Cryptocurrency traders were battered amid recent market volatility, but Hedera (HBAR) looks poised for gains after surging nearly 10% in the past 24 hours.
HBAR has outpaced many of its altcoin peers, flipping higher as the potential of a broader recovery across stocks and crypto buoys investors.
Trading at highs of $0.15 on Monday, as volume spiked 220% to over $530 million, now sees bulls targeting further gains.
Bitcoin is hovering near key resistance around $86,000 after rebounding from last week’s lows.
The broader tone remains weak, but altcoins such as HBAR appear comparatively well-positioned to rally if the market’s recent bounce gains traction.
Cryptocurrencies sold off sharply last week, with a modest recovery into Friday’s close helping steady sentiment heading into this week.
Concerns surrounding Nvidia and the US jobs report weighed on risk assets, driving Bitcoin down to $80,000 and sending altcoins sharply lower.
Hedera (HBAR) fell to $0.12 at the trough.
However, risk assets could look past the September payrolls blip.
A notable factor is the market reaction to New York Federal Reserve President John Williams’ interest rate commentary.
Williams said the Fed may lower rates, and stocks popped.
Futures were up on Monday. Bitcoin is also looking to break above $87,000. Meanwhile, the HBAR price touched $0.15.
The chart below highlights Hedera’s technical outlook and potential support and resistance levels.
Notably, the token has climbed from the critical support level above $0.12 as seen in June.
Technically, HBAR is near a key resistance line, and if momentum holds, a push toward $0.20 and higher will open up a path to highs last seen in July 2025.
Short-term upticks across crypto could help most top altcoins, including Hedera’s price.
However, the token could also benefit from other key sentiment boosters, including adoption amid factors like the Axelar partnership.
Last week, the Hedera Foundation had integrated Axelar’s cross-chain interoperability protocol to bring more than 60 major blockchains to Hedera.
These include Arbitrum, Solana, and XRPL, and HBAR users can now transfer assets from other chains.
Integration expands users’ options for cross-chain capabilities.
HBAR is also up amid continued anticipation around 24/7 futures trading on Coinbase.
Amid increased attention on Hedera with spot ETFs in the market, Coinbase is poised to launch HBAR futures trading in early December. Price action for Hedera was upward in the wake of a similar move earlier this year. As such, the buzz is growing around HBAR.
Traction in the market amid real-world adoption is also helping catalyze the bullish resilience.
The post Hedera price forecast as HBAR jumps 10% to lead altcoins appeared first on CoinJournal.
The cryptocurrency market is poised for a new addition with the likely debut of the first spot XRP exchange-traded fund, issued by Canary Capital.
On Wednesday, Nasdaq confirmed it had accepted the Form 8-A filing for the Canary XRP ETF, under the ticker XRPC, signalling formal readiness to list the asset.
While the announcement stirred excitement among ETF watchers, the fund still lacks the US Securities and Exchange Commission’s final approval to begin trading.
This has left its launch in limbo, even as industry observers anticipate a possible debut on Thursday.
Canary’s ETF becomes the sixth single-asset crypto fund to reach this milestone following earlier approvals for Bitcoin, Ether, Solana, Litecoin and Hedera.
However, this fund’s progression highlights a more complex regulatory backdrop, influenced by recent shifts in SEC processes during the US government shutdown.
Nasdaq formally notified the SEC that it had received and filed the Form 8-A for Canary’s XRP ETF.
Bloomberg’s ETF analyst Eric Balchunas shared the update on X, stating that “The official listing notice for XRPC has arrived from Nasdaq.”
Despite this progress, the ETF has not yet received the green light to commence trading. The letter issued by Nasdaq confirmed approval of the listing but did not equate to SEC authorisation.
Observers have clarified that the letter is a procedural step and part of the process to join the registrant’s request for the fund to become effective.
Some in the crypto community highlighted the difference, noting that the Nasdaq letter does not declare the fund effective but only acknowledges the listing certification.
The SEC has not issued an effectiveness order, which means trading cannot begin until that step is completed.
Following the Nasdaq filing, Canary Capital launched its official website for the ETF.
Nate Geraci, president of NovaDius Wealth Management, posted about the development, signalling that Canary was likely to be the first to market with an XRP-backed ETF.
If approved, the XRPC ETF will join the growing roster of single-asset crypto ETFs now available to investors. These include Bitcoin, Ether, Solana, Litecoin and Hedera.
Eleanor Terrett of Crypto America also indicated on X that Nasdaq had cleared XRPC for a market open launch, which further raised expectations for an imminent debut. However, the fund cannot proceed to trading without confirmation from the SEC.
Canary’s ETF launch coincides with the recent end of the longest US government shutdown in history.
On Wednesday, President Donald Trump signed legislation that officially reopened government operations.
During the shutdown, ETFs for Solana, Litecoin and Hedera began trading under automatic effectiveness provisions.
These mechanisms allowed trading to begin without active SEC approval during periods when regulatory processes were delayed.
This approach was not used in earlier launches of Bitcoin and Ether ETFs, which both started trading only after formal authorisation from the regulator.
It remains unclear which approach the XRPC fund will follow.
Without a current effectiveness order, Canary’s ETF may be subject to additional delays, unless it qualifies under the same automatic provisions used during the shutdown period.
Although Nasdaq has certified the listing and Canary’s infrastructure appears ready, the fate of the XRPC ETF ultimately depends on the SEC.
Canary’s website launch and market interest reflect growing anticipation, but trading cannot begin until regulators give their final approval.
Although Nasdaq certified the listing and Canary Capital launched its website, the fund did not begin trading immediately after 28 October, the initially anticipated date.
Without a final effectiveness order from the SEC, the ETF remains in limbo. Until that regulatory step is completed, XRPC cannot begin trading, and the market continues to await confirmation.
The post Nasdaq certifies XRP ETF as Canary Capital prepares to enter crypto fund arena appeared first on CoinJournal.
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