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Cambodia Extradites Billionaire Chen Zhi to China in Billion-Dollar Crypto Scam

Cambodian authorities extradited billionaire Chen Zhi, head of Prince Group, to China on Jan. 7 after his arrest with two associates. He is accused of orchestrating one of the world’s largest crypto scams, involving forced labor “scam factories” in Cambodia. Major Breakthrough in Transnational Crypto Fraud Investigation Cambodian authorities announced Jan. 7 that they have CoinGape

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XRP Price Update: Pull Back? or the Next Bullish Leg Up

Crypto analyst Cypress Demanincor has outlined a view that combines regulatory conditions with detailed technical analysis, arguing that the digital asset market is approaching a phase it has never experienced before. In his recent commentary, Demanincor emphasized that previous crypto bull cycles unfolded without clear regulatory frameworks, suggesting that the next sustained rally could occur under materially different circumstances. According to the analyst, regulatory clarity has the potential to alter capital flows, participation levels, and long-term market behavior, with the possibility of significant wealth creation if conditions align. ACCURATE UPDATE $XRP & $CC PULL BACK? OR THE NEXT BULLISH LEG UP https://t.co/HH13uP0ajJ pic.twitter.com/5mKJ88olQn — Cypress Demanincor (@CDemanincor) January 6, 2026 XRP Price Action Under the Microscope Alongside the broader market perspective, Demanincor provided an in-depth assessment of XRP’s current price structure, focusing on specific levels that determine whether higher prices can be sustained. He explained that recent trading activity has been defined by the interaction between buyers and established sell walls, particularly around the $2.00 area. The analyst noted that XRP recently managed to push through key resistance zones, with buyers demonstrating sufficient aggression to absorb sell-side pressure and convert former resistance into short-term support. On lower timeframes, Demanincor highlighted how trapped sell volume and follow-through buying helped XRP regain ground above the $2.28 region. He described this as a necessary development for any continuation to the upside, while also cautioning that confirmation across multiple sessions remains essential. The presence of buy imbalances and sustained volume was identified as a constructive signal, though not one that removes downside risk entirely. Macro Data and Market Sentiment Demanincor also connected XRP’s technical behavior to recent macroeconomic data. He referenced the latest U.S. ISM Manufacturing PMI reading, which showed further contraction in manufacturing activity. In his view, this data has contributed to weakness in the U.S. dollar and increased expectations that the Federal Reserve could implement multiple rate cuts in 2026. This backdrop, he said, has supported a recovery phase across crypto markets, including XRP, but remains sensitive to upcoming economic releases. Despite these supportive factors, the analyst stressed the importance of restraint. He stated that optimism must be balanced with awareness of how quickly sentiment can shift if economic data or risk conditions deteriorate. We are on X, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) June 15, 2025 Key Levels That Define the Path Forward From a technical standpoint, Demanincor identified several price zones that will determine XRP’s near-term direction. Holding above the $2.27 to $2.15 range was described as critical for maintaining bullish momentum, with a successful defense opening the door to a move toward the $2.52 area. He also pointed to higher resistance zones near $2.49 and $2.63, noting that these levels must be overcome and sustained before confidence in a broader advance can increase. Conversely, a loss of the $2.00 threshold would significantly weaken the structure, potentially exposing XRP to deeper retracements. As long as key support levels remain intact, Demanincor remains cautiously optimistic, framing the current environment as one where regulatory clarity and technical validation could converge for the first time in crypto’s history. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post XRP Price Update: Pull Back? or the Next Bullish Leg Up appeared first on Times Tabloid . CoinGape