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XRP to $8: Analyst Says You Have Messed Up If You Don’t Open Long Positions

Abdulkarim Abdulwahab
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XRP to $8: Analyst Says You Have Messed Up If You Don’t Open Long Positions

Technical analyst “Lucky Chart Ape” argues that market participants who fail to open multiple long positions on XRP may have themselves to blame.

In a recent post on X, the widely followed analyst conveyed that investors’ approach to XRP over the next six months could significantly impact their financial status. Specifically, Lucky Chart stressed that XRP traders could encounter “life-changing” returns from XRP before 2024 ends. 

Accordingly, he warned that active market participants who ultimately failed to open enough long contracts for XRP before the price hit $8 will have “messed up.” This sentiment highlights the analyst’s anticipation of a historic XRP run before the year ends, potentially hitting a new peak at $8.

How Will XRP Hit $8?

Despite Lucky Chart Ape’s optimistic forecast for XRP, he failed to provide a specific reason behind his bullish outlook for the next few months. Consequently, commenters have continued to question how exactly XRP could achieve the $8 mark.

One individual attempted to fill in the gap, suggesting that XRP’s price surge often occurs towards the end of a bull run when it tends to catch up with Ethereum’s market capitalization. According to this commenter, XRP’s value could rise between $8 and $9 if this pattern repeats.

Interestingly, this proponent’s theory is supported by historical data. During the 2016/2017 cycle, XRP entered a bullish phase towards the end, when Bitcoin and other cryptocurrencies had already reached their all-time highs. In less than four weeks, XRP’s price skyrocketed from around $0.24 in December 2017 to an all-time high of $3.84 on January 4, 2018. 

During this run, XRP overtook Ethereum in market cap. Essentially, the commenter hopes that XRP will repeat this late-blooming rally and potentially reach the $8 mark.

Is the Technical Analyst’s $8 Projection Genuine? 

Meanwhile, it is worth noting that other market commenters have expressed skepticism about whether Lucky Chart Ape genuinely believes XRP could reach $8 or if his comment was merely sarcastic. 

This skepticism is based on the fact that the technical analyst has rarely commented on XRP’s performance and, on those occasions, has not been very optimistic about the coin.

Previously, his last analysis on XRP suggested that it would underperform compared to Bitcoin’s bull run. In one of the rare instances where he provided an outlook for XRP, he projected the asset to only reach $1.3. This starkly contrasts with the $8 sentiment shared in his latest post.

Bitcoin Exchange Reserves Drop to 2018 Levels, Will Demand Overpower Supply?

Albert Brown
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Bitcoin Exchange Reserves Drop to 2018 Levels, Will Demand Overpower Supply?

The reserve of Bitcoin on centralized exchanges has been drying up amid Bitcoin grappling with the $61,000 level, experiencing difficulty breaking through this crucial resistance. 

Over the weekend, Bitcoin traded within a narrow range of $59,000 to $61,000, with little volatility. This sideways movement reflects the market’s uncertainty following a turbulent week. Despite this, analysts suggest potential market developments that could drive Bitcoin’s price action soon.

Bitcoin Reserves Reach 2018 Levels

For instance, recent data from CryptoQuant reveals that Bitcoin reserves on centralized exchanges have decreased to levels last seen in November 2018. MartyParty, the host of Crypto Traders Club, noted this decline, which signals a growing trend of investors moving their assets off exchanges, likely into cold storage. 

Bitcoin reserve on exchanges | CryptoQuant
Bitcoin reserve on exchanges | CryptoQuant

This shift reduces the amount of Bitcoin available for trading, potentially impacting liquidity and future price movements. The current level of 2.68 million BTC on exchanges, according to CryptoQuant, underscores a significant change in investor behavior, with potential implications for market dynamics in the coming months.

As the reserves continue to stay low, any increase in demand could trigger a supply squeeze, potentially leading to rapid price increases.

Price And Exchange Reserves Are Inverse

The observed correlation between Bitcoin exchange reserves and its price reveals a notable inverse relationship, particularly from 2022 onwards.

As the reserves on centralized exchanges have consistently decreased, the price of Bitcoin has shown a tendency to rise.  This typically suggests that the reduced availability of Bitcoin on these platforms is contributing to upward price pressure due to supply scarcity. 

This Pattern Suggests Potential Upside

Elsewhere, adding to the optimism, analyst Miles Deutscher has pointed out that Bitcoin’s current price action mirrors a pattern observed in 2023. The 2024 chart shows similar movements, with a series of rallies and corrections resembling last year’s trends. 

If this fractal pattern holds, Bitcoin might experience a period of consolidation followed by a substantial rally in Q4 2024 or Q1 2025. The 2023 pattern, which saw a strong surge in October, could be an indicator of what’s to come, provided the market continues to follow this historical trajectory.

This Analyst Has a Cautious Approach

In contrast to the optimistic outlook presented by these experts, veteran chart trader Peter Brandt offers a more cautious perspective. Yesterday, Brandt identified an expanding triangle pattern in Bitcoin’s price chart, a formation that typically precedes significant moves. However, unlike the fractal analysis suggesting a bullish expansion, Brandt emphasized the absence of a confirmed breakout. 

He cautioned that trading during this range-bound period carries high risks, as the lack of a clear trend could lead to false signals. Brandt’s strategy, rooted in classical charting principles, involves waiting for a decisive breakout before entering the market, highlighting his skepticism about the immediate bullish prospects suggested by other analysts.

Bullish Trend Emerges on Shiba Inu Chart, Signals Potential Price Surge

Lele Jima
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Bullish Trend Emerges on Shiba Inu Chart, Signals Potential Price Surge

Shiba Inu’s days of price declines could soon be over as SHIB’s chart flashes signs of a potential price increase. 

Notably, a higher low pattern recently emerged on the Shiba Inu chart, suggesting the beginning of a potential trend reversal. As a result, Shiba Inu could be preparing for a price increase after its recent decline.

According to Shiba Inu’s chart, the asset, which recently found support around the $0.000013 price territory, formed a higher low pattern. This action indicates an increased buying interest for Shiba Inu as selling pressure lessens. 

Potential Trend Reversal 

Recall that Shiba Inu faced intense selling pressure recently following a sharp drop in Bitcoin’s price. Consequently, SHIB’s price plunged 4.09% yesterday to $0.00001367. Interestingly, the emergence of a higher low on Shiba Inu’s chart marks a crucial sign that this downtrend is reversing. 

At the moment, Shiba Inu is currently trading at a critical juncture, slightly above the 50-day EMA (Exponential Moving Average). The state of the market would determine whether this level would act as a resistance or support. Holding above the 50-day EMA could usher in a significant price surge. Conversely, falling below this level could lead to further price declines for SHIB. 

In the meantime, Shiba Inu faces major resistance around the $0.000014 level. Coinciding with the 200-day EMA, this resistance is important in confirming Shiba Inu’s trend reversal and possibly fostering a major price increase. It bears mentioning that the market could see new changes that could negate this analysis. 

SHIB Plunges 0.35% Ahead of CPI Data Release   

Meanwhile, Shiba Inu is currently trading at $0.00001365, reflecting a decline of 0.31% over the past 24 hours. In contrast, Shiba Inu has witnessed a slight gain in the weekly charts at 3.1%. 

SHIBUSDT 2024 08 13 09 46 36
SHIBUSDT

Investors are awaiting the release of the United States Consumer Price Index (CPI) data. The July 2024 CPI data is scheduled for tomorrow, August 14, 2024, at 08:30 AM (EDT). 

Notably, investors expect this data to trigger market volatility, as witnessed in previous months. Hence, many might decide not to commit much funds to their favorite tokens until the volatility settles. 

Pundit Says XRP Is the One, Outlines Quotes from Big Names to Prove It

Sam Wisdom Raphael
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Pundit Says XRP Is the One, Outlines Quotes from Big Names to Prove It

XRP community pundit Ashley Prosper compiles a list of statements from top individuals and leading financial institutions highlighting XRP’s unique utility.

Prosper, a well-known figure within the XRP community, recently curated a collection of statements from prominent financial institutions and industry leaders, calling attention to XRP’s unique value proposition. 

Ripple’s Vision for Cross-Border Payments

His aim was to reinforce XRP’s significance, particularly in cross-border payments—a field where Ripple has made significant strides.

Ripple CEO Brad Garlinghouse has been one of the most vocal advocates for XRP’s utility. Cited by Prosper, Garlinghouse has continued to emphasize XRP’s role as a bridge currency. In May, he confirmed that Ripple is still 100% behind XRP despite prevailing comments suggesting otherwise.

This is a significant advantage over traditional systems, which are often slow and costly due to the involvement of multiple intermediaries.

Adding to this perspective, David Schwartz, Ripple’s CTO, has described XRP as being designed to be a better version of Bitcoin. Schwartz remarked that XRP improves on some of the features of Bitcoin while speaking at an AMA organized by The Next Web in August 2018.

He emphasized that Bitcoin’s proof-of-work consensus mechanism is expensive and is not as decentralized as touted. The Ripple CTO further asserted that PoW does not have any viable answer to any majority attack that might emerge. The XRPL addresses all these issues. 

Endorsements from Leading Financial Institutions

Prosper’s compilation includes endorsements from several leading financial institutions. A notable mention is Bank of America, which highlighted in a 2019 report that Ripple’s technology is useful for being able to settle cross-currency transactions quickly. 

Prosper also spotlighted remarks from Bank of America’s vice chairperson for Global Strategy Cathy Bessant. While the remarks could not be verified, reports from 2019 did suggest that Bank of America was quietly looking to leverage Ripple’s technology.

In addition, Bank of America released a report last July on the payment sector in the Asia Pacific (APAC) region. The report acknowledged Ripple’s role in facilitating efficient cross-border settlements within the region.

Prosper also mentioned JP Morgan with the bank stating that if Ripple wins its ongoing lawsuit with the SEC, XRP could see significant adoption. The investment bank noted this in a research report published in November 2021. The recently concluded legal battle was a focal point for XRP’s future.

XRP Global Recognition

Christine Lagarde, President of the European Central Bank, is another individual that has recognized Ripple’s efforts. In a previous statement, Lagarde discussed Ripple’s work toward improving the efficiency of payments amid an imminent disruption of banking.

Moreover, in a 2020 report, the World Economic Forum (WEF) has identified XRP as one of the most important cryptocurrencies for cross-border payments. This endorsement from a globally respected organization underscores the potential of XRP to play a pivotal role in the future of international finance. 

During the 2023 WEF Annual Meeting, Ripple discussed cross-border payments and the prospect of providing liquidity. The firm called attention to the expanding use case of blockchain technology in the mainstream financial scene.

In addition to these endorsements, Jesse Lund, a former executive at IBM, commented on Ripple’s approach with XRP. Lund, who was the Head of Blockchain Solutions at IBM, praised the use of XRP for payment settlement. These comments came on the back of the introduction and of IBM’s World Wire payment system in 2019.

SBI Holdings, a Japanese financial services company and a key Ripple partner, has expressed confidence in XRP’s potential to become a standard for cryptocurrencies in the cross-border payment scene. Yoshitaka Kitao, the CEO of SBI Holdings, has consistently advocated for XRP.

Shiba Inu Highlights Token That Could Become First Memecoin to Hit $100B Market Cap

Lele Jima
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0
Shiba Inu Highlights Token That Could Become First Memecoin to Hit $100B Market Cap

Shiba Inu’s official Magazine The Shib questions whether Kendu Inu (KENDU) has the potential to become the first memecoin to hit a market cap of $100 billion. 

Shiba Inu raised the question in an X post yesterday, attaching a link to a blog post that offered answers.

According to the blog post, Shiba Inu noted that Kendu Inu, which initially launched as a memecoin, aims to clinch the $100 billion valuation. 

A Bold Step 

It stated that Kendu planned to achieve this aim by focusing on the NFT space following the launch of the Kendu Chads NFT Marketplace. Interestingly, Shiba Inu characterized this move as a bold step that could transition Kendu from its memecoin origin.  

The blog post highlighted Kendu’s approach, prioritizing community-driven values over rapid growth. This is also reflected in Kendu’s recently launched NFT Marketplace, which adopts a revenue-sharing model that benefits KENDU holders.  

How Kendu Team Plans to Drive Adoption for Its Marketplace 

In the meantime, Kendu’s pseudonymous founder, Kendu Miazaki, is confident that the marketplace will gain widespread adoption. Miazaki’s assertion comes amid growing concern about whether the memecoin-backed NFT Marketplace could attract quality creators. 

The founder identified Kendu’s community support as a major advantage the NFT Marketplace has over other platforms. Kendu aims to attract the backing of other communities by using a portion of the marketplace fees to support other projects like Shiba Inu. In particular, Miazaki intends to use part of the fees to acquire SHIB. 

It remains to be seen whether Kendu’s approach could redefine the NFT landscape, thus potentially helping the token become the first memecoin to hit a $100 billion market cap. 

$100 Billion Market Cap Debate 

As the memecoin market continues to gain popularity, crypto enthusiasts have been embroiled in a debate regarding which meme-based token would first achieve the $100 billion valuation. This debate has been limited to the popular names in the memecoin market, including Dogecoin (DOGE) and Shiba Inu (SHIB). 

DOGE and SHIB emerged as favorites due to their previous successes in the market. However, Shiba Inu believes Kendu could become the first memecoin to hit the $100 billion valuation. 

In the meantime, KENDU sits in the 2,739th spot in the global crypto ranking, with a market cap of $100.36 million. Priced at $0.0001001, KENDU has a circulating supply of 996.75 billion tokens. At press time, the price of KENDU is up 15.01% over the past day. 

Deribit Sees 4,362,000 Contracts Betting on XRP Price Surge to $1.10

Abdulkarim Abdulwahab
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Deribit Sees 4,362,000 Contracts Betting on XRP Price Surge to $1.10

The options market for XRP on Deribit is experiencing a significant surge in activity, with the call option above the $1 price emerging as the most favored option on the exchange. 

Notably, the $1.10 option represents a bet that the price of XRP will double by the end of the month, considering it is currently valued at $0.566. At press time, the open interest for this option, which expires on Aug. 30, stands at 4,362,000 contracts, valued at $2.46 million. This figure makes it the most popular XRP option on the Deribit exchange.

Notably, the XRP options market launched only five months ago. In that time, active bets have increased by over 830,000 contracts.

XRP options on Deribit
The last three biggest XRP Options on Deribit

For context, when a buyer places a call option, the instrument allows him to purchase XRP at the agreed price sometime in the future but before the date of expiry. Essentially, a call buyer is optimistic about the market’s prospects by betting that the price will rise above the strike price at which the call was purchased. 

Factors Driving Increased Bets on XRP Attaining $1.10 

Griffin Ardern, Head of Options Trading at BloFin, stressed that if XRP breaks the $0.75 barrier, it sets the stage for continuation towards $1.10. Moreover, he also suggested that the possibility of institutions applying for an XRP exchange-traded fund (ETF) in the U.S. could be a key factor driving up prices.

Additionally, the optimism surrounding XRP’s price prospects may be driven by the recent court ruling in favor of Ripple Labs. The development has sparked hopes of a potential XRP ETF launching in the U.S.

“Wen XRP ETF,” tweeted Nate Geraci, President of ETF Store, in response to Ripple’s lawsuit victory.

Notably, the SEC’s approval of Bitcoin and Ethereum ETFs opened doors to billions of dollars in mainstream money, impacting the price of BTC and ETH. Investors may be betting on XRP as it is likely the next in line.

$1.10 For XRP This Month is Overambitious

However, not everyone is convinced that XRP prices can rally beyond $1.10 by the end of August. Trader Martin Cheung cited that XRP has already rallied significantly this year and that a potential ETF announcement might increase prices by around 20%, but $1.10 looks too ambitious.

Analyst Predicts Number of Memecoins in the Top 100 to Rise from 7 to 25

Albert Brown
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Analyst Predicts Number of Memecoins in the Top 100 to Rise from 7 to 25

The cryptocurrency market is currently witnessing a recovery from its dip in the recent past, particularly within the memecoin sector. 

On-chain data and market behaviors indicate a bullish outlook for these unique digital assets. Per CoinMarketCap data, the total market capitalization for memecoins has grown to approximately $38.55 billion, marking a 2.25% increase.

This uptick is complemented by a robust trading volume of $3.92 billion, up 21.72% and signaling strong investor engagement and optimistic market sentiment.

Top 100 Memecoins

Amid this market recovery, memecoin analyst Murad Mahmudov highlighted to his 128,000 followers on social media the potential for expansion within this niche. At the reporting time, of the 100 largest cryptocurrencies, only 7 are memecoins.

According to Mahmudov, the number of memecoins ranked among the top 100 cryptocurrencies is poised to increase significantly, from 7 to over 25. Currently, established players like Dogecoin and Shiba Inu are not only leading the pack but also showcasing steady market performance.

Screenshot 59
Top 100 Memecoins

Dogecoin, ranked ninth, has seen a 5.25% increase over the past week, reaching a market cap of over $15.28 billion. Meanwhile, Shiba Inu holds the 13th spot with a market cap of $8.08 billion despite a slight decrease of 1.46%. Other memecoins in the spotlight include Pepe, Dogwifhat, Bonk, Floki, and Brett (Based), each presenting varying degrees of market fluctuations but maintaining positions within the top 100.

Imminent Top 100 Contenders 

Beyond the established memecoins, newer entrants like DJT and Book of Meme (BOME) are generating interest. BOME, in particular, has seen a staggering 3,000% increase in value since its launch on March 22, 2024, riding the wave of the Solana ecosystem’s growing popularity. BOME seeks to transform web3 dynamics by merging meme-based content with decentralized storage technologies.

Additionally, POPCAT and Neiro Ethereum are showing promising signs. POPCAT has recorded a notable 117% increase in value within two weeks, while Neiro Ethereum, amid a temporary market downturn, is anticipated to experience a rebound. 

MAGA (TRUMP), a memecoin designed purely for entertainment purposes and not officially linked to Donald Trump, features elements that mirror his public persona. This association means that fluctuations in his political activities, especially with potential election outcomes, could significantly impact the coin’s market value.

Underlying Shift in Dogecoin Reveals 65% Upside To $0.17

Albert Brown
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Dogecoin forms a triangle, and now looks to engineer a bull run if buyers can fracture the overhead trendline. Will Dogecoin witness a breakout run to pull the crypto market out of a bearish dug?

As the broader market recovery faces another hurdle, with Bitcoin flashing under $60K, altcoins are under stress. However, a refreshing breeze in meme coins like Dogecoin signals a potential breakout run in the coming days. Will DOGE prices skyrocket in the foreseeable future?

Dogecoin’s New Bull Cycle Within Triangle

In the 4-hour chart, the Dogecoin price trend reveals a bullish attempt to perform a V-shaped recovery. However, the overhead bearish influence keeps the bullish recovery under check.

The higher low formation and the overhead bearish influence has led to two converging trend lines forming the triangle pattern. A triangle pattern relates to a volatility constriction and leads to trend continuation.

Dogecoin Price Chart
Dogecoin Price Chart

The triangle pattern is formed by the 40% drop in just 10 days of correction, which concluded on Black Monday last week, near the $0.0845 support level. However, the low was formed at $0.080, and since then, the price has increased by 30.18% in 8 days. 

Currently, the Dogecoin price trades at $0.10507, near the overhead resistance trendline.

Technical Indicators Increase Optimism

Basing the Fibonacci retracement levels over the correction phase, the Dogecoin recovery run tests the 38.20% Fibonacci level at $0.10528. Using the Fibonacci retracement levels, the upside targets are at 50% ($0.11168), 61.80% at ($0.11807), 78.60% ($0.12717) and 100% ($0.13877).

In the 4-hour chart, the MACD and signal lines remain uncertain, moving sideways in positive territory.  

Coming to the on-chain indicators, IntoTheBlock shows 73% of Dogecoin holders making money at the current price. Meanwhile, 25% are at the money, and 26% of holders bought DOGE at prices higher than its current value.

Dogecoin Overview
Dogecoin Overview

Furthermore, 67% of Dogecoin holders have HODL $DOGE for more than a year. While just 2% of holders are new with less than 1 month of holding period. 

Will Dogecoin Surpass $0.15?

In the 4-hour chart, Dogecoin shows a bullish cycle, struggling to break above the overhead trendline, leading to a sideways shift. However, the underlying shift in momentum supports the possibility of a bullish breakout. 

With a breakout run in Dogecoin fueled by the broader market recovery, bulls can reclaim the $0.12 mark shortly. On a larger horizon, $DOGE could find 1.618 Fibonacci levels at $0.17226 as a potential target. Hence, the current analysis reveals an upside potential of 65%. 

Shiba Inu Issues Critical Warning About Telegram Airdrops

Lele Jima
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0
Shiba Inu Issues Critical Warning About Telegram Airdrops

Shibarmy Scam Alerts, Shiba Inu’s official scam channel, calls the public’s attention to a growing scam tactic on popular messaging platform Telegram. 

In a recent X post, the channel warned Shiba Inu enthusiasts about the presence of multiple fake airdrop groups on Telegram.

These schemes usually encourage participants to perform specific tasks in exchange for free tokens. The malicious actors behind the airdrop then prompt users to connect their wallets to receive the free tokens. Users risk having their funds drained after following the instructions and connecting wallets. 

Latest Warning 

Due to the growth in Telegram-based airdrop, Shibarmy Scam Alert warned the community to be vigilant and avoid connecting their wallets to suspicious websites offering free tokens. 

Shibarmy Scam Alerts’ concern stems from the fact that these malicious airdrop schemes are created to drain participants’ funds. 

“Stay safe, Shib Army, and keep your eyes open,” the Shiba Inu-focused scam channel warned. 

Furthermore, the channel attached a sample of one of these fake airdrop groups on Telegram. Dubbed K9 Finance DAO News, the malicious group with 11,069 members urged people to forward the airdrop post in exchange for $2,000 worth of KNINE tokens. For context, K9 Finance DAO is Shiba Inu’s official liquid staking partner. 

Growing Scam on Telegram 

The number of malicious actors has spiked within the crypto space. These bad actors have devised several methods to steal users’ funds. Recently, they have been using fake airdrop schemes and encouraging users to complete different tasks to receive free tokens. 

Meanwhile, popular messaging platform Telegram has become the hotspot for these fraudulent activities. This occurred after people who missed out on the Notcoin airdrop, a tap-to-earn Telegram game, sought similar opportunities. 

Expectedly, scammers have taken advantage of this demand by launching similar schemes and urging participants to connect their wallets. 

This never ends well, as participants usually get scammed. Hence, it is imperative always to conduct due diligence on any airdrop schemes to avoid losing your crypto holdings. 

Previous Shiba Inu Warnings 

The good thing is that Shibarmy Scam Alerts has continuously informed SHIB holders about new fraudulent schemes in the industry. 

In June, the channel warned users about the presence of fake Telegram accounts impersonating Shiba Inu ecosystem team members. It also cautioned the community against engaging in celebrity-led crypto projects in the same timeframe. 

These warnings help protect Shiba Inu community members and prevent them from falling victim to malicious schemes. 

XRP Gearing Up for Its Biggest Breakout Ever, Top Trader Spots Bullish Signs on Monthly Chart

Abdulkarim Abdulwahab
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0
XRP Gearing Up for Its Biggest Breakout Ever, Top Trader Spots Bullish Signs on Monthly Chart

Steph, a notable trader in the crypto community, has spotted signs on the monthly timeframe on the XRP chart suggesting that the asset is gearing up for a historic run.

The trader disclosed his observation in a recent analysis shared on X, accompanied by XRP’s historical chart. The graph notably depicts that since the last major price spike, the asset’s patterns have been marked by lower highs, forming a nearly seven-year consolidation phase in the shape of a symmetrical triangle.

According to Steph, this formation suggests that XRP has reached a critical decision point, and the next move could be the largest breakout in the asset’s price history. However, he did not provide a specific price target for the potential breakout.

XRP chart on Monthly
XRP chart on Monthly

Notably, Steph is one of several market observers who have recently highlighted a bullish outlook for XRP on the monthly chart.

XRP Potential Breakout Target on Monthly

In his analysis, market watcher Heikin Ashi shared a chart predicting that XRP could experience a breakout that leads to an extraordinary 700X price increase, potentially reaching around $305. 

Ashi outlines several growth phases for XRP, suggesting that the asset could first rise to $1.20. If momentum continues, XRP might then reach $2, paving the way for further increases to $6 and $20 before ultimately reaching the $305 mark.

Other analysts have also issued comparable bullish sentiments about XRP when observing the asset through other market indicators. 

Diminishing Conviction in XRP Prospect

However, market participants are increasingly losing confidence in these bullish observations as the XRP price trajectory underwhelms investors.

One X user expressed frustration with these repeated predictions, responding to Steph’s latest analysis, “How is it that every week for years, people have been saying this and still think it’s gonna happen?”

When Ripple’s court cases with the SEC ended last week, some analysts argued that XRP could leverage the event’s fever to commence the much-awaited uptrend. However, this has yet to occur. While XRP briefly spiked to $0.64 following the event, it now trades at $0.5625.

X user Robert Ferreira responded to Steph’s analysis by pointing out that even with legal clarity and favorable rulings, XRP’s price remains stagnant. He noted that XRP is the most hyped coin in history, yet it remains significantly below its all-time high, stating:

“It’s a big fat, nothing burger. Read the charts any way you want.”

Despite this prevailing pessimistic perspective, enthusiastic XRP supporters remain undeterred about the asset’s prospects.

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