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Ethereum Price Outlook for Mar 6: ETH Struggles Below Resistance While $2,010 Support Holds Focus

Mark Brennan
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Ethereum Price Outlook for Mar 6: ETH Struggles Below Resistance While $2,010 Support Holds Focus

Ethereum trades below nearby resistance as analysts watch a key support zone that may determine whether the market stabilizes or extends its correction.

Ethereum (ETH) trades near $2,063, posting a 2.99% decline over the past day as selling pressure weighs on the market. The intraday chart shows the price briefly rising toward the $2,160 area earlier in the session before momentum fades and the asset begins trending lower. After the initial drop, Ethereum continues moving within a downward channel between roughly $2,060 and $2,120, suggesting the market is stabilizing after the sharp pullback.

Performance data across multiple time frames reflects the broader weakness in Ethereum’s recent trend. The asset records a 3.05% decline over the past 24 hours and a 7.43% drop over the last 30 days, while longer-term metrics show deeper corrections, including a 31.81% decline over 90 days.

Despite the recent losses, Ethereum still maintains a 1.76% gain over the past week. Traders are now watching closely to see whether the market can regain momentum or continue consolidating near current levels.

Ethereum Price Prediction

On the 4-hour chart from TradingView, Ethereum shows signs of slowing momentum after a recent upward push toward the $2,200 region. ETH’s price is moving slightly below the William’s Alligator indicator lines, where the lips sit near $2,082, the teeth around $2,073, and the jaw close to $2,055.

Ethereum 4H Price Analysis
Ethereum 4H Price Analysis

The clustering of these lines suggests the market is transitioning into a consolidation phase after the earlier rally. With price hovering around the indicator structure, the $2,050 (jaw) area is acting as a short-term support zone, while the $2,070–$2,085 range forms immediate resistance.

Meanwhile, the Relative Strength Index remains just above 50, indicating balanced market momentum with neither buyers nor sellers holding strong control. Earlier in the chart, RSI briefly approached the 70 region, reflecting the previous surge in bullish pressure before momentum cooled. 

The indicator now stabilizes near the midpoint, suggesting the market is resetting after the rally. If RSI begins rising again while price moves back above the clustered Alligator lines, Ethereum could attempt another push toward the $2,100–$2,150 resistance area. Failure to reclaim those levels may keep the asset trading sideways in the near term.

What Commentators Say

Meanwhile, Ethereum is currently testing a key 50% Fibonacci retracement level near $2,010, a zone that one analyst considers an important support cluster for the ongoing corrective structure.

According to crypto analyst More Crypto Online, the market has not yet confirmed a clear local bottom, as price continues hovering between the 38.2% retracement around $2,054 and the 50% level near $2,010.

This region forms a technical support band, with deeper downside protection appearing near the 61.8% retracement at approximately $1,967.

ETH Price Prediction
ETH Price Prediction

On the upside, Ethereum faces several resistance barriers that could determine whether the market resumes its upward trend. The first resistance sits near the 23.6% retracement level around $2,109, followed by the previous swing high zone near $2,180–$2,213, which aligns with the broader corrective wave structure highlighted in the chart. A sustained move above these levels could open the path toward higher targets around $2,325 and $2,397.

Don’t Underestimate the Value of XRP Ledger, Wealth Advisor Says

Lele Jima
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0
Don’t Underestimate the Value of XRP Ledger, Wealth Advisor Says

Jake Claver, CEO of Digital Ascension Group, has urged the crypto community not to underestimate the value of the XRP Ledger (XRPL). 

In his commentary, Claver argued that XRPL’s expanding payment infrastructure and growing developer activity could position it as a key pillar in the future of global value transfer.

Key Points

  • Jake Claver urges investors not to underestimate the value of the XRP Ledger due to its growing payment utility.
  • The network powers international payment infrastructure, including Ripple Payments.
  • Claver suggests that the expanding payment ecosystem is also attracting developers and new projects to build on the XRP Ledger.
  • Ripple Payments has processed over $100 billion in transactions across more than 60 markets.

XRPL-Powered Payments Expand Across Global Trade Corridors

In his tweet, Claver pointed to the growing reach of the XRP Ledger. He claims the system now connects more than 80% of global trade corridors, enabling faster and more efficient international transactions.

His remarks highlight how the digital asset industry is gradually modernizing cross-border payments. Traditional international transfers pass through multiple intermediaries, often leading to slower settlement times and higher transaction costs.

However, blockchain-based infrastructure such as the XRP Ledger aims to streamline this process. The network enables near-instant settlement and supports liquidity solutions like Ripple Payments. As a result, payment providers and financial institutions are increasingly exploring it as a more efficient alternative.

New Payment Projects Launching on XRPL

Notably, Claver’s comments come shortly after Vlightup Inc. announced the launch of a new global trade finance payment platform in Japan. The system runs on the XRP Ledger and introduces multi-party smart escrow functionality to streamline trade finance transactions.

The platform aims to leverage the XRPL to address long-standing inefficiencies in traditional trade settlement processes.

As developers introduce new applications and financial tools, Claver believes the ecosystem could continue to expand, strengthening the ledger’s role in global finance.

With blockchain networks increasingly being integrated into payment infrastructure, he suggested that the future of global value transfer is becoming clearer, and that the XRPL could play a significant role in that shift.

Widespread Adoption of Ripple Payments

Meanwhile, Ripple has continued to highlight the capabilities of its payment infrastructure. Earlier this week, the company revealed that Ripple Payments provides businesses with a unified platform to move money globally across both fiat and stablecoin rails.

According to Ripple, the network has already processed more than $100 billion in payments across more than 60 markets while operating under more than 75 licenses. Notably, several corporate clients already use the XRPL-powered platform, including MassPay, AMINA Bank, and Banco Genial.

Blockstream CEO Adam Back Predicts Bitcoin at $1.5 Million if It Achieves Gold-Level Valuation

Zabi
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Blockstream CEO Adam Back Predicts Bitcoin at $1.5 Million if It Achieves Gold-Level Valuation

Bitcoin could climb to roughly $1.5 million per coin if its total market value eventually matches that of gold, according to Adam Back, chief executive of Blockstream.

Back shared the projection during remarks at the Global Alts Miami 2026 conference, where he discussed Bitcoin’s long-term outlook. He argued that BTC has consistently distinguished itself from other assets over the past decade, delivering some of the strongest annualized returns among major asset classes.

He also highlighted Bitcoin’s strong risk-adjusted performance, often measured using the Sharpe ratio. However, Back noted that investors must be willing to tolerate significant volatility to capture those returns.

Within that context, he revisited the widely discussed “digital gold” narrative. If Bitcoin’s total market capitalization eventually equals gold’s global market value, Back suggested, the implied price could approach $1.5 million per coin.

Key Points

  • Adam Back projects Bitcoin could hit $1.5 million if its market cap matches global gold.
  • BTC has delivered top-tier annualized returns and strong risk-adjusted performance over the past decade.
  • Institutional adoption is growing, with strategies like a 2% long-term portfolio allocation gaining traction.
  • Major firms, including BlackRock, Morgan Stanley, and Bank of America, are formalizing Bitcoin investment frameworks.
  • Bitcoin recently held above $70,000 despite global geopolitical tensions, demonstrating market resilience.
  • Spot Bitcoin ETFs saw $1.1 billion in net inflows in early March 2026, signaling renewed investor interest.

Institutional Allocation Strategies Emerging

Beyond the long-term price outlook, Back also pointed to growing institutional interest in structured Bitcoin allocations.

He referenced an investment framework proposed by Sean Bill, chief investment officer at BSTR. According to Back, Bill first presented a Bitcoin allocation strategy to a pension fund in 2019, and the plan was ultimately implemented in 2021.

The strategy recommended allocating roughly 2% of a portfolio to Bitcoin and holding the position over the long term. The approach relied on Bitcoin’s asymmetric risk profile.

Under this framework, strong price appreciation could help offset a pension fund’s unfunded liabilities. At the same time, the relatively small allocation would limit downside risk if the asset underperformed.

Back said this model demonstrates how institutions may enhance portfolio returns while participating in Bitcoin’s broader adoption cycle.

Major Financial Institutions Join the Trend

Similar approaches are gradually gaining traction across the financial sector. Several large institutions have begun incorporating Bitcoin into investment discussions and portfolio models.

Firms including BlackRock, Morgan Stanley, and Bank of America have all published guidance related to potential Bitcoin allocations.

According to Back, these developments suggest that institutional investors are increasingly developing formal investment theses around the cryptocurrency. Over time, such frameworks could influence broader capital flows into the digital asset market.

Bitcoin Holds Above $70K Despite Global Tensions

In the near term, Bitcoin’s price has shown resilience despite a volatile geopolitical backdrop.

The cryptocurrency recently reclaimed the $70,000 level even as tensions escalated in the Middle East, including conflict involving the United States and Iran. At the time of writing, Bitcoin was trading near $70,933, up roughly 5% for the week.

Despite the rebound, prices remain well below the market’s previous peak. Bitcoin reached an all-time high of $126,080 on October 6, 2025, leaving the current price about 44% below that record.

ETF Inflows Signal Renewed Investor Demand

Meanwhile, institutional demand appears to be strengthening through exchange-traded funds tied to Bitcoin.

Data from Farside Investors and CoinGlass shows that spot Bitcoin ETFs recorded approximately $1.1 billion in net inflows between March 2 and March 4.

These inflows followed several weeks of withdrawals earlier in the year that had weakened market sentiment. However, the recent data suggests investor confidence may be returning. 

On March 4 alone, spot Bitcoin ETFs attracted about $461.9 million in net inflows. The largest share went to iShares Bitcoin Trust (IBIT), managed by BlackRock, which received roughly $306.6 million during that single trading session.

Together, these trends highlight the continued evolution of institutional participation in Bitcoin markets, even as analysts debate the cryptocurrency’s long-term valuation.

Dogecoin Price Prediction for Mar 6: Can DOGE Break $0.096 Bollinger Band Resistance to Target $0.103 Next?

Mark Brennan
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Dogecoin Price Prediction for Mar 6: Can DOGE Break $0.096 Bollinger Band Resistance to Target $0.103 Next?

Dogecoin approaches a key resistance zone as traders monitor momentum signals to determine whether a broader recovery move can unfold.

Dogecoin (DOGE) trades near $0.0939, recording a 1.91% decline over the past day as the market shows mild selling pressure.

The intraday chart reveals an early surge that briefly pushes the price close to $0.098 before momentum fades and the asset reverses direction. After the spike, DOGE drifts lower and fluctuates between roughly $0.093 and $0.096, suggesting the market enters a short consolidation phase while traders reassess sentiment.

Performance data across broader time frames reflects continued weakness in the asset’s recent trend. Dogecoin posts a 2.04% drop in the last 24 hours, while the 7-day decline reaches about 3.23%, and the 30-day loss extends to roughly 11.13%. With the price hovering near key support levels, the question now is whether buyers can step in and spark the next move.

Dogecoin Price Analysis

On a daily chart, Dogecoin is continuing to move within a broader downward structure that has developed over the past several weeks. Price is closing in on the middle Bollinger Band near $0.0963, indicating that bearish pressure still influences the trend.

The upper band sits near $0.1036, forming a key resistance level, while the lower band around $0.0889 acts as the nearest support if selling pressure intensifies.

DOGE 1D Chart
DOGE 1D Chart

Meanwhile, the Balance of Power indicator remains slightly negative near -0.0025, signaling that sellers maintain a marginal advantage in the market. However, the histogram shows decreasing bearish momentum compared with earlier sessions, suggesting that selling pressure is gradually easing.

If Dogecoin manages to reclaim the middle Bollinger Band around $0.096, the price could attempt a move toward the $0.103 resistance zone, where the upper band currently aligns.

Dogecoin Futures Flows

Recent futures flow data shows mixed but active capital movement in the Dogecoin derivatives market. Over the past 30 minutes, inflows sit at about $22.30 million while outflows stand near $15.50 million, leaving a net inflow of roughly $6.81 million. 

Dogecoin Futures Flows
Dogecoin Futures Flows

A similar pattern appears in the one-hour window, where inflows total $28.97 million compared with $21.05 million in outflows, resulting in a $7.92 million positive net flow. These short-term figures suggest that traders continue allocating fresh capital into DOGE futures positions.

However, longer time frames present a more balanced picture. In the 4-hour and 8-hour periods, net inflows remain positive at about $9.25 million and $9.36 million, indicating steady market participation.

Meanwhile, the 24-hour data shows a slight net outflow of $3.53 million, as total inflows of $710.49 million fall just below $714.02 million in outflows. Over the three days, the market records a larger $26.68 million net outflow.

BlackRock Could Play a Bigger Role For XRP Rather Than Just ETF: Analyst

Abdulkarim Abdulwahab
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0
BlackRock Could Play a Bigger Role For XRP Rather Than Just ETF: Analyst

While many look forward to a BlackRock XRP ETF, some analysts believe the bigger opportunity is in using the XRP Ledger to tokenize real-world assets. 

On a recent podcast, host Paul Barron and crypto commentator Abdullah “Abs” Nassif said BlackRock’s blockchain plans could go far beyond just an XRP ETF.

Key Points

  • BlackRock may focus on tokenizing assets on the XRP Ledger, not just launching an XRP ETF.

  • Analysts say tokenization could create a far bigger institutional use case than a single ETF product.

  • Evernorth CEO Asheesh Birla highlights growing institutional interest in tokenized assets on blockchains.

  • Birla notes blockchain adoption is long-term, with a 10-year cycle needed for major financial transformation.

Tokenization Could Be the Bigger Play

According to Nassif, if BlackRock had launched a spot XRP product, it could have easily become the largest XRP investment vehicle. Moreover, such a move would have further validated the asset for institutional investors.

However, he suggested the absence of the XRP product might indicate that larger plans are unfolding behind the scenes.

Nassif pointed to comments from Matt Hougan, Chief Investment Officer at Bitwise Asset Management, who suggested that major asset managers could begin tokenizing financial products on public blockchains within the next 3 to 12 months.

If firms like BlackRock move in this direction, it could include tokenized versions of stocks, bonds, and commodities. In that context, Nassif proposed a theory that the focus might not be on an XRP ETF at all.

Specifically, he suggested BlackRock could explore tokenizing real-world assets on networks such as the XRP Ledger. If that scenario plays out, it could represent a far larger institutional use case than a single ETF product.

Institutional Interest in Tokenization Growing

Separate comments from Asheesh Birla, CEO of Evernorth, reinforce the trend toward tokenized assets. In an interview with Shyla Khan at an XRP event in Australia, Birla noted that the value of tokenized real-world assets on blockchains has been steadily rising.

He emphasized that the technology enabling tokenization has been in place for years. However, regulatory clarity had been the missing ingredient.

Birla explained that the XRP ecosystem had experimented with tokenized assets, including tokenized gold, long before institutional interest emerged. According to him, the difference today is that large financial institutions are now actively exploring blockchain solutions.

He mentioned companies like Franklin Templeton and BlackRock as examples of institutions testing tokenization as regulatory frameworks improve.

Long-Term Timeline for Blockchain Adoption

When asked about how technological progress might influence the price of XRP, Birla avoided making short-term predictions. To him, blockchain adoption should be viewed over longer time horizons.

He argued that one or two years is too short to measure meaningful transformation in financial infrastructure. Instead, he suggested that a 10-year innovation cycle is more realistic for institutions moving large pools of capital onto blockchain networks.

Birla added that despite market fluctuations, adoption metrics like stablecoin growth and tokenized assets show the industry is much more advanced than a few years ago. For XRP Ledger supporters, this growing institutional interest in tokenization could matter more than any single investment product launch.

Cardano Analysis for Mar 6: Cardano Stabilizes Near Key Support — Is a Move Toward $0.275 Next?

Mark Brennan
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Cardano Analysis for Mar 6: Cardano Stabilizes Near Key Support — Is a Move Toward $0.275 Next?

Cardano steadies near an important support zone as traders monitor whether strengthening momentum can drive a move toward the next resistance area.

Cardano (ADA) trades near $0.2692, reflecting a 0.7% decline over the past day as the market experiences mild selling pressure. The intraday chart shows the price moving within a relatively narrow range between $0.2667 and $0.2775, highlighting short-term volatility as traders react to shifting market sentiment.

After a brief attempt to move higher earlier in the session, the price retreats and continues fluctuating around the $0.27 level. With the asset hovering near recent support levels, traders now watch whether ADA can regain momentum and attempt another move toward the upper range of its recent price band.

Cardano Price Prediction

On the 4-hour chart, Cardano price continues moving within a sideways structure after recent volatility. Price action fluctuates between roughly $0.263 and $0.272, suggesting the market is consolidating while traders wait for a clearer directional signal. The Parabolic SAR indicator currently appears below the candles near $0.2634, which typically signals that short-term momentum is shifting toward the bullish side.

Cardano 4H Analysis
Cardano 4H Analysis

Meanwhile, the MACD indicator shows weak momentum as both the signal and MACD lines hover close to the neutral zone. The histogram bars remain small, indicating limited buying or selling pressure in the short term. This setup suggests that Cardano is currently in a consolidation phase, with a stronger push above nearby resistance around $0.272–$0.275 opening the path for a short-term recovery.

Cardano Liquidation Data

Elsewhere, recent Cardano liquidation data shows relatively modest activity in the derivatives market compared with larger cryptocurrencies. Over the past hour, total liquidations have reached about $4.66K, with short positions accounting for roughly $3.69K, while long liquidations remain near $967.

Cardano Liquidation Data
Cardano Liquidation Data

The pattern shifts slightly across longer time frames. In the 4-hour window, liquidations total approximately $20.15K, with long positions contributing about $14.66K and shorts around $5.49K. Ultimately, over 12 hours, liquidations climb to roughly $44.10K, while the 24-hour total reaches about $768.33K, dominated by $611.58K in long liquidations compared with $156.75K in shorts.

Cardano Building Foundation for the Next Major Bullish Phase: Analyst

Elendu Benedict
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Cardano Building Foundation for the Next Major Bullish Phase: Analyst

Cardano is holding a key support area, building a long-term bottom that would be crucial for the next bullish market price.

Despite macro headwinds, Cardano (ADA), like most other cryptocurrencies, has shown resilience. What usually sparks a broader market bloodbath and a new lower low formation could not even push the coin to its yearly low, signaling a behavioral change among holders.

Meanwhile, an early sign of stabilization is forming. Specifically, recent price action has drawn sentiments that ADA is forming a long-term price bottom.

Key Points

  • Cardano has recently shown signs of stabilization after a prolonged decline that pushed the asset toward the $0.22 region.
  • As the price approached the historic price bottom, buying interest intensified, allowing ADA to rebound toward the $0.31 area before cooling off.
  • Cardano could be forming a long-term bottom, which would be the groundwork for the next explosive market phase.
  • ADA could see a price expansion phase in the next 9 to 15 months, targeting a 60% to 200% price growth.

Cardano Finding Support After Extended Decline

An analysis from ArmanShaban highlights that Cardano has recently shown signs of stabilization after a prolonged decline that pushed the asset toward the $0.22 region. Notably, the coin has corrected for six consecutive months, dropping 76.8% from its September highs of $0.95 to a low of $0.22 on February 6.

As the price approached the historic price bottom, buying interest intensified, allowing ADA to rebound toward the $0.31 area. The commentary notes that the recovery suggests buyers remain active at key price levels, preventing a continuation of the downward pressure.

However, after that brief recovery, momentum slowed again, and the market entered another corrective phase. ADA earlier bounced from $0.20 to $0.31 on February 25 but has gradually settled near $0.27, where price action now appears to be consolidating.

Cardano Possible Bottom Formation/ArmanShaban
Cardano Possible Bottom Formation/ArmanShaban

Possible ADA Bottom Formation

While short-term fluctuations remain visible, the broader environment across the digital asset sector may be shifting. The analyst believes the market could be moving through a longer accumulation phase, where prices consolidate before the next major directional move begins.

This could be a long-term bottom formation for ADA, with the $0.22 support acting as a stronghold, preventing corrections to lower prices. The commentary highlighted that this would be the groundwork for price stabilization, with momentum accumulating for the next explosive market phase.

Targets in the Next Bullish Phase

If this theory proves true and the consolidation persists, ADA could see a price expansion phase in the next 9 to 15 months. This aligns with the end of this year and early 2027, a timeline in tone with several other analyses.

During the upcoming bullish phase, the market watcher expects price growth ranging from 60% to 200% for Cardano and most major cryptocurrencies. From the current market price of $0.27, this would take ADA’s price to between $0.433 and $0.81.

In the meantime, ADA needs to hold the $0.24-$0.26 support to avoid further declines. To do this, whales need to sustain buying pressure, and the broader crypto market needs to stay stable. Data from Coinglass shows that Cardano spot outflows into exchanges have surpassed inflows, suggesting that users are slowly accumulating.

Why Cardano Could Be a Strong Fit for Elon Musk’s X Money

Lele Jima
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Why Cardano Could Be a Strong Fit for Elon Musk’s X Money

Ahead of the launch of X Money, analytics platform TapTools outlined why integrating Cardano could strengthen the payment system’s global financial ambitions.

Momentum around X Money, the initiative designed to transform X into a financial super-app, has intensified in recent weeks. The excitement grew after Canadian actor William Shatner shared the first screenshots of the payment platform.

Meanwhile, the widely followed X account Teslaconomics added to the speculation by predicting that the platform could eventually integrate cryptocurrencies.

Key Points

  • TapTools argues that Cardano’s scalable, energy-efficient, and low-cost blockchain infrastructure makes it a strong candidate to power large-scale digital payments on X.
  • Some community members believe the upcoming launch of Midnight could make it better suited to financial services within X’s ecosystem.
  • Early screenshots of X Money suggest the platform is progressing toward a public launch.
  • Although speculation previously pointed to support for assets such as XRP or Dogecoin, Elon Musk recently reacted to a post suggesting the platform may prioritize stablecoin adoption.

“X Money Should Integrate Cardano”

In a tweet, TapTools explained how Cardano could support microtransactions, creator payments, and global peer-to-peer transfers if Elon Musk incorporates crypto into X’s payment ecosystem.

Scalability

According to TapTools, Cardano’s blockchain infrastructure is built for high transaction throughput, enabling it to handle large volumes of payments. As a result, the network could potentially support millions of transactions if X Money serves the platform’s hundreds of millions of users.

Low Transaction Fees

In addition, TapTools highlighted Cardano’s low, predictable transaction fees. This feature could enable tipping systems, creator payments, and peer-to-peer transfers directly within the X ecosystem without relying on traditional payment processors.

Energy Efficiency

The analytics platform also highlighted Cardano’s energy efficiency. The network operates on a proof-of-stake (PoS) mechanism rather than proof-of-work (PoW) systems that consume high energy. Consequently, the model aligns with Musk’s long-standing interest in sustainable and efficient technology infrastructure.

Decentralization and Security

Furthermore, TapTools pointed to Cardano’s strong security and decentralization. The network is supported by more than 3,000 independent stake pools that help maintain censorship resistance and ensure the system operates without centralized intermediaries.

Smart Contract Capabilities and On-Chain Transparency

Beyond basic transfers, TapTools noted that Cardano’s smart contract capabilities enable programmable financial services. These features could power automated payments, subscriptions, and decentralized financial tools embedded directly within X’s platform.

Moreover, the analytics platform highlighted Cardano’s on-chain transparency. Since every transaction on the blockchain is publicly verifiable, TapTools noted that the system could offer greater auditability than traditional payment processors.

Community Enthusiasm and Current Realities

The TapTools proposal has received strong support from the Cardano community. Some users suggested that the upcoming mainnet launch of Midnight could further enhance privacy features within the ecosystem.

Others pointed out that the Cardano network has never experienced downtime since its launch, which they view as a key reliability advantage.

Meanwhile, X Money has not yet adopted any specific blockchain or token. The platform recently launched its internal beta, with a public rollout expected later this year.

Crypto or Stablecoin?

Earlier speculation suggested the payment system might support assets such as XRP or Dogecoin, a cryptocurrency. Notably, Cardano Founder Charles Hoskinson even reached out to Musk to fix Dogecoin and make it suitable for potential X Money integration. However, the billionaire did not respond.

Recently, Musk acknowledged a post suggesting that the payment platform could prioritize stablecoins instead. Nonetheless, the adoption of any cryptocurrency could mark a significant milestone given X’s massive user base of roughly 570 million monthly users.

CIO of Arca Calls XRP “Opposite of Good Token Design”

Mark Brennan
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CIO of Arca Calls XRP “Opposite of Good Token Design”

Jeff Dorman, CIO at Arca, recently suggested that XRP represents the “opposite of good token design” amid criticisms of the top crypto assets.

He argued that the gap between cryptocurrency adoption and market prices remains largely because four of the top five crypto assets by market cap remain weak investments. 

Dorman criticized Bitcoin, Ethereum, Solana, and XRP, claiming their token economics do not show the real value created by blockchain technology. According to him, this situation has pushed the industry toward short-term trading instead of long-term fundamental investment.

Key Points

  • Jeff Dorman of Arca said the crypto industry struggles because four of the top five assets by market cap are difficult to justify as long-term investments.
  • For XRP, Dorman claimed the token does nothing, lacks strong design, and has no linkage to Ripple despite the firm selling billions a year.
  • Dorman also questioned Bitcoin, highlighting concerns about quantum risks and the rise of stablecoins for payments.
  • He said Ethereum and Solana face high token inflation and would need roughly 1,000 times more activity to justify current valuations.
  • Dorman believes the strongest growth in crypto will come from stablecoin payments, DeFi, and real-world asset tokenization, areas where firms like BlackRock and Securitize are already active.

Arca Executive Says Crypto’s Biggest Assets Are Weak Investments

Dorman made these comments in a recent X post. According to him, the industry grew around a few large tokens that do not capture the value created by blockchain technology. As a result, much of the market attracts short-term traders instead of long-term investors who usually focus on fundamentals.

He believes this situation explains why exchanges and brokers often focus on fast-moving traders and macro funds like CTAs, rather than the larger group of investors who dominate traditional financial markets. 

The Arca executive believes prices may continue moving out of step with actual adoption if the crypto market does not start pushing toward assets that truly benefit from blockchain growth. However, he failed to highlight multiple examples of such assets.

Dorman Targets XRP Token Design

Notably, Dorman directed some of his strongest criticism toward XRP. He argued that the token represents “the opposite of good token design,” and claimed that it “does absolutely nothing,” while also lacking a strong connection to Ripple.

He also raised the issue involving Ripple’s regular XRP sales. Dorman said the company sells about $3 billion to $4 billion worth of XRP each year and uses the money to fund equity buybacks. To him, the crypto community often discusses token buybacks but does not question why Ripple sells XRP tokens while buying back its own company stock.

XRP’s Lack of Connection to Ripple is Favorable 

However, several details about XRP and the XRP Ledger (XRPL) discredit some of the concerns from the Arca executive. For one, XRP’s lack of connection to Ripple is a feature, not a bug, as it remains favorable to the XRP ecosystem.

Specifically, the XRPL runs as an open-source and decentralized blockchain run by over 100 independent validators operated by universities, exchanges, and businesses across the world. This means Ripple does not control the network, even if authorities tried to force the company to do so.

The network’s design also separates the token from corporate control. XRP has a fixed supply of 100 billion tokens, and developers cannot create more. The idea behind XRP also existed before Ripple was founded, which also shows that the token and the company are not the same thing.

XRP’s Utility in Payments and Blockchain Use

Also, claims that XRP does “absolutely nothing” fall apart when considering its utility in payments and the XRPL’s features. Notably, the XRPL includes built-in tools for tokenization, decentralized finance, and NFTs. It also offers a native decentralized exchange and escrow features.

The network can handle around 1,500 transactions per second, while fees stay at fractions of a penny. Data from the ecosystem also shows that the XRPL currently hosts more than $2.3 billion worth of tokenized real-world assets. 

Meanwhile, developers have also introduced updates like Permissioned Domains, which aim to make it easier for institutions to use the network in a compliant way. In addition, a native lending protocol is under development.

XRP also acts as a bridge asset for cross-border payments. Through the Ripple Payments system, financial institutions settle international transfers instantly without holding money in foreign accounts ahead of time. The service has already processed billions of dollars in payment volume.

Ripple’s XRP Sales Aim to Reduce Its Holdings 

While Dorman questioned Ripple’s XRP sales, the company actually releases its tokens, about 200 million XRP each month, as part of a long-term plan to reduce its holdings after the original XRPL creators allocated 80% of the total supply to the firm. Former Ripple CTO, David Schwartz, confirmed earlier that the firm’s goal is to reduce its balance.

However, to prevent large market shocks, Ripple locked much of the balance in escrow to release the tokens periodically. Data shows that the 200 million XRP released monthly equals roughly 0.1% of XRP’s monthly trading volume, suggesting that it has limited direct pressure on the price.

Bitcoin, Ethereum, and Solana Also Face Criticism

Meanwhile, besides XRP, Dorman also questioned the investment case for Bitcoin. He highlighted the ongoing discussion around quantum computing risks, saying the technical fix may be simple, but coordinating it across the network would create governance challenges.

The Arca executive also argued that Bitcoin’s image as digital gold has weakened, especially since tokenized gold now exists on blockchain networks. He also said Bitcoin does not work well as an inflation hedge or a medium of exchange, since stablecoins dominate everyday crypto payments.

Dorman also questioned the current market valuations of Ethereum and Solana. He argued that both networks deal with high token inflation, which can outweigh fee revenue and sometimes allow market caps to rise even while token prices fall.

Looking ahead, he believes three parts of the crypto industry currently show the strongest growth. These include stablecoin payments, decentralized finance, and real-world asset tokenization, areas that have captured attention from firms like Securitize and BlackRock.

New Shiba Inu Targets as Price Bounces from Local Support

Lele Jima
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New Shiba Inu Targets as Price Bounces from Local Support

Shiba Inu recently tested a key support level but has since recovered rapidly, building momentum for a bounce to measured targets.

As the broader crypto market shows notable uptrend momentum, Shiba Inu is looking to leverage this trend. Notably, the lower-timeframe chart shows the meme coin is already gaining strength for this move after holding local support.

Key Points

  • Shiba Inu tested a key support level and has since recovered rapidly, building momentum for a bounce to measured targets.
  • SHIB has retested the local bottom between $0.00000544 and $0.00000520, triggered by the March 5 corrective move.
  • However, the token quickly rebounded from the local support and has reclaimed the $0.0000055 demand area.
  • Shiba Inu could record a measured price move after a successful retest of the local support to two notable resistance areas.

Shiba Rallies Then Dumps

Slight bullish momentum returned to the market two days ago, as Bitcoin rallied to $74,000, a price last seen in early February. Shiba Inu grew too, but not as strongly as the pioneering cryptocurrency.

It grew 4% on March 4, reaching a high of $0.00000586 before closing around $0.00000570. Meanwhile, this move was short-lived, as SHIB has since retraced considerably. A 3% drop yesterday saw it drop back to the $0.0000055 region.

Beneath these price swings, market commentator SwallowAcademy has identified what the meme coin could do next. One of his possible price scenarios is playing out neatly, and the target is well above the current price level.

Bounce from Local Support

The Thursday analysis highlighted two possible scenarios, one of which was a bounce from the smaller support area around the $0.0000055 region on the 1-hour timeframe. However, this did not happen as bears pushed prices lower.

Nonetheless, the second scenario is in play as the token has retested the local bottom between $0.00000544 and $0.00000520. The downward trend on March 5 triggered a retest of support, but SHIB did not stay there for long.

It quickly rebounded from the local support and has reclaimed the $0.0000055 demand area. This aligns with SwalowAcademy’s prediction, which expects a further uptrend from the current price levels.

Set Shiba Inu Uptrend Targets

The accompanying chart shows a measured price move after a successful retest of the local support to two notable resistance areas. The closest target is $0.00000586, aligning with the March 3 intraday high. The token is just 5% away from this target at the current market price of $0.00000558.

Shiba Inu Targets After Bounce from Local Support/SwallowAcademy
Shiba Inu Targets After Bounce from Local Support/SwallowAcademy

Breaking above the resistance would see Shiba Inu retest the second target at $0.00000644. This represents a 15.6% increase from here and closely aligns with the area where the meme coin peaked on February 26.

Interestingly, the analyst labelled these “smaller targets,” suggesting that a much larger bullish move could develop on higher timeframes if momentum sustains. Recall that he predicted earlier that SHIB would surpass $0.0000085, citing a bullish formation.

Notably, these moves are not guaranteed, as bears remain in full control of the market. The broader market condition would have to improve for SHIB to have a chance at such an uptrend.

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