Friday’s Crypto Update: Bitcoin, Ethereum, and XRP Surge, NEIRO Meme Coin Wipes Out Recent Profits
Bitcoin remained stable above the $60,000 mark on Friday, showing a modest gain of over 1% for the day. Ethereum, on the other hand, was trading above $2,400, with the BlackRock Spot Ethereum ETF witnessing a significant inflow of $17.8 million on Thursday. XRP also saw a positive trend, climbing back above $0.5300 following Ripple’s filing of a cross-appeal in the ongoing SEC lawsuit.
NEIRO, a meme coin, experienced a correction of nearly 9% after a notable surge of over 50% in October. Despite this correction, NEIRO still holds potential, currently trading at $0.00155934. There is a possibility of erasing recent gains as liquidity hovers around the upper boundary of a Fair Value Gap (FVG) at $0.00128254, as indicated in the NEIRO/USDT daily chart. The 10-day Exponential Moving Average (EMA) aligns with the support level for NEIRO. The Moving Average Convergence Divergence (MACD) indicator reflects negative momentum in the price trend, with the Relative Strength Index (RSI) standing at 57.01, indicating a neutral position.
In market updates, Binance executive Tigran Gambaryan faced a setback as a Nigerian judge denied him bail. Gambaryan, who heads financial crime compliance at Binance, has been under scrutiny, with US lawmakers expressing concerns over his detention. Standard Chartered predicted a potential spike in Solana price if former US President Donald Trump were to win the November elections, with a projected 400% rally. Additionally, derivatives exchange Bitnomial challenged the SEC’s classification of XRP as a non-security on cryptocurrency exchanges, criticizing the regulator’s enforcement-focused approach.
Binance made industry headlines by announcing the launch of a pre-market trading platform, enabling users to trade tokens before their official listing on spot markets. Former Binance CEO Changpeng Zhao revealed his attendance at the Binance Blockchain Week in Dubai on October 30-31, emphasizing personal involvement in the event.
Bitcoin’s recent dip to a three-week low has been viewed as a potential “buy-the-dip” opportunity by analysts at Santiment, a crypto intelligence tracker. Despite the temporary setback, traders remain optimistic, particularly after the US CPI report hinted at expected rate cuts.
In conclusion, the cryptocurrency market continues to exhibit resilience and volatility, with key players making strategic moves to navigate regulatory challenges and capitalize on emerging opportunities.
