MicroStrategy currently holds 444,262 BTC, following a recent purchase of $561 million worth of Bitcoin. According to reports, MicroStrategy CEO, Michael Saylor, aims to add more Bitcoins worth $2 billion. It could trigger the BTC price to end the correction and propel it above the $100,000 mark.
The bullish BTC price turn will positively impact the crypto market, catalyzing the growth of many coins, including Ripple and DTX Exchange. XRP price is moving sideways after the parabolic run of November, while DTX has maintained the price momentum even in the correction phase.
BTC Price Potential Reversal at 50-EMA?
Bitcoin continues to solidify itself further as a market leader with new achievements. Recently, the BTC price reached $100k, shocking the finance world and injecting a bull rally into the market. However, in the last seven days, it has experienced a decline of 12% amid the market weakness. BTC price is currently trading above the 50-EMA, acting as local support in the short term. Also, a reversal could occur from here if it takes out the $100k resistance.
The BTC price Relative Strength Index (RSI) at 43 signals a fight between buyers and sellers, while further decline to the lower region of the index is possible. If the BTC price breaks through its immediate selling pressures, a surge to $120k may be the next target. The previous bull trend is likely to continue because Bitcoin is coming out of a multi-year consolidation.
XRP Price On the Verge of a $5 Breakout
After consecutive weeks of price rises, the XRP price has entered consolidation mode. For the last 3 weeks, it has been trading sideways inside the triangle pattern; the volatility is contracting inside the pattern, indicating a potential breakout soon. Demand for Ripple could pick up soon because of its rapid expansion in the global finance system and new launches like its recent stablecoin.
Ripple’s Chief Technology Officer, Joel Katz, highlighted the importance of the newly launched Ripple USD (RLUSD) stablecoin in reaching an all-time high (ATH). He explained the key benefits of RLUSD and how it is designed to support users, developers, and businesses. Katz emphasized that the stablecoin will be vital in driving innovation and usability within the Ripple ecosystem.
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The XRP price has risen by over 3.22% in the last 24 hours and is now trading above the $2.20 mark. Analysts note that the XRP price remains in an uptrend on the daily time frame, with strong support from the triangular pattern. If the XRP price stays above the lower support, the focus shifts to aiming for an all-time high.
DTX Exchange: Transforming the Future of Trading
With rapid scale and technological advancements, DTX Exchange is establishing itself as the best trading platform. DTX is the first hybrid trading exchange, allowing users to trade crypto, forex, stocks, and Exchange-Traded Funds (ETF) in one platform. The platform features unparalleled trading features and cutting-edge infrastructure to facilitate smooth trading operations.
This next-generation hybrid platform’s 1,000x leverage feature enables traders to significantly increase their trading potential. Security features like 2FA and cold storage protect users’ funds. The platform also has a non-custodial wallet, giving users full ownership of their assets.
DTX is a standout ICO of 2024, raising $10.52 million with strong investor interest and community backing. Due to its ability to revolutionize the entire finance sector, it is a compelling choice for investors looking for an alternative to major cryptos like Ripple. With DTX priced at just $0.12 in its 6th presale stage, it is expected to make an 8,400% gain once it lists on Tier-1 exchanges.
Find out more information about DTX Exchange (DTX) by visiting the links below:
Buy Presale
Visit DTX Website
Join The DTX Community
Source: https://www.thecoinrepublic.com/2024/12/25/microstrategy-prepares-for-next-2-billion-purchase-can-it-trigger-ath-for-xrp-and-dtx/