Kategorie: Crypto Analysis

Key takeaways

• SOL is the worst performer among the top 10 cryptocurrencies today, down 3.5% in the last 24 hours.
• Its poor rally can be attributed to Pump.fun’s account ban on X and the ongoing conflict in the Middle East.

Crypto market still reeling from the Middle East crisis

The cryptocurrency market has had a bearish few days, courtesy of the ongoing conflict between Iran and Israel. Bitcoin, the leading cryptocurrency by market cap, has lost 3.4% of its value over the past seven days and currently risks dropping below $105k. At press time, the price of Bitcoin stands at $105,688 per coin. 

Thanks to the ongoing bearish performance, the total cryptocurrency market cap has dropped below $3.3 trillion.

SOL, Solana’s native coin, is one of the worst performers among the top 10 cryptocurrencies by market cap. While it is affected by the same fundamentals as the broader market, other catalysts have helped dampen SOL’s performance.

SOL dips to $150 on Pump.fun’s X ban

SOL is currently trading at $150.08, down 3.43% in the last 24 hours. Its poor performance can be attributed to the unexpected suspension of Pump.fun from X. Pump.fun is the leading memecoin launchpad on the Solana blockchain.

Social media platform X suspended the X accounts of Pump.fun, its co-founder, Alon Cohen, and several high-profile meme projects, including GMGN and ElizaOS. This was a major blow because Pump.fun had become a major driver of onchain activity and speculative momentum on Solana. Thousands of memecoins have launched on the Solana blockchain over the past few months, thanks to Pump.fun.

In addition to the Pump.fun X ban, the ongoing conflict in the Middle East is affecting the performance of Bitcoin, Solana, and other major cryptocurrencies. 

SOL could test the $140 support level

While SOL is trading around $150 at the moment, it could dump to the $140 support level in the coming hours or days. Currently, SOL is forming a descending triangle, a bearish reversal pattern. 

If SOL fails to bounce back after hitting the $140 support level, then the cryptocurrency could dump further and head towards the $110 psychological mark. Furthermore, the MACD is hinting at weakness, with the $140 support level could give way for a dump towards $110 in the near term.

Despite the ongoing bearish price action, SOL could bounce back if there is a ceasefire in the Israel-Iran conflict. Currently, capital is moving into the U.S. Dollar and Gold as safe-haven assets while risk-based assets like Bitcoin and Solana underperform. With a ceasefire, SOL could quickly reclaim the $170 resistance level.

The post Solana price prediction: SOL to test the $140 support level after Pump.fun ban appeared first on CoinJournal.

• Judge Torres rejected the earlier motion in May, citing a lack of “exceptional circumstances.”
• The SEC filed a new status report on 16 June requesting a hold on appellate proceedings.
• At the time of writing, this motion is still pending, and the court has not yet issued a decision.

The ongoing legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) has entered yet another phase of delay.

Both parties have now requested the US Court of Appeals for the Second Circuit to pause proceedings, this time until 15 August 2025, as they attempt to settle the matter out of court.

This request follows a series of developments in the case, including failed motions, revised penalty proposals, and ongoing efforts to lift an existing injunction against Ripple’s activities.

SEC and Ripple seek settlement and injunction relief

Ripple and the SEC have jointly filed a motion asking the district court to dissolve the permanent injunction imposed on Ripple Labs and reduce the financial penalty from $125 million to $50 million.

This is part of a larger attempt to resolve the case through a settlement rather than continuing with a protracted appeals process.

The background to this stems from April 2025, when the two sides submitted a request for an “indicative ruling” to modify a final judgment.

The aim was to allow Judge Analisa Torres to revise the court’s original orders in light of ongoing negotiations.

However, on 13 May, Judge Torres rejected the request, stating that the motion failed to meet the required “exceptional circumstances” standard needed to modify a final ruling under Rule 62.1.

Despite this setback, Ripple and the SEC returned with a new motion on June 12, again asking the court to reconsider the existing injunction and accept the revised $50 million settlement figure.

At the time of writing, this motion is still pending, and the court has not yet issued a decision.

SEC status update urges suspension until August 15

The SEC filed a new status report on 16 June, requesting that the appeals process be put on hold until at least 15 August.

The report argues that continuing the appeal during this interim period would be inefficient and potentially unnecessary if the district court rules in favour of the joint motion.

The pause has not yet been granted. The request remains under consideration by the Second Circuit.

Earlier this year, a similar delay had been requested, underscoring both parties’ shared interest in resolving the case through negotiation rather than extended litigation.

The strategy appears to be aimed at conserving resources and avoiding a drawn-out appeals process, which could stretch into 2026 without resolution.

XRP price steady amid legal uncertainty

Amid the legal developments, XRP has shown some resilience in the market.

As of the latest data, XRP is trading at $2.21, reflecting a modest rise in the past 24 hours. The token’s total market capitalisation currently stands at $130.5 billion.

Market watchers suggest that a favourable court ruling could potentially remove barriers for Ripple’s business operations and inject new momentum into the XRP token’s performance.

No final outcome has yet been reached, but if the district court agrees to dissolve the injunction and endorse the $50 million settlement, it could mark a turning point in the long-running regulatory conflict.

For now, all eyes remain on Judge Torres’ decision, and its potential impact on both Ripple and the broader crypto regulatory environment.

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• WhiteBIT Coin (WBT) has hit a new all-time high amid strong bullish momentum.
• WhiteBIT has listed the HOME token and launched HOME/USDT trading.
• WhiteBIT has teased a major football partnership, fueling further hype.

WhiteBIT Coin (WBT) surged to a new all-time high of $34.10 on June 12, 2025, marking a major milestone for the rapidly growing crypto project.

The latest price action reflects a strong wave of bullish momentum that has gripped the token, lifting it well above recent resistance levels and signalling growing investor confidence.

The price has soared 7.5% in the past 24 hours and now trades at its peak daily value, with the 24-hour low recorded at $31.70.

Compared to the previous week, WBT has gained 8.9%, and its monthly performance now stands at an impressive 13.0%, showing a steady and convincing uptrend.

Over the past year, WBT has rallied by an extraordinary 247.6%, making it one of the top-performing digital assets among its peers.

This growth places WBT at position 34 in the global crypto rankings, with a market cap exceeding $4.9 billion and a fully diluted valuation of over $11 billion.

Why is the price of WhiteBIT Coin (WBT) rising?

1.     Fresh token listings on WhiteBIT exchange

One of the key developments fueling the surge in WBT’s price is the recent listing of the $HOME token on the WhiteBIT exchange.

Earlier today, WhiteBIT announced the launch of trading for the HOME/USDT pair, drawing attention to its expanding range of decentralised finance (DeFi) assets.

The platform also introduced HOME-PERP to its futures trading section, boosting trading volume and interest from derivative market participants.

Futures update! Welcome the arrival of a new pair with @defidotapp:

• $HOME-PERP: https://t.co/xXoZcG46kf

Please note that the asset is only available for futures trading.
Stay in the loop with the futures updates! pic.twitter.com/5JiawGGS3Z

— WhiteBIT (@WhiteBit) June 12, 2025

This move not only enhances the exchange’s utility but also underscores its commitment to supporting emerging blockchain projects.

As WhiteBIT continues to list more tokens, its native coin, WBT, benefits from increased user activity and a more diverse trading environment.

2.     Community confidence, which is driving growth

Community enthusiasm also appears to be playing a vital role in WBT’s current price breakout.

In a tweet posted two hours ago, WhiteBIT celebrated WBT crossing the $33 mark, calling it a “historical moment” and inviting users to stack more tokens.

This public show of confidence reinforces the narrative that the project is not only gaining traction but is also backed by a passionate and expanding user base.

As investors react positively to these milestones, their growing confidence is translating into heightened buying pressure across markets.

Momentum like this often sets the stage for further upside, especially in a bullish crypto environment.

3.     Partnership with a European football club

The WBT’s price rise also coincides with WhiteBIT teasing a new partnership with an undisclosed European football club.

The announcement, made via X, has sparked speculation across the crypto community and suggests a broader marketing push by the exchange.

We’re thrilled to announce our new partnership!
Can you guess which European Football Club we’ve teamed up with? 🤍🖤 pic.twitter.com/qLLWKCCuzZ

— WhiteBIT (@WhiteBit) June 12, 2025

Strategic partnerships like these can significantly enhance brand visibility, attract non-crypto audiences, and elevate token demand.

For WBT, such exposure could translate into more holders, increased trading volume, and a stronger long-term growth trajectory.

With rising volumes, fresh token listings, strong community engagement, and major announcements underway, WBT’s rally appears to be supported by more than just short-term hype.

If bullish conditions persist and WhiteBIT continues its aggressive expansion strategy, the WBT coin could be poised for even greater highs in the days ahead.

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• Societe Generale has launched its USDCV stablecoin on Solana and Ethereum; trading to start in July.
• SOL price holds steady as institutional adoption gains traction.
• Solana ETF decision and upgrades could boost long-term value.

Solana’s native token, SOL, continues to draw the attention of institutional and retail investors alike, as the blockchain’s real-world adoption gains a powerful boost from one of Europe’s largest banks.

This renewed attention comes amid news that Societe Generale’s digital asset subsidiary, SG-FORGE, will launch a new US dollar-pegged stablecoin, USD CoinVertible (USDCV), on both the Ethereum and Solana blockchains.

Societe Generale will launch a dollar-backed stablecoin called „USD CoinVertible“ through its crypto unit SG-FORGE, becoming the first major European bank to do so.

It will be available on Ethereum and Solana, with public trading expected in July. pic.twitter.com/Kws4xmuf1T

— Satoshi Club (@esatoshiclub) June 10, 2025

While the announcement underscores a broader institutional pivot toward blockchain-backed finance, it also injects new momentum into Solana’s market narrative, reinforcing its role as a serious contender to Ethereum’s dominance.

Societe Generale’s stablecoin adds credibility to Solana

The issuance of USDCV marks the first time a major traditional banking institution has deployed a USD-backed stablecoin on public blockchains, signalling a historic moment for digital finance.

Unlike many stablecoins that operate from crypto-native origins, USDCV benefits from the backing of a globally recognised bank and custodial oversight by BNY Mellon, one of the world’s largest asset custodians.

This move not only reinforces Solana’s legitimacy among regulators and institutions but also provides a strong use case for stablecoins within compliant, real-world frameworks.

Although USDCV is not available to US residents, its intended audience spans global institutional and retail clients, a clear indication that Solana is evolving into an infrastructure layer for regulated finance.

SOL price holds firm amid bullish developments

Following the announcement, SOL’s market behaviour has remained relatively stable, trading in a narrow range between $155 and $162, suggesting investors are cautiously optimistic.

Currently priced at around $157.74, SOL has posted a 1.8% gain over the past 24 hours, with a circulating market cap exceeding $83 billion and a trading volume of more than $4.5 billion.

Although short-term price fluctuations are still influenced by broader macroeconomic conditions, Solana’s technical foundation and increasing real-world utility continue to give it a unique position in the digital asset space.

The network’s high throughput and low fees, powered by its Proof-of-History consensus model, remain strong differentiators that attract developers and institutions alike.

Upcoming Solana ETF decision and upgrades fuel long-term confidence

As investors monitor the SEC’s upcoming decision on the staking-enabled Canary Marinade Solana ETF, due July 24, broader confidence in Solana’s institutional adoption is gaining steam.

This ETF, if approved, would be the first in the U.S. to offer staking rewards via Marinade Select, setting a precedent for yield-generating crypto funds and offering another layer of value to SOL holders.

Moreover, Solana’s network upgrades, including the Firedancer validator client and expanded block space capacity, aim to boost scalability and reliability, addressing past concerns about outages.

Partnerships with major firms like Shopify and Visa further highlight Solana’s potential in payments and global commerce, making it a more appealing long-term investment option.

In parallel with financial use cases, Solana is also being used for groundbreaking tokenisation efforts in the public sector, with the Central African Republic preparing to sell tokenised land via its CAR token.

This initiative leverages Solana’s infrastructure to enable global investors to purchase subdivided, development-ready land while laying the groundwork for broader resource tokenisation.

Solana price outlook remains cautiously optimistic

With the Societe Generale USDCV expected to begin trading in early July and the Solana ETFs decision looming, market sentiment around SOL cryptocurrency may shift sharply if these developments progress without delay.

While volatility remains a staple of the crypto markets, the fusion of regulatory compliance, institutional adoption, and public sector innovation positions Solana as a blockchain to watch in the second half of 2025.

In the meantime, eyes are on whether Solana (SOL) can regain the resistance at $175, which depends on whether it can maintain above $150, awaiting the USDCV trading to kick off and the ETFs greenlight.

The post SOL price outlook as Societe Generale launches stablecoin on Ethereum and Solana appeared first on CoinJournal.

• XRP has rebounded to $2.18, overcoming an hourly death cross signal.
• The RLUSD volume has dropped over 60% amid halted minting.
• XRP is likely to trade between $2.15 and $2.25 in the short term.

The price of XRP has shown notable resilience even as broader market sentiment remains cautious.

As of press time, XRP trades at $2.18, reflecting a slight 0.2% increase over the past 24 hours.

The cryptocurrency rebounded sharply after falling to $2.06 on Thursday, recovering most of the intraday losses and closing the trading session with signs of renewed bullish pressure.

Ripple USD (RLUSD) sees a steep volume decline

While XRP has been showing signs of strength, Ripple’s stablecoin, Ripple USD (RLUSD), has suffered a sharp drop in market activity.

The trading volume for RLUSD has declined by more than 60%, plunging to around $42 million according to CoinMarketCap data.

According to market observers, the decline has been attributed to a pause in minting, as Ripple has not issued any new RLUSD tokens in over 41 days. This prolonged halt suggests either a strategic move to limit supply or waning demand for the asset.

The drop in volume has led to speculation about its potential impact on the XRP Ledger ecosystem.

Some analysts argue that lower RLUSD activity could reduce liquidity across decentralised exchanges and decentralised applications built on the XRPL.

Although RLUSD was introduced as a competitor to dominant stablecoins like USDT and USDC, the recent decline hints that user adoption may be stalling.

However, XRP has remained relatively insulated from this downturn, largely due to its broader utility in cross-border payments and remittances.

Despite the interconnectedness of the two assets within Ripple’s ecosystem, XRP’s price dynamics appear to be decoupling from those of RLUSD.

This separation reinforces the view that XRP’s valuation is being driven more by investor sentiment and trading activity than by RLUSD’s performance.

XRP price prediction

Over the last seven days, XRP has hovered within a tight range of $2.09 to $2.28, suggesting a consolidation phase.

Notably, it has registered a 313.9% gain year-on-year, a strong signal of underlying investor confidence.

Despite a “death cross” formation (the SMA 50 went below the SMA 200) on the hourly chart—a technical pattern typically interpreted as bearish—XRP defied expectations and staged a reversal.

XRP bulls, undeterred, successfully defended key support levels and ignited a recovery that coincided with an over 70% surge in trading volume, which reached $3.5 billion within 24 hours.

The strong volume support underscores that buyer interest remains active, even amid mixed technical signals.

Looking ahead, XRP’s price outlook presents a balanced mix of caution and optimism.

On the hourly chart, the asset is attempting to break past short-term resistance at $2.19, which aligns with the 200-hour simple moving average.

A successful breakout above this level could pave the way for another test of the $2.28 zone, which marked a recent high.

Failure to close above $2.19, however, may trigger a pullback toward $2.15, a range where XRP has shown stability over the past few sessions.

On the daily chart, XRP recently bounced off the $2.0777 support level, suggesting that bullish sentiment is not entirely exhausted.

Although momentum has slowed, the asset remains within a consolidation channel between $2.15 and $2.25.

Unless sellers gain control, this range-bound behaviour is expected to continue in the short term.

A strong weekly close above $2.25 could revive hopes for a push toward the $2.40 level, which would represent a fresh local high.

In the short term, as long as key support levels hold and volume remains elevated, XRP may continue to trade with a slight bullish bias in the coming days.

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