 ▲ Source: Coinbase X |
Coinbase has expanded its instant loan service offering loans of up to $100,000, but major altcoins including XRP (Ripple) remain under selling pressure.
According to investment-focused outlet FXStreet on February 19 (local time), Coinbase has launched a service allowing users to borrow up to $100,000 worth of USDC using XRP, Dogecoin (DOGE), Litecoin (LTC), and Cardano (ADA) as collateral, in addition to Bitcoin (BTC) and Ethereum (ETH). The feature operates through the decentralized finance (DeFi) protocol Morpho on Coinbase’s Base chain. However, compared to the $500,000 loan limit available for BTC and ETH, the collateral value for altcoins is relatively lower. Borrowers must maintain a loan-to-value (LTV) ratio of up to 86%, exceeding which exposes them to liquidation risk.
Market reaction has been lukewarm, contrary to expectations. XRP fell more than 3% from around $1.42 and continues its downward trend. In the short term, the $1.29 S1 pivot level is cited as the next downside target. On the daily chart, the Relative Strength Index (RSI) stands at 39, hovering above oversold territory, while the Moving Average Convergence Divergence (MACD) shows a shrinking positive histogram, signaling a potential bearish shift. In the event of a rebound, breaking above $1.50 will be crucial, with upper resistance near the 50-day Exponential Moving Average (EMA) at $1.70.
Dogecoin is testing a key support zone at $0.09830 below the psychological support level of $0.10000. If this level breaks, it could open the path toward $0.08790. Trading below both the 50-day and 200-day EMAs, the bearish trend remains intact, with an RSI of 42 and MACD also reflecting downward pressure. Cardano is fluctuating around $0.2750 after facing resistance at $0.3000, with the S1 pivot at $0.2289 suggested as the next support level. Analysts say a recovery above $0.3050 is necessary for a bullish reversal.
Litecoin has also declined for three consecutive sessions, hovering around $53 and threatening the psychological support at $50. The downward slope of both the 50-day EMA at $64.44 and the 200-day EMA at $83.12 reinforces a medium- to long-term bearish structure. The RSI stands at 33, nearing oversold territory, while the MACD increases the likelihood of a bearish crossover. Downside support levels are indicated at $48.06 and $45.07.
Meanwhile, the DeFi token MORPHO, which powers the lending service, has shown relative resilience. However, the 200-day EMA at $1.50 is acting as strong resistance, and the token is undergoing a correction after recently surging 10%. With an RSI of 61, buying pressure appears to be building, but whether it can break above $1.50 is expected to determine a potential trend reversal.
Disclaimer: This article is for investment reference purposes only, and no responsibility is taken for investment losses based on it. The content should be interpreted solely for informational purposes.