CoinSpotMarket Update
Bitcoin Back Above $135,000 As XRP Rallies on Ripple Update
3 minutes
a month ago
3 minutes
a month ago
Bitcoin has returned above its 200-day moving average (MA) after closing below it earlier this week, an event that had not happened since mid-October. The 200-day MA is widely considered an important long-term momentum indicator that can act as dynamic support and resistance levels.
Historically, during bull markets, Bitcoin spends a significant amount of time trading above the three significant MAs, those being the 50-, 100- and 200-day MAs. The opposite is true during bear markets. The current scenario, where Bitcoin is neither trading above nor below all three of these levels, is reflective of the holding pattern the market arguably finds itself in.
The combined value of all real-world assets (RWAs) is now $29.5 billion ($18.7 billion USD), as per RWA.xyz. Of this total, the vast majority consists of private credit. Maple (SYRUP) and Curve.fi (CRV) are two examples of onchain projects that are active in facilitating private credit loans. (Learn more about RWAs.)
Brad Garlinghouse, the CEO of Ripple Labs—the technology company behind XRP (XRP)—said that its longstanding lawsuit against the U.S. Securities and Exchange Commission (SEC) has come to an end. The price of XRP rallied by nearly 10% shortly after Garlinghouse shared the news via a video update on X.
Since a leadership change in late January, the SEC has closed investigations into various crypto companies and took no enforcement action. Among these were Uniswap Labs, the company behind Uniswap, and NFT marketplace OpenSea. Some of these investigations had spanned multiple years.
