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XRP is consolidating within a symmetrical triangle, and analysts expect a breakout soon. The asset trades around $2.57, hovering near a crucial resistance zone at $2.80. According to market analyst X Finance Bull, XRP’s price continues to respect its support and resistance levels within the accumulation range. The symmetrical triangle pattern indicates price compression, a phase that typically leads to a significant breakout. A surge above the trendline could push the price toward the $3.70-$3.80 range, while a drop below support may send it toward the buy zone at $1.99. Volume levels have declined, signaling reduced volatility. However, an increase in trading activity could confirm the breakout direction. The bid-ask spread remains tight, reflecting strong market participation. Price action suggests that traders are waiting for confirmation before making large moves. Earlier price action shows a sharp drop before entering this consolidation phase. Strong support is still being provided by the lower trendline, which stops additional drops. A bullish rally might be triggered by an upward breakout if the price stays above this trendline. According to market analyst Steph Is Crypto , XRP’s price movement reinforces expectations of an imminent breakout. The symmetrical triangle nears its apex, indicating that a decisive move could happen soon. The price has tested a red resistance zone near $2.80 multiple times but has not yet broken above it. Candlestick patterns remain mixed, alternating between bullish and bearish formations. However, a breakout above $2.80 could confirm strong upward momentum. If the price fails to break resistance, it may retest lower support levels before attempting another move 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.

Germany’s upcoming federal election on February 23, 2025, could mark a turning point in the nation’s approach to cryptocurrency and financial innovation. Friedrich Merz, leader of the center-right Christian Democratic Union (CDU), leads the race with a pro-business and innovation-driven platform. His main rival, Alice Weidel of the far-right Alternative for Germany (AfD), advocates for aggressive crypto reforms and full deregulation of digital assets. With Germany’s influential role in European financial policy, the election’s outcome may shape the country’s stance on digital currencies and financial innovation. Friedrich Merz has built his campaign on promises of economic revitalization, pro-business policies, and financial reform. Before entering politics, Merz held prominent financial roles, including chairman of BlackRock Germany’s supervisory board and senior positions at HSBC Trinkaus & Burkhardt. He also served on the boards of Deutsche Börse, EY Germany, and Borussia Dortmund, reinforcing his financial expertise. To address Germany’s economic stagnation, Merz proposes cutting corporate and income taxes, reducing bureaucratic red tape, and expanding venture capital opportunities to establish Germany as a global startup hub. His platform includes creating a ministerial position for artificial intelligence and digitization, aligning with global trends toward technological innovation. While Merz is not an outspoken crypto advocate, his economic policies could indirectly benefit the digital asset industry. His administration would likely support the introduction of a digital euro, but only if it proves beneficial. A recent survey from Germany’s central bank revealed that half of Germans would “definitely” or “probably” use a digital euro, highlighting growing public interest in central bank digital currencies (CBDCs). Merz aims to balance innovation with regulation, maintaining financial stability while encouraging technological growth. Alice Weidel, leader of the AfD, has taken a far more aggressive stance on cryptocurrency and financial reform. Her platform calls for full deregulation of Bitcoin and other digital assets, promoting a decentralized financial system with minimal government oversight. Endorsed by Elon Musk, Weidel’s proposals include Germany’s exit from the euro—an idea that has sparked significant debate within the financial community. Though trailing in the polls, Weidel’s strong pro-crypto rhetoric has resonated with segments of the digital asset community. Her policies, if implemented, would position Germany as one of the most crypto-friendly regulatory environments globally. As reported by CNF, AfD’s push for extensive crypto deregulation stands out in this election, setting the stage for a potential overhaul of Germany’s digital finance laws. Weidel’s radical proposals represent a stark contrast to Merz’s cautious, business-driven approach. Her vision prioritizes financial autonomy and deregulation, which, while appealing to crypto advocates, raises concerns about market volatility and EU relations. As Europe’s largest economy, Germany’s financial policies carry significant weight within the European Union. A Merz-led government would likely pursue a balanced approach, focusing on reducing bureaucracy while cautiously embracing digital innovation. His plans include strengthening the European Capital Markets Union and positioning Germany as a leader in venture capital and startups through tax incentives. Merz’s platform also emphasizes combating financial crime, with proposals to create a customs police force targeting money laundering and financial misconduct. This regulatory focus suggests that, while supportive of financial innovation, Merz would prioritize oversight and market stability. Conversely, Weidel’s approach signals a radical departure from traditional policies. Her aggressive push for crypto deregulation challenges the CDU’s measured stance and could disrupt Germany’s economic alignment with the EU. As discussed earlier by CNF, the president of the Deutsche Bundesbank, Joachim Nagelt, has expressed skepticism toward cryptocurrencies. Speaking at an OMFIF lecture in association with the London School of Economics, Nagel dismissed the idea of Bitcoin as a reserve asset and warned of the uncertain impact of CBDCs on economic policy. Despite this, the Bundesbank remains a strong proponent of the digital euro.

$ETH - Another nice red candle to buy the dip on to accumulate. So many wait for those green candles outside of the buy box to buy.

Love seeing the days where stocks are red and flat and a lot of crypto is still green. A boring stock market can lead to capital rotation if there's strength elsewhere.

The race to launch another crypto-based exchange-traded fund in the US continues in full force and XRP has reached another milestone as Bitwise’s filing has been officially acknowledged by the SEC. The 19b-4 filing, published in the Federal Register, means that the agency’s approval process has begun, while the interested parties have 21 days to send their comments. Following that deadline, the US regulator has the right to “approve, disapprove, or institute proceedings.” Recall that the SEC previously acknowledged XRP ETF filings from Grayscale and 21Shares, while those from Canary Capital and WisdomTree are still pending. Unlike the acknowledgment of 21Shares’ XRP ETF application, which caused an immediate uproar for the underlying asset, this time, the cryptocurrency failed to produce any substantial gains in the first hours after the news broke. XRP, alongside most of the market, is deep in the red today, dropping by over 5% on a 24-hour scale to under $2.5. Despite these acknowledgments from the US SEC, the agency is still engaged in a legal battle against Ripple. Experts believe the lawsuit needs to be concluded first before a potential approval of an XRP ETF. Additionally, Bloomberg’s ETF experts, James Seyffart and Eric Balchunas, recently asserted that XRP is not the leader in terms of which crypto asset is next in line after BTC and ETH to have its own exchange-traded fund. The duo placed Litecoin as well as Dogecoin ahead of it. Nevertheless, Ripple’s CEO, Brad Garlinghouse, remains an optimist as he has asserted multiple times that an XRP ETF is ‘inevitable.’ The post Ripple (XRP) ETF Edges Closer to Reality with New Milestone appeared first on CryptoPotato.