Stablecoin transaction volume is soaring; meanwhile, tradfi companies are leaning in hard, and Japan’s first yen-denominated token has roared.
The post All is coming up stablecoins: volume soars, tradfi firms want in appeared first on CoinGeek.
Crypto analyst CryptosRus has drawn attention to the open interest reset for XRP. The analyst also explained why this development could spark a major price surge for the altcoin.
In an X post, CryptosRus revealed that XRP’s open interest on Binance has dropped back to the same lows that were seen in May 2025. The analyst noted that back then, the liquidation flush sparked a massive rally for the altcoin, which pushed it to $3.50. He added that this time around, the open interest is at the floor again, but the price is holding around $2.6.
CryptosRus stated that this means that leverage is gone while the strong hands are still holding XRP. The analyst predicted that if new liquidity enters, this setup could signal the next leg up for the altcoin. He added that rallies usually start when leverage is low, spot demand is strong, and shorts are trapped.
Notably, XRP has witnessed new demand with the launch of the largest XRP treasury company, Evernorth. The company has already accumulated up to $1 billion in XRP with Ripple’s backing and has revealed plans to continue accumulating more, using gains from its DeFi activities. Notably, the company stated that it will purchase XRP on the open market, which is expected to impact the altcoin’s price.
Meanwhile, the SEC is expected to approve the spot XRP ETFs once the U.S. government shutdown ends. This could drive new liquidity into the altcoin, boosting its price. Moreover, experts such as Canary Capital’s CEO Steven McClurg have predicted that the XRP ETFs could see more inflows in their first month than the Ethereum ETFs did.
Crypto analyst Ether stated that XRP is quietly gearing up to melt faces and that most aren’t even aware or ready for what is coming. This came as the analyst alluded to an earlier analysis, in which he revealed that a similar scenario from a previous cycle was playing out for the altcoin.
Ethere stated that XRP’s cyclical structure is showing a striking similarity again. After the altcoin’s rally in 2017, its price was rejected from the 2013 all-time high (ATH) level and then retested the 2014 ATH level, which had previously acted as resistance. XRP then began its parabolic run after it accumulated strength in that range.
Now, this same XRP price action is playing out again, according to Ether. He noted that after the strong surge in 2024, the altcoin’s price was rejected at the 2017 ATH level and retested the 2021 ATH level, which had previously acted as resistance. The analyst added that the power accumulation phase is now underway in this region and that once it is complete, the next parabolic run will be inevitable.
At the time of writing, the XRP price is trading at around $2.63, up in the last 24 hours, according to data from CoinMarketCap.
Key takeaways
Ether, the second-largest cryptocurrency by market cap, is up by more than 5% in the last 24 hours. The rally allowed the coin to briefly hit the $4,200 level before retracing to now trade at around $4,160 per coin.
This latest development comes as Bitcoin and the broader cryptocurrency market recorded an excellent weekend. Bitcoin is trading above $115k once again after adding 3.5% to its value.
With Bitcoin, Ether, and other leading altcoins recording gains, the total cryptocurrency market cap now stands at $3.91 trillion. Ether could rally higher in the near term, with the technical indicators suggesting further buying pressure.
The ETH/USD 4-hour chart is bearish and efficient despite Ether adding 5% to its value in the last 24 hours. The technical indicators suggest that Ether could face further buying pressure thanks to its rally.
Ether’s price surged by 5% last week, closing the weekly candle above the 50-day EMA at $4,129 on Sunday. It briefly climbed to $4,206 on Monday before retracing to now trading around $4,160.
The RSI of 67 shows a bullish momentum, with the MACD lines flashing a buying signal in the last few days. If Ether breaks and closes above its daily resistance of $4,232, it could continue its rally towards the next major resistance and TLQ level at $4,529. An extended bullish run could allow Ether to reclaim its recent high above $4,700.
However, if Ether faces a correction following its recent run, it could dip towards the major support level at $3,593.
The post Ethereum price forecast: ETH eyes $4,500 amid bullish momentum appeared first on CoinJournal.
Crypto analyst Hov has stated that the macro target for the Dogecoin price remains unchanged despite the recent crypto market crash. This comes as DOGE looks to reclaim the psychological $0.2 level, which could spark a significant rebound for the meme coin.
In an X post, the crypto analyst stated that he still has the same macro target for the Dogecoin price. His accompanying chart showed DOGE could rally to $3 by next year, which would mark a new all-time high (ATH) for the altcoin. However, there is the possibility that the meme coin could keep trading sideways till the end of the year.
Meanwhile, Hov noted that the Dogecoin price action had played out as expected, with DOGE correcting off the low and crashing by over 50%. He added that the move did not quite make it into the lower support level, but that so far, the move off the low looks pretty corrective. The meme coin had crashed from a high of around $0.30 last month, recently touching $0.11 amid the crash that followed Trump’s announcement of 100% tariffs on China.
Hov also stated that the focus will be on how the Dogecoin price action develops over the next week to see whether the C-wave corrective move is in. DOGE is currently looking to rebound and reclaim the psychological $0.2 level. This has been sparked by optimism regarding a potential trade deal between the U.S. and China.
The White House has confirmed that U.S. President Donald Trump will meet China’s President Xi Jinping on October 30 at the APEC Summit. Meanwhile, the September CPI, which dropped yesterday, came in lower than expectations, which also contributed to a bounce in the Dogecoin price.
Crypto analyst Ether revealed in an X post that the 3rd bull wave is on the horizon for the Dogecoin price. He noted that DOGE experienced two major bull waves in 2017 and 2021 and that another bull wave is now loading. The analyst broke down the current price action, which points to another bull wave.
Ether revealed that the long downtrend has been broken, with the retest now complete. He further remarked that the 25MA on the higher time frame is back at support. Meanwhile, the Dogecoin price is said to be gathering strength in the lower band of a years-long ascending channel. The analyst added that all technical indicators are “whispering” the start of a new cycle. As such, he believes the 3rd bull wave is a matter of when, not if.
At the time of writing, the Dogecoin price is trading at around $0.19, up in the last 24 hours, according to data from CoinMarketCap.
Reports have disclosed a 400% rise in stablecoin transfers on Ethereum over the last 30 days, pushing total transfer volume to $581 billion and more than 12.5 million transfers, according to Token Terminal.
The stablecoin market cap on Ethereum now tops $163 billion. At the same time, Ethereum has fallen about 4.50% in the past week, and briefly tested support near $3,738, which some traders called a buying opportunity.
On-chain trackers show heavy buying from large holders. A newly created wallet, 0x86Ed, spent $32 million to pick up 8,491 ETH in roughly three hours, based on Arkham Intelligence records.
Another high-profile account monitored by LookOnChain moved 284K USDC into Hyperliquid after recent liquidations, apparently to maintain long exposure to ETH.
Reports say October’s stablecoin transaction volume on Ethereum passed $1.91 trillion for the second time on record, a sign that big flows are still moving through the network.
USDT usage on Ethereum is at an all-time high, with key metrics up ~400% from Sep ’23 lows.
Monthly transfer volume in September was $580.9 billion & transfer count 12.5 million.
At a ~$500 billion valuation, @Tether_to is the most valuable business building on @ethereum. pic.twitter.com/Z83e68NO8C
— Token Terminal
CryptoQuant and exchange data point to a rise in institutional interest. CME futures open interest for ETH has climbed, suggesting larger players are setting positions ahead of a potential price move.
Fundstrat’s Tom Lee was cited saying ETH could head toward $5,000 if the ETH/BTC ratio clears the 0.087 resistance. Matt Sheffield, CIO at Sharplink Gaming, told analysts that past liquidations did not stop real use and that the scale of payments on legacy systems — SWIFT processes about $150T a year — shows how much room exists for stablecoins to grow on Ethereum.
Big money is flowing into #Ethereum institutional interest is clearly rising fast….
The surge in CME futures open interest signals that smart money is gearing up for a major $ETH move ahead… pic.twitter.com/8oUfApDeoP
— BitGuru
Technical analysis experts have noted a confluence of indicators near today’s prices. Currently, ETH is trading near $3887, just above the significant Fibonacci retracement of 0.618 at $3781.
The 0.786 retracement is near $3,640 with the level of formal invalidation set at $3443. Some technicians have pointed to a triple bottom trading pattern around $3600, as well as the potential for a new accumulation reading from a Wycoff re-accumulation pattern which could lead to higher targets (notably $5125 at the 1.618 extension.
Balance Between Flow And RiskIn sum, with heavy stablecoin flow, whale buying, and increasing interest in futures, this has created a basis for bullish calls into the $5000 range.
That said, chart patterns fail, on-chain movements may not lead to changes in price, and traders who remain cognizant of the ETH/BTC ratio, the invalidation line at $3443, and whether large transactions are transferring or being used for longer-term custody, may get more clarity in the coming sessions.
Featured image from Motion Island, chart from TradingView
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