DeFi News Official TheBitTimes.com

After XRP crossed the critical psychological level at $0.60 and continued upward, an even stronger bullish movement could be in the cards for the fifth-largest cryptocurrency by market capitalization, judging by the detailed analysis of its previous price behavior. Indeed, the pseudonymous crypto market analyst Cryptoinsightuk observed that XRP had seen a “brilliant month ly close ” above $0.59 and that its moving average convergence divergence (MACD) indicator was about to cross the 0 line, “bringing momentum back to the bulls,” the expert said on November 1. XRP price action analysis. Source: Cryptoinsightuk Specifically, this crypto analyst has provided a possible target range between $0.8875 and $1.3617, the levels last witnessed on the digital asset’s charts in 2021, should the indicators continue to demonstrate positive signals for the price of the XRP token. Is $1.69 possible? Not only that, but the expert also explained that “the last time we had a month ly close in thi...

Bitcoin eclipsed $31,300 on Monday — a level that caps off the first six months of 2023, leaving the asset up roughly 89% on the year.  A 2%-plus bump on the day followed a confluence of various bullish factors for bitcoin (BTC) — from a banking crisis to an institutional adoption narrative that has more recently come in the form of spot bitcoin ETF applications.   The collapse of crypto exchange FTX created a lot of “forced selling” that likely would not have happened otherwise — creating a market bottom of sorts, according to Andrew Lawrence, co-founder and CEO of on-chain custody solution Censo Inc. “So, to some extent, the rise of BTC since then is partly related to something of a mean reversion,” he told Blockworks.  But more than that, a series of banking failures that began in March sparked concern around deposit safety. Some, Lawrence said, turned to bitcoin as a “bearer-asset hedge.”   Read more: Banking sector stumbles are boon for DeFi Participation in the asset clas...