24/7 Cryptocurrency News
XRP Price Skyrockets To 2-Year High, What Next?
Published
2 hours agoon
By
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.
Source link
You may like
Jack Mallers New Video About Bitcoin Scarcity is Right on the Money!
Ethereum ETFs Are Thriving Amid ‘Overdue Excitement’ and Rising Optimism: Analysts
Flockerz presale crosses $1.8 Million; geared to be the best meme coin investment
The Consensus Conundrum
The Many Ways Crypto Won in This Election
Bybit brings bbSOL yield to more users via key DeFi integrations
24/7 Cryptocurrency News
How Many Solana Tokens Make You A Crypto Millionaire?
Published
14 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.
Source link
24/7 Cryptocurrency News
How Bitcoin Reserve Will Cut US National Debt by $16 Trillion? Michael Saylor Explains
Published
19 hours 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.
Source link
24/7 Cryptocurrency News
Is Shiba Inu Price Rally At Risk? Whale Moves 4 Trillion SHIB
Published
23 hours agoon
November 15, 2024By
adminShiba Inu (SHIB) price has been in a bullish rally over the last 24 hours, reaching an intraday high of $0.00002668 before encountering resistance. However, with the Federal Reserve signaling a steady stance on interest rates, some investors are now questioning whether SHIB’s rally can sustain its momentum or if a pullback is on the horizon.
Is Shiba Inu Price Rally at Risk?
A substantial transfer of 4 trillion SHIB tokens, valued at approximately $99 million, occurred between two unknown wallets, stirring speculation in the cryptocurrency community. Large whale transactions often lead to market volatility as they can signal an intention to sell or shift positions.
When whales move massive amounts of tokens, it tends to create anxiety among smaller investors, who fear that these moves might trigger a sell-off.
🚨 🚨 🚨 🚨 4,000,000,000,000 #SHIB (99,005,333 USD) transferred from unknown wallet to unknown wallethttps://t.co/Qz6SULjznA
— Whale Alert (@whale_alert) November 14, 2024
Market analysts suggest that the transfer’s timing, coinciding with the SHIB price recent rally, could lead to increased caution among investors. Post this transaction, SHIB price has nosedived almost 5% with the market capitalization dipping 5.30% to $14.19B.
Federal Reserve’s Cautious Stance on Rate Cuts Impacts Sentiment
Federal Reserve Chairman Jerome Powell recently stated that the U.S. economy shows no immediate signs of requiring rate cuts, allowing the Fed to “approach decisions carefully.” This announcement has dampened expectations of a December rate cut, with CME FedWatch data showing a decline in rate cut probability from 83% to 62%.
Powell’s remarks led to a minor downturn in crypto markets as investors weighed the implications for digital assets, which often benefit from low-interest-rate environments.
Following the speech, Bitcoin dropped by 1.5%, falling to $87,751, while Ethereum and SHIB experienced similar declines, with SHIB slipping 2.5% to $0.00002469. The Fed’s cautious approach may keep some investors away from high-risk assets, potentially slowing SHIB’s upward momentum.
Technical Indicators Suggest Mixed Outlook for SHIB
Technical analysis shows that SHIB is currently facing significant resistance around the $0.00002600 level. This price point has acted as a barrier in recent days, with SHIB struggling to maintain momentum beyond this threshold. On the downside, SHIB has support at approximately $0.00002480, where the price has consistently rebounded in past sessions.
The 50-day Simple Moving Average (SMA) has risen above the 200-day SMA, forming a “Golden Cross,” which is generally seen as a bullish signal. However, the Relative Strength Index (RSI) at 66.59 indicates that SHIB is nearing overbought conditions, suggesting that the current rally could be due for a correction. Meanwhile, the Money Flow Index (MFI) at 47.32 shows moderate buying pressure, pointing to a balanced market sentiment without a clear directional bias.
Amid this price downturn, trading volume for SHIB has decreased by over 50%, suggesting reduced interest or activity in SHIB derivatives, which could signal diminishing momentum. Additionally, open interest in SHIB contracts has declined by nearly 3%, hinting that traders may be closing positions rather than opening new ones.
Despite this, Shiba Inu’s marketing lead, Lucie, has expressed confidence in the token’s potential, predicting a possible rally to $0.00006. Concurrently, according to a Shiba Inu price prediction should this bullish momentum build up, a rally towards reach $0.0001 may be looming.
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.
Source link
Jack Mallers New Video About Bitcoin Scarcity is Right on the Money!
Ethereum ETFs Are Thriving Amid ‘Overdue Excitement’ and Rising Optimism: Analysts
Flockerz presale crosses $1.8 Million; geared to be the best meme coin investment
XRP Price Skyrockets To 2-Year High, What Next?
The Consensus Conundrum
The Many Ways Crypto Won in This Election
Bybit brings bbSOL yield to more users via key DeFi integrations
4 Crypto That Could Explode in November?
MicroStrategy's Bitcoin Strategy Won't Work As Well for Other Companies
How Low Can Dogecoin Go Before Rallying Again?
Hedera’s HBAR momentum has just began, analyst says
Here’s Why Shiba Inu Price is About to Start Parabolic Phase
See How Fast Your Savings and Salary Are Collapsing Against Bitcoin
Crypto Analyst Says Bitcoin’s Parabolic Phase Has Begun, Outlines Time Left Before BTC Hits the Bull Market Peak
Michael Saylor predicts Bitcoin will soar to $100k amid Trump’s pro-crypto administration
182267361726451435
Top Crypto News Headlines of The Week
Why Did Trump Change His Mind on Bitcoin?
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum, Solana touch key levels as Bitcoin spikes
Bitcoin Open-Source Development Takes The Stage In Nashville
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Washington financial watchdog warns of scam involving fake crypto ‘professors’
Citigroup Executive Steps Down To Explore Crypto
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Trending
- 2 months ago
182267361726451435
- 24/7 Cryptocurrency News3 months ago
Top Crypto News Headlines of The Week
- Donald Trump4 months ago
Why Did Trump Change His Mind on Bitcoin?
- News2 months ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Bitcoin4 months ago
Ethereum, Solana touch key levels as Bitcoin spikes
- Opinion4 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Bitcoin4 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- Price analysis3 months ago
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
✓ Share: