February 23, 2024

In today’s headline TV CryptoDaily news:

Pepecoin becomes the biggest meme coin winner

Pepecoin surged 40 percent amid a market-wide rally led by bitcoin, extending its weekly gains to more than 70 percent. Trading volume for the frog-themed token jumped to more than $800 million, as the risk-on environment could spur massive bets on riskier assets like altcoins and memecoins.

Ripple Gets In-Principle Digital Asset Services Nod in Singapore

Blockchain-based payments company Ripple has received in-principle regulatory approval from Singapore’s financial watchdog to offer digital asset payments and token offerings in Singapore.

ETF-fueled rally sends Ether lower against BTC

The price ratio between ethereum and bitcoin, a widely watched measure of the largest cryptocurrency, fell to a two-month low as plans by a traditional financial giant to launch a bitcoin exchange-traded fund dramatically changed industry sentiment.

BTC/USD rose 0.5% in the previous session.

Bitcoin was up 0.5% against the dollar in the previous session. According to the Williams indicator, we are in an overbought market. Support is at 27206.3333 and resistance is at 32172.3333.

The Williams indicator indicates that the market is overbought.

ETH/USD traded sideways in the previous session.

Ethereum USD price was largely unchanged in the previous session. ROC is sending negative signals. The support level is at 1747.3767 and the resistance level is at 1970.2567.

ROC is currently in negative territory.

XRP/USD fell 0.4% in the previous session.

Ripple was down 0.4% against the dollar in the last session. The positive signal from the stochastic relative strength index is in line with overall technical analysis. Support is at 0.4835 and resistance is at 0.5116.

The Stochastic RSI is currently in positive territory.

LTC/USD surged 1.3% in the previous session.

The Litecoin/USD pair surged 1.3% in the previous session. The positive signal from ROC is in line with the overall technical analysis. Support at 76.8733 and resistance at 91.3933

ROC is currently in positive territory.

Daily Economic Calendar:

JP Branch Banking Services PMI

The Purchasing Managers Index (PMI) for sub-bank services reflects business conditions in the services sector. The services PMI is an important indicator of overall economic conditions. Japan’s own branch banking services PMI is due at 00:30GMT, Dutch GDP is at 04:30GMT and UK CFTC GBP NC net positions are at 20:00GMT 30 releases.

Dutch GDP

Gross domestic product measures the total value of all goods and services produced in a country. GDP is considered a broad measure of economic activity and health.

UK CFTC GBP NC Net Position

The weekly Commitment of Traders (COT) report provides information on position size and direction. The report focuses on speculative positions.

Baker Hughes U.S. oil rig count

The Baker Hughes rig count is an important business barometer for the drilling industry and its suppliers. Active drilling rigs consume products and services produced by the oil services industry. US Baker Hughes US oil rig count is due at 17:00GMT, Belgian leading indicators are at 13:00GMT and UK retail sales are at 06:00GMT.

BE Leading Indicators

Leading indicators indicate future trends in overall economic activity, including industrial confidence, order inflows/demand, manufacturing trends, and more.

UK retail sales

Retail sales measure the total revenue of a retail store. The monthly percentage change reflects the rate of change in such sales.

Disclaimer: This article is for informational purposes only. It does not provide or be intended to be used as legal, tax, investment, financial or other advice.