Cryptocurrency Shenanigans: XRP, Solana, and Zetachain – Oh My!

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Ah, the cryptocurrency market! A place where fortunes are made, lost, and occasionally misplaced in the couch cushions. This week, we have a veritable cornucopia of catalysts, including the Federal Reserve and Bank of England’s interest rate decisions, the ongoing melodrama between Iran and Israel, and the tantalizing prospect of Bitcoin and Ethereum ETF inflows. Grab your popcorn! 🍿

In this delightful romp through the digital coinage, we shall explore the top three cryptocurrencies to keep an eye on this week: Solana, Ripple, and Zetachain. Buckle up, it’s going to be a bumpy ride!

SEC Ruling on Franklin Templeton’s XRP ETF: The Waiting Game

Ripple (XRP) is the cryptocurrency equivalent of that friend who always shows up late to the party. This week, the Securities and Exchange Commission will finally deliver its ruling on Franklin Templeton’s ETF proposal on June 17. Spoiler alert: the most likely outcome is a postponement, because why make decisions today when you can procrastinate until tomorrow?

Most crypto traders, with their crystal balls and tea leaves, believe that the agency, under the watchful eye of Paul Atkins, will eventually approve these ETFs by the end of the year. Polymarket odds of this approval have jumped to almost 90%, which is about as reliable as a weather forecast in a fantasy novel.

As for Franklin Templeton’s XRP ETF decision, it comes at a time when the coin has been consolidating like a cat in a sunbeam. It has formed a symmetrical triangle on the daily chart, which could mean a big breakout or a dramatic breakdown—like a soap opera, but with more numbers and fewer dramatic pauses.

XRP has been consolidating for 7 months since it pumped 700% after breaking out of the 7-year pennant, which I predicted.

It has now reached the end of its healthy consolidation period.

The next major move will begin soon and should align with Bitcoin breaking the 8-year line.

— Crypto Michael (@MichaelXBT) June 15, 2025

$275M Token Unlock: Solana’s Moment of Truth

Solana (SOL) has taken a bit of a tumble, dropping 21.7% from its May highs, which means it’s officially entered the local bear market. This crash has coincided with the ongoing sell-off of most of its meme coins—because who doesn’t love a good meme? 🐶

This week, Solana will be in the spotlight as the network unlocks tokens worth over $275 million on Saturday. These tokens represent about 0.36% of its float, which is a fancy way of saying, “Here’s some money, but don’t spend it all in one place!”

Still, the technicals suggest a potential rebound for Solana, as it has formed a bullish flag pattern on the daily chart. This rebound will be confirmed if the token rises above the upper side of the descending channel at around $160. Fingers crossed! 🤞

Zetachain Token Unlock: The Final Countdown

Zetachain (ZETA) has been on a downward spiral, hovering at its lowest level this year. It has plunged by over 80% from its highest point in 2024, partly due to its substantial monthly unlocks. These unlocks increase a token’s supply, which is risky—like juggling chainsaws while riding a unicycle.

This week, ZETA will also be in the spotlight as it unlocks tokens worth $8.6 million, representing 5% of the float. The daily chart shows that ZETA has pulled back from a high of $0.3120 in May to a mere $0.20 today. It has valiantly failed to move below that support level three times since March, forming a triple-bottom pattern. So, if it holds the support at $0.20, we might just see a bounce back this week. Or not. Who knows? 🤷‍♂️

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2025-06-15 22:07