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Will XRP Price Reach $2 By The End Of November?
Published
38 mins agoon
November 26, 2024By
adminCrypto analysts Mikybull Crypto and CrediBULL Crypto have suggested that the XRP price could reach $2 by the end of November. However, CrediBULL Crypto warned about what could hinder XRP from reaching this target.
XRP Price To Reach $2 By The End Of November
In an X post, Mikybull Crypto stated that the XRP price was looking so good at its current level and predicted that the crypto could reach $2 this week. CrediBULL Crypto also suggested that XRP could rally to $2 before this month ends but warned that it could depend on the Bitcoin price movement.
In an X post, the crypto analyst said that Bitcoin and XRP were at a pivotal point in their current price levels. He remarked that if the latter is at a level where it could record an extended 5th wave for this rally and continue above $2 without any significant pullback, it should be bottoming within its current range.
CrediBULL Crypto added that if the Bitcoin price holds 94,000, there is a decent chance the XRP price will be above $1.10, and the extended 5th wave will happen. However, if Bitcoin breaks below $1.10, it will confirm the completion of the first major Wave 1 from $0.48 to $1.62.
With the Bitcoin price falling today, this XRP rally to $2 before the end of this month could be at risk based on CrediBULL Crypto’s analysis. It is worth mentioning that the crypto analyst raised the possibility of XRP still enjoying this rally if Bitcoin can hold this $94,000 level and chop around this range for a bit.
The Rally To $2 Could Pave The Way To Double Digits
In an X post, crypto analyst Egrag Crypto suggested that the XRP price rally to $2 could pave the way for the crypto to reach double digits. This came as he revealed that the Fib channel 0.236 aligns perfectly at $2.
The crypto analyst remarked that with the right news and catalysts, XRP will soon break past this critical level, and then the real FOMO will kick in at $2. Egrag Crypto stated that reaching the Fib 0.5 level alone will take the XRP price into double digits. He noted that historically, the crypto has even surpassed this Fib level to hit at least 0.702.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Altcoins
Here Are Three Promising Altcoins for the Next Crypto Market Bounce, According to Top Trader
Published
3 hours agoon
November 26, 2024By
adminA closely followed trader in the crypto space says there may be opportunities for select altcoins once Bitcoin (BTC) stabilizes.
Pseudonymous analyst The Flow Horse tells his Telegram subscribers that the more liquid altcoins within the top 100 could present good entry points for bulls after their 50% dips.
The trader names cat-themed memecoin POPCAT as an example.
“Gentle reminder that alts probably can go a bit lower if Bitcoin does but after this type of mark up the 50% retracement level on liquid top 100 pairs is often a very good level to bid.
I would start creating filters and alerts for charts that are approaching their 50% retracement levels, Popcat is a good example.”
The Flow Horse also says that Celestia (TIA) and SEI are “good examples” of coins that are showing strength despite Bitcoin currently correcting and dragging much of the digital assets markets down with it.
The trader says it’s more than likely that BTC will consolidate under the $100,000 level, with some money flowing out of the risk curve into altcoins.
“Regardless of the near-term outcome, I think you can take one thing from BTC, no need to force anything here, BTC imo is more than likely going to take a little breather anyway before any real move above 100k.
Ideally, the market comes into agreement that we don’t have to worry about much lower prices, or that it doesn’t make sense to yet, and we can see some of the capital that does come out of Bitcoin go into alts.”
At time of writing, Bitcoin is trading at $94,201.
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Bitcoin Script
Bitcoin Script: Focus On The Building Blocks, Not The Wild Geese
Published
3 hours agoon
November 26, 2024By
adminEverything built on top of Bitcoin that you are aware of today is because of the primitives that Bitcoin Script supports. What do I mean by primitives? The basic components of a programming language that you can use to build actual applications to do things. No programming language was ever designed specifically for a single application, i.e. to build one program. They are designed to support basic primitives, like mathematical operations to manipulate data, or creating basic data structures to store data in a certain way, or operations to iterate through data as you manipulate it.
Basic primitives are designed in such a way that developers can decide how to use them in order to create an actual application or program. The core design of the language doesn’t necessarily focus on what people will do with it, just that the primitives of the language can’t be combined in a way that will either 1) fail to accomplish what the developer is trying to accomplish without them understanding why, or 2) accomplish what the developer is trying to do in a way that is detrimental to the end user.
No one designs a programming language thinking from the outset “Oh, we want to enable developers to do A, B, and C, but completely prevent them from doing X, Y, and Z.” (For more technical readers here, what I’m referring to here is the goal of what the developer is building, not low level technical details like how primitives are combined).
Bitcoin Script is no different than other programming languages except in one respect, what it means for a certain combination of primitives to be detrimental to end users. Bitcoin has two properties that general computer applications don’t, the blockchain and what is executed on it must be fully verified by all users running a full node, and the entire progression of the system is secured by financial incentives that must remain in balance. Other than these extra considerations, Script is like any other programming language, it should include any primitives that allow developers to build useful things for users that cannot be combined in ways that are detrimental to users.
All of the conversations around softforks to add covenants (new primitives) have devolved, at least in the public square, to ridiculous demands of what they will be used for. That is both not a possible thing to do, and also not the important thing to focus on. What will be built with Script is tangential to the risks that need to be analyzed, how things built interact with the base layer is the major risk. What costs will it impose, and how can those be constrained? (This is a huge part of the Great Script Restoration proposal from Rusty). How can those costs on the base layer skew incentives? This is a big part of the risk of MEV.
These questions can be analyzed without focusing obsessively over every possible thing that can be built with a primitive. Primitives can be constrained at the base layer in terms of verification cost and complexity. Most importantly, in terms of incentives, what new primitives enable can be compared with things that are already possible to build today. If new primitives simply improve the trust model for end users of systems that can already be built that have an influence on the system incentives, without materially worsening the influence they have on those incentives, then there is no real new risk introduced.
These conversations need to start focusing on what really matters, new functionality versus end user harm. They have derailed almost completely, again in the public square, not technical circles, into arguments over whether end users should be allowed to do things or not. That is not the conversation that matters. What matters is providing valuable functionality to end users without creating detrimental consequences.
People need to focus on the primitives, and not the wild geese they hear in the distance.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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