Crypto Outlook

The crypto market has seen a drastic gain in price, with all major cryptos in green.

The global crypto market cap is $972.44B, a 0.04% decrease over the last day. The total crypto market volume over the previous 24 hours is $45.73B, which makes an 18.94% decrease.

The greed and fear Index remains at 45, indicating fear sentiment.

Bitcoin: BTC is currently trading at $20,927.31, a price increase of 0.52% over 24 hours. However, the price also increased by 15.25% in the past seven days. Today BTC reached a low and high of $20,685.38 and $21,037.56, respectively.

Despite awaiting trial on suspicion of attempting to launder Bitcoin worth billions of dollars, an Amateur rapper, Heather Morgan has a new job.

According to Bloomberg News, the unnamed tech company does not mind having her working with them even when she’s under 24-hour house arrest.

Morgan’s new position in the firm is as a “growth marketing and business development specialist,” However, the name of the tech company is being kept secret to protect her. Her lawyer on this stated that it is so because she is “subject to disparaging comments and harassment on social media as a result of the intense media coverage of this case.”

Ethereum: ETH is currently trading at $1,539.55. The price increased by 0.94% over 24hrs. The price in the past seven days increased significantly by 10.83%. The ETH price formed a low and high of $1,514.38 and $1,560.24, respectively.

According to a report by Crypto.com, the number of Ethereum holders grew 263% between January and December 2022. Moreover, the investors’ numbers rose from 27 million in January to 87 million by the end of December.

As per the report, on the other hand, Bitcoin owners rose by only 20%, to 219 million in December from 183 million in January.

Although ETH holders have grown more quickly lately, BTC holders still sum up the majority — making up 52% of global crypto owners holding. On the other hand, ETH holders account for 20% of global crypto owners.

XRP: XRP is currently trading at $0.3914, a price increase of 3.50% over 24 hours. Moreover, the price also increased by 6.27% over the last seven days. The XRP price formed a low and high of $0.3776 and $0.392, respectively.

Brad Garlinghouse, the CEO of Ripple, anticipates the firm’s long-running dispute with the SEC to be concluded within “single-digit months” and remains assured of securing the outcome in their favor.

Interviewing with CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse stated that the ruling could come as soon as June now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court:

“We expect a decision from a judge certainly in 2023. You don’t really have control over when a judge makes their decisions. But I’m optimistic that sometime in the coming single-digit months, we’ll have closure there.”

Litecoin: LTC is trading at $83.96, a price decrease of 1.13% in 24 hours. Moreover, the price increased by 0.81% over the past seven days. The LTC price formed a low and high of $82.14 and $85.16, respectively.

Litecoin had a strongly bullish outlook. From the last bottom swing low at $61 on Dec. 19, 2022, the LTC price has gone up significantly by 48.63%, breaking the major resistance at the $80 zone.

Currently, the price is trading above both the 50 and 200 MA showing bullish sentiment in the market. The RSI was in the overbought territory at 60.43, but momentum continued to be strongly bullish.

A pullback to the $80 area can be considered a good buying opportunity as it would be a break and retest of a newly broken resistance zone. However, moving to the lower timeframe is necessary to see the candle reaction near the zone. If the new swing high at the $89 mark is broken and the candles continue to trade higher, the market may reach the psychological $100 level.

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