Home Blog Page 497

Shiba Inu Team Says “We’re Still Very Much Alive,” But for How Long?

Abdulkarim Abdulwahab
-
0
Shiba Inu Team Says “We’re Still Very Much Alive,” But for How Long?

The Shiba Inu team has pushed back against doubts about the project’s existence and relevance, citing key metrics that show SHIB remains an active and widely traded token in the crypto market. 

Following Bitcoin’s new all-time high of $126,198 yesterday, Shiba Inu’s official X handle teased that SHIB could be the next token to reach a record peak. At the time of the post, SHIB traded at $0.00001290, which implies it would need a 586% rally to surpass its previous all-time high of $0.00008845. 

Shiba Inu Remains Active 

While the projection stirred optimism among supporters, skeptics questioned SHIB’s ability to achieve such a surge. Some pointed to the lack of strong momentum within the ecosystem, arguing that it remains insufficient to propel the token to new heights.

Notably, one user took things to another level by questioning whether the Shiba Inu project was still in existence. In a confident and data-driven response, the Shiba Inu team highlighted the project’s continued strength and relevance in the crypto market.

According to the team, SHIB, the primary token of the Shiba Inu ecosystem, boasts over 1.5 million on-chain holders. It also sees a daily trading volume of over $214 million.

Building on these figures, the team confidently declared that Shiba Inu is “still very much here,” emphasizing that SHIB is not only alive but continuing to thrive in the crypto market. 

How Long? 

While the metrics shared by the team indicate that Shiba Inu remains active, other stats, particularly the price, paint a different picture. Notably, SHIB has crashed 85.51% since reaching an ATH of $0.00008845 in October 2021. The token has also plummeted 39.6% YTD and has remained stuck around the $0.00001 price territory. 

Some enthusiasts attributed this lackluster performance to several factors, including the team’s anonymous leadership style, internal disputes among members, and the involvement of some team figures in promoting tokens outside the Shiba Inu ecosystem. 

Investors have also pointed to SHIB’s massive circulating supply of 589.24 trillion tokens as a key obstacle to growth. Despite reducing the total supply by 41% — from 1 quadrillion to 589.24 trillion — many community members stress that more aggressive token burns are necessary to trigger a more substantial rally. 

Critics warn that unless the team tackles these persistent challenges, SHIB could face an even steeper decline, making it difficult to reclaim its previous ATH or achieve a new record valuation. 

Here’s XRP Price if XRP is Able To Reach Silver’s Worth

Sam Wisdom Raphael
-
0
Here’s XRP Price if XRP is Able To Reach Silver’s Worth

The XRP price has the potential to cross the $40 psychological level if XRP ever matches the market worth of silver.

Notably, XRP has continued to struggle at the $3 price level since the start of October, unable to decisively surpass the region but persistently defending the support at $2.98. Amid this power tussle between the bears and bulls, XRP’s market cap has continuously fluctuated between $176 billion and $185 billion this month.

XRP’s Market Cap Struggles

XRP’s next market cap target rests on the $190 billion mark, where it collapsed from on Sept. 13 when it dropped from a price of $3.18. Meanwhile, beyond the $190 billion mark, XRP’s market cap eyes the $200 billion milestone, a level it attained in mid-July.

Specifically, XRP’s valuation reached an all-time peak of $216.69 billion on July 18, coinciding with an all-time high price of $3.66 that day. After this, XRP price slumped and so did its market valuation. By July 24, the market cap had dropped below $200 billion, and XRP has failed to surpass the milestone since, besides a mild retest on Aug. 8. 

Could XRP Become Digital Silver?

If XRP again surpasses the $200 billion mark, it could start targeting higher levels, a journey that would be immensely beneficial to its price. Interestingly, market participant Diep Sanh found in August 2020 that XRP was mirroring silver’s price movements from 2005 before the precious metal’s parabolic surge.

Additionally, others have suggested that if Bitcoin is digital gold, then XRP itself is digital silver. Considering these mentions, our latest report explored the prospect of XRP targeting the valuation of silver, the second most valuable precious metal on earth.

For context, silver has a market cap of $2.725 trillion, making it the sixth-largest asset by valuation. The precious metal also ranks above Bitcoin (BTC), the original cryptocurrency, in terms of market cap. However, what if XRP, touted as digital silver, matched silver’s market cap?

XRP Price if It Matches Silver’s Market Cap

Considering its current valuation of $179.03 billion, XRP’s market cap would need to grow by a massive 1,421% to reach silver’s $2.725 trillion worth. At such a market cap, the price of 1 XRP will have soared to $45.41 with XRP’s current circulating supply of around 60 billion tokens. 

To put things into perspective, a market participant who commits $10,000 into XRP today would procure 3,355 tokens at the current XRP price of $2.98. However, should XRP hit silver’s market cap with the price soaring to $45.41, the worth of these 3,355 tokens would grow to around $152,000, presenting gains of over $142,000.

While the potential sounds enticing, the prospect of XRP matching silver’s market cap remains ambitious at press time. There is no guarantee that XRP will ever hit this milestone. Also, in such a scenario, Bitcoin, which remains the crypto market leader, could also have a worth of about $37.8 trillion. 

Analyst Explains Key Risk for Long-Term XRP Holders as Uptrend Strengthens

Abdulkarim Abdulwahab
-
0
Analyst Explains Key Risk for Long-Term XRP Holders as Uptrend Strengthens

As the uptrend case for XRP strengthens, analyst Blake Stonks has shared what he believes is the key factor supporting XRP’s bullish structure for long-term holders.

In a tweet, Stonks shared a chart showing that XRP continues to demonstrate strength. Notably, the coin maintains a long-term ascending trendline that has guided its steady rise since the last quarter of 2024.

XRP Maintains a Strong Long-Term Uptrend

According to the widely followed market analyst, this trendline defines the key structure supporting XRP’s bullish outlook. Stonks explained that the asset now has an “established long-term uptrend,” and the main risk for holders is a failure to sustain that trend.

In simpler terms, as long as XRP’s price remains above this rising line, currently near the $2.80–$3.00 range, its upward momentum remains intact.

Notably, the trendline highlighted by Stonks connects a series of higher lows dating back to late 2024. Each time XRP has dipped toward this line, buyers have stepped in, confirming it as dynamic support.

However, the analyst cautions that if XRP closes decisively below this level, it could change the market sentiment. Specifically, such a breakdown might invite more selling pressure and mark the end of the current bullish phase that has been developing for nearly a year.

XRP chart by Blake Stonks
XRP chart by Blake Stonks

Another Long-Term Line Suggesting a Move to $10

While Stonks has remained silent on XRP’s immediate short-term target, other analysts, like EGRAG, have been more explicit in their projections based on similar technical structures.

In one of his analyses, EGRAG highlights a long-term resistance line that XRP has repeatedly failed to break — notably in 2018 and 2021.

Like in Stonks’s chart, this resistance line trends upward over time, with XRP gradually following. EGRAG refers to this level as “The Chasm,” projecting a $10+ target the next time XRP retests the line.

Image

Breakout Above $3.65 Holds the Key

While these analyses focus on XRP’s longer-term outlook, another top analyst, CryptoWZRD, has weighed in on XRP’s short-term prospects.

He noted that XRP has been consolidating just below its 2018 all-time high for over 300 days. He described the current setup as the calm before a major expansion.

CryptoWZRD believes that a break above $3.65 could propel XRP toward $4.50 in the next leg of its rally. He also pointed out that multiple resistance zones have flipped into support, further strengthening the bullish case.

Together, the analyses from Stonks, EGRAG, and CryptoWZRD all suggest that XRP is in a strong uptrend. As long as it stays above its rising trendline and breaks past $3.65, the altcoin could begin a new rally toward $4.50, opening the door to even higher levels never seen before.

Bitcoin Breaks New All-Time High as US Shutdown Pushes Investors to Safe-Haven Asset

Zabi
-
0
Bitcoin Breaks New All-Time High as US Shutdown Pushes Investors to Safe-Haven Asset

Bitcoin surged to an all-time high over the weekend amid rising investor anxiety over the U.S. government shutdown and eroding confidence in fiat currencies.

The world’s largest cryptocurrency reached $125,689 in early Sunday, surpassing its prior mid-August high and maintaining its strong trajectory in 2025. This milestone comes as investors reassess their exposure to traditional markets and currencies.

Analysts contend that the shutdown, combined with rising inflation and expanding government deficits, has prompted a renewed shift in investor behavior. Consequently, there is an increased interest in alternative stores of value, including Bitcoin and gold.

Shutdown Spurs Demand for “Safe Havens”

According to Bloomberg, the budget stalemate in Washington has intensified investor interest in assets resistant to currency devaluation, a trend traders call the “debasement trade.”

Bitcoin, alongside gold and select equities, has seen strong inflows as investors brace for economic disruption.

“Many investors are treating Bitcoin like digital gold,” said Joshua Lim, co-head of markets at FalconX. “As fears around dollar weakness grow, it’s no surprise the asset is benefiting from the debasement narrative.”

Economic Pressures Deepen Market Shift

Several factors are feeding this safe-haven appetite. Persistent U.S. inflation, ballooning government debt, and uncertainty over Federal Reserve policy have all eroded confidence in the stability of fiat currencies.

In emerging markets, this erosion of trust is even more pronounced, prompting greater adoption of crypto.

“The shutdown matters more this time,” said Geoff Kendrick, global head of digital assets research at Standard Chartered. “Bitcoin now trades as part of the global risk complex and the market is treating it as a serious macro hedge.”

‘Uptober’ Trend Boosts Optimism

Meanwhile, October has historically been one of Bitcoin’s strongest months, a pattern known among traders as “Uptober.”

Data shows Bitcoin has finished higher in nine of the past ten Octobers. This, in turn, contributes seasonal optimism to an already bullish setup.

Furthermore, this trend, paired with renewed inflows into Bitcoin-linked ETFs, has helped reinforce positive momentum. Likewise, the broader risk environment, including record U.S. equity highs and surging demand for artificial intelligence stocks, has also contributed to Bitcoin’s upward trajectory.

Gold, too, is gaining, extending a seven-week winning streak amid central bank buying and falling real interest rates.

Institutional Players and Policy Tailwinds

Institutional support remains another pillar of Bitcoin’s rally. For context, public companies, led by Michael Saylor’s Strategy, have continued to add Bitcoin to their balance sheets. Moreover, that corporate playbook, once considered risky, has since gained traction across multiple sectors.

Supportive policy signals from the Trump administration, particularly around digital asset regulation and taxation, have also encouraged investment across the crypto space.

JPMorgan Predicts Bitcoin Price to Hit $165,000

Earlier this month, JPMorgan analysts projected that Bitcoin could rise to around $165,000. This estimate assumes that its volatility relative to gold will continue to decline.

The bank’s team, led by Nikolaos Panigirtzoglou, observed that Bitcoin’s volatility-to-gold ratio has fallen below 2.0. Therefore, the asset’s risk-adjusted profile is improving gradually.

Based on that ratio, JPMorgan estimates Bitcoin’s current $2.3 trillion market capitalization could increase by roughly 42%. If realized, this growth would put it on par with the $6 trillion in private investment currently held in gold via ETFs, bars, and coins.

The report notes Bitcoin has shifted from being overvalued at the end of 2024 to significantly undervalued now, suggesting strong upside potential if macro trends persist.

At press time, Bitcoin was trading near $124,866, up 1.2% in the past 24 hours and more than 30% year-to-date. Its total market capitalization now exceeds $2.48 trillion, reinforcing its dominance over the broader cryptocurrency market.

Grayscale’s Ethereum ETFs Become First in US to Enable Staking

Lele Jima
-
0
Grayscale’s Ethereum ETFs Become First in US to Enable Staking

Grayscale’s Ethereum ETFs, such as ETHE and ETH, have become the first exchange-traded funds to enable staking in the United States. 

The leading crypto asset manager unveiled the groundbreaking move today, confirming that investors can now earn passive rewards via the Grayscale Ethereum Trust ETF (ETHE) and its Grayscale Ethereum Mini Trust ETF (ETH). 

The move makes ETH and ETHE the first U.S.-listed ETFs to enable staking, allowing investors to earn passive rewards while maintaining spot exposure to Ethereum. 

Grayscale Activates Staking for Its Solana Trust 

In addition, Grayscale also expanded the staking feature to its Solana Trust (GSOL), which currently trades on the OTCQX Market. According to Grayscale, this development offers investors a unique opportunity to participate in Solana staking directly through traditional brokerage accounts. 

Notably, the company emphasized that it will passively stake the ETH and SOL held in its Ethereum ETFs and Solana Trust. According to the announcement, Grayscale will implement staking through institutional custodians and a diversified network of validator providers. 

Through this offering, the crypto asset manager aims to provide investors with exposure to the long-term value accrual of Ethereum and Solana. It will also maintain the funds’ primary goal, which involves providing investors with exposure to the performance of SOL and ETH. 

Potential Distribution of Rewards 

Meanwhile, Crypto in America’s journalist Eleanor Terrett disclosed how Grayscale will distribute staking rewards to investors. Terrett noted that Grayscale will pay out staking rewards directly to ETHE investors. 

However, she suggested that the company will strategically integrate the yield into the share prices of its Ethereum Mini Trust ETF and the Solana Trust. According to her, the staking feature will launch at today’s market open across all three investment products — ETHE, ETH, and GSOL. 

In the meantime, the company plans to expand its staking offering to other investment products in the future. 

Grayscale Enables Staking Offering Despite US Government Shutdown 

Grayscale’s staking offering for its Ethereum and Solana funds comes on the heels of the U.S. government shutdown, which impacted the SEC’s routine operations, especially its ability to approve the launch of new investment products. 

Despite the shutdown, Grayscale rolled out the staking feature across its Solana and Ethereum investment products. The asset manager clarified that its funds, particularly ETHE and ETH, operate outside the regulatory framework that governs traditional ETFs under the Investment Company Act of 1940. 

While Grayscale has already introduced staking for its Ethereum ETFs, other issuers aiming to offer a similar feature, including BlackRock, are still awaiting the SEC’s decision. 

Galaxy Digital Launches New Super App Offering Crypto, Stocks, and 8% Yields to U.S. Investors

Abdulkarim Abdulwahab
-
0
Galaxy Digital Launches New Super App Offering Crypto, Stocks, and 8% Yields to U.S. Investors

Galaxy Digital, led by billionaire Mike Novogratz, has launched GalaxyOne, a new fintech platform offering professional-grade financial products to individual investors in the U.S.

Available on iOS, Android, and web, the platform unifies crypto trading, U.S. stock investing, and high-yield savings into a single digital experience.

Yield Options for All Types of Investors

Notably, GalaxyOne offers two main products for investors seeking to earn interest. The first is Galaxy Premium Yield, designed for accredited U.S. investors. Participants can earn up to 8.00% APY through a note issued by Galaxy Digital LP. 

Galaxy’s lending business backs this offering, with a $25,000 minimum and $1 million maximum per investor. The firm will pay interest monthly, capping the total program at $250 million.

The second product, GalaxyOne Cash, offers 4.00% APY on cash held in an FDIC-insured account through Cross River Bank. Interest is calculated daily and can be automatically reinvested into cryptocurrencies such as Bitcoin, Ethereum, or Solana.

Unified Platform for Crypto and Equities

Beyond high-yield savings, GalaxyOne provides access to:

Crypto Trading & Custody: At launch, users can buy, hold, and transfer Bitcoin, Ethereum, and Solana, with more assets coming soon.

Stock & ETF Trading: Access over 2,000 U.S. stocks and ETFs with zero-commission trading. Features include fractional shares and support for both traditional and Roth IRAs.

Stock Lending Program: Earn passive income by lending eligible U.S. stocks through GalaxyOne’s built-in lending feature.

With all of this in one place, GalaxyOne aims to bridge traditional finance and digital assets, giving users a unified way to grow and manage their wealth.

From Institutional Backbone to Retail Frontline

Mike Novogratz, CEO of Galaxy Digital, said the company spent years building tools for top-tier investors. Now, they are bringing that same quality to everyday users.

Notably, GalaxyOne began as a finance app called Fierce, which Galaxy acquired for $12.5 million in 2024. The Fierce team now leads GalaxyOne, with Zac Prince serving as Managing Director and former Fierce CEO Rob Cornish as CTO.

Prince says GalaxyOne is built to meet the needs of modern investors, offering higher yields, simple access, and a platform that connects traditional and crypto finance—all backed by Galaxy’s trusted infrastructure.

Notably, GalaxyOne’s launch places Galaxy Digital in direct competition with fintech leaders like Robinhood and Cash App. Meanwhile, what sets it apart is its high-yield offerings and banking-grade infrastructure.

Notably, yield-bearing stablecoins aren’t available at launch, due to U.S. regulations under the GENIUS Act. However, Galaxy has hinted at a roadmap ahead, with more assets and features coming soon.

$6B Real Estate Giant Opendoor to Accept Bitcoin

Sam Wisdom Raphael
-
0
$6B Real Estate Giant Opendoor to Accept Bitcoin

Opendoor, the $6 billion real estate giant, may soon join the growing list of companies embracing Bitcoin and crypto payments.

The company’s CEO, Kaz Nejatian, hinted at such a plan in a recent conversation on X, suggesting that Opendoor may soon allow customers to buy homes using Bitcoin. However, the firm has not yet released an official statement.

In the conversation, Nejatian told his audience that he wanted to let everyday shareholders ask questions directly to the management team during the next earnings call. He said he already had some ideas but was open to hearing suggestions. 

Responding, Pavia Grawal, VP and Head of IT at Relativity, suggested that it would be great if Opendoor allowed people to buy homes using Bitcoin or other digital currencies. Nejatian confirmed that the company plans to make that possible but still needs to prioritize it.

Opendoor CEO on X
Opendoor CEO on X

How Could Opendoor Embrace Bitcoin?

As an iBuyer, Opendoor buys and sells homes directly, and it could leverage Bitcoin and crypto for multiple areas of its services. For one, the company could let buyers use Bitcoin for full or partial payments, such as down payments, when purchasing homes from its listings. 

In addition, sellers could also choose to receive payment in Bitcoin when selling their homes to Opendoor. Moreover, Opendoor could even allow customers to pay closing costs, title fees, or commissions in Bitcoin to make transactions smoother.

To handle conversions between Bitcoin and U.S. dollars, Opendoor may partner with a crypto custodian such as Coinbase. However, the company has yet to clarify which specific areas of its operations will adopt cryptocurrency payments or the timeline for rolling out the initiative.

If Opendoor follows through, it would be the company’s first step into the crypto scene. Although Opendoor has not worked directly with cryptocurrencies before, it has leadership experience that could make the transition easier. 

Specifically, the company’s Chief Legal Officer, Sydney Schaub, previously served as Chief Legal Officer at Gemini, one of the largest American crypto exchanges. 

Real Estate and Crypto

Notably, interest in the link between real estate and crypto has been building among industry experts. In August, Eric Jackson, founder of EMJ Capital, urged Opendoor to think creatively about making homeownership more affordable. 

He called attention to Roam, which introduced assumable mortgages and partnered with Lava, a Bitcoin lending platform, to present Bitcoin-backed loans for down payments. 

Jackson noted that Keith Rabois, an Opendoor board member, invested in both companies and clearly believes in their vision. He argued that Opendoor should bring the same level of creativity to its own business to boost growth and reignite its founding spirit.

Myles Snider, Head of Growth at Lava, agreed with Jackson, pointing out that Lava’s partnership with Roam could make home buying more flexible and affordable. 

Specifically, Lava, which recently raised $17.5 million, launched a program that lets customers buy homes without selling their Bitcoin by borrowing against it for down payments at below-market rates.

Real Estate Firms Adopting Bitcoin

Nejatian’s remarks come as more real estate companies continue to adopt Bitcoin and other cryptocurrencies. In July 2025, Christie’s International Real Estate became the first major U.S. brokerage to launch a dedicated crypto division after it began accepting Bitcoin for property sales. 

Meanwhile, in December 2024, La Rosa Holdings Corp. started accepting Bitcoin for agent commissions and client transactions. Earlier this year, Propy introduced Bitcoin- and Ethereum-backed loans for tokenized property purchases using Coinbase for escrow.

Moreover, by June 2025, Cardone Capital added about 1,000 BTC to its treasury and announced plans to buy 3,000 more as part of its broader Bitcoin strategy.

XRP Open Interest Nears $3B as Bulls Look to Get Past $3

Elendu Benedict
-
0
XRP Open Interest Nears $3B as Bulls Look to Get Past $3

XRP open interest has continued to increase, signaling growing leveraged appetite from market traders despite its struggles around the $3 price mark.

Data shows that the value of open futures positions for XRP continues to rise, as new liquidity enters the market. Currently, XRP’s OI nears $3 billion, data from CryptoQuant confirmed on Monday.

XRP Open Interest Shows Leveraged Interest Recording Notable Uptick

The OI rise marks a turnaround from the fading interest recorded towards the end of September. For perspective, the number of open futures positions on XRP dropped to $2.34 billion on September 25, following a downturn in the token’s price.

However, the bright start to the month has rekindled leveraged interest in XRP, as market users look to capitalize on the growing XRP price. Notably, XRP has risen by 9% from the lows of $2.74 at the time to its current price of $2.99, with OI now standing at $2.92 billion.

XRP Open Interest | CryptoQuant
XRP Open Interest | CryptoQuant

Meanwhile, data from Coinglass shows an even larger XRP open interest. It indicates an OI increase to $8.94 billion, also reflecting that XRP is becoming increasingly attractive to traders.

For context, the disparity between the OI on Coinglass and CryptoQuant comes from the extent of their market coverage. The latter accrues data from major crypto exchanges, while the former covers a much broader market scope, including the CME.

Bears Defend Crucial $3 Resistance

At the time of writing, XRP remains around the crucial $3 resistance. The token has attempted to sustainably break above, but bears have pushed prices lower at each attempt.

Interestingly, despite the growing open interest, trading volume has declined by 11% over the past 24 hours to $5.76 billion, indicating weakening market momentum. Unless market conditions change, XRP might continue to struggle to sustain a trend above the $3 mark.

However, optimism remains high that XRP could break above this significant barrier, setting the tone for even higher prices. Analyst CasiTrades predicted a possible retest of the $3.24 if bulls win, opening XRP for a rally to the Wave 3 target of $4.5.

Other analysts have also identified technical indicators that XRP could break out soon. Mikybull shared that XRP is now on the verge of entering its final bullish wave, targeting a new all-time high of $21. However, he noted that the conservative target for this post-breakout target is between $6 and $10.

Analyst Identifies Six XRP Levels of Champion

Sam Wisdom Raphael
-
0
Analyst Identifies Six XRP Levels of Champion

A well-known market technician has identified what he calls six “levels of champion” for XRP, insisting that each is important on the journey up.

Currently, XRP changes hands around the $3 psychological mark, having recovered from a downtrend that pushed its price to $2.69 late last month. Amid the ongoing recovery push, market technician Matt Hughes, who calls himself The Great Mattsby, recently drew attention to important price regions to watch.

First Two XRP Levels of Champion

The analyst called these regions “levels of champion,” representing price targets and areas of resistance that XRP may approach on its path to greater heights. According to Hughes, XRP has six of these levels of champion on the way up. He advised market participants to write them down to keep an eye out.

Notably, the first level of champion is around the lower end of the $3 psychological mark, specifically at $3.10. While XRP currently battles the bears at the $3 mark, Hughes’ chart shows that its next area of interest is the $3.1 champion level. XRP retested this $3.1 level on Oct. 2 amid the ongoing rebound, but faced immediate resistance.

It collapsed to a low of $2.94 two days later, as the broader market’s bullish campaign eased. Today, XRP looks to again recover the $3 mark and set sail toward $3.1. Once it captures this level decisively, the next area of interest is beyond the $4 psychological mark.

XRP Levels of Champion The Great Mattsby
XRP Levels of Champion | The Great Mattsby

Specifically, the second champion level sits at $4.7, representing a new all-time high. For XRP to reach this area, it must first overcome the previous all-time high of $3.66 attained in July, and then decisively surpass the $4 psychological mark. Notably, a run to $4.7 would mark a 56% increase from XRP’s current price.

Next Levels to Watch Out for

After $4.7, XRP’s next important point pushes beyond both the $5 and $6 psychological regions to a price of $6.20. Last October, after XRP dropped on the back of the SEC’s appeal notice in the Ripple case, market analyst EGRAG predicted that XRP’s worst-case scenario would still be a rally to the $6 area. This aligns with Hughes’ third champion level.

Beyond this, three more levels of champions exist on Hughes’ chart. The next rests on the $7.6 price, representing a 153% increase from XRP’s current price. Interestingly, in June 2025, market watcher Crypto Bitlord argued that expecting XRP to reach this $7 level is no longer gambling. He said this due to his unwavering optimism. 

After XRP surpasses $7.6, the next target sits at $9.3, representing the bullish forecast from EGRAG Crypto for XRP in his regression model. Specifically, EGRAG predicted XRP to hit $9.3 within the year using this model. Meanwhile, after $9.3, Hughes’ last level of champion is the $12.3 price, which would mark a 310% rise from current levels.

Expert Says the Longer XRP Consolidates, the Bigger the Expansion

Abdulkarim Abdulwahab
-
0
Expert Says the Longer XRP Consolidates, the Bigger the Expansion

Widely followed trader CryptoWZRD believes that a major move for XRP is imminent as it consolidates near its all-time high.

As the crypto market turns bullish again, XRP continues to trade in a tight range just below its previous all-time high of $3.84, a level it last reached in January 2018. The altcoin has approached this level twice so far this year. It first broke above $3.40 in January and later climbed to $3.66 by July.

Nonetheless, since the July rally, XRP’s momentum has slowed, with the price trading within a range of $2.60 to $3.

“The Longer It Consolidates, the Bigger the Price Expansion”

However, according to analyst CryptoWZRD, this consolidation is setting the stage for a massive breakout. He noted that XRP has been holding its gains for over 300 days, which suggests strong accumulation and resilience against broader market pullbacks.

He believes that the longer XRP consolidates, the larger the eventual breakout.

A closer look at the chart shared by CryptoWZRD reveals a bullish wedge pattern forming near the upper range of XRP’s multi-year structure. This wedge indicates diminishing volatility ahead of a potential breakout.

The analysis also highlights key support zones around $1.90 and $2.50, which previously acted as resistance levels. Currently, with XRP flipping old resistance into support, it’s building a strong foundation for an explosive price move.

CryptoWZRD's XRP chart
CryptoWZRD’s XRP chart

XRP $4.50 “Is Inevitable”

CryptoWZRD believes it’s only a matter of time before XRP conquers the $3.65 resistance level. He noted that once a decisive breakout occurs, the price could quickly surge toward $4.50, calling the target “inevitable.”

XRP is trading at $3 today, and cracking the stubborn $3.65 level requires only a 21.66% gain. From that point, setting a new all-time high at $4.50 would require just a further 23% surge.

Given the relatively small percentage increase needed, CryptoWZRD is confident XRP will reach this price level. For context, XRP boasts a year-to-date gain of 44% and a one-year gain of 463% at its current price.

What Other Analysts Say

Other market watchers also share CryptoWZRD’s perspective about XRP’s next leg. In a recent analysis, analyst Mikybull stated that the market is underestimating XRP’s potential following a major breakout from a months-long falling wedge. At the time, XRP pushed above the $3.10 resistance zone, looking to retest higher levels.

While Mikybull hasn’t set a specific target, other analysts have forecast ambitious highs: Matt Hughes ($8 to $26), EGRAG ($27), and Dustin Layton ($50), all of which imply gains ranging from 3x to 16x.

At the moment, Bitcoin has recently set a new all-time high above $125,000, and attention is gradually shifting to altcoins. Many believe XRP will deliver one of its best performances as seen in its November 2024 performance.

1...496497498...2,634Page 497 of 2,634