A crypto analyst identified as ‘Egrag Crypto’ has recently taken to X (formerly Twitter) to issue a warning to XRP investors regarding a potential bear market that could trigger a massive correction for the price of XRP. XRP Holders Prepare For More Declines In 2025 According to Egrag Crypto, XRP is expected to enter a steep bear market stage in 2025. The analyst based his predictions on a technical analysis tool he called the “Gaussian Channel,” revealing three distinct technical phases for XRP, including a Green A, Green B and Green C phase. Related Reading: Ethereum Bull Flag Breakout: ATH On The Horizon As Major Metrics Turn Bullish He noted that the bearish phase in Green A had already been completed. However, the Green B phase is expected to end by June 2025, and Green C is anticipated to conclude by January 2025. The analyst further emphasized that the aforementioned dates do not represent cycle tops but indicate the beginning of a “deep bear market phase.” He also revealed that the Gaussian Channel was a technical analysis tool used to visualize price movements of cryptocurrencies around a mean average price. The purpose of the tool is to help identify volatility, risks, and certain support and resistance levels. Additionally, analyzing the historical trends and durations of the green phases provided by the Gaussian Channel provides valuable insights that can be used to interpret future price movements. Presently, the price of XRP has remained relatively unchanged for the past few months, primarily consolidating around the $0.5 mark without witnessing any significant momentum. This lackluster performance can be attributed to the ongoing legal challenges the cryptocurrency has faced with the United States Securities and Exchange Commission (SEC) over the past four years. While Egrag crypto anticipates more bearish sentiment for XRP in the coming year, the crypto analyst also suggests that the next 3 to 12 months could present critical trading opportunities as the market evolves. He cautions XRP holders to remain vigilant and prepared for potential market volatility, which could lead to a “life-changing window.” Analyst Highlights XRP’s Resilience In a previous X post, Egrag Crypto maintained an optimistic outlook for the price of XRP. He emphasized the cryptocurrency’s strength and resilience, noting that XRP was indicating strong bullish signals in its price fundamentals. Related Reading: Bitcoin Analyst Reveals Why $57,938 Is The Level To Watch This Week He revealed that if XRP can maintain a critical position within the “Launching Channel,” a trading pattern identified by partial wicking candles and ascending consolidation, the cryptocurrency could see its value potentially surging to $6.4. Related Reading: Bitcoin Long-Term Holders Buy The Blood, Snatch Up 70,000 BTC At the time of writing, the price of XRP is trading at $0.51, reflecting an increase of 3.51%, over the past 24 hours, according to CoinMarketCap. Egrag Crypto has advised the broader XRP community to remain “calm and steady,” as the next three to six months could present significant opportunities for investors. Chart from Tradingview.com
Crypto analysts continue to be super bullish on the future of the XRP price despite its poor performance in the past. However, while some analysts have predicted price targets that, to many, seem unrealistic, others have set more conservative targets. This is the case of crypto analyst Alan Santana, who just unveiled his 6-month prediction for the XRP price. XRP Price Is Ready For A Bullish Wave Alan Santana took to the TradingView website to share his latest analysis on the XRP price. This prediction is expected to play out over the next six months as the crypto market heads into what is expected to be an explosive bull rally. Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 The crypto analyst believes that in this cycle, the altcoin may find its price moving well ahead of other altcoins. “it is likely to be one of the first to move… One of the first to move big!” the analyst said. Santana also gives reasons for this, one of them being that the waiting period between each bullish wave for the XRP price has elapsed. His analysis showed that the altcoin has usually seen a 6-8-month gap between each bullish wave. However, it had been 308 days since it saw its last bullish wave, which is well over 10 months. This means that the altcoin is more than ready for another bullish wave. He also added, “The fact that XRPUSDT went through a correction and has been consolidating for this long is considered bullish.” Furthermore, the altcoin has been on a bullish trend, recording higher lows. This is usually bullish for any asset as it suggests better support for the price as it moves upward. “Higher lows means that the bulls have the upper hand when it comes to the long-term trajectory of this chart,” Santana explained. XRP Can Move 280% In 2024-2025 The crypto analyst expects a rather rapid bullish wave for the XRP price and stated that he expects this to happen sometime in 2024 and 2025. The main reason behind this is that the accumulation phase for the altcoin is finally coming to an end. This is a sentiment that has also been shared by another crypto analyst known as U-Copy. According to the analyst, the XRP price had been in accumulation for the last seven years, but it has finally come to an end in 2024, and this end in the accumulation phase will lead to a rally. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When While U-Copy expects the altcoin to hit a new all-time high price as this accumulation phase comes to an end, which would be an at least 600% move from here, Santana has taken a more conservative stance. The analyst does expect the XRP price to break above $1, but puts the peak around $1.9 and $2. This would mean a 280-300% move from here. “Once it starts going, it will go really strong and for a very long while… People will be wondering, ‘why didn’t I buy when prices were low?’,” the analyst concluded. Featured image from CoinMarketCap, chart from Tradingview.com
Ripple is transitioning into a full-service digital asset custody provider, following its acquisition of Metaco, a Swiss-based leader in the sector, for $250 million in May 2023. This development represents a significant expansion of the fintech’s capabilities into the institutional crypto custody market—a segment that is expected to experience substantial growth over the next decade. […]
XRP, the cryptocurrency associated with Ripple, has been locked in a lengthy period of consolidation, trading between $0.300 and $0.600 for the past seven years. Despite a brief surge during the 2021 bull run that saw XRP reach a three-year high of $1.9 in April, the token has since returned to its range, lacking the bullish momentum to overcome upper resistance levels. However, some crypto analysts are now predicting a major uptrend for XRP in the coming months, potentially propelling it to new heights. Analysts Anticipate XRP Breakout A technical analyst using the pseudonym “U-COPY” on the social media site X (formerly Twitter) suggests that XRP could experience significant movement between May 15 and August. U-COPY points out that XRP has been slowly moving up from its previous low at $0.46 and is nearing the end of a long triangle formation, which has been in accumulation since 2018. The analyst believes that XRP’s real potential will be revealed in the fully formed bull cycle, with the token possibly experiencing substantial growth by the end of the year. Related Reading: Brace For Impact: Mt. Gox Set To Inject 142,000 BTC And 143,000 Bitcoin Cash Into The Market- Here’s When Supporting this bullish outlook, another analyst, Armando Pantoja, proposes that the crypto bull run could begin in September or October 2025, with XRP potentially reaching a price of $0.75. Pantoja further suggests that if former US President Trump wins the election and the Securities and Exchange Commission (SEC) eases its stance on cryptocurrencies, XRP could be propelled to higher levels. This change in regulatory dynamics, combined with the ongoing legal battle between Ripple and the SEC, may increase the likelihood of XRP gaining approval for an exchange-traded fund (ETF) similar to Bitcoin. Pantoja outlines a price range of $1-2 for an XRP ETF announcement in early 2025. If interest rates are cut multiple times during the same period, XRP could potentially reach $5-10. Ultimately, Pantoja predicts the possibility of XRP hitting $10-$20 by the fourth quarter of 2025 or the first quarter of 2026. ‘Buy the Dip’ Opportunity? According to market intelligence platform Santiment, The XRP Ledger (XRPL) has recently witnessed a notable increase in the movement of dormant tokens, signaling a potential shift in market dynamics for the token. Coinciding with the opening of May, the company’s Token Age Consumed metric reveals a spike in the transfer of old coins, reminiscent of a similar occurrence in April, just before a significant downturn in the market. During that period, XRP experienced a sharp decline in value, dropping by 16%. However, in contrast to the previous event, Santiment suggests that there is a “compelling argument” that this current surge in old coin movement might be attributed to the interest of key stakeholders looking to “buy the dip.” Related Reading: This Crypto Expert Called The Bitcoin Top in 2021, Now He’s Calling The Bottom In 2024 Furthermore, it is worth noting the growing open interest in exchanges, which has recently reached a three-week high. This uptick in open interest indicates increased active positions in XRP, potentially reflecting growing market participation and heightened trading activity. Considering these factors together—the surge in dormant token activity, the potential buy-the-dip interest from key stakeholders, and the rising open interest on exchanges—there appears to be a shift in sentiment surrounding XRP. At press time, the seventh-largest cryptocurrency trades at $0.5020, down over 7% in the past week alone and 1% in the past 24 hours. Featured image from Shutterstock, chart from TradingView.com
In a court filing on May 13, 2024, Ripple Labs has formally requested the United States District Court for the Southern District of New York to seal various documents that were submitted in connection with the SEC’s Motion for Judgment and Remedies. These documents, collectively referred to as the “Remedies Materials,” contain sensitive financial data, […]
A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to $33.5 from an initial price of $0.50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle. Analyst Forecasts Exponential Rise In XRP Price In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.” Related Reading: US Mega Banks JP Morgan And Wells Fargo Unveil Bitcoin Exposure As BTC Drops To $60,000 Egrag Crypto’s latest findings suggest that XRP could rise to $33.5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.” This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%. Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five. Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be $33.50. Similarly, he calculated new prices for XRP based on the previous percentages. It’s important to note that the price of XRP, at the time of writing, is trading at $0.5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the $0.5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours. Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to $33.5 during this cycle was highly unlikely. Possible Price Correction Ahead Of Projected Surge In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the $0.00010 threshold. Related Reading: Is The Bitcoin Bottom In? Buy The Dip Sentiment Erodes Amid Drop Toward $60,000 Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between $0.0000055 and $0.0000077. However, he also disclosed that overcoming resistance at $0.00001 would be crucial for a rebound in XRP. Token price at $0.5 | Source: XRPUSDT on Tradingview.com Featured image from Watcher Guru, chart from Tradingview.com
Expectations for the XRP price have fluctuated greatly in the last year, mostly due to the uncertainty that continues to cloud the Ripple legal battle with the United States Securities and Exchange Commission (SEC). However, bullishness has prevailed despite the altcoin’s disappointing performance in 2024, with one analyst pretending an end to what has been […]
The Securities and Exchange Commission (SEC) has submitted its remedies reply brief in its ongoing legal battle with Ripple Labs, accompanied by supporting exhibits. This filing marks a pivotal moment in the litigation as it is the final brief before Judge Torres will make her remedies ruling. SEC Files Final Brief As Decision Day Looms For […]
XRP has largely had a lackluster price movement in recent months, although it continues to show promise for real-world utility. Particularly, the price of XRP was recently rejected at $0.66 after a little surge which saw it falling back down as far as the $0.42 price level. The crypto now finds itself ranging between $0.6 […]
On-chain data recently showed that Ripple carried out its monthly escrow unlock for May. As expected, this has raised concerns about how it could affect the XRP price, especially since Ripple has been accused of manipulating the token’s price. Ripple Unlocks 500 Million XRP Tokens Onchain data revealed 500 million XRP tokens were unlocked from Ripple’s escrow on May 1. The crypto firm is known to unlock 1 billion tokens monthly, although it looks to have only unlocked half this time around. The magnitude of these tokens always raises concerns, considering the negative impact they could have on the altcoin’s price if dumped on the market. Further analysis of the on-chain data shows that Ripple sent 300 million XRP out of the unlocked tokens to an escrowed account (2Not4co2op). Meanwhile, the crypto firm sent the remaining 200 million XRP tokens to another wallet (4vt5x1o91m). Considering that the 200 million XRP tokens weren’t sent to escrow, Ripple may have plans to sell them at some point, although it has yet to do so. It is also worth mentioning that Ripple received another 500 million XRP tokens from an unknown wallet (ymFZmKxEsF). However, these funds were immediately sent to an escrow account. As such, the community can heave a sigh of relief since most of the XRP tokens Ripple received in the last 24 hours have been sent back to escrow. Talks About Ripple Dumping On The Market Resurface Following the latest token unlock, the crypto community has reignited talks about Ripple’s alleged dumping on XRP holders. The question of whether or not Ripple’s XRP sales influence the token’s price has been a long-standing discussion, with notable figures like pro-XRP crypto YouTuber Jerry Hall even accusing Ripple of intentionally suppressing the altcoin’s price with its sales. On the other hand, people like Ripple’s Chief Technology Officer (CTO) have clarified that the crypto firm’s XRP sales do not impact the crypto token’s price. Moreover, Ripple already discontinued programmatic sales, which means that its transactions cannot affect prices on crypto exchanges. Ripple also noted in its recent court filing in its ongoing legal battle against the Securities and Exchange Commission (SEC) that it had taken measures to ensure its institutional sales did not violate securities laws. This suggests that Ripple conducts its sales over the counter (OTC) to avoid further scrutiny from the Commission. At the time of writing, the token is trading at around $0.5, up over 2% in the last 24 hours according to data from CoinMarketCap. Price rises above $0.51 | Source: XRPUSDT on Tradingview.com Featured image from The Motley Fool, chart from Tradingview.com
The crypto community is witnessing a virtual showdown between Cardano Founder, Charles Hoskinson and Ripple’s Chief Technology Officer (CTO), David Schwartz. The two crypto giants are clashing over Ripple’s present regulatory challenges and the allegations surrounding the ETH Gate. Hoskinson And Schwartz Embark On Heated Debate Tensions have flared up within the crypto community as […]
Ripple has announced a major partnership with Tokyo-based HashKey DX, a consulting company of the HashKey Group, to deploy XRP Ledger (XRPL)-powered enterprise solutions in Japan’s burgeoning blockchain sector. The announcement led to an immediate 1.9% increase in XRP’s price, although this gain was slightly pared back; as of the latest data, XRP stands 1.1% higher since the news broke. The Ripple And HashKey Partnership: Details The collaboration leverages the substantial success HashKey Group has seen in mainland China. HashKey‘s blockchain-powered solutions for supply chain finance have registered over 4,000 companies, including 23 banks and 4,300 suppliers. The total transaction volume through these solutions has exceeded $7 billion, with almost $3 billion in financing transactions. In Japan, these blockchain solutions will be adapted and deployed through a partnership involving Ripple and SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. The XRPL will be the foundational technology platform. This blockchain specializes in tokenizing and exchanging both crypto-native and real-world assets. Related Reading: XRP Sees Over $12 Million Sell-Off: Whale Warning Or Buying Opportunity? Andy Dan, a representative from HashKey DX, highlighted the efficiency and suitability of XRPL for their needs, stating, “The XRPL was the ideal blockchain infrastructure for us to build our proven supply chain finance solution. With its proven enterprise track record and unmatched performance metrics, including rapid settlement speeds, low costs, and scalability, we are confident in our ability to drive meaningful transformation and introduce innovative, cutting-edge solutions for businesses in Japan.” Emi Yoshikawa, Vice President of Strategic Initiatives at Ripple, echoed this enthusiasm for the partnership: “We are excited to join forces with HashKey DX and SBI Ripple Asia to introduce XRP Ledger-powered solutions to Japan. This collaboration exemplifies our shared commitment to advancing blockchain technology and delivering tangible value to businesses.” XRP Price Analysis The initial spike in XRP’s price post-announcement reflects the market’s optimistic reception of Ripple’s strategic moves. However, the broader price action context reveals more complexity. Related Reading: Forbes Unveils 20 Crypto ‘Zombies,’ Declares Ripple And XRP Among The Undead Over recent weeks, XRP has experienced volatility, notably breaking down from a symmetrical triangle pattern on the weekly chart that began forming in September 2021. This pattern typically indicates a period of consolidation, with the eventual breakout direction suggesting the prevailing market force. Currently, the breakdown suggests that sellers have gained the upper hand, with the triangle now acting as a resistance zone. XRP faces multiple hurdles ahead as it is currently trading below several critical exponential moving averages (EMAs) – 20, 50, 100, and 200-week EMAs, all nested within the former triangle pattern. This setup presents significant resistance levels that need to be overcome for bullish momentum to resume. The Relative Strength Index (RSI), currently at 49, hovers near the neutral 50 mark, indicating that neither bulls nor bears have definitive control. This neutral position underlines the market’s current uncertainty, waiting for a catalyst that could drive the next significant price movement. Should the bulls regain control and push the price above the triangle’s resistance, the 0.236 Fibonacci retracement level at $0.68410 could initiate a shift in sentiment and potentially more robust gains for XRP. Featured image created with DALL·E, chart from TradingView.com
In the latest updates on the court case between Ripple and the United States Securities and Exchange Commission (SEC), the Magistrate Judge Sarah Netburn, has ordered strict deadlines for the regulatory agency to respond to the crypto firm’s motion. Judge Issues New Scheduling Order On Thursday, April 25, the magistrate Judge Netburn issued a new […]
In yesterday’s court filing opposing the US Securities and Exchange Commission’s (SEC) motion for remedies and final judgment, Ripple disclosed significant changes to its On-Demand Liquidity (ODL) operations in the United States. The filing clarified that its US-based ODL services have shifted from using XRP to Tether (USDT) as a bridge currency. Why Ripple Chose […]
XRP has shown notable signs of renewed bullish momentum in the market. It bounced back from a significant 11% price drop on April 12th, which took the token to its lowest level of the year at $0.4230. However, last week saw a solid 12% price recovery, with XRP outperforming the other top 10 altcoins in the market, behind only Solana (SOL) and Binance Coin (BNB). Signs Of A Strong Bullish Trend Ahead For XRP? On Tuesday, XRP hit a high of $0.5571, demonstrating its bullishness and outperforming its peers. This resurgence was paired with a spike in wallet activity, a positive sign for the token’s overall market sentiment. According to the network intelligence platform Santiment, the number of wallets holding at least 1 million XRP has steadily increased over the past six weeks, rising by 3.1%. It is now just one wallet away from reaching an all-time high (ATH). Related Reading: Standard Chartered Reaffirms $150,000 Bitcoin Price Target By Year-End In addition, crypto analyst Ali Martinez reported a notable buying spree among XRP whales, who purchased over 31 million tokens in the past week alone. This has contributed to the cryptocurrency’s price recovery, emphasizing renewed confidence in its uptrend prospects. Regarding price action, market analyst Egrag Crypto points out that XRP has formed a double bottom pattern, considered a strong bullish signal. This pattern, combined with the transition of the consolidation zone into a supply zone and the wicking area into a demand and accumulation zone, indicates a promising outlook for the token, according to the analyst. Egrag Crypto is confident that a significant price spike or “thrust” is imminent, and the analyst has updated his target to $1.4 for XRP. Critical Resistance Levels To Watch Despite initial bullish outlooks for XRP, the token has retraced to the $0.5474 price level as of the time of writing, accompanied by a 14% decrease in market capitalization over the past 30 days. Moreover, as XRP aims to reach higher levels, potential resistance barriers may impede the token’s recovery and the bullish trend. Analyzing the XRP/USD chart below reveals the immediate resistance at $0.5644, which has prevented consolidation above current levels for the past week. Related Reading: The Cardano $1 Dream: Is A Price Explosion Coming Or Just Deja Vu? After that, the final obstacle before a retest of the $0.600 zone lies at the $0.5884 level. This level previously served as a support floor for the token, leading to a rebound during the uptrend seen in March, which took XRP to its yearly high of $0.745. Conversely, monitoring the support levels at $0.52910, $0.5184, and $0.5044 is crucial. If a bearish scenario develops in the coming days, these levels may prevent XRP from falling below $0.500. Featured image from Shutterstock, chart from TradingView.com
The legal battle between Ripple and the Securities and Exchange Commission (SEC) is getting heated and, following recent developments, looks far from over. This is due to the disagreement between both parties on the appropriate remedy for Ripple’s violation of securities laws. Ripple Proposes $10 Million Fine Instead In opposition to the SEC’s motion for remedies and entry of final judgment, Ripple has proposed that the court should not impose a civil penalty of not more than $10 million. This figure represents a far cry from the SEC’s proposed judgment. The Commission had earlier asked the court to order Ripple to pay the sum of $1,950,768,364 as a pecuniary fine for violations relating to its institutional XRP sales. Related Reading: Crypto Analyst Predicts Cardano Recovery After ABC Wave Completion, Here’s The Target Specifically, the SEC proposed that Ripple pay a civil penalty of $876,308,712 alongside a prejudgment interest of $198,150,940 and disgorgement of $876,308,712, which represents the profits from its violation of the Securities Act. However, Ripple asked the court to deny the requests for disgorgement and pre-judgment interest and only focus on the civil penalty, which shouldn’t be more than $10 million. Ripple’s lawyers also laid out arguments as to why the civil penalty should not exceed $10 million. Firstly, they stated that the first tier of the statutory maximum penalties is what applies to this case “because the SEC has never alleged fraud, deceit, or manipulation and has failed in its belated attempt to show that Ripple recklessly disregarded the law.” Therefore, Ripple argued that the Commission’s request for a civil penalty of over $876 million isn’t the appropriate remedy for the first-tier structure. They added that the company’s revenue from pre-complaint institutional sales should be the only earnings considered when deciding on a remedy, which makes a civil penalty of not more than $10 million more appropriate. Accounting Error From The SEC Ripple suggested that the SEC made an error in calculating the company’s earnings while deciding on the right amount for which the crypto firm should be fined. According to the company’s lawyers, the Commission failed to “analyze or even consider any other categories of Ripple’s expenses.” Meanwhile, they allege that the SEC didn’t offer any evidence or explanation “for why cost if revenue is the only category of Ripple’s deductible expenses.” Simply put, Ripple argues that the regulator, while calculating Ripple’s earnings, didn’t consider how much the company expended before deciding that almost $2 billion was an appropriate fine. Ripple’s lawyers made this argument while stating that the SEC also erred in relying on the declaration of Andrea Fox, an accountant at the agency. They claim that the SEC never disclosed Fox as a fact or expert witness and that she wasn’t deposed during the initial discovery or supplemental remedies discovery. Therefore, they moved to strike her declaration as an “untimely disclosed expert report.” Ripple Also Opposes SEC’s Proposed Injunction As part of its entry for final judgment, the SEC had asked the court to “permanently” restrain and enjoin Ripple from “directly or indirectly conducting an unregistered offering of Institutional Sales.” Understanding how this could affect their ODL transactions, Ripple has asked the court to deny the request for an injunction. Related Reading: 3 Major Metrics To Watch Out For That Can Impact Ethereum Prices The crypto firm argues that the Commission has failed to show why an injunction is warranted. Injunctions are usually granted when there is a fear of future violations. Ripple claims that the SEC has failed to show a “reasonable likelihood of future violations.” The crypto firm’s lawyers further revealed that Ripple has “changed the way it sells XRP and changed its contracts to avoid any future violations.” To show good faith, they submitted a declaration by Ripple’s President, Monica Long, which describes the steps the company has taken to avoid future violations. XRP price recovers above $0.54 | Source: XRPUSDT on Tradingview.com Featured image from Coinpedia, chart from Tradingview.com
The Chief Executive Officer (CEO) of Ripple, Brad Garlinghouse, has revised his earlier ambitious prediction on the crypto industry’s future market capitalization, acknowledging that he had underestimated the market’s potential surge. Ripple CEO Underpredicts Crypto Market Cap Appearing in a recent interview with Fox Business, Garlinghouse shed light on the growth potential of the cryptocurrency market as well as its performance since the beginning of the year. The Ripple CEO was questioned about his previous optimistic forecast for the crypto industry’s market capitalization, in which he projected that the market cap would double to approximately $5 trillion by the end of the year. According to CoinMarketCap, the current global cryptocurrency market capitalization stands at roughly around $2.25 trillion. Related Reading: Here’s What Would Happen If The Bitcoin Price Fell Below $58,000 In response to the inquiry, Garlinghouse expressed his belief that his previous predictions were not overly ambitious, emphasizing the market’s potential for further growth. He admitted to underpredicting the industry’s potential market capitalization by the end of 2024, citing factors such as the current supply and demand dynamics driving additional increases. Garlinghouse noted that the current market conditions are characterized by increased demand and reduced supply, with these dynamics playing a significant role in the performance of cryptocurrencies. He disclosed that the Spot Bitcoin ETF market and the overall sentiment regarding Bitcoin’s value have significantly boosted demand for the cryptocurrency. Meanwhile, Bitcoin’s supply is diminishing due to the increasing number of large-scale investors purchasing the cryptocurrency rapidly. Additionally, the impending Bitcoin halving event is expected to further decrease the cryptocurrency’s supply. Assessing the current state of the crypto market, Garlinghouse stated that since the last six months, Bitcoin has been up by more than 250%, with further increases anticipated. He also asserted that this overperformance was largely driven by the approval and launch of Spot Bitcoin ETFs as well as the upcoming Bitcoin halving. Regulations Are Vital For Market Development Garlinghouse has disclosed that establishing proper regulatory frameworks for the cryptocurrency market would yield positive outcomes for the market in the future. He explained that one of the primary factors hindering the growth of this evolving market was the United State’s prevailing anti-crypto stance, suggesting that the country’s enforcement actions on the developing industry were “problematic.” Related Reading: Goldman Sachs On Bitcoin Halving: ‘It doesn’t Matter If It’s A Buy The Rumor, Sell The News Event’ The Ripple CEO highlighted several countries, including Dubai, Singapore and the United Kingdom, which have been proactively embracing cryptocurrencies and implementing proper regulatory systems to foster further growth in the market. Garlinghouse has asserted that the US has significantly lagged in recognizing the transformative and innovative impact of the cryptocurrency market, attributing this setback to the United States Securities and Exchange Commission (SEC) and its current Chair, Gary Gensler. Total market cap at $2.2 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from Bitcoinist, chart from Tradingview.com
In an interview with FOX Business, Ripple CEO Brad Garlinghouse detailed the company’s ambitious plans for growth over the next three years, highlighted by the launch of a US dollar-backed stablecoin and a strategic expansion in international markets amidst ongoing regulatory challenges in the United States. Ripple CEO Unveils 3-Year Growth Plan When inquired about […]
Crypto analyst Javon Marks has laid out an ultra-bullish narrative for the XRP price, predicting that the crypto token’s price could increase exponentially to triple figures. The analyst also alluded to XRP’s historical price pattern to show that this price move was possible. XRP Price Could Rise Above $200 Javon Marks mentioned in an X […]
The XRP lawsuit between Ripple Labs and the US Securities and Exchange Commission (SEC) over the status of XRP as a security is poised to escalate to the US Supreme Court. This anticipation has been reinforced by a recent ruling in the Coinbase case, which favored the SEC, as presided over by Judge Katherine Failla […]
XRP could continue a price correction in the short term as recent price action has put it rebounding against a resistance level of $0.5. On-chain data has also revealed a row of transactions from whales of the cryptocurrency in the past 24 hours, but are they bullish or bearish on XRP? These large transactions have been a mix of both, although the trading volume of each transaction could point to them being bearish rather than bullish. XRP Whales On The Move Large XRP transactions, often indicators of whale activity, have spiked recently. XRP has seen some major whale movements over the past few weeks that point to a bearish sentiment among big players amidst a price correction for the cryptocurrency in the past seven days. However, while some of these big transfers are going into crypto exchanges for a potential selloff, some are also anonymous wallets shifting huge amounts of tokens from crypto exchanges into private wallets. Related Reading: Crypto Expert Predicts Bitcoin Will Reach $650,000 Due To This Reason Whale transaction tracker Whale Alerts posted on social media platform X (formerly Twitter) instances of enormous transactions on April 16. The first notable transaction was the transfer of 158 million tokens worth $77 million from a private wallet into the crypto exchange Binance. This massive transfer into the exchange ignited worrying signs for holders hoping for a reversal from bearish momentum into a price surge. Similarly, there was a transfer of 28.9 million XRP worth $14.2 million into Bitstamp. On the other hand, Whale Alerts also indicated the outflow of XRP from Binance into private wallets. Particularly, the tracker noted the transfer of 100 million XRP, worth around $48 million, into private wallets. These transfers were made with three transfers in rapid succession, with each transfer of 33.33 million XRP worth $16.2 million. Interestingly, the tracker also noted the movement of large amounts of tokens on April 15. Overall, there were transfers of 457 million XRP worth over $234 million into crypto exchanges Bithumb, Bitvavo, and Bitstamp. The largest transaction was the transfer of 390 million tokens worth $201 million into Bithumb. What’s Next For The Altcoin? Whale transactions are very important in the world of cryptocurrencies. Prices could swing massively at any time based on the actions of a few big players. For regular XRP investors, these whale transfers highlight the volatility and uncertainty in the current price of XRP. At the same time, their movement into crypto exchanges is bearish, and they give investors a glimpse of the the altcoin’s price trajectory in the short term. Related Reading: Arkham Releases Top 5 Crypto Rich List – You Won’t Believe How Much Is Inaccessible At the time of writing, XRP is trading at $0.4986. Although currently up by 1.79% in the past 24 hours, XRP seems to be reversing after hitting $0.5 again. The altcoin is still in a price correction on the larger timeframe, as it is currently down by 18% and 20% in the past seven and 30 days, respectively. According to a crypto analyst, XRP is set to go on a massive rally to $22. Additionally, many experts believe that the price of the altcoin will experience an enormous price increase after the next Bitcoin halving. Price struggles to find support tat $0.49 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin news, chart from Tradingview.com
Cross-border payment company, Ripple has sent out an urgent message to XRP members and the broader cryptocurrency community. In its message, the payments firm warns about the risks associated with crypto scams and provides valuable information on how crypto members can identify and avoid these types of risks. Ripple Cautions About Scam Activities In a […]
XRP has struggled to a higher degree compared to the others in the top 10 cryptocurrencies by market cap and it seems like the bearish sentiment is far from over. Ripple just unlocked a massive amount of tokens from escrow, which could threaten the price further. Ripple Unlocks 500 Million XRP In the early hours of Friday, on-chain whale tracking platform Whale Alert posted two transactions carrying a notable number of XRP tokens. The first transaction saw 200 million tokens unlocked from the escrow wallet, worth $122.63 million at the time of the transfer. Related Reading: Cardano At Risk Of Crashing To $0.4 As Important Metrics Turn Bearish The second transaction came minutes later when a total of 300 million XRP tokens were also unclosed from escrow. This second tranche of tokens, being larger than the first, was worth $183.89 million at the time, bringing the total number of unlocked tokens to 500 million. Together, both transactions were worth over $300 million. These unlocks have, unsurprisingly, stirred concern in the Ripple community for a number of reasons. One of the reasons is that Ripple never does unlocks in the middle of the month. Rather, they do scheduled unlocks at the start of each month. So, these transactions have drawn the attention of the crypto community. Another cause for concern is the fact that Ripple could be selling these XRP tokens. Hence, putting more tokens in circulation and adding more selling pressure to the already struggling digital asset. However, Ripple has not shown any indication of what these unlocks could be for as there have been no transfer transactions since then, just the unlock transactions. Unlocks Can Send Price Crashing? XRP unlocks are not new to the Ripple community, as scheduled unlocks take place every month. These unlocks see 1 billion XRP tokens unlocked from the escrow according to schedule. But most times, the majority of the unlocked tokens are sent back to escrow. Related Reading: Crypto Analyst Predicts Shiba Inu Price Will Reach $0.0001 If This Happens Usually, these unlocks do not negatively affect the altcoin’s price, but that’s when the unlocks are expected. This time around, the unlocks are unplanned, leading to speculation as to why Ripple would be unlocking XRP tokens outside of the unlock schedule. So far, the XRP price seems to not be reacting to the unlock at all. It continues to trend around $0.61, with small losses of 0.91% in the last day. However, the altcoin is still seeing 4.74% gains in the last week, showing the positive upside that it saw earlier in the week. Token price at $0.6095 | Source: XRPUSDT on Tradingview.com Featured image from Linqto, chart from Tradingview.com
At the recent Paris Blockchain Week, running from April 9-11, Ripple CEO Brad Garlinghouse shared the stage with Xrpl Commons CEO David Bchiri, shedding light on a range of topics pertinent to Ripple and the broader XRP ecosystem. Key discussions focused on the prospect of a spot Exchange Traded Fund (ETF) in the United States, […]
XRP has now broken past the $0.6 price mark again after a week of price correction among major cryptocurrencies. The price increase, led by Bitcoin, has seen most cryptocurrencies turning green since the weekend. XRP, being one of the largest crypto assets by market cap, has been included in this increase. Although modest compared to […]
Crypto expert Ash Crypto has outlined his price predictions for several crypto tokens, including Bitcoin (BTC), Dogecoin (DOGE), and XRP, heading into this bull run. He also suggested that these price levels could be attained in the next 12 to 16 months. How High Will Bitcoin, Dogecoin, And XRP Rise? Ash Crypto predicted in an X (formerly Twitter) that BTC would rise between $100,000 and $250,000 by 2025. This prediction aligns with those made by other notable crypto analysts. One of them is Skybridge Capital CEO Anthony Scaramucci, who predicted in January that Bitcoin would rise to $170,000 18 months after the Bitcoin Halving. Related Reading: Ripple CEO Makes Bold Prediction For Crypto Market – $5 Trillion In 2024 Source: X Meanwhile, some other crypto analysts will argue that Bitcoin hitting $100,000 could even happen this year rather than 2025. This includes Tom Dunleavy, the Chief Investment Officer (CIO) at MV Capital, who claims that Bitcoin will rise to $100,000 by the end of this year. Tom Lee, Managing Partner and Head of Research at Fundstrat Global Advisors, also predicted that Bitcoin would rise to as high as $150,000 this year. Regarding his price target for DOGE, Ash Crypto predicted that the meme coin would rise to $1 in the next 12 to 16 months. This prediction is also a common sentiment shared by several other crypto analysts and members of the crypto community. Specifically, crypto analyst DonAlt once mentioned that “it isn’t too unlikely for Dogecoin to go to $1,” while crypto analyst Altcoin Sherpa stated that DOGE could do “something silly like go to $1 this cycle eventually.” Ash Crypto also shared his price target for XRP, stating that the crypto token could rise between $3 and $5. This price prediction, however, seems conservative, considering other predictions that crypto analysts have made for the XRP token. Crypto analyst CrediBULL Crypto recently mentioned that XRP could rise to as high as $20 in this market cycle. Meanwhile, Crypto analyst Egrag Crypto has repeatedly stated that XRP hitting $27 is possible. Undervalued Altcoins Make The List Crypto expert Michaël van de Poppe recently included Chainlink (LINK), Celestia (TIA), and Polkadot (DOT) in a list of ten crypto tokens he believes are undervalued. Interestingly, these three altcoins also made their way into Ash Crypto’s list of coins, for which he outlined price targets. Related Reading: $115-Million Bitcoin Whale Wakes Up From 10-Year Slumber – What’s Next? For LINK, Ash Crypto predicted that the crypto token could rise to between $250 and $500 by next year. LINK’s rise to such levels would undoubtedly be massive, considering it currently trades at around $17. Ash Crypto also predicted a parabolic surge in TIA and DOT’s prices, as he believes they could rise to as high as $150 and $120, respectively. DOGE price rises above $0.2 resistance | Source: DOGEUSDT on Tradingview.com Featured image from CoinGape, chart from Tradingview.com
In an effort to dispel fears, uncertainties, and doubts (FUD) that have permeated the XRP community and the broader crypto market, lawyer Bill Morgan, recently provided comprehensive insights into the legal standing of XRP. Morgan’s comments came in the wake of various court decisions that have cast a shadow over the crypto industry, with significant […]
Crypto analyst CrediBULL Crypto has laid out a bullish narrative for Ethereum (ETH) and XRP. He claimed that both tokens could rise to as high as $20,000 and $20, respectively. Additionally, he stipulated when this parabolic price surge is likely to happen. Ethereum Could Hit A Market Top Near $20,000 CrediBULL Crypto mentioned in an X (formerly Twitter) post that there is a chance that Ethereum could hit a market peak near $20,000. He further explained that ETH could attain this price level based on his belief that BTC can “realistically” see a 2x in this market cycle from its last high of $69,000 in the 2021 bull run. As such, altcoins like ETH will do “multiples of that.” Related Reading: Fantom Supply On Exchanges See Drastic Increase, A Cause For Alarm? Specifically, he foresees ETH doing a 3x to 4x of its prior all-time high (ATH) of $4,800, which puts the second largest crypto token by market cap in a price range between $15,000 and $20,000. Meanwhile, CrediBULL asserted that Ethereum will surely rise to $10,000 at the minimum. Following CrediBULL’s prediction, another X user questioned how possible it was for ETH to rise to a market cap of $2 trillion, stating that it seems “crazy.” However, the crypto analyst responded that ETH rising to such levels is a “blow off top, ” so the market cap will look “outrageous.” He jokingly added that there is a problem if the market caps don’t look outrageous. XRP Is Another Altcoin That Could Experience Exponential Growth In a different X post, CrediBULL also made a case for XRP, stating that XRP could also rise between $10 and $12 if ETH were to hit $10,000. He suggested that XRP wasn’t to be underrated despite its current underperformance, noting that XRP actually flipped ETH in terms of market cap at some point in the last cycle. Related Reading: Crypto Expert Releases List Of Top 10 Altcoins To Buy For Maximum Profit In The Bull Market Therefore, the crypto analyst added that anyone who thinks ETH hitting $10,000 is “realistic” should also believe that XRP rising to $10 is possible. In a subsequent X post, CrediBULL claimed that XRP could even rise to as high as $20 based on ETH hitting $10,000 at its current circulating supply. Again, he noted that XRP is very capable of attaining such price levels, seeing as it is a top 10 coin, which means that the market demand for it is evidently there. CrediBULL’s sentiment echoes that of Nick, the founder of Web3Alert, who previously predicted that XRP could rise to $10 since there were predictions that Bitcoin and Ethereum would rise to as high as $150,000 and $10,000, respectively. At the time of writing, ETH and XRP are trading at around $3,290 and $0.58, according to data from CoinMarketCap. XRP price at $0.57 | Source: XRPUSDT on Tradingview.com Featured image from Bitcoin Sistemi, chart from Tradingview.com
Charles Gasparino, an American journalist and a senior correspondent for Fox Business, has delivered a sobering message to XRP investors, warning them of the financial risks associated with XRP as Ripple navigates its regulatory battle with the United States Securities and Exchange Commission (SEC) Gary Gensler Could Challenge XRP Ruling In a recent X (formerly […]
In the XRP lawsuit between Ripple Labs Inc. and the US Securities and Exchange Commission (SEC), the parties have submitted a joint sealing proposal to the United States District Court for the Southern District of New York. This proposal, aimed at governing sealing issues for the upcoming remedies-related briefing, underscores both parties’ commitment to transparency […]