The cryptocurrency market is experiencing significant movements with Bitcoin (BTC) hovering around $66,000 and Ripple (XRP) surging close to 4% in the last 24 hours.
This comes amid the recent launch of Poodlana, a new meme coin on the Solana blockchain.
Ripple’s XRP emerged as one of the top-performing cryptocurrencies on Tuesday, with a notable gain of 3.66%. The surge comes as traders scrutinize recent Bitcoin transactions by the US government.
This large-scale movement led to a decline in Bitcoin’s price, which fell from $70,000 to $66,000. The market’s reaction was reminiscent of recent events involving the German government, which liquidated $5 billion in Bitcoin earlier this month.
Amidst this backdrop, Ripple (XRP) has gained renewed attention. Despite being a laggard in recent years, with a 12% decline over the past 12 months, XRP is showing bullish signals.
Meanwhile, Poodlana, a newcomer in the Asian market, has leveraged the region’s fascination with poodles to gain significant traction during its initial coin offering (ICO).
This article compares the price predictions of cryptocurrencies like Bitcoin, XRP and Poodlana.
Bitcoin price poised for rally if it beats $70,000 resistance
Bitcoin’s price recently tested the daily support level at $64,737 on July 25, followed by a 4% rally over the next three days. Currently, it faces resistance at the weekly level of $69,648. As of Tuesday, Bitcoin is trading slightly lower, down 0.88% at $66,463.
Should the daily support at $66,406 and the ascending trendline hold firm, BTC could potentially surge by 10% to challenge its June 7 high of $71,997.
However, a close below $62,736 or a breach of the ascending trendline could shift the market outlook from bullish to bearish, forming a lower low on the daily timeframe.
Such a development might trigger a 10% decline in Bitcoin’s price, potentially retesting its July 12 low of $56,405.
Source: TradingView
Ripple price eyes potential rally if it surpasses $0.643
XRP’s price recently tested the critical resistance level of $0.6370, its highest point since March.
A decisive break above this level could drive further gains, with buyers potentially targeting the significant resistance level at $0.7470.
This target represents the highest level of the year and is approximately 20% above the current price.
Source: TradingView
Poodlana token sale gains momentum
Poodlana, the latest entrant in the meme coin arena, is currently in its presale phase and is not yet publicly available.
This emerging Solana-based token aspires to surpass popular meme coins such as Dogecoin and Shiba Inu, offering a new twist on the meme coin phenomenon.
Named after the Poodle, a fashionable Japanese dog breed, Poodlana is set to have a total supply cap of 1 billion POODL tokens. The ongoing presale is offering 50% of this supply, with the remaining tokens allocated for marketing, partnerships, rewards, treasury, and liquidity.
Distinct from other token sales, Poodlana’s presale will last for just one month, followed by immediate trading beginning 30 minutes after the sale concludes. Post-launch, the developers plan a major marketing push to establish Poodlana as a leading meme coin in the market.
Poodlana has already raised $2.59 million, with this figure expected to rise. Interested investors can purchase POODL tokens through the official sale.
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