XRP on Verge of All-Time-High Breakout, Per Bollinger Bands; Gensler's Next Move Revealed After SEC Exit; 18.24 Trillion Shiba Inu in 24 Hours: Crypto News Digest by U.Today
2025-01-30
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U.Today has summarized the top three important news stories over the past day, check them out!
XRP on verge of all-time-high breakout, Bollinger Bands signal
XRP is exhibiting signs of a potential breakout, as it recently surpassed the median of its Bollinger Bands on the daily time frame, priced at $3.067. This movement suggests a possible test of the upper Bollinger Band, which stands at $3.53; if achieved, XRP would establish a new all-time high, exceeding the previous peak of $3.40 set on Jan. 16. The Bollinger Bands serve as a volatility assessment tool for traders, and an asset's movement above the median typically indicates building momentum. Testing the upper band could point to further gains; if this scenario plays out, it would signal a continuation of the bullish trend. However, there remains a risk of a pullback; if XRP fails to maintain its position above the median, it could potentially lead to a decline toward the lower Bollinger Band at $2.42. The next few days will be crucial in determining XRP's trajectory, as its price behavior relative to the median will influence its future movement.
Gensler’s next move revealed after SEC exit
According to a recent X post by Fox Business journalist Eleanor Terret, former SEC Chair Gary Gensler has returned to the Sloan School of Management at the Massachusetts Institute of Technology (MIT) as a professor of practice after his tenure at the SEC. Gensler's work will include teaching and researching financial technology and artificial intelligence. The former SEC boss expressed his excitement and honor at returning to the esteemed business school. Given that Gensler previously taught courses on blockchain technology, there had been expectations that he might adopt a more favorable approach to cryptocurrencies compared to his predecessor, Jay Clayton. Nonetheless, Gensler's regulatory stance was characterized by enforcement, initiating new lawsuits against major cryptocurrency firms, including Coinbase.
18.24 trillion Shiba Inu in 24 hours, major price shift incoming?
Shiba Inu has registered notable trading activity over the previous 24 hours. Per data provided by CoinGlass, over 18 trillion tokens were committed in open interest, reflecting heightened investor interest. Specifically, 18.24 trillion SHIB tokens, valued at approximately $334.44 million, have been invested, indicating a strong belief among investors in a potential price surge. At the moment of writing, SHIB is trading at $0.00001892, up 4%, but still below the important $0.000020 level. However, investors remain optimistic about a possible price rally. The highest open interest activity was recorded on Gate.io, accounting for 81.03% of the total volume, while Bitget and OKX followed in lesser amounts. Some analysts believe that a recent update from Shytoshi Kusama, hinting at an upcoming "extremely powerful partnership," may have contributed to the increased open interest and investor optimism regarding SHIB's future price movements.