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XRP Could Rocket to $8 as Focus Shifts to Crypto Majors After Bitcoin’s Record Run: Traders

Published

11 часов ago

23 мая, 2025

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Attention is turning to major tokens as bitcoin (BTC) set fresh highs earlier this week, with some pointing out that institutional demand and a clear regulatory environment pave the way for strong moves among the top coins.

Bitcoin was hovering just under $111,000 during the Asian morning hours on Friday, seeing a slight pullback on profit-taking as is expected after upward moves. Cardano’s ADA, dogecoin (DOGE) and Solana’s SOL added as much as 4%, while ether (ETH), XRP, and BNB Chain’s BNB rose less than 1.5%.

The broad-based CoinDesk 20 (CD20), a liquid index tracking the largest tokens by market cap, rose 1.2% in the past 24 hours.

Bitget Research’s Chief Analyst Ryan Lee told CoinDesk in a Telegram message that a potential dip in bitcoin dominance could kick off a broader alt season, with high-profile names like XRP and Solana in prime position to benefit.

Lee pointed to XRP’s improving regulatory clarity and recent technical breakout patterns as reasons traders are eyeing a move toward $3–$8 in the medium term.

XRP recently formed a golden cross against BTC on the weekly chart — a historically bullish signal suggesting a long-term trend reversal may be underway. The ratio has been locked in a sideways channel since late 2020, but that may now be breaking after last month’s SEC decision not to pursue further appeals against Ripple.

SOL could climb toward $220–$300 on ETF speculation, while ADA shows potential for a breakout between $1 and $3, Lee added.

Singapore-based QCP Capital said in a Thursday broadcast that the latest BTC move confirmed a robust trend supported by improved structural fundamentals and relatively low volatility.

«This rally feels more structurally sound than the last with less frothy momentum-chasing and stronger fundamental underpinnings,” the firm said, adding that the brief dip following BTC’s initial record high break triggered put-side profit-taking, but buyers were “quick to reload on the upside.”

Still, broader macro risks remain in play. Renewed tariff concerns, rising U.S. yields, and a stronger dollar could all inject volatility into the system, especially for altcoins, QCP said. Traders are urged to stay selective, focusing on assets with strong fundamentals and clear regulatory narratives.

Meanwhile, FxPro’s Alex Kuptsikevich shared in an email that bitcoin’s sentiment index is hovering just below “extreme greed” as of Friday, a sign that the rally may still have room to run in the coming days.

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Crypto Market Sees $300M Liquidations as Trump Tariff Threats Flush Late Bulls

Published

2 часа ago

23 мая, 2025

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Crypto traders betting on a steady bitcoin BTC rally got a sharp reminder of headline risk from Donald Trump’s latest tariff threats.

Over $300 million worth of leveraged derivatives positions were liquidated across centralized exchanges in the past four hours, according to CoinGlass data, as crypto prices plunged following the news.

Nearly all liquidations came from long positions—traders betting on higher prices. BTC longs accounted for $107 million of the total, while Ethereum’s ether ETH followed with close to $87 million. Other tokens, including Solana’s SOL SOL, dogecoin DOGE, and SUI SUI saw liquidations ranging between $10 million and $18 million.

Liquidations across all digital assets (CoinGlass)

«Nice aggregate flush of long leverage and de-risk selling from spot,» well-followed crypto trader Skew noted in an X post early Friday. «All driven by headlines once again.»

The sell-off came after Trump proposed a 50% tariff on imports from the European Union starting next month, along with a 25% tariff on iPhones manufactured outside the U.S., reigniting fears of an escalating trade war.

As a result, BTC and major altcoins such as Ether ETH, XRP XRP, and Cardano ADA fell 3% to 4%, while smaller-cap tokens like Uniswap UNI and SUI SUI dropped 5% to 7% over the past 24 hours.

Crypto trader named James Wynn, who gained attention recently opening a $1.1 billion BTC long bet with 40x leverage on the Hyperliquid exchange, also slipped underwater on the massive position. Currently, the trader is sitting on $7.5 million of unrealized losses, and the position could be liquidated if BTC slips to $102,000, according to a screenshot shared on X.

Interestingly, the long liquidations came amid a recent unusual tilt toward short positions in BTC derivatives despite record prices, CoinDesk reported on Thursday.

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CoinDesk 20 Performance Update: Index Declines 3.2% as All Assets Trade Lower

Published

3 часа ago

23 мая, 2025

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CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.

The CoinDesk 20 is currently trading at 3239.11, down 3.2% (-107.44) since 4 p.m. ET on Thursday.

None of the 20 assets are trading higher.

9am CoinDesk 20 Update for 2025-05-23: Full Chart

Leaders: SOL (-1.1%) and BCH (-1.8%).
Laggards: SUI (-6.8%) and NEAR (-5.8%).

The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.

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Semler Scientific Bolsters Bitcoin Holdings with $50M Acquisition

Published

3 часа ago

23 мая, 2025

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Medical equipment company Semler Scientific (SMLR) announced its third-largest bitcoin BTC purchase since adopting a bitcoin standard roughly one year ago.

The company in the ten days ending May 22 acquired 455 BTC for $50 million, averaging $109,801 per bitcoin. This acquisition, funded through its at-the-market (ATM) equity offering program, brings Semler’s total holdings to 4,264 BTC, purchased for $390 million and currently valued at more than $450 million.

To date, the company has issued 3,003,488 shares under its April 15 $500 million ATM program, raising $114.8 million.

Now roundly used as a key performance indicator by most companies adding bitcoin to their balance sheet, Semler’s BTC Yield, has risen to 25.8% in 2025. BTC Yield measures the year-to-date percentage change in the ratio of total bitcoin holdings to assumed diluted shares outstanding.

SMLR shares are lower by 5.3% in premarket trading alongside a sizable decline in the price of bitcoin Friday morning to $108,300.