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Will XLM Pennant at $0.50 Prolong Its 3-Week Bull Run to $0.71?

Albert Brown
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Will XLM Pennant at $0.50 Prolong Its 3-Week Bull Run to $0.71?

The price of XLM pulls back after a 609% surge, retesting critical Fibonacci levels. Will the rally continue toward $0.71, or is there a deeper correction ahead? 

With the broader market witnessing a pullback, the Crypto Fear and Greed Index has dropped by 3.66% to 79. Despite the overall market remaining firmly in the ‘greed‘ zone, the pullback phase has caused a slight pause in the ongoing altcoin rally.

Stellar (XLM) witnesses a similar halt to the massive bull run and loses the psychological mark of $0.50. Will this pullback undermine the ongoing rally in the XLM price trend? Let’s find out.

XLM Rally Peaks at 600% Gain

In the weekly chart, the surge in XLM has resulted in three massive bullish and gulfing candles. The Stellar bull run began in early November with a 19% surge. It gained momentum in the second week with an impressive 81% jump. The rally topped in the third week with a staggering 175% rise.

Stellar Weekly Price Chart
Stellar Weekly Price Chart

Considering the opening and highest prices during the bull run, it extended from $0.090 to $0.63, resulting in a massive surge of 609% in just three weeks.

However, the higher price rejection quickly pulled the price down, and last week’s closing price settled at $0.5365.

With the bullish exhaustion kicking in this week, XLM has dropped by 8.12% and lost the $0.50 psychological mark. Currently, it is retesting the 61.80% Fibonacci level at $0.4666 with a lower price rejection and is trading at $0.4932. 

4-Hour Pennant Signals Hopes of a Prolonged Rally

On the shorter-term 4-hour chart, a bullish pennant is forming. The lower price rejection from the 61.80% Fibonacci level signals a strong demand area.

XLM 4-hour price chart
XLM 4-hour price chart

However, constant rejection from the overhead resistance line is keeping bullish growth in check. The RSI line shows no bullish divergence to support a double-bottom reversal and is inching closer to the halfway line.

Considering the weakness in the RSI and the pullback phase, the price could retest the 50% Fibonacci level at $0.3909. To provide additional support, the 50 EMA line is near this Fibonacci level.

On the flip side, a bullish continuation would face the next resistance level at $0.71.

Top Analysts Say Dogecoin is Getting Ready for $0.55 Target

Abdulkarim Abdulwahab
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Top Analysts Say Dogecoin is Getting Ready for $0.55 Target

While the Dogecoin (DOGE) upward momentum has stalled over the past few days, analysts remain confident about a resurgence.

Dogecoin has fallen 8% in the last 24 hours, currently trading at $0.3900. The bearish performance has weakened its weekly gains to just a 2.29% uptick. However, on the monthly timeframe, Dogecoin still boasts a 188% gain.

In a recent analysis on TradingView, market commentator MadWhale projected that Dogecoin is preparing for a major price surge to the $0.55 level, one of its highest points last seen at the peak of the last bull market.

While acknowledging short-term bearish movements and consolidation, MadWhale predicted a 37% price surge for DOGE. He highlighted a key support level identified through Fibonacci retracements, noting that Dogecoin broke through major resistance at the $0.3000 level, just above the 50% Fibonacci retracement.

Dogecoin chart
Dogecoin chart by MadWhale

Notably, DOGE has been trading well above this level despite the recent pullback.

MadWhale’s confidence in Dogecoin’s upward momentum is supported by growing trading volumes and increased social media influence. He believes the meme coin is in a position where it could record a more substantial rally when the bulls reemerge.

Other Analyst Views for Dogecoin in the Short Term

Meanwhile, in a separate commentary, analyst Bluntz suggested that Dogecoin’s current Wave 4 correction is complete. He noted that the coin has been in an upward, sideways “running flat” correction for the past two weeks, with many traders becoming bored and shifting focus to other opportunities. 

However, Bluntz emphasized that Dogecoin’s parabolic move is only just beginning. In his view, profit-taking should not occur until the price reaches at least $1.

Another analyst, Trader Tardigrade, shared a similar outlook for Dogecoin’s short-term performance. He pointed out that the recent daily candle closed with a retest of the Bull Pennant pattern.

He emphasized that the Bull Pennant target for Dogecoin remains at $0.85, which would mark an all-time high for the meme coin king.

Dogecoin Long-Term Outlook

On the longer-term outlook, market watchers like Ali Martinez are forecasting a speculative price surge of between 9,000% and 30,000%, similar to the gains seen in previous cycles. If this occurs, it could propel Dogecoin’s price well beyond $10. 

However, Martinez has also cautioned that a significant price correction of 40% to 50% may take place along the way to these ambitious price targets.

Investment Strategist Says Keep Buying XRP if XRP Holds This Level

Sam Wisdom Raphael
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Investment Strategist Says Keep Buying XRP if XRP Holds This Level

A notable market veteran and investment strategist has recommended that investors buy XRP but points out a critical level to exit the market.

Notably, his recent disclosure comes as XRP maintains strength amid a broader crypto market pullback. Over the past week, it has surged 30%, far outperforming other assets in the top 10 by market capitalization. 

Despite Bitcoin dropping below $95,000 and losing 3.61% over 24 hours, XRP held losses to just 1.73%, indicating relative resilience. Altcoins like Solana and Dogecoin saw steeper declines of 5.48% and 4.2%, respectively, while Ethereum is the only top-10 asset recording gains. 

Investment strategist and Mathematician Tunc Satiroglu shared an analysis supporting XRP’s bullish outlook. His 4-hour chart shows important price levels and indicators that could determine XRP’s near-term trajectory. 

XRP’s Range-bound Movements

The chart shows XRP trading within a range, primarily between the Fibonacci levels of $1.30 and $1.60. For context, XRP entered this region last week after breaching the $1 price territory two weeks back for the first time in over three years.

XRP initially spiked to a top of $1.63 on Nov. 23 before facing retracement. As it ranges between $1.30 and $1.60, Satiroglu confirms that the $1.30 is a major stop-loss level for investors. This implies that price dips below this level could signal a bearish reversal. 

XRP 4H Chart Tunc Satiroglu
XRP 4H Chart | Tunc Satiroglu

Conversely, $1.60 is the primary resistance level. Breaking above this zone would likely propel XRP higher, allowing XRP to aim for the $1.7 region, with a subsequent push possibly eyeing $1.96. Market veteran Peter Brandt expects an explosive surge once $1.96 clears.

XRP Indicators Show Mixed Momentum

Meanwhile, Satiroglu’s recent chart shows parallel trend lines indicating a bullish channel, with XRP respecting these boundaries. The price has retraced from the upper channel and is currently consolidating. If it reclaims the upper channel, it may signal renewed bullish momentum toward higher Fibonacci extensions.

Interestingly, volume data reveals an increase in activity during upward price movements. This typically indicates strong buying interest. However, volume has recently lowered, suggesting waning enthusiasm, which might explain the price consolidation around $1.44.

Also, the stochastic suggests that overbought conditions have eased. The lines are trending upward after a recent crossover in the oversold region. This setup indicates there could be potential bullish continuation if buyers regain control.

Remarkably, on-chain data confirms a rise in whale accumulation. Santiment shows that whales holding between 1 million and 10 million XRP have accumulated 230 million tokens over the past week. Also, XRP investment products saw a 353% rise in inflow to $15 million last week.

However, it appears retail and smaller investors are selling off their bags amid XRP’s reawakening, contributing to the roadblock. At press time, XRP currently changes hands at $1.44, up 176% this month.

Hoskinson Questions Ripple and Cardano Exclusion from Wyoming Stablecoin Project, Calls for Legal Action

Mark Brennan
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Hoskinson Questions Ripple and Cardano Exclusion from Wyoming Stablecoin Project, Calls for Legal Action

Cardano founder Charles Hoskinson has cited bias in the Wyoming stablecoin’s network selection after the project snubbed notable chains like Cardano, Bitcoin, and Ripple.

The US blockchain adoption reached a new milestone as Wyoming announced it was launching the first fiat-backed, state-issued, fully reserved stablecoin. Wyoming’s stablecoin commission disclosed that the stablecoin—the Wyoming Stable Token (WST)—will debut on selected third-party vendors in 2025.

However, contentions emerged following the third-party vendors’ selection process after the commission overlooked notable networks. In a Monday podcast, Cardano founder Charles Hoskinson frowned at the disdain towards the Cardano and Ripple ecosystem, evident in the selection process.

Hoskinson Cites Bias in the Selection Process

The founder shared a mail he received from the Wyoming Commission highlighting selected networks after careful analysis by the blockchain selection working group. Notably, chains like Ethereum, Solana, Avalanche, Stellar, and Sui made the cut.

However, Cardano and Ripple were overlooked, with the commission citing that the blockchains didn’t meet specific chain requirements for supporting the WST. Hoskinson also mentioned that high-utility chains like Algorand, Tezos, Aptos, and even Bitcoin did not make the list.

As a result, Hoskinson argued that the selection process was opaque and lacked credibility. He also noted that it lacked public evaluation and was filled with conflict of interest as a small group consisting of Consensys and Circle ex-employees made the final decisions.

Furthermore, the founder emphasized the unfair process, disclosing that Ripple and Cardano were not allowed to bid, build, or participate in the WST project. As a result, the bias has given selected chains an unfair competitive advantage.

Cardano Founder Cites Ripple’s Superiority Over Stellar

Hoskinson mentioned XRP’s esteemed prominence as an $84 billion ecosystem with over $12 billion in trading volume. He also stated that the XRPL also has an established payment settlement capability and tested compatibility with stablecoin amid the imminent launch of its native Ripple-USD (RLUSD).

Hence, the selection of Stellar over Ripple was contentious. Hoskinosn likened the scenario to picking Litecoin over Bitcoin, suggesting that it lacked logical reasoning.

Furthermore, Hoskinson insisted Bitcoin’s omission was also suspicious. He mentioned that the premier asset’s strong ties with Wyoming and its prospect as a Treasury reserve asset under the Trump administration made the oversight more illogical.

Cardano Founder Calls for Legal Actions

Meanwhile, Hoskinson urged the excluded blockchains to pursue legal actions against the WST commission. He insisted that the commission would not use taxpayers’ money to create an uneven competitive landscape among digital entities in the United States.

The Cardano founder also urged the XRP and Cardano communities to content the selection decisions. He also encouraged them to advocate for a transparent government procurement process and the inclusion of Cardano, Ripple, and Bitcoin on the list.

Furthermore, Hoskinsoin mentioned that the blockchain space should have zero tolerance for biased decisions and expects an improved process by next year. He insisted that the digital asset industry needs fair competition and open standards to thrive.

Top Model Says She Holds XRP, Vows to Take Stand for XRP 

Abdulkarim Abdulwahab
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Bri Teresi, a popular model with over 1 million followers on X, has declared her support for XRP and her decision to publicly advocate for the cryptocurrency.

In a recent conversation, Teresi revealed that she had been an XRP holder for some time but had kept her support private until now. She expressed frustration with the SEC’s handling of XRP and called for greater transparency, stating that it’s time to expose the corruption that has been hidden for too long.

“It’s time to use my platform to push for the truth. Transparency is overdue,” she tweeted.

The model shared these views amid the imminent release of the much-anticipated film XRP Unleashed, which, according to its promoters, exposes the corruption within the SEC, especially regarding XRP and the Ripple lawsuit that has impacted the market value of XRP over the past few years.

Calls for Elon Musk to Support XRP Documentary

Teresi called on Elon Musk to help amplify the XRP film by streaming it on his X platform. “Streaming XRP Unleashed on X would be a game-changer,” she said to Musk.

She added that this action would help spread the truth about XRP and uncover government corruption, a cause Musk is passionate about.

Paid to Promote XRP?

However, an X user challenged her by claiming she was being paid to promote XRP, calling the digital asset a “scam coin.” Teresi strongly refuted the claim, asserting that no one is being paid to promote XRP.

“XRP is not a scam coin,” she replied. “It’s about ensuring the right people see the corruption that has been hidden for too long.”

Moreover, Teresi emphasized that revealing the truth is the first step toward meaningful change. She highlighted that the crypto industry is entering a new era defined by transparency and accountability.

Notably, Fruition Productions, the team behind the XRP Unleashed film, has also stated that no one was paid for the project, noting that they self-funded it.

Financial Analyst Says XRP Army is Getting Louder

Abdulkarim Abdulwahab
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Prominent financial analyst Gary Cardone recently noted that the “XRP army is getting louder,” pointing to the increasing enthusiasm within the XRP community.

This comes as XRP continues to break past 2021 levels, trading above $1.40 at the time of writing. XRP has surged more than 190% in the last three weeks, sparking renewed interest in the crypto market, especially as it had previously been an underperformer.

Cardone also mentioned rising speculation that SWIFT, the global financial messaging network, is in talks to acquire or partner with XRP. This development, he suggests, is fueling the growing excitement among XRP enthusiasts.

Additionally, Cardone’s tweet highlighted Cardano’s rising influence, noting that the platform is not only carving out its own niche but is actively competing with major traditional financial institutions such as Visa, Mastercard, and even the International Monetary Fund (IMF). 

With its ambitious blockchain, Cardano aims to provide a scalable and sustainable solution for decentralized finance (DeFi), positioning itself as a challenger to traditional finance giants.

Notably, Cardano has recently become a standout performer in the crypto market. After a 216% surge this month, it has surpassed the $1 mark for the first time since 2022.

Gary Cardone Endorsing XRP and Cardano?

While Gary Cardone’s tweet expresses optimism about both XRP and Cardano, it’s unclear whether he is genuinely endorsing these assets or simply making a lighthearted remark. This ambiguity arose after a commenter pointed out that Cardone was previously a Bitcoin maximalist, questioning how he could now be promoting XRP.

Similarly, commenter John McClane noted that Cardone has long been known as a BTC maximalist, suggesting he typically isn’t interested in assets like XRP or Cardano. However, it seems that these protocols have now captured his attention.

Interestingly, Cardone himself responded to the comments, clarifying that his statements were intended as a joke.

Commenters
Commenters

Notably, Cardone has historically made jest of XRP and its community members. A few weeks ago, when XRP experienced a significant price spike, he humorously attributed the rise to “SWIFT testing a transaction,” poking fun at the frequent speculations of XRP enthusiasts.

Rumble to Invest $20 Million in Bitcoin as Part of Strategic Reserve Plan

Mark Brennan
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Rumble to Invest $20 Million in Bitcoin as Part of Strategic Reserve Plan

Rumble, a leading video and cloud services platform, plans to invest up to $20 million of its cash reserves into Bitcoin.

This move is part of the company’s broader strategy to diversify its treasury holdings and strengthen its presence in the crypto ecosystem.

 

In today’s news on bitcoin, Rumble CEO Chris Pavlovski emphasized Bitcoin’s potential as an inflation hedge, citing its resistance to the effects of excessive money printing. Pavlovski described Bitcoin as an excellent addition to Rumble’s treasury, aligning with the company’s belief in the cryptocurrency’s long-term value and adoption.

Rumble’s decision follows similar strategies employed by companies like MicroStrategy, Tesla, and Block, all of which have incorporated Bitcoin into their financial operations. Bitcoin’s impressive performance in 2024, with its price more than doubling and nearing the $100,000 milestone, has reinforced its appeal as an asset. Rumble also views this step as a way to bolster its reputation within the crypto community.

Rumble says its Bitcoin acquisition strategy will be flexible, with purchases depending on market conditions, trading prices, and liquidity needs. The company retains the ability to adjust or suspend the strategy as required.

The market reacted positively to the announcement, with Rumble’s stock price rising nearly 13% on the news, currently trading at $7.31. The company’s shares have gained 63% this year, driven by its growing user base and perceived alignment with pro-crypto policies under the current U.S. administration.

As reported by The Crypto Basic, On November 19, 2024, Rumble CEO Chris Pavlovski initiated a discussion on X (formerly Twitter) about potentially adding Bitcoin to the company’s balance sheet. He conducted a poll to gauge public opinion on creating a strategic Bitcoin reserve. MicroStrategy Chairman and Bitcoin advocate Michael Saylor responded affirmatively, offering to guide Pavlovski through the acquisition process.

Dogwifhat Spikes 5% as Robinhood Confirms Listing

Elendu Benedict
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Dogwifhat Spikes 5% as Robinhood Confirms Listing

Robinhood has eased into adding support for cryptos after announcing it has listed Solana-based meme coin Dogwifhat for trading.

The California-headquartered trading platform announced in a series of tweets on Monday that it has added support for dogwifhat (WIF). Robinhood first hinted at the listing after posting a picture of the famous wool hat associated with the token. Hours later, its CEO Vlad Tenev confirmed the support.

Robinhood Adds Support for WIF

Meanwhile, Robinhood has been busy on the listing front recently. Aside from yesterday’s WIF listing, the US-based platform has added support for Solana, XRP, and Cardano before sending Pepe to a new all-time high following its maiden debut.

Monday’s WIF listing brings the total crypto assets listed on Robinhood for US clients to 20. Prominent assets like Bitcoin, Ethereum, Dogecoin, and Shiba Inu are already available for trading for customers in the region.

Notably, Dogwifhat’s rise to fame has been one of the epic stories of the year. The meme coin moved from almost nothing earlier in the year to staring at the Las Vegas Sphere and hitting a market capitalization of over $3.3 billion.

Following the Monday listing, WIF surged to $3.57 in a few minutes. However, the meme coin has relinquished some gains but is still up 3.9% in the past 24 hours. At press time, WIF trades at $3.35, having gained 5% this morning.

Robinhood Easing Listing Standards

A few months back, Robinhood delisted notable cryptocurrencies like Solana, Cardano, and Polygon. The exchange based its move on regulatory unclarity around the tokens amidst a clampdown from the Securities and Exchange Commission (SEC).

However, the exchange has relisted the assets and seems to be going on a meme coin rampage with the recent PEPE and WIF support. Notably, the ease in listing standards has been evident as the regulatory clouds are clearing following Donald Trump’s win.

The US President-elect promised to ease regulatory tension around crypto assets and has already forced SEC chair Gary Gensler out of office. Notably, Trump has filled his cabinet with pro-crypto personalities, reassuring exchanges and digital asset firms that the days of regulatory tyranny are over.

‘XRP is Most Resilient Crypto Around’ as WisdomTree Files for XRP ETF in Delaware

Zabi
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‘XRP is Most Resilient Crypto Around’ as WisdomTree Files for XRP ETF in Delaware

WisdomTree files for an XRP ETF in Delaware, signaling growing confidence in cryptocurrency investments amid rising market optimism.

In XRP latest news, New York-based asset management giant WisdomTree, which oversees $113 billion in assets, has filed for an XRP Exchange-Traded Fund (ETF) in Delaware.

This preliminary filing marks the first step toward seeking approval from the U.S. Securities and Exchange Commission (SEC) as the firm expands its presence in the growing crypto market. 

XRP ETF
Image Source: https://x.com/EleanorTerrett/status/1861081346774310943

XRP ETF Landscape and Regulatory Context

WisdomTree joins major firms like Bitwise, Canary Capital, 21Shares, and Grayscale, all vying for XRP ETF approval.

Despite these applications, the SEC has yet to approve any XRP ETFs. This delay comes against the backdrop of Ripple’s partial legal victory in July 2023, where a federal judge ruled that XRP was not a security in retail sales.

However, the SEC filed an appeal on October 2, 2024, with decisions now expected in 2025.  

Analysts anticipate a friendlier regulatory environment following Donald Trump’s 2024 presidential victory and the impending departure of SEC Chair Gary Gensler in January 2025.

Trump’s administration has pledged to foster crypto and blockchain innovation, potentially paving the way for XRP ETF approvals and other crypto-friendly policies.  

WisdomTree’s Global Crypto Strategy

WisdomTree already operates XRP and Ethereum Exchange-Traded Products (ETPs) in Europe, offering spot price exposure. With its Delaware filing, the firm aims to replicate this success in the U.S.

Deaton on XRP

A Symbol of Resilience and Growth Amid ETF Momentum Renowned attorney John Deaton, a staunch advocate for XRP, recently lauded XRP endurance, stating, “Hate it or love it, XRP is the most resilient crypto asset around.”

 

This comment comes as XRP continues to gain momentum in the wake of significant developments, including its potential entry into the ETF space. With asset management giants like WisdomTree filing for an XRP Exchange-Traded Fund (ETF) in Delaware, XRP’s resilience is once again in the spotlight.

Despite regulatory challenges, including its ongoing legal battle with the SEC, XRP has not only survived but thrived, maintaining its relevance in the ever-competitive crypto landscape. Deaton’s remark underscores XRP’s growing institutional acceptance, especially as the ETF filings signal a new wave of optimism and potential for mainstream adoption.

XRP’s resilience, paired with increasing market opportunities, solidifies its role as a pivotal player in the blockchain-based financial ecosystem.

Expert Makes 3 Key XRP Price Predictions Following Gensler Resignation

Sam Wisdom Raphael
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Expert Makes 3 Key XRP Price Predictions Following Gensler Resignation

Rodney, a prominent crypto market analyst, has outlined bold XRP price prediction scenarios amid recent political developments. 

His projections take into account bullish developments such as Donald Trump’s presidential win, which is seen as a pro-crypto victory, as well as the confirmation from Gary Gensler that he would resign as SEC Chairperson next year.

At the time of his analysis, XRP traded for $1.43 amid a 172% monthly increase and an $81 billion market cap. According to the analyst, daily trading volumes reached $22 billion, indicating a rise in investor interest. 

This renewed enthusiasm follows the latest political events in the U.S. and Ripple’s partial legal victory against the SEC in mid-2023, which strengthened XRP’s position as a dominant altcoin despite years of regulatory challenges.  

Gensler’s Exit and Political Developments Boost Market Sentiment  

Rodney noted that Gensler’s resignation would mark a turning point for crypto regulation. Under his leadership, the SEC pursued lawsuits against multiple crypto projects, including Ripple, claiming XRP was sold as an unregistered security. 

These actions caused massive market disruptions, especially for XRP from late 2020 to 2021, with XRP’s price plunging by more than 50% and leading to its delisting from major exchanges like Coinbase. As a result, XRP missed out on the 2021 bull run.

However, the political scene is shifting. Donald Trump’s return to the presidency, alongside a growing bipartisan push for crypto adoption, has fueled optimism. 

Trump, a vocal cryptocurrency advocate, has promised to make digital assets an integral part of the financial system. Rodney believes this political backing, combined with Gensler’s impending departure, has created a bullish environment for XRP and other digital assets.  

XRP Road to Recovery  

XRP has long aimed to revolutionize cross-border payments, presenting fast and cost-efficient solutions for international money transfers. 

Despite regulatory hurdles, its resilience has kept it among the top ten cryptocurrencies for years. According to Rodney, Ripple’s partial victory in 2023, which challenged the SEC’s stance, set a legal precedent that emboldened the broader crypto industry.  

He stressed that this year, the entire cryptocurrency market has broken new records, surpassing a $3.2 trillion market cap. Bitcoin has also approached $100,000, and altcoins surged alongside meme tokens. XRP’s recent price action shows it is finally catching up after years of underperformance.  

XRP Price Prediction

Rodney outlined several scenarios for his XRP price prediction. If XRP reached Ethereum’s current market cap of around $400 billion, its price could rise to $6.98, representing a 4.9x increase. 

However, in an even more optimistic scenario, if XRP achieved Bitcoin’s $2 trillion market cap, it could skyrocket to $33, a 24x gain from its current price.  

For a more conservative outlook, Rodney suggested that XRP reaching a $600 billion market cap is plausible. This would place its price around $10. Such a development could be catalyzed by institutional adoption and broader utility in cross-border payments.  

The analyst emphasized that XRP’s ultimate value depends on its integration into mainstream financial systems. If adopted for its intended use case—facilitating international money transfers—it could achieve unprecedented growth.  

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