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VanEck Predicts that a Bitcoin Reserve Would Pay 36% of US Debt by 2050: Report

Albert Brown
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VanEck Predicts that a Bitcoin Reserve Would Pay 36% of US Debt by 2050: Report

Asset manager VanEck suggests that the United States will cut its national debt by a staggering 36% if the country adopts Bitcoin as a reserve asset.

The US President-elect, Donald Trump, has described Bitcoin as the cryptocurrency of the future. Notably, he has often teased using Bitcoin to pay for the growing national debt.

Other Bitcoin advocates in the United States also share a similar sentiment. For context, Senator Cynthia Lummis has argued that the premier crypto asset would facilitate a debt-free America, providing a better economic environment for future generations.

Amid these discussions, multi-billion asset manager VanEck has shared a template showing the impact of Bitcoin adoption on the national debt. According to a recent report, the US could use Bitcoin to reduce up to 36% of its deficit in the next 26 years.

Pros and Cons of Bitcoin Strategic Reserve

VanEck’s analysis hinges on Senator Lummis’s Bitcoin Act bill, which proposes buying 1 million bitcoins over five years. The asset manager noted that the US could finance the purchases through executive action while the legislative deliberation is underway.

The leading asset manager also stressed that the US could hold the first 200,000 tokens through confiscated bitcoins. The purchase of the remaining 800,000 tokens could come from re-evaluating the country’s $693 billion gold stash and possibly unlocking capital through its sales. Further, the purchase could also come from the $49.7 billion Exchange Stabilization Fund (ESF) signed off by the Treasury Secretary.

Meanwhile, VanEck noted that if Bitcoin appreciates 25% annually from its $200,000 base price in 2025 and the US acquires 200,000 BTC yearly, its stash would be worth $42.4 trillion by 2049. Also, if the US debt grows by 5% from $37 trillion next year, it will reach $119.3 trillion in the next 26 years.

Hence, accruing 1 million BTC over the next five years would slash the US debt by an impressive 36%. Furthermore, if the world’s wealth appreciated by 7% from its current $900 billion valuation, Bitcoin will capture 18% of the global financial market with a 25% yearly growth rate.

Analysts Affirm to the Bitcoin Reserve Ploy

Meanwhile, VanEck’s analysis came after supporting the Bitcoin reserve ploy. Matthew Sigel, the head of asset research at VanEck, revealed that the asset manager fully backs the idea of a strategic Bitcoin reserve in the United States. 

Furthermore, SkyBridge managing partner Anthony Scaramucci also supported the creation of the Bitcoin reserve. The pro-crypto businessman noted that the stockpile would become a reality, insisting that Bitcoin’s current price is meager compared to its expected upsurge when the reserve effects.

Interestingly, the Bitcoin Policy Institute has drafted an executive order to establish a strategic Bitcoin reserve under the ESF, sparking global FOMO. Following the US involvement, several countries are now considering the innovation.

Here is Only Reason XRP May Never Reach $1,200

Sam Wisdom Raphael
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Here is Only Reason XRP May Never Reach $1,200

A crypto commentator details why XRP might face a significant challenge of reaching $1200 if it looks to replicate the Bitcoin rally from November 2011 to 2013.

Notably, XRP has been on an impressive upward trajectory since the U.S. elections in November 2024. During the elections, which saw pro-crypto candidate Donald Trump claim victory, XRP traded at $0.5035. 

Since then, the token has surged 336% to $2.21, outperforming most top-tier crypto assets. This rally has triggered a renewal of optimism, with some market participants predicting future prices as high as $27 and even $100.

In the latest commentary, market analyst Steph recently presented the idea of XRP claiming a highly ambitious $1,200 price level, questioning why XRP could not replicate Bitcoin’s historical performance from late 2011 to late 2013. 

Bitcoin’s Historical Price Surge

He shared a chart detailing Bitcoin’s price increase within this timeframe. For context, in late November 2011, Bitcoin traded at just $2. However, by August 2012, it reached $16, marking a 700% gain. 

After a brief pullback from this peak, Bitcoin surged to $259 in April 2013, representing a 12,850% increase from its 2011 price. Interestingly, the rally continued, and Bitcoin hit $1,200 in November 2013, achieving an overall gain of nearly 59,900% within two years.

With XRP now trading for $2.2, Steph, who has always been vocally bullish on the altcoin, questions why it cannot replicate this uptrend. Notably, XRP demonstrated its penchant for growth when it saw a more substantial upsurge from $0.005 to $3.31 in the 2017/2018 run.

Major Challenge for XRP

Responding to Steph, Nathan Goldstein, a real estate investor and Bitcoin advocate, argues that XRP’s circumstances differ, making a similar rally highly improbable.

Goldstein highlighted XRP’s much larger supply as a major limiting factor. For context, XRP has a maximum supply of 100 billion tokens, with 57.25 billion currently circulating. If XRP reached $1,200 per token, its fully diluted market cap would soar to $120 trillion.

However, it is important to consider the total M2 global money supply. Goldstein suggested that this metric stood at $129 trillion by Q2 2024, but latest data indicates that this figure currently stands at $104 trillion. 

This suggests that XRP’s fully diluted market cap of $120 trillion at a price of $1,200 per token would be 15% higher than all the money available in the world. Also, considering the circulating supply of 57.25 billion, a $1,200 price would put XRP’s market cap at $68.7 billion, 66% of the global M2 money supply.

In contrast, Bitcoin’s market cap at its $1,200 peak in 2013 represented just a fraction of global currency. Bitcoin had a circulating supply of 12 million tokens by November 2013, according to data from Statista. This means its market cap was around $14.4 billion when the price hit $1,200 in November 2013.

Here is How High Dogecoin Can Rise if Bitcoin Reaches Gold’s $17.73T Market Cap

Lele Jima
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0

Dogecoin price could surge above this price if DOGE closely follows Bitcoin’s performance, especially if BTC equals gold’s market cap of $17.73 trillion. 

Dogecoin has shown strong signs of recovery since the recent market correction that wiped out over $1 billion worth of investment. The dog-themed token had its fair share of the price decline, plunging from around $0.4, where it has traded for several weeks, to $0.26 yesterday. 

Interestingly, DOGE quickly recovered, soaring above the $0.3 mark. At the time of writing, the token is trading at $0.3407, reflecting an increase of 9.74% over the past 24 hours. 

Bitcoin’s Impact on Dogecoin 

It is worth mentioning that Bitcoin’s price actions have largely influenced Dogecoin’s recent performance. For context, the price of Dogecoin usually plunges anytime Bitcoin declines and rises when the premier cryptocurrency rallies. 

According to data from IntoTheBlock, Dogecoin has had a 97% correlation with Bitcoin over the past 30 days, suggesting that the firstborn memecoin closely follows the price movement of the world’s largest cryptocurrency. 

Dogecoin correlation with Bitcoin
Dogecoin correlation with Bitcoin

Although Bitcoin recently had a negative impact on Dogecoin’s performance, this dynamic could shift if BTC reaches some of the lofty targets set by top market observers. 

Bitcoin Price if it Equals Gold Market Cap 

For instance, Bitcoin has been projected to equal the valuation of gold in the future. Data from CompaniesMarketCap show that gold has an estimated valuation of $17.73 trillion, positioning it among the world’s largest assets. However, Bitcoin is valued at $1.95 trillion at the time of writing. 

With Bitcoin projected to equal gold’s market cap, it must soar by 809.23% from its current valuation to achieve this feat. If this forecast comes true, Bitcoin’s price could soar to a whopping $897,200 from the current level of $98,677. 

Dogecoin Price if Bitcoin Equals Gold Market Cap 

Notably, Bitcoin’s potential equalization of gold’s market cap will also have a major impact on the performance of other crypto assets, including Dogecoin. Since Dogecoin has a strong correlation with Bitcoin, it could benefit more from this potential surge.  

Consequently, we estimated how much DOGE would be worth if Bitcoin’s potential valuation reached $17.73 trillion, equal to gold’s market cap. 

With Bitcoin expected to soar by 809.23% to equal gold’s market cap, Dogecoin will set a new all-time high (ATH) if it experiences a similar growth rate. 

Should Dogecoin rally by 809.23% from its current price of $0.3407, it will trade at $3.09 per token, surpassing the previous ATH record of $0.73 by 323.28%. At the $3.09 price target, Dogecoin’s market cap will soar to $456.35 billion from its current valuation of $50.18 billion. 

Dogecoin to $3 Forecast 

The $3.09 target aligns with previous predictions set by top analyst Javon Marks. The expert, who referenced Dogecoin’s historical performance, projected that the asset would rally to a conservative target of $3 this bull cycle. 

Additionally, renowned crypto chartist Ali Martinez forecasted that Dogecoin might soar to the $3 mark under favorable market conditions. However, the expert did not specify a timeline for this surge. 

Meanwhile, analysts at Changelly forecasted that Dogecoin will soar to $3.03 by January 2033, almost nine years from now. While this analysis looks enticing, it should not be taken as investment advice. 

Singularity Finance And Zoth Team Up To Launch Tokenized Real World Asset ZLTN Prime

Albert Brown
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Singularity Finance And Zoth Team Up To Launch Tokenized Real World Asset ZLTN Prime

AI blockchain Singularity Finance has announced a partnership with Zoth, the leading developer of on-chain tokenized products for institutions. The collaboration has seen the launch of Zoth Tokenized Liquid Notes Prime (ZTLN-P), a tradable RWA backed by U.S. Treasury ETFs and money market funds (MMFs). ZTLN Prime offers institutional investors a secure solution for acquiring treasury assets while generating consistent returns.

ZTLN-P was developed by Cogito, initially under the name of TFUND. Following Cogito’s merger to form Singularity Finance, TFUND will now be issued as ZTLN-P via Cogito’s tokenized fund Ergo Sum SPC. The launch of ZTLN-P will complement Singularity Finance’s product suite, which includes treasury management solutions for individuals and entities, alongside other tokenized funds.

Using the Blackrock-managed iShares ETFs and MMFs, with a focus on U.S. Treasury bills, ZTLN-P delivers low-risk returns with deep liquidity – qualities that are typically in short supply when it comes to DeFi yields.

T-Bills Get the Tokenization Treatment

ZTLN-P represents a class of tokenized fund shares managed by established asset managers. This structure offers institutional investors exposure to low-risk, yield-bearing securities.

The launch of ZTLN-P, through a collaboration between Zoth and Singularity Finance, provides a first taste of what the Singularity ecosystem will be bringing to market in the months ahead as its scalable L2 gets up to speed. In addition to supporting AI assets, Singularity Finance will seamlessly integrate RWAs with decentralized infrastructure using secure and compliant onchain infrastructure.

For Singularity Finance, this partnership represents a further step in integrating real-world assets with AI-focused and data-intensive applications. By leveraging its tokenization framework, Singularity Finance aims to eventually facilitate the tokenization of assets tied to the AI economy.

Onchain Treasury Management for Institutional Players

One of the reasons why the introduction of ZTLN-P is likely to appeal to institutional investors is on account of the best-in-class treasury management built in courtesy of Singularity Finance combined with Zoth’s sophisticated tokenization framework. This is designed to give investors access to optimized DeFi yields while ensuring strict compliance. As a result, asset managers and institutional investors can efficiently manage their treasury while generating consistent returns.

Zoth CEO Pritam Dutta explains: “ZTLN-P is an industry-driven product that aligns institutional-grade short term investments such as Blackrock iShares Treasury Bond ETF with the efficiency and transparency of blockchain. With Singularity Finance’s one-of-a-kind expertise, this partnership marks the beginning of a new era where DeFi is no longer a speculative market but a legitimate alternative to traditional finance.”

Why RWAs Are on the Rise

Until recently, most decentralized finance use cases centered on native crypto assets with inherently volatile prices. The introduction of stable, yield-bearing RWAs onto public blockchains signals the start of a new chapter. Institutional participants are more comfortable engaging with assets they recognize and trust, and the legal clarity provided by regulated structures like Ergo Sum SPC’s mutual fund should further encourage institutional participation.

Instead of relying on complex yield farming schemes or highly volatile crypto assets, institutional players can now turn to tokenized notes representing real-world bonds and treasuries. This structure not only mitigates risk but also opens the door to a larger pool of sophisticated investors who require robust custody and a clear legal framework.

Build It and They Will Come

The collaboration between Zoth and Singularity Finance is part of a broader trend for DeFi platforms forming partnerships that marry versatile tokenization frameworks with and strong GTM strategies. As more regulated entities participate, the quality of onchain offerings will improve, further lowering the barriers for institutional capital to enter.

Beyond short-term liquidity and stable yields, these integrations also pave the way for innovative financial instruments. Once the groundwork is laid with simpler, more traditional assets, the same infrastructure can be extended to more experimental territory, including tokenizing AI services, intellectual property, or data streams. By starting with stable, low-risk yields, RWAs can gain credibility and establish best practices that will ultimately help developers and entrepreneurs branch into more complex and data-driven assets.

AI Meets RWAs

For Singularity Finance, ZTLN-P marks another milestone in its ambition to tokenize not only RWAs but also the broader AI economy. As AI becomes a key driver of technological innovation, integrating AI-related data, services, and IP into decentralized finance is the next horizon. The synergy between secure, tokenized TradFi instruments and emerging AI-powered solutions could yield a new generation of financial products that provide greater stability and enhanced functionality.

AI-driven models for risk assessment and portfolio optimization could seamlessly interact with tokenized real-world assets, for example, offering algorithmically refined strategies to manage yield and capital allocation. This fusion of AI and tokenized assets highlights how different threads of tech innovation – DeFi, RWA tokenization, and AI – are rapidly coalescing. The future of all this symbiosis is still being mapped out, but the early signs are promising.

Here’s How Much Shiba Inu You Need to Hold to Retire Early 

Lele Jima
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Here’s How Much Shiba Inu You Need to Hold to Retire Early 

This article assesses how much people need to invest in Shiba Inu to reach the $2 million retirement threshold in the United States. 

Many individuals hope that investing in cryptos like Shiba Inu (SHIB) will help them retire early. The amount of money required for early retirement depends on an individual’s location or appetite.

For instance, someone living in a country with less cost of living may comfortably retire with a $700,000 net worth. However, this cannot be said about someone residing in a high-income country like the United States. 

According to a CNBC report published earlier this year, retiring in Hawaii for 25 years requires a net worth of $2 million. This is the highest retirement threshold for any U.S. state. Despite this, the CNBC report set the average amount required for retirement in the U.S. at around $1 million. 

How Much Shiba Inu Required for Early Retirement 

An investor using Shiba Inu as a retirement strategy might achieve the $2 million retirement threshold based on their initial investment in SHIB, the price of entry, and the future surge in the asset. 

This assessment considers three price target scenarios on how an investor can hit a net worth of $2 million by investing in Shiba Inu. 

$10,000 Investment in SHIB at $0.000022

At the current price of $0.000022, a capital of $10,000 will fetch an investor 454,545,454 (454.54 million) SHIB. To reach the $2 million retirement threshold with a portfolio of 454.54 million Shiba Inu tokens, SHIB’s price must surge to $0.0044. 

This represents an outstanding surge of 19,900% from the current price of $0.000022. At $0.0044, Shiba Inu will sit on a market cap of $2.59 trillion, surpassing Bitcoin’s current valuation of $2.01 trillion by 28.85%. 

While Shiba Inu has shown it has strong growth prospects, its circulating supply of over 589 trillion tokens could pose a major challenge to its potential surge to $0.0044. 

$50,000 Investment in SHIB at $0.000022

Therefore, investors who wish to retire early upon hitting the $2 million threshold need to invest more than $10,000 in Shiba Inu at its current price. 

For instance, an investment of $50,000 into Shiba Inu today will procure 2,272,727,272 (2.27 billion) SHIB tokens. This investment will rise to $2 million if the price of SHIB surges 3,900% from the current price of $0.000022 to $0.00088. 

Shiba Inu’s market cap will stand at $518.54 billion at this target, placing SHIB as the second-biggest cryptocurrency based on current realities. 

$100,000 Investment in SHIB at $0.000022

Furthermore, investors can also make a significant investment of $100,000 in Shiba Inu to quickly reach the retirement threshold of $2 million.

Notably, purchasing $100,000 worth of SHIB at the current price of $0.000022 will fetch 4,545,454,545 (4.54 billion) SHIB tokens. This portfolio of 4.54 billion SHIB will be worth $2 million when SHIB’s price rises 1,900% to $0.00044 per token.

At a target of $0.00044, Shiba Inu’s market will stand at $259.27 billion, assuming the circulating supply remains fairly stable at 589.25 trillion tokens.

Despite how lucrative this assessment seems, Shiba Inu is not guaranteed to hit any of the abovementioned targets, including $0.0044, $0.00088, or $0.00044, anytime soon. 

Therefore, crypto investments should be approached with caution, especially when considering them as a strategy for early retirement. 

Analyst Identifies Timeline for XRP to Hit $41, Citing Tesla Path with a Factor of 10

Sam Wisdom Raphael
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Analyst Identifies Timeline for XRP to Hit $41, Citing Tesla Path with a Factor of 10

Market commentator EGRAG believes if XRP follows Tesla’s price direction from 2018 to 2023, its price could skyrocket 1,667%.

A recent analysis has identified similarities between Tesla’s (TSLA) historical price movements and XRP’s current trajectory, suggesting a major rally could follow its ongoing correction. 

Interestingly, this market commentary comes from analyst EGRAG, who believes XRP could mimic Tesla’s path, potentially reaching a price of $41 within the next 91 days.  

Tesla’s Historical Rally  

Market data confirms that in December 2018, Tesla saw a massive price drop after CEO Elon Musk appeared on the CBS program “60 Minutes.” The stock fell to $12 during a corrective phase but later staged a remarkable recovery. 

Over the next 912 days, Tesla witnessed an impressive rebound. After reclaiming the previous high of $24, Tesla soared to hit a resistance level of $58 in April 2020. It immediately surpassed this level, claiming a top of $170 by late 2020 and then the ultimate peak of $410 in November 2021.

XRP Could Follow a Similar Path

EGRAG identified similar circumstances in XRP’s market. He noted Ripple CEO Brad Garlinghouse’s December 2024 appearance on the same program and a subsequent price drop. 

While the chart suggests XRP’s decline may continue in the short term, EGRAG believes it mirrors Tesla’s early struggles before its explosive rally. As of today, XRP trades at $2.22 after a 1.97% gain, still far below its December 3 peak of $2.90. 

XRP and Tesla 1M Charts EGRAG Crypto
XRP and Tesla 1M Charts | EGRAG Crypto

This decline, accelerated by hawkish comments from the Federal Reserve, places XRP roughly 20% below its recent highs. The chart analysis also highlights a critical support level at $2.1244, which could play a pivotal role in XRP’s recovery.

Meanwhile, EGRAG anticipates a steeper correction, with prices potentially dropping to $1.20 before a rebound. Despite these bearish movements, the analyst remains optimistic about a massive rally following this phase. 

According to his projection, following the projected drop to $1.20, XRP could reclaim the $2.4 mark and then soar to $5.6, a new all-time high. Beyond this level, EGRAG expects an XRP rally to $17 before eventually claiming the ultimate $41 target in 91 days.

EGRAG justified the 10X factor by stating that crypto moves faster than stocks, reducing Tesla’s 912-day rally to 91 days for XRP. With XRP currently trading for $2.32, a rally to $41 would demand a massive 1,667% upsurge.

Expert Explains Why You Need to Hold at Least 1,000 XRP

Abdulkarim Abdulwahab
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Expert Explains Why You Need to Hold at Least 1,000 XRP

Edo Farina, CEO of Alpha Lions Academy, recently shared compelling insights on the significance of holding at least 1,000 XRP for long-term success. 

In a video update, Farina emphasized that XRP’s utility and adoption potential make it a cornerstone of the ongoing financial transformation. In parallel, he urged investors to secure their holdings before prices escalate.

The Case for 1,000 XRP

Farina believes 1,000 XRP is a critical benchmark for investors aiming to capitalize on the “greatest transfer of wealth in history.” 

While this amount currently costs around $2,300, Farina argues that its long-term value could grow exponentially as XRP’s utility expands. 

With central banks partnering with Ripple and the XRP Ledger poised to become integral to the next-generation financial system, Farina suggests that the digital asset’s price could soar to $10, $100, or beyond.

“Most investors will sell too early,” Farina noted, pointing out a common mistake he has observed among retail traders. He cited the case of some holders who cashed out on their XRP at $0.80 and $1 in November, expecting a retracement that never came.

Farina stressed that this emotional decision-making could cost them significant gains as XRP reaches its full potential.

Avoiding Common Pitfalls

Farina also highlighted a critical error many investors make: leaving their XRP on exchanges. He warned that exchange-held XRP could be vulnerable to supply shocks or liquidation events, as demonstrated in a recent incident where some exchanges failed to cover short positions.

To mitigate these risks, Farina urged investors to store their XRP in cold wallets and manage their private keys. “Don’t trust crypto exchanges,” he cautioned.

Furthermore, Farina highlighted that another benefit of holding XRP off exchanges is that it shields investors from making emotional decisions, as constant price fluctuations during bull and bear markets can take a toll on one’s mental health. He cautioned XRP holders to avoid constantly monitoring their holdings, though checking market charts occasionally is fine.

“I don’t really know how much money I have in XRP. I check the chart, but I’m not checking my wallet to see how much money I have. Yes, i have a lot of XRP, but if I’m thinking in dollars, I have no idea,” he said.

XRP Long-Term Perspective

For those willing to hold XRP through market fluctuations and resist the urge to sell prematurely, Farina believes the rewards will be substantial. He urged community members to be part of the 5%, or even the 1%, who stay invested in XRP.

“Holding 1,000 XRP could be the key to financial freedom by 2030 or sooner,” he concluded.

Market Analyst Predicts Timeline for XRP to Hit $6

Sam Wisdom Raphael
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Market Analyst Predicts Timeline for XRP to Hit $6

A notable market watcher provides a timeline for XRP to claim a price that is nearly double its 2017/2018 all-time high.

For context, XRP has been navigating a volatile market environment amid broader bearish trends triggered by hawkish Federal Reserve commentary. Fed Chair Jerome Powell’s recent statements suggested lower-than-expected interest rate cuts in 2025. 

A Steep Drop

This reality, coupled with comments around legislative restrictions barring the Fed from holding Bitcoin, has weighed heavily on the cryptocurrency market. 

XRP responded with steep losses, plunging 9.91% on Wednesday and another 3.24% the following day. The token dropped to $1.96 on Dec. 20, but bullish momentum emerged, driving a 4.35% rebound to $2.37 at press time this morning.

Meanwhile, analysts like CryptoBull believe this correction is a precursor to a major breakout. CryptoBull has shared a chart featuring a symmetrical triangle formation and signaling that XRP may be completing its correction phase. 

According to the notable market commentator, this structure will resolve within the next week. He expects such a resolution to propel XRP to a new all-time high of $6 within days of the breakout.  

XRP’s Symmetrical Triangle 

The 1-day chart shows that the symmetrical triangle pattern developed following XRP’s sharp drop from $2.9, its seven-year peak, on Dec. 3. 

This pattern typically represents market indecision, with prices consolidating as bulls and bears compete for dominance. Notably, with XRP now close to the triangle’s apex, this position suggests a breakout is imminent.  

XRP 1D Chart CryptoBull
XRP 1D Chart | CryptoBull

The structure began with a steep decline (wave A), followed by a recovery (wave B). However, the latest correction has triggered a steeper drop to lower lows, representing wave C. 

CryptoBull’s chart suggests the impending recovery could allow XRP again retest the upper trendline of the triangle, completing wave D. Nonetheless, the chart indicates that this retest will lead to another pullback (wave E), with a recovery from this pullback potentially breaching the triangle’s resistance.

For context, key price levels in the chart include $2.4 as immediate resistance and $2.0 as a major support. A breakout above $2.4 could see XRP testing its previous high of $2.9 before targeting the $6 milestone. CryptoBull believes $6 could materialize in the next few days.

XRP Following 2017 Fractal 

In a separate analysis, CryptoBull drew parallels between XRP’s current trajectory and its historic 2017 rally. Particularly, in March 2017, XRP began a multi-month surge that culminated in an all-time high. 

The analyst suggests XRP is mirroring this pattern, having already achieved a key target of $1.96. If this pattern holds, CryptoBull says XRP could hit $6.28 by the end of December 2024. Furthermore, he predicts a meteoric rise to $40 by the end of January 2025. 

Top Trader Predicts 235% Shiba Inu Rise to $0.00005816 After Recent Fall

Elendu Benedict
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Top Trader Predicts 235% Shiba Inu Rise to $0.00005816 After Recent Fall

With the crypto market rebounding from a steep fall yesterday, a top market analyst predicts that Shiba Inu will target a massive 235% surge to a new yearly peak.

For context, crypto enthusiasts saw a scare yesterday after Bitcoin dropped over 10% in two days to around $93,000. The capsize catalyzed an altcoin market bleed, with Shiba Inu retesting the major support around $0.0002.

However, the doggy-themed token has shown resilience, rebounding strongly from support. Shiba Inu is up 28% from its low of $0.0000185 yesterday, gaining 6% this morning to trade above $0.000238.

Analyst Expects Further Upsides

Meanwhile, notable market analyst Dollars Maker has maintained that Shiba Inu has more upsides from here. In a recent TradingView commentary, the pseudonymous trader noted that he would open a long position, with entry around the Dec. 20 price lows.

Furthermore, he predicted three upside targets for Shiba Inu, including a 235% surge to $0.00005816. However, he did not provide a timeline for its actualization.

Dollars Maker speculated that Shiba Inu would chase its first target, a 92% uptick to $0.00003339. Furthermore, the meme coin will target a 163% surge to $0.00004566 before ultimately spiking 235% to $0.00005816. This third target would mark a new yearly peak for SHIB, surpassing the March 2024 high of $0.000045.

Shiba Inu Analysis
Shiba Inu Analysis

Analyst Expects Higher Prices

Meanwhile, commentaries from other analysts show that Shiba Inu will target higher prices in the short term. One of the analysts is Klejdi Cuni, who believes that Shiba Inu is showing promising signs.

The market commentator asserted that the positive vibes around the Shiba Inu ecosystem will drive the token to $0.000070 imminently. He speculated that the prolonged accumulation near the $0.00002424 support would provide the momentum needed to push the meme coin to the price target.

Moreover, Pouyan TradeFX shares a similar option, insisting that Shiba Inu is up for a power push to $0.000074. The analyst noted that Shiba Inu could break the multi-year trendline impeding its surge to higher prices and ultimately target an over 100% uptick.

Trading Mentor Commends XRP Resilience During Latest Market Crash, Says XRP is ‘Worth Monitoring’

Lele Jima
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0
Trading Mentor Commends XRP Resilience During Latest Market Crash, Says XRP is ‘Worth Monitoring’

Popular trading mentor Jacob Canfield commends XRP’s resilience during the latest crypto crash.  

The crypto market has recently witnessed one of its major sell-offs, wreaking havoc on the prices of top assets, especially altcoins. XRP was not spared in the latest downturn, as the asset gave up its third position to Tether (USDT). 

Canfield Commends XRP Resilience 

Despite plunging below the $2 mark yesterday, XRP rebounded nicely and currently hovers above $2.3. Interestingly, Canfield took to X to express admiration for the token’s resilience during the latest market bloodbath.  

“I am very impressed with how well $XRP has held up,” Canfield remarked in an X post yesterday. 

The trading mentor noted that he expected the price of XRP to remain below $2 while showing signs of ‘distribution vibes’, where large holders get to liquidate their position in the asset. 

However, he was surprised to see XRP trading above $2.3, characterizing this feat as ‘remarkable.’ Given XRP’s resilience in the latest market downturn, Canfield emphasized that XRP is ‘worth monitoring.’ 

XRP Showcases Strong Resilience Amid Downturn

XRP’s recent performance has continued to stun many investors. Last week, CNBC described XRP as the biggest winner in the Donald Trump-led crypto rally, emphasizing that the coin spiked by 370% compared to the 93% gain witnessed across the broader crypto market. 

Specifically, the price of XRP soared from around $0.5 in early November to $2.86 on December 3. However, this was followed by a significant downturn, which plunged the price to $1.90 on December 10. Interestingly, XRP rebounded from this level, soaring to $2.71 a week later, thanks to the launch of Ripple RLUSD stablecoin. 

The rally was short-lived as XRP suffered another major plunge due to Bitcoin’s rollercoaster movement. This time, it dipped below the $2 mark yesterday, plunging to an intraday low of $1.97. Like last week, XRP bounced nicely yesterday, soaring above $2.3 a few hours later. 

XRP to Resume Uptrend Soon 

Commenting on the development, popular crypto analyst Charting Guy noted that XRP’s latest price movement aligns with a similar pattern from 2017. 

According to Charting Guy, yesterday’s low might mark the end of the recent downtrend before XRP resumes its uptrend by next weekend, potentially reaching a new all-time high (ATH) by January. 

It bears mentioning that the previous all-time of $3.84 was registered on January 4, 2018. 

Whales Accumulate 80M XRP Amid Dip 

According to Ali Martinez, crypto whales, especially those holding between 1 million and 10 million XRP, took advantage of the recent dip to increase their XRP holdings. 

In particular, these investors accumulated 80 million XRP since the correction began on December 17. At the current price of $2.35, these 80 million XRP coins are worth $188 million. 

Currently, XRP is up 2.06% over the past 24 hours but down 5.73% in the past week. 

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