Ripple (XRP) gains almost 23% today as crypto market react to Gary Gensler announced step down, planned for 20 January 2025.
- Now investors expect that SEC will be ruled by pro-crypto chair, however we can assume that it will be not Robinhood CFO Gallagher, who told today that he is 'not interested in being considered for the US SEC Chair role'. Crypto market anticipates that Ripple will win in the court with the SEC and new US administration will probably be interested in increasing Ripple role as a global decentralized fintech company.
- CBOE Global Markets (CBOE.US) will launch the first cash-settled spot Bitcoin options product since next Monday, December 2. We can clearly see today that investors are choosing smaller cryptocurrencies as Bitcoin approaches $100k resistance zone. Bitcoin ETFs attracted almost $1 billion net inflows yesterday, close to an all-time record; as of now, BTC spot price is near $99k.
Source: XTB Reserach, Bloomberg Finance L.P.
Start investing today or test a free demo
Open real account TRY DEMO Download mobile app Download mobile appRipple and Bitcoin D1 charts
Current scale of Bitcoin price reaction since August 5 lows is close to September 2023 - March 2024 rally; almost $50,000 up in price. Again, a percentage number of short term Bitcoin holders in profit is near 100%; historically, according to on-chain Glassnode analysis, such periods (rising above ATH and searching for new record to stabilize and decline) usually date 22 days. As of 22 November, this phase is near this number.
Source: xStation5
Source: xStation5
The material on this page does not constitute as financial advice and does not take into account your level of understanding, investment objectives, financial situation or any other particular needs.
All the information provided, including opinions, market research, mathematical results and technical analyses published on the website or transmitted to you by other means is provided for information purposes only and should in no event be interpreted as an offer of, or solicitation for, a transaction in any financial instrument, nor should the information provided be construed as advice of legal or fiscal nature.
Any investment decisions you make shall be based exclusively on your level of understanding, investment objectives, financial situation or any other particular needs. Any decision to act on information published on the website or transmitted to you by other means is entirely at your own risk. You are solely responsible for such decisions.
If you are in doubt or are not sure that you understand a particular product, instrument, service, or transaction, you should seek professional or legal advice before trading.
Investing in OTC Derivatives carries a high degree of risk, as they are leveraged based products and often small movements in the market could lead to much larger movements in the value of your investment and this could work against you or for you. Please ensure that you fully understand the risks involved, taking into account your investments objectives and level of experience, before trading, and if necessary, seek independent advice.
