Ripple price forecast: XRP retests the $1.96 support

Key takeaways

  • XRP is down 1% in the last 24 hours and is trading at $1.99.
  • Failure to defend the $1.96 support could see XRP dip lower.

XRP drops below $2

The cryptocurrency market has underperformed over the past few days, with Bitcoin and other major coins currently in the red. Bitcoin, the leading cryptocurrency by market cap, has dropped below $90k and could retest lower levels if the bearish trend continues.

XRP, the native coin of the Ripple blockchain, is also in the red zone, after losing 1% of its value in the last 24 hours. The bearish performance means that XRP was unable to defend the $2.0 psychological level, as it is now trading at $1.99.

The bulls will now be forced to defend the $1.96 suppport level as failure to do so could see XRP record massive losses over the next few days. Currently, the market is still consolidating, with no clear direction in sight. 

XRP could extend its decline if bulls fail to defend the $1.96 support

The XRP/USD 4-hour chart is bearish and inefficient, with the inefficiency caused by the October 11 deleveraging event. Since then, XRP has failed to rally to the $2.7 level to gain efficiency. 

The cryptocurrency lost 3.22% of its value last week, making it the second consecutive week of losses. At press time, XRP hovers around $1.99.

XRP/USD 4H Chart

If XRP fails to recover and closes the daily candle below the $1.96 support, it could extend the decline toward the next daily support at $1.77.

The RSI on the 4-hour chart is 41, below its neutral level of 50, indicating that bearish momentum is gaining traction. The MACD lines are also converging, adding more confluence to the consolidating market condition. 

On the flip side, if XRP stays above the $1.96 daily support, it could extend the rally toward the next daily resistance at $2.35.

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Nasdaq tokenized shares face key SEC regulatory test

  • Nasdaq plans to place tokenized and traditional securities on the same order book.
  • Settlement would still run through DTCC systems despite blockchain integration.
  • Industry responses are split as regulators assess legal and operational risks.

The US Securities and Exchange Commission has begun a formal review that could determine whether tokenized shares are allowed to trade on Nasdaq, placing blockchain-based securities under close regulatory examination.

By seeking public feedback on Nasdaq’s proposed rule change, the SEC is assessing how digital representations of stocks might fit within existing market structures.

The move reflects growing interest in tokenization across financial markets, while underscoring regulators’ focus on legal certainty, settlement integrity, and investor protection.

Any decision is likely to influence how quickly blockchain technology is adopted within mainstream equity trading.

According to the SEC filing, Nasdaq has asked for approval to list and trade securities in tokenized form.

This step has triggered a broader consultation process covering regulatory, technical, and policy considerations.

The review will determine whether tokenized shares can operate alongside traditional equities without altering core market safeguards.

Regulatory review begins

Under Nasdaq’s proposal, tokenized stocks and exchange-traded products would trade in parallel with conventional shares.

Both formats would appear on the same order book and carry the same shareholder rights.

Clearing and settlement would continue through the Depository Trust and Clearing Corporation, while blockchain technology would be used to improve operational efficiency.

The SEC’s request for feedback signals that no approval is guaranteed.

Instead, regulators are evaluating whether tokenized securities can deliver faster and cheaper settlement without creating new risks.

The consultation marks the start of a deeper assessment rather than a final decision.

How tokenized shares would trade

If approved, Nasdaq’s framework would allow blockchain-based shares to trade just like regular stocks.

Investors would not need separate systems or accounts, as tokenized and traditional securities would coexist within the same trading environment.

Settlement would still rely on DTCC systems, ensuring continuity with current market processes.

Experts argue that this structure preserves investor protections while allowing blockchain to reduce settlement times and operational costs.

The SEC’s review will assess whether these efficiency gains outweigh potential complexities introduced by tokenized record-keeping.

Industry views divided

Market reactions to the proposal have been mixed. Industry groups have voiced support, pointing to the potential for tokenization to enhance market efficiency and modernise post-trade processes.

Regulatory developments elsewhere also suggest increasing openness.

The US Commodity Futures Trading Commission has approved a pilot programme allowing tokenized assets to be used as collateral, indicating broader acceptance of blockchain-based financial instruments.

However, opposition has emerged from firms including Ondo Finance and Cboe Global Markets.

These companies argue that the SEC should delay approval until the DTCC provides clearer guidance on how tokenized trades would be settled.

Their concern centres on the fact that all such transactions would still depend on DTCC infrastructure, making settlement clarity critical.

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Will Bitcoin overcome the $90k resistance? Check forecast

Key takeaways

  • BTC is trading at $89k after losing less than 1% of its value in the last 24 hours.
  • The leading cryptocurrency could top the $90k resistance level in the near term.

BTC trades below $90k

The cryptocurrency market has opened the new weekly candle bearish, with Bitcoin and other major cryptocurrencies currently in the red. Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) are currently trading around key levels after correcting slightly over the past few days. 

The three leading cryptocurrencies by market cap could record further losses in the near term as bearish momentum builds across key indicators.

At the moment, traders and investors are closely monitoring critical support zones for signs of stabilization or a deeper corrective move.

Traders are keeping an eye on upcoming macroeconomic events in the global financial markets. In the U.S, the events include the unemployment rate, ADP employment data, and weekly jobless claims, alongside November inflation data, and December flash PMI readings.

Furthermore, the speeches from Federal Reserve Governors Stephen Miran and Christopher J. Waller could give investors clues on the path of interest rates.

The Bank of Japan is also expected to raise interest rates to 0.75% at its upcoming policy meeting on Thursday. 

Bitcoin could face further correction

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed in recent days. The cryptocurrency faced rejection from the descending trendline last week, failing to overcome the $94k resistance level. As of Monday, BTC hovers around $89,000.

BTC/USD 4H Chart

If the bearish trend continues, Bitcoin could sink lower towards the next key support level at $85,569. However, this support level remains strong at the moment. 

The Relative Strength Index (RSI) on the 4-hour chart is at 42, below its neutral level of 50, indicating bearish momentum is gaining traction. Furthermore, the Moving Average Convergence Divergence (MACD) lines are converging, and a flip to a bearish crossover could add additional confluence for the bears. 

If the bulls regain control and Bitcoin breaks above the $94k resistance level, it could extend its rally toward the $100,000 psychological level.

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Uniswap price outlook as Ethereum’s Vitalik Buterin offloads UNI tokens

  • Ethereum co-founder has sold 1,400 UNI coins, alongside KNC and DINU tokens, for 16,796 USDC.
  • The transaction comes as bears dominate the broader market.
  • UNI bulls should hold prices above $5 to support short-term recoveries.

Cryptocurrencies display bearishness as Bitcoin wavers below $90,000, currently trading at $89,800.

Amidst the pessimistic sentiments, Ethereum co-founder Vitalik Buterin sparked the altcoin community by reducing his crypto holdings, including 1,400 UNI coins (according to Arkham data).

Alongside Uniswap, Buterin has also dumped 10,000 KNC and 40 trillion DINU tokens, netting 16,796 USDC.

While the transaction might seem modest in dollar amount, any transfer from a top figure like Buterin often gains traction due to its psychological impact on investors and the community.

Is this a routine portfolio adjustment or a lack of conviction in UNI’s short-term performance?

Generally, transactions from leading crypto influencers create notable temporary volatility, prompting quick actions from traders.

Broad market context: bears dominate

Vitalik has reduced exposure to Uniswap as the overall market remains deteriorated.

Cryptocurrencies have been under immense selling pressure lately, with bullish news sparking short-lived gains, only to be followed by significant dips.

Faded liquidity has limited price rallies even after key updates like rate cuts.

Uniswap, as a leading DeFi token, tends to mirror broader sentiments, and high-profile dumps can catalyse significant short-term price fluctuations.

Thus, attention has shifted to native UNI’s performance, and of course, what to expect in the near term.

UNI price outlook

Vitalik Buterin’s selloff coincides with UNI price underperformance.

UNI wavers at $5.40 after a slight 0.87% decline over the last 24 hours.

The digital token showcases a notable post-rally retracement followed by extended consolidations.

UNI price rallied toward $9.8 – $10 in early last month before prolonged downtrends.

The momentum faded amid intensified broader selling pressure, compressing Uniswap’s price into a constricted range.

The UNI price faces its first crucial resistance at $5.80-$6.00, beyond which buyers can extend to $6.50.

Adequate trading volumes will push the alt towards $7.50 and possibly $8.50.

That would mean a nearly 60% upside from Uniswap’s current market price.

On the other hand, UNI boasts a reliable support at $5.10 – $5.20.

Failure to hold this region could trigger dips below $5.00, invalidating the potential upside.

Persistent bearishness might send Uniswap toward $4.50 and the $4.00 support level.

Prevailing broader sentiments and exit from influential individuals like Buterin suggest the downside as the path with fewer resistances for UNI.

Meanwhile, UNI enthusiasts will track overall market performance in the coming sessions, considering the alt’s massive correlation.

All eyes remain on the bellwether crypto.

Bitcoin should overcome the resistance at $94,000 and reclaim $100,000 to flip broader sentiments to bullish.

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