tl;dr
Ripple CEO Brad Garlinghouse expects more XRP ETF filings following Bitwise's application with the US SEC. He believes this marks continued adoption of XRP and the broader crypto market. Bitwise has filed an S-1 form for its XRP ETF, pending SEC acknowledgment and approval. The move is seen as signi...
Ripple CEO Expects More XRP ETF Filings Following Bitwise Application Ripple CEO Brad Garlinghouse expects more XRP ETF filings following Bitwise application. Bitwise has filed an S-1 form for its XRP ETF with the US SEC. Ripple CEO Brad Garlinghouse expects more XRP ETF filings following Bitwise's application with the US SEC. He believes this marks continued adoption of XRP and the broader crypto market. Bitwise has filed an S-1 form for its XRP ETF, pending SEC acknowledgment and approval. The move is seen as significant for XRP adoption in traditional finance. The filing also confirms institutional recognition of XRP as a commodity. Approval, however, depends on the SEC's stance on XRP's legal status.
Brad Garlinghouse predicts that there could be more XRP ETF filings following Bitwise XRP ETF application. More asset managers could file to offer an XRP ETF following Bitwise’s filing of the S-1 form for its Bitwise XRP ETF with the US Securities and Exchange Commission (SEC). Garlinghouse also highlighted how significant this development is for XRP adoption, especially in traditional finance (TradFi).
Bitwise has confirmed in a press release that it had filed the S-1 form for its Bitwise XRP ETF with the US SEC. This fund will hold XRP directly and offer institutional investors the opportunity to gain exposure to the crypto token. Approval of the Bitwise XRP ETF and other imminent ones will depend on whether the SEC holds this view.
At Bitwise, we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century. It’s why for the past seven years we’ve helped investors access the opportunities in the space, and we’re excited to continue that work with our filing for a Bitwise XRP ETP, said Bitwise CEO Hunter Horsley.
By Boluwatife Adeyemi, 10 hours ago
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After a thorough analysis of the market charts and technical indicators, it is evident that the stock is currently testing a crucial support level. The Relative Strength Index (RSI) suggests that the stock is approaching oversold territory, indicating a possible reversal in the near future.
Additionally, the moving average convergence divergence (MACD) indicator has shown a bearish crossover, signaling a potential downward trend. This is further supported by the breach of the lower Bollinger Band, indicating increased selling pressure.
Considering these factors, it is essential to closely monitor the stock's price action around the current support level. A breakdown below this level could lead to further downside movement, potentially testing the next major support.
However, if the stock manages to find support and shows signs of a reversal, it may indicate a buying opportunity, especially if accompanied by a bullish divergence in the RSI. Traders should exercise caution and wait for confirmation before considering any long positions.
More about Marathon Digital Holdings Inc
Marathon Digital Holdings Inc,Marathon Digital Holdings, Inc. is a cryptocurrency mining digital asset technology company with a focus on the blockchain ecosystem and digital asset generation in the United States. The company is headquartered in Las Vegas, Nevada.
Industry: REAL ESTATE & CONSTRUCTION
Sector: PATENT OWNERS & LESSORS
Phone: 4437738000
Current Stock Price: $16.74
Dividend Yield: None
EPS: 0.9
P/E Ratio: 2.39
Beta: 0.511
Market Cap: $564,954,000
Revenue: $21.44
Profit Margin: 0.764
Operating Margin: 0.775
More about CleanSpark Inc
CleanSpark, Inc. provides energy software and control technology solutions worldwide. The company is headquartered in Woods Cross, Utah.
Sector: Real Estate & Construction
Market Cap: 2179501000
Dividend Yield: None
Beta (5Y Monthly): None
PE Ratio (TTM): -0.99
EPS (TTM): 1.788
Profit Margin: -0.463
Revenue: 342213000
Forward Dividend & Yield: 24.67, 0
Ex-Dividend Date: 1.287
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Technical Analysis Report: Unveiling Market Trends
In the current market landscape, the S&P 500 index has exhibited a strong bullish trend, with the 50-day moving average consistently staying above the 200-day moving average. This indicates a robust bullish momentum in the market.
Additionally, the Relative Strength Index (RSI) has surged above 70, pointing to a potential overbought situation. This suggests a need for caution, as overbought conditions can sometimes precede a market correction.
Examining specific stocks, Company X has shown a classic "head and shoulders" pattern, signaling a potential trend reversal. Investors should closely monitor the support level to confirm the pattern's validity.
On the other hand, Company Y has experienced a breakout above its resistance level, indicating a bullish trend. This breakout could signify a favorable entry point for traders seeking upward potential.
It's essential to note that while these indicators provide valuable insights, they are not foolproof predictors of future market movements. Investors should remain vigilant and consider other fundamental and macroeconomic factors when making investment decisions.
More about Riot Blockchain Inc
Riot Blockchain Inc
Riot Blockchain, Inc., focuses on the cryptocurrency mining operation in North America. The company is headquartered in Castle Rock, Colorado.
Industry
LIFE SCIENCES, IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES
Market Cap
2.14895 Billion
Current Price
12.64
Dividend Yield
None
Price to Earnings Ratio
0.56
Earnings Per Share (EPS)
1.281
Beta
0.31
Volume
280,017,000
52-Week High
16.92
52-Week Low
6.36
Price Change (1 Year)
-0.088