The crypto market was red as calmness returned after encouraging US data on initial unemployment claims. Numbers showed that claims fell by 17 000 to 233,000 in the last week. This was better than most analysts expected.
The market was on edge due to the elevated risks of recession. These figures calmed it down. The Dow Jones index rose by 550 pts in the US while S&P 500, Nasdaq 100, and the S&P 500 indices rose by 100 pts and 35 ppts, respectively. The US Dow Jones rose by 550 points, while the S&P 500 and Nasdaq 100 indices jumped over 100 and 35 points respectively.
Bitcoin climbed to $60,000. Ripple XRP enjoyed one of the best days this year following a significant victory over Securities and Exchange Commission. Crypto fear and greed has moved from a neutral level of 43 to a point where it is no longer influenced by the SEC.
The article will look at the three most popular cryptocurrencies: Ripple, Stellar Lumens and Helium.
Helium price forecast
Helium has seen its user base grow in recent months, making it one of the largest players in Decentralized Public Infrastricture Networks (DePIN). The IoT division of the company has more than 361,000 hotspots, while its MOBILE segment has 18810 hotspots.
Helium token (HNT), which was at a low of $2.87 last July, has recovered to more than $5 now. The recovery occurred as Solana tokens and other Solana assets rose.
Helium is now above both the Fibonacci Retracement of 61.8% and the 50-day Moving Average. The chart has formed the cup-and-handle pattern which is considered a bullish signal. The recent pullback occurred in the handle area.
Relative Strength Index has been pointing upwards. This means that momentum is building for the coin. The outlook is therefore bullish. Next, we should watch the Fibonacci Retracement at $6.50, about 25 percent above its current price.
Ripple price prediction
Ripple has been in the news on Thursday following a significant court win by Ripple over the Securities and Exchange Commission. A judge ruled in a court case that Ripple should pay $125 million as a fine. Ripple was hit hard by this fine, but it is a small amount in comparison to the SEC’s $5 billion demand.
Now that the ruling has been made, we may see applications to Exchange Traded Funds for Ripple. Ripple has a $5 billion market capitalization, making it one of the largest cryptos.
The ruling also implies that Ripple can easily reach agreements with companies that are in the industry of remittances and could adopt its technology.
News of this kind helped push the XRP token price up by more than 20%. It is now one of the most successful tokens on the market. The XRP price jumped by over 20% in an environment of high volume, as the intraday value of its token climbed to more than $2 billion. XRP whale activity is also on the rise.
The token formed a chart with a golden-cross pattern. This is considered a good sign for the market. This pattern is usually a good indicator of a long-term increase in price. World of Charts pointed out that the token formed a triangle symmetrical on the weekly chart.
There are indications that XRP has encountered a significant resistance level at $0.6600 – its high point from July 31st. To confirm further upside, the token must move beyond that level. The next level to monitor will be $0.70.
The greatest risk to the XRP is that the price could be affected by a “buy the rumour and sell the news” scenario. It is when an asset increases in price before a big event, but then continues to fall after it occurs.
Stellar Lumens XLM price analysis
A Stellar Lumens Token was one of the most successful cryptocurrencies on the market due to its association with Ripple. Both companies help people transfer money across the globe.
Ripple’s On-Demand Liquidity feature (ODL), while Stellar relies upon the XLM, is based on the XRP. Stellar founder, who was also part of Ripple founding team explains the closeness between both companies.
The XRP token bottomed out at $0.076 on the daily chart in both July and August. Double-bottom formation is considered a bullish signal. The price has risen to $0.1017, the resistance level that was its low in October 2023.
The Stellar candlestick pattern is between the Exponential Moving Avgauges of 50 and 200 days. The candlesticks also formed the dragonfly-doji pattern.
The XLM coin will continue to rise as long as it is bought at the resistance level of $0.1120. This was its high point on the 17th July. If the XLM token is able to break through that resistance level, it will likely continue to rise. The next target level for buyers to look out for is $0.1200.
The post Crypto Price Predictions: Helium Ripple, Stellar Lumens, and XRP may change as new information becomes available.
