Coinbase Withdrawals Skyrocket, Crypto Daily TV 7/6/2023

In Todays Headline TV CryptoDaily News:

User withdrawals from Coinbase skyrocket

User withdrawals from Coinbase soared as the SEC sued the crypto exchange one day after filing a lawsuit against rival Binance. Blockchain data shows that Coinbase’s net outflows over a 24-hour period totaled $600 million.

Ripple IPO – highly anticipated with high expectations

Ripple, the company behind the XRP token and known for its blockchain technology, is generating significant buzz amid rumors surrounding its highly awaited initial public offering. Analysts anticipate a potential 20-fold increase in Ripple’s valuation post-IPO, driven by its substantial XRP reserves valued at $21 billion.

BTC and ETH sag after SEC suit against Coinbase

The prices of Bitcoin, Ether, and other top cryptocurrencies dropped marginally after the Securities and Exchange Commission sued U.S. crypto exchange Coinbase, just one day after the agency filed another blockbuster lawsuit against Binance. BTC/USD skyrocketed 4.9% in the last session.

The Bitcoin-Dollar pair skyrocketed 4.9% in the last session. The MACD is giving a negative signal. Support is at 24380.6667 and Resistance is at 27808.6667.

The MACD is currently in negative territory.

ETH/USD exploded 3.8% in the last session.

The Ethereum-Dollar pair exploded 3.8% in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 1720.4133 and Resistance is at 1935.9333.

The Ultimate Oscillator is giving a positive signal.

XRP/USD skyrocketed 3.3% in the last session.

The Ripple-Dollar pair rose 3.3% in the last session after gaining as much as 4.5% during the session. The Ultimate Oscillator is giving a negative signal, going against our overall technical analysis. Support is at 0.4603 and Resistance is at 0.5672.

The Ultimate Oscillator is giving a negative signal.

LTC/USD exploded 3.2% in the last session.

The Litecoin-Dollar pair skyrocketed 3.2% in the last session. The ROC is giving a positive signal. Support is at 78.2467 and Resistance is at 99.2667.

The ROC is giving a positive signal.

Daily Economic Calendar:

FR Imports

Imports of goods and services consist of transactions in goods and services (purchases, barter, gifts, or grants) from non-residents to residents. The French Imports will be released at 06:45 GMT, the French Exports at 06:45 GMT, the US EIA Crude Oil Stocks Change at 14:30 GMT.

FR Exports

The Exports measure of the total exports of goods and services by the local economy. A steady demand for exports helps to support growth in the trade surplus.

US EIA Crude Oil Stocks Change

The EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivates, released by the Energy Information Administration.

JP Gross Domestic Product

The Gross Domestic Product measures the total value of all goods and services produced by a country. The GDP is considered a broad measure of economic activity and health. Japan’s Gross Domestic Product will be released at 23:50 GMT, the UK’s RICS Housing Price Balance at 23:01 GMT, and the US MBA Mortgage Applications at 11:00 GMT.

UK RICS Housing Price Balance

The RICS Housing Price Balance survey presents housing costs. It shows the strength of the housing market.

US MBA Mortgage Applications

The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market.

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