XRP To $12? Analyst Reveals Bold Target From Multi-Year Pattern

NewsBTC

An analyst has pointed out how the breakout from this multi-year long XRP triangle pattern could point to a massive bullish target for the asset’s price.

XRP Has Been Shooting Up Since Breaking Out Of This Triangle

In a new post on X, analyst Ali Martinez has talked about a multi-year technical analysis (TA) pattern in XRP’s weekly price chart. The pattern in question is a triangle, which forms whenever an asset trades between two converging trendlines.

The upper line of the pattern is likely to provide resistance, while the lower one support. A break out of either of these levels can hint at a continuation of trend in that direction; a surge above the triangle can be a bullish signal, while a drop under it a bearish one.

Triangles can be of a few types, with three popular ones being the ascending, descending, and symmetrical variations. The orientation of the trendlines decides which category a specific triangular channel belongs to.

One trendline being parallel to the time-axis means that the pattern is one of the first two types. More specifically, it’s an ascending triangle if the upper line is parallel, while it’s a descending one in the case of a flat lower line.

When both trendlines approach each other at a roughly equal and opposite angle, the symmetrical triangle forms. In the context of the current topic, the triangle of interest is closest to this type.

Below is the chart shared by Martinez that shows the long-term triangle that the 7-day price of XRP was trading inside before its earlier breakout.

As is visible in the graph, the weekly XRP price was trading inside a pattern that looked like a symmetrical triangle with a slight upward bias between 2018 and 2024. In a proper symmetrical triangle, the probability of a breakout occurring is considered the same in either direction, but considering that this triangle was angled upward, a bullish breakout may have been more likely.

And indeed, in November 2024, the asset managed to break past the upper boundary of the formation, kickstarting a bull rally. Generally, triangle breakouts are considered to be of the same length as the height of the pattern. That is, the resulting move in the price may be equal to the distance between the trendlines at their widest.

In the chart, Martinez has highlighted what the target could be for XRP, based on this idea: $12.60. From the current value of the cryptocurrency, a run to this level would imply an increase of almost 287%. It now remains to be seen whether the pattern would hold up for the token.

XRP Price

XRP recovered above $3.37 earlier, but the coin has since seen a retrace as its price is back at $3.25.

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Bitcoin Price Trades Sideways Under $120K—Will Bulls Regain Control?

NewsBTC

Bitcoin price is correcting gains below the $121,200 zone. BTC is now consolidating and might aim for a move above the $120,500 resistance zone.

Bitcoin started a downside correction below the $121,200 zone.
The price is trading above $118,000 and the 100 hourly Simple moving average.
There is a bullish trend line forming with support at $118,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair might start another increase if it clears the $120,250 resistance zone.

Bitcoin Price Holds Key Support

Bitcoin price failed to extend gains above $122,250 and started a downside correction. BTC corrected gains and traded below the $121,200 support zone.

There was a move below the $120,500 level. The price dipped below the 50% Fib retracement level of the upward move from the $116,282 swing low to the $122,272 high. Finally, the price spiked below the $118,500 support and tested the 100 hourly Simple moving average.

Bitcoin is now trading above $118,000 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $118,600 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is near the $120,000 level. The first key resistance is near the $120,250 level. The next resistance could be $120,850. A close above the $120,850 resistance might send the price further higher. In the stated case, the price could rise and test the $122,250 resistance level. Any more gains might send the price toward the $124,000 level. The main target could be $125,000.

More Losses In BTC?

If Bitcoin fails to rise above the $120,500 resistance zone, it could start another decline. Immediate support is near the $118,600 level or the 61.8% Fib retracement level of the upward move from the $116,282 swing low to the $122,272 high. The first major support is near the $117,800 level.

The next support is now near the $116,550 zone. Any more losses might send the price toward the $115,500 support in the near term. The main support sits at $113,500, below which BTC might continue to move down.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $118,600, followed by $117,800.

Major Resistance Levels – $120,250 and $120,850.

Risk Warnings and Disclaimers

Add to Favorites

ICYMI - Cathie Wood: Ethereum is emerging as the institutional blockchain

InvestingLive

Ark Invest CEO Cathie Wood says Ethereum is solidifying its role as the go-to blockchain for institutional use, pointing to growing adoption across major platforms and the stablecoin market. Speaking to CoinDesk, on Monday, US time, Wood noted that both Coinbase and Robinhood have chosen to build their Layer 2 networks on Ethereum, while the bulk of the stablecoin boom is taking place on the protocol.

Wood contrasted Ethereum’s utility with Bitcoin, highlighting that ETH treasuries can be staked to generate yield, adding another layer of functionality. “We had a thesis Ethereum would be the institutional protocol,” she said, “and now it’s playing out in real time.” While acknowledging Ethereum can be higher cost and a little slower, Wood stressed its decentralisation and security advantages.

The comments come as Ark ETFs take their first substantial position in ETH. Wood also revealed Ark has invested in Tom Lee’s $BMNR, which she described as the largest Ethereum treasury in the world.

---

Earlier on ETH:

No stopping ETH, back to US$4600+

This article was written by Eamonn Sheridan at investinglive.com.

Risk Warnings and Disclaimers

Add to Favorites

HashFlare founders given time served for $577M crypto Ponzi

Cointelegraph

The founders of HashFlare, a crypto mining company behind a $577 million Ponzi scheme, have escaped additional jail time after admitting to their roles in the scheme.

Sergei Potapenko and Ivan Turõgin have been in custody for 16 months, and Seattle Federal Court Judge Robert Lasnik gave them time served in their sentencing hearings on Tuesday.

He also ordered each to pay a $25,000 fine and complete 360 hours of community service while on supervised release, which is expected to be served in their native Estonia.

The Department of Justice said on Tuesday that it’s considering whether it should appeal the sentence as prosecutors asked for the duo to be imprisoned for 10 years, while Potapenko and Turõgin had asked for time served.

The pair were arrested in Estonia in November 2022 and spent 16 months in custody before being extradited to the US in May 2024, where they pleaded guilty to conspiracy to commit wire fraud.

Largest fraud case in the court’s history

Seattle prosecutors said it was the largest fraud case they had ever tried, an argument they relied on heavily in pushing for the pair to get 10 years in prison.

Judge Lasnik appeared to find merit in Potapenko and Turõgin’s arguments that the 440,000 customers they were accused of ripping off didn’t suffer significant losses as they forfeited more than $400 million worth of assets as part of their plea deal in February.

The HashFlare founders also noted that 390,000 of those customers who spent $487 million on HashFlare mining contracts have since withdrawn $2.3 billion.

HashFlare a “classic Ponzi,” prosecutors said

Prosecutors had argued that between 2015 and 2019, HashFlare’s sales totaled over $577 million, posting fake dashboards that falsely reported the firm’s mining capacity and the returns investors were making from the scheme. It paid out existing members with funds from newer customers.

“These defendants were operating a classic Ponzi scheme, involving a glitzy asset: a mirage of cryptocurrency mining,” Acting US Attorney Teal Luthy Miller said in the DOJ’s statement.

“Just like a classic Ponzi, they diverted millions of dollars to their own benefit, purchasing their own Bitcoin, real estate, luxury cars, expensive jewelry, and more than a dozen trips on chartered private jets.”

Pair were told to “self-deport” before sentencing

Despite a court ordering Potapenko and Turõgin to stay in the US, the pair said in April that they received a letter from the Department of Homeland Security directing them to “deport immediately” — causing considerable confusion over their futures, their lawyers said at the time.

The HashFlare founders had expressed their wishes to return home on multiple occasions.

Risk Warnings and Disclaimers

Add to Favorites

Ethereum Foundation offloads $12.7 million worth of ETH amid price momentum: onchain analyst

The Block

The Ethereum Foundation has sold at least 2,795 ETH, valued at about $12.7 million, as ether prices surged to yearly highs, according to onchain data.

Onchain data analytics provider Lookonchain reported that the wallet "0xF39…E4B" linked to Ethereum Foundation offloaded 1,695 ETH at around $4,556 for 7.72 million DAI late Tuesday night. Then about an hour later, it sold another 1,100 ETH at $4,602.

The wallet, which originally received 20,756 ETH from the "EF 1" address in 2017, now holds 99.9 ETH (worth about $457,681) alongside 11.6 million DAI.

Ethereum Foundation's move coincides with ether's strong price momentum, with the cryptocurrency reaching above $4,500 — its peak for the year. As of 10:50 p.m. Tuesday ET, ether climbed 7.2% in the past 24 hours to $4,579, according to The Block's Ethereum price page.

Ether is now outperforming bitcoin in year-to-date price gains, fueled by a recent wave of Ethereum treasury companies and significant flows into spot Ethereum exchange-traded funds.

Corporate ether treasuries, led by SharpLink Gaming and Bitmine, now hold close to $9 billion worth of ETH. Meanwhile, spot ETH ETFs recorded over $1 billion in total daily net inflows on Monday, which is a first since their debut last year.

Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

Risk Warnings and Disclaimers

Add to Favorites

Grayscale registers Cardano, Hedera Trust ETF entities in Delaware, signaling potential S-1 filings

The Block

Delaware's official registration portal has added the Grayscale Cardano Trust ETF and the Grayscale Hedera Trust ETF to its list of entities on Tuesday.

Such registrations in the past have preceded official S-1 filings with the Securities and Exchange Commission. The SEC has already acknowledged NYSE Arca’s 19b-4 form for Grayscale's spot Cardano ETF and Nasdaq's form for the Hedera ETF earlier this year.

These are Grayscale's first altcoin ETF trust registrations on the Delaware portal. The investment manager has existing altcoin investment trust registrations for assets like Dogecoin, Filecoin, Avalanche, and Bittensor.

The Block has reached out to Grayscale for confirmation on the latest registrations and for further comment.

Also on Tuesday, Grayscale launched two investment trusts offering exposure to the native tokens of DeepBook and Walrus, both of which provide trading and data infrastructure within the Sui blockchain ecosystem.

U.S. investment managers continue to push efforts to launch altcoin-based ETFs, following the immense success of bitcoin and ether-based funds. These efforts appear to be encouraged by positive developments in Washington, such as the SEC's approval of in-kind redemptions for spot BTC and ETH ETFs.

The SEC is advancing "Project Crypto" in collaboration with the Commodity Futures Trading Commission to provide a clear regulatory framework for the digital asset market. The project aims to distinguish which cryptocurrencies are considered securities and which are not, addressing a major concern that deterred firms from entering the crypto space.

Risk Warnings and Disclaimers

Add to Favorites

XRP’s Price Jump Masks a Quiet Decline in Active Users, Data Shows

NewsBTC

XRP has experienced strong price performance in recent weeks, climbing over 12% in the past month and reclaiming notable price levels.

However, as of the latest trading session, the asset is showing signs of correction. At the time of writing, XRP is valued at $3.17, representing a 1.2% decline over the past 24 hours from its recent high of roughly $3.22.

The recent surge in XRP’s value was largely driven by a major legal development. On August 7, 2025, the long-running US Securities and Exchange Commission (SEC) lawsuit against Ripple and its executives officially concluded.

The end of the case removed a significant source of uncertainty for the asset and sparked immediate price gains. However, on-chain data suggests that the rally may have been driven more by shifts within the existing investor base rather than by new market participation.

XRP On-Chain Indicators Show Mixed Market Dynamics

CryptoQuant analyst CryptoOnchain observed that daily active addresses on the XRP Ledger fell by more than 10% to around 24,701 following the legal resolution.

This decline, despite the price increase, indicates that the upward movement was likely supported by capital rotation from existing holders instead of new user adoption. In the analyst’s view, the absence of a fresh wave of participants could limit the rally’s long-term momentum unless broader retail engagement picks up.

Exchange flow data offers additional insight. Both Binance and Upbit recorded notable spikes in depositing addresses just before and immediately after the SEC case outcome was announced. Historically, such inflow surges can signal that traders are positioning for profit-taking or short-term speculation.

At the same time, withdrawals also rose during this period, implying that some new entrants were building positions. The presence of both trends highlights a mix of motives in market activity, from short-term trading to longer-term accumulation.

Liquidity Concentration and Market Outlook

Changes in exchange reserves further illustrate the evolving market structure for XRP. After a period of decline, Binance’s XRP holdings have been increasing again, while Upbit’s reserves have maintained a steady upward trend.

This reflects a growing role for the Asian market in supporting XRP trading volume. Conversely, OKX now holds almost no XRP, suggesting that most of its reserves have been withdrawn from the exchange.

CryptoOnchain noted that the combination of higher prices alongside a drop in active user numbers points toward a market environment dominated by a smaller, concentrated group of traders.

If exchange reserves continue to build rapidly, the probability of a short-term correction could increase, especially if profit-taking accelerates.

While the resolution of the SEC case has removed a major legal risk for XRP, the sustainability of recent price gains may depend on attracting new market participants and reducing short-term selling pressure.

Featured image created with DALL-E, Chart from TradingView

Risk Warnings and Disclaimers

Add to Favorites