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Will XRP Price Touch $2 Post Ripple Stablecoin Launch?

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3 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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Price analysis

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

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13 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

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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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5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week

Published

2 days ago

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October 17, 2024

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The cryptocurrency market is witnessing significant shifts, with several digital assets showing potential for rapid gains. Investors, particularly those focusing on smart money cryptocurrencies, could turn $100 into $10,000 this week. However, it is essential to note that these investments are highly speculative. While the opportunity for substantial returns exists, there is also the risk that they could lose all their value.

Smart Money Cryptocurrencies To Turn $100 to $10000

The crypto market is heating up, with Bitcoin approaching $70,000 and Ethereum targeting $3,000. As major coins surge, savvy money cryptocurrency investors are turning to altcoins with high potential. Meme coins, though highly volatile, may also see movement. Here are five speculative cryptocurrencies that could turn $100 into $10,000 this week.

Goatseus Maximus (GOAT) 

Goatseus Maximus (GOAT) token has quickly gained attention since its launch on October 10 via the pump.fun platform. Since its debut, GOAT has surged by over 177%, catching the eye of investors. 

In the past 24 hours, the GOAT price has jumped 14%, trading at $0.2938. This makes it one of the standout cryptocurrencies for smart money, with the potential to turn $100 into $10,000 this week.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
GOAT Price Chart

Billy (BILLY) 

Billy (BILLY) price has continued to surprise the crypto community with impressive gains. In the last month, BILLY surged by 22%, delivering strong profits for investors. Listed just four months ago, the meme coin has risen 89% over the past 30 days. 

Currently priced at $0.040119, BILLY saw a 10% decrease in the past 24 hours. Despite the volatility, BILLY remains among the smart money cryptocurrencies that could turn a $100 investment into $10,000 this week. However, risks remain high in this speculative market.

Apu Apustaja (APU)

Apu Apustaja (APU), or Peepo or Helper, is a Pepe-inspired meme coin symbolizing a younger, kinder frog character. Frustrated by low-effort meme coins and deceptive developers, Apu launched his fully transparent, fair coin: $APU. 

Currently priced at $0.000840, $APU has surged 3.74% in the last 24 hours and gained 255% over the past month. With this momentum, it’s emerging as one of the Smart Money Cryptocurrencies that could potentially turn $100 into $10,000 this week, although these investments remain speculative and carry high risks.

Popcat (POPCAT)

Popcat (POPCAT), a cat-themed meme altcoin, has surged 7,935% since its launch. Currently priced at $1.34, it saw a recent 10% increase, continuing its bullish trend. As one of the smart money cryptocurrencies, Popcat holds the potential to turn a $100 investment into significant profits this week.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
Source- Santiment

The percentage of stablecoin supply held by POPCAT whales, with over $5 million, has increased significantly. Analysts are watching the potential impact on liquidity and volatility as these holders gain control, which may influence the next phase of market growth and price movements.

MOG Coin (MOG)

MOG Coin (MOG), an Ethereum-based meme coin, is gaining traction with its unique, meme-driven approach. Currently priced at $0.000001941, MOG has seen a 3% rise in the last 24 hours. 

Since the start of the year, MOG has surged by an astounding 10,694%, making it a potential smart money cryptocurrency for rapid gains this week. With the current bullish trend, if the meme coin mounts more pressure, it could break above the key level, targeting $0.000002 to $0.000003 in the near term.

5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week5 Smart Money Cryptocurrencies That Could Turn $100 to $10000 This Week
Source: TradingView

Cryptocurrencies can provide impressive returns, but they come with significant risks. The five coins listed above have been spotlighted for their potential to turn $100 into $10,000 this week. However, investors should be aware that the speculative nature of the market could result in substantial losses, including the possibility of these tokens going to zero.

Frequently Asked Questions (FAQs)

Smart money cryptocurrencies refer to digital assets targeted by experienced or institutional investors due to their high potential for returns.

These cryptocurrencies often involve speculative or meme coins with volatile price movements, making them riskier but potentially more rewarding.

While it’s possible due to the volatility, these investments carry significant risks and the potential for substantial losses.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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