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Here’s How Ripple Stablecoin Will Maintain Its $1 Price, While Schwartz Says RLUSD Will Boost Liquidity for XRP

Sam Wisdom Raphael
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Here’s How Ripple Stablecoin Will Maintain Its $1 Price, While Schwartz Says RLUSD Will Boost Liquidity for XRP

A prominent XRPL validator explains how the Ripple stablecoin RLUSD could maintain parity with the dollar.

Ripple’s newly launched stablecoin, RLUSD, has been a subject of discussion in the XRP community following its debut on four exchange partners. The launch came shortly after Ripple secured regulatory approval from the New York Department of Financial Services (NYDFS). 

While many market participants expressed enthusiasm about the stablecoin, some misunderstood its role, expecting price volatility that could create profits. However, experts have explained why RLUSD will always remain pegged at $1.

RLUSD Will Maintain Its $1 Price

Vet, a prominent XRPL validator, recently addressed these misconceptions. In a disclosure on X, Vet pointed out the mechanism behind RLUSD’s stability. Notably, he stressed that it ensures the price constantly aligns with $1. 

This mechanism revolves around Ripple’s minting and redemption process. Vet explained that if RLUSD trades significantly above $1, say $589, market participants would immediately capitalize on this. 

Institutions would mint RLUSD directly from Ripple at a 1:1 dollar conversion and sell it for profit. This selling activity would create immense sell pressure, driving RLUSD back to its intended price of $1.  

Conversely, if RLUSD trades below $1, such as at $0.589, buyers would seize the opportunity to purchase it at a discount. They could then redeem it with Ripple for its full $1 value. The resulting buy pressure would force RLUSD’s price upward until it stabilizes at $1. 

Notably, this self-correcting mechanism guarantees that RLUSD remains anchored to the dollar unless Ripple’s minting and redemption system experiences disruptions. The efficiency of this system is paramount, especially considering previous cases of stablecoin depegs like the one involving TerraUSD (UST).

Vet noted that the mechanism forms the backbone of RLUSD’s stability. The minting and redemption capability ensures no prolonged deviation from the $1 peg. As a result, those seeking quick profits through volatility must understand that RLUSD is not an investment vehicle but a reliable stablecoin.  

Previously, Ripple CTO David Schwartz recently stressed this fact, issuing a warning to market participants who would want to FOMO into the project for this reason. 

RLUSD Could Boost Liquidity for XRP

Meanwhile, Schwartz also discussed the benefits of stablecoin following the launch announcement. He emphasized that the stablecoin will enhance on-chain liquidity while expanding use cases for both RLUSD and XRP. 

According to him, the introduction of a trusted stablecoin like RLUSD will boost development and adoption on the XRPL network.  

Notable XRP community figure WrathofKahneman (WOK) also spotlighted this. He highlighted how RLUSD’s benefits extend beyond burning XRP. According to him, the stablecoin’s benefits lie in significantly boosting liquidity on the XRPL. 

This increased liquidity makes XRP more functional as a bridge currency and allows seamless value transfer between various assets. WOK noted that RLUSD’s impact could grow further as new denominations emerge. 

With additional currencies making their way to the XRPL, bridging between these assets and XRP will become simpler and more efficient. This utility strengthens XRP’s value proposition as a source of liquidity on demand.  

According to WOK, while the XRP price may see short-term upward movement due to RLUSD’s launch, this increase would reflect market sentiment rather than RLUSD’s direct usage. At press time, XRP trades for $2.57, up 7.33% over the past 24 hours.

Arkham Integrates Dogecoin Analytics, Enhancing On-Chain Insights for Users

Albert Brown
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Arkham Integrates Dogecoin Analytics, Enhancing On-Chain Insights for Users

Arkham Intelligence has announced the integration of Dogecoin into its analytics platform, offering its advanced on-chain capabilities to the meme-based crypto. 

The team emphasized the significance of this move, highlighting the limited tools available to analyze the Dogecoin blockchain despite its 11-year existence. With Arkham’s features, users will soon be able to visualize and monitor Dogecoin’s blockchain activity, trace transactions, filter data, and set real-time alerts. 

This addition expands Arkham’s supported networks to 16, allowing Dogecoin users to examine specific wallet activity and monitor addresses tied to exchanges, funds, and notable individuals.

Dogecoin’s Cultural Legacy and Adoption

Dogecoin’s cultural relevance extends beyond the crypto industry. According to Arkham, the coin, inspired by the Japanese Shiba Inu dog Kabosu—who passed away earlier this year—has achieved widespread recognition. The team also notes how the crypto has garnered attention from prominent figures like Elon Musk, who briefly replaced X’s (formerly Twitter) logo with the Doge icon after acquiring the platform. 

Additionally, the team highlights how Tesla began accepting Dogecoin as payment for merchandise, furthering its visibility in mainstream markets.

Interestingly, the acronym DOGE now coincides with the U.S. Government’s Department of Government Efficiency, a satirical nod to its cultural prominence.

Critical Vulnerability Causes Node Collapse

While Arkham expands Dogecoin’s analytical reach, the network recently faced a vulnerability exploit. A Bitcoin sidechain developer, Andreas Kohl, claimed responsibility for a hack that supposedly disabled 69% of Dogecoin nodes by exploiting a vulnerability dubbed “DogeReaper.”

This flaw relies on a segmentation fault in the network’s code, which causes abrupt program termination when unauthorized memory is accessed. However, despite the dramatic claim, the Dogecoin network remained operational, raising doubts about the accuracy of the report.

Prominent Dogecoin community member “Mishaboar” quickly refuted the developer’s assertion, explaining that the DogeReaper vulnerability had already been identified and patched two weeks earlier in a node update adopted by key participants such as miners and exchanges.

Mishaboar also questioned the validity of the data used to support the hack, noting that Blockchair’s reported node drop—from 647 to 205—was not comprehensive.

Dogecoin Eyes $0.50 as Triangle Breakout Sets Stage for Bullish Rally

Albert Brown
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Dogecoin Eyes $0.50 as Triangle Breakout Sets Stage for Bullish Rally

With a triangle pattern determining Dogecoin’s fate, will the bulls overpower the incoming selling pressure for a quick rally to $0.50?

A surge in Bitcoin’s buying activity has resulted in a new all-time high, but meme coins are struggling to initiate a rally. Dogecoin is currently stuck at the crucial level of $0.40, maintaining a sideways trend, and has fallen under a market cap of $60 billion.

Over the past month, the price has seen a positive growth of 12.76%. Amid the compression of price trends, Dogecoin is nearing a critical crossroads, hinting at a potential breakout rally.

Dogecoin Triangle Holds The Bullish Fate

The price action of Dogecoin showcases a symmetrical triangle formation on the 4-hour chart. This pattern signals indecision but also suggests that a decisive move is imminent. Dogecoin’s price is testing the lower support trendline near the 23.60% Fibonacci level at $0.395.

With a rejection at the lower price levels, Dogecoin is maintaining dominance above the psychological $0.40 mark. Thus, it remains at a potential bounce-back point within the triangle pattern.

Dogecoin Price Chart
Dogecoin Price Chart

Within the triangle, Dogecoin’s price is showing a sideways shift in momentum, trading between key levels. It struggles to break above the 38.20% Fibonacci level at $0.4098. This consolidation phase reflects coiling momentum, signaling that a high-momentum rally could follow a breakout.

The 4-hour RSI shows a minor bullish divergence with the current lower price rejection. This bullish signal increases the likelihood of a breakout rally. However, the resistance at the 38.20% Fibonacci level and the struggle to maintain a close above it remain important thresholds to watch.

DOGE Price Targets

If the broader market recovers, a bullish comeback in Dogecoin could trigger a meme coin rally. As a result, a triangle breakout could be imminent, potentially leading to the formation of a new 52-week high.

Based on Fibonacci levels, the breakout rally could target the 1.272 and 1.618 Fibonacci extensions at $0.4952 and $0.5284, respectively. Thus, a triangle breakout could see Dogecoin reclaim the $0.50 psychological level.

If the market closes bearishly below the local support trendline or the 23.60% Fibonacci level at $0.3958, the downside risk could be around 6.28%, testing $0.3732. A bearish breakdown would confirm weakness, and in case of an extended pullback, the price could dip to the $0.34 mark, resulting in a 15% pullback.

VanEck CEO Says Bitcoin Could Reach $170K in 2025 After 124% Surge in 2024, Outshining Gold and US Stocks

Abdulkarim Abdulwahab
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Jan van Eck, CEO of VanEck, has outlined a bold and forward-looking perspective on the Bitcoin and precious metals markets heading into 2025.

In a recent statement, the CEO highlighted that Bitcoin emerged as the undisputed leader in the 2024 financial market by delivering a staggering 124.4% year-to-date (YTD) return. This figure far outpaces traditional assets like gold and U.S. stocks, which both posted gains of 28.1%.

Meanwhile, Jan van Eck predicts even brighter days ahead for Bitcoin in 2025. He projected the cryptocurrency could climb to $150,000–$170,000.

Bitcoin and Gold Lead the Pack

A performance chart places Bitcoin at the forefront of the market in 2024. Gold followed at a distant 28.1%, buoyed by global central bank purchases and increasing de-dollarization trends. 

U.S. stocks kept pace with gold, while gold mining stocks trailed at 21%, and REITs posted 13.2%. Traditional assets like commodities, bonds, and international equities struggled, with most returns below 10%.

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Persistent Inflation and Fiscal Reckoning

In his statement, Van Eck stressed that the U.S. economy is at a critical juncture, marked by persistent inflation and unsustainable fiscal spending. 

The Federal Reserve’s “higher for longer” interest rate policy reflects the ongoing economic challenges, with inflation, particularly in services and wages, proving more stubborn than initially anticipated. 

While van Eck expects some short-term rate cuts, he warns that any sharp easing is unlikely unless the economy faces a severe contraction.

Van Eck’s base case scenario includes a reduction of $500 billion in U.S. government spending by the incoming administration. However, he cautions that these cuts may not be enough to eliminate the deficit. 

Inflation risks could increase without further action, leading to higher long-term interest rates and potential market volatility. As a result, Van Eck advises caution in U.S. equities, particularly large-cap stocks, which remain highly valued.

Bitcoin and Gold: Inflation Hedges for the Future

As inflation continues to impact markets, Van Eck highlighted the growing significance of Bitcoin and gold as robust hedges against fiscal uncertainty. 

Gold has benefitted from rising global demand, especially due to foreign central bank purchases. On the other hand, Bitcoin is benefiting from its halving event and its role as a decentralized store of value, with its appeal growing as investors seek alternatives to traditional financial systems.

For 2025, Van Eck’s investment strategy recommends reducing exposure to U.S. stocks and diversifying into inflation-hedging assets like Bitcoin and gold. He also advises considering alternatives such as short-duration fixed income and international equities to achieve a more balanced portfolio.

Shiba Inu To Break All-Time High Record in Current Cycle, Says Pundit

Albert Brown
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Shiba Inu To Break All-Time High Record in Current Cycle, Says Pundit

A market analyst expects Shiba Inu to breach its 2020/2021 all-time high in the current market cycle.

Amid macroeconomic and political tailwinds, the crypto market is awash with excitement, with market participants setting sights on new highs for leading assets. One influential market commentator has stoked the flames of this anticipation for the leading doggy-themed meme coin, Shiba Inu (SHIB).

Shiba Inu (SHIB) To All-Time Highs?

“CRYPTO SHERIFF” has asserted that SHIB will shatter its all-time high price record of $0.00008616 in the current bull market cycle. The influencer expressed this view in an X post on Sunday, December 15, contending that the token’s rise was “inevitable.”

The call comes despite SHIB’s consolidation after its stunning November 2024 rally. Following Donald Trump’s election victory heralding what many expect to be a pro-crypto regime in the U.S., the token surged about 98% from $0.00001687 to highs around $0.00003343.

At the time of writing, however, the token has shed some of these gains to trade at the $0.00002694 price point.

Still, CRYPTO SHERIFF is not the only analyst who has recently sounded bullish on SHIB, suggesting strong investor confidence.

SHIB Poised for 1,700% Surge?

On December 10, crypto analyst “CryptoELITES” opined that SHIB could surge to the $0.0004729 price point in the current market cycle, representing a nearly 1,700% increase from current prices. The analyst shared this outlook, citing a bullish cup and handle pattern the asset appeared to be forming on its weekly candle chart. 

SHIB/USDT weekly candle chart
SHIB/USDT weekly candle chart
Source: @CryptoELITES

The confirmation of this bullish pattern could come if the token decisively breaks above a downtrend line that has acted as a resistance level since October 2021. 

Sharing a similar analysis on December 12, another crypto analyst, “PouyanTradeFX,” suggested that failure to break above the downtrend could lead to a 62% decline to the $0.000011 price point.

Bitcoin Holds $107,000 After Mt Gox Shuffles 1,620 BTC to New Addresses

Elendu Benedict
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Bitcoin Holds $107,000 After Mt Gox Shuffles 1,620 BTC to New Addresses

Bitcoin maintains bullish momentum despite uncertainties surrounding defunct exchange Mt. Gox’s recent 1,620 BTC ($172.5 million) shuffle today.

Large crypto movements from defunct exchanges and governments usually spark fear, uncertainties, and doubt (FUD) in the market. Historical trends have confirmed this analogy, as seen when Mt. Gox and the German government moved hefty amounts of Bitcoin.

However, Bitcoin remains unperturbed today despite uncertainties from a recent shuffle. The premier asset has held above $107,000 amid a 1,620 BTC movement by defunct exchange Mt. Gox on Tuesday.

Mt. Gox Moves $172.5M Worth of Bitcoin

Data from the on-chain tracker Arkham shows that Mt. Gox moved 1,620 BTC to two new addresses on Tuesday by 02:19 (UTC). The defunct exchange transferred 191.67 BTC ($20.4 million) to address “bc1q6f” and 1,4278 BTC ($152.11 million) to “13JrY5.”

Meanwhile, the address that received 1,4278 BTC has moved the funds further, shuffling 1,320 BTC ($140.5 million) to another untagged address, “1DeYFX.” The “13JrY5” wallet also moved the other 108 BTC ($11.5 million) through multiple addresses to “1KLrcs.”

At the time of writing, the funds remain intact, indicating that the move was a mere shuffle. However, the reason for the asset’s movement is still undisclosed.

Notably, Mt. Gox has repaid a large chunk of its customers, moving over $9 billion worth of Bitcoin to its exchange partners. However, a considerable amount remains, with the repayment deadline shifted to October 2025.

Bitcoin Sustains $107,000

At the time of writing, Bitcoin continues to trade at $107,000 after a 2% appreciation in the past 24 hours. The pioneering crypto asset has sustained bullish momentum after a new all-time high of $107,464 and its highest-ever daily close at $105,750 yesterday.

Notably, Bitcoin has defied bearish speculation that it will undergo a considerable correction. For instance, Rich Dad Poor Dad author Robert Kiyosaki speculated that Bitcoin might crash to $60,000 before resuming its next bullish break.

Nonetheless, the assets have more upside. Asset managers VanEck and Bitwise have predicted that Bitcoin will surge to $180,000 and $200,000, respectively, before the end of next year.

FTX Reveals Distribution Date for $16B Repayment to Users

Lele Jima
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FTX Reveals Distribution Date for $16B Repayment to Users

FTX approaches the end of its bankruptcy process as it unveils a new date for $16 billion reimbursement to creditors.

The FTX bankruptcy estate announced the development in a recent press release, noting that the court-approved Chapter 11 reorganization plan will take effect on January 3, 2025. Per the announcement, January 3 will also serve as the initial distribution record date for holders within the plan’s Convenience Classes.

Notably, FTX will commence initial repayment within 60 days of the effective date. In preparation for the distribution, FTX agreed with two prominent crypto exchanges, Kraken and BitGo. These trading platforms will oversee the distribution of the funds to eligible customers.

Preparation for Repayment 

The announcement provided a guide on how customers and creditors will be eligible for the initial distribution. This includes completing a mandatory know-your-customer (KYC) verification process on the FTX Claims platform and submitting the necessary tax forms. 

Afterward, these users must onboard to BitGo or Kraken before the January 3 effective date. Upon completing these requirements, FTX will commence the initial distribution within 60 days of the effective date of the court-approved reorganization plan. 

The initial repayment will focus on creditors with claims under $50,000. Notably, these customers account for around 90% of all eligible creditors in FTX bankruptcy proceedings. 

The system groups them under the Convenience Classes. After the initial distribution, FTX will announce separate records and payment dates for other classes in the future. 

Previous Repayment Schedule 

It was initially speculated that creditors with less than $50,000 claims might receive repayments in Q4 2024, while those with higher claim amounts will get their reimbursement before the end of next year.

Following the latest update, users with under $50,000 worth of claims will be reimbursed within 60 days after the reorganization plan goes into effect on January 3, 2025. Separate dates are expected to be revealed for other creditor classes.

Recall that a Delaware bankruptcy court approved the FTX reorganization plan in October. The plan allows 98% of creditors to receive the USD equivalent of their FTX crypto holdings based on a 118% price of their due claims as of when the exchange officially filed for bankruptcy in November 2022. FTX could spend up to $16 billion to make its creditors whole.

Mixed Reactions Trail FTX Repayment 

Before now, crypto enthusiasts had raised concerns about FTX’s upcoming repayment, with users expressing mixed reactions. 

Some investors project that the repayment may take a devastating toll on the crypto market, as FTX may sell most of its crypto holdings to raise cash for the distribution. 

However, others believe the market will benefit immensely from the distribution exercise. These users suggest that FTX customers could reinvest some of their claims, which might come in USDT, into the crypto market.

It remains to be seen how the broader market will react when the initial distribution commences within the first quarter of next year. In the meantime, the global crypto market cap is up 0.96% over the past 24 hours to $3.74 trillion, with Bitcoin accounting for 56.6% of this valuation. 

Cardano Sentiment Turns Bearish, But Network Sees Massive 687 Transactions of $1M+

Albert Brown
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Cardano Sentiment Turns Bearish, But Network Sees Massive 687 Transactions of $1M+

Cardano (ADA) has experienced a slight 2.04% dip to $1.06 as bearish sentiment takes hold, even as whale activity continues to rise.

Despite a recent slowdown after its impressive surge over the past month, ADA retains a generally bullish outlook. The asset is trading at $1.06, showing a 2.04% decline in the past 24 hours, though it has gained 5.54% over the past week.

Decline in Sentiment For Cardano

Amid the cooling momentum, analyst Ali Martinez highlighted a bearish shift in sentiment for Cardano, with the weighted sentiment turning negative to -0.786 as of December 16.

Historically, such overly negative sentiment has been a precursor to price rebounds, indicating potential contrarian opportunities.

In addition, social mentions for ADA have declined to 206, a notable drop from previous highs. Lower engagement levels suggest waning hype and reduced public interest. Santiment data showed a similar trend in early November, preceding a rally that pushed ADA’s price to $1 on November 22.

Whale Activity and Ownership Trends

Martinez also reported a significant surge in whale activity within the past 24 hours, with 687 transactions exceeding $1 million.

This uptick in large transactions may signal accumulation among major holders, potentially influencing future price trends. Typically, increased whale activity correlates with notable price movements, while lower whale transactions often accompany sideways price action or minor retracements.

Additional data from IntoTheBlock revealed changing ownership dynamics for Cardano. Over the past month, investor concentration increased by 1.74%, indicating growing interest among mid-sized holders often viewed as long-term participants.

Retail ownership rose by 1.19% during the same period, reflecting increasing activity among smaller investors. This trend often coincides with the early stages of bullish momentum and broader market adoption.

However, whale holdings declined by 2.69%, suggesting a potential redistribution of holdings.

Bullish Projections for Cardano

Meanwhile, market commentator Dan Gambardello shared an optimistic outlook for Cardano in the upcoming bull run. He suggested that ADA could reclaim its previous all-time high of $3 and potentially surge to $7.

Gambardello even pointed to a $14 price target, which would require a market cap of $500 billion. He believes this ambitious outlook is achievable within the ongoing market cycle.

Interstingly, Cardano’s historical performance supports such projections. In the previous cycle, ADA rose from its March 2020 low of $0.01913 to a high of $3.161 in September 2021, marking a 164-fold increase. Some proponents believe the $14 target is conservative, given the asset’s past performance.

Ripple CTO Says Lowering XRPL Reserves Unlocks More XRP for All Accounts

Albert Brown
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Ripple CTO Says Lowering XRPL Reserves Unlocks More XRP for All Accounts

The Ripple CTO David Schwartz confirms that the decision to lower the XRP Ledger (XRPL) account reserve fees unlocks more XRP accounts.

As crypto adoption grows, blockchains are constantly evolving to serve users better and improve experiences. The XRP Ledger (XRPL), the blockchain behind the XRP token, is no different.

Earlier this month, the community reduced the XRPL account reserve to encourage adoption. With the evaluation of the XRPL account reserve set to be a continuous and evolving process, Ripple CTO David Schwartz, one of the key architects of the XRPL, has offered suggestions to ensure better stability and predictability for users.

Voting Configurations

in an X post on Tuesday, December 17, Schwartz suggested changes to the XRPL account reserve voting process.

For context, the XRPL account reserve refers to the amount of XRP a user must lock up to activate an account on the XRPL (the base reserve) and hold objects like NFTs (owner reserve) to prevent spamming of the network by malicious users.

The account reserve is typically decided by a fee voting process by validators. Validators can set a preferred account reserve parameter once every 15 minutes, with the network adjusting to the median of the settings of trusted validators.

 

According to Schwartz, however, the voting process has one problem: it requires validators to be active to change their preferences.

The prominent XRPL figure contends that in instances where validators are inactive, votes may be too close, causing the network to bounce between two reserve levels and creating a bad user experience.

To make the process more stable and enable a predictable user experience, he suggested that the fee voting configuration have a default “off” setting so that voting by validators is more explicit.

The XRPL architect also proposed that the default setting should have no preference for lowering or increasing the reserve unless the validator explicitly makes the change.

Beyond offering improvements to the fee voting process, Schwartz shared his two cents on the recent reduction in the account reserve parameter. On December 2, the network adjusted the base reserve from 10 XRP to 1 XRP and the ownership reserve from 2 XRP to 0.2 XRP.

A Long Overdue Change?

Commenting on the account reserve reduction, Schwartz contended that the change was long overdue. Still, he maintained that the extent of the reduction may have been a bit more aggressive than he hoped.

The concern comes as some fear that the network could be exposed to denial-of-service attacks if the account reserve fee becomes too low.

Moreover, raising account reserves after the fact will likely be more tricky. This is because increasing the reserve would mean locking up XRP previously available to users, which could raise concerns of excessive influence over their holdings.

In light of these risks, Schwartz called for a thoughtful approach as the network continued to evolve.

Analyst Says Dogecoin Has Unfolded Perfectly, Targets 653% Surge to $3

Elendu Benedict
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Market analyst Javon Marks speculates that the Dogecoin bull cycle is off to a flying start, insisting that a surge to a new all-time high is imminent.

Despite several attempts, Dogecoin has failed to trade above the multi-year resistance at $0.42. The meme coin’s last effort earlier in the month sparked an over 16% correction to as low as $0.36537.

However, top analysts continue to bet on Dogecoin’s surge this cycle. Most recently, seasoned market speculator Cantonese Cat stated that the leading meme coin is ready for its next bullish outburst, targeting an ambitious surge to $24.

Higher Prices Imminent: Analyst

Meanwhile, market expert Javon Marks has insisted that Dogecoin is historically having one of its best bull cycles. In a Monday tweet, the analyst suggested that the asset’s price action has unfolded almost perfectly, indicating that DOGE will perform much better this bull season.

Furthermore, the analyst speculated an imminent bullish momentum that would catalyze the surge past the current resistance to make a new all-time high. His assertion hinged on Dogecoin’s historical price action in this stage of the bull cycle.

Dogecoin Historical Price Action

Interestingly, Marks noted that the imminent 86% uptick from the current market price to surpass its previous high does not end Dogecoin’s bull cycle. The seasoned commentator asserted a much higher target, insisting that a 653% push to $3 is conservative.

According to Marks, a super-bullish cycle for Dogecoin would see it hit ambitious prices like $7.20 and $15. Notably, this would entail a 1,709% and 3,669% price growth, respectively.

Analysts Share Aligning Dogecoin Price Calls

Meanwhile, Marks’ Dogecoin call aligns with other notable price speculations from notable analysts. For instance, Ali Martinez speculated in a recent commentary that the largest meme coin by market cap would surge to at least $3 and as high as $18 if things go wild.

Also, lead Dogecoin analyst Kevin suggested a slightly higher price action to $4. The Crypto Basic reported that the market speculator based his lofty price call on a macro golden pocket price pattern.

In the meantime, Dogecoin trades at $0.398, down 2.6% in the past seven days.

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