Valeria Blokhina
What happened in crypto industry over past day? Read U.Today’s news digest to find out!
Don’t miss anything in the world of crypto with U.Today’s top three crypto news stories over the past day.
Ripple CEO names most important date for XRP holders
During his recent appearance at XRP Apex 2024, together with his colleague David Schwartz, Ripple CEO Brad Garlinghouse commented on the company’s ongoing legal battle with the SEC. When asked about whether Ripple’s position from a regulatory perspective is improving, Garlinghouse claimed that his company is getting close to the end of its lawsuit with the regulating agency. “You know, in some ways, you look at that now and you say we’re almost at the very very end of that journey,” the CEO stated. Garlinghoused then added that in his estimation, even though no one can control when the judge makes her decision, the case is going to be resolved at “the end of summer.” “Somebody asked me if it would be by the end of August. I pointed out that Sept. 21 is the end of summer, so I don’t know,” Garlinghouse said.
Legendary trader John Bollinger breaks silence on Bitcoin price
While Bitcoin is experiencing significant volatility, financial analyst John Bollinger has taken to X platform to share his view on the flagship crypto’s price movements. Over the past few weeks, Bitcoin has dramatically fluctuated; it quoted around $70,000 and then abruptly dropped by about 4%. This decline occurred after a period of price consolidation, during which Bitcoin appeared ready for a new high. Bollinger addressed the market’s belief that extended periods of consolidation can lead to significant price gains. Citing an old market principle, “the bigger the base, the higher in space,” he suggested that a strong base period would result in substantial upside. The key question now is whether BT C will hold this level or see further changes.
Shiba Inu (SHIB) might reverse in next 3 days: Here’s why
Shiba Inu approaches a critical price threshold; the 200 EMA is expected to turn into the primary support level for the meme token in a bullish mode. However, the break below it will definitely pose significant issues, forcing Shiba Inu into the void and possibly setting off the death cross. At the moment, Shiba Inu is changing hands at $0.00002121, trying to stay above key support levels. The crucial level to watch now is the 200-day Exponential Moving Average. If SHIB can keep its footing above this level, a major reversal could occur. However, if this support is not maintained, further declines and a bearish trend could occur. The price of SHIB could rise for a few reasons. As always, good news or changes in the Shiba Inu ecosystem could trigger a price reversal, as well as the market’s recovery or a rise in interest from institutional investors.
