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Ripple CEO Says Ripple Will Rewire the Entire Banking System

Mark Brennan
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Ripple CEO Says Ripple Will Rewire the Entire Banking System

Ripple CEO Brad Garlinghouse has urged the XRP ecosystem to focus on the big picture rather than engaging in an unreasonable rivalry with Bitcoin.

Ripple is building a transformative ecosystem, and Garlinghouse is stressing collaboration rather than competition. In his speech at the recently concluded XRP Las Vegas conference, he noted that Ripple is building an ecosystem that will transform the entire banking system, which should be a delight to the community.

“We Underestimate How Big That Is”: Ripple CEO

Ripple modeled its business to bridge the gap between the global financial institutions and blockchain technology. While the nascent industry focuses on removing monetary centralization and control tied to banks, Ripple’s innovation lies in involving them in the future of finance.

The private firm aims to innovate cross-border payments by bringing them on-chain, thereby making remittance seamless and efficient. This eradicates the need for intermediaries, pre-funding, and slow global fund transfer.

Citing the company’s CTO David Schwartz, Garlinghouse noted that this ploy would “rewire the entire banking system,” making Ripple a giant in the cross-border payment and remittance business.

Remarkably, this initiative should be sufficient to drive XRP adoption, and the CEO emphasized that it should be a big enough appeal to the ecosystem’s enthusiasts.

“We underestimate how big that change is and how profound it is,” the Ripple CEO said, stressing that it would all make sense if the community looks back in 10 to 20 years from now.

Nonetheless, prominent XRP community figure Vale has suggested that it would not take up to ten years before this revolution comes to full effect. In a tweet, he argued that Ripple is already changing the global financial system NOW.

Indeed, Ripple has made considerable progress in pushing its business mainstream, so much so that the US Faster Payment Council (FPC) mentioned them as a crucial firm that would drive a swift, cheap, and transparent cross-border payment system. Morgan Stanley has also identified the fintech as a strong competitor for SWIFT, which handles over $5 trillion in daily transactions.

Collaboration Over Competition

Meanwhile, Garlinghouse called for collaboration with not just the Bitcoin ecosystem but the entire crypto landscape. Notably, he is already putting his words into action with a teased partnership between Ripple and Cardano.

The CEO stated that blockchain technology is not a zero-sum game and XRP would thrive even if Bitcoin does. He stressed growing the whole pie and ensuring that cryptocurrencies gain the mainstream adoption that they deserve.

“…and we get there by being collaborative and working together and not against each other,” he added.

Interestingly, Garlinghouse has repeatedly stressed that Bitcoin is not XRP’s enemy. For the uninitiated, he donated the Skull of Satoshi to proponents of the leading cryptocurrency as a peace offering for the long-standing feud between the two communities.

Bitwise CIO Applauds XRP, Says Its Community Is Strong

Lele Jima
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Bitwise CIO Applauds XRP, Says Its Community Is Strong

Matt Hougan, the CIO of leading crypto asset manager Bitwise, recently praised XRP and emphasized the strength of its community.

Hougan shared his views following his appearance at the recently concluded XRP Las Vegas event, where he delivered a keynote address. He later posted photos of attendees from the event.

High Attendance at XRP Las Vegas 

According to Hougan, the conference venue was packed with 1,000 people at 1 p.m. (ET) on a Saturday. Typically, events scheduled during early Saturday afternoons tend to draw smaller crowds.

However, Hougan expressed admiration that the XRP Las Vegas venue attracted such a large audience at that time.

Bitcoin and XRP Not in Competition 

When asked about key takeaways from the conference, the Bitwise CIO noted that crypto enthusiasts are increasingly recognizing that Bitcoin and XRP are not direct competitors.

According to him, people are now embracing the idea that both XRP and Bitcoin serve different markets and that the growth of one does not disrupt the other. 

For perspective, while Bitcoin has earned a reputation in the financial world as a store-of-value asset akin to gold, XRP is recognized for its utility in facilitating cross-border settlements. 

Because these assets fulfill different roles, Hougan believes the success of one does not threaten the mission of the other.

XRP’s Community is Strong 

Hougan also underscored the strength of the XRP community, describing it as a vital pillar for any successful crypto project. The XRP community comprises developers, holders, and advocates who rally behind the coin and promote its adoption. 

This vibrant community has remained active across social media platforms, pushing for broader adoption through initiatives related to real-world payments, cross-border remittances, and U.S. digital asset stockpile. 

Interestingly, XRP’s community also played a significant role in Ripple’s victory against the U.S. SEC in 2023. Recall that Judge Analisa Torres referenced affidavits from XRP holders–compiled and filed by attorney John Deaton–to declare that Ripple’s programmatic sales on digital exchanges did not constitute securities. 

Following this decision, several U.S.-based crypto exchanges, including Kraken and Coinbase, re-listed XRP for trading.

Meanwhile, Hougan has been bullish on XRP since Bitwise filed with the U.S. SEC to launch an ETF tied to the coin. In October 2024, Bitwise became the first asset manager to submit an XRP ETF application with the SEC. 

Months after the filing, Hougan said on live TV that there is strong demand for XRP spot ETFs. While the SEC has not approved any spot XRP ETF for launch, many are confident that the product will debut later this year. 

Dogecoin Holds Above $0.18, Analyst Predicts 2x Rally Ahead

Mark Brennan
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Dogecoin Holds Above $0.18, Analyst Predicts 2x Rally Ahead

Dogecoin is holding near the $0.1869 support level. Will a bounce trigger a breakout rally toward $0.50, or will DOGE fall to $0.14? A trader eyes a potential 2x breakout rally.

As the crypto market sees top altcoins in a weak position, Dogecoin is trading at $0.19. Last week, the largest meme coin fell by nearly 14%, extending its intraday decline to $0.1869. Dogecoin is expected to sustain support at the crucial 23.60% Fibonacci retracement level of $0.1869.

Dogecoin Analysis

On the daily chart, Dogecoin’s price action shows a bullish failure to surpass a long-standing resistance trendline near the 50% Fibonacci level at the psychological mark of $0.25. With a bearish reversal, Dogecoin has breached the 200-day, 100-day, and 50-day EMAs to test the 23.60% Fibonacci level at $0.1869.

Dogecoin Price Chart
Dogecoin Price Chart

With a couple of long-tailed Doge candles appearing over the weekend, the meme coin has managed to stay above the support level. However, the MACD and signal lines have formed a bearish crossover and are approaching the center line, indicating growing bearish momentum.

As the MACD and signal lines continue to decline, the likelihood of a steeper correction in Dogecoin increases. Furthermore, the downward movement in the 50- and 100-day EMAs has delayed the possibility of a bullish crossover that could signal a trend reversal.

A potential cup-and-handle pattern remains in play for Dogecoin if it rebounds from the 23.60% Fibonacci level. To re-test the resistance near the $0.25 supply zone, the meme coin must break above the long-standing resistance trendline. Doing so would increase the probability of a breakout rally, potentially targeting the 78.60% Fibonacci level at $0.3618.

On the other hand, a daily close below $0.1869 would likely extend the decline toward the $0.14 support level.

Neutral Grounds in Derivatives Market 

Despite Dogecoin’s short-term pullback, the derivatives market remains neutral on the meme coin. DOGE open interest has remained relatively unchanged at $2.05 billion, while the long-to-short ratio at 0.9972 is nearly balanced.

DOGE Derivatives
DOGE Derivatives

However, liquidation data suggests a slight bearish tilt, with long liquidations rising to $2.44 million, compared to $1.77 million in short liquidations. Despite a larger wipeout of bullish-aligned traders, ongoing trading activity indicates a mildly bullish bias.

This is supported by the funding rate spiking to 0.0069%, reflecting optimism among Dogecoin traders. This increases the likelihood of a leverage-driven recovery that could complete a bullish pattern.

Analyst Predicts 2x rally in DOGE

Adding to the bullish outlook, crypto analyst Tardigrade has highlighted the potential for a new bull run in Dogecoin. The analyst points to a breakout from a base-three pattern within a step-like parabolic curve formation.

At the end of the third base, the analyst predicts Dogecoin could deliver a 2x return, potentially surpassing the $0.50 psychological level.

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Ethereum Forms Cup-and-Handle: Will ETH Rally Above $3,000?

Albert Brown
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Ethereum Forms Cup-and-Handle: Will ETH Rally Above $3,000?

Ethereum is forming a bullish cup-and-handle pattern above its 200-day EMA as it trades around $2,509. Will ETH break out above $3,000?

Ethereum continues to consolidate within a range, maintaining dominance above its 200-day EMA at $2,457. As ETH’s consolidation persists, a bullish cup-and-handle pattern is emerging on the daily chart. Will Ethereum break out of the pattern for an extended rally?

Ethereum Price Analysis

On the daily chart, Ethereum displays a rounding-bottom reversal between February and May, with the neckline aligning with the 61.80% Fibonacci level at $2,712. Currently, Ethereum is moving sideways just below this neckline, supported by the 200-day EMA at $2,457.

Ethereum price chart
Ethereum price chart

The sideways movement and U-shaped reversal complete the rounding-bottom pattern on the daily chart. Furthermore, the reversal has resulted in a bullish crossover between the 50-day and 100-day EMA lines, signaling a potential short-term trend reversal and increasing the chances of a breakout.

At present, Ethereum is trading at $2,509, near the lower boundary of the pattern and the 200-day EMA, while the RSI line continues to decline. This indicates weakening momentum and a hidden bearish divergence, suggesting the possibility of a breakdown.

In such a scenario, the immediate support lies at the 50% Fibonacci level at $2,386, followed by the 38.20% level at $2,098. However, if the broader market recovers, a bullish breakout from the pattern is possible. This could trigger an uptrend toward the 78.60% Fibonacci level at $3,255.

Optimistically, a confirmed breakout could extend the rally toward the 100% Fibonacci level at $4,108.

Derivatives Market Remains Hopeful 

Despite the hidden bearish divergence in the RSI hinting at a potential pullback, the bullish chart pattern has sparked increased optimism in the derivatives market. Ethereum open interest has risen by 2.52%, reaching $34.65 billion, with a slightly elevated funding rate of 0.0046%.

Ethereum Derivatives
Ethereum Derivatives

This suggests growing bullish activity in the market. However, long liquidations have climbed to $25 million over the past 24 hours, while short liquidations remain lower at $15.66 million.

Currently, the long-to-short ratio over the past 24 hours stands at 0.9767, indicating a slight bearish bias in the market.

Stanford PhD Holder Predicts Bitcoin ATH This Week

Mark Brennan
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Stanford PhD Holder Predicts Bitcoin ATH This Week

Bitcoin faces bearish pressure, yet market analysts have continued to present bold all-time high predictions.

Notably, Bitcoin’s price action over the past week showed signs of short-term weakness, dropping from just under $110,000 to a low near $103,000. It later saw a slight recovery to around $105,000. Amid this pullback, industry watchers have laid out bold forecasts for Bitcoin’s medium- and long-term trajectories.

Fred Krueger Outlines Speculative Timeline 

Amid the market downturn, Fred Krueger, a prominent mathematician and analyst who holds a Standford PhD, maintained an assertive stance on Bitcoin’s outlook. On X, where he holds over 163,000 followers, he predicted that Bitcoin could reach an all-time high within the week. 

This followed his earlier April estimate that placed a 77% probability on Bitcoin reaching a new ATH in 2025.

Recall, Krueger previously detailed a speculative projection titled “The Final Run,” which he believes could drive Bitcoin toward a $600,000 valuation. According to his outline, the scenario begins on July 21, 2025, with a $200 billion U.S. Treasury auction failing to secure buyers. 

This, he suggests, would spark a broader confidence crisis in the U.S. dollar. Following this, BRICS nations are expected to introduce a payment system settled in Bitcoin and gold. By August, countries such as Nigeria, Turkey and Venezuela could reportedly shift a portion of their foreign reserves into Bitcoin.

Krueger further anticipates that Treasury yields may surge above 8.5% in September, coinciding with a projected 35% collapse in U.S. real estate prices within a three-week period.

During this phase, major tech companies are also expected to integrate Bitcoin into their financial systems. All events, according to his scenario, culminate in an October summit modeled after Bretton Woods, where the U.S. could propose a partial Bitcoin and gold backing for the dollar.

Bitcoin Hits a Record Close

While Krueger’s roadmap remains speculative, Bitcoin recently recorded its highest monthly close at $104,591. This price milestone signals increased institutional and retail interest, as well as strong support at higher valuation levels. 

It also indicates that investor sentiment around Bitcoin remains active despite recent volatility. As of this press, Bitcoin is trading at $105,475.

Bitcoin’s Role in Future Finance

Elsewhere, Cardano founder Charles Hoskinson, speaking at a Bitcoin conference, outlined his perspective on Bitcoin’s long-term market value and ecosystem growth. He projected a potential future valuation between $250,000 and $500,000, within a broader $10 trillion Bitcoin economy.

Hoskinson emphasized Bitcoin’s foundational principles—exclusive use of BTC for transactions, fees, and yield—as essential constraints that limit current DeFi integration.

However, he pointed to ongoing development efforts, including modular wallet infrastructure and enhanced smart contract tools, as ways to enable DeFi features while preserving Bitcoin’s core standards.

He referenced work from infrastructure teams such as Sergey Lerner’s group, Sundial, and the Bitcoin Operating System. In particular, Hoskinson discussed wallet innovations designed to allow users to switch between standard and DeFi modes. These developments aim to support new use cases without compromising Bitcoin’s underlying design.

Here’s the Timeline an Expert Believes Bitcoin Will Reach $175,000

Elendu Benedict
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0
Here’s the Timeline an Expert Believes Bitcoin Will Reach $175,000

A prominent market analyst has released an updated price outlook for Bitcoin, analyzing current trends and the timeline for the asset to rise 66% to a new ATH.

Bitcoin recently posted its first red weekly close in eight weeks, as bullish momentum temporarily lost steam last week. The premier crypto asset’s parabolic expansion dates back to early April, when it rebounded from a November low of $74,508, surging 50.3% from the low to its all-time high of $111,980.

However, bears won last week, as Bitcoin corrected 3% from its opening price of $109,004. Nonetheless, bulls have shown aggression in the past two days, spurring consecutive uptrend days, with a combined 1.58% rebound.

Analyst Shares What’s Next

Market expert Egrag Crypto shared an update on Bitcoin’s recent price action and future trajectory in a June 1 X post. He predicted the asset’s short-term possible price development and the timeline for it to rally to $175,000, a 66% increase from the current price of $105,308.

For context, an accompanying chart shows that Bitcoin has been in a corrective phase since its December peak of $108,353. Despite its January rally to $109,588, the asset showed weakness, dumping to its April low.

Bitcoin Analysis/Egrag

Essentially, Bitcoin remains within the area Egrag identified as the “corrective” range, and he has highlighted its next course of action. The watcher predicted an ABC correction for BTC, potentially pushing prices below $100,000.

However, he noted it would be a struggle below the price mark with bullish momentum following the dump. From there, the analyst predicts a rally to finally break free from the corrective block and reach either his lower or upper boundary target.

Furthermore, he highlighted another catalyst for his projected rally in a parallel tweet. Egrag identified a possible crossover on the monthly Stochastic Relative Strength Index (RSI), an event with the history of sparking a massive Bitcoin rally.

The market watcher noted that the last two crossovers in the timeframe, seen in 2013 and 2021, were accompanied by a sharp Bitcoin surge and suggested that history may repeat.

Possible Stochastic RSI Crossover | Egrag

Target and Timeline

Egrag shared that Bitcoin would rally to a price range between $145,000 and $175,000. Remarkably, both are unprecedented prices for the crypto leader, culminating in 37% and 66% growth from the current market price.

Interestingly, he insisted that Bitcoin would reach the upper boundary of his target, specifically setting September as the timeline for the 66% rally. Furthermore, he encouraged profit-taking as the asset would correct extensively in 2026.

Meanwhile, the target aligns with predictions from Robert Kiyosaki, who forecasts that BTC would trend between $175,000 and $350,000 this year, with a particular focus on $200,000. Asset manager VanEck predicts a slightly higher price at $180,000.

Bitcoin trades at $105,308 at the time of writing.

X Launches Xchat With Bitcoin-Style Encryption

Albert Brown
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X Launches Xchat With Bitcoin-Style Encryption

Elon Musk has announced the rollout of XChat, a new communication feature integrated into X, formerly known as Twitter. 

The feature introduces encrypted messaging, vanishing messages, and support for audio and video calls across platforms. According to Musk, XChat enables users to make calls without needing a phone number and supports sending any file type. He described the encryption system as a “whole new architecture,” likening it to Bitcoin-style security. 

The announcement follows X’s broader goal to transform into an all-in-one application, similar to China’s WeChat.

Feature Expansion Amid System Issues

Musk’s announcement comes as X implements expanded chat capabilities. These include end-to-end encryption, disappearing messages, and direct integration with the platform. Users can now access audio and video call options without linking a phone number. However, the update arrives shortly after the platform temporarily suspended its existing encrypted direct message (DM) feature.

X stated that the DM encryption was paused while improvements were underway. The pause followed a fire at a data center in Oregon that caused widespread outages across the platform, impacting various services, including messaging.

Before its suspension, encrypted DMs were available only to verified users under specific conditions. These included mutual follow status or prior acceptance of messages. The early access version also lacked support for group chats, multimedia content, and metadata encryption.

Despite those limitations, encrypted messaging had remained accessible for reading previously sent messages, though new encrypted messages could not be sent.

Mixed Analyst Reactions and Feature Comparisons

In response to XChat’s release, comparisons quickly emerged with existing platforms like Signal and Telegram. Grok, the AI chatbot built by xAI and integrated into X, highlighted key differences. It noted that XChat includes end-to-end encryption and native platform integration but remains in beta and has not undergone security audits.

Grok added that Signal offers strong default encryption and low data collection, while Telegram supports bots and large groups but only encrypts its Secret Chats, raising metadata concerns.

Separately, MartyParty, a known crypto commentator, commented that open-source and decentralized solutions, like Solana, should power XChat instead. 

Feedback on Messaging and Encryption Claims

Additional responses have focused on the encryption claims and the potential for disappearing content across the broader X platform. Samson Mow, CEO of Bitcoin tech firm JAN3, responded to the encryption analogy by stating that Bitcoin itself isn’t encrypted. 

On a different note, the citizen journalism account Autism Capital suggested extending vanishing messages to public tweets. They argued that auto-deleting posts tied to short-term events could help reduce content clutter and improve contextual relevance for users over time.

‘XRP Las Vegas Goes from Strength to Strength’: Ripple CEO Praises Support of XRP Community

Elendu Benedict
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0
‘XRP Las Vegas Goes from Strength to Strength’: Ripple CEO Praises Support of XRP Community

Ripple CEO Brad Garlinghouse has expressed his heartfelt appreciation to the XRP Army, which continues to support Ripple and the growth of the XRP ecosystem.

The conference, held at MGM Las Vegas from May 30 to 31, drew its largest attendance so far, as crypto enthusiasts showed interest in Ripple’s and XRP’s affairs. Notably, over 1,000 people attended the two-day community event, where Ripple executives shared their vision and plans for the adoption of XRP.

Recently, Ripple CEO Brad Garlinghouse took to X to appreciate the “incredible people” around the globe who make up the XRP community for gracing the XRP Las Vegas conference. He also highlighted the growing traction towards the ecosystem evident in the large attendance, noting that the event is growing from strength to strength.

Key Highlights from the XRP Las Vegas Conference

The event drew institutional presence, with prominent banking and cryptocurrency entities in attendance. Apart from Garlinghouse, Ripple CTO David Schwartz and former U.S. Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo also attended the event.

Furthermore, prominent institutions, JPMorgan and Citi, sent their representatives. Blockchain firms like Uphold and Verity One, along with other industry leaders, also attended the event.

During the event, Garlinghouse discussed Ripple, its vision, and how the XRP and XRP Ledger play a crucial role in driving its blockchain-based innovation.

Meanwhile, Bitwise CEO Math Hougan also attended and spoke at the XRP Las Vegas conference on May 31. He called the large turnout “impressive,” emphasizing that XRP’s strength lies in its community.

Hougan also highlighted that XRP complements Bitcoin, as both innovations have different market targets. Hence, BTC’s growing prominence does not in any way affect XRP’s vision or its relevance in its cross-border payment niche.

FOX Business journalist Eleanor Terret and prominent lawyer John Deaton also joined the conversation. They, along with other industry leaders, discussed Ripple and XRP’s expanding ecosystem landscape and how growing regulatory clarity and a more favorable environment would drive the crypto sector toward mainstream adoption.

XRP Complements Bitcoin, but Is an Upgrade

Meanwhile, during his speech, Ripple’s CEO addressed the rivalry between the XRP and Bitcoin communities. He clarified that Bitcoin is not XRP’s enemy and blockchain technology is not a zero-sum game.

Instead of the divide-and-conquer sentiments, Garlinghouse preached collaboration. According to him, XRP could still thrive under Bitcoin’s dominance, stressing an inter-chain partnership to “grow the whole pie.”

Moreover, Garlinghouse had earlier donated the Skull of Satoshi to the Bitcoin community, attempting to appease proponents of the pioneering cryptocurrency. The peace offering drew commendations from both communities. However, a few XRP faithful also read a different meaning into the skull.

Nonetheless, the Ripple CEO had emphasized in an earlier presentation to the IMF and the Swiss National Bank that XRP is better than Bitcoin in certain applications. He noted that the XRPL native token was 1,000 times faster and more scalable than Bitcoin.

“XRP originally was built by some engineers who had seen some of the flaws of Bitcoin and the challenges of scalability around Bitcoin,” Garlinghouse stated.

He also highlighted in the presentation that XRP focuses on including banks and financial institutions, initially segregated by the emergence of blockchain technology. Furthermore, XRP’s on-demand liquidity feature could replace banking needs for pre-funding and ensure a swift and cost-effective cross-border payment system.

Remarkably, Garlinghouse’s comments sparked renewed rivalry between the two communities. Bitcoin maximalists emphasized the asset’s decentralized nature and adoption as its primary advantages over XRP.

Shiba Inu Burn Portal Teases Major Crypto Market Shake-Up Announcement

Lele Jima
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0
Shiba Inu Burn Portal Teases Major Crypto Market Shake-Up Announcement

Shiba Inu community burn tracker Shibburn teases the upcoming introduction of a significant development poised to shake up the broader crypto market. 

In a tweet today, Shibburn revealed that it will make a major announcement later this week. According to the team, the update will be so impactful that it could influence the entire cryptocurrency space.

This signals an ambitious outlook, suggesting that the forthcoming news may not only affect Shiba Inu but could also have broader implications across the crypto industry.

Meanwhile, Shibburn clarified that the announcement does not involve a potential token sale.

This clarification is important, as many speculated that Shibburn might be planning to release a new token. As expected, followers quickly took to the comments section seeking more details about the announcement.

Most commenters asked whether the upcoming update would involve a new partnership that benefits SHIB. However, Shibburn has not responded to these inquiries. 

Shiba Inu Shibburn Celebrates 4th Anniversary 

Meanwhile, the announcement comes an hour after Shibburn took to X to celebrate its fourth anniversary. In 2021, the team behind Shibburn launched a dedicated platform that tracks the incineration of SHIB tokens. 

This platform has kept Shiba Inu enthusiasts and the broader cryptocurrency community informed about SHIB token burns in real-time. According to the team, the Shibburn platform was the first project launched in the Shiba Inu ecosystem after the SHIB token was introduced.

It expressed gratitude to everyone who has supported the Shibburn project since its launch, emphasizing that it truly appreciates their contributions to its growth.  

Next Phase Loading 

Following its success over the past four years, Shibburn hinted at plans to introduce the next phase of its project. 

“Stay tuned for the next phase,” it said in a follow-up comment. 

This suggests that Shibburn may be preparing to transition from its current operation into a new stage of development. Currently, Shibburn is recognized for tracking all transactions related to the incineration of Shiba Inu tokens. 

It releases an hourly report on its X handle, highlighting the number of tokens burned over the past 24 hours and 7 days. The community burn tracker provides concise details about each burn on its website, showing the wallets behind the transactions and the total tokens held in the burn contract.

Now, Shibburn is teasing the upcoming introduction of the next phase, which will be revealed this week. While it remains unclear what the next phase entails, Shibburn has clarified that it does not intend to launch a new token. 

Shibburn’s Past Efforts to Launch an L1 Blockchain

Although Shibburn has actively reported on SHIB token burn transactions, the project has attempted to diversify its operations. Following the mainnet launch of Shibarium in August 2023, Shibburn created a new project, dubbed Shib Association, in September 2023. 

It claimed that the Shib Association will introduce several projects and utilities that would drive the growth of the SHIB token. To achieve this aim, the Shib Association promptly commenced the development of a new L1 blockchain, which could utilize SHIB as its native token. 

The team initially scheduled a demo release for the blockchain in early 2024. However, as of now, the project has yet to materialize. Moreover, the official X account for the Shib Association has been inactive since December 2023.

It remains unclear whether Shibburn’s upcoming update relates to the blockchain project. 

Researcher Says XRP Chart Looks ‘Absolutely Horrible’, Warns of Potential Drop

Mark Brennan
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0
Researcher Says XRP Chart Looks ‘Absolutely Horrible’, Warns of Potential Drop

Ripple Van Winkle says XRP chart looks weak, warns of drop below $2 without major catalysts, but maintains long-term targets remain.

XRP has faced a bearish trajectory over the past week, falling from around $2.35 to approximately $2.15. Although it briefly touched a low of $2.11 on May 31, the asset managed a minor recovery, trading at $2.17 at press time.

Bearish Sentiment from Ripple Van Winkle

Against this backdrop, crypto researcher Ripple Van Winkle described XRP’s recent chart as “absolutely horrible.”

He highlighted that the current movement lacks strength and warned that without a significant market event, the token could fall back below the $2 level. He further noted that he had initially hoped for multiple bullish waves, rather than a single large upward move, which he considers less sustainable.

He also emphasized the current lack of momentum in the market, describing the overall sentiment as “very stale.” He suggested that approval of an XRP ETF could help revive activity. While expressing optimism about Bitcoin potentially reaching $120,000 next, he noted that altcoins, including XRP, may have to wait.

Continuing his remarks in the comment section, he distinguished between holders and traders. According to him, long-term holders should remain unaffected by the short-term downtrend, while traders may need to act with more caution. He maintained that his long-term targets for XRP remain unchanged despite the current market state.

In addition, he referenced the potential impact of the Hidden Road deal, suggesting that regulatory clarity on stablecoins could amplify its effect. However, he clarified that market participants should not rely solely on bullish narratives, as market conditions remain in flux.

Bullish Forecasts from Remi Relife

In contrast, crypto commentator Remi Relife provided an optimistic forecast, suggesting XRP could begin trading in a higher price range as early as June or July. He cited the end of what he called the “delay era,” pointing to a series of developments that could serve as catalysts.

These include the launch of X-Payments, potential announcements around the Genius Act on stablecoin regulation, and a resolution in the ongoing SEC case. He also mentioned XRP ETFs and broader transitions such as ISO 20022 integration and renewed institutional interest as critical mid-2025 factors.

According to Remi, these events, especially when timed with the summer period, could trigger significant market movements.

He tied the timing to both technical analysis and historical chart trends, stating that the anticipated shift is backed by Fibonacci levels and past market behavior. He emphasized that institutional triggers, if realized, could drastically impact XRP’s trajectory in a short period.

Institutional Triggers and Supply Constraints Highlighted

Expanding further, Remi stated that the launch of XRP-based ETFs could result in a major supply squeeze. He speculated that if ETFs allocate 20 XRP per share, institutional demand could deplete available retail and OTC liquidity.

He argued that there is already limited XRP circulating in the market, and increased interest from large investors may only heighten this shortage.

Meanwhile, other analysts echoed the view that June could be pivotal. Martin Hiesboeck, Head of Research at Uphold, cited several potential triggers including the Federal Reserve’s interest rate decision, the XRP Ledger APEX Summit in Singapore, and expected XRPL updates.

These updates may feature AI integration, DeFi expansion, and support for tokenized assets, all of which could contribute to broader price movements in the coming weeks.

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