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Validator Publishes U.S. GDP Data on XRP Ledger, Explains Why the Government Did Not Pick XRP

Sam Wisdom Raphael
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Validator Publishes U.S. GDP Data on XRP Ledger, Explains Why the Government Did Not Pick XRP

An XRP Ledger (XRPL) validator has shown that the network can easily manage the same task the U.S. Department of Commerce recently carried out on other blockchains.

Vet, an XRPL dUNL validator, showed that publishing official economic data on-chain is possible on the XRPL in a simple and low-cost manner. This has further raised questions about why the U.S. government excluded the XRP Ledger from its recent initiative.

US Commerce Department Adopts Blockchain

For context, the Commerce Department recently announced that it had begun publishing key economic data, starting with GDP figures, directly on public blockchains. 

Officials called the move a proof-of-concept to make government data more transparent and trustworthy. For its trial run, the department released a cryptographic hash of the GDP report across nine blockchains: Bitcoin, Ethereum, Solana, TRON, Stellar, Avalanche, Arbitrum One, Polygon PoS, and Optimism. 

The report also remains available in its usual formats, such as PDFs, but blockchain technology now makes it more secure and immutable. The recent development triggered excitement within crypto circles, as it pointed to growing public adoption of blockchain.

Validator Publishes US GDP Data on the XRPL

However, some XRP proponents noticed that the XRPL was not part of the list, even though it has proven to be a trustworthy destination for low-cost and efficient data storage and transactions. Most insisted that the XRPL could actually handle the task.

Interestingly, to prove that the omission had little to do with capability, Vet recreated the government’s method on XRPL. 

He stored the SHA256 hash of the GDP report in two different ways: once as a memo within a transaction, similar to Bitcoin’s approach, and once inside a non-fungible token (NFT) that included both the hash and a link to the original file. 

According to Vet, the entire process took only seconds and cost less than a penny. He stressed that all of this was done using native XRPL features, without the need for smart contracts.

In response, one proponent asked whether publishing data directly on XRPL would make services like Chainlink or Pyth unnecessary. Vet explained that while anyone can publish the data manually, distributors like Chainlink and Pyth make it more practical. They broadcast information quickly across multiple blockchains, and this ensures broader reach and reliability.

When asked if publishing large amounts of such data on XRPL might eventually slow the network down, Vet noted that memos and NFTs have already proven reliable at scale. 

The dUNL validator pointed out that GDP data only comes out once every quarter, which puts less strain on the network compared to real-time price feeds. He also noted that XRPL Oracles could handle heavier loads if needed, giving the ledger even more room to scale.

Why the Government Sidelined XRPL

Meanwhile, someone suggested that the government chose different chains because of their ability to use smart contracts, which XRPL does not yet support at the base layer. 

Responding, Vet admitted that smart contracts add versatility. However, the Commerce Department also published data on Bitcoin, which has no native smart contracts either. 

Another critic claimed that the government’s decision showed a lack of trust in XRPL. However, Vet disagreed with this suggestion. 

Notably, he explained that the Commerce Department relied on Chainlink and Pyth to distribute the GDP data. Since neither service currently supports XRPL, the ledger was simply not included. Vet claimed the decision had nothing to do with bias and had more to do with availability.

MANYU Holders Bet on Shiba Inu-Style Rally After Vitalik Buterin Sells His MANYU Donations

Lele Jima
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MANYU Holders Bet on Shiba Inu-Style Rally After Vitalik Buterin Sells His MANYU Donations

MANYU (MANYU) community members are hopeful that the token could replicate Shiba Inu’s success, following its recent sale by Ethereum co-founder Vitalik Buterin. 

Yesterday, the Ethereum co-founder sold several crypto assets he received from unsolicited donations from investors and project owners. Notably, the popular meme coin, MANYU, was among the tokens Buterin sold. 

Etherscan data shows that Buterin sold over 2 trillion MANYU tokens, worth roughly $39,484, on CoW Protocol. The sale came less than two months after he received the tokens from MANYU community members in unsolicited donations. 

Vitalik Buterin MANYU transactions
Vitalik Buterin MANYU transactions

Shiba Inu-Style Rally Incoming? 

Buterin’s recent wallet activity, particularly his sale of MANYU, did not go unnoticed by enthusiasts of the token. Interestingly, most users see the sale as a bullish event that could drive MANYU’s value to greater heights. 

Some users referenced how Shiba Inu’s market cap reached billions of dollars after the Ethereum founder offloaded SHIB. Recall that the Shiba Inu’s pseudonymous founder Ryoshi gifted Buterin 50% of the token’s supply (500 trillion SHIB). The donation was part of a broader marketing strategy aimed at attracting investors’ attention to SHIB. 

Shortly after the donation, Buterin burned over 410 trillion SHIB and donated the rest to nonprofits supporting COVID-19 relief efforts. Although the transaction initially resulted in a sharp decline in SHIB’s price, it rebounded, eventually reaching an all-time high five months after Buterin offloaded the tokens. 

In a separate development, the price of the pygmy hippo-inspired meme coin, Moo Deng (MOODENG), also rallied significantly after Buterin sold 10 billion units of the token. Following his recent MANYU sale, X user Diana Sanchez suggested that whenever Buterin sells or disposes of a meme coin, the token eventually becomes legendary. 

Another user, Belen Franchese, speculated that history will definitely repeat itself with MANYU, implying that the token’s price would rally significantly, just like Shiba Inu and MOODENG did in the past. 

MANYU Soars Only 2.51% in 24 Hours 

In the meantime, MANYU is currently up 2.51% over the past 24 hours and is currently trading at $0.00002117 per token. It ranks as the 8,974th cryptocurrency globally with a valuation of $21,170. 

Currently, MANYU has fallen 95.13% from its previous ATH of $0.0004344, recorded on February 18. While meme coins like Shiba Inu and MOODENG rallied significantly after Buterin offloaded them, it remains uncertain whether MANYU will follow the same trajectory. 

Chart Shows Cardano to Hit New All-Time High of $4 by the Year-end Despite Current Dip

Elendu Benedict
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Chart Shows Cardano to Hit New All-Time High of $4 by the Year-end Despite Current Dip

The sentiment that Cardano could still reach a new all-time high this year remains high in the ADA community despite the recent price decline.

For context, Cardano continues to decline alongside the broader market. ADA reverted to the trend after a rally to $1.02 earlier in August, which saw it play contrarian to the bearishness at the time.

With Bitcoin hitting new lows, Cardano has followed suit, dropping 5% in the past 24 hours to its current price of $0.830. As a result of this decline, those who bought ADA at the start of the year are currently unprofitable, with a 3.8% year-to-date loss.

Sentiments of a Cardano New All-Time High Remains Intact

Despite this, investors remain optimistic that Cardano will rebound from recent trends to even greater heights. One of them is Mintern, the self-acclaimed Chief Meme Officer of the Cardano-based decentralized exchange Minswap.

He shared in an August 28 tweet that Cardano would trounce its 2021 peak price of $3.10 to target a new unprecedented price of $4 this year. The bullish outlook suggests that the recent ADA trend is temporary, and prices will regain momentum sooner than many expect.

The account shared a technical analysis of the token to back this claim. The chart indicates that the $4 price mark is one of the Cardano targets if it reclaims the tip of an ascending channel on the 4-day timeframe.

Cardano Analysis/Mintern

For context, ADA currently trends within a rising wedge, a structure it formed from its lows of $0.22 in June 2023. Meanwhile, its last rally to the channel’s upper boundary in December 2024, when it reached $1.32, formed a descending resistance neckline.

Notably, the trendline was responsible for the rejection seen in August 14’s rally to $1.02. As Cardano consolidates following the rejection, the chart highlights that its next support lies around the channel’s lower boundary, slightly below the 0.50 Fibonacci retracement at $0.5424.

Cardano to $4.14 This Year

According to the analysis, Cardano is expected to rally to $4.14 by the end of this year, aligning with the upper trendline of the ascending wedge. From the current market price of $0.830, the rally to the new all-time high represents a 399% growth.

Notably, the target aligns with the 2.00 Fibonacci extension in the accompanying chart. Before the price mark, the analysis highlighted prior targets, including $1.47, $1.79, $2.47, and $3.10. However, ADA needs to stay above the support level at $0.51 to keep the prospect of a price increase alive.

Interestingly, some members of the Cardano community expect higher prices. In response to Minterm’s post, proponent Rulo believes that ADA will rise much higher to $10 this year. He shares this sentiment with several other market analysts, including Cardano permabull Dan Gambardello and stake pool operator Ssebi.

Brazil’s Braza Bank Completed $1B in Stablecoin Payments on the XRP Ledger

Abdulkarim Abdulwahab
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Brazil’s Braza Bank Completed $1B in Stablecoin Payments on the XRP Ledger

The Brazilian Real stablecoin BBRL, issued by Braza Bank on the XRP Ledger (XRPL), reportedly processed $1 billion in customer payments during Q3 2025.

Notably, the achievement was highlighted by Stake City founder Luke Judges on X on Thursday. He noted that the growth shows how XRPL-based assets are addressing real-world challenges for financial institutions.

$1B in Stablecoin Payments Using BBRL on XRP Ledger

While Judges did not share a source confirming that Braza Bank processed $1 billion in stablecoin payments on XRPL in Q3, the claim largely aligns with figures Ripple reported in an official statement in May.

Notably, Ripple’s statement announced Braza Bank’s further stablecoin expansion on XRPL, which included the launch of USDB. In the announcement, Ripple stated that Braza processed $1.079 billion (nearly BRL 6 billion) in a single day this April.

BBRL is part of Braza Group’s broader strategy to integrate traditional finance with blockchain infrastructure. The coin launched earlier in 2025. Shortly after, the bank also introduced USDB, a dollar-pegged stablecoin backed by U.S. and Brazilian government bonds.

Both stablecoins are on XRPL. It gives Braza a scalable framework to support cross-border transactions, mass payouts, and settlements for businesses.

In July, Braza Bank minted over $4.2 million in BBRL. This further confirms increased use of the XRP Ledger for cross-border payments and real-world asset settlements.

$4.2 million BBRL Minted on XRP Ledger
$4.2 million BBRL Minted on XRP Ledger

Notably, the bank reported a balance sheet of more than $500 million as of 2024 and ranks sixth in Brazil’s interbank market.

Euro Stablecoin on the Horizon

Meanwhile, Judges also revealed that Braza has a “line of sight” to a euro-denominated stablecoin, which he believes could achieve similar transaction volumes soon. This suggests the bank is preparing to expand its offering beyond the Brazilian Real and U.S. Dollar.

Such a move would position Braza to manage BRL, USD, and EUR stablecoins simultaneously on the XRPL. This will establish a robust on-chain infrastructure for global currency flows.

Ripple’s Role in Brazil’s Stablecoin Push

Ripple executives have emphasized the XRPL’s role in enabling compliant, reliable, and efficient tokenization at scale. According to Ripple’s LATAM Managing Director Silvio Pegado, the ledger’s features are designed to support regulated financial institutions like Braza as they move billions across borders.

The partnership forms part of an effort to modernize Brazil’s financial system. Braza is also participating in the Brazilian Central Bank’s DREX project, which explores integrating blockchain with traditional banking infrastructure.

Braza Bank’s Outlook for 2025 and Beyond

Notably, Braza CEO Marcelo Sacomori has projected that USDB could capture 30% of Brazil’s USD-pegged stablecoin market by 2026. Sacomori believes stablecoins will dominate global foreign exchange within five years, with Braza positioning itself to lead the transition.

Shiba Inu Team Predicts SHIB Will Surpass $0.00008845, Says Price Is Temporary but Adoption Is Forever

Lele Jima
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Shiba Inu Team Predicts SHIB Will Surpass $0.00008845, Says Price Is Temporary but Adoption Is Forever

Lucie, the specialist in charge of marketing in the Shiba Inu ecosystem, has reassured investors that SHIB is positioned to surpass its previous all-time high (ATH). 

This assurance came shortly after SHIB’s price tumbled below $0.00001250 yesterday. The latest decline is part of a broader market downturn that has negatively impacted the token’s price over the past week. 

SHIB Will Reclaim and Surpass Previous ATH 

With many investors troubled by Shiba Inu’s latest performance, Lucie reassured them about a potential rally that could drive the asset to new highs. She acknowledged that Shiba Inu’s adoption is increasing “despite the noise.” 

One example of this adoption is Valour Inc.’s launch of a Shiba Inu exchange-traded product (ETP). The initiative provides traditional and institutional investors with regulated exposure to SHIB.  

Amid the growing adoption, which Lucie sees as the true driver of lasting value, she expressed confidence that SHIB will reclaim and surpass its previous ATH of $0.00008845.

To surpass the previous ATH, Shiba Inu’s price must surge by 618% from the current price of $0.00001253. However, she did not set a timeline for when the prediction would materialize. 

A Celebratory Moment  

Following her bold forecast about Shiba Inu, Lucie highlighted yesterday as a symbolic moment for the community, which she believes is worth celebrating despite the bearish price movements. 

The marketing lead emphasized that while price is temporary, adoption is forever. This implies that although Shiba Inu’s price may fluctuate, SHIB’s lasting value stems from widespread adoption. 

Over the years, Lucie has consistently encouraged investors to look past short-term price swings and focus instead on Shiba Inu’s long-term potential. 

Past Shiba Inu Prediction 

Meanwhile, the Shiba Inu marketing lead is not new to issuing bullish predictions for SHIB. She believes that Shiba Inu’s price will eventually reach the highly anticipated one-cent target of $0.01. However, Lucie has often reiterated that it would take time for the prediction to come to fruition. 

She also shared ChatGPT’s take on Shiba Inu’s prospects, which affirms that SHIB is capable of reaching the ambitious $1 price milestone. The AI model indicated that the $1 prediction is a challenge for the broader Shiba Inu community but should not be dismissed as a joke. 

In May, Lucie forecasted that Shiba Inu’s price would spike 1,000% within three days. However, her May prediction did not materialize, highlighting the importance of approaching bold forecasts with caution. 

Over 51,000 Wallets Lost $74.8M in Kanye West’s YZY Celebrity Memecoin Crash

Elendu Benedict
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Over 51,000 Wallets Lost $74.8M in Kanye West’s YZY Celebrity Memecoin Crash

Recent data has shown that over 73% of traders suffered losses following Kanye West’s Solana-based YZY memecoin’s 81% crash.

It’s been a little over a week since Kanye West launched his celebrity memecoin, and the token has already lost a staggering 83% of its value. The token, promoted on the American rapper’s X account on August 20, quickly gained traction, surging to an all-time high of $3.16 in 24 hours.

Expectedly, the token came crashing after the high, leaving profit-hungry retail traders in the dust again. At the time of writing, YZY is trading at $0.5305, extending its losses over the past 24 hours by 3.76%.

Meanwhile, analytical platform Bubblemaps has released a detailed breakdown of the token trades, highlighting total profits and losses.

YZY Memecoin Numbers Worse Than Expected: Bubblemaps

The report outlined that a total of 70,201 traders bought into the celebrity memecoin, FOMOing into its widespread hype. However, a majority of them, totaling 51,862 wallets, lost money. This represents 73.87% of those who bought Kanye West’s YZY token.

A detailed breakdown of these numbers reveals that three wallets lost over $1 million, 5,269 wallets lost over $1,000, 1,025 wallets lost over $10,000, and 108 wallets lost over $100,000. Overall, the total losses across these 51,862 addresses hit $74.8 million.

On the contrary, 18,333 wallets profited from the token, realizing a total of $66.6 million. Notably, over 15,000 wallets, or 82% of these addresses, made less than $1,000. Meanwhile, just 11 wallets made over $1 million, indicating that 28% of the profits were concentrated in these few wallets.

YZY Token Count | Bubblemaps
YZY Token Profit and Loss| Bubblemaps

The Crypto Basic had earlier reported on insider trading activities, with several wallets purchasing the token before its public launch. Some of their gains exceeded millions of dollars, suggesting that a considerable part of the 11 wallets with over $1 million were insiders.

One of Many Celebrity Token Bursts

The YZY token debacle is one of recent cases of celebrity memecoin failures recorded in the crypto ecosystem of late, most of which have seen investors lose funds. Social media accounts of celebrities and prominent figures have promoted meme coins in the past—with some claiming they were hacked—and in most cases, the tokens have lost over 90% of their value.

One of the most recent events involves the LIBRA token and Argentine President Javier Milei. Others include Sydney Sweeney’s SWEENEY token and Hulk Hogan’s HULK memecoin.

Meanwhile, Bubblemaps had earlier warned of the YZY token before its crash, as over 70% of the token’s supply was held among a few wallets. The platform also claimed that Hayden Davis, who was heavily involved in the LIBRA token fallout, made $12 million from Kanye West’s token.

Raoul Pal Says XRP Is About to Full Port to Higher Levels

Sam Wisdom Raphael
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Raoul Pal Says XRP Is About to Full Port to Higher Levels

Raoul Pal, the CEO of Global Macro Investor, believes altcoins like XRP are about to enter a new growth phase as money starts rotating out of Bitcoin. 

In his latest market update, he described the crypto market as a “waiting room,” with different assets preparing to launch at different times. 

He said Ethereum has already moved out of the waiting room and entered its growth or “full port” phase. For context, ETH is up nearly 70% since July, having recently claimed a new ATH before retracing slightly. Meanwhile, Pal said Solana is next to leave the waiting, while Sui will follow after Solana.

XRP in the Full Port Process

The market analyst then turned to XRP, which is down 3.98% this month. He argued that XRP is no longer waiting but is now in the process of “full porting” into higher levels. Notably, XRP’s recent price struggles follow an impressive 35% rally in July 2025.

Pal’s comments come as Bitcoin recently surged to a new ATH above $124,000 before pulling back. This retracement shifted attention toward altcoins, a familiar pattern in previous cycles. 

As capital flows away from Bitcoin, investors often look for opportunities in other tokens, triggering what the market calls altcoin season. Pal sees XRP as one of the beneficiaries of this rotation.

He shared a long-term XRP 1-week chart that tracks price history since 2014. The chart highlights a recurring cycle featuring long periods of consolidation inside triangles and wedges that eventually lead to explosive breakouts. 

The first of these came between 2014 and early 2017, when XRP traded inside a large descending triangle. Price compressed for nearly three years before breaking out, which led to the historic rally into the $3.3 peak in January 2018.

XRP 1W Chart Raoul Pal
XRP 1W Chart | Raoul Pal

After the top, XRP entered a deep correction that lasted until mid-2020. During this time, the price slid lower inside a falling wedge, a pattern that often marks the end of a downtrend. True to form, XRP broke out of the wedge in late 2020 and climbed into 2021, reaching $1.96 by April.

Could XRP Record Another Breakout?

Notably, another consolidation followed, this time in the form of a broad descending triangle that stretched from 2021 until late 2024. Once again, XRP broke upward in November 2024 and quickly revalued higher, breaching the $1, $2, and $3 psychological levels.

Today, XRP trades just under $3 and has formed a smaller triangular pattern since its late-2024 breakout. For context, this tight structure looks like a pennant, which often signals a continuation of the trend. 

If XRP pushes above the upper boundary, it would confirm that the breakout is still unfolding and that the token is indeed entering the “full port” stage Pal described. However, a failure to hold the structure could send prices back toward the earlier breakout zone around $1.7 to $2.

Broader Market Context

Meanwhile, speaking further, Pal highlighted Bitcoin’s long-term correlation with global money supply growth, particularly the M2 measure, which tracks cash and liquid assets in circulation. 

Historically, Bitcoin has followed M2 with a lag of about twelve weeks. Specifically, as global liquidity expands, money flows first into Bitcoin and then into altcoins like XRP. Pal suggested that investors should focus on the broader pattern instead of expecting perfect short-term timing.

He also stressed that the global liquidity backdrop looks stronger than ever. The United States, China, Japan, and Europe all need to roll over large amounts of debt, which means central banks must keep liquidity flowing. 

In addition, he says regulatory improvements, sovereign accumulation of crypto, and Wall Street’s growing acceptance of digital assets will create what he calls an environment similar to 2017, when the last major altcoin boom unfolded.

The market veteran believes the crypto cycle has more room to run. His research at Global Macro Investor suggests the bull market could extend into early or even mid-2026. 

He explained that a slowing global business cycle will likely force policymakers to maintain loose conditions for longer, prolonging the flow of capital into risk assets. He believes the growth phase of this cycle, which he calls the banana zone, already began in August 2024, and the pace will increase from here.

Valour Launches New Shiba Inu ETP in Europe 

Lele Jima
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Valour Launches New Shiba Inu ETP in Europe 

Leading ETP issuer Valour Inc. has launched a new SEK-denominated exchange-traded product (ETP) tied to Shiba Inu on Sweden’s Spotlight Stock Market. 

Shiba Inu was among the eight new SEK-denominated ETPs launched by Valour on the Spotlight trading platform this week. 

Other supported assets include Pi, Ondo, Cronos, Mantle, Vechain, Ethena, and Celestia. These eight ETPs give investors regulated exposure to the underlying tokens, including Shiba Inu. 

Features of Valour SHIB ETP 

Specifically, European investors, particularly those residing in Sweden, Denmark, Norway, and Finland, can gain exposure to Shiba Inu via their normal brokerage accounts on Avanza and Nordnet. 

The process eliminates the hassles of directly purchasing SHIB from a crypto exchange and storing the asset. While the product does not provide investors with direct ownership of SHIB, it is structured to mirror Shiba Inu’s price performance. 

The offering also lowers the barrier for traditional and institutional investors to join the Shiba Inu ecosystem. The good news is that they can gain exposure to the underlying token through a familiar trading environment, without needing crypto-specific infrastructure. 

Similar to other Valour’s offerings, the Shiba Inu ETP comes with a management fee of 1.9%. 

Shiba Inu Team Reacts 

Members of the Shiba Inu community have celebrated the launch of a new investment product tied to SHIB. Lucie, the head of marketing of the Shiba Inu project, highlighted the latest development on X. 

Lucie noted that the Valour SHIB ETP is another step into mainstream adoption. Such a product helps bring Shiba Inu closer to the realm of traditional finance, not just in the crypto world. 

It could also draw institutional investors to SHIB, a key element that has largely been missing since the token’s launch in August 2020. Although Shiba Inu has achieved notable milestones over the years, much of its success has been fueled by retail investors. 

The community has long awaited the entry of institutional investors into the ecosystem and has even urged top asset managers to launch SHIB-focused investment products.

For instance, they petitioned Grayscale Investments to launch a spot SHIB ETF in the United States. While the asset manager has ignored these demands, the community still believes SHIB will eventually get a spot ETF someday. 

Here’s The XRP Price if Elon Musk Starts Promoting XRP Like Dogecoin

Sam Wisdom Raphael
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Here’s The XRP Price if Elon Musk Starts Promoting XRP Like Dogecoin

What could XRP price climb to if Tesla CEO Elon Musk began promoting it like he has done with Dogecoin?

Elon Musk has shown time and again that his words alone can move markets, especially in the crypto scene. Notably, few coins illustrate this better than Dogecoin. 

What started as an internet joke exploded into one of the most recognized crypto assets globally, largely because Musk kept drawing attention to it. Looking at Dogecoin’s history, it’s worth asking: what would happen if Musk gave XRP the same kind of spotlight?

Musk’s Dogecoin Mentions and Price Impact

For context, Musk first mentioned Dogecoin in April 2019, and the meme coin doubled in value in just three days, jumping 95% to $0.00408. From then on, his tweets continued to trigger wild swings. 

In December 2020, a single short post from Musk pushed the price up 20% within hours. Two months later, in February 2021, he called Dogecoin the “people’s crypto,” which sent the price soaring 40% overnight as trading activity surged.

Meanwhile, the real frenzy came in April 2021. Musk tweeted that Dogecoin was “barking at the moon,” and the coin soared, bolstered by the crypto bull run that year. Interestingly, its price rose to an all-time high of $0.73. This marked a gain of over 12,000% from January 2021, when DOGE traded for just $0.006. 

In January 2022, Musk revealed that Tesla would accept Dogecoin for merchandise, and the price instantly jumped 15% in a single day. In March 2023, he swapped out Twitter’s logo for the Dogecoin mascot, sending DOGE 30% higher almost immediately. 

More recently, his involvement in the Department of Government Efficiency (DOGE) in late 2024 and its launch in early 2025 drove Dogecoin up again, although the excitement faded soon after.

Meanwhile, XRP has seen steady but less dramatic growth. In April 2019, XRP traded at $0.30. Today, it trades for around $3.00, a 920% gain. Dogecoin, on the other hand, has soared from $0.00408 to $0.2388 in the same period, a staggering 5,752% climb. 

XRP Price if Elon Musk Started Promoting It

Interestingly, Musk has always avoided mentioning XRP. However, what if he gave it the same level of attention as Dogecoin? Notably, in such a scenario, while the price reaction would have been positive, the actual impact remains uncertain.

As a result, we posed the question to Google Gemini. According to the chatbot, if Musk started promoting XRP today at its current price of $3.00 and the coin experienced the same percentage gain that Dogecoin did, XRP could climb as high as $175.92.

XRP Price if Elon Musk Began Promoting it Like Dogecoin Google Gemini
XRP Price if Elon Musk Began Promoting It Like Dogecoin | Google Gemini

Gemini clarified that this scenario is purely speculative. The crypto market is much more complex than a simple formula, and several other forces could shape XRP’s future. For one, Ripple’s battle with the U.S. SEC has finally moved toward resolution, giving XRP much-needed regulatory clarity. 

With that cloud lifting, banks and institutions could start adopting XRP more widely for cross-border payments. Gemini also pointed out that the next bull run could play a big role. If Bitcoin and Ethereum rally strongly, altcoins like XRP usually follow.

Moreover, XRP boasts a unique position as a utility token for cross-border payments, unlike Dogecoin. As a result, Musk’s promotion could lead to greater adoption in payment corridors, further boosting the price.

R-Squared Value of XRP Shows Next Target Could be Epic

Sam Wisdom Raphael
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0
R-Squared Value of XRP Shows Next Target Could be Epic

A well-known market analyst has insisted that the next XRP target will be epic, as XRP continues to follow his bullish structure.

This disclosure came from EGRAG Crypto, which has persistently suggested that XRP still has more room to grow in this cycle. In his latest market commentary, EGRAG reiterated this stance, calling the investing community’s attention to the R-squared value for XRP in relation to a previously highlighted regression model.

The XRP R-Squared Value Around Its Regression Model

For the uninitiated, the regression model EGRAG used is a method that helps track and predict XRP price movements over time. Essentially, it maps XRP’s past prices on a log scale and produces a trend line with upper and lower bands (set by standard deviations) that present the most likely price ranges moving forward.

Meanwhile, the R-squared value shows how well this regression model matches the real price data. It indicates how much of the price movement can be explained by the model rather than by random chance. 

Notably, a higher R-squared, closer to 1, means the model does a good job of capturing the actual trend, showing high correlation. Meanwhile, a lower value, closer to 0, means the model isn’t very reliable in explaining what’s happening with the price. This indicates low correlation between the model and actual price action.

XRP R Squared Value EGRAG Crypto
XRP R Squared Value | EGRAG Crypto

EGRAG has confirmed that the R-squared value currently sits at 0.84754, which means the model explains about 85% of XRP’s price movements. This is important because it confirms that XRP is following this regression model closely, making its price action highly predictable by using the model.

What XRP Target Does the Model Predict?

Interestingly, the regression model predicts some bullish price action for XRP in the near future. EGRAG highlighted this in a previous market report, revealing that XRP has the potential to reach one of three targets depending on how it interacts with the upper regression line.

Currently, XRP trades slightly above the mid-line, and a push to the upper line could take XRP to a price of $18, $27, or $200. Specifically, if XRP misses the top regression line by 45% as it did in April 2021, its top price would only sit around $18. 

However, if it perfectly hits the top line as it did in December 2013, May 2017, and September 2018, the price would sit at $27. Meanwhile, an overshoot over the top regression line, similar to what happened in January 2018, would push the XRP price to an ambitious $200. As a result, EGRAG insists the next XRP target would be epic.

This indicates that any of the three outcomes would still bode well for XRP, resulting in a 514% to 6,725% uptick from the current price of $2.93. However, EGRAG’s most referenced XRP target is the $27 price, which the analyst has consistently championed over multiple analyses. For context, XRP would need to rise 821% to hit the $27 target.

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