Why Crypto is Up Today

Crypto analyst Lark Davis highlighted Solana’s strong technical move, noting an “epic bounce” off the 50-day EMA that quickly pushed price back to the $205 resistance line. According to Davis, if Solana manages a daily close above $205, it would trigger a breakout setup with targets at $220 and $240. However, he also cautioned traders to watch for possible rejection at this resistance level. In that case, a pullback to the 20-day EMA near $185 could present an ideal re-entry point. Davis concluded that Solana is shaping up to be the “catch trade” among major altcoins, drawing attention from market watchers looking for momentum plays.

Bitcoin advocate Dennis Porter has emphasized that any meaningful changes to Bitcoin’s code must have the backing of the community. According to him, broad support from users is essential to ensure the network’s integrity and stability. Porter cautioned that if a proposed change faces significant opposition, developers and stakeholders should consider pausing, altering, or even canceling it. He added that the worst course of action would be to ignore user resistance, as this could undermine trust in the decentralized system. His comments reflect the long-standing principle that Bitcoin’s strength lies in its consensus-driven governance, where users, miners, and developers all play a critical role in shaping its future.

If the current Elliott Wave count is correct, #XRP may have already completed waves 1 and 2—setting the stage for a far more aggressive wave 3 to the upside. Traders are watching closely to see if the breakout begins this weekend or early next week. Adding fuel to the momentum, falling September rate cut odds are boosting risk assets across the board, with XRP standing out as a top candidate for a sharp rally.

Seven asset managers have filed amended S-1 forms for spot XRP ETFs with the U.S. SEC on August 22, 2025. The list includes Grayscale, Bitwise, WisdomTree, 21Shares, Franklin, CoinShares, and Canary, signaling a united push to bring XRP ETFs to market. The coordinated timing strongly suggests that issuers are responding to direct SEC feedback, aligning their filings with regulatory expectations. Market analysts believe this synchronized wave of applications significantly raises the odds of XRP ETF approval, potentially paving the way for broader institutional adoption.

#BTCUSD briefly spiked on Friday as a weaker DXY boosted momentum, but the broader outlook still leans bearish. Price tapped into the supply zone at 116,500–117,800 before showing rejection signs. Analysts see downside targets at 112,000 and 108,500, with invalidation above 118,200.

Ethereum’s surge to fresh all-time highs could soon trigger a major shift back into Bitcoin. Analysts suggest the rotation will begin with a correction in BTC this September, followed by a powerful rally in October. If this plays out, Bitcoin could regain dominance just as the altcoin market peaks.