217; attention with a sharp bullish move. However, after rejecting from local resistance at $1.80, the focus now shifts to whether bulls can defend support for continuation—or risk a full retrace…

UMA price pumps 26.54%, critical support zone must hold or risk full retrace

Crypto analyst Babenski has declared that the XRP price is breaking for a 
breakout. The analyst highlighted a bullish pattern that was forming, which 
could spark a rally to a new all-time high (ATH). XRP Price Forms Flag Pattern 
Which Points To $5 In a TradingView post, Babenski revealed that the XRP price 
is forming a small flag pattern above a previous big accumulation zone. The 
analyst added that it looks like a breakout could happen soon. His 
accompanying chart showed that the altcoin could rally to as high as $5 on 
this breakout, which would mark a new all-time high (ATH). Crypto analyst Dark 
Defender also recently predicted that the XRP price could rally above $5 on 
Wave 5 of the impulsive move to the upside. He remarked that the altcoin has 
been descending since January 17 this year and that the support level is 
increasing. In line with this, the analyst noted that there is an intersection 
now. Dark Defender declared that this is where XRP will decide within two 
weeks. Related Reading: Why A Sweep At $2 Is Important For XRP Price To 
Continue Rallying His accompanying chart showed that the XRP price could hit 
$5.8563 on this move to the upside. In another X post, he affirmed that the 
altcoin is already on its way to a new all-time high. Crypto analyst Egrag 
Crypto also highlighted the fact that XRP was at a crossroads and could make a 
major move soon. In his most recent analysis, he stated that the XRP is at a 
critical juncture with a major formation breakout. The analyst remarked that 
the probabilities are about 70% to 80% for an upside breakout and 20% to 30% 
for a downside move. He added that the breakout is likely to be triggered by 
some fundamental news and that the chart hints that this news is imminent. 
These fundamentals are expected to be strong enough to break through key 
resistance levels. Things Are About To Get Exciting For XRP In an X post, 
crypto analyst CasiTrades declared that things are about to get exciting for 
the XRP price. She noted that the entire consolidation structure is reaching 
its final moments. With price at a standstill and momentum dormant, she said 
that this is exactly how large market moves are born. Related Reading: What 
Happens To The XRP Price If The 2017 Fractal Plays Out Again? CasiTrades 
mapped out subwave 2 extensions from the recent local low. She stated that if 
that was indeed the Wave 2 bottom, then the measured extension projects upside 
targets. These targets align in the $8 to $13 macro zone which she has been 
highlighting for over a year. The analyst noted that this kind of alignment 
across structure, time, and Fibonacci extensions is rare, which is why 
everyone should be macro bullish on the XRP price. At the time of writing, the 
XRP price is trading at around $2.29, down in the last 24 hours, according to 
data from CoinMarketCap. Featured image from Getty Images, chart from 
Tradingview.com

XRP Price Forms Flag Pattern Above Accumulation Zone That Points To $5 Target

At a Morgan Stanley event in New York, Bank of America CEO Brian Moynihan 
revealed that the banking heavyweight is “working with the industry” on 
launching a stablecoin. Bank of America Boss Warns: Miss the Stablecoin Shift, 
and Competitors Will Feast Bank of America chief Brian Moynihan once again 
brought up the topic of stablecoins […]

Bank of America CEO: Delay on Stablecoins Could Let Tech Rivals Eat Banking’s Lunch

Distorted price signals from fiat currencies have destroyed the ability to 
make rational economic calculations, according to Truth for the Commoner 
founder Marty Bent.

Bitcoin advocate TFTC launches browser extension for real-time BTC pricing

On-chain data suggests Ethereum doesn&#8217;t face any dominant resistance levels 
until $3,417, something that could open up the path to the mark. Ethereum Cost 
Basis Distribution Shows Resistance Ahead Is More Spread Out In a new post on 
X, the on-chain analytics firm Glassnode has talked about how the Cost Basis 
Distribution is looking for Ethereum right now. The &#8220;Cost Basis Distribution&#8221; 
is an indicator that tells us about how much of the asset&#8217;s supply was last 
purchased at which price levels. Related Reading: Bitcoin Back At $109,000, 
But HODLer Profit-Taking Down 89% First, here is a chart that shows what the 
cryptocurrency&#8217;s latest breakout has been like from the perspective of this 
indicator: As displayed in the above graph, Ethereum has managed to break 
through a few notable supply levels with the latest price surge. Both the 
$2,700 and $2,740 levels hold the cost basis of about 1.3 million ETH, while 
the $2,760 mark holds that of 800,000 ETH. In on-chain analysis, levels 
concentrated with supply are considered important, due to the simple fact that 
investors are likely to show a reaction to price interactions with their cost 
basis. When this retest occurs from below, the holders may react by selling 
their coins. Loss investors can be desperate to get back into the green, so 
when the price does return to their break-even, they can panic and exit out of 
fear that they will go back underwater in the near future. Naturally, the more 
investors that share their cost basis at a particular level, the stronger this 
kind of selling reaction tends to be. As such, levels above that hold a 
significant amount of supply can act as resistance barriers to ETH&#8217;s price. 
Ethereum was earlier stuck under the aforementioned supply zones for a month, 
potentially because of this resistance effect, but now the cryptocurrency has 
finally reclaimed them. Just like how strong levels above can pose resistance, 
those below can be a center of support instead. As such, it&#8217;s possible that 
the role of the $2,700, $2,740, and $2,760 supply walls would now change. 
&#8220;These investors accumulated during consolidation and now will potentially 
form a strong support zone,&#8221; notes Glassnode. The support effect can arise 
from holders carrying a bullish mindset and looking at declines to their cost 
basis as dip-buying opportunities, or simply from them wanting to protect 
their acquisition boundary. Now, here is another chart shared by the analytics 
firm that shows how the Ethereum Cost Basis Distribution looks for the levels 
ahead of the latest spot value: From the graph, it&#8217;s visible that the levels 
ahead have the Ethereum supply distributed in a more uniform manner, with no 
strong clusters present until $3,417. More specifically, the price levels 
before this mark contain 200,000 to 400,000 ETH at every $50 gap. In 
comparison, the $3,417 level currently holds the cost basis of about 607,950 
ETH. Related Reading: Toncoin Heading Toward 40% Breakout, Pattern Could 
Suggest &#8220;If the $2.70K–$2.76K support range holds, the path to $3.42K remains 
technically open &#8211; but the response from holders in the $2.8K–$3.3K range will 
define how quickly ETH can climb &#8211; currently, it&#8217;s already 47.5% up QTD,&#8221; 
explains Glassnode. ETH Price Ethereum briefly broke above $2,830 in the past 
day, but the coin has since faced a pullback as it&#8217;s back at $2,780. Featured 
image from Dall-E, Glassnode.com, chart from TradingView.com

Ethereum To $3,400? On-Chain Shows No Big Hurdles Ahead

John Woeltz and William Duplessie reportedly pleaded not guilty to the 
kidnapping and false imprisonment of Michael Valentino Teofrasto Carturan in 
New York City.