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Top Analyst Says Something Big Happening For Bitcoin, As 404,448 BTC Locked in Permanent Addresses

Albert Brown
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Top Analyst Says Something Big Happening For Bitcoin, As 404,448 BTC Locked in Permanent Addresses

While the price of Bitcoin recently revisited $49K, investors with long-term outlooks have continued to top up their holdings, accumulating over $23 billion in BTC.

According to Ki Young Ju, founder of analytic platform CryptoQuant, a whooping 404,448 BTC has moved to permanent holder addresses over the past 30 days, signaling a significant accumulation phase.

“I’m pretty sure something is happening behind the scenes.”

 

Going by Bitcoin’s current value of $57,400, the BTC tokens now stashed in long-term holder wallets amount to a staggering $23,215,315,200 ($23.21 billion). This observation suggests that long-term holders are confident in Bitcoin’s future performance despite recent price volatility.

Bitcoin Accumulation by Permanent Holders

The accompanying CryptoQuant chart reveals the relationship between Bitcoin’s price and the 30-day demand change in permanent holder addresses. Notably, the chart highlights significant accumulation periods, including late 2020, early 2021, 2022, and mid-2024.

The most recent peak shows over 400,000 BTC now resides in permanent holder addresses, the highest level of accumulation observed in the chart.

Screenshot 24

Notably, March 2024 saw significant accumulation of over 300,000 BTC, correlating with a brief surge in price. The CryptoQuant CEO has also previously noted an instance in July when 358,000 BTC moved to permanent holder addresses, with global spot ETF inflows reaching 53,000 BTC.

Who’s Accumulating Bitcoin?

In a follow-up update, Ki Young Ju hinted at the entities behind the increased BTC assets going to accumulation addresses. He suggested that within a year, traditional financial institutions, governments, and other prominent entities will disclose their acquisition of BTC during the Q3 market dip.

As a result, he anticipates that retail investors will regret not capitalizing on the low prices and being too focused on the selling pressure in the market without considering those buying BTC.

Accumulation/Distribution Indicator

Notably, Young Ju’s observation of BTC accumulation is supported by the steady rise in the Accumulation/Distribution (A/D) indicator from late 2023 to mid-2024. This indicates more buying pressure than selling pressure despite price volatility.

The A/D indicator, which measures the cumulative flow of money into and out of an asset, shows that despite the recent price correction, the A/D line has remained stable at around 4.327 million.

This stability suggests that long-term holders are not selling off in large quantities and indicates strong confidence in Bitcoin’s future performance.

A/D chart from TradingView

A/D chart from TradingViewUltimately, it is also important to recall in July, the number of wallets holding at least 10 BTC increased by 261, bringing the total to 152,000—the highest count since May 2021.

This surge in large-holder wallets contrasts sharply with the behavior of small traders, who have been selling off their holdings, further emphasizing the confidence of significant investors in Bitcoin’s long-term value.

Here’s is XRP ABCDE Pattern that Could Finally Take XRP to $5-$6

Sam Wisdom Raphael
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Here’s is XRP ABCDE Pattern that Could Finally Take XRP to $5-$6

Pseudonymous analyst Dark Defender recently highlighted a critical ABCDE pattern on the XRP monthly chart, suggesting potential bullish movements. 

The pattern, which spans several years, features crucial price movements recorded by XRP since 2014. Notably, the pattern provides reasonable insights into XRP’s possible next direction.

The ABCDE Pattern

The ABCDE pattern began with XRP’s extraordinary surge of 117,693% from a low of $0.00281 in July 2014 to its all-time high of $3.31 in January 2018. Dark Defender’a chart shows this monumental rise with a long blue line on the monthly timeframe.

However, the bullish momentum could not sustain itself, leading to a sharp correction as the crypto market dropped. XRP collapsed by 96% from its peak to a low of $0.1140 in March 2020, marking the beginning of the A movement.

XRP Monthly ABCDE Pattern
XRP Monthly ABCDE Pattern | Dark Defender

Subsequently, in the B movement, XRP witnessed a resurgence, climbing 1,624% from the $0.1140 low to $1.966 in April 2021. Yet again, the cryptocurrency faced a significant drop, declining 84% from $1.966 in April 2021 to $0.3148 in November 2022, forming the C movement. 

The D movement saw another recovery, with XRP gaining 195% from the $0.3148 low to $0.93 in July 2023. Finally, the E movement recorded a 59% drop from $0.93 in July 2023 to $0.3824 in July 2024.

XRP’s Next Possible Direction

These movements complete the ABCDE pattern, as shown in Dark Defender’s analysis. The formation of this pattern has triggered discussions within the XRP community about the XRP’s next potential direction. 

Dark Defender proposed three possible paths for XRP: a flat C wave leading to a drop to $0.22, an irregular-expanded C wave plunging to $0.09, or the completion of the ABCDE pattern, setting the stage for a rally towards $5.85.

In response, Jan, a community member, dismissed the bearish scenarios, arguing that the current bull market, Ripple’s expansion moves, and the potential end of the lawsuit make such low prices unlikely. He emphasized that even smaller dips have been short-lived, suggesting that a significant drop to $0.22 or $0.09 is unrealistic.

A Proposed XRP Rise to $6

Meanwhile, market analyst EGRAG provided a more bullish outlook. He pointed out that the U.S. market is in an expansion phase and Bitcoin has already hit new all-time highs. Recall that BTC clinched a new ATH above $73K in March.

EGRAG believes that the overall narrative is favorable for XRP, and the ABCDE pattern is complete, paving the way for it to reach $6.4 (Fib 1.618) as a minimum target. He noted that unless an unforeseen event occurs, the bullish trajectory for XRP is highly plausible, presenting a generational buying opportunity if any unexpected dips occur.

Meanwhile, XRP is currently in a short-term recovery phase following the recent market collapse. The Bollinger Bands, which measure volatility, indicate that XRP has been trading within a relatively narrow range, suggesting consolidation. 

XRP RSI and Bollinger Bands
XRP RSI and Bollinger Bands

Also, the RSI shows XRP’s current position at 41.57, which is below the 50 mark, indicating that it is in a neutral to slightly bearish zone. The recent upward movement suggests that XRP is recovering from oversold conditions, possibly gearing up for a bullish run. XRP currently trades for $0.5130.

Shiba Inu Lead Responds to Vitalik Buterin, Says ‘He Won’t Be Surprised

Abdulkarim Abdulwahab
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Shiba Inu Lead Responds to Vitalik Buterin, Says ‘He Won’t Be Surprised

Shiba Inu lead developer Shytoshi Kusama is confident that interoperability issues between scaling solutions on the Ethereum network could be resolved sooner than people expected.

Kusama shared this sentiment while reacting to a recent post from Ethereum co-founder Vitalik Buterin. The Ethereum founder argued that cross-L2 interoperability problems could soon disappear, noting that many would be surprised by how quickly this would occur. 

He believes the issues related to the interaction of various Layer 2 (L2) scaling solutions on the Ethereum network will be resolved sooner than people expect. 

Ethereum L2 Interoperability Problems

For context, cross-L2 interoperability refers to the ability of different L2 solutions to interact seamlessly, creating a better user experience. L2 solutions improve the scalability of the Ethereum network by processing transactions off the main Ethereum chain (L1) while leveraging its security.

Buterin previously illustrated a case of lack of interoperability in depositing tokens to Polymarket through the Polygon L2 network. The current process demands that users meticulously select the right chain—Polygon, not “Polygon zkEVM”—to avoid losing their funds.

Buterin stressed that the ideal process should not have such a requirement as it is confusing and prone to errors. Instead, users should be able to deposit via their chosen network seamlessly without needing to pay extra attention.

As a result, the Ethereum founder has continued championing calls for a better experience for crypto users via various Ethereum Improvement Proposals (EIPs). They include EIP-3770, EIP-7683, and EIP-3668.

L2 Interoperability Solutions

Notably, EIP-3770 introduces a new wallet address format with readable prefixes for different chains. This format makes it easier for users to identify the correct network and reduces errors in wallets and decentralized applications.

Meanwhile, EIP-7683 standardizes cross-chain trade communication. It enables seamless network interactions by creating a common language for bridges and decentralized exchanges.

EIP-3668 proposes a standardized solution for Ethereum smart contracts to access off-chain data efficiently, using “Layer-2 light clients.” This can significantly reduce on-chain data storage costs.

Buterin noted that there is significant effort and determination within the Ethereum community to address and overcome interoperability challenges through these EIPs. He is optimistic that users will soon experience a more seamless interaction across different parts of the Ethereum ecosystem, including:

  • L1: The main Ethereum blockchain.
  • Rollups: L2 solutions that process transactions off-chain.
  • Validiums: L2 solutions similar to rollups but with off-chain data storage, providing different scalability benefits.
  • Sidechains: Independent blockchains that run parallel to Ethereum and are interoperable.

Shiba Inu Lead Reacts

Reacting to Buterin’s optimism that cross-L2 issues would be resolved much sooner than many hope, Shiba Inu’s lead developer, Shytoshi Kusama, remarked that he would not be surprised at all. 

Notably, the Shiba Inu ecosystem also boasts an Ethereum layer-two scaling blockchain, Shibarium.

Top Exchange Calls Shiba Inu, Dogecoin, and Neiro ‘Ultimate Crypto Trio’ 

Lele Jima
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Top Exchange Calls Shiba Inu, Dogecoin, and Neiro ‘Ultimate Crypto Trio’ 

Leading crypto exchange LBank heaps praises on Shiba Inu (SHIB), Dogecoin (DOGE), and Neiro Ethereum (NEIRO), describing them as the ultimate crypto trio.

The top exchange made the disclosure yesterday. According to an X post, LBank asked its followers to indicate whether the so-called “ultimate crypto trio” will champion the resurgence of the memecoin market. 

Can NEIRO Replicate SHIB and DOGE Rally This Season? 

LBank’s characterization of SHIB, DOGE, and NEIRO as the ultimate crypto trio is a remarkable feat for the Neiro project, given its relatively newer presence compared to SHIB and DOGE. NEIRO has been causing a stir since its launch on July 27, 2024. 

The growing interest in Neiro Ethereum stems from its tremendous surge from a modest price to $0.21 in just a few days. Following the remarkable surge, several market watchers tipped NEIRO to become this bull cycle’s Shiba Inu and Dogecoin.

It is common knowledge that Dogecoin and Shiba Inu recorded substantial price increases during the 2020/2021 bull cycle. For instance, the team behind the Shiba Inu ecosystem pointed out that SHIB’s price surged 150,000,000% just over a year after its launch on August 1, 2020. Similarly, DOGE experienced a remarkable rally, surging 9,884% between January and May 2021. 

Interestingly, NEIRO shows signs that it could replicate this feat in the 2024/2025 bull cycle. The Neiro team adopted a similar marketing tactic Shiba Inu used in 2021 by gifting Ethereum’s co-founder Vitalik Buterin 4.08% of NEIRO’s total supply or 17.15 billion tokens.

However, shortly after Buterin received the tokens, he sold them for 44.53 ETH, worth $112,448, on August 4. This resulted in a sharp dip in NEIRO’s price. Also, the massive crypto downturn witnessed on August 5 had a bearish impact on NEIRO’s price action. 

Nonetheless, NEIRO rebounded immediately after the volatility, with analysts projecting that the token could hit $0.50 soon. 

Investors Bullish on NEIRO

Meanwhile, LunarCrush recently called attention to NEIRO’s social and trading metrics, emphasizing that the token has registered a new all-time high at $0.2187. It is interesting to note that NEIRO surpassed this record today, with its ATH currently standing at $0.2531.

Following its remarkable surge, LunarCrush indicated that 83% of all posts relating to NEIRO have been bullish. The accompanying image shows that NEIRO’s sentiment has increased by 15.3%, while its social dominance is up 18.8% over the past week. 

Additionally, the number of posts created for the token has increased by 118.7%, and those with interaction have spiked by 244.9% within this timeframe. 

Two Dormant Bitcoin Wallets Transfer 276 BTC After 11 Years of Inactivity

Albert Brown
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Two Dormant Bitcoin Wallets Transfer 276 BTC After 11 Years of Inactivity

As the broader cryptocurrency market shows signs of recovery, notable activities from dormant Bitcoin wallets have captured significant attention. 

On August 7, a miner wallet, inactive for 11 years, transferred 250 BTC (valued at $13.95 million) to five new wallets. This transaction, recently highlighted by Lookonchain, a smart money tracker, is particularly significant, given the historical dormancy of the wallet, which earned 250 BTC from mining in 2010.

Miner Wallet Distributes 250 BTC

According to the smart money tracker, the miner wallet woke up today, at 03:59 UTC. The source address debited the $13.95 million worth of Bitcoin and distributed it to five destination addresses, with amounts ranging from 10 BTC to 60 BTC each.

Screenshot 22

Notably, the wallet’s most substantial profit is recorded in 2024, with $14,022,065. The rising price of Bitcoin over the years has substantially increased the value of the wallet’s holdings, reflecting its exponential growth from $112.24 in 2013 to $56,200.49 in 2024.

It is important to note that the address achieved a percent profit of approximately 49,971% in less than 11 years.

Another Dormant Address Activates

The recent development is part of a broader trend of whale reawakening in recent times. In a separate event, Whale Alert also reported the reactivation of another dormant Bitcoin address containing 26 BTC ($1,499,808). This address had been inactive for 10.6 years, and its original value was $15,235 in 2013. 

Screenshot 23

The transaction, which occurred on August 6, 2024, saw the movement of 20.79 BTC to the Gemini exchange. Notably, this significant transfer to the Gemini exchange suggests a potential sell-off.

July Saw Two Major Reactivations

These recent whale activities are not isolated. In July, Whale Alert indexed the reawakening of two dormant Bitcoin addresses with a combined 155 BTC. One address, dormant for 11.3 years, reactivated with 130 BTC, now valued at $8,423,540. 

Another address, dormant for 10.3 years, transferred 25 BTC, now worth $1,619,912. These movements highlight substantial long-term returns, with one wallet recording an 86,446% return.

Will the Solana Spike Surpass $200 Amid Growing Network

Albert Brown
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Will the Solana Spike Surpass $200 Amid Growing Network

Solana shows a strong bullish overturn from the recent correction, reclaiming the $150 psychological mark. Will the uptrend momentum result in a second break of the overhead trendline to top $200?

As Bitcoin holds above $56K, Solana capitalizes on the improving market sentiments to push the recovery rally. The Ethereum-killer, with a market cap of $71.376B, ranks as the 5th biggest cryptocurrency on CoinMarketCap. 

Aiming to surpass Binance Coin to claim the fourth position, the bull run in Solana eyes $250 as the next 52-week high. So, let’s have a closer look at the SOL price analysis to figure out the next bullish target.

Back in Triangle Puts Solana Buyers at Test

Despite the market crash failing the triangle breakout run, Solana shows bullish dominance at the support trendline. Avoiding a daily closing below the trendline, the bounce back from $110 reclaims the $150 level, accounting for a 40% surge.

Solana Price Chart
Solana Price Chart

Currently, Solana trades at $153, forming a second bullish candle in the V-shaped recovery.  Further, the recovery run from the support trendline heads to rechallenge the overhead broken trendline. 

Following the massive drop into negative territory, the MACD and signal lines witness a minor recovery. As the bearish histograms decline, the chances of a bullish crossover increase in the MACD indicator. 

TVL moved over Solana Hits $793B

Solana's Network Growth
Solana’s Network Growth

The increased movement of TVL worth $793B over Solana and the 570,721 users with SOL wallet balances worth 10-100 reveal increased activity and engagement. Following a minor dip last week, the total value moved on-chain, and the increasing number of active users suggests growth in the Solana network.

Will The 4-hour Breakout Run Surpass $165?

With a bullish breakout of a correction trendline in the 4H chart, Solana’s V-shaped recovery gains momentum. Furthermore, the ADX indicator shows a bullish crossover of the VI lines, signaling a trend reversal. 

Solana Price Chart
Solana Price Chart

As per the pivot point standards (monthly), the bull run is heading towards the pivot point P at $162. This level marks the neckline of the reversal, and a breakout will extend the uptrend. However, a breakout run could find high supply incomings at the resistance levels R1 at $203 and R2 at $235.

A reversal from $162 could retest the broken trendline, losing the $150 mark and hitting a low of $140.

FOMO Set to Hit Shiba Inu Hard as Top Analyst Predicts 7,193% Surge to $0.001

Abdulkarim Abdulwahab
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FOMO Set to Hit Shiba Inu Hard as Top Analyst Predicts 7,193% Surge to $0.001

Armando Pantoja, a member of Benzinga’s crypto advisory board, argues that FOMO is about to “hit hard” on Shiba Inu, projecting a 72X surge to $0.001.

Shiba Inu continues to linger at lower values than it traded a week ago, as it has yet to recover from the Monday market downturn fully. Currently, SHIB is hovering around $0.00001371, reflecting a 2% decline in its 24-hour performance after briefly reaching $0.000014 yesterday.

At its current value, Shiba Inu is down over 17% from the weekly high of $0.00001667. Looking at its performance over the past 60 and 90 days, SHIB has experienced a significant 45% decline.

However, market watchers are optimistic that Shiba Inu’s bearish trend is coming to an end, and the asset is poised for a significant upswing. 

Shiba Inu Set to Explode, Enters Prime Buying Range

In a recent post on X, analyst Armando Pantoja made a compelling case for an imminent surge in SHIB’s value. He pointed to a bullish RSI divergence, indicating that the correction phase is now behind us. 

Accordingly, Pantoja argues that SHIB has entered a prime buying range, suggesting that investors may want to take advantage of the current low prices before the anticipated violent surge past macro resistance.

The optimism surrounding Shiba Inu’s potential surge is rooted in the fact that the cryptocurrency has largely erased its gains from March, with the bearish momentum of this month nearly wiping out its progress. 

In March, SHIB reached a high point of $0.000045, a level it had previously reached in 2021. However, by August, the cryptocurrency had plummeted to $0.00001087. It narrowly avoided a decline to five zeros, a level last seen in late February. This dramatic fall represents a staggering 75% collapse from its March high to its August low.

FOMO to Drive SHIB to $0.001

According to Pantoja, the market now views the current low threshold as an attractive accumulation zone. As a result, Pantoja is predicting a massive FOMO frenzy that will propel Shiba Inu to unprecedented heights at $0.001. 

This would represent a monumental gain for investors who buy in today. Specifically, their portfolios will potentially expand by 7,193% if Pantoja’s prediction comes to pass.

While other analysts also foresee a significant surge in Shiba Inu’s value in the coming day, their projections are generally more conservative. They expect SHIB to eliminate only one zero rather than the two zeros envisioned by Pantoja.

Shiba Inu Hints at Big News Coming Very Soon

Lele Jima
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Shiba Inu Hints at Big News Coming Very Soon

The Shiba Inu ecosystem team reveals that its liquid staking partner, K9 Finance DAO, will make a major announcement at this year’s ETHToronto conference. 

The team made the disclosure through its official X handle yesterday, suggesting that the upcoming ETHToronto conference would be an exciting event for the KNINE and SHIB communities. 

Big Reveal Coming 

While expressing excitement for supporting K9 Finance, the team behind the Shiba Inu ecosystem highlighted some significant milestones its liquid staking partner has achieved so far.

These include launching closed-beta testing for its liquid staking platform, bridging its native token KNINE to Shibarium, and becoming an official validator of the leading L2 scaling solution. 

Furthermore, the tweet encouraged attendees of the ETHToronto conference to ensure they visit the ecosystem teams of Shiba Inu and K9 Finance projects for more details about their big reveal.

ETHToronto Conference 

The ETHToronto conference is one of the events lined up to be held at the upcoming Blockchain Futuristic Conference (BFC) and Canada Crypto Week. These events, alongside the ETHWomen conference, will occur on August 13 – 14, 2024, in Toronto, Ontario’s capital province.

Interestingly, Shiba Inu is one of the title sponsors of the ETHToronto conference. Through this sponsorship, the conference organizers will give Shiba Inu a dedicated booth to showcase its projects and those belonging to its partners, including K9 Finance. 

Recall that Shiba Inu was also a title sponsor of the ETHToronto conference last year. During the event, the team behind the Shiba Inu ecosystem announced the mainnet launch of its L2 scaling solution, Shibarium.

Just a year after Shibarium’s debut, the L2 blockchain has achieved significant feats, including processing over 400 million transactions. Interestingly, Shiba Inu is planning to give its community members another memorable experience at the upcoming ETHToronto conference. This time, its liquid staking partner will make a huge announcement during the event. 

Meanwhile, the K9 team is expected to roll out the second phase of its liquid staking platform in Q3 2024. The platform, which will launch on Shibarium mainnet, will enable users to swap their staked BONE tokens for K9’s liquid asset, knBONE.  

Experts Confirm XRP Only Asset Not Making Lower Lows, Project Run Above $1

Sam Wisdom Raphael
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Experts Confirm XRP Only Asset Not Making Lower Lows, Project Run Above $1

Market experts point out XRP as the only crypto asset that has managed to avoid lower lows in the market downturn, projecting an imminent run above $1.

Recall that the broader cryptocurrency market witnessed its biggest intraday slump on Aug. 5. The market crash sent Bitcoin (BTC), the leading crypto asset, to a six-month low below $50,000. Ethereum (ETH), the second-largest asset, also collapsed to a six-month low around $2.1K.

XRP Avoids Lower Lows

Meanwhile, Solana (SOL) slumped to $110, its lowest price in five months. Notably, all the top cryptocurrencies dropped to lows not seen in months. However, despite XRP being one of the victims of the bloodbath, it displayed better resilience than others.

During the market collapse, XRP only dropped to $0.43120, finding support at the $0.43 price region. The cryptocurrency managed to defend itself against dropping to new monthly loss. For context, during the latest market crash, XRP did not even retest its bottom price of $0.43121, attained on July 10.

Discussing the market condition, pseudonymous Greek-based analyst Doctor Magic confirmed that XRP was the only asset to avoid making lower lows during the dump. According to the market analyst, this reality was a testament to XRP’s strength compared to the rest of the market.

XRP 4H Chart Doctor Magic
XRP 4H Chart | Doctor Magic

However, he noted that following the crash, XRP’s previous support around $0.51 to $0.58 has now transformed to resistance. The analyst emphasized that XRP would need to reclaim this price range to flip the momentum to bullish in the shorter timeframe. He confirmed that the longer timeframe remains bullish.

XRP Awaiting Wave 3 for a Push Toward $1

So far, XRP has reclaimed $0.51, awaiting greater buying pressure to recapture the rest of the $0.5 territory. Notable analyst CryptoInsightUK noted that XRP is currently in a consolidation or range-bound phase. However, he anticipates the start of a bullish wave 3 capable of breaking above this consolidation phase.

XRP 1H Chart CryptoInsightUK
XRP 1H Chart | CryptoInsightUK

The analyst’s target for this wave 3 is the $1 price, a level XRP has not attained since December 2021. Despite forecasting a push above $1, CryptoInsightUK makes room for a less optimistic push. However, his minimum target for the imminent wave 3 is $0.75. 

In response to community queries, the analyst stressed that this $1 target is merely for a shorter timeframe. He had previously predicted the ongoing dump, but the floor price was a bit lower than his target. Nonetheless, he believes the pattern will continue to play out as long as XRP does not hit lower lows. 

Currently, XRP changes hands at $0.5138, having increased 1.52% this morning. In a previous post, technical analyst Leb Crypto emphasized that XRP was already on track to reclaim $0.94. The asset would need to breach the resistance from last July to break into this price level.

Here Are XRP Needed To Make $1 Million if XRP Hits $25

Sam Wisdom Raphael
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Here Are XRP Needed To Make $1 Million if XRP Hits $25

Market participants would need to procure this much XRP if they plan to take in $1 million should XRP clinch a $25 price.

The crypto market has recently slipped into a bearish phase amid Bitcoin’s (BTC) price collapse. During the latest market crash, Bitcoin reached levels that were last seen in February. The altcoin market also took a hit, but XRP demonstrated greater resilience than the rest of the market.

Notably, despite Bitcoin reaching a new six-month low, XRP maintained a position above its July bottom. Nonetheless, the $0.4312 low marked a 34% collapse from the $0.6580 peak attained on July 31. Amid this drop, some market watchers identify an attractive buy opportunity.

This sentiment hinges on the confidence that XRP will eventually recover from the current level. Such recovery could come from an individual rally from XRP or from following in Bitcoin’s footsteps during an upsurge by the premier crypto asset.

The Crypto Basic recently spotlighted one such instance. It bears mentioning that VanEck, a leading asset management firm, recently predicted Bitcoin to hit $2.9 million in 2050. If XRP follows Bitcoin’s growth amid such a rally, XRP’s price could skyrocket to $25.7945 by 2050. This would mark a 5,125% increase within 26 years.

How Much You Need to be a Millionaire if XRP Hits $25

Given current market conditions, it remains to be seen if XRP can attain $25.7945 by 2050. However, should this materialize, some investors would seek to know how much is necessary to secure substantial profits, such as $1 million. 

Notably, to earn $1 million when XRP reaches $25.7945, an investor must hold 38,767 XRP. At press time, XRP changed hands for $0.5162. To procure the 38,767 XRP tokens, the investor must commit $20,012 at the current XRP price.

While the jump to $25 appears feasible, market trends can be tricky. For instance, investors holding XRP at $3 in January 2018 remained convinced that in the next few years, XRP would reach higher ground. Six years later, XRP has dropped 84% from the $3.31 all-time high.

The current reality has dealt a huge blow to investor sentiment. While some market speculators believe XRP would still fail to recover its ATH during the ongoing bull market, some analysts think this will not be the case. EGRAG, a skilled chartist, predicted last month that XRP could be on the verge of a rally to $27. 

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