Monday started on a positive note for bitcoin as it jumped to a four-week peak of $64,800 before it was stopped and pushed south.

The altcoins are sluggish on a daily scale, at least the larger-cap ones. Many of the mid- and lower-cap alts have charted notable gains.

BTC Halted at $65K

Bitcoin had an eventful seven-day period, which started with a price retracement from $60,000 to under $58,000 last Monday. The landscape changed mid-week when the US Federal Reserve announced the first rate cut in over four years, with a reduction of 0.5%.

Following the inevitable volatility, the cryptocurrency went on the offensive and added over four grand by Friday morning when it briefly topped $64,000. It failed there at first and spent the weekend trading sideways around $63,000.

This Monday was different than the previous one, as the bulls attempted another leg-up that drove bitcoin to a four-week high of just under $65,000. However, the asset was stopped there and pushed south by nearly two grand.

It’s worth noting that the week ahead is also expected to be quite eventful for the entire market, and you can see why – here.

As of now, bitcoin’s market capitalization has risen above $1.250 trillion, while its dominance over the alts stands at 54% on CG.

Alts With Massive Gains

While most larger-cap alts sit quietly today, with minor gains from ETH, BNB, LINK, AVAX, and TRX or insignificant losses from SOL, XRP, and SHIB, the mid and lower caps have produced some impressive increases.

Bittensor’s native token leads the pack with a 15.5% daily surge. Moreover, TAO has skyrocketed by 80% in the past week and trades at around $550 now. IMX, RENDER, AAVE, WLD, and NEAR are the other notable daily gainers.

IMX also finds a spot in the top performers on a weekly scale, with a 45% surge, followed by SUI (40%) and APT (30%).

The total crypto market cap has added around $20 billion since yesterday and is now at $2.320 trillion on CG.

TL;DR

• XRP has been on an uptrend recently, with analysts predicting a potential sharp rise, possibly reaching $0.66 soon.
• Volatility is expected due to the ongoing Ripple v. SEC case, with the agency’s decision on whether to appeal the ruling still pending.

‘I Think XRP is Ready’

Ripple’s XRP gained momentum in the past two weeks, witnessing a price increase of around 10%. It briefly reclaimed $0.60 several hours ago before settling at the current $0.58 (per CoinGecko’s data).

According to some analysts, XRP may soon make the headlines with a mind-blowing rally. One example is the popular X user Bitlord, who thinks the token is ready to experience a “parabolic explosion vertically“ in the following hours.

“The amount of hate XRP gets is phenomenal Fact is, last time I called ripple it moved a few billion. Topped it too. Now I’d like to see that party start up again,“ they added.

The Great Mattsby contributed too, finding similarities between XRP’s late performance and Tesla’s (TSLA) performance during the 2010s. During that decade, the valuation of the stock skyrocketed from less than $2 to as high as $30. The EV giant continued its uptrend in the following years, and currently, TSLA shares are worth nearly $240. This is an interesting comparison, to say the least, given that both assets have literally nothing in common. 

For their part, Dark Defender claimed XRP could be on the verge of spiking to $0.66. “Jan-2018 Resistance will be eliminated above $1.03, yes, exactly that point, interesting,“ the trader added.

Volatility Ahead Based on the Ripple v. SEC Case?

The price of XRP may see further ups and downs in the following weeks due to potential developments surrounding the lawsuit between Ripple and the US Securities and Exchange Commission (SEC). 

The legal battle is in its final chapter after Judge Torres ruled in August that the company’s sales of XRP on secondary markets to retail investors did not constitute securities transactions. However, she ordered Ripple to pay a $125 million fine for violating certain laws. 

The amount represents a 94% deduction on the amount initially requested by the regulator. As such, an appeal from Ripple’s side is highly unlikely. Moreover, CEO Brad Garlinghouse and CLO Stuart Alderoty said the firm will respect the court’s decision. 

The SEC, though, might contend with the ruling. While the deadline for such a move is October 7, the agency remains silent on whether it will pursue that path.

Ethereum has recently seen a surge in demand near the crucial $2.1K support zone, resulting in a significant bullish retracement. The price has now reclaimed the middle threshold of the multi-month descending channel, suggesting the potential for further gains toward the upper boundary near $3K.

By Shayan

The Daily Chart

On the daily chart, Ethereum experienced increased buying pressure near the critical support region around the lower trendline of the multi-month descending channel, which aligns with the $2.1K support zone.

This resurgence in demand triggered a bullish reversal, pushing the price above a critical resistance area that includes the channel’s middle boundary at $2,530 and $2.5K. Reclaiming this zone signals a potential shift in market sentiment toward bullishness, albeit temporarily.

However, Ethereum is approaching a crucial barrier of around $2.8K, where sellers will likely step up. The price action at this level will be pivotal in determining Ethereum’s medium-term direction. A successful breakout could signal the continuation of the bullish trend, while failure to clear this resistance may lead to renewed selling pressure.

The 4-Hour Chart

On the 4-hour chart, Ethereum saw a strong surge from the $2.1K support zone, corresponding with the flag pattern’s lower boundary.

This upward momentum carried the price toward the critical resistance range between the 0.5 ($2.6K) and 0.618 ($2.8K) Fibonacci levels. The short-term action suggests that the bearish momentum has subsided, with buyers now attempting to push the price above the $2.8K resistance.

The $2.8K level has been a strong barrier for the bulls in recent months, filled with supply and selling pressure. However, Ethereum could see a breakout if the momentum persists, leading to a short-squeeze and further gains.

On the other hand, a rejection at this crucial resistance may result in a continued sideways consolidation within the flag pattern, maintaining short-term uncertainty.

By Shayan

As Ethereum’s price continues to form higher highs and lows, approaching the $2.8K level, insights from the Binance liquidation heatmap provide valuable context for this movement. The ETH/USDT heatmap highlights significant liquidity pools often targeted by larger market participants or so-called “smart money.”

According to the heatmap, the $2.8K level contains the highest concentration of liquidity near Ethereum’s current price. Liquidity tends to act as a magnet for price, drawing the market toward these pools. As a result, this zone has become a key short-term target for Ethereum.

Given this dynamic, a bullish continuation toward the $2.8K level is highly likely driven by the market’s tendency to gravitate toward high liquidity areas. This makes the $2.8K price range a critical area to monitor, as a potential breakout above this level could signal the continuation of Ethereum’s current upward trend.