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Will XRP Price Touch $2 Post Ripple Stablecoin Launch?

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5 hours ago

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The crypto market participants are anticipating the impact of Ripple’s RLUSD stablecoin launch on XRP price. Some speculate that this could push XRP to $2, others suggest $1 is a reasonable target.

Let’s explore how high XRP price might go post Ripple’s stablecoin goes live.

Can XRP Price Hit $2 Post Ripple’s RLUSD Launch

Ripple’s recent announcement of the RLUSD stablecoin partners has sparked interest among investors and are already speculating that this launch could impact XRP price. Just like the SEC vs. Ripple lawsuit triggered a massive volatile move to the upside, the launch of RLUSD stablecoin will most likely have a similar effect on XRP.

Technical outlook forecasts what investors are expecting, XRP price to target $1 in the short-term. Over the longterm, $2 might be possible, but depends mostly on how XRP fits into the bigger picture and its importance in the stablecoin ecosystem.

When Is Ripple’s RLUSD Stablecoin launching?

According to recent developments, Ripple has chosen Bitstamp, CoinMEAN, Independent Reserve, Bitso, Uphold, Bullish, and MoonPay as their stablecoin partners. 

Although there isn’t a set date for the launch of RLUSD, Ripple mentioned that it is waiting for regulatory approval. Once the necessary requirements are met, the payments company is ready to launch the stablecoin globally. 

After Ripple announced their partners, Uphold CEO Simon McLoughlin responded by saying,

“Stablecoins are the killer use case for blockchain technology and help to solve one of the most glaring problems in modern finance – cross-border payments. We expect stablecoins to replace many use cases of traditional fiat money faster than many people imagine as virtually all major financial centers are now enacting clear regulations for stablecoins.”

XRP Price Analysis: Will Ripple hit $1?

The daily XRP price chart clearly visualizes the range-bound movement inside the yearly Volume Weighted Price Average (VWAP) with a single standard deviation. The blue line at the center is the yearly VWAP and the green lines on either sides are one standard deviation apart. 

Ripple price today trades under the yearly VWAP at $0.561 and below the daily resistance level of $0.556. If the Ripple’s RLUSD stablecoin is launched then a breakout above the aforementioned levels is more than possible. The first key target is $0.635. 

Beyond this barrier, investors need to pay attention to the $1 psychological level. But in times of massively heightened volatility XRP price could easily surpass these short-term resistance barriers and tag the $2 level.

Will XRP Price Touch $2 Post Ripple Stablecoin Launch?Will XRP Price Touch $2 Post Ripple Stablecoin Launch?
XRP/USDT 1-day chart

On the other hand, if XRP’s involvement in RLUSD is minimal or zero, it could negatively affect Ripple price and trigger a correction to $0.5055. A breakdown of this barrier would invalidate the bullish thesis and trigger another pullback to $0.496. 

Frequently Asked Questions (FAQs)

Ripple’s RLUSD is a stablecoin that may positively impact XRP price, potentially pushing it to $1 or $2.

The launch date is uncertain, pending regulatory approval.

Key targets include $0.635, $1, and potentially $2, with support levels at $0.5055 and $0.496.

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Akash Girimath

Akash Girimath, an engineer by training, has developed a deep fascination with the complexities of cryptocurrency markets. As a senior reporter and analyst, he specializes in crypto analysis and contributes his expertise to notable platforms such as AMBCrypto and FXStreet. In addition to his analytical work, Akash actively trades cryptocurrencies and manages a small crypto fund for friends and family. His role involves providing insightful market analysis and keeping readers informed about the latest trends in the crypto world. Follow Him on Youtube , X and LInkedIn

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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Donald Trump

Here’s How This Crypto Trader Made $3 Million With Just $96

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2 hours ago

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October 19, 2024

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Since last weekend, the crypto market witnessed a renewed recovery momentum as pioneer digital asset Bitcoin rebounded from $60,000. The memecoin sectors, known for their volatile nature and speculative trading, often provide a dynamic move amid new market changes. A crypto trader has recently leveraged this trend and made $3 Million from just $96 by trading TRUMP tokens. 

Crypto Trader Turns $96 to $3 Million

On August 12th, a crypto trader made an initial purchase of 608,650 TRUMP tokens on Uniswap, spending only 0.052 ETH, which was worth around $96 at the time. With the escalating competition between former president Donald Trump and U.S. Vice President Kamala Haris, the PolitiFi tokens are gaining significant traction among crypto investors.

ETH Crypto TraderETH Crypto Trader
Etherscan

The 2024 U.S. presidential race and its surrounding developments have had a major impact on top meme coins, allowing savvy crypto trade to capitalize on a high momentum rally.

According to Etherscan, the aforementioned crypto trader has started selling portions of his TRUMP holding, booking profit after a notable recovery. Yesterday, the trader sold 6k Trump tokens for 11.4 ETH (worth approximately $30,000)

Despite this sale, the crypto trader still holds a significant amount of TRUMP tokens, with 594,564 remaining in its wallet, valued at an impressive $3.06 million. 

ImageImage

By the press time, the TRUMP token trades at $4.2, with an intraday loss of 18.8%. Consecutively, the market cap surged to $180.1.

As Doland Trump’s winning bet surged to 60.1% in Polymarket, a prediction market platform, the PolitiFitokens like MAGA (TRUMP), MAGA HAT (MAGA), and Doland Tremp (TREMP) should witness aggressive bullish momentum.

MAGA (TRUMP)MAGA (TRUMP)
TRUMP/USDT 1d Chart

Ethereum and Solana: The Growing Platforms for Memecoins

Beyond TRUMP’s success, the other meme cryptocurrencies on the Ethereum and Solana blockchain are reclaiming investors’ attention. These joke coins build on a robust infrastructure of Ethereum and the highly scalable Solana blockchain thriving due to their community-driven hype.

Ethereum memes such as Shiba Inu (SHIB) and Pepe coin (PEPE) and Solana-based coins like Dogiwfhat (WIF) and Gluteus Maximus (GOAT) are positioned for prolonged recovery amid increasing utility and whale interest.

Conclusion:

The ability to turn $96 into $3 million is nothing short of incredible, showing how meme cryptocurrency could turn a crypto trader from zero to hero. However, investors should remain cautious when trading these assets as their volatility could shake trade sentiment in seconds.

Frequently Asked Questions (FAQs)

The trader invested 0.052 ETH (around $96) to purchase 608,650 TRUMP tokens on Uniswap in August 2023. As TRUMP’s price surged, the trader sold portions of their holdings, eventually turning the initial $96 into $3 million

The 2024 U.S. presidential race, particularly the competition between Donald Trump and Kamala Harris, has significantly boosted the popularity of PolitiFi tokens

Meme coins thrive on the Ethereum and Solana blockchains due to their robust infrastructure and community-driven hype.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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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Price analysis

Shiba Inu Price Makes End-of-Correction Pattern For 48% Rally

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15 hours ago

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October 18, 2024

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The Shiba Inu price surged 2.7% during Friday’s trading session to reach $0.000018. The bullish narrative is fueled by restoring Uptober rally sentiment as Bitcoin climbs toward $70,000. With the formation of the famous Inverted Head and shoulder pattern, the SHIB price signals the end-of-correction and massive rally ahead.

Shiba Inu Price Poised for a 48% Rally with the End-of-Correction Pattern

Since mid-June, the Shiba Inu price prediction has showcased a sideways trend, struggling to surpass the $0.00002 barrier. However, an analysis of the daily chart displays this consolidation as forming a well-known reversal pattern called inverted head and shoulder. 

The chart pattern characterized by three troughs indicates the asset witness demand pressure at the bottom support. Amid October’s rally, the SHIB price rebounded from $0.00001552 to $0.0000187, accounting for 21.2% growth, while the market cap surged to $11.04 billion.

If the pattern holds true, the Shiba Inu price is poised for another 8% surge to challenge the $0.00002 neckline resistance of the In H&S pattern. Theoretically, this pattern establishes a predetermined target by measuring the distance from the middle trough to the neckline. This measurement is then applied from the breakout point to project the potential upward movement.

If the pattern holds true, the SHIB price is set for another 8% surge to challenge the $ 0.00002 neckline resistance of the In H&S pattern. A successful flip above the overhead resistance will accelerate the bullish momentum and set the dog-themed memecoin for a promising 48% rally to hit $0.00003.

Shiba Inu PriceShiba Inu Price
SHIB/USDT -1d Chart

A potential bullish crossover between the 50-and-100-day EMA strongly supports the narrative of the SHIB price breakout.

Trader Attention Shifts to Meme Coins as BTC Targets $70K

According to santiment analysis, the meme coins such as Dogecoin and Shiba Inu are drawing the most attention from traders, with social discussion rates reaching their highest levels in five months. 

As the Bitcoin price heads to $70,000, speculative traders are increasingly focusing on high-leverage meme coins. However, the layer-2 coins, such as Arbitrum and Optimism, are being largely overlooked.

However, the historical trend shows that crypto assets often move in the opposite direction from the major market sentiment. Therefore, the top meme coins may prolong their current recovery, but the risk of bearish reversal remains intact.

If the Shiba Inu price witnessed renewed supply pressure at $0.00002, the sellers could force the asset for an extended consolidation.

Frequently Asked Questions (FAQs)

The Shiba Inu price is forming an inverted head and shoulders (In H&S) pattern, signaling the end of its correction

The SHIB price is being supported by the 20-day exponential moving average (EMA), and a potential bullish crossover between the 50- and 100-day EMAs further strengthens the case for a breakout

If the Shiba Inu price faces renewed selling pressure at the $0.00002 resistance level, it could lead to extended consolidation, delaying the expected rally

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

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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ADA Price

Analyst Says Cardano Price Is “Bottoming” After Hitting Two-Year Low

Published

1 day ago

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October 18, 2024

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Except for the brief rally in early 2024, Cardano has been on a downtrend since its all-time high (ATH) of $3.1 in August 2021. ADA currently trades at $0.347, a level that was last seen two years ago. However, market analysts are suggesting that Cardano price could be forming a long-term bottom, hinting at a potential reversal and the start of a bull rally. However, investors should remain cautious as Bitcoin faces a tough resistance level of around $67,000 and could disrupt altcoin moves.

Why is Cardano Price Down Today?

ADA price today is down 0.2% in the last 24 hours and trades at $0.3476. This bearish outlook for Cardano is not localized and can be seen across the board. This can be attributed to capital rotation into Bitcoin as it approaches key levels and hints at a breakout form its seven-month consolidation. As a result, top altcoins tend to slide lower as investors allocate capital into BTC, a less risky bet than alternative cryptocurrencies.

ADAADA

Regardless, let’s take a look at Cardano price form a long-term perspective and see if it is bottoming.

Analyst Says Cardano Price Could be “Bottoming”?

Analyst Sam Mti noted that the ADA price could be bottoming out on the weekly after hitting a two-year low. However, the early Bitcoin trader said he was not interested in investing in the asset as there was no “buy signal.”

ADAADA

Considering that ADA is down 90% from its ATH, the chances that a bottom could be forming is higher. However, a breakout rally might occur soon. 

ADA Price Analysis: What’s Next For Cardano?

Cardano price action seems to be consolidating after hitting the bottom, which is a classic sign of accumulation. In comparison, Chainlink (right) underwent an accumulation for about 1 year before finally breaking out to the upside.

 

ada vs linkada vs link

Cardano underwent significant changes in 2024, including the Chang hard fork, which converted ADA into a governance token, and the successful demonstration of Hydra’s speed on the DOOM game at the Rare Evo 2024 blockchain conference.

Nevertheless, despite these huge milestones for the network, ADA price performance has been underwhelming. 

Cardano price is in a Wyckoff accumulation phase, which typically precedes a bullish move.  The price has been moving horizontally, oscillating between a demand zone around $0.30 and a supply zone near $0.40.

This kind of price action indicates accumulation, where smart money is quietly buying up tokens before a potential bullish breakout.

Accumulation phases can take time to complete as the asset consolidates within the range before building momentum for a breakout.

In the short term, the price is likely to continue oscillating between these two levels. If the accumulation pattern continues, we can expect a breakout above the $0.42 level, which could lead to a bullish rally targeting levels as high as $0.50 or beyond.

The relative strength index (RSI) is currently around 46, which is neutral. This indicates that the price has room to move either upward or downward in the short term. It’s neither overbought nor oversold, allowing for further consolidation or the beginning of an upward move.

Cardano PriceCardano Price
Cardano Price Analysis Chart

If the Cardano price breaks below $0.31, it could trigger a larger bearish move, with potential targets at $0.27, $0.24, $0.22, and possibly lower. This would invalidate the current neutral-to-bullish thesis and confirm the completion of the accumulation phase.

Frequently Asked Questions (FAQs)

Cardano price action has been independent of Bitcoin’s recent performance. ADA’s decline can be attributed to a mix of market conditions and investor sentiment.

According to some analysts, including early Bitcoin trader Sam Mti, Cardano’s price may be “bottoming out” after reaching a two-year low.

Analysts are cautiously optimistic but suggest waiting for clearer buy signals. While some signs indicate the price may be bottoming out, there’s still a risk of further dips.

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Evans Karanja

Evans Karanja is a crypto analyst and journalist with a deep focus on blockchain technology, cryptocurrency, and the video gaming industry. His extensive experience includes collaborating with various startups to deliver insightful and high-quality analyses that resonate with their target audiences. As an avid crypto trader and investor, Evans is passionate about the transformative potential of blockchain across diverse sectors. Outside of his professional pursuits, he enjoys playing video games and exploring scenic waterfalls.

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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