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Experts Explain “The Perfect Storm” for XRP Price Surge

Abdulkarim Abdulwahab
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Experts Explain “The Perfect Storm” for XRP Price Surge

While the price of XRP has lost momentum around the $2 mark, prominent figures in the community are discussing the next catalysts for a potential price storm.

Today, XRP is up 1.5%, currently trading at $2.10, with an improved weekly performance of 5.6%. Although the coin remains down by 36% from its three-month high, optimism remains high among enthusiasts who believe a major storm that could drive prices to a new peak is brewing.

In a recent discussion, Abdullah Nassif, aka “Abs”—host of the Good Morning Crypto podcast—and Bradley Kimes, the influencer behind the “Digital Perspectives” X account, explored the next catalyst that could propel XRP’s price.

Central to the discussion are the potential effects of exchange-traded funds (ETFs) on the XRP price.

The Perfect Storm for XRP Price Surge

Kimes asserted that the introduction of ETFs would be massive for XRP. He compared them to “giant vacuum cleaners” that could suck up all the liquidity of XRP. 

He explained that when clients purchase shares of the XRP ETF, the market withdraws some XRP tokens from the available supply. Essentially, this demand will create upward pressure on the XRP price due to the decreasing supply in the market.

To emphasize the potential scale, he noted that there are over ten asset managers actively pursuing ETFs that would directly invest in XRP. Notable names among these include Bitwise, with $12 billion in assets under management, and Grayscale, which manages $50 billion. Even the trillion-dollar asset manager Franklin Templeton is pursuing an XRP ETF.

In fact, there are more asset managers looking to launch an XRP ETF than any other cryptocurrency asset. Proponents see this as a massive development for the coin, expecting daily inflows from ETFs to add substantial buying pressure and potentially send the price “to the moon.”

Beyond ETFs, Kimes also pointed out that demand for XRP through payment services from market makers, who require daily XRP liquidity, could further drive prices up. Together with ETFs, he believes this creates “the perfect storm for a price surge.”

How Will ETFs Impact XRP’s Price?

Precisely how ETFs would impact XRP’s price is still uncertain, but industry commentators have speculated on various scenarios.

An analysis by The Crypto Basic last year explored a scenario in which XRP ETFs see $500 million in daily inflows. It argued this could push the price to $23. Another analysis speculated that if XRP captures 50% of Bitcoin’s ETF inflows, it could lead to a 3x price increase.

Meanwhile, U.S. banking giant JPMorgan estimates XRP ETFs could attract $8 billion in their first year—a prediction echoed by Crypto.com CEO Kris Marszalek. John Deaton, founder of CryptoLaw, believes the momentum from ETF approvals could even help XRP become the largest altcoin by market cap.

“Only BlackRock ETF Matters”

On the flip side, critics like Joshua Jake argue that the only ETF that would truly matter for XRP is one launched by BlackRock. Jake shared this view to counter the widespread optimism surrounding the impact of the more than ten ETF applications.

His argument centers on the fact that BlackRock’s Bitcoin ETF has been the most successful among all issuers. Since its inception, the BlackRock Bitcoin ETF has seen inflows of $39.67 billion, while some issuers—such as Invesco and WisdomTree—have failed to surpass even $100 million.

Meanwhile, speculation within the XRP community suggests that BlackRock may be considering an XRP ETF to stay competitive, though this remains unconfirmed. In fact, an earlier statement from the firm suggested disinterest in pursuing an XRP-based ETF. However, this came up at a time when the fate of the Ripple vs. SEC lawsuit remained unclear.

Steady Shiba Inu Investor Acquires Over 237,000 BONE Tokens Through Daily Buys in 3 Years

Lele Jima
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Steady Shiba Inu Investor Acquires Over 237,000 BONE Tokens Through Daily Buys in 3 Years

For more than two years, an anonymous Shiba Inu investor has consistently accumulated Bone ShibaSwap (BONE) tokens daily.  

Famous BONE enthusiast Javier Olmedo highlighted the user’s wallet in an X post yesterday, emphasizing that the investor has been buying the token since 2022. 

Consistent BONE Acquisition 

Data from Etherscan shows that the user, with the wallet ‘0xdc1…bdad1,’ made their first BONE buy on August 29, 2022, nearly three years ago. In this transaction, the user swapped 0.338 ETH to acquire 447.74 BONE. 

Since the first purchase, the investor has not relented in accumulating BONE almost daily. By June 2024, the user had accumulated around 75,000 BONE tokens after over two years of regular purchases. 

Interestingly, the investor increased their pace of accumulation and purchased over 162,000 BONE tokens in under 12 months, from June 2024 to the present. 

At the time of writing, the address has a balance of 237,311 BONE, currently worth $58,553, each priced at $0.2467. Notably, BONE ranks as the biggest holding by dollar value in this investor’s wallet. 

A Staunch Shiba Inu Believer 

Besides BONE, on-chain data suggests that the wallet’s owner is a strong believer in Shiba Inu ecosystem tokens. The wallet holds other ecosystem tokens like SHIB, KNINE, and ROAR. Notably, ROAR was recently highlighted as the hottest token on Shibarium. 

Meanwhile, the investor’s continuous accumulation of BONE elicited reactions among Shiba Inu enthusiasts, with some, like ‘Shib Mehta, ‘ characterizing the investment decision as a smart move. 

The steady purchase of BONE demonstrates the investor’s belief in the token despite its rollercoaster movement over the past few years. 

BONE Suffers Huge Decline 

For context, the Shiba Inu ecosystem team introduced BONE in July 2021. It was initially designed to function as the governance token of Shiba Inu’s native decentralized exchange, ShibaSwap. 

Shortly after BONE’s launch, its price skyrocketed to an all-time high of $41.67 on September 13, 2021. Since reaching this peak, BONE’s price has crashed tremendously. On August 29, 2022, when the user made their first BONE buy, the token traded at an average of $1.37. 

The token continued its plunge as the days passed, ultimately dropping below the $1 mark. While many investors panicked, the owner of 0xdc1…bdad1 saw the decline as an opportunity to continue accumulating BONE at discounted prices almost daily. This strategy has enabled the investor to grow their holdings to 237,311 BONE tokens. 

At press time, BONE is trading at $0.2467, down over 99% from its ATH and 81% beneath the wallet’s average acquisition price. 

1 in 3 Wealthy South Koreans Invest in Crypto, Says 2025 Wealth Report

Albert Brown
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1 in 3 Wealthy South Koreans Invest in Crypto, Says 2025 Wealth Report

According to the 2025 Korea Wealth Report, one-third of individuals with financial assets exceeding 1 billion won have invested in or hold cryptocurrencies. 

The findings follow an extensive survey involving 3,010 respondents. They reveal the evolving investment habits of high-net-worth individuals in South Korea amidst ongoing economic challenges.

Growing Popularity of Crypto

The study found that 34% of wealthy South Koreans have purchased or currently own crypto assets. On average, these individuals have invested about 42 million won (approximately $29,232) in digital currencies. 

Notably, more than 70% of virtual asset investors have committed at least 10 million won to these assets, with 34% holding four or more different types of virtual assets. This indicates a growing diversification strategy among the country’s affluent investors.

While profitability remains the primary motivation for these investments, the factors driving interest in virtual assets have shifted. Just under half (49%) of respondents indicated the potential for high returns drove them. However, this is a decline from 59% in previous years.

In contrast, the accessibility of these investments (37%) and the sector’s expected growth prospects (34%) have gained more traction. This suggests that the wealthy now view crypto as an evolving and promising market.

Virtual Asset Investments Continue

Despite an uncertain economic climate, South Korea’s wealthiest individuals appear committed to maintaining their investments in virtual assets. The survey revealed that 60% of those who have invested in digital currencies plan to continue doing so in 2025. 

In comparison, only 10% of respondents agreed to withdraw from the virtual asset market. 

Young Wealthy Lead the Charge

A closer look at generational differences reveals that the younger wealthy, typically those in their 40s or younger, plan to engage more with crypto assets and foreign stocks.

For instance, 78% of the young rich own stocks, compared to 66.4% of their older counterparts. Additionally, a larger proportion of their stock investments is directed toward foreign markets, with about 30% of their portfolios allocated to foreign stocks, much higher than the 20% seen in the older demographic.

Moreover, the young wealthy are also much more inclined to invest in virtual assets. Approximately 29% of individuals in this group own digital currencies, compared to just 10% of the older wealthy population. 

Greenlighting Institutions to Invest in Crypto

In January, South Korea announced plans to gradually introduce institutional investors into the crypto market as part of a more favorable approach toward digital assets.

According to the update, South Korea’s main regulatory body, the Financial Services Commission (FSC), would begin permitting institutional investments in crypto.

Previously, access to crypto investments in South Korea was largely restricted to retail investors. While the country has not implemented a formal ban on institutional participation, it has historically discouraged such involvement in the digital asset space.

Early Bitcoin Adopter Predicts XRP Price, Says It Could Do Something Crazy This Year and Potentially Reach $24

Albert Brown
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Early Bitcoin Adopter Predicts XRP Price, Says It Could Do Something Crazy This Year and Potentially Reach $24

Early Bitcoin adopter Davinci Jeremie has provided an updated assessment of his earlier bullish price prediction for XRP.

In a video shared with his over 826,000 followers on X, Jeremie admitted that XRP could “possibly” reach a $24 price point.

$24 Price Still on the Table for XRP

Recall that in January, after years of predicting that XRP would go to zero, Jeremie made a bold U-turn and offered a daring bullish outlook for the coin.

At the time, he suggested that XRP’s momentum could rally to between $20 and $24 by the end of this cycle. Back then, XRP was trading at a seven-year high of $3.34.

However, the coin subsequently dumped by 51% to $1.64 earlier this month. Interestingly, XRP has since rebounded slightly from this low and is now maintaining a price in the $2 region.

Given that the coin has lost its bullish steam and has been in a holding pattern for the past three months, Jeremie updated his outlook.

Regarding whether a $24 high is still achievable this year, Jeremie responded, “Possibly.” However, he reiterated his skepticism about why crypto enthusiasts should avoid investing in XRP in favor of Bitcoin.

Why XRP Could Still Pump Hard

Notably, Jeremie provided a key reason why he believes XRP still has a good chance of reaching $24 this year. Specifically, he claimed that there are many people in the U.S. government “pushing XRP.”

While he offered no specific context, the sentiment draws from recent developments. Just last month, U.S. President Donald Trump announced on social media that the government would hold XRP as part of a national crypto stockpile.

Interestingly, Trump highlighted XRP as a potential reserve asset before even mentioning Bitcoin and Ethereum, which came in follow-up announcements. Public commentators argue that this implies XRP is being promoted at the highest levels of the U.S. government.

Recall that Ripple CEO Brad Garlinghouse once publicly acknowledged promoting the idea of a multi-asset national crypto reserve that includes Bitcoin and altcoins like XRP.

Meanwhile, it’s worth noting that in the final order signed by the president, Bitcoin remains the only asset the government intends to buy.

Still, as XRP continues to feature in discussions in high-level government circles, public figures like Jeremie believe this could be a bullish factor that helps propel XRP’s price higher this year.

As a result, he stated there’s a likelihood that XRP does “something crazy” this year.

For context, with XRP trading at $2.10 today, reaching $24 would mean a rally of 1,042%. This would shatter multiple records, including setting a new all-time high, achieving a trillion-dollar valuation, and entering the double-digit price range. 

Notably, market commentators like Egrag and Javon Marks believe XRP could even surpass $24 this year. Some have called for prices as high as $99.

XRP Remains an Unrecommended Investment

Despite these promising prospects, Jeremie reiterated his warning that XRP is not a coin crypto enthusiasts should invest in. According to him, XRP is a “banker coin,” and investing in it means supporting banks that are widely believed to enrich themselves at the expense of the poor.

“Do you want to support a banking system that gets free money on your behalf and steal from you whenever they screw up?” he concluded.

If You Invested $1,000 in Shiba Inu in 2020, Here’s How Much You’d Have in 2021, 2022, 2023, 2024, and 2025

Lele Jima
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If You Invested $1,000 in Shiba Inu in 2020, Here’s How Much You’d Have in 2021, 2022, 2023, 2024, and 2025

Early investors who committed $1,000 in Shiba Inu at its launch are still on life-changing gains despite the recent price dip.    

Several tales have been told of how Shiba Inu transformed the lives of early investors, making them rich within a short time. Meanwhile, some early investors watched their investments shrink to almost nothing before the rally. 

Shiba Inu Early Performance 

In a tweet today, Roarger, a moderator of the Buckazoids crypto project, disclosed how dramatic the returns on a $1,000 Shiba Inu investment have been since its early days.  

The accompanying table suggests that SHIB started trading at an initial price of $0.000000000510 on August 1, 2020. At this price, a $1,000 investment in SHIB fetched early investors 1.96 trillion SHIB tokens. 

However, the price plummeted so much that it dropped to around $0.000000000001 on December 31, 2020. This saw the $1,000 investment in SHIB shrink to $1.96, leaving many underwater with no hope of recovery. 

However, the tide changed in favor of Shiba Inu, as it rose from the ashes and eventually soared to $0.00000001 in January 2021, pushing investors’ $1,000 stake to $19,607. Shiba Inu’s vibrant community members promoted SHIB heavily, with more investors also purchasing the asset. 

On March 31, 2021, SHIB’s price skyrocketed to around $0.00000005 as the value of the 1.96 trillion SHIB portfolio also rose to $98,039. 

$1K Stake Turns Into Millions of Dollars 

The meme coin frenzy in April-May 2021 also impacted Shiba Inu’s remarkable growth. During this period, top exchanges like Binance listed SHIB, and Ethereum co-founder Vitalik Buterin burned nearly half of the token’s supply. 

These events resulted in Shiba Inu’s price soaring to $0.0000088 on May 31, 2021, with the same $1,000 stake exploding into $17.25 million. However, SHIB experienced a retracement from this level and dropped to $0.0000063, retracing the $1,000 initial stake to $12.35 million in July. 

SHIB continued its downturn, dropping its price to $0.0000028 by October 8, causing the returns to shrink to $5.49 million.

However, SHIB staged a major comeback that same month, eliminating a zero and reaching an all-time high of $0.00008845. At ATH, the initial $1,000 staked in SHIB at the time of its launch jumped to a whopping $173.43 million. 

Returns of $1000 SHIB investment from Day 1 till date
Returns of $1000 SHIB investment from Day 1 till date

Returns Still in the Millions Despite Dips 

Since SHIB clinched the ATH target, its price has plunged dramatically and eventually reached $0.00002143 on January 31, 2022. At this price, the value of the $1,000 SHIB investment, which peaked at $173 million in October 2021, crashed to $42 million. 

Things got worse for SHIB amid a broader market downturn driven by the FTX crash in late 2022. On January 31, 2023, its price dropped further to $0.00001181, and the stake also plummeted to $23.15 million.  

Shiba Inu continued to experience decline and eventually added another zero a year later. It traded at around $0.00000894 by January 31, 2024, pushing the value of the stake down to $17.52 million. 

Interestingly, Shiba Inu participated in the broader market relief rally driven by the reelection of pro-crypto President Donald Trump. On January 31, 2025, its price stood at $0.00001889. By then, the stake rose to around $37.03 million. 

However, SHIB’s performance has worsened ever since due to the global tariff war. It currently trades at $0.000012, bringing the stake down to $23.52 million. 

In the meantime, investors are still hopeful that SHIB will recover its post-election gains and eventually reach loftier targets above $0.0001. If this happens, the initial $1,000 invested in Shiba Inu at the time of its launch would skyrocket to $196.07 million. 

XRP Outpaces Ethereum for the First Time in Over 5 Months—But Can It Hold

Mark Brennan
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XRP Outpaces Ethereum for the First Time in Over 5 Months—But Can It Hold

XRP performance against Ethereum has been historically weak, but recent trends in 2025 suggest a shift. However, an analyst questions how much longer this bullish trend could last.

Over several months, XRP has outperformed ETH, breaking away from its pattern of underperformance from previous years. Notably, a 2025 heatmap of XRP/ETH monthly returns shows strong growth for XRP, particularly in late 2024 and early 2025. This trend raises the question of whether this outperformance can continue.

XRP Underperformance and Recovery

From 2015 to 2024, XRP consistently lagged behind Ethereum, with multiple months showing negative returns. The gap was particularly notable during 2018, when XRP suffered large losses, such as -60.6% in January 2018 and -40.1% in February 2017. 

Despite occasional periods of positive performance, including a five-month streak in 2017, XRP’s returns generally remained negative compared to Ethereum.

The year 2021 marked a turning point for XRP, with a notable increase in positive returns against ETH. During this time, XRP posted several green months, particularly in April, where the token saw a 93.8% gain. The months from December 2021 to February 2022 also showed positive growth.

XRP’s Outperformance in 2025

Meanwhile, in 2025, XRP’s outperformance relative to Ethereum has been striking. Since November 2024, XRP has delivered a strong series of gains, starting with 160.4% in November and 18.5% in December. 

The trend continued into early 2025, with January registering a 47.3% increase, followed by 4.3% growth in February. March and April also saw strong positive returns of 19.6% and 14.3%, respectively. This marks a clear break from the long-standing pattern of underperformance and raises questions about whether XRP can maintain this momentum in the coming months.

Analyst Says XRP Will Continue Outperforming

To address this, analyst DonAlt, known pseudonymously, shared his belief in XRP’s strong upside potential on the TechnicalRoundup YouTube channel. He emphasized that he has been bullish on XRP since it traded for $0.60, viewing it as the best asset to capture altcoin strength during the current market cycle.

DonAlt acknowledged that if the market declined, Ethereum would likely perform better than XRP. However, he believes that in an upward market, XRP has the potential to significantly outperform other cryptocurrencies, including Ethereum.

Inflow Trends Diverge from Major Cryptos

Also, it is important to note that XRP has been an outlier in terms of investor inflows. While Bitcoin and Ethereum experienced significant outflows, XRP saw consistent inflows. Last week, XRP recorded $3.4 million in inflows, bucking the trend of outflows observed in other major cryptocurrencies.

The total year-to-date (YTD) inflows for XRP stand at $176 million, highlighting strong investor interest in the asset. In contrast, Bitcoin saw outflows of $751 million, while Ethereum’s outflows totaled $37.6 million during the same period.

Whale Unstakes $1.26B Bitcoin from Babylon: Here’s What Happened

Albert Brown
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Whale Unstakes $1.26B Bitcoin from Babylon: Here’s What Happened

The crypto world has witnessed a major move as Bitcoin worth $1.26 billion was unstaked from Babylon.

Market watcher Lookonchain flagged the transaction on Wednesday in a tweet with details via Arkham Intelligence. It involved the withdrawal of 14,929 BTC from the decentralized Bitcoin staking platform Babylon.

The sheer scale of the withdrawal immediately drew attention, especially as it appeared to coincide with changes in Bitcoin’s price trajectory.

Bitcoin Price Reaction

Before the first unstaking event at 19:57:32 UTC, Bitcoin’s price had steadily climbed, reaching a daily high of $85,164. However, after the initial transaction, the price fell to $83,500. 

Attempts at recovery followed, but Bitcoin remained below its earlier high. As of press time, Bitcoin’s price stands at $84,404. The price fluctuation indicates a strong response to the sudden increase in Bitcoin being removed from the staking platform.

Unstaking Details and Distribution

The whale behind the unstaking spread the BTC across multiple addresses in several large transactions. Notably, it executed the withdrawals in a series of transactions, which suggests a strategic move rather than a single uncoordinated action. Among the largest withdrawals, one transaction involved 563 BTC, worth $47.34 million. 

Meanwhile, 500 BTC was unstaked in four separate transactions, each valued at $42.24 million. Two other transactions involved 499.85 BTC, each valued at $42.21 million. Additionally, 299.992 BTC were withdrawn in two transactions, each valued at $25.34 million. Another 334 BTC was also unstaked in one transaction valued at $28.25 million.

ImageThe wallet responsible for the withdrawals had seen steady growth since mid-2024, with a notable spike in December that brought the portfolio’s value to over $1.3 billion. However, this upward trend plateaued in early 2025, followed by the recent decline in balance.

At the time of this report, Babylon’s portfolio, based on Arkham data, shows $3.84 billion, with 45,555 BTC held on the platform. 

Large Bitcoin Holders Withdrawing?

Additionally, data from IntoTheBlock highlights a significant shift in Bitcoin’s movement among large holders. Over the past seven days, inflows from large holders have decreased by 29.05%, coinciding with the large unstaking activity. 

Bitcoin Large Holder Inflows
Bitcoin Large Holder Inflows

In contrast, the 30-day change shows a 465.15% increase in inflows, likely driven by a spike in early February and March. Despite this recent drop, large holders’ activity has generally risen over the past three months, according to the data.

XRP Holds Weekly Kijun-Sen as Analyst Says It Boasts the Strongest Chart Targeting $4.50

Sam Wisdom Raphael
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XRP Holds Weekly Kijun-Sen as Analyst Says It Boasts the Strongest Chart Targeting $4.50

XRP appears to be taking the lead in crypto market strength, outperforming even Bitcoin, according to an Ichimoku Cloud analysis by Dr. Cat. 

Notably, XRP has struggled with bearish pressure since February alongside Bitcoin (BTC) and the rest of the crypto market. However, despite the turbulence, XRP seems to be displaying more resilience, as it holds above the $2 support level.

In a recent analysis, market watcher Dr. Cat revealed that the weekly XRP chart indicates a bullish structure, with the asset maintaining important technical levels. As the crypto market struggles with corrections, XRP looks ready to challenge its previous highs, possibly targeting $4.50 by May.

XRP Holds Above Ichimoku Cloud Kijun Sen

Notably, the Ichimoku Cloud on XRP’s weekly timeframe confirms this bullish setup. Specifically, price action is holding above the Kijun Sen, which currently sits at around $2.07, indicating that XRP maintains equilibrium and respects a major support level. 

Moreover, the Tenkan Sen rests above the Kijun Sen, forming a bullish crossover. This position implies that short-term momentum continues to favor buyers. Further, the Chikou Span, or lagging line, sits above the price action from 26 weeks ago, a historically bullish indication.

XRP Weekly Ichimoku Cloud
XRP Weekly Ichimoku Cloud | Dr Cat

Meanwhile, the future Kumo or cloud projection further confirms strength. Notably, the cloud is thick and upward-sloping into May, with Senkou Span A holding above Senkou Span B. This cloud formation acts as support in trending markets, and its widening shape points to growing momentum in XRP’s favor. 

In addition, volume trends reveal consistent market participation during recent consolidation phases. Candlestick formations also show buyers defending the $2.03 to $2.06 range. Notably, this indicates a trend of accumulation before a potential breakout.

Dr. Cat stressed that XRP’s current structure gives bulls full control of the market. He highlighted that unlike many other altcoins, such as Ethereum, that are already showing signs of entering a bear market on the weekly timeframe, XRP still holds technical superiority. 

He also pointed out that XRP remains in a strong position to challenge its all-time highs and could rally toward the $4.50 level in the coming weeks, especially if it maintains its position above the Kijun Sen and continues to build support above the cloud.

Bitcoin Showing Relative Weakness

In contrast, Bitcoin’s weekly chart is less bullish. BTC has broken below the Kijun Sen, currently hovering near $85,000, which shows a loss of equilibrium. Also, the Tenkan Sen has crossed beneath the Kijun Sen, forming a bearish crossover called a death cross.

Although Dr. Cat noted that this bearish signal may be temporary or fake, he admitted that it is a technical point scored by the bears, indicating that Bitcoin must work harder to regain bullish control.

Bitcoin Weekly Ichimoku Cloud
Bitcoin Weekly Ichimoku Cloud | Dr Cat

Price action for Bitcoin remains trapped within the Ichimoku cloud, a zone of indecision where neither buyers nor sellers have dominance. The future Kumo appears thin and relatively flat, presenting limited support and suggesting that any downward pressure could lead to a deeper retracement. 

The Chikou Span also lags behind the price from 26 weeks ago, as uncertainty and slowing momentum emerge. Further, trading volume has declined since Bitcoin’s recent high near $110,000, weakening the case for a quick rebound unless momentum picks up.

While Bitcoin attempts to reclaim higher ground, XRP’s chart continues to exhibit textbook bullish characteristics. Moreover, the XRP/BTC chart seems to be recovering after three straight intraday losses. Year-to-date, XRP is up 11.6% against Bitcoin, with XRP changing hands at $2.09, while BTC trades for $84,484.

XRPBTC 12M Chart
XRPBTC 12M Chart

Three Wallets Cash Out Over $600K as Base’s Unofficial Token “Base Is for Everyone” Stir Criticisms

Elendu Benedict
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Three Wallets Cash Out Over $600K as Base’s Unofficial Token “Base Is for Everyone” Stir Criticisms

Three wallets record an astonishing return on investment on the newly created token “Base is for everyone” amid widespread criticism.

Despite a mildly recovering crypto market, profit-hungry investors are still on the lookout for the next big meme coin to ape into and chase elusive gains.

The accuracy of this statement is evident in the instant traction from a new token created on Zora, an on-chain social platform that converts posts to contentcoins, despite past events from the LIBRA token.

For context, Base made an official post on the X platform on Wednesday with the caption “Base is for everyone.” A moment later, the Coinbase-affiliated layer 2 network noted it has “coined it” on Zora, sparking a market frenzy.

Market Users Ape into Token

The token instantly gained traction, with users pushing its market value first to $17 million. However, the token crashed over 90% as traders began to take profit before recovering massively to hit $22.48 million. At the time of writing, DEXScreener shows the asset boasts a market cap of $14 million, and its price per coin is $0.01541.

Notably, as the token creators, Base received one million of the “Base is for everyone” tokens (1% of the total supply). The platform clarified that it does not intend to sell the stash but insisted it was not an official network token for Base. At the time of writing, Base has generated over $72,500 as the token’s creator.

Three Wallets Record Staggering Gains

Despite the skepticism surrounding the token, a few users made substantial returns on investments from the meme coin. However, the activities of three wallets caught the eye of the on-chain analytical platform Lookonchain.

The on-chain tracker disclosed that three wallets made insider moves on the token, turning their meager inputs into astonishing returns. 

For context, wallet address “0xO992” bought 256.4 million “Base is for everyone” tokens with 1.5 ETH ($2,370) before Base posted the token on X and sold it a few minutes later for 108 ETH ($170,400). The sniper purchase saw the address make $168,000, an impressive 7,090% uptick.

Further, the second address, “0x5D9D,” used 1 ETH worth $1,577 to buy 82.86 million of the token before the announcement, reselling it for 169.7 ETH ($267,600) when the price surged. In addition, the third wallet also turned $1,577 into $233,400, recording a 14,700% gain.

Selling Activities for the Wallets as Price Increases

Meanwhile, Base has received widespread criticism over the token launch, with users claiming it rugpulled investors. For instance, a user claimed that over 2,500 holders, who are potentially new Base users, lost their resources to the token. Furthermore, he criticized the coin’s tokenomics, as three wallets held 47% of its total supply.

However, Base has defended the launch, stressing it was an experiment. The protocol also urged critics to normalize them bringing contents on-chain, arguing that it is the future.

Big Day For XRP as US Court Officially Freezes Ripple V SEC Appeal: Here’s the Next Step

Lele Jima
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Big Day For XRP as US Court Officially Freezes Ripple V SEC Appeal: Here’s the Next Step

The United States Court of Appeals for the Second Circuit has officially suspended the appeal between the SEC and Ripple. 

The court issued the order a week after Ripple and the SEC jointly requested to pause further proceedings in the appeal. As previously reported, the parties suggested that an agreement was in place to resolve the appeal. 

Court Grants Request 

Interestingly, Judge José A. Cabranes of the Second Circuit granted the request, temporarily suspending the appellate proceedings. This implies that neither the SEC nor Ripple will file any appellate briefs until the court lifts the appeal suspension. 

Notably, the court ordered the SEC to file a status report within 60 days of the order, which was issued on April 16. The report, expected to be filed on or before June 15, will update the court on whether the parties have resolved the appeal or wish to continue with the case. 

Agreement Still Requires SEC Approval 

Following the temporary suspension of the appeal, the SEC must decide on its in-principle agreement with Ripple for the potential resolution. 

It bears mentioning that the agreement relates to the SEC vacating the permanent injunction a New York federal court imposed on Ripple’s XRP institutional sales and slashing the fine from $125 million to $50 million. 

To proceed, the SEC commissioners must approve this internal in-principle agreement. As of now, the agency leadership is still considering those terms. 

Next Step in Ripple Lawsuit

Once approved, the parties will jointly file a motion to modify U.S. District Judge Analisa Torres’ final ruling. Specifically, the SEC and Ripple would ask Judge Torres to vacate the permanent injunction and reduce the fine to $50 million. 

Popular legal expert Attorney Fred Rispoli also shared this sentiment in reaction to the Second Circuit’s latest order. 

Next step in Ripple lawsuit legal expert
Next step in the Ripple lawsuit, legal expert

Recall that Judge Torres issued the permanent injunction and fine against Ripple following her findings that the company violated federal securities laws through its XRP sales to institutional clients. 

The injunction prohibits Ripple from engaging in future institutional sales of XRP without obtaining the necessary exemptions from the SEC. However, the order was seen as a major limitation to Ripple’s operations in the U.S. 

Many suggested it could hinder the company from effectively serving clients with its payment solution, which leverages XRP for cross-border payments. Hence, Ripple pursued dismissal of the injunction and payment of a reduced fine. 

Notably, Attorney Rispoli predicted that the Ripple lawsuit would be completely resolved before May 25, potentially ending the case, which began in December 2020. 

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