Cryptocurrencies Price Prediction: Dogecoin, Binance Coin & Ripple – European Wrap 24 March
|For 20% gains, should you be a Dogecoin buyer at this level?
Dogecoin price has shed non-stop since October 2022. Now, this downtrend has coiled enough for DOGE to consider a breakout. The move, if successful, could kick-start a rally to immediate hurdles.
Dogecoin price set up four distinctive swing lows since creating a local top at $0.159 in October 2022. The downtrend has ranged between the buying climax at $0.0946 and the selling climax at $0.707.
Binance Coin price set to tank 12% as Chinese regulators probe Binance
Binance Coin (BNB) price is trading sharply lower this Friday as Chinese regulators have come out with harsh statements against Binance Coin and its KYC (Know Your Customer) rules. By law Chinese citizens are forbidden to hold crypto deposits since 2021, while experts in financial regulation have shared their concerns that Binance’s KYC and anti-money laundering efforts are easily thwarted. A regulatory crackdown by China could set the scene for multiple regulatory crackdowns in other parts of the world like the US and Europe.
Binance Coin price is already digesting the news that came out in early ASIA PAC trading. With price action already down over 2%, it has become clear that traders are on edge about what this could mean for the near term. A loss in trust in the Binance Exchange could spill over into BNB and batter the price action. A consolidation phase is being formed, and a bearish breakout looks granted.
How XRP whales are preparing for Ripple win against SEC
Ripple has garnered support from several experts and influencers on crypto Twitter in its legal battle with the US financial regulator, the Securities and Exchange Commission (SEC). Messari CEO Ryan Selkis expressed his support for the payment giant in a recent tweet.
The recent XRP accumulation by large wallet investors has supported the bullish thesis for the altcoin. Based on data from crypto intelligence tracker Santiment, large wallet investors in the XRP network holding between 100,000 and 1 billion XRP tokens have been consistently accumulating the altcoin since March 7.
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