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Top Analyst Predicts Explosive Charge to Propel XRP to $33

Abdulkarim Abdulwahab
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Top Analyst Predicts Explosive Charge to Propel XRP to $33

A top analyst predicts a significant breakout for XRP, projecting potential price targets up to $33 amid bullish technical signals and market momentum.

XRP was among the notable performers of the weekend crypto market rally, which was led by Bitcoin’s attempt at the $65K price point. XRP advanced by over 7%, hitting a daily high of $0.6304, but closed the day slightly lower at $0.6131.

This commendable performance has caught the attention of proponents like analyst Bobby A. In a post on X, the analyst highlighted his optimism about XRP, asserting that XRP is amid an “explosive charge” ready to send its price higher. 

XRP Paths to Higher Targets

Bobby A presented a technical analysis chart highlighting his XRP expectations, including potential profit-taking targets. Notably, the chart suggested that XRP is forming a breakout pattern on the monthly timeframe, indicating that XRP may be ready to surge significantly if it breaks above its current resistance levels.

Numerous market observers have repeatedly called attention to this potential XRP breakout on the monthly timeframe. Some have even predicted that the asset could embark on its biggest rally ever as a result.

Bobby A’s first target for XRP is a rally up to $0.8722, which would require a growth of 45% from XRP’s current price of $0.6014.

Moreover, the chart shows that at the $0.8722 price point, XRP would break above a long-term descending trendline, potentially flipping its trend from bearish to bullish.

Once this milestone is achieved, Bobby A expects XRP to aim for the $1 threshold, with specific targets at $1.34 and $1.72.

However, the analysis projects that XRP could face challenges scaling from $1.72 to its previous all-time high of above $3. It identified several resistance levels that XRP must overcome before surpassing the ATH threshold and entering a new phase of price discovery.

XRP chart analysis by Bobby A
XRP chart analysis by Bobby A

Profit-Taking Targets for XRP Traders

Interestingly, the analysis suggests that once the significant resistance at around $3 is broken, XRP could experience a smoother ascent beyond this point.

Specifically, it anticipates XRP quickly advancing to $5.31, outlining price points from this level upwards as potential profit-taking zones for investors looking to realize short-term gains. The profit-taking points range from $5.31 to as high as $13.

For crypto market participants buying XRP today, taking profits at $13 would result in a return on investment of over 20 times the initial investment.

Notably, $13 is not Bobby A’s most ambitious price target for XRP. The chart also highlighted a potential price target of up to $33, which represents a massive 5,387% growth from its current price.

Grayscale Mentions XRP Amongst Weekly Best Performing Assets

Mark Brennan
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Grayscale Mentions XRP Amongst Weekly Best Performing Assets

XRP ranked as the fifth-best-performing asset after reportedly having 6.71% weekly returns amidst a broader market recovery.

XRP has made the headlines again after featuring in a mention by US-based asset manager Grayscale. The Bitcoin and Ethereum spot exchange-traded fund (ETF) issuer listed the XRPL native token among the weekly top ten best-performing assets among the biggest cryptocurrencies by market cap.

In the snapshot tweeted on Friday, Grayscale listed XRP as the fifth-best performer, with a 1-week gain of 6.71%. This showed XRP’s bullish outturn amidst a wider market recovery. The data further uncovered that XRP’s gains meant it had a year-to-date return of -2.41% and a market cap of $33.63 billion.

 

XRP Post Gains Amidst Market Recovery

The week in review saw a wider market recovery, with Bitcoin recovering to a weekly low of $56,386 on August 15 to close above $60,000 on August 22. XRP started the week by consolidating from a price uptick after the famous victory against the US Securities and Exchange Commission (SEC) on August 7.

XRP surged 6.7% from the $0.555 opening price on August 15 and closed at $0.5967 on Thursday. XRP’s impressive price performance saw it outperform seven of the ten coins that made the top asset list.

At press time, XRP was up 2.6% in the past 24 hours and 2.7% from when the Grayscale report was captured. The asset exchanged hands for $0.6134 with a market cap of $34.46 billion.

Notably, XRP also made the list the last time Grasyscale published the weekly asset performance snapshot on X. The XRPL native token ranked eighth with a -9.6% weekly loss.

Avalanche, TRON Lead Weekly Gain

After seeing substantial gains during the week, Avalanche and the Tron Network’s TRON occupied the first and second slots. AVAX had a weekly return of 26.12%, while TRON grew by 19.94%.

TRON’s positive outing was likely influenced by positive sentiments around the SunPump memecoin frenzy and the network’s impressive transaction settlement acumen. Since the SunPump launch, over 7,000 memecoins have been created on the Tron network, increasing liquidity and extensively impacting TRX’s price.

Cardano’s ADA surged 16% on positive sentiments following its expected Chang upgrade. Binance Coin (BNB) saw a 12.17% weekly return, while Grayscale reported 5.31%, 5.03%, and 2.22% asset performance for Dogecoin (DOGE), Bitcoin (BTC), and Ethereum (ETH).

Cardano Founder Teases ‘Partner Chain’ With Algorand

Mark Brennan
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Cardano Founder Teases ‘Partner Chain’ With Algorand

Charles Hoskinson stated that the partnership with Algorand and Cardano’s Minotaur would create the greatest decentralized AI powerhouse the crypto sector has ever seen.

The Cardano-Algorand chain bromance seems to be gaining momentum after IOHK founder Charles Hoskinson teased a possible partnership with the Layer 1 network. In a tweet late Friday, Hoskinson spoke about a collaboration between Algorand and Cardano’s AI-biased chain, Minotaur.

According to the Cardano founder, a partner with Algorand could produce “the greatest decentralized AI powerhouse” the crypto industry has ever seen. It would also bring out the best of Minotaur, a multi-resource blockchain consensus. He further said, ” It would be cool to see it become a partnerchain and push Minotaur to its limits.”

Forging a Partnership?

Hoskinson’s tweet came after the Algorand Foundation’s Chief Technology Officer (CTO), John Woods, showed interest in a possible partnership with Cardano. 

It all started with a tweet from Dave, a Cardano enthusiast, who said he would love a partnership between Cardano and Algorand. In the post, Dave said the community and leadership of the two networks were impressive, and he was looking forward to seeing Algorand become Cardano’s first official partner.

The tweet drew the attention of Woods, who stated he was open to the idea and wouldn’t mind a discussion in that regard. Hoskinson didn’t reply to the tweet despite being tagged but made a separate tweet showing the two networks might be forging a partnership.

Long Admirers

Hoskinson and Woods have cross-commended the exploits of their networks a couple of times. Earlier this week, Woods called the integration of Doom on Hydra one of the coolest things he has ever seen. The Crypto Basic reported an event in 2022 where Hoskinson called Algorand an excellent project with a lot of exceptional people.

Hoskinson once got under the sword from the Algorand community after a comment last year. The IOHK founder suggested that Algorand consider becoming a Cardano sidechain, bringing him to a loggerhead with the ALGO enthusiasts.

It is unclear at this stage what the two blockchain giants will roll out, but the discussions are already underway. Algorand Technologies’ CTO, Gary Malouf, has also shown interest in Hoskinson’s AI ideas.

Expert Predicts XRP Could Go Crazy if This Happens 

Lele Jima
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Expert Predicts XRP Could Go Crazy if This Happens 

Famous crypto expert DustyBC highlights a major factor that could make XRP go crazy and stage a significant rally toward higher levels. 

In a recent tweet, the analyst shared an XRP chart confirming that the asset has consolidated around the $0.60 price territory. 

This led to the formation of a symmetrical triangle on the chart, with the upper trendline sloped downward while the lower trendline was in an ascending position, signaling a consolidation phase. 

Notably, XRP bulls aim to break out of the upper trendline, which currently stands as a resistance level for the asset. DustyBC suggested that XRP’s price will skyrocket massively if it breaks out of the triangle to the upside. 

According to DustyBC, XRP could potentially surge to $2.3 or higher if it successfully breaks out of the symmetrical triangle, especially above the upper trendline. 

Other Analysts Share Similar Sentiment 

Meanwhile, DustyBC’s analysis aligns with a similar view recently shared by popular market watcher Captain Faibik. 

As reported earlier, Faibik noted that even though XRP is in a consolidation phase, the seventh-biggest cryptocurrency by market cap could stage a rally to $2.5 if it breaks out of the symmetrical triangle to the upside. 

Last month, popular analyst JackTheRippler suggested that XRP’s current symmetrical triangle is similar to the one observed in 2017. The analyst claimed that XRP staged a 60,000% rally after it broke out from the symmetrical triangle in 2017. Therefore, he projected that XRP could replicate a similar performance if it breaks out from the current symmetrical triangle.  

At press time, XRP is currently changing hands at $0.6088, marking an increase of 1.56% over the past day. Similarly, XRP is also up 8.01% in the weekly charts and 0.21% in the past 30 days. 

Although XRP’s recent gains have been minimal, community members have remained optimistic about the asset’s potential for significant rallies. This confidence soared after U.S. District Judge Analisa Torres issued the highly anticipated final judgment in the SEC v. Ripple lawsuit. 

Cardano Founder Says Chang Hard Fork Delayed, Here’s Why

Mark Brennan
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Cardano Founder Says Chang Hard Fork Delayed, Here’s Why

Cardano founder Charles Hoskinson announced that the new date for the upgrade is September 1 and highlighted the reasons for the delay.

The Cardano Network and crypto communities will have to wait a little longer for the Chang Hard Fork, as founder Charles Hoskinson has announced a delay in the upgrade.

 

In a tweet on Friday, Hoskinson stated that the major upgrade, slated for August 27, will have to wait until September 1. He noted that a few exchanges, like Binance, were not ready for the upgrade yet, hence the delay.

Although the Chang hard fork team reported improved preparedness among decentralized applications and exchanges earlier in the week, there were still some key players left to put their houses in order for the upgrade.

Retrospectively, the hard fork team announced Friday, August 23, as the deadline for the final decision on a possible August 27 Chang upgrade. Hoskinson stated that the deadline awakened stakeholders who would be involved in the hard fork and got them working towards the project.

A Little Longer

Hoskinson noted that the delay meant the rocket would wait on the pad for better weather. The new September 1 date was just five days after the planned date, signaling that the reasons for the delay were issues that wouldn’t need much time to resolve.

The Chang upgrade preparedness data from Intersect showed improved readiness from Cardano’s stake pool operators (SPOs). About 83% of SPOs have upgraded their nodes to version 9.1.0.

As Hoskinson pointed out, exchanges were the primary source of the delay. Out of the 58 exchanges that will be involved in the upgrade, 31 were fully prepared. Sixteen, including Binance and Bybit, were in progress, while 11 had not even started. Notably, Bitfinex was the first exchange to announce 100% preparedness for the Chang hard fork.

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The data also highlighted promising progress among light wallets, hardware wallets, and DeFi projects connected to the Cardano network. The hardware wallet Ledger (Nano S) will unlikely be ready for the Change upgrade.

The Chang hard fork will introduce the Voltaire era, where Cardano’s governance system will move from IOG to the Cardano community.

Ripple ODL to Increase XRP Price: Wealth Advisor

Sam Wisdom Raphael
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Ripple ODL to Increase XRP Price: Wealth Advisor

The debate over the impact of the Ripple On-Demand Liquidity (ODL) product on the price of XRP has been a contentious topic. 

Mickle, a notable wealth advisor and market commentator, recently took to social media to dispel what he considers to be “persistent misinformation.”

According to Mickle, the notion that Ripple’s ODL product does not affect XRP’s price has flaws. His argument suggests that ODL plays a significant role in driving up the value of XRP, contrary to claims that the buy and sell dynamics involved in ODL transactions cancel each other out.

The Role of ODL in XRP Price

Mickle emphasized that while some critics argue that the buy and sell transactions in ODL are neutral to XRP’s price, they overlook a crucial aspect. According to him, this is the necessity for market makers to hold reserves of XRP. 

Market makers, who facilitate these transactions, must stockpile XRP to ensure they can meet demand. As ODL transactions increase globally, the demand for XRP among market makers also rises, leading to higher accumulation of the token. Mickle argues that this creates a supply constraint, which naturally drives up the price of XRP.

He further contends that the expansion of ODL globally will necessitate even more market makers to hold XRP in their reserves. This increased demand, combined with the finite supply of XRP, should logically result in an upward pressure on its price. 

Mickle’s view challenges the existing belief that ODL’s operational structure is inherently price-neutral. However, Ripple and some of its executives have confirmed that ODL transactions are indeed demand neutral. 

A Common Rebuttal

While Mickle is optimistic about the impact of ODL on XRP’s price, not everyone in the XRP community agrees. Eri, a well-known figure in the XRP community, pointed out in a reply that Ripple itself has indicated in court documents that ODL transactions are largely demand-neutral. 

Ripple’s disclosure, as cited by Eri, suggests that ODL transactions, which involve the simultaneous purchase and sale of XRP, do not significantly affect its price. 

According to the court documents, this is because each ODL transaction involves the purchase and sale of the same amount of XRP within a short timeframe, effectively neutralizing any impact on the token’s market value.

Eri further highlighted that Bob Way, a former Ripple Product Manager, who Mickle referenced in his argument, left Ripple before significant changes were made to ODL’s operational flow. According to Eri, Ripple’s current system for managing ODL transactions differs from the setup during Bob Way’s tenure.

Regulatory Environment 

Meanwhile, Mickle also spotlighted how regulatory developments could impact XRP. He noted that recent changes in global liquidity trends, spurred by potential interest rate cuts from the Federal Reserve, could lead to a more bullish environment for cryptocurrencies. 

This anticipated influx of liquidity, combined with favorable regulatory developments, could set the stage for a significant bull run in the cryptocurrency market, with XRP positioned to benefit.

Mickle also discussed the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC). He highlighted recent developments, including a court ruling in the Kraken lawsuit, which could impact the SEC’s strategy moving forward. 

According to Mickle, the SEC might be more cautious about appealing the Ripple case to avoid setting a precedent that could weaken its position in other ongoing cases.

Here’s One Way Shiba Inu Could Spike to $1.2 

Lele Jima
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Here’s One Way Shiba Inu Could Spike to $1.2 

This article highlights how Shiba Inu could record a jaw-dropping rally to $1.2. 

The ongoing mild recovery across the broader market is reflected in Shiba Inu’s price, which has surged 6.56% in the daily chart. Amid the mild recovery, Shiba Inu surged above the $0.000015 territory in the late hours of yesterday. 

Following its remarkable performance, several market watchers and analysts have issued favorable projections for the dog-themed token. 

CoinW Predicts SHIB Could Hit $1 

As reported this week, leading crypto exchange CoinW hinted that SHIB’s price could soar by a whopping 7,627,665% to $1. CoinW made this forecast alongside a series of other bold predictions, such as Bitcoin hitting $100,000 and Cardano (ADA) surging to $5. 

As expected, CoinW’s prediction of Shiba Inu hitting $1 sent shockwaves into the crypto community due to the asset’s hefty circulating supply of 589.27 trillion tokens. Moreover, surging to $1 requires SHIB to eliminate the four zeros after its decimal. 

SHIB Could Hit $1.2 If It Repeats Its 2020/2021 Success Story 

Nonetheless, if the asset replicates its 2020/2021 success, Shiba Inu’s price could potentially increase beyond CoinW’s $1 projection to $1.2. It bears mentioning that Shiba Inu recorded an impressive growth of 76,000,000% between 2020 and 2021. 

Shiba Inu, which launched in August 2020 as just another memecoin in the market, gained immense popularity a few months later. Its popularity surged tremendously after Ethereum founder Vitalik Buterin, who received 50% of SHIB’s total supply from Shiba Inu founder Ryoshi, burned 410 trillion of these tokens and donated the remaining to charities. Also, several crypto exchanges, including Binance and Coinbase, listed SHIB for trading. 

These positive developments led to a massive rally for SHIB, with the asset surging to an all-time high (ATH) of $0.00008845 in 2021. Popular blockchain analytics platform CoinGecko published a report in May 2024 highlighting how Shiba Inu turned a meager investment of $12 to $1 million between 2020 and 2021. This represents an ROI of 7,692,207%. 

With SHIB currently trading at $0.00001547, a hypothetical repetition of this 7,692,207 surge could take the asset’s price to $1.2. In this hypothetical scenario, investors holding 10 million SHIB worth $154.7 today would see their investment rise to $12 million. 

It is worth noting that this article is for informational purposes; hence, its content should not be taken as financial advice.

Shiba Inu All the Way to $0.000081 as it Finally Breaches Crucial Region

Sam Wisdom Raphael
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Shiba Inu All the Way to $0.000081 as it Finally Breaches Crucial Region

Shiba Inu (SHIB) currently trades at a critical juncture after recently breaching the resisting trendline posing a roadblock to a substantial surge.

This is according to an update from market analyst Javon Marks, who recently analyzed SHIB’s current price momentum. Notably, the update comes up amid an observable rebound within the broader crypto market, as Shiba Inu rides on the recovery to stage its own campaign.

Earlier Shiba Inu Analysis 

As reported by The Crypto Basic, in an earlier analysis nearly a week ago, Marks identified a massive falling wedge pattern forming on the daily chart. He highlighted that SHIB was approaching the convergence point of this pattern. For context, this region often leads to potential breakouts.

He also pointed out the confirmation of a bullish divergence. According to Marks, these indicators suggested that SHIB could be on the brink of a bullish breakout, potentially sparking a rally with a target of $0.000081. 

The pattern formed following Shiba Inu’s drop from the $0.000045 yearly peak in early March, with the price action becoming increasingly compressed as it approached the apex. This compression often indicates that the sellers are losing momentum, setting the stage for a reversal. 

SHIB Finally Stages a Breakout

Fast forward to his recent update, Marks confirmed that SHIB had indeed broken out of the falling wedge pattern. Shiba Inu staged a breakout amid an impressive run that began on Monday, Aug. 19. Interestingly, SHIB recorded three consecutive intraday gains from Aug. 19 to 21, spiking 6.52% within this period.

Shiba Inu Falling Wedge Javon Marks
Shiba Inu Falling Wedge | Javon Marks

Meanwhile, a massive 8.82% intraday surge on Aug. 23 confirmed the breach above the falling wedge. This breakout is especially significant, as falling wedges typically signals bullish reversal patterns, especially when they occur after a prolonged downtrend. 

Notably, the breakout has prompted Marks to reiterate his bullish outlook on SHIB, maintaining that the target of $0.000081 remains in play. He now sees a potential upside of over 432%, indicating that the journey towards this target may have already begun.

In addition to the wedge pattern, the chart shows an increase in volume during the breakout, which further confirms the strength of the move. Volume is a critical factor in validating breakouts, as it indicates that there is genuine buying interest behind the price movement. The analyst also identified a bullish divergence involving the RSI.

Meanwhile, Marks’ chart outlines potential price action following the breakout. In the near term, the next significant resistance level appears to be around $0.000032, which could serve as an interim target. Beyond this, if the bullish momentum continues, SHIB could potentially rally towards $0.000081.

Expert Explains How Holding 20,000 XRP Could Be Life-Changing if XRP Reaches a New All-Time High

Abdulkarim Abdulwahab
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Expert Explains How Holding 20,000 XRP Could Be Life-Changing if XRP Reaches a New All-Time High

Edo Farina, CEO of Alpha Lions Academy, recently discussed how holding 20,000 XRP could be a life-changing decision for investors when the asset reaches a new all-time high.

Farina shared this insight in a video posted on X on Friday. He first addressed the ongoing speculation around XRP’s price potential. He dismissed XRP price predictions based on technical analysis (TA), arguing such analyses are baseless.

Farina emphasized that XRP’s price movements would be more influenced by its utility and adoption than arbitrary lines on a chart. According to him, XRP reaching a new all-time high, potentially surpassing its previous peak of $3.84, is not out of reach if utility and institutional adoption increase.

Why 20,000 XRP Matters

Farina provided a detailed analysis of what holding 20,000 XRP could mean for investors. Using a conservative estimate of $5 per XRP, he explained that this would equate to a total investment of $100,000. 

Farina highlighted that even this modest price target would put investors in the top tier of wealth, outperforming most of the global population, particularly given the current economic climate where many people do not have significant savings or investments.

Notably, with XRP trading at $0.599 today, it costs approximately $11,980 to acquire a portfolio of 20K XRP.

The Game Changer for XRP

Also, Farina noted that XRP’s potential to make a new all-time high relies heavily on its use case as a bridge currency for cross-border payments. 

He explained that the real value of XRP lies in its ability to settle transactions quickly—within three seconds. This makes it highly attractive for financial institutions looking to streamline operations and reduce reliance on nostro and vostro accounts.

However, Farina also pointed out a potential drawback: because transactions are settled so quickly, institutions may not need to hold large amounts of XRP for extended periods, which could limit long-term price appreciation.

“But there’s less XRP circulating, which could push prices higher if demand increases,” he explained.

Overall, Farina expressed that for XRP to reach a new all-time high, several factors must align. They include broader adoption by financial institutions and central banks. Also, Ripple’s strategy to position XRP as a replacement for traditional nostro and vostro accounts could drive substantial demand.

Farina suggested that even capturing a small percentage of SWIFT transactions could propel XRP’s price significantly higher, potentially beyond $100.

While Edo Farina acknowledges that predicting exact price movements is challenging, he remains confident in XRP’s potential. He advised investors to focus on XRP’s fundamentals and use case rather than speculative TA, which Farina describes as largely “clickbait.”

Seasoned Expert Predicts Cardano to Surge 10x to $4.29

Lele Jima
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0
Seasoned Expert Predicts Cardano to Surge 10x to $4.29

Prominent crypto influencer and YouTuber Max Maher speculates that Cardano (ADA) is on the brink of staging its biggest pump ever that could see its price surge up to 10x. 

In a recent YouTube video, Maher acknowledged that Cardano has been underperforming since 2022, immediately after the last bull run. Despite Cardano’s promising features and popularity, many has written it off due to its massive slump since 2022.  

Unlike its main rivals like Ethereum (ETH) and Solana (SOL), Maher said Cardano has not witnessed significant rallies this year. For instance, while ETH and SOL have recorded year-to-date (YTD) gains of 20.7% and 52.4%, respectively, ADA is down 34.3% in the same timeframe.  

3 Reasons Cardano Has Slumped Heavily in 2024 

Consequently, the YouTuber identified three key reasons why Cardano has struggled with stagnation since 2022. 

First, he indicated that Cardano does not have a core narrative like Ethereum and Solana. He stated that the spot-based ETF narrative fueled Ethereum’s price action while SOL recorded significant gains from the growing popularity of memecoins on its platform. However, Maher suggested that Cardano does not have any of these fundamentals to drive its price. 

Second, Maher said Cardano’s complex core values seem difficult for investors to understand compared to its competitors. He indicated that Cardano’s complex core values have hindered its development and adoption. 

Lastly, the YouTuber mentioned that Cardano lacked vibrant community engagement early in the year. He noted that Cardano’s enthusiasts barely promoted the project’s strength on social media.  

How Cardano Could Surge 10x This Season

He claimed that investors’ perception of Cardano changed when he intervened via his May 7, 2024 tweet. 

“Cardano fans need to realize that crypto is a self-fulfilling prophecy. If you go around all day saying, ‘There’s no hype in Cardano anymore…’ Guess what? There will be no hype. Lesson: If you like something, speak on the aspects you like about it,” Maher tweeted in May. 

Interestingly, Maher observed a shift in sentiment a few days after the tweet, with many referencing his post as a marker for this change. He noted that positive sentiment in the Cardano ecosystem skyrocketed a few weeks later and has remained so to this day. 

According to Maher, Cardano is gradually getting the memecoin hype observed in the Solana ecosystem earlier this year. He noted that projects like Snek (SNEK) and Nike (NIKE) are leading Cardano’s memecoin sector. It bears mentioning that the Nike coin is a memecoin themed after Cardano founder Charles Hoskinson’s pig, NIKE.  

“Cardano is a rock-solid project with rock-solid fundamentals. All it needs is a better perception of its narrative and brand, and then we will see that price increase,” Maher said. 

Per Maher, Cardano’s price could soar up to 10x as long as the community builds the hype in this bull run. In the meantime, Cardano is trading at $0.3905, with a 24-hour gain of 3.67%. Therefore, the price of ADA could soar to $4.29 if it surges 10x or 1,000% from its current price. 

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