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Ripple CEO Garlinghouse Highlights Reason Behind XRP Rally
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5 hours agoon
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adminRipple CEO Brad Garlinghouse has linked the recent surge in XRP price to growing optimism about regulatory clarity in the U.S. In an interview with FOX Business, Garlinghouse emphasized the importance of a more balanced approach to crypto regulation under the new administration. He noted that U.S.-linked cryptocurrencies, including Solana (SOL) and Cardano (ADA), have experienced significant growth since Election Day.
Ripple CEO Lauds Trump as a “Crypto President” Amid XRP 70% Surge
Ripple CEO Brad Garlinghouse described the post-election environment as transformative for the cryptocurrency sector, crediting pro-crypto policies for the 70% rise in XRP value. The CEO referred to President-elect Donald Trump as a “crypto president,” praising his openness to blockchain innovation and entrepreneurship.
Brad remarked,
“The crypto industry has embraced Trump, Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship and I’m very excited about what the future holds.”
Garlinghouse highlighted that U.S.-linked crypto assets, such as XRP, SOL, and ADA, have outperformed other tokens due to the expected easing of regulatory pressure. He attributed the rally to reduced constraints from the U.S. Securities and Exchange Commission (SEC), whose actions had stifled growth. The Ripple CEO stated,
“The United States SEC has been manipulating and putting pressure on these US companies, US technologies, and now that pressure comes off and they explode upwards.”
XRP Price Rally Amid Bullish Sentiment
The XRP Price has reached a two-year high of $0.9193, driven by market optimism and key developments like Robinhood’s relisting of the token. Analysts suggest this surge aligns with a breakout from a symmetrical triangle pattern, signaling strong bullish momentum.
Market sentiment has also been boosted by a wave of institutional interest and increased trading activity. XRP is now approaching a critical resistance level at $1.00, with analysts forecasting further gains if this barrier is breached. Projections indicate a possible XRP price prediction of $1.5.
Whale Activity and Institutional Interest Drive Derivatives Market
In addition, the derivatives market for XRP has experienced a surge in activity, with open interest rising by 13% to $1.5 billion. This uptick is attributed to increased whale activity, including a transaction involving 60 million XRP worth $52.8 million. Such movements often suggest institutional trading or large-scale investment strategies.
🚨 🚨 🚨 60,000,000 #XRP (52,820,542 USD) transferred from unknown wallet to unknown wallethttps://t.co/ctufJ8AtVl
— Whale Alert (@whale_alert) November 15, 2024
Moreover, trading volume saw a sharp increase, climbing 25% in the past 24 hours to $11.70 billion. These metrics underscore growing speculative interest and optimism about XRP future performance in a more favorable regulatory environment.
More so, Ripple CEO expressed enthusiasm about the shifting regulatory landscape citing ongoing lawsuits and challenges. He welcomed the involvement of 18 state attorneys general who filed a lawsuit accusing the SEC of overreach in crypto regulation.
At press time, XRP is trading at $0.89, marking a 14% increase in the last 24 hours. The trading volume surged to $11.65 billion while the market cap stands at $50.80 billion.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
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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XRP Price Skyrockets To 2-Year High, What Next?
Published
9 hours agoon
November 15, 2024By
adminXRP price has surged to $0.91, marking its highest level in two years. This bullish momentum comes amid growing trading volume, legal developments, and regulatory shifts in the cryptocurrency market.
XRP Price Skyrockets To 2-Year High
XRP’s recent price surge is being attributed to a breakout from a symmetrical triangle pattern on its price chart. This pattern is often associated with strong price movements in either direction and in XRP’s case, the breakout has been upward.
Analysts have pointed to similarities with XRP’s price behavior in 2017, with some projecting targets of $1.96 by the end of the month and $4.80 by late 2024 if the trend holds.
The increase in XRP’s price is backed by heightened market activity. Trading volume has risen by over 126% in the past 24 hours, reaching $17.57 billion. Open interest in XRP derivatives has also grown by 12%, indicating that traders are placing new bets on further price movements.
Whale activity has also increased, with large transactions being reported on-chain. A transfer of 60 million XRP, valued at approximately $52.8 million, between unknown wallets was flagged by Whale Alert. Such activity often signals institutional involvement or preparations for significant market moves.
Ripple Labs Vs SEC Major Development
Ongoing legal disputes between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) have played a pivotal role in XRP’s recent performance. A court order was recently granted in favor of Ripple Labs, CEO Brad Garlinghouse, and XRP II LLC, affirming a joint request for final judgment and a stay on certain claims.
The SEC, led by Chair Gary Gensler, has faced mounting criticism for its regulatory approach toward digital assets. A lawsuit filed by 18 U.S. states against the SEC alleges unconstitutional overreach in crypto regulation. Market participants are optimistic that these developments could lead to a resolution of Ripple’s legal challenges and provide regulatory clarity for XRP.
ALERT: @xrp shooting higher as a brigade of GOP attorneys general sue the SEC for alleged regulatory overreach of #crypto. EXCLUSIVE reaction 3:30pET w/ @Ripple CEO @bgarlinghouse, Do not miss it! @EleanorTerrett
— Liz Claman (@LizClaman) November 15, 2024
Ripple CEO Brad Garlinghouse commented on social media regarding recent industry milestones, including Bitwise’s ETF filing that includes XRP exposure. “XRP, BTC, ETH, SOL — that’s the alphabet soup I like to see,” he stated. Legal clarity for XRP could pave the way for broader adoption of Ripple’s technology and the XRP Ledger.
What’s Next for The XRP Price?
XRP price is now testing key resistance levels near $1.00, a psychological and technical milestone for the digital asset.
Analysts suggest that if XRP can maintain momentum and break above $1.00, the next target could be $1.32. Sustained trading volume and open interest will be critical for confirming the strength of this bullish trend.
Market watchers are also closely monitoring institutional activity on the XRP Ledger, with reports indicating that capital from other blockchain ecosystems may be entering XRPL.
If this trend continues, XRP could see further price appreciation and adoption in the coming months. At press time, XRP price was trading at $0.8909, a $14.45 surge from the intra-day low.
Regulatory Shifts Create Optimism for Crypto Market
The broader cryptocurrency market has also gained momentum, with its total market capitalization nearing the all-time high set in 2021. XRP’s performance appears to benefit from this overall market enthusiasm, as well as regulatory optimism.
The resignation of Gary Gensler as SEC Chair has been widely speculated following the U.S. elections, with crypto commentators predicting a friendlier regulatory environment under new leadership. Grayscale and Bitwise have both filed applications for cryptocurrency ETFs that include XRP, reflecting growing confidence in the token’s future.
The deployment of new stablecoins on the XRP Ledger is also drawing attention. Societe Generale-Forge recently announced plans to integrate the EURCV stablecoin on the XRPL in 2025. This move aligns with the company’s strategy to operate across multiple blockchain protocols, having previously launched EURCV on Ethereum and Solana.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
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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How Many Solana Tokens Make You A Crypto Millionaire?
Published
21 hours agoon
November 15, 2024By
adminThe crypto community often presents millionaires here and there after their successful trading journey. However, many still question how many tokens, especially Solana tokens to buy to become a crypto millionaire. That actually depends on the market and hundreds of other factors. Before that, Solana is the perfect ecosystem to consider for this mission. It is highly progressive with many technological advantages and a growing community, With that, the developer has launched many Solana-based tokens which were highly profitable, making the entire ecosystem highly demandable among investors.
What Determines The Solana Tokens Million-Making Journey?
The crypto market is filled with complexities that keep it balanced and moving. Sometimes, it could be entirely bullish, as it is these days past the Bitcoin price rally, but the remaining could be the opposite. As a result, the crypto tokens are only sometimes bullish, so their performance alone does not make someone a millionaire. More importantly, with this big goal, the person needs more than just the right Solana tokens. The person needs to consider various factors like: –
1. Investment Capital
Beginning with the right step is the way to have the right ending, which is becoming a millionaire with cryptocurrency. However, this is such a big goal that it would require a higher starting investment to achieve this goal faster, as the higher the capital, the higher the gains. More importantly, this will allow the investor to invest in multiple Solana tokens to speed up the process, as some have higher potential in the short term, while many in the long term.
2. Single Token or Multiple Tokens
Another important aspect is the portfolio division, where many experienced investors recommend diversifying the portfolio (holding multiple cryptos). Having a diverse portfolio could help mitigate the risk and increase profits in this challenging market. So, this entire crypto millionaire journey would depend on the number of tokens someone has. Some achieve this with one token, while others need multiple, depending on their trading strategies.
3. Trade Timing
Timing is the strongest tool in crypto trading, where the trade’s timing could define what an investor would have at the end. In this, buying at a dip and selling at a high, despite the market volatility, crash, and hundreds of other hurdles, gives returns. Here, patience is the key. So, a patient investor with the right crypto strategy is the winner.
4. Crypto Tokens Performance
Last but not least, the chosen crypto tokens’ performance also plays an important role. As the Solana ecosystem has hundreds of tokens, choosing the right token with solid fundamentals, use case, and user interest describes future gains.
If investors made all the right decisions, considering the mentioned factors, they could achieve their crypto millionaire goals.
5 Top Solana Tokens To Watch
After analyzing past performance and market demand, Pnut, POPCAT, GOAT, SPX, and WIF are the top Solana tokens that could assist investors in their millionaires journey.
1. Peanut The Squirrel (Pnut)
Pnut is the most trending Solana meme coin, thanks to its 3350.71% surge over the last ten days. The token is new to the market but has already achieved $1.84B in market capitalization, making it the 55th biggest cryptocurrency. Additionally, it has just hit an ATH of $2.47, currently trading at $1.84. However, the biggest proof of its demand is its $3.29B in trading volume, which is quite high. If the trend and users’ sentiments stayed the same, it could offer further profits.
2. Popcat (POPCAT)
Popcat is one of the most demanded Solana tokens due to its 20237% in YTD. Even at present, it is quite bullish, as it has recently achieved the ATH of $2.00, currently trading at $1.65 with a market capitalization of $1.62B. This makes it the 58th top cryptocurrency, which brings $235.90M in trading volume. It is the perfect Solana crypto for long-term holdings, considering its performance.
3. Goatseus Maximus (GOAT)
GOAT is gaining attention in the crypto market after an AI bot, Truth Terminal, promoted this token. Ever since its launch, this trending memecoin has achieved a new ATH at $1.06 just yesterday after multiple bullish peaks over the month. It is now worth $0.8775 and is ranked 85 per CoinmarketCap for its market capitalization of $877.55M. With that, the analysts have foreseen the GOAT price to hit $5. If that happens, this Solana coin could assist in the crypto millionaire journey.
4. SPX6900 (SPX)
After hitting an ATH, the SPX6900 is again moving with the bulls, as the price has surged 18% in the last 24 hours. The Solana token is now trading at $0.6855 with a market capitalization of $638.20M. Additionally, its trading volume is at $46.73M, which has improved after facing a significant downtrend past the ATH. Overall, the token has surged 18610.91% in the last year and has been high since September 2024.
5. Dogwifhat (WIF)
WIF has been the top memecoin to buy since the beginning of the year, as it had maintained 1894% in YTD despite its earlier fall. Many Solana tokens are slowly returning to their potential with the ongoing market conditions, including WIF. The WIF price has surged 53% over the week. It is trading at $3.54 after achieving the biggest peak in seven months, at $4.5. Overall, WIF is still in high demand despite the falls and might follow a similar price rally as it did at the beginning of the year.
How Many Tokens Do You Need?
Even with the best Solana tokens in your portfolio, the biggest question is how many tokens some need to become a crypto billionaire. However, that depends on the token’s price, future growth perspective, and the portfolio division. If the selected token (A for example) is trading at $50 and has a growth rate of 2x, the investor will need at least 20,000 to become a crypto millionaire.
The token amount will vary depending on the price and growth perspective. If the token had high growth potential, the number could be less, as its growth percentage would compensate for that. In the same example, the token value is $50, but it could grow four times, so the investor would only need 10,000.
Last but not least, many analysts advise keeping a diversified portfolio. The users can opt to have a mix of high and low potential tokens in the right quantity to achieve the best profits.
Final Thoughts
Becoming a crypto millionaire with Solana tokens is a dream for many, but the process is not entirely simple. An investor cannot expect smooth and exponential growth in the investment due to market volatility, so it requires a strong trading strategy, a solid portfolio, and the knowledge of the market trends to analyze the future. Only those with these skills survive the market or make millions in just a day or few hours, like this crypto trader did, as he made $3M in just 1 hour with a new listing strategy.
Pooja Khardia
With a deep-seated passion for reading and five years of experience in content writing, Pooja is now focused on crafting trending content about cryptocurrency market.
As a dedicated crypto journalist, Pooja is constantly seeking out trending topics and informative statistics to create compelling pieces for crypto enthusiasts. Staying abreast of the latest trends and advancements in the field is an integral part of her daily routine, fueling a commitment to delivering timely and insightful coverage
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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How Bitcoin Reserve Will Cut US National Debt by $16 Trillion? Michael Saylor Explains
Published
1 day agoon
November 15, 2024By
adminMicroStrategy chairman Michael Saylor has once again stressed the importance of the US having a strategic Bitcoin Reserve. In his latest CNBC interview, Saylor said that accumulating one million Bitcoins over the next five years can help the government reduce the US national debt by a staggering $16 trillion i.e. over 45% of the existing debt.
Bitcoin Reserve to Reducing US National Debt
In his recent CNBC interview, Michael Saylor discussed the Red wave in the US elections and how Donald Trump’s victory can impact the crypto market. Besides, he also discussed MicroStrategy’s plans to raise $42 billion to buy additional Bitcoins.
Most importantly, Saylor believes that the US is most likely to have its own strategic Bitcoin reserve with a concrete plan in place very soon. Earlier this year during the Bitcoin 2024 conference in Nashville, President Donald Trump stated that he would make a plan for the US government to hold 200,000 Bitcoins as reserves.
Shortly afterward, Sen. Cynthia Lummis (R-Wyo.) introduced a bill proposing an increase in the country’s digital asset reserves. Moreover, she also shared a plan of accumulating one million tokens over a five-year period. In her recent comments on Thursday, Senator Lummis also proposed selling the Fed’s gold reserves partially to buy one million BTC.
If Sen. Lummis’ bill passes in its current form, the U.S. could realize a $16 trillion benefit from purchasing one million Bitcoin, according to Saylor. In his interview, the MicroStrategy executive chairman said:
“The best way to protect the dollar is make sure you retire the debt and become rich. The next best way to protect the dollar is to make sure that if anybody ever considers a different capital asset other than the treasury bill, you own it”. That asset is Bitcoin, he added.
Bitcoin is Manifest Destiny for the United States. My discussion of The Red Wave, MicroStrategy’s $42 Billion Plan, the compelling logic of the Strategic #Bitcoin Reserve, and getting ready for the 100K party, with @MorganLBrennan. pic.twitter.com/fvkwRnCzlU
— Michael Saylor⚡️ (@saylor) November 14, 2024
Michael Saylor Predicts Trump Max Case
Saylor highlighted that the U.S. acquiring strategic assets is not a new concept, citing some key asset purchases in the past. He also pointed out other strategic purchases throughout U.S. history, including gold, oil, grain, and helium, all of which have delivered multi-trillion-dollar in returns. In the latest such development, the Pennsylvania House passed a bill to build a state Bitcoin reserve. He added:
“You’re a nation, this is what nations do. … Bitcoin is manifest destiny for the United States. I think the Trump administration understands it, I think Senator Lummis understands it … that’s why it will happen.”
Saylor also outlined a “Trump Max” scenario, where the U.S. would purchase four million Bitcoins, a move he suggested could yield an $81 trillion return. According to Saylor, this “Trump Max” strategy represents the most “rational approach”.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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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