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How To Make $10M, $15M, or $20M with Shiba Inu if SHIB Hits $0.003 or $0.009

Abdulkarim Abdulwahab
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How To Make $10M, $15M, or $20M with Shiba Inu if SHIB Hits $0.003 or $0.009

This article examines the Shiba Inu tokens investors must hold to attain a portfolio of $10 million, $15 million, or $20 million should SHIB clinch $0.003 or $0.009.

The crypto community is experiencing a bull market, and meme-inspired crypto projects like Shiba Inu are currently some of the best performers. Considering that Shiba Inu made many millionaires in the last bull run, with a handful of billionaires, expectations are high that a similar occurrence could resurface.

To this end, Shiba Inu enthusiasts with a millionaire target may be interested in knowing how they may achieve their millionaire status should SHIB hit some of the notable projected figures like $0.003 or $$0.009.

How To Make $10M if Shiba Inu Hits $0.003

At the time of reporting, Shiba Inu trades for $0.00003001, marking a 9.94% increase over the past week. The price target of $0.003 implies the asset potentially canceling two decimal points with a 100x surge.

Accordingly, to command a portfolio of $10 million in Shiba Inu after the asset eventually hits $0.003, an investor must hold 3,333,333,333 SHIB tokens. At Shiba Inu’s market price of $0.00003001, this 3.33 billion SHIB token would demand an initial capital of $100,033.

In essence, making $10 million from Shiba Inu with a projected target of $0.003 requires stocking over 3 billion units of the token.

Making $15M or $20M with Shiba Inu $0.003 Target

To realize the $15 million target, one would need to hold five billion SHIB tokens if SHIB reaches $0.003 to potentially realize the intended lump sum. Acquiring these 5 billion SHIB tokens costs approximately $150,000 today.

The $20 million target requires double the initial investment for the $10 million goal as estimated previously, coming in at 6.6 billion SHIB. These 6.6 billion tokens are currently worth $200K.

So an investor needs to hold 3.33 billion, 5 Billion, or 6.6 billion Shib to make $10M, $15M, or $20M, respectively, from Shiba Inu at the current SHIB price.

Making $10M, $15M, or $20M with Shiba Inu at $0.009

For the most ambitious price target of $0.009, investors hoping to make $10 million, $15 million, or $20 million from Shiba Inu require less initial capital commitment.

In the $10 million outlook, investors would need to hold 1,111,111,111 (1.1B) SHIB tokens, translating to an initial investment of approximately $33,344 today.

Likewise, targeting $15 million would require accumulating approximately 1.66 billion SHIB tokens, currently costing around $50,000.

Similarly, the $20 million target demands investors to hold 2.2 billion SHIB at $0.009, with these tokens going for $66,688 today.

Projected Timelines for SHIB to Hit $0.003 and $0.009

Considering the current valuation, the Shiba Inu price outlooks of $0.003 and $0.009 would require significant market shifts. Specifically, SHIB must rally 9,890% and 29,890% to attain $0.003 and $0.009, respectively.

While Shiba Inu experienced a more remarkable percentage growth within a year in 2021, the likelihood of a similar occurrence in the near future appears less certain.

For instance, Changelly’s researchers argued that Shiba Inu may reach $0.003 and $0.009 levels sometime around 2040. The Analytics platform Telegaon aligns with this timeline, forecasting that Shiba Inu will approach these prices between 2035 and 2040. 

Top 7 New Tokens Likely To Explode in This Bull Market

Abdulkarim Abdulwahab
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Top 7 New Tokens Likely To Explode in This Bull Market

This article examines seven newcomers in the crypto trading landscape with the potential for explosive rallies this bull season.

During the just-concluded opening quarter of 2024, numerous crypto tokens debuted. Many of them have already demonstrated the potential to spark significant rallies in a full-fledged bull market. The Crypto Basic explores select new market entrants that have made notable strides in this initial phase of this bull run.

Jupiter (JUP)

Jupiter (JUP) is a decentralized exchange built on the Solana blockchain. On January 31, it launched and distributed $700 million worth of its platform token, JUP, marking what many consider one of the most substantial token airdrops witnessed within the crypto community.

Over the past 30 days, JUP has surged 164%. Considering its affiliation with Solana, the asset could be primed for more substantial gains in the much-awaited altcoin season.

Notably, JUP has garnered listings from prominent centralized trading platforms, including Binance, Gate.io, OKX, Bybit, KuCoin, and Kraken. 

BOOK OF MEME (BOME)

BOOK OF MEME (BOME) stands out prominently among the myriad of Solana-based meme coins launched this month. As a meme coin on Solana, it has ridden the wave of excitement surrounding tokens on this blockchain. 

In particular, BOME has experienced a surge of over 1,488% in the past two weeks. Accordingly, BOME is now the seventh most valuable meme coin, standing right behind established meme coins BONK and Floki. 

Notably, the token has been listed on Binance and other prominent exchanges. Coupled with its association with Solana, BOME may be positioned for even more remarkable gains, akin to its predecessors, when the frenzy of meme and altcoin seasons intensifies. At press time, BOME trades at $0.01447. 

Dymension (DYM)

Crypto project Dymension launched its native token DYM for trading just last month. The project introduces a modular blockchain framework simplifying the development and implementation of RollApps — application-specific Layer 2 rollups.

DYM has since peaked at $8.66 from a bottom of $2, representing a 333% gain within two weeks of its unveiling. Meanwhile, at press time, DYM trades at $6.08 with a 4.12% gain in over 30 days.

ether.fi (ETHFI)

On March 16, the ether.fi Foundation announced the launch of the ETHFI token, heralding it as a pivotal stride in the decentralization of the ether.fi system. Notably, ether.fi prides itself on being Ethereum’s inaugural noncustodial, delegated staking protocol. It positions itself as the foremost leader in liquid re-staking tokens.

Within two weeks of its launch, ETHFI has surged by over 100%, reaching an all-time high of $8.57. This remarkable growth coincides with its widespread adoption across the Ethereum ecosystem and its listings on major exchanges such as Binance, OKX, Bybit, and KuCoin.

Aevo (AEVO)

The AEVO token of the Aevo decentralized derivatives exchange launched on March 13  following a series of ICOs.

Aevo distinguishes itself as a DEX primarily focused on perpetual, options, and pre-launch trading. It utilizes a custom Ethereum rollup, which empowers it to process over 5,000 transactions per second and handle trading volumes surpassing $30 billion.

The AEVO token has increased by over 24% in the last seven days, reaching a price of $3.05. While it attained an all-time high of $4.46 on the day of its debut, AEVO is currently 31.69% below its ATH.

K9 Finance (KNINE)

Shiba Inu partner K9 Finance introduced its platform token KNINE on March 7, injecting $100K liquidity into the token to ensure its availability for trading on the Uniswap decentralized exchange.

Notably, K9 Finance brings a liquid staking solution to Shiba Inu’s blockchain, Shibarium, to enhance the DeFi ecosystem. 

As The Crypto Basic recently disclosed, KNINE registered a 700% gain within a week of launching. Pundits have projected a fifty-fold increase for KNINE in this bull run amid its affiliation with Shiba Inu.

Pyth Network (PYTH)

The Pyth Network’s token PYTH debuted in late 2023 and has since been a notable performer, garnering a market cap exceeding $1.41 billion.

The Pyth Network project boasts its status as the premier and most rapidly expanding first-party oracle network. It offers real-time data to decentralized applications (dApps) across over 40 blockchains. 

Moreover, the project incorporates contributions from prominent exchanges, financial services providers, and market makers, who provide their price data for utilization by smart contracts.  Key participants within the network encompass Binance, Bybit, OKX, and Cboe Global Markets.

The network’s native token, PYTH, trades at $0.9415, marking a 40% gain over the past month. At its current price, the asset is 20% below the $1.15 ATH it set 14 days ago.

Investor Curiosity Piqued: Raffle Coin Draws Polkadot And USDC Crowds; AI Altcoin Wins Whale Favor

Esra Zuhal
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Investor Curiosity Piqued: Raffle Coin Draws Polkadot And USDC Crowds; AI Altcoin Wins Whale Favor

Raffle Coin (RAFF) is shaking up the decentralized gaming sector, luring in the Polkadot and USDC communities, while the emerging crypto, InQubeta (QUBE), with its focus on AI, is becoming a darling among crypto whales. Let’s dive into why these platforms are making waves and why they should be on your investment radar for 2024.

Investor Curiosity Piqued: Raffle Coin Draws Polkadot and USDC Crowds

The decentralized gaming scene is gearing up for a significant shift, and Raffle Coin (RAFF) is at the forefront of this movement. This forward-thinking project introduces a unique platform set to transform the traditional raffle experience using blockchain technology. With Raffle Coin, users can enjoy secure and transparent raffles, lotteries, and giveaways like never before.

Many Polkadot (DOT) and USDC holders have been drawn to the platform’s innovative offering and the perks offered by its presale. Those who purchase tokens during this stage automatically qualify for a chance to win $100,000. Holders also have governance rights and enjoy revenue sharing.

For those looking to dive into Raffle Coin early on, the presale presents an attractive opportunity. Priced at $0.016 per RAFF token, early investors could stand to gain from the project’s anticipated growth throughout 2024. It’s a chance to be part of something groundbreaking in the world of decentralized gaming without the pressure of sales tactics.

RAFF has a total supply of 777,777,777 tokens, and 60% of these are allocated to the presale. 12% are to be listed on exchanges, while 10% will be used as staking rewards. The rest are for marketing and other purposes that will benefit the project. This means there are plenty of tokens to go around for the presale.

AI Altcoin InQubeta Wins Whale Favor

While Raffle Coin is shaking up the world of gaming, InQubeta (QUBE) is making waves in a completely different arena: Artificial Intelligence (AI). This innovative blockchain ICO platform is streamlining the fundraising process for AI-powered startups while simultaneously offering investors a chance to tap into the immense potential of the AI revolution.

InQubeta’s secret weapon? QUBE ERC20 coins that serve as the backbone of the platform’s ecosystem. Here’s what makes QUBE so attractive, especially to whales:

  • Limited Supply, High Utility – With a total supply capped at 1.5 billion tokens, QUBE ensures scarcity while offering a wide range of functionalities. It acts as the primary payment method for transactions on the platform, facilitates governance through voting rights, and fuels marketing initiatives.
  • Democratizing AI Investment – InQubeta’s user-friendly model removes the barriers to entry for aspiring startup investors. Startups create enticing reward-based offers that are converted into the coolest NFTs. These trending NFTs can then be purchased by investors in whole or in fractions through a fractionalization process, making AI investment accessible to everyone.
  • Decentralized Governance – InQubeta embraces a transparent and democratic approach. QUBE token holders have a say in the platform’s future through a voting system. Proposals for changes or new features are discussed and implemented only after receiving community approval.

Why InQubeta Should Be on Your Radar

In a market rife with uncertainty, InQubeta (QUBE) stands out as a well-rounded crypto ICO platform catering to both startups and investors. Its focus on transparency, ease of use, and community involvement makes it a compelling proposition for the long haul.

Conclusion

Keeping tabs on platforms like Raffle Coin and InQubeta could give you a leg up in the ever-changing world of cryptocurrency. These platforms aren’t just about investing money—they’re paving the way for a more inclusive and technologically advanced future in crypto.

Right now, InQubeta is in the last stage (Stage 9) of its presale, with QUBE tokens priced at $0.028. An impressive $12.7 million has already been raised, reflecting investors’ confidence in the platform’s long-term vision.

If you’re curious about what InQubeta has to offer, you can check out their website or join their online community on Twitter.

Visit InQubeta Presale

Join The InQubeta Communities

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Please note that The Crypto Basic does not endorse or support any content or product on this page. We strongly advise readers to conduct their own research before acting on any information presented here and assume full responsibility for their decisions. This article should not be considered investment advice.

Here’s a Projected Timeline for XRP to Reach $100: Top Analyst

Sam Wisdom Raphael
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Here’s a Projected Timeline for XRP to Reach $100: Top Analyst

A crypto market pundit has provided a projected timeline for XRP to reach the ambitious $100 price target, but there might be a catch.

XRP has taken center stage amid the ongoing bull market, but not for the right reasons. Despite Bitcoin (BTC) being 65% up this year and Ethereum (ETH) boasting a 53% gain, XRP has only increased by a mere 1.28% within the same timeframe.

This stunted growth rate has triggered concerns among seasoned and new investors alike. Nonetheless, projections of an imminent price uptick have emerged, with some market analysts pointing out the fact that XRP equally underperformed in the early stage of the 2017 bull run before eventually outperforming the entire market.

As these projections surface, the prospect of XRP breaching $1 and its $3.31 all-time high has been a topic of discussion. However, most recently, Andrew Forte, Head of Strategy at Unfungible and Director of Business Development at dappd, spotlighted an ambitious price target.

Projected Timeline for XRP to Reach $100

Forte recently took to X to present predictions for what he believes could be the state of the crypto market in 2037, thirteen years from now. One such prediction is that XRP would have clinched a $100 price point. The $100 price would represent a 15,951% increase from XRP’s current value.

The host of the 24HrsCrypto media outlet also made a similar price projection last November, predicting XRP to reach $100. He cited Bitcoin’s ability to reach greater heights despite not having the attractive features XRP boasts, including low fees, minimal environmental impact and faster transactions.

In addition, in June 2022, Matt Hamilton, a former Ripple Director, revealed that he sees no reason why XRP cannot reach $100 at some point in the future. When asked if XRP has the potential to reach the $100 price last October, Steven Neyaroff, a former Ethereum advisor, answered in the affirmative. 

While these predictions have been dominant in the community, these pundits have not given projected timelines such as the 2037 from Forte. 

Besides the XRP prediction, Forte also projected other phenomena he believes would materialize in 2037. According to him, Bitcoin would have surged by over 1,320% to $1 million then and Ethereum would be trading at $20,000, marking a 471% rise from the current price.

As for the XRP forecast, analysts at crypto platform Changelly hold a less optimistic view. According to them, XRP would only reach $100 as its maximum price in February 2040. Meanwhile, Telegaon does not see XRP hitting $100 even in 2050.

Top Analyst Sees Shiba Inu (SHIB) Rallying 300%

Lele Jima
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Top Analyst Sees Shiba Inu (SHIB) Rallying 300%

As Shiba Inu recovers most of its losses in the past two weeks, prominent market watcher Xanrox has predicted a 300% upswing for SHIB this year. 

The analyst has issued a favorable prediction for Shiba Inu, speculating that the asset could surge 300% later this year. 

Xanrox’s Analysis 

In a recent analysis, Xanrox urged investors to capitalize on Shiba Inu’s current low price to benefit from a potential upswing.

Xanroxs Shiba Inu analysis
Xanrox Shiba Inu analysis

They made their analysis using the popular trading tool Fibonacci retracement. For the uninitiated, the tool helps traders identify the possible resistance and support level of any asset, like SHIB. 

Notably, the idea behind the Fibonacci retracement tool is that the markets will recede a predictable portion of a move before resuming their movement in the initial direction. 

Using the tool, Xanrox highlighted $0.00002250 as a suitable price point to acquire Shiba Inu before its next wave. 

Furthermore, the analyst stressed the significance of utilizing Elliott Wave technical analysis, which helps forecast future price changes by recognizing repetitive wave patterns regarding market prices. 

Xanrox stated that the Elliott Wave tool would give investors a better understanding of the entire market structure. The analyst urged investors to utilize both the Fibonacci retracement and Elliott Wave tools to identify patterns signaling the right point of entry. The “bullish flag formation” is one of the patterns investors should look out for.  

Shiba Inu Gradually Recovers Losses 

It is worth noting that Shiba Inu demonstrated its strength earlier this month by rallying over to around $0.000045. However, the asset plummeted heavily to around $0.000024 on March 20. 

The canine-themed token is gradually recovering some of the gains lost due to the bloodbath across the broader market this month. SHIB is trading at $0.00003050, down 1% over the past 24 hours. 

At press time, Shiba Inu is down 65.57% from its all-time high of $0.00008845, recorded on October 28, 2021. Per Xanrox, Shiba Inu faces only one significant resistance on its potential upward swing. 

As reported by The Crypto Basic, Shiba Inu is displaying strength to breach the $0.000081 price level, which could pave the way for a new all-time high record at $0.0001553. 

While these predictions look promising, it is imperative to tread carefully when investing in crypto assets, including Shiba Inu. The broader crypto market is rife with volatility, and these predictions are not guaranteed to play out. 

However, Shiba Inu has demonstrated its prowess of rallying significantly in the past, as seen in 2021 when its price peaked at $0.00008845. 

Here’s How Much XRP Ripple Might Sell to Pay SEC $2B

Lele Jima
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Here’s How Much XRP Ripple Might Sell to Pay SEC $2B

With the SEC demanding a nearly $2 billion fine from Ripple, we’ve highlighted the amount of XRP the company might sell to meet this obligation if the court sides with the regulatory agency.

The U.S. SEC recently filed its opening remedies brief, proposed judgment, and accompanying exhibits in the Ripple case. Notably, the part of the SEC’s recent filing that has caught the crypto community’s attention is its proposed judgment. 

SEC Seeks Nearly $2 Billion Fine

The SEC specifically demanded that the court order Ripple to pay $1,950,768,364 ($1.95 billion) in fees and penalties over its violation of federal securities laws. 

According to the SEC, Ripple must pay the $1.95 billion 30 days after the court adopts and issues its proposal as the final judgment.

If the court sides with the SEC and Ripple chooses not to appeal the decision, the company would have to raise the $1.95 billion within 30 days after the final judgment is issued. 

How Much XRP Ripple Could Sell to Pay Fine 

A possible source for Ripple to raise funds is through the sales of the XRP tokens it holds, especially the ones in its escrow accounts. Per the SEC, Ripple held a total of 45.77 billion XRP in its escrow accounts as of December 31, 2023. 

The crypto payments company has already unlocked and utilized 600 million XRP from escrow this year, bringing the total amount locked in escrow to 45.17 billion XRP. 

Should Ripple decide to raise the $1.95 billion fine by strictly selling some of its XRP holdings, the company would need to sell 3,122,728,291 (3.12 billion) XRP in escrow at the current price of $0.6247. 

The 3.12 billion XRP coins that could be sold represent about 6.91% of the total XRP coins in escrow. Taking this route and dumping huge amounts of XRP in the market could wreak havoc on the coin’s price. 

It is noteworthy that this analysis merely borders on a series of events that might not occur. There is no guarantee that the judge would side with the SEC, nor would Ripple accept a ruling that orders it to pay nearly $2 billion in penalties.

In the meantime, Ripple will file its opposition to the SEC’s reply brief by next month and is expected to argue against the proposal. 

Here’s What Shiba Inu Price Will be if SHIB Replicates 1,076% Surge of 2021

Sam Wisdom Raphael
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Here’s What Shiba Inu Price Will be if SHIB Replicates 1,076% Surge of 2021

If Shiba Inu replicates the 1,076% rally it witnessed from September to October 2021, it can breach its all-time high of $0.00008845 and slip into a price discovery phase.

Amid the ongoing bull market, the leading crypto asset Bitcoin (BTC) has already broken above the previous cycle’s all-time high figure, now trading in a price discovery phase, as it continues to hit new peaks in an attempt to determine its fair market value.

While new entrants such as Flare (FLR) and dogwifhat (WIF) have also reached new highs, most of the altcoins that were around during the 2021 bull run have failed to reclaim the last cycle’s peaks. Shiba Inu is one of these tokens, down 65% from its ATH of $0.00008845.

However, market participants have continued to hope for an eventual surge in Shiba Inu’s value above the ATH when the altcoin season takes full force. Some analysts expect the altcoin season to creep in following the Bitcoin halving slated for next month.

Notably, market veterans believe the Bitcoin halving would further catalyze a full-blown price run for the premier cryptocurrency, eventually precipitating into the rest of the market and kicking off the altcoin season. SHIB investors expect the asset to ride on this projected momentum.

Shiba Inu Price if It Rallies 1,076%

However, the extent of Shiba Inu’s rally remains contested despite the growing optimism. Citing historical data, we evaluated what the value of Shiba Inu could be if the asset replicated a mere fraction of its meteoric surge right before it clinched the $0.00008845 all-time high.

For context, Shiba Inu first recorded its meteoric surge in May 2021. The uptrend cooled in the third quarter of the year, but resumed from September 2021. Upon this resurgence, SHIB spiked from $0.000007520 in September to the $0.00008845 ATH in October 2021. This rise marked a 1,076% increase in 49 days. 

Shiba Inu 1W Chart
Shiba Inu 1W Chart

During the current market cycle, Shiba Inu has also witnessed an impressive price rally, albeit at a lower rate than what the market observed in 2021. Interestingly, like the 2021 pattern, SHIB has retraced some of the gains recorded from February to March this year.

Following this correction, analysts expect another round of price surges. If the cryptocurrency replicates the 1,076% for this second leg higher, its price will spike from the current value of $0.00003022 to a high of $0.0003022, representing a new all-time high for the token.

However, it remains to be seen if the cryptocurrency can reproduce this price rally. Shiba Inu recently pushed to breach the resistance at $0.000032 but faced opposition that has brought it back to the $0.00003 territory amid a 3.66% decline yesterday. The token trades for $0.00003022.

Anonymous Wallet Moves 1,407,941,951,453 Shiba Inu to KuCoin

Abdulkarim Abdulwahab
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0
Anonymous Wallet Moves 1,407,941,951,453 Shiba Inu to KuCoin

Embattled crypto exchange Kucoin has surprisingly taken store of 1,407,941,951,453 (1.4 trillion) units of Shiba Inu tokens from an unknown source.

Market tracker Whale Alert called attention to the transaction in a recent post on X. According to the report, 1,407,941,951,453 SHIB tokens were transferred from an anonymous wallet to Kucoin. At the time of the report, the transferred 1.4 trillion SHIB was worth $43,508,926.

Demystifying the Source of the Shiba Inu

This transaction has come as a surprise to some, considering that KuCoin is facing criminal allegations from the U.S. government.

“In light of the recent news regarding illegal operation by Kucoin it’s surprising to see major trades still using the platform,” an X user remarked.

On the other hand, some market participants ponder whether the movement has bullish implications for the Shiba Inu token itself.

Notably, these speculations have emerged amid the unknown source of the 1.4 trillion Shiba Inu moved to KuCoin.

However, on-chain data indicates that the source address is not anonymous as it is one of KuCoin’s cold storage wallets. In particular, the transaction was a withdrawal from KuCoin Wallet 20 to KuCoin Wallet 6.

KuCoin Shiba Inu Transfer
KuCoin Shiba Inu Transfer | Whale Alert

KuCoin Heightened Withdrawal

Over the past few hours, KuCoin Wallet 20 has consistently been depleted of various tokens to different addresses. This withdrawal trend on KuCoin has remained consistent within the past three days.

For instance, on Wednesday, the exchange transferred $158 million in XRP to another wallet to accommodate the increasing volume of cashout requests.

This withdrawal surge coincided with the U.S. government charging KuCoin and its founders for allegedly profiting unlawfully from American users on its platform, stirring fear, uncertainty, and doubt (FUD) within the community.

Responding to the development, KuCoin CEO Johnny Lyu underscored that regulatory actions like these are not exclusive to KuCoin. He asserted that they constitute parts of the crypto industry’s development phases.

Also, Ki Young Ju, the founder of the analytics platform CryptoQuant, has provided on-chain data suggesting no need for panic as the exchange possesses adequate reserves to fulfill withdrawal requests.

Court Records Show Ripple and SEC Just Had Settlement Talks

Lele Jima
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Court Records Show Ripple and SEC Just Had Settlement Talks

The legal tussle between the SEC and Ripple could be approaching a final resolution, as court records show that the parties just had a settlement conference.

According to the CourtListener legal database, the United States District Court for the Southern District of New York recently scheduled a settlement conference regarding the ongoing legal tussle between the SEC and Ripple.

The conference, held yesterday at 3:10 PM (ET), was presided over by Magistrate Sarah Netburn. Interestingly, an X user @bobaboy76239 shared a photo of Ripple execs Brad Garlinghouse and Stuart Alderoty entering a federal courthouse in New York yesterday.

Former SEC Official Weighs In

The photo elicited a series of reactions, as XRP community members were surprised that a settlement conference had happened out of the blue.

Responding to queries about the matter, former SEC official Marc Fagel pointed out that the “surprised” settlement conference was a mandatory pre-hearing meeting, which was part of the original scheduling order of the lawsuit. 

Last year, Judge Analisa Torres ordered the SEC and Ripple to select three dates for a settlement conference. She ordered the parties to meet for at least one hour if they considered a settlement appropriate.

Yesterday’s settlement conference involving the SEC and Ripple was part of last year’s scheduling order.

No Update

In the meantime, there is no official update regarding the outcome of the settlement conference. Prominent crypto journalist Eleanor Terrett disclosed that a Ripple spokesperson told her there was “nothing to share” about the conference.

The comment indicates that nothing significant happened at the conference or that the parties agreed to conceal details of the meeting.

However, the chances of the parties agreeing to put an end to the multi-year legal tussle are minimal. Fagel puts the odds at about 0%, thus implying that the parties would not settle anytime soon.

SEC Seeks Nearly $2B in Penalties Against Ripple

The development comes less than a week after the SEC filed its opening remedies brief. Notably, the SEC asked the court to impose a fine of $1.95 billion against Ripple.

According to the regulatory agency, the massive fine it seeks would deter others from violating federal securities law in the future.

Meanwhile, Ripple would file an opposition to the SEC’s remedies brief by April 22. The company is expected to provide facts and arguments as to why the court should not grant the SEC’s requests.

Afterward, the SEC would file its reply to Ripple’s opposition on May 6, while the court would schedule a date for the final judgment.

Top Analyst Gives Condition for XRP to Rally 93%

Abdulkarim Abdulwahab
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0
Top Analyst Gives Condition for XRP to Rally 93%

Prominent crypto analyst CryptoInsightUK has outlined a condition for the XRP market to witness a minimum rally of 93% for the crypto asset to hit $1.2 soon.

Condition for XRP to Rally 93% 

In a recent post on X, Cryptoinsightuk updated his XRP outlook. The message comes as market participants eagerly anticipate XRP to surpass $1. According to the analyst, the asset requires a daily candle close above $0.75 to confirm the widely-awaited bull rally.

Furthermore, Cryptoinsightuk emphasized that surpassing the $0.75 mark would signify a breakout from the accumulation range the asset has been in for the past 250 days. Accordingly, the analyst noted that the breakout would propel XRP to $1.2 in the short term.

XRP trades at $0.6206 at press time, with no positive gain over the last 24 hours. With its current price, it implies that XRP could rally 93.54% soon to reach $1.2, as the analyst suggested.

However, the crypto token was last seen at the now-crucial $0.75 threshold about eight months ago, in July 2023. The asset came close to this target earlier this month but it quickly lost it and has fallen below $0.6.

Supporting Factor

Meanwhile, analyst EGRAG has also forecasted a short-term target of $1.2 for XRP. However, EGRAG did not specify conditions for this $1.2 projection to actualize. 

Instead, he drew inspiration from one of XRP’s historical wave patterns. In particular, he argued that the current chart patterns of XRP closely resemble a wave formation observed before a significant surge in XRP’s value in the past.

On the other hand, analyst Cryptoinsightuk reinforced his short-term bullish outlook for XRP by pointing out that the overall volume for XRP is increasing. Moreover, he noted that the Relative Strength Index (RSI) on the daily chart appears poised to turn bullish once more.

Besides, the analyst mentioned that a breakthrough above Bitcoin’s all-time high would trigger a surge in altcoins like XRP.

Aggressive Pump for XRP Unlikely this Cycle

Meanwhile, Cryptoinsightuk expressed a strong belief that the current market dynamics resemble those of 2021 more closely.

The analyst stressed that the extraordinary percentage gains witnessed for XRP in 2017 may not necessarily be replicated in the current cycle. This view counters those of analyst EGRAG, who has projected an aggressive pump for XRP to attain $27.

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