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Welcome to the JWK show. Thank you for watching us. Buy your XRP on the Bitrue crypto exchange now. The link is in the description. Just $218 million in long positions have been liquidated in the crypto market in the last 4 hours. And cryptocurrencies continue to fall. So let's talk about it. At this point, looking at the markets, we see Bitcoin at 81,600, Ethereum at 2,418, and XRP down 3% and trading at $1.32.
And XRP continues to fall. We currently have two key support levels: the $ 1.30 and $1.24 levels. So, these are the possible target prices for XRP that it can reach, as well as the reversal levels. So be sure to keep an eye on these levels. And these levels are a great time to buy. Again , at $1.30 and $1.24.
Looking at the liquidity chart, we see a lot of shorts concentrated at the $1.80 mark. So, if XRP can break through this level, we are talking about a short squeeze for XRP. And after XRP breaks through this level, there will be a rapid upward movement. And we could easily see XRP skyrocket to $3. And the kind of movement we already saw on August 15th will happen again for XRP.
Rapid upward movement . So get ready for the inevitable short squeeze. And this is massive confirmation. We have an on-chain signal that 100% confirms the Bitcoin bull market. So, we have the Bitcoin Bull-Bear Cycle Indicator from Crypto Quant, and it is currently telling us that we are in a bull market.
And we see that historically this indicator is very accurate. It seems that the crypto bottom has indeed been passed, around June- July. And as the excess supply of XRP is absorbed, the list of XRP rich is changing and also continues to shrink. That's right, a few weeks ago it was around 44,000, and now to be in the 1% you need to have 43,747 XRP.
That 's right, again, 43,747. And to be in the 10%, which is the minimum requirement to get on this list, you need 2,081 XRP. Killah XPT, a trader we talk about quite often on this channel, is very accurate in his price analysis, and we have historical data that is quite interesting. We see Bitcoin bottoming out after the US midterm elections, and it happens earlier each time.
So, in 2014, Bitcoin bottomed 71 days after the midterm elections, in 2018, it bottomed 39 days after the elections, and in 2022, Bitcoin bottomed 13 days after the midterm elections. So, we see that every time the bottom appears earlier than expected, much faster. So, in 2026, the midterm elections are three weeks away, and based on this pattern, could we see Bitcoin bottoming out before the midterm elections this time, rather than after?
We'll see. But we also have other historical data on the charts. Very interesting . We see that starting from the July bottom after the 14th, Bitcoin is experiencing growth, a reversal. Every time after the 14th, we see a Bitcoin reversal and significant growth. So now, as we enter the fourth 14th since Bitcoin bottomed, could we see another reversal, another big jump for Bitcoin and the entire crypto market?
I hope today, the 14th, will be a turning point for XRP and cryptocurrencies. And this is further confirmation of this, as we have Jim Cramer, who is activating the " reverse Cramer". You should already know him. And Jim Cramer tweeted 2 hours ago: "The Bears are unstoppable now." So, since Jim Cramer is bearish , we should see bullish sentiment in the markets, and we should see the bears get wiped out, the bulls come back, and the markets go up again.
Right now both the cryptocurrency and stock markets are falling, there is a major drain on the stock market, SPY is currently trading at $769 after setting a new all-time high. And it's all over. The cost of living in America continues to rise: 30-year mortgage rates are at 7.5%—the highest since 2023, and inflation is 3.7% compared to 3.4%.
Diesel fuel costs $6.30 per gallon, up 72% from a year ago. And gasoline costs $4.33 per gallon, up 41% from a year ago. Electricity prices have increased by 4.4% over the last year. Fuel oil prices have increased by 74% over the last year. Food prices increased by 2.5% compared to last year, eating out by 3.5%, and credit card debt in the second quarter amounted to $1.26 trillion .
Auto loan debt in the second quarter was $1.71 trillion, and student loans were $ 1.65 trillion. All negative indicators are near historic highs, and the midterm elections are approaching. So, we'll see if Trump can win the election, but one thing is clear: no matter who's in power, things are getting worse, and it's planned.
And just in time, because we have Agenda 2030: have nothing and be happy, right? At this point, my friends, Americans are losing access to the " American dream" because of prices. Finally, Bank of America shares fell more than 8% as the US Treasury Department fined it $1.2 billion for money laundering after the bank failed to report more than $5 billion in suspicious transactions to the government , including $1 billion related to national security threats .
Of course, the bank was involved in a bunch of fraudulent financial transactions. Friends, 8% in one day is a huge collapse for a bank, especially one of the scale of Bank of America, the second largest bank. So be sure to watch out for a banking system collapse, a stock market crash, a general collapse of everything. That's all for today. I hope you enjoyed it, see you in the next video.
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