Bitwise XRP ETF Lands on NYSE Today as Mainstream Interest Accelerates

Crypto prices fell sharply on November 21, with Bitcoin dropping to $85,310, marking a significant decline amid a broader market downturn. The total cryptocurrency market capitalization has fallen below $3 trillion for the first time since May, now estimated at approximately $2.95 trillion. Other major cryptocurrencies, including Ethereum, XRP, and Solana, also experienced declines, contributing to over $950 million in liquidations.

Ryan Rasmussen, Head of Research at Bitwise, reiterated the firm's prediction that Bitcoin will reach $200,000 by 2026 during a Yahoo Finance appearance. He characterized the current market sell-off as a necessary shakeout in a maturing market rather than a definitive trend break. Rasmussen believes Bitcoin is closer to its bottom and expects it to lead the market upward once conditions improve.

XRP price has entered a new decline, trading below $2.050 and struggling against resistance near this pivot level. The price fell below the $2.00 support level, forming a low at $1.957. Currently, XRP is consolidating losses below the 23.6% Fib retracement level of the recent downward move, indicating a bearish trend.

World Liberty Financial (WLFI) is reallocating funds and confirming user identities following the compromise of several wallets ahead of its platform launch. The company froze affected addresses in September and is verifying ownership before returning assets. WLFI stated that breaches resulted from phishing attacks and exposed seed phrases, not from its platform or smart contracts, and only a small subset of users was impacted.

Bitcoin is attempting to stabilize around $95,000 after a volatile week that saw its price dip below $90,000. This decline follows a broader risk-off sentiment in the market, unsettling investors who recently witnessed Bitcoin reach an all-time high of $126,000. The situation raises questions about whether institutional investments, such as those from BlackRock, can reverse the downward trend.

Bitcoin is currently facing significant selling pressure around the $90,000 mark, with market sentiment remaining fragile due to rapid price fluctuations. Despite this, key on-chain metrics indicate that the correction may be nearing exhaustion. The Mean Reversion Oscillator has printed its first green oversold bar in months, historically signaling potential macro bottoms or significant rebounds in bull markets.

Crypto analyst Will Taylor from Cryptoinsightuk argues that discussions about an XRP bear market are premature. He maintains that XRP's higher-time-frame structure and liquidity profile remain bullish, despite recent volatility. Taylor emphasizes that XRP is trading above a multi-year resistance level, which now serves as support, and believes that as long as this support holds, the market is not in a confirmed long-term downtrend.

The XRP community is abuzz with excitement as J. Ayo Akinyele, Head of Engineering at RippleX, announces a potential transformative development for the XRP ecosystem. Akinyele hinted at the possibility of introducing native staking capabilities, which could significantly enhance the functionality and appeal of the XRP network.