Zeehan _by Crypto

CRYPTO _BY_ZEEHAN

XRP comes under immense pressure, falling toward $2.09 as Israel and Iran escalate conflict.Ripple and the SEC file a joint motion requesting the release of $125 million held in escrow.The SEC would be paid $50 million as a settlement, with the remaining funds returned to Ripple.
Ripple’s (XRP) price is currently trading at around $2.14 at the time of writing on Friday as investors in the crypto market navigate the sudden spike in volatility triggered by geopolitical tensions in the Middle East. The sudden sharp price drop below support at $2.20, caused massive liquidations as the futures contracts Open Interest (OI) plunged.
The decline in the XRP price comes hot on the heels of the conflict between Israel and Iran. Israel launched an attack on Iran, targeting the country’s nuclear facilities, ballistic missile factories and military commanders on Friday, according to a report by Reuters. 
Iran immediately responded to the attack, launching drone strikes on Israeli territory, prompting Israel to declare a state of emergency. 
Ripple, SEC file joint motion to release $125 million held in escrow
Ripple and the United States (US) Securities and Exchange Commission (SEC) have jointly filed a motion in the US District Court Southern District of New York, requesting Judge Analisa Torres to dissolve the injunction in their ongoing case and move to release $125 million civil penalty held in escrow.
The two parties proposed in the motion that $50 million be paid to the SEC, with the remaining funds returned to Ripple, reflecting the settlement reached in early May. According to the filing, “if the Court issues the requested indicative ruling, the SEC and Ripple will move to the US Court of Appeals for the Second Circuit, for a limited remand to seek relief.”
The Court previously denied a Ripple-SEC joint motion on May 8, citing the failure of the two parties to address whether “exceptional circumstances” warrant a modification of the final Judgement, which had penalized Ripple $125 million for violating securities laws when the company sold XRP directly to institutional investors.
Meanwhile, institutional interest in XRP and related financial products continues to rise, as reported by FXStreet. Publicly listed companies, including VivoEnergy, Trident Digital Tech Holdings, Wellgistics Health, Inc., Webus International Limited, and Hyperscale Data Inc., have recently announced XRP-focused treasury fund strategies.
The cryptocurrency project, Ondo Finance, announced earlier this week the launch of its flagship Ondo Short-Term US Government Treasuries (OUSG) on the XRP Ledger (XRPL).
OUSG bridges the gap between Decentralized Finance (DeFi) and the traditional finance sector, allowing institutional investors on XRPL to seek exposure to short-term US Treasuries.
Technical outlook: XRP holds above critical support 
XRP’s price hovers at around $2.14 at the time of writing after a slight recovery from support at around $2.09, reinforced by the 200-day Exponential Moving Average (EMA).
This rebound remains uncertain, especially with the Relative Strength Index (RSI) falling below the 50 midline while remaining below the descending trendline, as shown on the daily chart below.
Key levels of interest likely to be relevant in upcoming sessions and going into the weekend include the descending channel’s middle boundary, currently acting as immediate support, and the 200-day EMA at $2.09, which could prevent losses from extending below the critical $2.00 level.

XRP/USDT daily chart
If the geopolitical situation in the Middle East improves and sentiment in the broader cryptocurrency market shifts, traders may consider buying XRP and contributing to the tailwind. A rebound from the current price level of $2.14 could reinstate the goal of a recovery targeting the hurdle at $2.34 and the seller congestion at $2.50, representing a 17% move from the prevailing market value.
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Crypto _By_Zeehan
Cryptos | 06/14/2025 18:57:57 GMT

SharpLink announced it purchased 176,270.69 ETH for a total of $462.9 million.The company has become the largest public company holding ETH, with 95% of its reserves deployed into staking.Ethereum could fall to $2,260 if it fails to hold the lower boundary of a key channel and the 50-day SMA.
Ethereum (ETH) maintained its decline on Friday, down 6%, despite SharpLink Gaming’s (SBET) announcement that it purchased 176,270.69 ETH for $462.9 million. The decline follows broiling Middle East war tensions after Israel struck strategic sites in Iran.
ETH slides amid SharpLink's $463 million purchase
Nasdaq-listed company SharpLink Gaming revealed in a press release on Friday that it has acquired 176,270.69 ETH for approximately $462.9 million, making it the world's largest publicly traded holder of ETH. The company made the purchase at an average price of $2,626 per ETH.
The acquisition comes from a mix of private placements and at-the-market (ATM) equity offerings.
SharpLink noted it has already staked over 95% of its acquired ETH, allowing it to earn yield while simultaneously contributing to the Ethereum network's security and decentralization.
"By allocating significant capital to ETH and deploying it in network activities such as staking, SharpLink is both contributing to Ethereum's long-term security and trust properties while earning additional ETH for that work," said SharpLink Chairman and Consensys CEO Joseph Lubin in the press release.
The purchase follows SharpLink's filing with the Securities and Exchange Commission (SEC) on Wednesday for the potential resale of over 58 million shares after a $1 billion offering in May.
Lubin stated in an X post on Thursday that many had misinterpreted the filing and that the company had sold no shares. He added that the filing was an "standard post-PIPE procedure" and not an indicator of actual sales.
SharpLink's stock is down 66% on Friday despite the ETH purchase.
The shift to an ETH treasury strategy occurs at a time of transition for the Ethereum network, with several recent developments in the cryptocurrency market directly impacting its ecosystem. Advancements in crypto regulations, real-world asset tokenization, and the SEC's positive stance towards decentralized finance (DeFi) all play a key role in this transformative process.
"Ethereum appears to be having its AWS moment — quietly but decisively establishing itself as the foundational settlement layer for on-chain financial infrastructure," Sui Chung, CEO of CF Benchmarks, told FXStreet. 
Chung stated that the SEC's recent stance on DeFi could act as a catalyst for institutions to begin gaining DeFi exposure. He added that these developments are transforming Ethereum into an "indispensable infrastructure," paving the way for on-chain financial systems.
"Ethereum is no longer just a 'crypto' story [...] It's about industrial-grade, programmable money systems. And Ethereum is leading the charge," Chung noted.
Despite the recent positive developments surrounding Ethereum and SharpLink's purchase announcement, ETH is still down on Friday as Middle East war tensions continue to weigh on the crypto market.
Ethereum Price Forecast: ETH could fall to $2,260 if it loses key support levels
Ethereum experienced $296 million in futures liquidations, comprising long and short liquidations totaling $239.09 million and $57.77 million over the past 24 hours, according to Coinglass data.
Since seeing a rejection near the $2,850 resistance, ETH has declined by about 12%, briefly moving below the $2,500 key level before finding support at the 38.2% Fibonacci retracement level near $2,450 on Friday.

ETH/USDT daily chart
If ETH fails to hold the $2,500 and 38.2% Fib retracement level, it could find support near the lower boundary of a key channel, strengthened by the 50-day Simple Moving Average (SMA). A decline below this level will send its price into the key range between $2,110 and $2,260, with the 100-day SMA just below it.
On the upside, ETH must move above the $2,850 resistance to begin an uptrend toward the $3,400 level.
The Relative Strength Index (RSI) declined below its moving average line and is testing its neutral level. Meanwhile, the Stochastic Oscillator (Stoch) is below its neutral level and trending toward its oversold region. A successful decline below these key levels in both indicators will fuel the bearish momentum.
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Crypto _by_Zeehan

Dogecoin extends its losses below $0.20 while RSI signals minor recovery chances. Shiba Inu's downfall records a new monthly low as selling pressure grows.   Pepe weakens as its market capitalization falls below $5 billion and the market price drops below the 200-day EMA.
Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) trade in the red as the broader market sell-off gains traction. With the rising supply in the market, the meme coins' market capitalization has dropped nearly 10% in the same period. Amid strong risk-off sentiment in the market, the technical outlook suggests a potential extended crash in DOGE, SHIB, and PEPE. 
Dogecoin risks an extended correction phase
Dogecoin, the leader in the meme coin segment, with a market capitalization of $26 billion, is down nearly 9% over the last 24 hours. Despite a recovery earlier this week, DOGE failed to surpass the 50-day Exponential Moving Average at $0.1976, resulting in the ongoing three-day crash accounting for over 15% decline from the $0.2067 high.
At the time of writing, DOGE trades at $0.1738, printing its third consecutive bearish candle with the lowest daily price recorded at $0.1698. If Dogecoin extends its falling trend, it could create a new low for the month by testing the $0.1624 support, marked by the swing low on May 6. 
The Moving Average Convergence/Divergence (MACD) indicator prolongs the declining trend after reversing from its signal line. A new wave of bearish histograms below the zero line signals an extension in the downtrend. 
The Relative Strength Index (RSI) at 37 reflects a sudden plunge in bullish momentum. Notably, the RSI suggests a potential higher low formation if DOGE reverses to form a double bottom pattern, resulting in a bullish divergence. 
However, a potential closing below $0.1642 could nullify the RSI divergence-fueled reversal in Dogecoin. In such a case, sellers could witness the meme coin retesting the $0.1422 mark, as marked on April 8.

DOGE/USDT daily price chart.
Conversely, Dogecoin flipping from $0.1642 might retest the 50-day EMA at $0.1976. 
Shiba Inu is in a steep declining trend 
Shiba Inu extends the bearish reversal after facing rejection on Wednesday from a key long-standing resistance trendline marked by peaks on December 8, May 10, and May 22. At the time of writing, SHIB is down 4% in the day, marking a new 30-day low at $0.00001138.
The momentum indicator mimics the segment leader, with the MACD indicator extending a declining trend as it reverses from its signal line. The indicator signals a sell call as a bearish histogram rises below the zero line. 
Further up, the RSI indicator plunges from the halfway line, suggesting a surge in bearish momentum. 
A daily close below the $0.00001150, a support last tested on April 16, could prolong the downfall to the $0.00001029 level, the year-to-date lowest trading price. 

SHIB/USDT daily price chart.
However, a potential reversal must surpass the 50-day EMA at $0.00001347, moving near the resistance trendline to reinstate a bullish trend.
Pepe risks breakdown of a key psychological support
Pepe is down over 20% from the weekly high at $0.00001362 in three consecutive days of weakness. The downfall breaches the 200-day EMA and risks a breakdown of the $0.00001037 level, the lowest trading price in June. 
A potential closing below the $0.00001037 could violate the psychological level at $0.00001000, suggesting a possible drop to the $0.00000900 support zone, last tested on April 26. 
The MACD indicator steps below the zero line from which new bearish histograms arise, suggesting that declining trend momentum is on the rise. Further up, the RSI indicator at 41 nosedives towards the oversold zone, aligning with the bearish outlook. 

PEPE/USDT daily price chart.
However, a potential bullish reversal from the $0.00001000 could test the 50-day EMA at $0.00001153. 
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Crypto _by_Zeehan

The cryptocurrency market claws back mid-week gains amid US tariff uncertainty.Bittensor bulls fight to defend $400 support and the broader trend within an ascending channel.Near Protocol's higher lows pattern in jeopardy as the price drops below 100-day and 50-day moving averages.Internet Computer downside vulnerability in focus as the MACD indicator signals bearish momentum.
The crypto market is mainly in the red on Friday, characterized by losses sustained over the past 24 hours after a United States (US) appeals court stayed the ruling that had blocked President Donald Trump's tariffs.
Leading Artificial Intelligence (AI) tokens, including Bittensor (TAO), Near Protocol (NEAR) and Internet Computer (ICP), showcase weakness alongside major assets such as Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP).
Market overview: Volatility spikes amid tariff uncertainty 
A federal court of appeals stayed the ruling that had nullified President Donald Trump's tariffs on Wednesday at the request of the Justice Department.
The ruling by the Court of International Trade said that the US Constitution grants Congress exclusive power to regulate trade with other countries and that this authority cannot be overridden by the President's emergency powers to safeguard the economy.
President Trump's tariffs will continue, at least for now, adding another layer of uncertainty. The focus could also shift to the reciprocal tariffs announced in April but delayed for 90 days to allow for negotiations. As the negotiation window narrows, doubt could creep in, spooking investors.
The Federal Reserve (Fed) has in the recent past warned that tariffs could have a lasting impact on the economy, particularly on inflation, despite President Trump calling for urgent interest rate cuts.
The release of the Personal Consumption Expenditure (PCE) Price Index data later on Friday could be a catalyst for high volatility heading into the weekend. This data on inflation offers cues into the general direction of Fed policy, especially on interest rates.
Bittensor, NEAR, ICP technical outlook: What's next as prices tumble
The intersection of AI technology with blockchain continues to garner significant attention, with tokens such as Bittensor, Near Protocol, and Internet Computer standing out. These three tokens combined account for nearly 33% of the crypto AI sector's market capitalization, which currently stands at $29 billion.
The largest AI token, Bittensor, boasts a market capitalization of approximately $3.6 billion. Powering the open-source protocol, which utilizes blockchain technology to create a decentralized machine learning network, is the native token TAO.
TAO hovers at around $408 at the time of writing, down almost 2% on the day. The uptrend within the ascending channel on the daily chart is under immense pressure. Should losses accelerate into the weekend, below the immediate $400 support, the path of least resistance will stay downward.
Notably, TAO sits above key moving averages, such as the 50-day Exponential Moving Average (EMA), the 100-day EMA, and the 200-day EMA, which are likely to offer support and absorb selling pressure. Key areas of interest on the upside include the supply zone around $467, which was tested as resistance on May 24, May 12, and in February, as well as the $500 level that was tested in January and December.

TAO/USDT daily chart
NEAR, the token powering the Near Protocol's high-performance blockchain for AI, decentralized applications, and intelligent agents, has lost almost 22% of its value following the recent rally to $3.38.
NEAR sits below the 200-day EMA currently at $3.49, the 100-day EMA at $2.93 and the 50-day EMA at $2.72. A higher low pattern, illustrated by the ascending trendline on the chart below, is at risk of breaking, which could accelerate losses. Key levels traders could pay attention to are the $2.00 area, 23% below the current market rate, and April's low around $1.81.

NEAR/USDT daily chart and ICP/USDT 4-hour chart
Meanwhile, Internet Computer's price is defending support at $5.00, following a sharp drop from the recent lower high of $5.56. The path of least resistance appears downward, underpinned by a sell signal from the Moving Average Convergence Divergence (MACD) indicator. 
This signal occurred on Thursday when the blue MACD line crossed below the red signal line, encouraging traders to sell ICP and contributing to the selling pressure. Beyond the support at $5.00, traders should pay attention to the areas around $4.68 and $4.44, which were tested as resistance and support in early May.
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The Chinese government has not only banned trading or mining of cryptocurrencies, but even individual ownership of digital assets like Bitcoin.
The cryptocurrency market on Friday experienced a significant decline, with a 61 billion dollar dip in total market capitalisation, partially due to new restrictions imposed by China on private cryptocurrency holdings.

China has imposed a fresh ban on cryptocurrency holdings according to a report by Binance. The Chinese government has not only banned trading or mining of cryptocurrencies, but even individual ownership of digital assets like Bitcoin.

Although the current situation is challenging, analysts expect that downward pressure will ease soon, says InvestX, a cryptocurrency and finance related website. 
Also Read: Crypto investor tortures Italian man for Bitcoin password in $30,000-a-month NYC apartment
The move by China has led to a general decrease in investor optimism and has caused panic selling that caused a drop in the markets. China has had a hardline approach to cryptocurrency in order to promote the use of the state-backed digital yuan.
With the ban on private crypto holdings, Beijing is tightening its grip on financial flows, potentially accelerating the adoption of its central bank digital currency (CBDC). 
Also Read: Who is John Woeltz? $100M crypto king kidnaps, tortures Italian man for Bitcoin password in NYC before dramatic escape
Meanwhile, the Trump administration's decision to favour tax cuts and lower tariffs have the potential to kick off another speculative frenzy in markets, reported Reuters, citing Bank of America.
This US economic strategy could incentivize traders to ditch bonds and start buying back into artificial intelligence and crypto trades, which would risk inflating a market “bubble."
US vice president JD Vance has advocated for the use of Bitcoin and other cryptocurrencies in order to build on its strategic advantages against China.
During a Bitcoin Conference in Las Vegas, Vance applauded President Donald Trump's executive order in March that created a strategic bitcoin reserve with tokens already owned by the government.

By Crypto _by_Zeehan

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Federal Reserve issues FOMC statement
Press Release
May 07, 2025
Implementation Note issued May 7, 2025
Decisions Regarding Monetary Policy Implementation
The Federal Reserve has made the following decisions to implement the monetary policy stance announced by the Federal Open Market Committee in its statement on May 7, 2025:
The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on reserve balances at 4.4 percent, effective May 8, 2025.As part of its policy decision, the Federal Open Market Committee voted to direct the Open Market Desk at the Federal Reserve Bank of New York, until instructed otherwise, to execute transactions in the System Open Market Account in accordance with the following domestic policy directive:"Effective May 8, 2025, the Federal Open Market Committee directs the Desk to:Undertake open market operations as necessary to maintain the federal funds rate in a target range of 4-1/4 to 4‑1/2 percent.Conduct standing overnight repurchase agreement operations with a minimum bid rate of 4.5 percent and with an aggregate operation limit of $500 billion.Conduct standing overnight reverse repurchase agreement operations at an offering rate of 4.25 percent and with a per‑counterparty limit of $160 billion per day.Roll over at auction the amount of principal payments from the Federal Reserve's holdings of Treasury securities maturing in each calendar month that exceeds a cap of $5 billion per month. Redeem Treasury coupon securities up to this monthly cap and Treasury bills to the extent that coupon principal payments are less than the monthly cap.Reinvest the amount of principal payments from the Federal Reserve's holdings of agency debt and agency mortgage‑backed securities (MBS) received in each calendar month that exceeds a cap of $35 billion per month into Treasury securities to roughly match the maturity composition of Treasury securities outstanding.Allow modest deviations from stated amounts for reinvestments, if needed for operational reasons."In a related action, the Board of Governors of the Federal Reserve System voted unanimously to approve the establishment of the primary credit rate at the existing level of 4.5 percent.
This information will be updated as appropriate to reflect decisions of the Federal Open Market Committee or the Board of Governors regarding details of the Federal Reserve's operational tools and approach used to implement monetary policy.
More information regarding open market operations and reinvestments may be found on the Federal Reserve Bank of New York's
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