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XRP price action has got the crypto community talking after the third-largest cryptocurrency hit a historic support level. Renowned market analyst Javon Marks called out this development on X, formerly Twitter, and stated, “This Candlestick and Volume combo on XRP should tell it ‘all’. Sellers (Bears) were rejected at a level not seen since perhaps 2017-2018. The bulls showed a dominant presence, so despite the recent price action, they can be coming to dominate.” Source: Javon Marks Interestingly, after XRP hit the $1.9 to $2.0 area, the altcoin experienced a major reversal to the upside, given that bulls came out guns blazing. Therefore, Marks believes this occurred after XRP hit a major and historic 2017-2018 support level. Even though XRP has been trying to break out of the significant resistance level of $2.5 in vain, time will tell whether bulls will carry the day and breach this level. According to CoinGecko data, XRP was down 17.9% in the past week to hit $2.21. Are Whales Contributing to XRP’s Price Instability? XRP has been experiencing intensified selling pressure, contributing to its price trading below the psychological threshold of $2.7. Whales seem to be the engine behind this trend since they sold more than 370 million XRP in a span of just 96 hours, according to renowned market analyst Ali Martinez. Source: Ali Martinez Despite this bearish momentum, John Reed Stark alluded to the light at the end of the tunnel. The former United States Securities and Exchange Commission (SEC) official recently opined that the agency was on track to dropping its appeal in the Ripple lawsuit. Stark categorically said, “Dropping of the SEC’s Ripple appeal next up for sure.” If this is approved, XRP will be laughing all the way to the bank, based on the bullish momentum expected.

Cardano (ADA) continues to trend in murky waters as the eighth-largest cryptocurrency is in a make-or-break situation. This is based on the fact that ADA is hovering around the major support level of $0.68 and $0.80 as acknowledged by renowned market analyst Ali Martinez. Source: Ali Martinez Therefore, according to the above chart, a breakout to the downside will spell doom for Cardano since it might drop to the $0.33 area. Nevertheless, if ADA breaches $0.80, its journey of reclaiming the psychological price of $1 will be firmly locked. According to CoinGecko data, Cardano’s price was hovering around $0.6636 at the time of writing. Is Cardano’s Price Revival on the Horizon? Since ETFs usually trigger a bullish picture due to intensified institutional investments, Cardano is considering this route. This is based on Grayscale’s Cardano ETF application with the United States Securities and Exchange Commission (SEC). Grayscale is a leading American asset management firm with assets under management (AUM) worth $50 billion. Therefore, a price revival will be imminent if a Cardano ETF gets the green light. Furthermore, ADA’s bullish sentiment is supported by various on-chain metrics. For instance, a market analyst who goes by the pseudonym Bleeves Crypto recently pointed out that if Cardano continued following the Golden Ration playbook, a surge to $8 would materialize. The analyst stated, “If Cardano ADA plays out to the Golden Ratio from the bottom and top of the last Bull cycle then it is due for a move to $8.06.” Source: Bleeves Crypto Martinez also acknowledged that Cardano would reclaim the $1 price level if it continued mirroring BNB’s trend.

As and when US President Donald Trump gave the go-ahead to the United States Crypto Reserve, that includes major US-made altcoins Solana (SOL), XRP, and Cardano (ADA), in addition to Bitcoin (BTC) and Ether (ETH), cryptocurrencies as a whole turned bullish, with the altcoin sector especially reclaiming a valuation of $873 billion. According to CoinMarketCap data , Solana (SOL) jumped 11.24%, XRP shot up 14%, while Cardano (ADA) ranked among the biggest gainers, soaring 43.96% in the past 24 hours. Meme coins Dogecoin (DOGE) rose 5.25%, dogwifhat (WIF) climbed 17.22%, and SPX6900 jumped 15.93%. This broad surge suggests that traders are moving into altcoins, hinting at the early phases of a potential altseason. While the market seems excited, a few analysts and industry figures stayed cautious. Crypto analyst Ali Martinez pointed out that even if Trump signs an executive order, it will not result in an immediate US Crypto Reserve. He listed several obstacles like Congress drafting and passing legislation, finding funding methods, and setting compliance rules by authorities. Additionally, crypto exchange BitMEX co-founder Arthur Hayes dismissed Trump’s announcement as mere words, stating, “Nothing new here. Just words. Let me know when they get Congressional approval to borrow money or revalue the gold price higher. Without that, they have no money to buy bitcoin and shitcoins.” On the other hand, crypto participant Hizzim noted that while the government is unlikely to print money to buy crypto, its strategic interest in these assets could still shape favorable regulations for US-based crypto firms, ultimately benefiting the market. They described the situation as “win-win.” Renowned analyst Jason Pizzino argued that Bitcoin’s recent price action was already setting the stage for a bullish move before the news about Trump’s crypto reserve came out. Using key support and resistance levels, Pizzino noted that BTC had already rebounded from critical areas. Additionally, the altcoin market cap chart reveals that the On Balance Volume (OBV) indicator is trending upward, suggesting stronger buying pressure. This development implies that both institutional and retail investors are accumulating altcoins in anticipation of a rally. The Moving Average Convergence Divergence (MACD) indicates a bullish crossover as the blue MACD line crossed above the orange signal line. The histogram has also turned bullish with green bars, hinting at growing volumes on the positive side. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Bonk ($BONK) analysis against USD highlights a significant shift in market structure following a breakdown from a well-defined parallel channel. Throughout most of 2024, $BONK moved within this ascending channel, using its trend lines as dynamic support and resistance. According to analyst Ali, BONK is closing in on the $0.000009 target after breaking out of a parallel channel. $BONK is closing in on the $0.000009 target after breaking out of a parallel channel! pic.twitter.com/ND2xkbPBPZ The cryptocurrency is currently trading at $0.000013495, reflecting a 1.3% gain, but this minor recovery does not change the broader downward momentum.The support level is observed near $0.00001314, where buying interest has kept the price from falling further. On the upside, $0.00001373 acts as the resistance level, where selling pressure has capped further gains. Currently the market remains in a holding pattern because traders are waiting for prices to break out from their constrained trading range. If bullish sentiment strengthens and volume increases, BONK could breach resistance and move towards $0.00001400 – $0.00001420. Conversely, if selling pressure intensifies, the price could dip to test the $0.00001310 – $0.00001300 support zone. Data from Coinglass show that BONK traded at low volumes throughout a span from late July to early October as it remained within the $100M to $300M range without substantial price variability. Trading volume reached a significant peak during late October at the same time that prices exhibited a major upward change. The daily trading volume of BONK reached near $1 billion on November 24 while prices demonstrated a major upward trend at that time. Throughout December and January, BONK saw periodic volume spikes, though they were significantly lower than the late-November peak. The market’s successive price highs were progressively declining which indicated weakening bullish price action. The trading activity along with market interest decreased between mid-February as both volume and price declined toward $50M. Reduced trading activity appears likely when volume levels stay low since it indicates limited market participation. DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Filecoin (FIL) has been going through a significant downturn pressure for some time now. Today, data reported by market analyst Ali Martinez highlighted that the token is holding above a critical support level. This suggests that FIL might be on the verge of a significant price trajectory soon. #Filecoin $FIL is holding above a critical support level! pic.twitter.com/DZaZFiVE4p — Ali (@ali_charts) March 1, 2025 Filecoin holds support at $3.14-$2.9 Filecoin has been seeing significant declines over the past month. Today, Martinez posted on X that the asset is holding above crucial support levels that could decide its next major price movement. As per Martinez’s technical chart, FIL’s price is currently standing at $3.12. Its recent price actions show that the asset appears to holding firm around the key support levels of $3.14 and $2.9. For the past five days, Filecoin formed a bullish triangle pattern, which has been sustaining its price above the $2.9 support level to its current price near $3.12. The price stability around this zone reflects a buy activity by investors. This shows a potential buying opportunity around these areas where the market finds its support zones between $2.9 and $3.14. Those who are contributing to this bullish sentiment are whales and large holders who are buying massive amounts of Filecoin. If Filecoin could maintain its price above these support levels, it may trigger a further surge toward the resistance level at $3.55. FIL price updates Filecoin has been experiencing a difficult market environment over the past month, coinciding with the wider downtrend in the digital asset market. Its price has been down 32.0% over the past 30 days. Despite this slump, recent price actions show that Filecoin could be preparing to make a potential breakout from its ongoing downtrend. It has been displaying improvements indicated by a gradual decrease in its downturn. While the asset has been down by 8.7% over the past two weeks, it saw a price decline of 5.0% over the past week. Today, the asset is trading at $3.18 after seeing a rise of 2.4% over the previous day. This shows that the token is witnessing small recoveries as days unfold. However, for this recovery to show a true breakout, Filecoin must move above critical resistance levels. A rise to the resistance zone of $4.33 and $4.50 would suggest a change in trend, indicating that a breakout from the downturn could be imminent. Furthermore, its ability to maintain above the support level at $2.93 could further unfold uptrend prospects. The major factor behind Filecoin’s price jump is the buying pressure, which is gaining strength against selling. Heightened market participation, especially from whales and long-term holders, helps to maintain its price. Data from Coinalyze shows that Filecoin Open Interest (IO) has risen by 2.6% over the past 24 hours. The surge in OI shows that more traders are creating positions in the asset hoping for future price increases. This activity suggests investors’ confidence in the token’s long-term growth potential.