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Ripple CTO Explains How He Bought 40,000 Ethereum with $12,400

Abdulkarim Abdulwahab
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Ripple CTO Explains How He Bought 40,000 Ethereum with $12,400

Ripple’s CTO, David Schwartz, revealed how he acquired 40,000 Ethereum tokens during the public initial coin offering (ICO).

The revelation came after a community member asked Schwartz on X to clarify his initial involvement with Ethereum before the public pre-ICO. The inquiry stemmed from Schwartz’s previous revelation that he sold 40K units of Ethereum assets for $1 per ETH to fund solar panels for a house he has since sold.

Notably, the disclosure was a contemplative look back at his premature disposal of the ETH assets, especially considering the value soared by 1,000% soon after he sold his holdings.

How Ripple CTO Bought 40K ETH During ICO

Regarding the inquiry, the Ripple CTO clarified that his participation in the Ethereum ICO was not just a business decision but a personal one. It came from his acquaintance with Vitalik Buterin, one of Ethereum’s founders.

Schwartz stated that Buterin, a close friend, invited him to participate in the ICO. And since he wanted to support Buterin, he sent 20 BTC.

 

Furthermore, Schwartz explained that he invested this amount without pressing for much detail, as he primarily viewed it as a means to support an acquaintance. Remarkably, for the 20 BTC he contributed to the ICO, the Ripple executive received 40,000 ETH in return.

ETH ICO

Notably, public records corroborate Schwartz’s account. The Ethereum ICO reportedly lasted 42 days between July and September 2014. Early investors could acquire 2,000 ETH for 1 BTC or $0.31.

However, as the ICO progressed, the exchange rate of ETH to BTC increased. By the end of the token sale, 1 BTC could purchase 1,337 ETH.

Notably, the Ethereum team announced the ICO at the North American Bitcoin Conference in Miami early in 2014. The fundraising approach employed by the Ethereum team was considered innovative at the time.

Ripple CTO Missed out on $4M Fortune

Having bought 40,000 ETH tokens for approximately $12,400, Ripple’s CTO liquidated the portfolio when the value rose to $40,000. This sale resulted in a 222.58% return on investment after a two-year holding period.

However, had Schwartz held onto his investment for an additional year, he could have seen an astonishing gain of 32,158%. The growth would have elevated the initial $12,400 ETH portfolio to $4,000,000. 

Ethereum Price Forecast: Can ETH Reach $4,000 in May 2024?

Mark Brennan
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Ethereum Price Forecast: Can ETH Reach $4,000 in May 2024?

Ethereum price hangs precariously above the $2,900 territory on May 10, on course to close the week with 9.8% losses, on-chain metrics reveal the key catalysts behind ETH’s underwhelming performance. 

Ethereum Price Underperforming Altcoin Market Average

The global altcoin market made a positive start to May 2024, as investors piled on capital inflows in excess of $150 billion within the first week. However, since May 7, the market rally has tapered off, with bears clawing back majority of the gains recorded in the first week of May.

Notably, the bearish pressure currently surrounding Ethereum seems to be more intense than the broader market average.

Ethereum ETH Price action vs TOTAL2 Altcoin Market Cap
Ethereum ETH Price action vs. TOTAL2 Altcoin Market Cap

TradingView’s TOTAL2 metric tracks the movements in the total market cap of all listed crypto assets, excluding Bitcoin. This provides insights into the real-time performance of the global altcoin market.

The TOTAL2 chart above shows that the global altcoin market shrank by $73.3 billion over the past week between May 6 and May 11, which accounts for a 6.9% decline. Interestingly, in comparison, Ethereum’s price declined by 9.8% during that same timeframe.

Effectively, this means that the ETH price is performing below the market average. This underwhelming performance could be attributed to negative sentiment and multiple delays surrounding Ethereum ETF approval prospects in the US.

In early May, regulators in Hong Kong approved spot ETH ETFs for trading, raising hopes that it could set precedence for the US SEC to take on a softened stance and accelerate the approval process. But with significantly lower volumes in Hong Kong compared to the US market, it has failed to move the needle.

However, news emerged this week that Grayscale, the largest Digital Assets Manager in the US had withdrawn its Ethereum ETF application, further casting a dark cloud on the prospects of an approval in 2024.

Speculative Traders are Going Bearish on ETH

Looking away from the poignant Ethereum news headlines circulating in the media this week, on-chain data shows investors’ negative reaction to this development may have catalyzed the ongoing ETH price downtrend.

IntoTheBlock’s Open Interest ratio measures the value of capital invested in ETH derivatives contracts against the spot market capitalization. Increasing the open interest ratio signals bullish sentiment, and vice versa.

Ethereum price vs ETH Open Interest ratio 
Ethereum price vs ETH Open Interest ratio

The chart above shows how the ETH open interest ratio has been in decline since mid-April. Historical data shows that the ETH price has often failed to stay above $3,000 when the open interest ratio falls below 0.2%. The last time the ETH open interest ratio reached that threshold was April 14.

The latest data, at the time of writing, shows Ethereum’s open interest ratio trending at 0.18% on May 10. This suggests that with the ETH ETF decision still hanging in the balance, speculative traders are pessimistic about Ethereum short-term price prospects, hence there are unwilling to invest in new futures contract positions.

 

ETH Price Forecast: Bulls Counting on $2,850 Support Cluster

Ethereum price is trading at $2,910 at the time of writing on May 10, down 9.8% for the week. However, the persistent decline in ETH open interest relative to spot market activity dampens prospects of Ethereum price breaking above $3,100 in the near term.

After a 9.8% decline over the past week, IntoTheBlock’s GIOM data shows ETH bulls could now count on the looming buy-wall at $2,850 for short-term support.

Ethereum ETH Price Forecast | IntoTheBlock
Ethereum ETH Price Forecast | IntoTheBlock

As seen above, 1.32 million active addresses had bought 1.08 million ETH at an average price of $2,860. If ETH fails to stay above the $2,900 level, bulls could start making rapid covering purchases to prevent a breakdown below $2,850, possibly triggering an instant rebound phase.

But on the contrary, the looming sell-wall at $3,100 could slow down any short-term rebound breakout.

In summary, Ethereum open interest ratio in decline is likely to slow down Ethereum price movements in either direction. Hence, ETH price action during the weekend will likely be subdued within the $2,800 to $3,100 narrow channel.

XRP Price Forecast; $0.55 Rebound Looms as Network Transactions Surge by 120,000

Mark Brennan
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XRP Price Forecast; $0.55 Rebound Looms as Network Transactions Surge by 120,000

XRP price slid below $0.50 on May 11, down 5% within the 24-hour timeframe, but spikes in network usage suggest the next rebound phase could be imminent. 

XRP price slides 12% as Altcoin Markets Fold

XRP made a remarkable start to May 2024 that saw it race to a 15% rally between May 1 and May 7. But since then, XRP price action has been subject to intense volatility, mirroring the broader altcoin market trend.

XRP price action vs TOTAL 2 Global Altcoin Market Cap
XRP price action vs TOTAL 2 Global Altcoin Market Cap

At the time of writing on May 11, the XRP price is hanging precariously above the $0.50 milestone support level. Zooming out, it reflects a 12% decline from the weekly top of $0.57 recorded on Monday.

In comparison, to the broader altcoin markets, which has only declined by 7% during that period, XRP price has performed worse that the market average. This underwhelming performance can be attributed to recent developments surrounding Ripple’s long-running lawsuit with the SEC.

Earlier this week, SEC reaffirmed its recommendation of a hefty $2 billion fine on Ripple, after the firm had appealed to the US District Judge Annalisa Torres for much more lenient $10 million penalty.

XRP Network Transactions Surged 120,000 this Week

Analysts anticipate that the SEC’s $2 billion recommendation will be upheld by the Judge. Likely, investors’ negative reaction to this development has contributed significantly to the 12% dip that saw XPR prices tumble below $0.50 on May 11.

Recall that XRP had initially beaten the market average to a 15% rally in the first week of May. On the bright side, on-chain data trends show that fundamental bullish catalysts that drove XRP price action in early May are still in play despite bearish headwinds generated by the SEC’s $2 billion slammer.

A key indicator of this is Santiment’s Network Transactions chart below, which captures the daily count of all transactions executed on the XRP Ledger blockchain.

XRP Price vs. Daily Transactions Count 
XRP Price vs. Daily Transactions Count

The chart below shows that at the onset of the price dip on May 7, XRP recorded 224,250 transactions. But since then, network activity has been on the rise. The latest data shows that the XRP Ledger network recorded 352,910 unique transactions on May 10, reflecting an increase of 128,660 transactions during the week.

Historically, a large surge in a blockchain network’s daily transactions has often been bullish for the underlying native coin price for two major reasons.

A significant increase in daily transactions indicates the growing adoption and usage of the blockchain network. This suggests that more users and entities are actively engaging with the network, utilizing its features and services.

Such increased activity typically reflects confidence in the network’s capabilities and may attract more investors and users, ultimately driving up demand.

XRP Price Forecast: Imminent Rebound to $0.55?

XRP price is exchanging hands for $0.50 a piece at the time of publication on May 11. However, the surge of 130,000 transactions puts the XRP price in a prime position for an early rebound toward $0.55 in the days ahead.

 

XRPUSD 2024 05 11 11 20 05
XRP Price Forecast

 

Looking at the basis of the Bollinger band technical indicator, the XRP price recovery prospect now faces major resistance at the $0.52 level. If the bulls can scale that 20-day SMA sell-wall, a prompt rebound above $0.55 could be on the cards as predicted.

On the contrary, the bears must force a downswing below $0.45 to seize control of the XRP short-term market momentum. However, as depicted by the lower-limit Bollinger band indicators, the support buy-wall at the $0.49 territory could prove daunting.

Top Analyst Says Shiba Inu to Do 30X, Never Going to Zero 

Abdulkarim Abdulwahab
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Top Analyst Says Shiba Inu to Do 30X, Never Going to Zero 

Widely followed analyst Davie Satoshi has argued that Shiba Inu is a prime candidate among crypto assets capable of rallying by 3,000% in this bull season. 

Davie voiced this sentiment in a recent post on X while expressing his view on meme coins that will linger in the crypto scene and never fail. In particular, the analyst boldly asserted that Shiba Inu is one of the meme-based crypto assets he believes could achieve 10 to 30 times returns without ever dropping to zero.

Why Shiba Inu May Not Go to Zero

The market pundit did not detail the reasons for his confidence in SHIB’s potential 30-fold increase and its resilience against dropping to zero. Nonetheless, this optimism is not unfounded, considering historical data. 

As reported by The Crypto Basic, Shiba Inu’s performance post-Bitcoin’s last halving was nothing short of remarkable, with gains surpassing 800,000%. The returns are even more astonishing when traced from SHIB’s all-time low.

Furthermore, the meme-inspired Shiba Inu project is nearing its four-year birthday, and it continues to wield significant influence in the crypto scene. Shiba Inu survived the onslaught of the crypto market bears through 2022 and 2023. In particular, it consistently maintained a position among the top 20 most valuable cryptos. 

Meanwhile, other meme coins that rocked the crypto market during the last run have either rug pulled or been relegated to a far-back seat. Interestingly, some meme coins launched in this early bull market phase have already been rug-pulled.

Essentially, Shiba Inu has proved its enduring capacity over the years. Furthermore, the Shiba Inu development team has been actively rolling out meaningful updates. They continue to form strategic partnerships that not only benefit SHIB but also have the potential to positively impact the broader tech sector.

Shiba Inu Doing 30X

Currently priced at $0.00002251, Davie’s prediction of SHIB experiencing a surge of 1,000% to 3,000% suggests he anticipates the Shiba Inu token could reach between $0.0002251 and $0.0006753 within the next year. 

These price levels would represent new highs for Shiba Inu, surpassing its 2021 peak of $0.00008845. Moreover, Davie is not alone in his bullish outlook. Other analysts have also projected similar targets for Shiba Inu in the current bull market.

Other Meme Coins Projected for 30X Gains 

Notably, other meme coins featured on Davie’s list include the most valuable, Dogecoin (DOGE), and close contenders like PEPE and Dogwifhat (WIF). Meanwhile, Davie sees 30X potential in the newer contender in the meme coin landscape, Coq Inu (COQ).

Here are Two Crucial Dates for Shiba Inu (SHIB)

Lele Jima
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Here are Two Crucial Dates for Shiba Inu (SHIB)

In the wake of the recent market downturn, we’ve outlined how May 11 and 12 could significantly impact Shiba Inu’s short and medium-term price movements.    

The recent market downturn has put various crypto assets, like Shiba Inu (SHIB), in hot waters. Shiba Inu has recorded massive losses in the past few days, plunging 8.45% in the weekly charts.

SHIBUSDT 2024 05 11 10 31 18
SHIBUSDT 2024 05 11 10 31 18

Importance of May 11 and 12 to Shiba Inu 

Amid the ongoing downturn across the broader market, Shiba Inu faces two crucial dates – May 11 and 12 – which could potentially determine the asset’s short-term trajectory.  

May 11 and 12 are imperative for SHIB because they represent the days when the asset is expected to test a significant resistance around the 50-day EMA (Exponential Moving Average). 

In the meantime, Shiba Inu is signaling an imminent price spike after it found support at the 100 EMA indicator. Historically, the 100 EMA indicator has served as a robust base for price rebounds, with recent trends suggesting that SHIB is primed for such a resurgence. 

With Shiba Inu recently finding support around the 100 EMA indicator, there is a likelihood that the canine-themed token will attempt to breach the resistance at 50 EMA in the coming days, particularly on May 11 and 12. 

It bears mentioning that the 50 EMA indicator marks the most significant resistance level currently facing SHIB. Breaching this resistance could pave the way for a bullish rally for SHIB and vice versa. 

Massive Volatility Ahead 

Meanwhile, Shiba Inu has been experiencing narrowing price bands, which usually occur before a period of heightened volatility. This narrowing suggests that Shiba Inu’s price is consolidating, gathering momentum before a substantial move occurs.

As the price compression intensifies, it establishes a buildup of potential energy, thus increasing the chances of a spike in volatility. Interestingly, movements characterized by increased volatility, as anticipated due to the narrowing price bands, usually act as potential triggers for breaching resistance, such as the one around the 50 EMA indicator. 

Therefore, May 11 and 12 could determine Shiba Inu’s price movements both in the short and medium term. 

Experts Project XRP Potential Surge to $3 and $20 

Lele Jima
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Experts Project XRP Potential Surge to $3 and $20 

Two renowned crypto investors have issued positive predictions regarding XRP’s potential spike to $3 and $20, respectively.

XRP has continued to feel the impact of the ongoing market onslaught, as its price crashes below $0.50 on multiple occasions in 24 hours.

Experts Optimistic About XRP Despite Recent Price Slump

Despite rebounding above the $0.50 price level, XRP has witnessed a 2.5% decline over the past 24 hours and a 4.72% dip in the weekly charts. At the current exchange rate of $0.5057, XRP’s price has dipped by 18.1% year-to-date (YTD).

Nevertheless, prominent crypto enthusiasts still believe XRP could embark on a major rally in this 2024/2025 bull season. They expect XRP’s price to range between $3 and $20 this season.

XRP to $3 

In particular, early Bitcoin investor Kyle Chassé speculated that XRP would attain a peak price of $3 in the bull run. The investor made this known while predicting the peak prices of popular crypto assets.

With XRP currently trading at $0.5057, the asset would need to rally by 493.23% to reach the $3 target. It bears mentioning that the $3 prediction is below the all-time high of $3.84 XRP recorded in January 2018.

Meanwhile, Chassé did not didn’t provide any concrete basis for his bullish XRP prediction.

XRP to $20

Additionally, a popular crypto analyst who uses the X handle @KingCryptoAryan issued an audacious prediction for XRP, speculating that the asset’s price could soar to $20 this bull season.

Aryan’s $20 prediction requires XRP to soar 3,854% from its current price. Like Chassé, Aryan did not outline any bullish factor he relied on before issuing the prediction.

The $3 and $20 Price Predictions

It is worth mentioning that prominent investors and analysts have filed the XRP community with forecasts regarding the asset’s potential spike to $3 and $20, respectively.

Last month, popular crypto investor Ash projected that XRP could surge to $3 between April 2025 and July 2025. This period is expected to be the peak of the coming bull season. Additionally, other proponents like EGRAG predicted that XRP could revisit its all-time high around the $3 price level this season.

Besides Aryan, other notable crypto experts have also issued a similar forecast regarding XRP’s potential rally to $20. As reported earlier, Armando Pantoja, a member of the Bezinga crypto advisory council, issued a similar stance this month.

In his analysis, Pantoja projected that XRP would reach a “true value range” of $8 – $20 by 2026. The factors backing Pantoja’s prediction include XRP’s legal clary, historical precedent, institutional adoption, market trends, and utility explosion.

Pantoja issued a similar prediction last month, emphasizing that XRP will soar between $10 and $20. However, he did not provide a timeline he expects the prediction to materialize.

Analysts Predict Cardano Price to Spike Toward $7.8 to $10

Sam Wisdom Raphael
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Analysts Predict Cardano Price to Spike Toward $7.8 to $10

Some analysts see Cardano skyrocketing to a range of $7.8 to $10, citing historical data from ADA’s performance in past cycles.

Crypto market veteran Javon Marks is one such analyst, recently calling attention to Cardano’s latest price movements. Marks’ analysis was an update to an earlier report on ADA, in which he set an initial target of $2.7, expecting a reclamation of the highs last witnessed in the previous bull run.

Cardano Targets $7.8

Following the initial analysis, Cardano rose 222% on the back of the broader market rally observed earlier this year. However, ADA’s push toward hitting the initial $2.7 target faced a roadblock when it saw resistance at the $0.81 level in mid March. Following the resistance, Cardano witnessed a massive correction.

At its current price of $0.45, ADA is now down 44% from the high of $0.81. But, Javon Marks believes this ongoing retracement could be bullish for Cardano, touting it as a precursor for a more substantial upsurge. According to him, if Cardano upholds its previous breakout recorded last year, the imminent upsurge will eventually materialize.

He confirmed that ADA would need to rise by another 462% to first clinch the $2.7 price target. Interestingly, Marks expects Cardano to reach a price much higher than the $2.7 value, citing data from its performance in the 2021 bull run.

Notably, from 2020 to 2021, Cardano witnessed a similar trend, recording a pullback after securing a breakout from a multi-year descending trendline. Following this pullback, ADA spiked to several price levels, including $0.81, $1.60 and $2.39, before eventually soaring to the all-time high of $3.1 in August 2021.

Marks sees this pattern playing out this time around. The analyst has also set up three major price targets for Cardano in this cycle, with the $2.77 zone being the first one. The second target sits at $5.29, while the ultimate level rests on the $7.82 price. He confirmed that this ultimate target would mark a 1,500% rise from Cardano’s current price.

Chang Upgrade Could Catalyze a Run to $10

Despite the ambitious nature of this target, others see it as an underestimate. For instance, market analyst Lucid believes ADA has the potential to reach $10, noting that this price would materialize following the upcoming Cardano Chang update, named in honor of Phil Inje Chang, former Product Manager for Voltaire at IOHK who died two years ago.

The Chang update marks a crucial moment in Cardano’s Voltaire phase, primarily enhancing its governance model. The upgrade, executed through a hard fork, will integrate on-chain governance features, allowing decentralized voting and treasury management.

In tandem with the governance improvements, the Plutus V3 Upgrade will be implemented to boost smart contract capabilities. Remarkably, this development would pave the way for new privacy features and cross-chain collaborations.

Due to the pivotal nature of this upgrade, expected to occur in this quarter of the year, analysts such as Lucid believe it could trigger a Cardano price surge. Lucid’s $10 target marks a 2,122% increase from Cardano’s current price, which currently sits at $0.45. ADA is already down 2.17% today.

Here Are Top Predictions for XRP to Hit $200, $400 and $1000

Abdulkarim Abdulwahab
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0
Here Are Top Predictions for XRP to Hit $200, $400 and $1000

While XRP trades at $0.5, some prominent figures in the crypto scene have argued the asset could attain lofty highs like $200, $400, and $1,000 someday.

XRP momentarily dipped to the $0.4 mark in the past day before climbing back to the $0.5 level. Despite this recovery, XRP maintains a 5% decline in its weekly trading price. Meanwhile, XRP’s market loss is a more significant 19% over the past month.

On an annual scale, XRP’s growth is a modest 17% gain. This percentage growth contrasts the numbers observable from its peers like Solana (SOL). In particular, SOL has seen a staggering 600% increase over the same timeframe. 

Additionally, it’s been six years since XRP established an all-time high and three years since it last traded above $1. Essentially, XRP has not been an impressive performer in the crypto scene in recent times. 

XRP CoinMarketCap
XRP price performance | CoinMarketCap

However, the lackluster performances have not suppressed the optimism of market pundits who are convinced that XRP has the potential to become a triple—or four-digit asset sometime in the future.

With this in mind, we analyze the top predictions for XRP hitting price points of $200, $400, and $1,000.

Top Predictions for XRP to Hit $200

Javon Marks is one of the latest market watchers to propose the $200 price point for XRP. In an update earlier this month, Marks highlighted that XRP is nearing the end of a significant symmetrical triangle pattern. Marks described the observed pattern as XRP’s “largest coil pattern.”

Historical data shows a similar formation between 2014 and 2017, after which XRP surged from $0.0056 to $3.84. The analyst pointed out that XRP is currently in a six-year consolidation phase, with increased trading volumes and bullish divergences hinting at a buildup of positive momentum. 

Based on this observation, Marks predicted an ambitious breakout to propel XRP by over 37,000% to $200. According to him, this projected explosive move is already gathering momentum.

Notably, Marks has argued that XRP has the potential to attain $200 more than once. Other analysts like Block Bull have voiced similar sentiments, projecting a $246 price point for XRP.

Predictions for XRP to Hit $400 

Last year, renowned analyst EGRAG argued a potential 75,300% surge in XRP’s price to $400. Similarly, his bold forecast is grounded on historical patterns and a key indicator called “the Bull Market Line.” 

Previously, XRP’s breach of the first Bull Market Line at $0.02 preceded a rally to $3.84 in early 2018. EGRAG identified a second Bull Market Line at $1.2, suggesting that crossing this threshold could trigger rallies to $40 and then $400. However, XRP has not come close to this crucial $1.2 target since 2021.

Citi banker Shannon Thorp once supported this view, although she based her projection of $100 to $500 for XRP on Ripple’s efforts in the cross-border payment market.

Audacious Forecasts of XRP Hitting $1,000

Analysts BarriC and JackTheRippler are some of the most ambitious individuals in the XRP community. They argue that XRP has the potential to rally 189,200% to hit $1,000. 

BarriC cited historical growth in cryptocurrencies, such as Bitcoin’s rise from $330 to $73,750, as evidence of the crypto assets’ potential for exponential growth. He argues that with increasing adoption and over $400 trillion in personal wealth potentially entering the market, XRP could hit $1,000 in 10 years. 

On the other hand, JackTheRippler contended that with over $1.2 quadrillion in assets available for tokenization, XRP’s blockchain capturing a small fraction of this sum could easily justify a $1,000 XRP price.

XRP to $59,873: Expert Highlights 4 Major Events

Sam Wisdom Raphael
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0
XRP to $59,873: Expert Highlights 4 Major Events

An XRP community commentator calls attention to four pivotal events he believes are capable of taking XRP to an audacious $59,873 price.

With claims of XRP being largely undervalued, market watchers and industry pundits have continued to project lofty price targets for when a major price upsurge occurs. However, none has been as audacious as recent projections made by King XRP, an analyst and XRP community member.

In a post on X, the pseudonymous analyst outlined four upcoming events considered significant within the XRP ecosystem and to Ripple, the largest holder of XRP. According to the projections, each of these four events could push XRP to greater heights as they materialize.

Ripple v. SEC Settlement Announcement

The first event is the announcement of a settlement between Ripple and the U.S. SEC in the ongoing legal battle. It bears mentioning that the age-long lawsuit has moved to the remedies phase, with both parties contending on the penalty to be imposed on Ripple for its violations of securities laws in past XRP sales to institutions.

While the SEC demands nearly $2 billion, with $876 million in civil penalty, Ripple argues that its civil penalty should not be anything more than $10 million. With both parties having filed their necessary documents, the public now awaits the final verdict. Nonetheless, industry pundits believe a settlement could be on the horizon.

Rumors of a settlement prevailed last month, but Ripple’s CLO Stuart Alderoty dismissed them. However, this has not stopped the constant proliferation. XRP King believes XRP could soar to $18.57 if an announcement of a settlement comes up, marking a 3,577% increase from the current price od $0.5049.

Bank Partnership and Integration of XRP

In its earlier days, XRP was often touted as “the banker’s coin” due to its utility as a bridge currency for cross-border banking transactions. Additionally, Ripple’s partnerships with remittance institutions and leading financial giants further increased this sentiment. 

However, following the charges the SEC mounted on Ripple in December 2020, multiple regulated financial institutions have decided to steer clear of XRP for fear of handling an asset deemed an unregistered security. 

Judge Analisa Torres ruled last July that XRP itself is not a security, but there has not been any noticeable change among these institutions in their treatment of XRP. The only observable change was the relisting of XRP on prominent U.S.-based crypto exchanges upon the ruling.

Nonetheless, some proponents believe these institutions are awaiting the ultimate end of the lawsuit between Ripple and the SEC before handling XRP. Should such integrations occur, Mr. King expects XRP to soar by another 1,285% rate from the $18.57 price to $257.21.

Ripple IPO

The XRP community eagerly awaits an Initial Public Offering (IPO) from Ripple, a move that would make the company a publicly traded one. Discussions surrounding an IPO have intensified in recent times, but Ripple CEO Brad Garlinghouse has confirmed that it might not happen soon.

Prominent XRP community figures such as Eri have also stressed that the Ripple IPO could be delayed. Despite the expected delay, prevailing trends suggest the IPO would indeed happen. Some commentators have projected that the event could further bolster XRP’s price by a fair margin.

To XRP King, the IPO would serve as the springboard for a more substantial XRP rally. He sees XRP skyrocketing from the projected $257.21 price to a three-digit figure of $3,748. This would mark an additional 1,357% increase in the price of XRP.

Global CBDC Integration of XRP

XRP’s appeal in the cross-border payments sector has caught the attention of several leading financial institutions. As a result, it has been positioned as a cryptocurrency that could also help facilitate a more streamlined CBDC experience, especially for transactions involving multiple CBDCs from different countries.

In addition, Ripple has continued to seal partnerships with several regions for their CBDC projects, including Hong Kong, Palau, Montenegro and Bhutan. Notably, Palau’s CBDC project has already entered the phase 2 of the pilot stage, leveraging the XRPL technology. 

Due to these developments, industry pundits project a situation where XRP serves as a bridge currency for settlements involving CBDCs. Multiple individuals recommended XRP to the U.S. Federal Reserve for CBDC settlement. Mr King sees XRP surging from $3,748 to $59,873 should it integrates with CBDCs.

While these four events are capable of impacting XRP’s price action positively, it is important to note that these targets set by Mr. King are most likely unfeasible. However, the crypto market can be rather unpredictable. As a result, investors should not consider these price targets as investment advice.

Shiba Inu Lead Developer Sends a New Cryptic Message to Community Via This Partner 

Lele Jima
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Shiba Inu Lead Developer Sends a New Cryptic Message to Community Via This Partner 

Shiba Inu’s lead developer Shytoshi Kusama has conveyed a new cryptic message to the community through its official AI partner Bad Idea (BAD). 

Kusama dropped the cryptic post on Bad Idea’s official Telegram group in commemoration of the project’s first anniversary. 

Kusama’s Latest Exchange with Bad Idea Community

While Kusama was active in the group, Bad Idea community members used the opportunity to make certain requests and inquiries. 

Notably, a comment from a Bad Idea community member named Eshan attracted Kusama’s attention. According to Eshan, the community hopes to see him play a more supportive role in the Bad Idea project. 

Kusama responded to this request with a cryptic message, which reads: 

“The sun is bright. You can feel the rays on your skin. The moon is subtle but brightens the night.” 

Interestingly, the official Bad Idea X handle shared Kusama’s comment on the social media platform. The handle also gave a big shout-out to Kusama for “dropping into” its official Telegram group to commemorate its one-year anniversary. Bad Idea mentioned that it carries the SHIB flag. 

Bad Community Reacts 

In the meantime, Kusama’s comment has elicited some bullish reactions in the group. Overall, his comment has received 29 bullish emojis, including fire, heart, and thumbs up.  

As expected, both Bad Idea and Shiba Inu community members have been attempting to decode the true meaning of Kusama’s cryptic message. 

Interestingly, Eshan deciphered the message to suggest that fathers illuminate the path to their children’s future by offering early support. In turn, the children reciprocate by assisting when they reach old age. 

Bad Idea 1
Bad Idea 1

Some users wished Kusama provided more clarity about his future plans for Bad Idea, including upcoming exchange listings among others. Nonetheless, others suggest that his surprise visit to the Bad Idea Telegram group shows the project is part of the plan. 

Bad Idea 2
Bad Idea 2

Bad Idea Commemorate First Anniversary 

Meanwhile, Bad Idea is still celebrating its first anniversary, which started on May 5. The AI-focused project provided insight into some of the milestones it achieved in the first year, which includes positioning itself as an innovative leader in the crypto sector. 

Bad Idea introduced various initiatives to commemorate its one-year anniversary, including launching a buyback program and publishing a new series of columns from community members, reflecting on the project’s impact over the past year. 

For context, Bad Idea became Shiba Inu’s official AI partner last year. Both projects have benefited immensely from the partnership. In particular, Shiba Inu’s Shibarium projects gained free listings in the training model of Bad Idea’s AI chatbot. 

Notably, Bad Idea’s affiliation with Shiba Inu saw the project’s token listed on multiple crypto exchanges, including Poloniex. Bad Idea currently has a customized Tangem wallet, thanks to its affiliation with Shiba Inu. 

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