Ripple’s recent price surge reflects robust bullish momentum, but a short-term consolidation correction seems imminent as market conditions signal an overbought state.

By Shayan

The Daily Chart

Ripple’s extended consolidation near the $0.6 threshold ended with an explosive 158% price rally, reclaiming the 100 and 200-day moving averages.

This price action signals a strong shift toward a bullish market. However, the rally reached a yearly high of $1.3, coinciding with a significant swing high from November 2021, a region filled with potential selling pressure.

The RSI indicator shows overbought conditions, suggesting that Ripple might be poised for a corrective consolidation. This phase is expected within the $0.9-$1.3 range as the market digests the recent rally and prepares for the next move.

The 4-Hour Chart

On the 4-hour chart, the impulsive rally brought Ripple to the $1.3 resistance zone, leading to a temporary rejection due to significant supply at this level. This rejection allows the market to cool off and gives participants an opportunity to realize profits.

The next likely scenario involves a retracement toward the $0.9-$1.0 region, with further correction targeting the 0.5 ($0.88) and 0.618 ($0.78) Fibonacci retracement levels.

This phase is essential to maintain a healthy uptrend and avoid overextension, setting the stage for the potential continuation of the bullish trend.

Billionaire investor Paul Tudor Jones has dramatically increased his stake in Bitcoin-related financial instruments.

According to a November 14 filing with the Securities and Exchange Commission (SEC), the 70-year-old owned $159.9 million worth of BlackRock’s IBIT shares as of September 30 through his company, Tudor Investment Group.

It marked a staggering 400% rise from the 869,565 shares the company stated in its Q2 submission on June 30.

Bitcoin’s Prominent Role in Tudor’s Portfolio

Tudor’s latest 13F filing revealed that the billionaire now holds 4,428,230 IBIT shares, which, according to industry analysts MacroScope, positioned BTC as the third-largest non-options holding in his expansive portfolio.

With a net worth estimated at $8.1 billion, the 70-year-old’s investment interests include allotments in SPDR S&P 500 ETF Trust (SPY), valued at $208 million, and $166 million in Nvidia (NVDA) shares.

However, given Tudor’s sharp rise in Bitcoin apportionment, MacroScope suggests that the cryptocurrency could now be the “largest reportable non-options position” in its portfolio, surpassing even the SPY and NVDA allocations.

The uptick also coincided with BTC’s relatively stable trading period over the summer months. The analysts noted that during that particular range-bound trading phase, major market players were actively buying into Bitcoin, and there was every probability that Tudor was one of them.

MacroScope also emphasized the filing’s importance, pointing out that hedge funds and asset managers usually closely monitor Jones’ investment moves due to his track record of timely and strategic market decisions.

His firm’s addition of $159.9 million worth of BTC-related shares reinforces a growing trend of respected investors embracing the number one cryptocurrency as a viable part of their diversified portfolio.

Recently, CryptoPotato reported that Wall Street giant Goldman Sachs had increased its digital asset position to more than $700 million, invested in various spot Bitcoin ETFs.

Long-Time Bitcoin Bull

Jones is no stranger to BTC. The hedge fund veteran has previously expressed his commitment to the cryptocurrency.

In May 2023, he explained his preference for the asset, claiming he would keep a “small” exposure to it since he liked the fact it had a fixed supply.

“It’s the only thing humans can’t adjust the supply in, so I’m sticking with it,” he told CNBC.

In October 2024, he endorsed BTC further, telling the same broadcaster that he was going long on the coin as well as gold and commodities, which he described as “ridiculously under-owned.”

His expanded position might help set a precedent for other hedge funds and investment firms that may have been on the fence about crypto. Some feel a 400% increase in holdings within one quarter not only indicates a shift in portfolio allocation but also a solid backing of Bitcoin’s potential.

Ethereum’s price action indicates a temporary consolidation phase following its rejection near the critical $3.5K resistance zone.

A pullback toward $3K (aligned with the 200-day MA) is forming, setting the stage for a potential bullish continuation in the mid-term.

By Shayan

The Daily Chart

Ethereum recently experienced heightened bullish momentum, climbing above the critical $3K resistance zone, which is now serving as solid support.

Staying above the 100-day and 200-day moving averages further strengthens the bullish outlook. However, the price faced rejection near the $3.5K resistance region, resulting in a corrective pullback toward the 200-day MA of around $3K.

This support area is crucial for Ethereum’s mid-term prospects. A successful pullback completion could pave the way for further price increases, targeting higher resistance levels.

The RSI reading of 62.26 indicates that Ethereum still has room to grow before entering overbought territory. The $3.5K resistance zone aligns with previous highs and supply regions, making it a critical threshold for the continuation of the bullish trend.

The 4-Hour Chart

On the 4-hour chart, Ethereum’s bullish momentum remains evident through its series of higher highs and higher lows. Following its impulsive rally, the price was rejected from the $3.5K resistance zone and is now consolidating near the $3K level.

This range aligns with the flag’s broken trendline, suggesting that the current pullback is forming as a healthy correction.

The RSI reading of 51.20 shows neutral momentum, signaling that Ethereum could consolidate further or attempt a new surge toward the $3.5K level.

A breakout above this resistance zone would reinforce bullish sentiment and increase the likelihood of Ethereum reaching new highs. However, a failure to hold the $3K support could indicate short-term weakness, requiring traders to monitor price action closely for further signals.

By Shayan

With Ethereum experiencing a retracement phase, futures market sentiment offers valuable insights into potential short-term fluctuations.

The funding rates for Ethereum futures have spiked significantly following the climb above $3K. This indicates increased buying activity in the futures market, reflecting strong demand and optimism among traders.

Despite Ethereum reaching new highs, the current funding rate levels remain significantly lower than those observed the last time ETH was trading at this price range earlier in the year. This discrepancy suggests that while demand is robust, the futures market is not yet approaching overbought or overly speculative conditions.

As a result, the current sentiment supports Ethereum’s potential to continue its upward trajectory in the coming months.