Breaking Crypto Stories

Here are the top stories today:

• Trump’s Interview with Musk Avoids Crypto Topics Despite Betting Market Buzz

• Appeals Court Revives Lawsuit Alleging Binance.US Manipulated HEX Token Prices

• Grayscale Ethereum Trust Sees First Day of Zero Outflows Amid Surge in Ethereum Activity

🎤 Trump’s Interview with Musk Avoids Crypto Topics Despite Betting Market Buzz

Former President Donald Trump’s interview with Elon Musk avoided discussing bitcoin and crypto despite significant betting activity on the topics, and was delayed by a controversial DDOS attack claim.

• Trump's interview with Musk did not include mentions of bitcoin or crypto, despite significant betting activity on these topics.

• The interview experienced a delay attributed to a supposed DDOS attack, with some skepticism about the validity of this claim.

• High stakes were placed on various keywords including "crypto" and "Tesla," with one bettor winning over $1 million by correctly predicting the words Trump did or did not say.

💼 Appeals Court Revives Lawsuit Alleging Binance.US Manipulated HEX Token Prices

The Ninth Circuit Court of Appeals revived a class-action lawsuit against Binance.US, allowing claims that the exchange manipulated the HEX token’s price to proceed, after finding sufficient jurisdiction despite a prior dismissal.

• The Ninth Circuit Court reversed the dismissal of a lawsuit against Binance.US alleging illegal manipulation of the HEX token’s price.

• The court found sufficient US-based contacts for personal jurisdiction, contrary to the district court’s previous ruling.

• The lawsuit's claims against Binance.US and CoinMarketCap will proceed, while HEX creator Richard Heart faces SEC charges for securities fraud.

🌊 Grayscale Ethereum Trust Sees First Day of Zero Outflows Amid Surge in Ethereum Activity

The Grayscale Ethereum Trust saw its first day of zero outflows on August 12, coinciding with increased Ethereum activity and fueling optimism that this could be a bullish sign for Ether's price.

• ETHE recorded its first day of zero outflows on August 12 after a series of consecutive outflows since its launch.

• This milestone coincides with a surge in Ethereum activity, including increased trading volumes and new address creation on its layer-2 networks.

• Analysts believe that the reduction in outflows could be a bullish indicator for Ethereum's price, drawing parallels to Bitcoin's price movements following its ETF approvals.

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Ripple (XRP)

XRP Price Forecast: Bearish Momentum Dominates as XRP Nears Key Support

Price Movements: XRP is showing bearish momentum on the 4-hour chart, with closing prices consistently declining and the price staying below the 9 EMA. The MACD and RSI both indicate weakening bullish interest and strengthening bearish sentiment, suggesting that the downtrend may continue.

Key Levels to Watch: The key support levels to monitor are $0.5528 and $0.5494, with a potential deeper drop to $0.5428 if the selling pressure persists. On the upside, resistance is expected around $0.5758, with further resistance at $0.5761 and $0.5952 if a reversal occurs.

Trade Strategies: Traders looking to short XRP may consider entering around current levels or after a break below $0.5528, with stop-loss orders above $0.5758. For long trades, waiting for a confirmed break above $0.5761 or a bounce off $0.5494 with bullish signals could offer potential entry points.

Pepe (PEPE)

PEPE Price at a Critical Support: Will the Bulls Defend or Will Bears Take Over?

Price Movements: PEPE is currently exhibiting bearish momentum on the 4-hour chart, with short-term indicators showing a lack of bullish strength. The 9-period EMA is below the 20-period EMA, and the MACD indicator is in negative territory, signaling weak upward momentum.

Key Levels to Watch: Immediate support is at $0.00000790, with further support levels at $0.00000773 and $0.00000736. On the upside, resistance levels are located at $0.00000849 and $0.00000873, which must be breached for a bullish reversal.

Trade Strategies: For long positions, traders should wait for a break above $0.00000849, with a confirmation from the EMAs. Short sellers might consider entering if the price breaks below $0.00000790, targeting lower support levels. Risk management is crucial in both scenarios.

Dogecoin (DOGE)

Dogecoin Price Forecast: Mixed Signals Could Lead to Volatility

Price Movements: DOGE is currently experiencing mixed signals from technical indicators, with the 9 EMA slightly above the 20 EMA, suggesting a mild bullish bias. However, the narrowing gap between these EMAs and a bearish MACD histogram indicate weakening momentum, potentially leading to consolidation or a reversal.

Key Levels to Watch: The critical resistance levels to monitor are $0.10748, $0.10838, and $0.10934, while key support zones lie at $0.10235, $0.10169, and $0.10059. These levels will play a significant role in determining the next directional move for DOGE.

Trade Strategies: For long positions, traders should consider entering on a breakout above $0.10748, targeting the higher resistance levels. For short positions, a failure to break resistance could be an entry point, with targets set at the key support zones. Monitoring EMA crossovers and MACD signals will be crucial in deciding when to enter or exit trades.

ICYMI:

• BitGo CEO Dismisses Concerns Over Justin Sun’s Involvement in Wrapped Bitcoin

• How to Launch a Crypto Company: A Step-by-Step Guide to Success

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