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Todays Sentiment

Bullish

 -  NEWSBTC
XRP Open Interest Nears $3B As CEO Sees $10B ETF Inflows Ahead XRP Open Interest Nears $3B As CEO Sees $10B ETF Inflows Ahead
According to market reports, open futures positions on XRP have grown sharply this month, even as the token struggles to push past the $3 mark. Related Reading: Bitcoin Just Did It — New Record High Above $125,000 This ‘Uptober’ CryptoQuant data shows open interest near $2.92 billion, while Coinglass reports a much higher $8.94 billion figure, reflecting wider market coverage that includes venues such as the CME. Open Interest Climbs Despite Price Hurdles Reports have disclosed that XRP’s open interest rose from $2.34 billion on September 25 to roughly $2.92 billion as of Monday. That increase comes at the same time the token moved from a low of $2.74 to about $2.99, nearly 10%. Yet trading activity has not kept pace. Volume fell by 10% over 24 hours to $5.76 billion, which suggests fewer spot trades are backing the surge in futures bets. Different data providers tell different parts of the story. CryptoQuant pulls figures from major crypto exchanges and shows OI near $2.92 billion. Based on broader coverage, Coinglass places the number at $8.94 billion. The gap is largely explained by the range of exchanges counted. Some venues that handle large futures flows, including margin and institutional platforms, are captured by one service and not the other. That matters because the total picture of positions across markets can change how a price move plays out. Speculators Build Positions While Volume Eases Traders appear to be building more futures positions even while outright trading slows. Margin-based bets have grown. That makes the market more sensitive to price swings. When open interest increases into a firm resistance level — here, the psychological and technical barrier around $3 — a failed breakout can quickly trigger forced exits and sharp moves in either direction. Put simply: more open bets without matching spot volume raises the odds of sudden volatility. ETF Hopes Add A Different Layer Institutional optimism is also in the mix. In an interview with Paul Barron, Canary Capital CEO Steven McClurg raised his initial estimate for potential XRP ETF inflows from $5 billion to as much as $10 billion. Related Reading: 2%–4% In Crypto? Morgan Stanley Thinks That’s The Smart Move Now He suggested ETF demand could reach $2–3 billion on day one under favorable market conditions. Those projections are drawn from past ETF launches and the large allocation some institutional buyers showed for early Bitcoin products. Reports have also highlighted ongoing talks between the SEC and the CFTC about crypto oversight, a development that could affect ETF approvals and market access. SEC commissioner Paul Atkins has been pressing for what he calls an “innovation exemption” to speed certain approvals. Until clearer rules are in place, big institutional moves remain possible but not guaranteed. Featured image from Vecteezy, chart from TradingView

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 - NEWSBTC
Solana (SOL) Declines Again – Is This A Dip Worth Buying For Recovery? Solana started a fresh decline from the $238 zone. SOL price is now consolidating losses below $225 and might decline further below $218. SOL price started a fresh decline below $232 and $230 against the US Dollar. The price is now trading below $225 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $230 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start another increase if the bulls defend $218 or $212. Solana Price Dips Below Support Solana price extended gains above $225 and $230, like Bitcoin and Ethereum. SOL even surpassed $235 before the bears appeared. A high was formed near $238 and the price dropped. There was a move below $232. Besides, there was a break below a key bullish trend line with support at $230 on the hourly chart of the SOL/USD pair. The pair traded as low as $217.47 and is currently consolidating losses below the 23.6% Fib retracement level of the recent decline from the $237 swing high to the $217 low. Solana is now trading below $225 and the 100-hourly simple moving average. If there is a recovery wave, the price could face resistance near the $222 level. The next major resistance is near the $228 level or the 50% Fib retracement level of the recent decline from the $237 swing high to the $217 low. The main resistance could be $230. A successful close above the $230 resistance zone could set the pace for another steady increase. The next key resistance is $238. Any more gains might send the price toward the $245 level. Another Drop In SOL? If SOL fails to rise above the $230 resistance, it could continue to move down. Initial support on the downside is near the $218 zone. The first major support is near the $212 level. A break below the $212 level might send the price toward the $200 support zone. If there is a close below the $200 support, the price could decline toward the $188 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $218 and $212. Major Resistance Levels – $230 and $238.
 - Bitcoin.com
 - BITCOINIST
 - Cointelegraph
 - CoinDesk
 - Cointelegraph
 - NEWSBTC
Solana (SOL) Declines Again – Is This A Dip Worth Buying For Recovery? Solana started a fresh decline from the $238 zone. SOL price is now consolidating losses below $225 and might decline further below $218. SOL price started a fresh decline below $232 and $230 against the US Dollar. The price is now trading below $225 and the 100-hourly simple moving average. There was a break below a key bullish trend line with support at $230 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start another increase if the bulls defend $218 or $212. Solana Price Dips Below Support Solana price extended gains above $225 and $230, like Bitcoin and Ethereum. SOL even surpassed $235 before the bears appeared. A high was formed near $238 and the price dropped. There was a move below $232. Besides, there was a break below a key bullish trend line with support at $230 on the hourly chart of the SOL/USD pair. The pair traded as low as $217.47 and is currently consolidating losses below the 23.6% Fib retracement level of the recent decline from the $237 swing high to the $217 low. Solana is now trading below $225 and the 100-hourly simple moving average. If there is a recovery wave, the price could face resistance near the $222 level. The next major resistance is near the $228 level or the 50% Fib retracement level of the recent decline from the $237 swing high to the $217 low. The main resistance could be $230. A successful close above the $230 resistance zone could set the pace for another steady increase. The next key resistance is $238. Any more gains might send the price toward the $245 level. Another Drop In SOL? If SOL fails to rise above the $230 resistance, it could continue to move down. Initial support on the downside is near the $218 zone. The first major support is near the $212 level. A break below the $212 level might send the price toward the $200 support zone. If there is a close below the $200 support, the price could decline toward the $188 support in the near term. Technical Indicators Hourly MACD – The MACD for SOL/USD is gaining pace in the bearish zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is below the 50 level. Major Support Levels – $218 and $212. Major Resistance Levels – $230 and $238.
 - BITCOINIST
 - Cointelegraph