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cointelegraph.com Mar 12, 2025 14:18

Why is XRP price up today? - XRP (XRP) pared some losses following this week’s market crash, with 6% daily gains over the last 24 hours to trade at $2.24.The top-ten altcoin trades 18% above the 24-hour low of $1.89 as the crypto market sentiment recovers slightly.XRP/USD daily chart. Source: Cointelegraph/TradingViewLet’s examine the key drivers behind XRP’s rebound today.Franklin Templeton’s XRP ETF filingOne of the primary catalysts behind today’s XRP price surge is Franklin Templeton’s filing of an XRP ETF in the United States.đŸ”„ JUST IN: Franklin XRP Trust Files S-1 With the SEC for an XRP ETF on Cboe BZX. pic.twitter.com/B6oo3e5k0d— Cointelegraph (@Cointelegraph) March 11, 2025Key takeaways:On March 11, California-based asset manager Franklin Templeton filed an S-1 registration form with the US Securities and Exchange Commission (SEC) to launch a spot XRP ETF. Franklin Templeton is a major global asset manager with $1.5 trillion in assets under management.It joins a growing list of financial giants like Bitwise, Grayscale, and WisdomTree in pursuing XRP-based ETFs. This filing signals a strong vote of confidence in XRP’s potential as a mainstream investment vehicle.The news has fueled speculation of major capital inflows that could push XRP price into double digits. “Franklin Templeton has filed the 17th XRP ETF, which alone has $1.53 trillion USD under their asset management,” said pseudonymous XRP analyst Dark Defender in a March 12 post on X.“Just imagine when all are approved. Double digits for XRP will be as easy as a pie.”Meanwhile, the odds of a US spot XRP ETF being approved in 2025 are now at 76% on Polymarket.XRP ETF approval odds on Polymarket. Source: PolymarketIf approved, it would boost XRP’s credibility and could draw billions of dollars in capital inflows, according to JP Morgan. Despite the SEC delaying decisions on other XRP ETF applications, such as those from Grayscale and Canary Capital, until May 2025, Franklin Templeton’s entry—given its size and reputation—has boosted market confidence, contributing to XRP’s price rebound.MVRV metric suggests XRP price bottomBeyond external catalysts, onchain data provides a compelling case for XRP’s price recovery. Key points:Metrics like the Market Value to Realized Value (MVRV) ratio indicate that XRP may have bottomed.The MVRV ratio compares XRP’s market cap to the value of coins at their last transaction, offering insight into whether the asset is overbought or oversold.Data from Santiment shows XRP’s 30-day MVRV ratio has plunged to a low of -16%, the lowest since April 2024.XRP 30-day MVRV. Source: SantimentThe chart above shows it inside a zone typically associated with accumulation, suggesting that selling pressure has subsided.Historically, XRP usually experiences a reversal whenever the 30D MVRV declines below 10%.XRP price eyes V-shaped recovery to $2.64XRP’s price action has been nurturing a V-shaped recovery chart pattern on the four-hour chart since March 6, as shown below.A V-shaped recovery is a bullish pattern formed when an asset experiences a sharp price increase after a steep decline. XRP appears to be on a similar trajectory and now trades below a key supply congestion zone between $2.30 and $2.45, where all the major simple moving averages (SMAs) are currently sitting.The bulls must now push XRP above this area to increase the chances of the price rising to the neckline at $2.64 to complete the V-pattern.Completing the V-shaped recovery would result in 20% gains from the current price.XRP/USD daily chart. Source: Cointelegraph/TradingViewThe relative strength index has risen from oversold conditions at 27 on March 10 to 44 on March 1, suggesting that bullish momentum is picking up.$XRP is among the strongest charts amid the sell-off Daily bullish divergence It will run massively as the market begins to recover. pic.twitter.com/iIw6UlIDuF— Mikybull 🐂Crypto (@MikybullCrypto) March 11, 2025This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

FOMO: 90%
cointelegraph.com Mar 12, 2025 12:56

Bitcoin’s next catalyst: End of $36T US debt ceiling suspension - Bitcoin’s next significant price catalyst may arrive this Friday as the United States debt suspension period comes to an end, potentially injecting fresh liquidity into markets and driving a price rebound.The US Treasury hit its $36 trillion debt ceiling a day after President-elect Donald Trump’s inauguration on Jan. 20. Treasury Secretary Janet Yellen announced a “debt issuance suspension period” beginning Jan. 21, which is set to last until March 14, according to a letter published on Jan. 17.Bitcoin (BTC) has dropped 22% during the two-month debt suspension plan, from over $106,000 on Jan. 21 to $82,535 at the time of writing on March 12, TradingView data shows.BTC/USD, 1-day chart since Debt suspension plan. Source: Cointelegraph/TradingView The resumption of government spending will bring a liquidity boost that may catalyze Bitcoin’s next rally, according to Ryan Lee, chief analyst at Bitget Research.“With in-hand cash, the demand for financial assets such as stocks and crypto can increase, and there may be a relief from ongoing volatility,” the analyst told Cointelegraph. “In such periods, we can expect a boost in the overall momentum, although many other factors are important to note.”Beyond global tariff uncertainty, “concerns such as inflation, interest rates and geopolitical issues remain unresolved,” Lee added.Considering that the debt suspension ends just two weeks after the White House Crypto Summit, a portion of the new liquidity may flow into cryptocurrencies, according to Aleksei Ponomarev, co-founder and CEO of crypto index investing firm J’JO.“Surges in liquidity have typically benefited Bitcoin and risk assets, and the end of the US debt suspension will be no different,” he told Cointelegraph, adding:“While the liquidity surge will undoubtedly drive market price movement, it is limited to short-term impact. The long-term trajectory of Bitcoin is, and remains, tied to institutional investments, ETF growth and regulatory clarity and implementation.”GMI Total Liquidity Index, Bitcoin (RHS). Source: Raoul PalHowever, Bitcoin’s right-hand side (RHS), which marks the lowest bid price someone is willing to sell the currency for, may still face a potential correction to near $70,000 until the end of the debt suspension period on Friday, based on its correlation with the global liquidity index.Still, the growing money supply could push Bitcoin price above $132,000 before the end of 2025, according to estimates from Jamie Coutts, chief crypto analyst at Real Vision.BTC projection to $132,000 on M2 money supply growth. Source: Jamie CouttsRelated: Bitcoin may benefit from US stablecoin dominance pushBitcoin price still limited by global trade war concernsWhile more global liquidity is an optimistic sign for Bitcoin, the world’s first cryptocurrency remains limited by global trade tariff concerns, according to James Wo, the founder and CEO of venture capital firm DFG:“While some may argue that retaliatory measures from tariff-imposed countries were already priced in, tariffs have a delayed economic impact beyond their initial announcement.”“Higher import costs and reduced corporate margins are likely to push inflation higher, forcing central banks to keep interest rates elevated for longer under a restrictive monetary policy,” he added.This may also tighten liquidity conditions, making risk assets such as Bitcoin “less attractive in the short to medium term,” Wo said.Related: Bitcoin reserve backlash signals unrealistic industry expectationsThe European Union introduced retaliatory tariffs on March 12, threatening a Bitcoin correction below $75,000 in the short term. This may occur temporarily due to Europe accounting for over $1.5 trillion of annual US exports.Despite the short-term correction concerns, most analysts remained optimistic about Bitcoin’s price trajectory for late 2025, with price predictions ranging from $160,000 to above $180,000.Magazine: SCB tips $500K BTC, SEC delays Ether ETF options, and more: Hodler’s Digest, Feb. 23 – March 1

FOMO: 85%