Technology

Bitcoin ‘bull pennant’ eyes $165K, Pomp scoops up $386M BTC: Hodler’s Digest, June 22 – 28

Posted on by Minakshi




Bitcoin Eyes ₹137 Lakh Amidst Major XRP Developments and Institutional Interest

Bitcoin’s Bullish Momentum: ₹1.37 Crore Target on the Horizon?

Bitcoin enthusiasts are buzzing with anticipation as technical analysis suggests a potential surge towards ₹1.37 Crore (approximately $165,000). This optimism is fueled by emerging ‘bull pennant’ patterns, indicating a possible continuation of the cryptocurrency’s upward trend.

Ripple’s Legal Victory Sparks XRP Price Surge

In other news, XRP witnessed a significant price jump following Ripple Labs’ announcement that it is dropping its cross-appeal against the US Securities and Exchange Commission (SEC). The move signals a potential resolution to the long-standing legal battle, boosting investor confidence.

The price of XRP surged by over 3%, reaching ₹181 (approximately $2.18), shortly after Ripple Labs CEO Brad Garlinghouse made the announcement. This development is seen as a positive step towards Ripple focusing on its core mission of building the “internet of Value.”

Anthony Pompliano Makes a Bold Bitcoin Investment

Adding to the positive sentiment in the crypto market, prominent investor Anthony Pompliano has reportedly acquired ₹3,212 Crore (approximately $386 million) worth of Bitcoin. This substantial investment underscores the growing institutional interest in Bitcoin and reinforces its long-term potential.

  • Strategic Decision: Ripple is dropping its cross-appeal to focus on building the internet of Value
  • Institutional Investment: Anthony Pompliano has acquired ₹3,212 Crore in Bitcoin
  • Positive Market Impact: XRP experiences a price surge after Ripple’s announcement
Summary:

  • Bitcoin is showing signs of a potential surge to ₹1.37 Crore based on technical indicators.
  • Ripple Labs’ decision to drop its cross-appeal against the SEC led to an immediate price increase in XRP.
  • Anthony Pompliano’s massive Bitcoin purchase highlights growing institutional confidence in the cryptocurrency.
Key Takeaways:

  • The cryptocurrency market is experiencing renewed optimism with Bitcoin potentially reaching new all-time highs.
  • Legal developments surrounding Ripple Labs continue to significantly impact the price of XRP.
  • Institutional investments play a crucial role in legitimizing and driving the growth of the cryptocurrency market.
  • The market reacted positively to Ripple’s focus on development over legal battles.