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XRP holds above $1.13 breakout as analyst targets $6.40 and $30
Edgen Crypto·Jul 23 2026, 20:12Share to
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[1] XRP's Biggest Breakout in Years Could Fuel a Run to $6.40 and $30 Targets, Veteran Analyst Says (https://coinpaper.com/33402/xrps-biggest-brea ...)[2] XRP price eyes breakout as golden cross, whale accumulation and XRPL activity surge (https://coinjournal.net/news/xrp-price-eyes-b ...)[3] Bullish XRP Chart Clashes With an ETF Warning, Who Wins? (https://beincrypto.com/xrp-price-etf-inflows- ...)[4] Egragcrypto sees $XRP in a macro breakout retest after e - KuCoin (https://www.kucoin.com/news/insight/XRP/6a61f ...)[5] XRP Price Analysis: Bulls Test $0.85 Support as $6.40 Target Emerges - TronWeekly (https://www.tronweekly.com/xrp-price-analysis ...)
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Jul 23 2026, 20:43
Smarter Web sells 177 BTC to repay $11.7M note, diluting BTC per share
The Smarter Web Company sold 177.89 Bitcoin at $65,762 each to repay an $11.7 million convertible note early, a transaction that reduced Bitcoin per share by 6.18% despite eliminating 7.7 million potential shares. "The conversion price had not been met, and management chose to simplify the capital structure," CEO Andrew Webley said on X, describing the instrument as more akin to debt than equity in the company's treasury analytics. The UK-listed firm held 2,878 BTC before the July 23 repayment and now holds 2,700.11 BTC, a 6.18% decline. The Smarter Convert instrument, launched in August 2025 with a $21 million subscription, gave TOBAM Group the option to convert at £2.0475 per share — about seven times the current 29.20p market price — or take settlement in Bitcoin or fiat. SWC chose to repay in cash, extinguishing the claim two weeks before its Aug. 5 maturity. The repayment removed a Bitcoin-linked obligation but left the company with a tougher capital-allocation test. SWC's existing $30 million Coinbase facility carries no fixed maturity but is secured against Bitcoin, meaning a material price decline could require additional collateral. The company's mNAV of roughly 1.06 times leaves a narrow cushion for any equity raise before dilution enters the BTC-per-share calculation. On a per-share basis, the math was negative under both relevant denominators. Gross Bitcoin exposure fell 6.18% per legally issued share to 725.90 sats, and 4.17% per management-defined fully diluted share to 750.41 sats, according to CryptoSlate calculations. The company's own Quarterly Gross BTC Yield for the third quarter came in at negative 4.35%, which Webley attributed primarily to the convert repayment. The original structure required at least 98% of the subscription proceeds to be deployed into Bitcoin, and SWC deployed 100%. The repayment therefore corresponded to the full 177.89 BTC acquired with the instrument. SWC sold those coins and paid $11,698,540 in cash rather than transferring Bitcoin in kind. The next challenge for SWC is replacing the capital. Equity works best for a Bitcoin treasury company when shares can be sold at a sufficient premium to the Bitcoin value per share. Near or below net asset value, issuance can increase nominal Bitcoin while reducing exposure per share. Recent examples in the sector — including a B Treasury Capital preferred-share offering that left 47.7% of its shares unfilled and Satsuma's proposed Bitcoin sale and delisting — illustrate the pressure on treasury wrappers to find efficient financing. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 20:40
Bitcoin drops to $64,000 as tech earnings spark broad crypto sell-off
Bitcoin fell to $64,000 on July 23 as disappointing technology earnings triggered a broad sell-off across crypto markets. The decline dragged Ethereum, XRP and Dogecoin lower, with the Crypto Fear & Greed Index retreating into Fear territory. "$64,000 is the key support level to watch in the short term," Julio Moreno, head of research at CryptoQuant, said. "This level has been a reliable support during this bear market." The sell-off followed weaker-than-expected earnings from major technology companies, which weighed on equity markets and spilled into crypto. The Nasdaq 100 futures declined 0.3% on the session, while the S&P 500 futures fell a similar margin, leaving crypto without a macro tailwind. The US five-year Treasury yield rose to 4.33%, reflecting expectations that the Federal Reserve may maintain tighter policy for longer, a headwind for risk assets. Bitcoin's futures open interest slipped to 743,000 BTC from over 760,000 BTC earlier in the week, suggesting an unwinding of long positions rather than fresh short entries, per Coinglass data. The 30-day implied volatility index for Bitcoin, BVIV, rose for a fifth straight day, a pattern that has historically correlated with near-term price weakness since the launch of spot ETFs. The $64,000 level represents the lower boundary of a range that has held for the past week, with resistance at $66,800. A sustained break below $64,000 could open the door toward the $60,000 support zone, according to multiple analysts. The Federal Reserve's July 28-29 meeting looms as the next major catalyst, with traders watching for any shift in rate expectations that could determine whether the range holds or breaks. **ETF flows offer a counterweight** Despite the price weakness, spot Bitcoin ETF inflows remained positive for a seventh consecutive day on July 22, with $68.99 million in net inflows, according to SoSoValue data. The continued accumulation by institutional investors suggests long-term demand remains intact even as short-term macro uncertainty weighs on prices. Strategy, formerly MicroStrategy, raised $263 million through a stock sale in the prior week, easing concerns about potential Bitcoin sell pressure from its balance sheet. Bitcoin's options market showed demand for the $70,000 call option expiring Aug. 7 on Deribit, even as some traders simultaneously picked up longer-duration puts as a downside hedge. **Key levels to watch** Bitcoin's 50-day exponential moving average sits at $65,163, a level that bulls must reclaim to stabilize price action. The 100-day EMA at $68,063 represents the next resistance, while the 200-day EMA at $74,348 marks the broader recovery target. The Relative Strength Index stands at 52, above the neutral 50 threshold, indicating that bearish momentum has not fully taken control. On the upside, Maxime Seiler, co-founder and CEO of STS Digital, identified $70,000 to $72,000 as the zone to watch into month-end. This article is for informational purposes only and does not constitute investment advice.
Jul 23 2026, 19:52
Bitcoin beats semiconductor stocks by 25% as Sigel sees path to $100,000
Bitcoin rose 13% from its July low of $57,750 to trade at $65,674 as of 14:30 UTC, outpacing the Philadelphia Stock Exchange Semiconductor Index by roughly 25 percentage points this month. "The relative strength is improving, European fiscal concerns are mounting, and enthusiasm around parts of the AI trade is fading — that's a more constructive setup for Bitcoin," Matthew Sigel, head of digital assets research at VanEck, said in a CNBC interview Thursday. Bitcoin's 30-day options delta skew on Deribit has narrowed to 13% from 19% a week earlier, indicating reduced demand for downside hedges, while perpetual futures funding rates have held at a neutral 8% annualized, according to Laevitas data. Open interest stands at $111 billion with 24-hour trading volumes of $147 billion, Coinglass data shows. The decoupling from tech stocks comes as the Nasdaq-100 fell below 28,800 last week for the first time in five weeks, while the US five-year Treasury yield climbed to 4.33%, pressuring growth stocks. Sigel sees a path for Bitcoin back to $100,000, a level last tested in October 2025 before the asset fell nearly 50% to its current range. **Semiconductor weakness fuels rotation trade** The SOXX has underperformed Bitcoin by roughly 25 percentage points in July as investors rotated out of AI-exposed names amid concerns over excessive valuations in the sector. Shares of memory-chip makers and AI infrastructure plays have declined, with the sell-off accelerating after a string of earnings that failed to justify elevated price multiples. Strategy, the largest corporate holder of Bitcoin, raised $263 million in cash last week through an at-the-money stock offering, bringing its reserves to $3.22 billion, according to company filings. The move eased concerns that the firm might need to sell Bitcoin to meet its $1.76 billion annual dividend obligation to preferred perpetual equity shareholders. **Key levels and the Fed catalyst** Bitcoin faces immediate resistance between $67,000 and $68,000, with a breakout above that zone opening a path toward $70,000 to $72,000 by month-end, according to Maxime Seiler, co-founder and CEO of STS Digital. On the downside, $64,000 serves as near-term support, with $60,000 representing the level "the market cares about," Seiler said. The Federal Reserve's July 28-29 meeting is the next major catalyst, with traders pricing in a potential rate decision that could resolve Bitcoin's current range-bound trading, Seiler added. Julio Moreno, head of research at CryptoQuant, identified $64,000 as support and $72,000 as resistance, noting these levels have been "reliable support and resistance levels during this bear market." Bitcoin's 30-day implied volatility index (BVIV) has risen for five consecutive sessions, a pattern that has historically preceded price declines since the launch of spot ETFs, according to CryptoQuant data. However, the narrowing put-call skew suggests fear is gradually evaporating from the options market. This article is for informational purposes only and does not constitute investment advice.