Home Blog Page 1097

XRP Market Cap Hits New All-Time High as XRP Flips Solana, USDT Amid Spike in On-chain Metrics

Elendu Benedict
-
0
XRP Market Cap Hits New All-Time High as XRP Flips Solana, USDT Amid Spike in On-chain Metrics

Bullish momentum around the XRP ecosystem has seen it record significant milestones in market cap, new users, trading volume, and open interest.

The XRPL native token has been one of the best-performing crypto assets in the past month. Macroeconomic boasts and imminent innovations in the XRP ecosystem have spurred an almost fourfold increment in the past 30 days.

On Monday, XRP returned to the top three cryptocurrency rankings by market cap, surpassing notable assets like Solana and Tether’s USDT. The rapidly growing asset surged to a six-year high today, hitting a market cap of $140 billion.

 

XRP Hits New ATH in Market Cap

Meanwhile, data from CoinMarketCap also shows that XRP’s over $140 billion market cap is its largest ever. The digital asset has surpassed its $128 billion market cap peak in 2018 to set a new record.

 

Notably, the milestone came following the recent massive market cap gain. Analyst Kyren pointed out that XRP gained a $50 billion market cap in the past three days, fueling the unprecedented valuation attainment.

However, the asset remains 58.6% away from a new price all-time high. XRP reached an ATH of $3.84 per coin in January 2018 and has failed to breach the price level since then.

XRP On-chain Activities Show Bullish Momentum

Meanwhile, XRP has sustained the ongoing bullish momentum. Its on-chain metrics suggest further uptrend amid growing traction among market participants.

Per CoinMarketCap, the XRPL native token has a 24-hour trading volume of $28 billion, the fourth largest in the crypto ecosystem and the third-largest excluding stablecoins. Meanwhile, XRP’s volume is less than $3 billion away from Ethereum’s and $14 billion away from Bitcoin’s, reestablishing its dominance in the crypto market.

Furthermore, data from XRPScan indicates that the number of wallet activations on the XRP Ledger has surged ten times over the last three months. This suggests that interest in the XRP ecosystem has surged significantly amidst growing bullish sentiments.

Notably, Vet, an XRPL dUNL validator, confirmed the Ledger is experiencing “unreal traffic.” He noted that nearly 1,000 new users register on the XRPL network every hour, with the trading platform First Ledger processing $40 million two days ago.

XRP’s Derivative Data Explodes

Notably, XRP’s multi-year price uptick and flourishing ecosystem have increased market participants’ appetite for leveraged trading. Data from Coinglass shows that 24-hour derivative trading volume has surged to $46.37 billion, up over 138% from the previous day.

Open interest—a metric that measures the value of active positions on an asset at a given time—has surged to unprecedented levels. The bullish derivative indicator stands at $4.26 billion, XRP’s lifetime peak.

 

XRP Derivative Data

XRP Derivative DataMeanwhile, market spectators remain keen on higher XRP prices. For instance, Edoardo Farina, the CEO of Alpha Lions Academy, argued that $10 per coin is just the beginning for XRP. He insisted that any holder selling at the psychological price mark would rue the move.

For the latest Ripple (XRP) news today, it’s worth noting that XRP is currently trading at $2.41, up 29% in the past 24 hours.

Raoul Pal Admits He Was Wrong About XRP, Applauds 400% Growth

Abdulkarim Abdulwahab
-
0
Raoul Pal Admits He Was Wrong About XRP, Applauds 400% Growth

Raoul Pal, CEO of Real Vision, has publicly acknowledged that he was wrong about XRP, a cryptocurrency he had previously criticized for underperforming.

This comes amid a surprising turn of events where XRP is now trading above $2, transforming from an underperforming asset to one of the best-performing cryptocurrencies in just under a month.

During this time, it has surpassed BNB and Solana in market rankings, including the largest stablecoin USDT, now standing just behind Ethereum.

“XRP Warriors, I was wrong,” Pal said in a post on X today.

For context, in August, Pal had advised investors to consider moving away from XRP, calling it “dead.” He warned that holding onto XRP could lead to missed opportunities in the ongoing bull market. At the time, XRP was trading around $0.50, showing minimal growth and ranking among the worst-performing crypto assets.

Pal even suggested that XRP holders were being misled by a “cult-like” mentality, as they remained steadfast in their optimism. Other industry commentators also sided with Pal’s criticism. They urged investors to stay away from XRP and invest in better-performing tokens.

However, fast forward to December, and XRP has surged to over $2.50, experiencing a remarkable 400% increase in value.

Pal Applauds XRP Army Resilience

In light of this unexpected rally, Pal took to X to offer a heartfelt apology to the XRP community, stating:

“Dear XRP Jedi Warriors… You were right; I was wrong. Well done.” 

Furthermore, Pal praised XRP holders for their unwavering belief in the asset. He clarified that his earlier criticism was not driven by malice but rather a desire to provide honest advice to investors.

He emphasized that he did not want them to miss out on potential opportunities by holding an asset that had been underperforming for years.

Moreover, he clarified that he still owns XRP tokens he bought in early 2021 during the massive delisting of XRP across centralized exchanges due to the SEC lawsuit.

“You guys/girls deserve everything,” he wrote, acknowledging the persistence of XRP proponents who endured long periods of underperformance.

XRP Army Reacts

Remarkably, members of the XRP community welcomed Pal’s message with open arms, acknowledging his courage to admit he was wrong.

XRP Army accepts
XRP Army accepts Raoul Pal message

Panos Mekras, co-founder of Anodos Finance, called on Pal to look deeper into the XRP Ledger. He described it as the “real OG DeFi chain” with the first decentralized exchange (DEX), stablecoins, and advanced payment features.

Mekras noted that with all the upcoming developments and features, XRP Ledger is one of the best places to build and use, and it’s far from a “dinosaur.”

Top Analyst Shares Strategic Approach to Investing in XRP

Mark Brennan
-
0
Top Analyst Shares Strategic Approach to Investing in XRP

Benjamin Cowen Highlights a Strategic and Calculated Approach to Investing in XRP.

In today’s XRP price news, Benjamin Cowen, who has a Ph.D. in Engineering with Computational Mathematics background, highlights XRP impressive rise from $0.67 to $2.17, discusses BTC dominance hitting 60% and shares key lessons on preserving portfolio value and timing altcoin investments effectively.

XRP Price performance
Image Source: @intocryptoverse, X (Twitter)

Identifying XRP’s Setup: On November 12th, when XRP was trading at $0.67 and 771 satoshis (its value relative to Bitcoin), he spotted a “double bottom” pattern in the XRP/BTC chart. This pattern often signals a potential price surge.

BTC Dominance Insight: He started paying attention because Bitcoin’s dominance had hit 60%—his target from 3.5 years ago. During this dominance uptrend, altcoins like XRP typically lose value against Bitcoin (“bleed”), making it wiser to hold Bitcoin.

XRP Performance Since: After his observation, XRP’s price in USD surged to $2.17, and its value against Bitcoin rose significantly to 2200 satoshis.

Key Lesson on Timing: While XRP holders who waited years saw gains in this recent spike, Cowen argues it would have been more profitable to hold Bitcoin during its dominance phase, then switch to altcoins like XRP when they showed strong setups against Bitcoin.

Cowen emphasizes that one Shouldn’t hold altcoins for years, waiting for occasional pumps. Instead, one should analyze their BTC pair charts to identify favorable entry points and maximize potential returns.

XRP Reclaims Third Position in Global Crypto Ranking as Ripple CTO Hits 12 Years at Ripple

Mark Brennan
-
0
XRP Reclaims Third Position in Global Crypto Ranking as Ripple CTO Hits 12 Years at Ripple

Ripple CTO David Schwartz celebrates his 12th anniversary at Ripple, highlighting how the remarkable event coincides with XRP reclaiming its position as the third-biggest cryptocurrency by market cap. 

Schwartz revealed the development yesterday, confirming that he has worked at Ripple for 12 years.

 

Schwartz 12th Anniversary at Ripple Coincides with XRP Milestone

Based on his commentary, Schwartz officially joined Ripple on December 1, 2012, with current Chairman Chris Larsen subsequently adding him to the company’s board. He was among the early developers at Ripple who helped shape the company’s technical vision. 

Ripple’s decentralized blockchain platform, XRP Ledger (XRPL), is one of Schwartz’s brainchild projects, which he developed alongside Arthur Britto and Jed McCaleb. Notably, Schwartz later became the Chief Technology Officer (CTO) at Ripple after McCaleb left the position. 

Since then, Schwartz has spearheaded Ripple’s technological vision, contribution to the development of several cross-border payment solutions like Ripple Payments (formerly ODL). 

While celebrating his 12th anniversary at Ripple, he indicated that the event coincides with XRP reclaiming its position as the third-largest cryptocurrency by market cap. 

XRP Reclaims Third Position in Global Crypto Ranking  

XRP’s spectacular performance after the U.S. election has turned heads within the crypto market. The XRPL native token, which hovered around $0.50 on U.S. election day, November 5, surged to $2.49 in the early hours of today, representing an increase of 398%. 

This remarkable rally saw XRP overtake Solana (SOL) and Tether (USDT) to become the third-biggest cryptocurrency by market cap. It bears mentioning this position was where XRP ranked before the U.S. SEC introduced its lawsuit against Ripple. 

Ethereum and XRP Contest 

Before the lawsuit, XRP was in a close contest with Ethereum (ETH) for second place. However, the infamous speech issued by former SEC official William Hinman in 2018 gave ETH.

Prior to the speech, XRP was the second-biggest cryptocurrency by market cap behind Bitcoin. Hinman’s controversial speech, suggesting that only Bitcoin and Ethereum are non-securities due to their sufficiently decentralized nature, contributed to ETH’s market cap overtaking XRP. 

Ethereum cemented its position as the second-biggest cryptocurrency in December 2020 when the SEC officially sued Ripple. 

At the time, XRP’s price plunged to $0.17 from $0.50, erasing $15 billion from its market cap, according to FOX Business journalist Eleanor Terrett. Consequently, XRP fell to the seventh position for several years. 

Amid speculations that the Ripple lawsuit might be resolved under the forthcoming Donald Trump administration, XRP embarked on a jaw-dropping rally, with its price surging by over 300% in one month. For context, Ethereum remains the second-biggest cryptocurrency, with a market cap of $442.58 billion.

In the meantime, XRP is trading at $2.46 per token, with its market cap at $140.45 billion. Currently, XRP is up 31.31% in the past 24 hours, 67.81% over the last week, and 379.24% in one month. 

5 Crypto Trading Strategies To Consider

Albert Brown
-
0
5 Crypto Trading Strategies To Consider

Retail trading without a plan and set strategy is little more than glorified gambling. While this has dominated the crypto space since the beginning, things are changings as big money investors continue to enter the space. Financial institutions are pouring into the crypto space, and we’re starting to see an evolution in crypto investing strategies backed by analysis, data and experience in other sectors.

Private investors can use that knowledge with their own portfolios and use the sharpest strategies in the world of finance to boost their profits on Binance and other crypto exchanges.

So, what are the best crypto trading strategies in 2024?

Dollar-Cost Averaging (DCA)

The Dollar-Cost Averaging (DCA) strategy is a safe strategy for long-term investors who want to avoid the market’s highs and lows and focus on solid returns.

Choose a fixed amount to invest in a set token at regular intervals over a set time. Depending on the coin’s and market’s volatility, that can be weeks, months or years.

For instance, in the early days of Dogecoin, social media posts and support from celebrities sent the price rocketing one week before the price fell dramatically. So, it showed significant volatility from week to week. Well established coins tend to be more stable, so a solid DCA investment strategy for those could involve investing the same amount on a set day each month.

Binance ran a Dollar-Cost Averaging experiment recently to show how effective this strategy can be. As a test, $100 monthly split was funded evenly between the coins listed on Binance’s CMC Cryptocurrency Top 10 Equal Weighted Index. The experiment lasted for 3 months and saw BTC and ETH returning 21.70% and -2.04% respectively while BNB outperforming the test at 56.23%.

Binance’s CMO, Rachel Conlan, highlighted the advantages of Dollar-Cost Averaging (DCA) for cryptocurrency investors, explaining, “DCA is all about using consistency to your advantage—it transforms market fluctuations into opportunities for steady growth.”

Binance Trading Pairs
Binance Trading Pairs

Following this simple strategy means you buy low and high without chasing the market and poorly timed lump sum investment at a potentially higher price. Essentially, an investor’s position costs averages out over time for more consistent profitability. The strategy protects buyers against emotional investing, FOMO buying and losses if the market suddenly turns for the worse after a lump sum investment. It does, however, intentionally sacrifice the big short-term wins.

Range Trading

This is a great strategy for novice or intermediate traders who want to access big profits but aren’t quite ready to risk it all with the more advanced methods. Essentially, range trading means buying a coin when it falls within a certain range and deciding well in advance when to sell.

The most effective technique is identifying a particular token’s current support and resistance points. Then buy low and sell high, but always within that range. Range trading is an effective short-term strategy that you can rinse and repeat until the coin breaks free of those invisible and yet critical support or resistance points.

You can think of support as the floor and resistance as the ceiling. Buy at support and sell at resistance. You execute the reverse strategy for shorting a coin. BNB offers a very good example of support and resistance that a range trader could take advantage of.

Binance Trading Support And Resistance
Binance Trading Support And Resistance

Arbitrage Trading

Token prices can vary by small and yet significant amounts between crypto exchanges. So, there is a niche of cryptocurrency trading that exists solely for buying coins on one platform and selling them at a higher price on another. It sounds like child’s play, but it isn’t always so simple.

Traders need to factor in fees and other costs, and the margins are often small. So, to make a significant profit takes a big initial investment, and the slightest problem along the way, such as price slippage or delays due to congestion on the blockchain, can result in calamitous losses.

Types of crypto arbitrage include the simplest, spatial arbitrage, where traders buy on one exchange and sell on another at a higher price. An example is Bitcoin selling for $50,000 on one platform and $50,050 on another. So, it’s a simple case of buying big on one while simultaneously selling on the other.

Another more complicated style is triangular arbitrage, in which traders look for misalignments in the exchange rates between several coins. The trader can profit from a series of transactions that are effectively cryptocurrency conversions.

Cross-border arbitrage involves exchanges in different countries and can take actual fiat currency conversions into account, as well as differences in regional demand and regulatory issues. This is advanced arbitrage, though, and is more suited to professional traders and institutions.

HODLing

This simple strategy involves buying a token with growth potential and just holding on for the long term. The name arose from a misspelling of ‘hold’ on a forum, but the term morphed into the acronym Hold On For Dear Life during the early days of manic Bitcoin volatility. Now, it is a meme, a slogan and a mantra all in one.

HODLing is an ideal long-term investment strategy that almost purposefully ignores short-term peaks and troughs in the market in favor of long-term growth. This is a strategy investors use for years at a time, and there are early Bitcoin investors who have held on to their investment for more than a decade at this point.

Day Trading

This is the polar opposite of HODLing and really isn’t for the faint of heart. Day trading looks for a profit in the small daily movements in coin prices. As the name suggests, traders buy and sell tokens on the same day, and can hold coins for just minutes at a time.

There are technical analysis tools that can help narrow down the right coins to buy and sell, and traders tend to focus on highly liquid coins like Bitcoin or Ethereum to ensure they can pick their entry and exit points without major slippage. Stop-losses and exposure limits also help contain the risk, but there is an inherent level of danger in day trading that means it isn’t for everyone. That’s especially true of traders who take huge positions with the help of leverage.

It’s better to start small and build up over time by reinvesting profits.

Newbies Guide To Getting Your First Crypto Card In 5 Simple Steps

Mark Brennan
-
0
Newbies Guide To Getting Your First Crypto Card In 5 Simple Steps

The evolution of payment technology has redefined how we use cryptocurrencies. Crypto cards are more than a convenience—they’re a bridge between digital assets and the traditional financial world. Picture grabbing your morning coffee with Bitcoin or buying something online with Ethereum, all through the familiarity of a crypto card.

Though crypto cards are gaining popularity, they’re still new to many. This comprehensive beginners guide to crypto cards teaches how to get your first crypto card and spend your coins without selling through an exchange.

What are Crypto Cards and How Do They Work?

Before picking up a crypto card, it’s essential to understand what it is and how it works. A crypto card functions like a regular debit or credit card but links directly to your crypto wallet or exchange. When you make a payment, your cryptocurrency is instantly converted to fiat. This means you can use your digital assets at any place that accepts card payments. Most crypto cards operate on Visa or Mastercard networks, which makes them widely accepted. For example, the UPay card is powered by Visa.

Key Features of Crypto Cards:

  • Fiat Conversion: Crypto cards automatically convert your chosen cryptocurrency to fiat currency at the point of sale, or loan you fiat to spend while keeping your coins as collateral.
  • Rewards and Cashback: Some cards offer rewards in the form of cashback or crypto incentives for each transaction.
  • Multi-Currency Support: Top crypto cards support a wide range of cryptocurrencies ranging from BTC, to ETH, Doge and even stable coins like USDT and USDC.
  • Crypto Loans: Digital coin cards like UPay offer crypto loans at low interest rates.
  • Budget Management: Advanced tracking features to help you monitor spending and budget better.

Types of Crypto Cards

You will mainly come across three main categories of crypto cards:

  • Debit Cards: Linked to your crypto wallet and used to spend crypto directly- payments are deducted from your crypto balance.
  • Prepaid Cards: Preloaded with a fixed amount of fiat currency, often with crypto-funded wallets.
  • Credit Cards: These are less common but operate similarly to traditional credit cards. They offer a line of credit with crypto rewards.

Step by Step Process for Getting your First Crypto Card

Now that you’re familiar with crypto cards and have been introduced to UPay credit cards, it’s time to get one for yourself. For the sake of explaining in practical steps, we’ll use UPay as the crypto card provider, let’s go.

Step 1: Sign Up and Verify Your Account

Once you’ve selected a provider, the next step is to create an account. This will involve:

  1. Start Signing Up: Go to your chosen provider’s website to sign up. With UPay, just click the green “Login/Register” button at the top right to start creating your account.
UPay Login Register
UPay Login Register

If you love working from your phone, UPay has you covered with an intuitive mobile with iOS and Android support. Simply scroll through the website towards the footer. Here you will find a download link for the app. Feel free to scan the QR code for a quicker download experience.

Download UPay App
Download UPay App

2. Fill Out the Registration Form: With UPay, you can sign up using either your email address or phone number. Whichever method you choose, you’ll need to verify your contact info, set a strong password, and confirm it. If you have an invitation code, be sure to enter it as well.

UPay Register
UPay Register

3. KYC Verification: UPay follows AML regulations, so you’ll need to complete the Know Your Customer (KYC) process. This typically means uploading a government-issued ID, a selfie, and sometimes proof of address. For ease, you can complete this through their mobile app. Just click on the profile picture icon at the top right of your dashboard, go to the “Authentication” page, and scan the QR code to continue.

UPay KYC
UPay KYC

4. Initial Deposit: After your account is verified, deposit a small amount of cryptocurrency. It’s best to fund your account with at least the minimum card activation amount. While not required at this stage, it will make the process smoother when your card is ready. To deposit into your UPay account, click the green “Assets” button at the top right of your dashboard, then go to the “Assets Overview” page.

UPay Wallet Address
UPay Wallet Address

Step 2: Apply for Your Crypto Card

Now that your account is set up, it’s time to apply for your card. Let’s get started.

  1. Navigate to the Card Section: Log in to your account, find the “Card” section, and select the option to apply for a crypto card.
Upay Navigate Card
Upay Navigate Card
  1. Select a Card Tier: Pick the right card for your needs from UPay’s four tiers: the UPay Platinum Card, UPay Precious Card, UPay Euro Card, and UPay Stellar Card. The Platinum and Stellar cards are virtual, while the Euro and Precious cards are physical. Be sure to review the key features, including fees and limits, before choosing.

Step 3: Activate Your Card

After your application is approved, you’ll get your card details. Physical cards will be mailed to your address, while virtual cards are ready to use instantly. Delivery for physical cards can take anywhere from a few days to a few weeks, depending on your location and the provider. Follow the instructions in the UPay app to activate your card.

Tips While Waiting for your Physical Card:

  • Check Status: Keep an eye on your email and the app for shipping updates and notifications.
  • Prepare Your Budget: Plan your budget and understand how much you’re willing to spend using your crypto card.

Step 4: Link Your Card

The UPay card supports linking with payment services like Google Pay, Apple Pay, and PayPal. Choose one that suits you best for a more convenient experience.

Step 5: Start Spending and Managing Your Crypto Card

Now that your card is activated, it’s time to use it for purchases and financial transactions:

  • Use It Like a Regular Debit Card: Shop online or in-store using your crypto card, and your funds will be converted to fiat at the point of sale.
  • Monitor Transactions: Keep track of your spending via the provider’s app, which will also show your crypto balance and transaction history.
  • Budgeting with Crypto cards: Use budgeting tools to track your crypto spending alongside traditional expenses.
  • How to Use Crypto Cards for International Travel: Learn about foreign exchange fees, benefits of using crypto cards abroad, and how to avoid high conversion costs.

Final Thoughts and Best Practices

Congrats on getting your first crypto card! You can use it as both a payment card and a wallet. For example, holding Bitcoin in your UPay card can let you ride the bull market while having the freedom to spend it anytime, anywhere. However, remember that cryptocurrencies are volatile. This means you could make significant gains if the market goes your way, but losses could be steep if prices drop suddenly. Choose a card that fits your needs, stay aware of fees and security features, and enjoy the seamless mix of crypto and traditional finance. Also, make sure to consider card limits based on your budget and spending plans.

FAQs

What are crypto cards?

A crypto card is a payment card that links directly to your cryptocurrency wallet. It makes it easy to spend your digital assets for online and in-store purchases without the hassle of converting them to fiat through an exchange like Binance or Coinbase.

How do crypto cards work?

Crypto cards function like traditional debit or credit cards. They convert your crypto into fiat at the point of sale for seamless transactions wherever card payments are accepted.

Which is the best crypto card?

There are many crypto cards available, and the best one depends on individual preferences and needs. UPay is highly recommended for its low fees, comprehensive limits, and strong security features.

Can you use crypto cards worldwide?

Usage varies by card, with some limited to certain regions, but UPay crypto cards can be used globally in over 168 countries.

Expert Says XRP Holders Likely to Sell at $10 Will Regret It

Abdulkarim Abdulwahab
-
0
Expert Says XRP Holders Likely to Sell at $10 Will Regret It

Edo Farina, the CEO of Alpha Lions Academy, recently took to X to caution XRP holders against short-term thinking that could lead to missed gains.

In his tweet, Farina expressed his belief that 95% of XRP holders will likely sell their holdings at the $10 psychological price level. In his view, this action could result in such investors missing out on the long-term value and growth that XRP may offer.

Backing his view, he cited the case of many investors who had already liquidated their XRP holdings when the asset first pumped to $0.80 earlier this month. These were retail investors who believed the XRP uptrend would not last, as seen in several instances over the past 12 months.

However, to many’s surprise, XRP’s bull run endured, and the asset climbed to $1. Now, XRP is confidently approaching the $2 mark.

Essentially, those who had parted ways with the XRP market earlier have settled for far fewer gains than those who held on, as the asset is currently trading at $1.89.

Remain Patient and Stay Locked in for the Long Haul

As a result, Farina urged crypto enthusiasts not to rush to take profits from XRP. He encouraged them to remain patient and lock into their investments for the “perpetual run.”

His tweet reminds XRP investors to take a more strategic approach and avoid the temptation of quick profits that can ultimately limit long-term gains. While XRP is worth around $1.89, market commentators like Farina have argued for a hypothetical future where the asset could be worth $10,000.

He firmly believes that this dream will ultimately come true far in the future. His bold forecast suggests that selling XRP at $10 would miss the opportunity to sell at $10,000 or higher.

Community Members Disagree

However, in the comments section of his post, some community members expressed disagreement with Farina’s view. They argued that strategically taking profits from one’s portfolio is a more prudent approach to achieving financial success.

Community member Dexter Douglas remarked that everyone has their own version of life-changing wealth. He pointed out that if an individual considers $5 to be a life-changing gain, they should sell and hold a “moon bag” (a portion of the asset for potential future growth).

Douglas emphasized that selling at the time that best suits one’s personal financial goals, family, and future is key. Moreover, he added that money left unrealized is not a loss.

Similarly, Nunoarmada reminded market participants that not all crypto assets will continue to rise by the end of a cycle. “Sell at the top and rebuy at lower prices,” he recommended.

Here is How High Dogecoin Can Rise After ETF Approval if DOGE Gets 30% of BTC ETF Inflows

Sam Wisdom Raphael
-
0

The Dogecoin price could soar to new highs if a Dogecoin ETF market secures approval and attracts just 30% of the inflows from Bitcoin ETF products.

Dogecoin (DOGE) is one of the best performers of the ongoing bull market, currently trading at a high last seen in June 2021. Despite the market-wide correction, which triggered a 2.8% drop in the Dogecoin price in 24 hours, the meme coin boasts a 159% increase in November.

DOGE has achieved this immense growth rate on the back of mere market speculation and discussions around the Department of Government Efficiency (DOGE) spearheaded by Tesla CEO Elon Musk in the incoming Donald Trump administration.

DOGE Rallies on Market Speculation

Interestingly, the impact from external fundamental market catalysts such as ETFs has not materialized yet, with these factors capable of triggering a more substantial price gain. Notably, Bitcoin’s Q1 price upsurge was partly fueled by inflows into Bitcoin ETFs, which launched in January.

In addition, the ongoing uptrend, which saw BTC cross $99,000, has also come on the back of capital flows into the ETF products. With Bitcoin ETFs currently boasting inflows worth $30.8 billion since January, discussions around ETFs for other crypto assets have emerged.

Ethereum (ETH) was the next to attract ETF products, which launched in July. Moreover, some asset managers have filed for XRP ETFs and Solana ETFs. However, the SEC has not yet approved these filings.

Dogecoin has been in the background, but the possibility of an ETF for the meme coin is not out of the question. Notably, Nate Geraci, CEO of the ETF Store, recently argued that some asset managers could file Dogecoin ETFs as a marketing strategy. 

Dogecoin Price if Its ETFs Capture 30% of Bitcoin ETF Inflows

Meanwhile, Bloomberg’s ETF expert Eric Balchunas, noted that Dec. 31 could be the perfect time to file for a Dogecoin ETF. Should asset managers show interest in Dogecoin for an ETF product, the market could witness an influx of capital.

Such an influx is capable of triggering an impressive increase in the Dogecoin price. Notably, with Bitcoin ETF products currently witnessing $30.8 billion in cumulative net inflows, if a Dogecoin ETF market captures only 30% of this figure, DOGE’s market value could skyrocket.

For context, 30% of the Bitcoin ETF inflows amount to $9.24 billion in capital injection. If one leveraged a quarter of the Bank of America (BoA) multiplier of 118x, this would lead to a market cap multiplier of 29.5x for every dollar that flows into the Dogecoin ETF.

At this 29.5x rate, the $9.24 billion would translate to $272.58 billion in additional market cap for Dogecoin. This would bring DOGE’s market valuation to $334.68 billion, slightly lower than Ethereum’s current market cap of $406.58 billion.

With the $334.68 billion market cap, the Dogecoin price could breach the $1 mark, essentially skyrocketing to $2.2 per token. Analysts such as Ali Martinez believe this target is feasible for Dogecoin price, with Martinez recently predicting a possible rally to $2.4.

XRP Set for $5.3 as Analyst Says Even a 63% Drop Would Keep Price Above $1.96

Sam Wisdom Raphael
-
0
XRP Set for $5.3 as Analyst Says Even a 63% Drop Would Keep Price Above $1.96

A market commentator expects XRP to soar to a new all-time high amid the ongoing rally, which resembles a repetition of the 2017 upsurge.

XRP is one of the biggest beneficiaries of the latest market rebound. In the past 24 hours, it has climbed over 24%, reaching $1.93. As a result, market watchers are optimistic about XRP’s potential for further gains, with some predicting a rally similar to the 2017 surge.

One such analyst is EGRAG, who recently suggested the possibility of XRP reaching $5.3 in the near term. The prediction stems from an analysis of XRP’s price movements since 2013, focusing on the symmetrical triangle pattern that has defined its long-term chart.

XRP’s Historical Symmetrical Triangles 

The chart from EGRAG points out two symmetrical triangle formations in XRP’s history. The first triangle spanned from December 2013 to March 2017. 

During this period, XRP experienced a breakout that led to a staggering 287% increase in just one month. This breakout was a precursor to XRP’s meteoric rise, which culminated in a peak of $3.31 in January 2018.

XRP 1W Chart EGRAG Crypto
XRP 1W Chart | EGRAG Crypto

The second triangle emerged after XRP’s decline from the $3.31 peak. This pattern has persisted for seven years. However, November 2024 has brought renewed optimism, as XRP has recorded a remarkable 270% gain this month. Analysts believe this surge could mark the beginning of a breakout similar to the one from 2017.

XRP Targets $5.3

EGRAG’s analysis suggested that if the current rally mirrors the 2017 breakout, XRP could see an astonishing 1,273% surge. The market analyst confirmed that this rally would push XRP’s price to approximately $5.3. 

However, the projection comes with a caution. Just as the 2017 rally was followed by major corrections, a similar pattern could play out this time. EGRAG expects a potential 63% retracement after XRP reaches its peak. This would bring the price back to the $1.94–$1.96 range, aligning with XRP’s previous all-time high in 2021.

The analyst further stressed that while the price action closely resembles the 2017–2018 cycle, the timeline may differ. Notably, external factors, including market sentiment and regulatory developments, could influence the speed and trajectory of the rally.

Currently, XRP trades for $1.90, up 5% today. Its latest surge has seen it breach major resistance levels. For the latest insights, check out the XRP news update. The asset surpassed $1.63 and is now approaching its 2021 peak of $1.96. Market watchers expect XRP to easily claim the $2 price level once it clears the $1.96 resistance.

How Much You Need to Make $10K, $30K, and $50K If Shiba Inu Hits $0.0005 and $0.005

Abdulkarim Abdulwahab
-
0
How Much You Need to Make $10K, $30K, and $50K If Shiba Inu Hits $0.0005 and $0.005

This analysis examines how much one needs to invest in Shiba Inu to make $10K, $30K, or $50K if its price reaches $0.0005 or $0.005.

Shiba Inu stands among the assets that have delivered life-changing returns for investors, particularly those who have remained steadfast. Currently, Shiba Inu trades at $0.000027, reflecting a year-to-date growth of 161%.

Although it still trades with four leading zeros, market analysts have highlighted the possibility of SHIB eliminating another zero in the near future. This article explores how investors could leverage Shiba Inu to amass lump sums of $10K, $30K, and $50K should the price reach higher levels, such as $0.0005 or $0.005.

How Much You Need to Make $10K, $30K, and $50K If Shiba Inu Hits $0.0005

With Shiba Inu trading at $0.000027, attaining the $0.0005 price point would require a growth of 1,751%. To benefit from this 18-fold price expansion, an investor would need to hold 20 million units of SHIB tokens. At Shiba Inu’s current market value, 20 million tokens cost $540.

Essentially, an investor must commit $540 to acquire 20 million SHIB tokens to earn $10,000 in the future, should the price appreciate to $0.0005 per token.

Meanwhile, to see a $30,000 return from Shiba Inu at the $0.0005 price, one must hold three times as many SHIB tokens. Acquiring 60 million SHIB tokens today costs $1,620.

Similarly, the $50,000 target requires five times more capital, at $2,700, as an investor must hold 100 million Shiba Inu tokens today to position for the $50K goal.

Making $10K, $30K, and $50K If Shiba Inu Hits $0.005

Meanwhile, optimism for Shiba Inu to cancel even more zeros and trade as high as $0.005 is prevalent in the crypto community. For context, reaching $0.005 from Shiba Inu’s current market value would demand an astronomical price surge of 18,418%. This essentially implies a massive 184-fold return on the initial investment.

In this case, making $10,000 from Shiba Inu would require holding 2 million SHIB tokens, which costs just $54 today. Likewise, making $30,000 requires an investment of $162 or holding 6 million SHIB tokens. To realize $50,000 from Shiba Inu at a price of $0.005, an investor must be holding 10 million tokens, which costs $270 today.

When Can Shiba Inu Reach $0.0005 and $0.005?

In May, an analyst using the Elliott Wave Theory suggested that Shiba Inu could reach $0.0005, citing the completion of a fifth wave on the weekly chart. The analyst predicted that SHIB will recover from past losses and potentially rally to $0.0005059. This projection suggests that this price level is attainable the season by 2025.

However, analysts at Telegaon projected a six-year timeline for Shiba Inu to reach $0.0005. Analysts at Changelly also agree with this timeline, but they suggested a seven-year window.

As for the more ambitious $0.005 level, Telegaon suggested a 2024 timeline, while Changelly analysts do not see the projection materializing in any foreseeable future.

1...1,0961,0971,098...2,662Page 1,097 of 2,662