XRP holders anticipate free pass for Ripple after SEC decision to drop Ethereum probe
Ripple (XRP) holders debate the future of the altcoin on Thursday, which could be closely related to the US Securities and Exchange Commission’s (SEC) next step following its decision to end the investigation into Ethereum (ETH).
XRP edges up slightly on Thursday as the pro-Ripple community hopes for a similar treatment by the US regulator. XRP gained nearly 1% on Thursday, as seen on the daily chart. The altcoin is trading at $0.4963 on Binance at the time of writing, gaining nearly 1% in the past seven days but losing nearly 8% in the past 30 days.
Ethereum and Solana get support
The crypto market added 1% in 24 hours to $2.4 trillion, supported by positive momentum in Bitcoin (+0.9%) and interest in Ethereum (+2%). Top altcoins are mostly adding to the levels of the day before except for falling Solana (-1.6%), but it too has been rising over the last hours. Toncoin is adding 4.9% over a day and 14% in 30 days, second only to Ethereum (+16%) in the top 20.
Technically, Ethereum has already received its second support this month on the brief dip to the 50-day moving average. This looks like the market's commitment to the bullish trend that started last month. The news trigger for the rise was speculation about the likely start of trading in spot ETFs on the coin from July 2nd.
Maker primed for a 15% rally if successfully holds key support
Maker's (MKR) price trades on the backfoot on Thursday after surging 11% the day before, and it is likely to retrace its to key support. On-chain data reveals a buy-side liquidity sweep that cleared leveraged long positions and initiated new buys before MKR embarked on an upward rally.
Maker price broke above the descending trendline, drawn from joining the three swing high points from mid-May to mid-June, and rallied 5% from the breakout point on Wednesday.
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