XRP ETF Approval Odds Revealed by Bloomberg, Shiba Inu on Verge of Ultra Rare Golden Cross, Dogecoin Records 500 Million Breakthrough: Crypto News Digest by U.Today
2025-02-12
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U.Today has prepared the top three news stories over the past day.
XRP ETF approval odds revealed by Bloomberg
Bloomberg's senior ETF analyst Eric Balchunas and his team have assessed the approval odds of several altcoin ETFs. Currently, the likelihood of an XRP ETF receiving approval this year is estimated at 65%, which is the lowest among major altcoins with spot ETF proposals in the U.S. The SEC's current classification of the Ripple-affiliated token as a noncommodity significantly diminishes its odds. In comparison, a Solana ETF has a 70% chance of approval; despite SOL also being deemed an unregistered security, the asset's chances were bolstered by the SEC's acknowledgment of Grayscale's Solana ETF proposal. The highest approval odds belong to Litecoin ETF proposals, 90%, as the SEC likely considers LTC a commodity. Notably, Dogecoin is also seen as more likely to secure approval than XRP and Solana.
Shiba Inu SHIBUSD on verge of ultra rare golden cross
Shiba Inu has been the center of attention recently, as a golden cross was spotted on the weekly time frame. This technical indicator historically signals strong bullish momentum. The last time this golden cross pattern was seen on the charts was nearly a year ago, in February 2024, which led to a remarkable 377% price surge in March. However, while such patterns can suggest potential upward movement, they do not guarantee future performance, as market forces, investor sentiment and macroeconomic conditions remain unpredictable. SHIB enthusiasts are now carefully watching SHIB's trajectory, as the golden cross may indicate a significant rally or merely a short-term spike in price. At the moment of writing, SHIB is changing hands at $0.00001595, up 0.62% over the past 24 hours, per CoinMarketCap.
Dogecoin DOGEUSD records 500 million breakthrough: What's happening?
Recent developments in Dogecoin indicate a potential recovery, as evidenced by a surge in trading volume and a breakthrough of the 200 EMA. Although the trading volume remains moderate, it might be enough to trigger a significant rally in the near future. Currently, DOGE is testing the crucial $0.26 level, with a sustained move above this threshold potentially leading to further gains toward the next resistance at $0.30. However, the asset faces significant resistance from the 50-day and 100-day EMAs, which have recently acted as barriers to upward movement. Investors should monitor the $0.28-$0.30 range closely, as a daily close above $0.28 could confirm a bullish breakout, while a decline below $0.24 may signal a return to bearish conditions and would probably also result in a retest of the $0.22 level.