Ethereum News Today: Ethereum Holds Key Support as $145M Short Liquidations Ease Pressure

Ethereum (ETH) appears to be regaining momentum as key support levels hold and derivatives-related selling pressure eases [1]. On August 3, over $145 million in ETH short positions were liquidated, easing downward pressure and stabilizing the price around $3,492 [1]. This has led analysts to highlight ETH as a potential catalyst for a broader altcoin rally, especially as institutional interest begins to show signs of increasing [1]. The number one altcoin by market capitalization is now being viewed as a strong foundational asset for future bullish movements, provided inflows and confidence remain intact [1].

Meanwhile, XRP is also drawing attention as it prepares for a potential legal breakthrough. On August 2, XRP recorded $1.35 billion in on-chain trading volume, its highest in months [1]. This surge comes ahead of a key SEC-related deadline on August 15, when Ripple and the SEC are required to submit a joint status report [1]. Some industry observers suggest the regulator may withdraw its appeal, which could significantly uplift XRP’s price trajectory [1]. Furthermore, Ripple’s stablecoin RLUSD is nearing a $600 million market cap, signaling growing institutional adoption and real-world use of the Ripple ecosystem [1].

In the altcoin space, MAGACOIN FINANCE is gaining traction as one of the most talked-about presale tokens. The project has seen rapid community growth, viral social engagement, and strong participation in its early presale rounds [1]. Analysts note that MAGACOIN FINANCE is being compared to early-stage meme tokens like SHIBA INU and DOGE due to its explosive early returns and limited availability [1]. Some analysts project potential returns as high as 13,600% in the next bull cycle, while others estimate gains of up to 3,500% based on current momentum [4][5]. These projections reflect growing enthusiasm among investors looking for early entry into a high-growth asset [4][5].

The combination of Ethereum’s technical recovery, XRP’s regulatory developments, and MAGACOIN FINANCE’s presale momentum is creating a favorable environment for altcoin investors [1]. While much of the projected returns are speculative and tied to analyst forecasts, the overall market sentiment is shifting toward assets with clear use cases and strong fundamentals [1]. The renewed interest in ETH and XRP, alongside the rising profile of MAGACOIN FINANCE, underscores a broader trend of investors seeking both established and emerging opportunities in the crypto market [1].

Sources:

[1] Ethereum Hits Record Transactions — Analysts Rank ETH, Cardano, and XRP in 2025's Best Crypto Presale Opportunities (https://coincentral.com/ethereum-hits-record-transactions-analysts-rank-eth-cardano-and-xrp-in-2025s-best-crypto-presale-opportunities/)

[4] ETH, AVAX, and MAGACOIN FINANCE Poised for ... (https://coindoo.com/eth-and-avax-momentum-builds-analysts-tip-magacoin-finance-for-13600-gains-in-the-2025-bull-run/)

[5] Crypto Insiders Predict MAGACOIN FINANCE Could ... (https://www.livebitcoinnews.com/crypto-insiders-predict-magacoin-finance-could-deliver-3500-roi-best-crypto-to-buy-now/)