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11 11, 2024

BTC reaches a new all-time high near $81,800

By |2024-11-11T10:19:29+02:00November 11, 2024|Crypto News, News|0 Comments

  • Bitcoin’s price reaches a new all-time high of $81,846 on Monday, following a rally of over 17% the previous week.
  • Ethereum’s price is nearing its weekly resistance at $3,236, and a firm close above it would continue its rally.
  • Ripple price is approaching its daily resistance at $0.626; a close above this level could signal the continuation of its rally.

Bitcoin (BTC) reached a new all-time high of $81,846 on Monday, while Ethereum (ETH) and Ripple (XRP) are following suit and nearing their crucial resistance levels; a strong close above these levels could fuel further rally for both assets.

Bitcoin bulls eye for $83,000 

Bitcoin reached an all-time high (ATH) of $81,500 on Sunday last week after rallying over 17% following Donald Trump’s decisive victory in the US presidential election. At the time of writing on Monday, it reaches a new ATH of $81,846.

If BTC continues its upward momentum, it would extend the rally to retest its 161.8% Fibonacci extension level (drawn from July’s high of $70,079 to August’s low of $49,072) at $83,062.

The Relative Strength Index (RSI) stands at 78, trading above its overbought level of 70. Traders should be cautious because the chances of a price pullback are increasing. If RSI exits overbought territory, it would give a clear selling signal. Another possibility is that the rally continues, and the RSI remains above the overbought level.

BTC/USDT daily chart

However, if BTC closes below $78,000, it could extend the decline and retest its key daily support at $73,072.

Ethereum price is poised for a rally if it closes above $3,200 

Ethereum’s price broke above the daily resistance level of $2,820 on Thursday and rallied over 7.7% until Sunday, retesting its weekly resistance at $3,236. At the time of writing on Monday, it trades slightly below $3,182.

If ETH closes above the weekly resistance at $3,236, it would extend the rally by 9.8% to retest its July 22 high of $3,562.

The RSI stands at 75, trading above its overbought 70, like Bitcoin’s. 

ETH/USDT daily chart

ETH/USDT daily chart

If the weekly resistance continues to hold as resistance, ETH would decline to retest its next daily support at $2,820.

Ripple price shows potential for a rally ahead

Ripple price broke above the daily resistance level at $0.544 and its 200-day Exponential Moving Average (EMA) at $0.548 on Thursday and rallied over 6.3% in three days. As of Monday, it trades slightly above around $0.595.

If XRP continues its upward momentum, it could extend the rally to retest its daily resistance at $0.626. A successful close above this level could extend an additional rally of 4% to retest its July 31 high of $0.657.

The RSI stands at 70, around its overbought level. If the RSI tilts down, traders should be cautious because the chances of a price pullback increase.

XRP/USDT daily chart

XRP/USDT daily chart

However, if the 200-day EMA at $0.548 fails, XRP could extend the decline to retest its next key support at $0.488.

Bitcoin, altcoins, stablecoins FAQs

Bitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money. This form of payment cannot be controlled by any one person, group, or entity, which eliminates the need for third-party participation during financial transactions.

Altcoins are any cryptocurrency apart from Bitcoin, but some also regard Ethereum as a non-altcoin because it is from these two cryptocurrencies that forking happens. If this is true, then Litecoin is the first altcoin, forked from the Bitcoin protocol and, therefore, an “improved” version of it.

Stablecoins are cryptocurrencies designed to have a stable price, with their value backed by a reserve of the asset it represents. To achieve this, the value of any one stablecoin is pegged to a commodity or financial instrument, such as the US Dollar (USD), with its supply regulated by an algorithm or demand. The main goal of stablecoins is to provide an on/off-ramp for investors willing to trade and invest in cryptocurrencies. Stablecoins also allow investors to store value since cryptocurrencies, in general, are subject to volatility.

Bitcoin dominance is the ratio of Bitcoin’s market capitalization to the total market capitalization of all cryptocurrencies combined. It provides a clear picture of Bitcoin’s interest among investors. A high BTC dominance typically happens before and during a bull run, in which investors resort to investing in relatively stable and high market capitalization cryptocurrency like Bitcoin. A drop in BTC dominance usually means that investors are moving their capital and/or profits to altcoins in a quest for higher returns, which usually triggers an explosion of altcoin rallies.


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11 11, 2024

XAU/USD eyes more pain stepping into the US inflation week

By |2024-11-11T10:13:22+02:00November 11, 2024|Forex News, News|0 Comments


  • Gold sellers extend control below $2,700 early Monday as the US holiday could exaggerate price moves.
  • The US Dollar rally pauses despite firmer Treasury bond yields and China woes-driven tepid risk sentiment.   
  • Gold price looks to challenge critical $2,641 support as daily RSI pierces the midline from above.

Gold price has opened a new week on the back foot below $2,700, looking to extend its three-week losing streak. Rebounding US Treasury bond yields and China’s economic concerns offset a pause in the US Dollar( USD) upsurge, exerting additional downside pressure on Gold price.

Gold price kicks off the US inflation week on the back foot  

US Treasury bond yields stage a comeback in Asian trading on Monday after a dovish US Federal Reserve (Fed) interest-rate cut decision-led retracement late last week.

Meanwhile, the market’s disappointment with China’s 10 trillion yuan ($1.4 trillion) debt package and softening inflation raised concerns over the dragon nation’s economic prospects, rendering negative for Gold price. China is the world’s biggest Gold consumer.

China’s CPI rose 0.3% last month from a year earlier, slowing from September’s 0.4% rise and the lowest since June, data from the National Bureau of Statistics (NBS) showed on Saturday, missing a 0.4% increase estimated.

Further, investors remain wary of the more profound economic consequences of potential tariffs that US President-elect Donald Trump will impose once he returns to office in January of next year. This nervousness remains a drag on the bright metal even as USD buyers take a breather following the previous week’s relentless rise.

Gold traders also resort to position adjustments heading into the all-important US Consumer Price Index (CPI) inflation data due for release on Wednesday. However, a Veterans Day holiday in the US could exaggerate the Gold price action in the upcoming sessions.

Looking ahead, the broader market sentiment will play a pivotal role in influencing the value of the USD and the Gold price amid holiday-thinned trading conditions.

Gold price technical analysis: Daily chart

As observed on the daily chart, Gold price breached support at $2,673, the 61.8% Fibonacci Retracement (Fibo) level of the latest record rally from the October 10 low of $2,604 to the new all-time high of $2,790, as it witnessed a fresh leg down.

If the downside momentum gathers traction, sellers will attack $2,641 strong support again, which is the confluence of the 50-day Simple Moving Average (SMA) and the 78.6% Fibo level of the same advance.

The 14-day Relative Strength Index (RSI) points lower below the 50 level, having pierced that level from above on Friday. The leading indicator, therefore, suggests that more pain remains in the offing for Gold price.

On finding a solid foothold below the abovementioned critical support at $2,641, Gold sellers could flex their muscles toward the October 10 low of $2,604.

Conversely, Gold buyers need acceptance above the $2,700 barrier to test the healthy resistance at $2,718, where the 38.2% Fibo level and 21-day SMA converge.

A fresh uptrend would be initiated above that level as buyers aim for the previous static resistance near $2,745, where the 23.6% Fibo aligns.

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

 



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11 11, 2024

Ingredient Idol winners named for best-in-class ingredients

By |2024-11-11T08:48:08+02:00November 11, 2024|Dietary Supplements News, News|0 Comments


Ingredient Idol is the award competition that honors best-in-class ingredients in three health conditions. Held annually at SupplySide West, the contest this year focused on ingredients that target healthy aging, performance and women’s health.

More than 50 entries were received this year. This is indicative of an innovative marketplace for natural, functional bioactives that can power new product development in dietary supplements.

Three finalists in each of the three categories assembled on stage to give elevator pitches to a panel of three judges. The judges were Diana Morgan, VP of legal and regulatory for Nutrabolt and impresario for the What’s Up With Supps parties, David Foreman, R.Ph., formulation consultant known as The Herbal Pharmacist, and Doug Lynch, president of MarketWell Nutrition. They listened to the pitches, then peppered the contestants with follow-up questions, then huddled to decide the winners. All in all, a raucous, good-time event, which also included a special People’s Choice Award, bequeathed on the contestant who received the loudest applause from the packed house.

The finalists in the three categories were:

Aging:

Performance:

Related:We ate dog supplements so you don’t have to.

Women:

Watch the video interviews with the three winners. Following are their entrance dossiers for the three winners, judged on the three metrics of innovation, science and market potential.

Aging

FutureCeuticals

cognatiQ

Innovation: Healthy aging, particularly within the cognitive health space, is experiencing immense growth due to the popularity of the category. However, cognatiQ stands alone as the ONLY healthy aging ingredient that delivers the complete package- story, science, substantiation and efficacy -based on the following: 1) It’s the ONLY healthy aging ingredient derived from a well-known, vibrant red botanical food called coffee fruit rather than from some exotic herb or animal or synthesized molecule. This appeals to supplement companies looking to step into healthy aging while also protecting them with domestic and international patents on our product. 2) It’s the ONLY healthy aging ingredient derived from sustainably sourced, zero waste, coffee fruit (by-product of coffee manufacturing) that has been rescued (upcycled) and repurposed to help improve both people and the planet. 3) It’s the ONLY healthy aging ingredient clinically shown to significantly boost BDNF, a key neuroprotein known to decline as we age, by 143%. This neuroprotein is well-known in the research and science community as crucial for brain health support and cognitive function- giving people cognitive reserve. 3) It’s been clinically shown to induce measurable improvements in concentration, alertness, reaction time, and accuracy both within 60 minutes post ingestion and sustain those benefits over 28 days with daily use. Additional research showed participants felt improvement in energy levels and less fatigued after taking cognatiQ demonstrating that this unique, natural and non-stimulatory ingredient can deliver clinical efficacy the consumer can feel without the harsh side effects.

Related:2024 supplement trends  – Video

Scientific merit, safety and efficacy: CognatiQ is backed by 5 clinically researched studies supported by a development strategy that 1) identified activity of key brain biomarkers, 2) confirmed structural changes in neurophysiological pathways, and 3) demonstrated functional changes in brain performance both acute and over time. Study 1 and study 2 (bioactive benefits): Single 100 mg dose of CognatiQ showed increased blood levels of brain-derived neurotrophic factor (BDNF) by 143% over baseline within 60 minutes. BDNF is a key neuroprotein that plays a vital role in brain health, including maintaining the health of existing brain cells, supporting the growth of new neurons, and supporting overall cognitive function such as memory and learning. CognatiQ (coffee fruit extract) was also the only botanical to significantly increase BDNF vs other known chlorogenic acid, caffeine and coffee bean ingredient sources, establishing the novel activity of this material. Study 3 (structural benefits): Employed fMRI (functional magnetic resonance imaging) and MRS (magnetic resonance spectroscopy) during a pair of cognitive challenges to determine the underlying neurophysiological changes associated with cognatiQ supplementation. Results showed that cognatiQ increased activity and connectivity in regions of the brain involved in attention, focus, higher-order cognition and working memory. This brain activity, post 100 mg of cognatiQ, demonstrates that it crosses the blood brain barrier (BBB). Study 4 (functional benefits): Participants were subject to fatiguing cognitive working memory tasks through 28 days of supplementation. CognatiQ demonstrated positive effect on measures of cognition in as little as 7 days that persisted and increased through 28 days. Study 5 (functional benefits): Participants were subject to a series of working memory and cognitive tasks 1 hour post supplementation. CognatiQ demonstrated a significant improvement in accuracy and omissions rate, providing participants with elevated cognition, a sharper mind within 1 hour, and unlocked mental agility.

Related:10 booths at SupplySide West we just had to stop for a visit

Market potential: CognatiQ is fully soluble, stable and efficacious at a low dose of just 100 mg, making it versatile in a variety of supplement and functional food applications. CognatiQ is being used in a wide range of applications and delivery systems that include ready-to-mix and ready-to-drink beverages, capsules, tablets, gummies and functional bars/snacks. CognatiQ is on trend as brain health has manifested itself into markets including healthy aging, women’s health, sports nutrition, energy drinks, gamer products and brain-boosting foods.

Performance

Red Leaf Biologics

ReDaxin

Innovation: Truly new and innovative ingredients don’t come around often. ReDaxin is the product of a one-in-a-million (two million actually) natural adaptation in sorghum that is so dramatic the traditionally green sorghum leaves turn deep red from a bioactive transformation that accumulates a unique, powerful polyphenol complex throughout the whole leaf. Notably, sorghum is known to produce a rare and potent class of natural polyphenols known as 3-deoxyanthocyanidins, but these are produced in miniscule quantities in wild-type sorghums, meaning they’ve never been commercially available before. However, RedLeaf Biologics’ proprietary, non-GMO sorghum variety was discovered in 2010 at the University of Kentucky as a single plant in a two million plant hybrid research study designed to understand health properties of sorghum. This single plant had leaves that turned deep red as it dramatically increased the production of these 3-deoxyanthocyanidins and other beneficial polyphenols in the leaves. RedLeaf has spent more than a decade tracing that non-GMO adaptation to create a proprietary, true breeding sorghum plant, making the first commercially scalable source of these 3-deoxyanthocyanidin bioactives. RedLeaf works with U.S. farmers to plant this sorghum, then harvests and extracts the 3-deoxyanthocyanidin complex from the leaves to create ReDaxin, a truly unique ingredient for a variety of applications. ReDaxin’s versatility is due to its rare bioactive properties including the reduction of oxidative stress, anti-inflammatory effects, and immunomodulatory benefits to activate and prepare the immune system. ReDaxin comes from an entirely new biomass, is grown and produced exclusively in the U.S. using sustainable agriculture practices, and has been clinically validated to support exercise recovery.

Scientific merit, safety and efficacy: The first human clinical study on ReDaxin was completed earlier this year in the area of exercise recovery. The randomized, double blind, placebo-controlled study was conducted at the University of Kentucky and enrolled 29 recreationally active men between 18 and 35 years old across three study arms: placebo, 250 mg ReDaxin and 500 mg ReDaxin. The study utilized a delayed onset muscle soreness (DOMS) protocol and assessed participants over the 24-72 recovery period following exercise-induced muscle damage (EIMD). The primary muscle recovery endpoints were measurements of strength output (maximum voluntary isometric contraction – MVIC) and muscle soreness (pain pressure threshold – PPT). Secondary endpoints included measurements of muscle thickness, arm circumference and perceived recovery status. Both ReDaxin doses were shown to significantly increase the percent change in peak torque output during the recovery window compared to the placebo group, outperforming the placebo group by 4x (250 mg) and 5x (500 mg) and demonstrating greater strength recovery. Both ReDaxin doses showed significant increase in peak torque output during recovery, while the placebo group showed no significant increase during the same time period, demonstrating faster strength recovery. Both ReDaxin doses also significantly increased the muscle pain pressure threshold during recovery while the placebo group had no change, demonstrating decreased muscle soreness during recovery. This study is currently being prepared for submission for publication in a peer-reviewed journal.

Additionally, a cognitive health clinical study on ReDaxin is currently under recruitment at the University of Kentucky. This randomized, double blind, placebo-controlled study, enrolling 60 participants across the same three groups, is assessing cognitive function via neurocognitive assessments from the validated NIH toolbox, in addition to subjective questionnaire responses on a variety of topics including stress, mood, sleep and fatigue, and physical function. Additionally, blood biomarker analysis is being conducted on neurocognitive markers (BDNF, IFN-alpha), inflammatory markers (TNF-alpha, IL-1beta, IL-6, CRP) and immune system markers (IFN-gamma, IL-2, IL-4, IL-8, IL-10, IL-12, IL-13).

RedLeaf has also collected extensive in vitro data demonstrating that ReDaxin is a potent inhibitor of oxidative stress via upregulating Nrf2 expression, outperforming pure reference standards of other botanicals such as quercetin, resveratrol, ginkgo biloba and epicatechin. ReDaxin has also been shown to suppress the production of classic pro-inflammatory cytokines (TNF-alpha, IL-1beta, IL-6) by greater than 90% in induced macrophages, while simultaneously supporting both the innate and adaptive immune systems and guiding them towards their anti-inflammatory, “heal and repair” phases. Pro-inflammatory M1 macrophages respond to ReDaxin by repolarizing to anti-inflammatory M2 macrophages while activated T cells become regulatory T cells, which combat excessive inflammatory responses in the adaptive immune system.

Market potential: Natural products with all the features and benefits of ReDaxin simply do not exist. This is a truly novel biomass producing a class of polyphenols widely studied in academia but never before available at a commercial scale. ReDaxion exhibits potent bioactivity that simultaneously modulates inflammation, immunity and oxidative stress, with clinically validated results.

This is a water-soluble extract that is light-, heat- and pH-stable with a pleasant, tea-like aroma and flavor that does not require masking agents. This extract is free from any additives or carriers that is extracted using a clean label, aqueous process, from a crop that is grown exclusively in the U.S. using scalable, sustainable, row crop agricultural practices, and never leaves U.S. soil. It’s also certified non-GMO, kosher, halal, vegan, gluten-free, self-affirmed GRAS and produced in an SQF Level 2 facility. As a result, ReDaxin has already generated significant market interest from some of the biggest names in global nutrition and food and beverage, down to smaller, niche companies looking for their first hero ingredient. ReDaxin is already on the market in a dietary supplement blend capsule, an RTM recovery beverage sachet and as a standalone sports performance capsule. Additionally, it has been formulated into multiple products getting ready to launch in the coming months. Interested customers are utilizing ReDaxin’s numerous qualities to create gummies, RTD and RTM beverages, food and nutrition products in addition to capsules. RedLeaf also has an established research license with a leading specialty ingredient multinational to develop the extract for topical cosmetic applications.

Women’s health

Waleria Healthtech

Aspurus

Innovation: Aspurus stands out for its innovative, proprietary, clean-label extraction process of shatavari root, backed by human clinical research demonstrating its effectiveness in relieving key menopausal symptoms. Our full-spectrum shatavari (Asparagus racemosus) extract is standardized to 5% shatavarins, the main bioactive constituent. Aspurus offers the highest concentration of shatavarins, at a lower dosage, maximizing both potency and efficacy.

Scientific merit, safety and efficacy: Aspurus is backed by innovative research and deep-rooted expertise showcasing our commitment to providing effective, scientifically backed solutions for women. A gold standard clinical study was conducted to investigate the use of aspurus on 70 menopausal (peri, pre-and post) women. The study aimed to investigate the safety and efficacy of aspurus compared to placebo in the management of menopausal symptoms (hot flashes, night sweats, etc.) and regulation of the HPO axis. Link to Paper– Insilico Studies- Our in silico analysis of shatavarins’ binding activity with female hormones provides new insights into the multifaceted hormonal-balancing effects. Shatavarins, the primary phytoconstituents of shatavari, have high molecular weights and may interact with hormone receptors. We have conducted a molecular docking analysis for different shatavarins such as shatavarin I, shatavarin IV, shatavarin VI, shatavarin VII, shatavarin VIII, shatavarin IX and shatavarin X with different hormonal receptors such as estrogen alpha, beta and gamma receptor, progesterone receptor, FSH and LH receptors. The best docking conformations with the highest docking scores, specific interactions and bond formations, and the most important residues of the receptors were identified and reported. The study was successful in providing an initial comparative insight into the binding efficiencies of the shatavarins for different female hormonal receptors. Link to Paper

Under publication review / pre-clincial studies: This is a comprehensive biological assessment to understand the physiological, biochemical, cellular, molecular and genetic acceptability of aspurus by living organisms and animals. This study was done in two phases, the first phase considered the evaluation of mutagenicity cytotoxicity and genotoxicity of shatavari (Asparagus racemosus) root-extract formulation. In the second phase, the sub-acute toxicity analyses was done in Wister rats for the product formulation. We have filed a patent (pending) for our extraction process for enhancing shatavarins, the primary phytoactive constituent in our shatavari extract. We have conducted an in-depth bibliometric analysis considering the published literature data from 1967 to May 2024. This was consolidating all available literature on shatavari’s impact on women’s wellness. (Under publication review.)

Market potential: Aspurus addresses a significant consumer need by targeting the rapidly growing population of menopausal women, expected to reach 1.1 billion globally by 2025, according to the United Nations. Surveys from sources like Forbes, Menopause Matters and Google search trends highlight the increasing demand for natural menopausal remedies. In fact, one in three women now prefers natural alternatives to hormone replacement therapy (HRT). According to NBJ’s 2023 estimates, menopause-specific supplements currently account for 1% of the USA dietary supplements market, with sales projected to grow from $630 million to over $660 million by 2024. Women’s health as a sector is experiencing significant expansion, with a compound annual growth rate (CAGR) of 6.7%. With Aspurus tailored specifically to address women’s health needs, we are well-positioned to capitalize on this growing market. We offer a trusted, natural solution that merges time-honored ayurvedic wisdom with modern scientific research. Aspurus addresses a significant unmet need in the menopausal market while aligning with the growing consumer demand for natural and effective health solutions. Our company’s mission goes beyond financial success. We are committed to fostering economic empowerment for Indian women farmers, sharing profits to ensure Asprus reaches underprivileged communities in need of menopausal support. By focusing on women’s health, we aim to deliver effective solutions rooted in nature, improving the quality of life for women through the power of ayurvedic herbs. This gives us the potential to bring a holistic potential solution for this health concern to the U.S. market.





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11 11, 2024

NZD/JPY Forecast Today – 4/11: NZD consolidates (Chart)

By |2024-11-11T08:23:27+02:00November 11, 2024|Forex News, News|0 Comments

  • In my daily analysis of the yen related pairs, the NZD/JPY pair has caught my attention, due to the fact that we continue to bounce around 2 of the biggest moving averages that traders pay attention to.
  • This of course means the 50 Day EMA, and the 200 Day EMA. Both of these very crucial, and the fact that both of them are flat suggests to me that we are in fact essentially just consolidating a bit in order to try to sort out where to go next.

Further adding interest to this pair is the fact that we are in the midst of a symmetrical triangle, so we are almost certainly going to see some type of explosion in one direction or the other.

If we break to the upside, that could see a move to the ¥95 level, as the Japanese yen itself would probably be in trouble around the world.

On the other hand, if we were to break down from here, we could drop to the ¥89 level where we might be able to find some support. Either way, the fact that we are compressing the way we are does suggest that we are probably going to see some problems as far as volatility is concerned sooner rather than later.

Risk Appetite

The NZD/JPY currency pair is going to be very sensitive to risk appetite as the New Zealand dollar is considered to be a “risk on currency”, and of course the Japanese yen is considered to be a major “safety currency.” With this being the case, think you have to look at it through the prism of what the rest of the market is doing, because quite frankly if we see traders suddenly pick one direction or the other as far as whether or not risk appetite is picking up, then we could see an explosive move here.

 

All things being equal, keep in mind that you get paid at the end of every day to hold onto this pair, so I do favor the upside, but that of course assumes that we get some type of momentum play as well. In the short term, there are a lot of people out there taking advantage of the carry trade.

Not sure which broker to choose? We’ve made a list of the best forex brokers for you. 

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11 11, 2024

Four Big Crypto Entities Can Take XRP Price to $10

By |2024-11-11T08:18:15+02:00November 11, 2024|Crypto News, News|0 Comments

Four prominent crypto entities could trigger a significant rally for XRP, potentially taking the asset’s price to $10 per token.  

XRP has witnessed slight gains over the past few days after Donald Trump emerged as the winner of the just-concluded U.S. presidential election.  

XRP Gains Stability After Plunging 14% Amid SEC Appeal Notice 

Recall that XRP’s price crashed significantly after the SEC filed an appeal notice in the Ripple lawsuit last month as part of efforts to overturn Judge Analisa Torres’ verdict, which gave the company a partial victory. 

Before the filing, XRP was trading around $0.60 on October 2, when the SEC filed the appeal notice. However, the token’s price plummeted to $0.5102 the following day, marking a decline of around 14.96% in less than 48 hours. Since the October 3 plunge, XRP witnessed a slight uptick, currently trading around the $0.55 price range. 

Currently, XRP is up 6.4% over the past week, with the token changing hands at $0.5514. 

These 4 Entities Could Take XRP Price to $10 

Amid the recent uptick, several analysts expressed confidence about XRP’s potential to secure a spot-based exchange-traded fund (ETF). Over the past months, XRP has made significant strides towards getting an ETF, thanks to Grayscale Investments, Bitwise, Canary Capital, and 21Shares. 

These four companies have brought XRP an inch closer to having its own ETF, like other top cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH). 

As reported last month, Grayscale relaunched its XRP Trust, a closed-end fund that grants institutional investors exposure to the cryptocurrency. Following the fund’s launch, Grayscale revealed a four-stage growth cycle that could transform the XRP Trust into a spot ETF. 

One month later, the asset manager filed with the SEC to convert its Digital Large Cap Fund (GDLC), containing five cryptos like XRP, to a spot ETF.  

Prior to Grayscale’s filing with the SEC, crypto asset manager Bitwise had submitted an XRP ETF application with the regulator on October 1. The company first applied with the state of Delaware to launch an XRP ETF. A few hours after the Bitwise ETF filing appeared on Delaware’s Division of Corporations website, the company officially applied with the SEC to launch an ETF for XRP. 

Additionally, Canary Capital joined the list of companies seeking to introduce an XRP ETF into the market. On October 8, the investment company submitted an S-1 filing to the SEC, confirming plans to launch a spot-based ETF tied to XRP. 

Furthermore, 21Shares also applied to launch an exchange-traded fund for the seventh-biggest cryptocurrency by market capitalization. 

XRP ETF Could Take XRP to $10 

While it remains unclear whether the SEC would approve any of these applications, investors have debated how the fund could positively impact the token’s price. 

Some market observers assert that the product will likely attract institutional capital into the XRP ecosystem, boosting the token’s price to jaw-dropping targets, such as $10. 

With XRP currently trading at $0.5514, the token must surge 1,713% to reach the $10 target. At that price, a 100,000 XRP portfolio worth $55,140 today would soar to $1 million. 

XRP to $10 Predictions 

Even though the $10 prediction requires XRP’s price to increase by 1,713% from the current level to reach the target, many analysts believe the forecast is realistic. 

Last month, popular community figure General Radahn predicted that Grayscale’s relaunch of XRP Trust could potentially take the token’s price to $10. 

In August, widely followed market watcher EGRAG emphasized that XRP’s price could surge to $10.4 if Bitcoin clinches a target of $80,000. However, the analyst suggested that both assets must maintain a correlation of $0.00013 before the prediction could play out. 

In the same month, analyst Spectre left XRP enthusiasts stunned after they projected that the token would hit the $10 target in the 2024/2025 market cycle. 

Interestingly, Oliver Michel, the CEO of Frankfurt-based exchange Tokentus Investment AG, mentioned factors such as the Ripple IPO, XRP ETF, SEC lawsuit resolution, and growing adoption of the Ripple payments solution as catalysts that could take XRP’s price to $10 this year. Besides the widespread adoption of Ripple’s payment solution, the other three factors have yet to play out. 

Whether XRP hit the $10 price target in this market cycle remains to be seen. However, with Bitwise, Grayscale, Canary, and 21Shares interested in launching ETFs for XRP, combined with factors such as its legal clarity and increased use in cross-border payments, the token could hit the $10 target in the near future. 

It is imperative to note that nothing is guaranteed in the crypto world. Hence, this article is for informational purposes and should not be taken as investment advice. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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11 11, 2024

Explore The Brain Boosting Benefits Of Tea

By |2024-11-11T06:47:37+02:00November 11, 2024|Dietary Supplements News, News|0 Comments


Tea has long been cherished for more than just its comforting warmth and unique flavors; recent studies indicate it may play a significant role in improving brain health. With the fast-paced nature of modern life, the focus on maintaining cognitive health has never been more pressing. Particularly, green tea has been making waves due to its potential benefits as identified by several dietitians and researchers.

Among various options available, green tea shines due to its impressive profile of active compounds. According to Colleen Wysocki, M.S., RDN, green tea contains polyphenols, primarily epigallocatechin gallate (EGCG), which are antioxidants known for their brain-boosting properties. A systematic review suggests these polyphenols may bolster working memory as well as long-term memory, especially beneficial for middle-aged and older adults.



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11 11, 2024

Bitcoin Price Reaches $80k, Will BTC Continue To Rally?

By |2024-11-11T06:17:07+02:00November 11, 2024|Crypto News, News|0 Comments

Bitcoin price has reached a new all-time high, hitting $80,000 as of November 10, marking a milestone for the cryptocurrency.

This upward movement has pushed Bitcoin into what many analysts describe as the “price discovery” phase, where BTC’s future price trajectory is largely uncharted. However, market experts are divided on whether this rally will continue or if Bitcoin is primed for a correction in the near term.

Bitcoin Price Reaches New ATH At $80k

Bitcoin price climb to $80,000 has created an atmosphere of both excitement and caution within the cryptocurrency community. With 100% of Bitcoin wallet addresses now in profit, according to data shared by Ki Young Ju, CEO of CryptoQuant, many see this as a pivotal moment in Bitcoin’s price journey. 

“We often see a correction when the price reaches these levels,” Ju commented, hinting that major investors might start taking profits soon. However, should the bullish rally continue, BTC price may continue its rally towards $100k, according to a Bitcoin price prediction.

Image

The sharp rise in Bitcoin’s value has also triggered the “Extreme Greed” level on the Bitcoin Fear and Greed Index, which now stands at 78. Historically, this level of market sentiment often precedes price pullbacks as overbought conditions become more likely. Analysts warn that the intense bullish sentiment may soon invite selling pressure, especially if investors look to secure profits after significant gains. 

Open Interest Signal Strong Market Activity

Trading volume and open interest in Bitcoin derivatives have both surged alongside the recent price increase. Data indicates a 33.31% rise in trading volume, now totaling $78.12 billion, which suggests heightened interest and activity. Open interest, the measure of total outstanding derivatives contracts, has also increased by 4.16% to $48.78 billion.

This surge in trading volume, coupled with increasing open interest, often signals that new money is entering the market. 

BTC Derivatives Data (Coinglass)BTC Derivatives Data (Coinglass)
BTC Derivatives Data (Coinglass)

Many traders view this as supportive of the current uptrend, as it suggests a strong flow of capital backing Bitcoin’s price rise. However, some analysts warn that the combination of high volume and open interest can also precede volatility, as larger players may capitalize on market momentum to make strategic moves.

Will BTC Price Continue To Rally?

As BTC price breaches the $80,000 mark, technical analysts are keeping an eye on several key price levels. Immediate support is expected around the $75,000 to $76,000 range, which served as a recent resistance zone before Bitcoin’s breakout. If Bitcoin retraces, this level could act as a foundation for a potential bounce. Additional support may be found around the $70,000 to $72,000 area, where BTC consolidated for some time in prior trading sessions.

On the upside, the $80,500 level represents the first major resistance. Should Bitcoin break above this threshold, further resistance could emerge between $82,000 and $85,000. These levels align with historical highs and psychological milestones, where traders might again encounter selling pressure.

BTC/USD 1-day price chart (source: Tradingview)BTC/USD 1-day price chart (source: Tradingview)
BTC/USD 1-day price chart (source: Tradingview)

Market indicators are showing signs that Bitcoin may be reaching an overbought state. The Average Directional Index (ADX) stands at 33.14, indicating a strong upward trend. Typically, an ADX reading above 25 signifies a healthy trend, and the current level suggests robust momentum in Bitcoin’s price movement.

However, the Money Flow Index (MFI) is near the overbought range, currently sitting at 71.03. An MFI above 80 generally indicates overbought conditions, which can precede short-term corrections or consolidations. As a result, some analysts are warning that Bitcoin may experience a pullback or a period of sideways movement if buying momentum slows.

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Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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11 11, 2024

What’s Next For Dogecoin Price After 80% Weekly Surge

By |2024-11-11T04:16:17+02:00November 11, 2024|Crypto News, News|0 Comments

Bitcoin, the leading cryptocurrency, soared to a new all-time high of $80,100 on November 10, triggering a broader market breakout. While most major altcoins followed the same momentum, the meme cryptocurrency experienced a high-momentum rally driven by its inherent volatility and appeal among speculative traders. With an 80% weekly surge,  the Dogecoin price rallied to a 3-year high of $0.297.

By press time, DOGE price had traded at $0.26 with an intraday gain of 3.2%. According to Coingecko, the asset market cap holds at $38.4 Billion with a 24-hour trading volume of $12.7 Billion.

Can Dogecoin Price Break $0.15 by the End of October?

Since early September, the dog-themed memecoin Dogecoin witnessed a steady recovery, initiated at the bottom support of $0.091. The formation of fresh higher highs and lows backed by increasing training volume accentuates the buyers’ conviction to drive a sustained uptrend.

However, the cryptocurrency market experienced an accelerated recovery this week following Donald Trump’s victory as the 47th President of the United States. Thus, the Dogecoin price records a sharp $0.148 to $0.268, registering a growth of 80%.

An analysis of the weekly chart shows the massive green candle gives a breakout from the $0.228 neckline of a cup and handle pattern. This pattern begins with the “cup,” created by a rounded bottom following a decline, signifying a gradual recovery phase as selling pressure subsides and buyers return. The subsequent “handle” forms a brief consolidation or pullback near the resistance level, recuperating the exhausted bullish breakout.

If the breakout is sustained, the Dogecoin price prediction could target $0.4, accounting for a 53% potential surge. 

Dogecoin Price
DOGE/USDT -1d Chart

Whale Accumulation Signals Potential Trend Reversal for DOGE

According to Santiment data, whale wallets holding between 100 billion and 1 billion coins have significantly increased their accumulation, rising from 2.68 million coins to 30.56 million coins. 

This substantial increase highlights strong confidence among large investors in the asset’s long-term potential. Historical data shows whale accumulation has often coincided with major market bottoms, indicating a potential trend reversal for Dogecoin price.

Dogecoin (DOGE)Dogecoin (DOGE)
Supply Distribution | santiment

On the contrary, if the Dogecoin price fails to sustain above the C&H neckline, the sellers could strengthen their grip over these assets and prolong the sideways trend.

Frequently Asked Questions (FAQs)

Dogecoin’s rally was fueled by Bitcoin’s all-time high of $80,100, triggering a broader market breakout. The surge was further supported by the completion of a cup and handle pattern

If the breakout from the cup and handle pattern is sustained, Dogecoin’s price could target $0.40

Santiment data shows whale wallets holding between 100 billion and 1 billion coins have increased their accumulation from 2.68 million to 30.56 million coins. Such whale activity often signals confidence in long-term growth and aligns with market bottom signals, suggesting a potential trend reversal.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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11 11, 2024

$1K today could turn into $1M by 2025

By |2024-11-11T04:11:52+02:00November 11, 2024|News, NFT News|0 Comments


Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

Some lesser-known cryptocurrencies are showing signs of explosive growth, potentially turning small stakes into fortunes by 2025.

Could a modest investment today lead to massive gains in a few years? Certain lesser-known cryptocurrencies might hold the key. As the crypto market evolves, some low-priced tokens are showing signs of explosive growth. Discover which hidden gems could potentially turn a small stake into a fortune by 2025.

The CYBRO Presale is making waves in the DeFi world, reaching the sixth stage with nearly $4 million raised and a 300% price increase since launch. Positioned as a bold competitor among DeFi platforms, CYBRO offers unique advantages that set it apart from other altcoins on the market. With security audits from Assure DeFi and Certik, a solid security score, and listings on Blast Explorer and CoinGecko, CYBRO’s robust foundation provides investors with both confidence and transparency.

CYBRO’s use of AI-driven tools allows investors to build tailored portfolios that match their preferences and risk tolerance, making it an ideal platform for maximizing returns. Through the CYBRO app, users can access a wide range of yield-earning vaults, each carefully categorized by trust score, TVL, and APY, with average annual returns of 10%. This thoughtful design gives investors access to some of the most competitive returns in DeFi today.

CYBRO tokens offer extensive benefits, from reduced fees and cashback rewards to insurance coverage and regular airdrops. Additionally, CYBRO’s liquidity-focused tokenomics set it up for long-term market resilience, with 8% of the supply dedicated to liquidity. The presale offers investors a chance to acquire CYBRO tokens at 50% below the planned listing price, positioning early supporters for significant returns, with expert predictions pointing toward a potential 1200% gain in the coming year.

As CYBRO continues to rise, it’s poised to challenge major players and offer users a secure, high-potential avenue to maximize their crypto earnings. 

Bitcoin: The pioneer of decentralized peer-to-peer cryptocurrency

Bitcoin (BTC) is the first cryptocurrency, introducing blockchain technology to enable electronic cash without central authorities. It allows decentralized peer-to-peer transactions, operating on a distributed ledger across network nodes and eliminating the need for intermediaries like banks. Transactions are verified through mining, where miners solve complex puzzles to validate transactions and earn bitcoins as rewards. 

The system is designed to be resilient against fraud. Every 4 years, the Bitcoin network undergoes a “halving,” reducing miners’ rewards by half due to the capped supply of 21 million bitcoins. This finite supply and decentralized nature make Bitcoin a significant development in digital currency, offering potential for secure and transparent financial transactions.

Ethereum: Proof-of-stake blockchain powering DeFi, smart contracts, and fast transactions

Ethereum is a blockchain that uses a system called Proof-of-Stake. It’s known for programmable agreements called smart contracts and a large network of applications. It supports decentralized finance and uses tools like Arbitrum and Polygon to make transactions faster and cheaper. Ethereum introduced a type of token used in many applications for decision-making, utility, and storing value. 

Transactions need ETH to pay for fees. Since it was started by Vitalik Buterin, Ethereum has grown, changing to Proof-of-Stake with an upgrade called the Merge. Ether (ETH) is important to the system, allowing transactions, rewarding those who stake, and acting as an asset that can be traded and used as collateral.

Toncoin’s potential in the next bull run: A decentralized pos blockchain

Toncoin (TON) is the native cryptocurrency of The Open Network, a decentralized, open-source layer-1 blockchain. Supported by the TON Foundation and community enthusiasts, Toncoin operates on a proof-of-stake consensus model, enhancing network scalability and reliability. The project aims to provide fast, secure payment services with minimal fees and develop a comprehensive ecosystem featuring decentralized storage, services, DNS, anonymous networking, and efficient payment processing.

 As market trends favor scalable and secure blockchain solutions, Toncoin presents potential growth opportunities with its advanced technology and strong community support.

BNB: The cryptocurrency at the heart of binance ecosystem

BNB is the native cryptocurrency of the Binance ecosystem, launched in June 2017. It started as an ERC-20 token but now operates on Binance Chain and Binance Smart Chain. BNB is used for fee payments, token issuance, and transferring assets. It supports smart contracts through Proof-of-Staked Authority consensus, allowing users to earn rewards by staking. BNB’s utility goes beyond chain transactions. It offers fee discounts on Binance.com and can be used on third-party services. The supply of BNB is reduced regularly through quarterly burns. This aims to halve the initial supply of 200 million, which may enhance its value.

Conclusion

While established coins like BTC, ETH, TON, and BNB have shown growth, their short-term potential may be limited. CYBRO, a cutting-edge DeFi platform, offers investors unique opportunities to boost their earnings. Using AI-powered yield aggregation on the Blast blockchain, it maximizes returns. Features like high staking rewards, exclusive airdrops, and cashback on purchases enhance the user experience. Seamless deposits and withdrawals make transactions easy. With a focus on transparency, compliance, and quality, CYBRO stands out as a promising project. It has attracted strong interest from major crypto investors and influencers.

For more information, visit the official CYBRO website and join the community on X, Telegram, and Discord.

Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.





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11 11, 2024

XAU/USD drifts lower below $2,700 on firmer US Dollar

By |2024-11-11T04:10:23+02:00November 11, 2024|Forex News, News|0 Comments


  • Gold price loses ground to around $2,680 in Monday’s early Asian session. 
  • The strength of the USD undermines the yellow metal. 
  • The uncertainty surrounding global economic uncertainty, geopolitical risks might boost safe-haven flows, benefiting the Gold price. 

Gold price (XAU/USD) trades in negative territory near $2,680 during the early Asian session on Monday. The downtick of the precious metal is pressured by a stronger US Dollar (USD) due to Donald Trump’s victory. 

Meanwhile, the US Dollar Index (DXY), an index of the value of the USD measured against a basket of six world currencies, extends its upside to around 105.00, the four-month high. 
 
Trump’s victory has fuelled questions about whether the US Federal Reserve (Fed) may proceed to cut rates at a slower and smaller pace. This, in turn, boosts the Greenback and weighs on the USD-denominated Gold price. 

“This rally in the dollar and yields has put pressure on gold, which traditionally falls as real interest rates rise, reflecting reduced demand for safe-haven assets in the short term,” noted Matthew Jones, precious metals analyst at London-based metals trader Solomon Global. “However, from a longer-term, macro perspective, the future is ‘as good as gold,” added Jones. 

The upbeat US economic data on Friday contributes to the USD’s upside. The US Consumer Sentiment Index rose to 73.0 in November from 70.5 in October, according to the preliminary reading by the University of Michigan. This figure came in better than the market expectation of 71.0.

On the other hand, the global economic uncertainty and the ongoing geopolitical tensions in the Middle East might help limit the yellow metal’s losses. Israeli army Chief of Staff Herzi Halevi approved the expansion of the ground invasion of southern Lebanon, state broadcaster Kan reports.  

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

 



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