XRP, the native cryptocurrency of the XRP Ledger, has recently experienced a significant surge in value, gaining 11% over the past week. This impressive growth has positioned XRP as one of the top-performing digital assets in the market, with its price rising from $0.523 to $0.584 in a week. The increase in value has been accompanied by a substantial rise in trading volume, indicating strong investor interest and activity.
Several factors have contributed to this rapid growth. One of the key drivers is the anticipation of a major breakout in XRP’s price history. Market analysts and investors are closely watching XRP, expecting it to surpass key resistance levels and achieve new highs. This optimism is fueled by positive developments in Ripple’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC), which has seen favorable rulings for Ripple in recent months.
Ripple is the company behind the XRP Ledger, a decentralized blockchain technology that facilitates fast and cost-effective cross-border transactions. The XRP Ledger’s unique features, such as its ability to settle transactions in less than five seconds and at a fraction of the cost of traditional methods, continue to attract both institutional and retail investors. These technological advancements and strategic partnerships with various financial institutions further solidify XRP’s position in the market.
As a result, XRP remains a prominent player in the cryptocurrency space, with its recent performance underscoring its potential for future growth. With ongoing legal developments and strategic initiatives, XRP’s trajectory appears promising, making it a cryptocurrency to watch in the coming months. Investors are eagerly awaiting the next moves in the market, hoping to capitalize on XRP’s potential for further gains.
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WE CAN SEE $400K BITCOIN IN 2022 EASY, SAYS JACK MALLERS, I THINK WE’RE GOING WELL INTO 6-FIGURES!!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Strike CEO Jack Mallers shares his bullish Bitcoin price predictions with Anthony Pompliano on The Best Business Show Podcast.
“I think we’re going well into the 6-figures, when it happens I don’t care. I think within the next 12 months we’ll see well over $100,000 BTC very easily. I expect $100K to $250K, maybe $400K Bitcoin in the year 2022 easy.”
And on the Bitcoin network side of things regarding the relationship between Twitter and Strike he elaborates:
“In addition to the services currently enabled through Tips, people can now seamlessly tip with Bitcoin using Strike – a payments application built on the Bitcoin Lightning Network that allows people to send and receive Bitcoin. Strike offers instant and free payments globally.”
In other trending Bitcoin News today:
On-Chain Data Shows Bitcoin Supply Will Not Be Able To Meet Demand: Glassnode Co-Founder!
The firm’s latest data shows nearly 2,000,000 BTC has shifted from short-term to long-term holders since April of this year.
Glassnode’s Rafael Schultze-Kraft says the data clearly shows “supply will not be able to match demand.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Watch Jack Mallers Send $10 To El Salvador Via Twitter’s Lightning Tips
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THE UPSIDE OF BUYING BITCOIN TODAY IS STILL 80X HUGE, THE RISK HAS NEVER BEEN LOWER SAYS MAX KEISER!
➡️ Leverage OPM (Other People’s Money): http://opm.cryptonewsalerts.net
“Just to be clear, the risk of buying Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x. This is why institutions are pouring in now. The risk has never been lower”, says BTC pioneer Max Keiser, host of the Keiser Report.
As Bitcoin Tina tweeted: “If you don’t understand how fast Bitcoin can be repriced you don’t understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September. Bitcoin could reprice from 20K range to 75K range between now and February.”
Max Keiser responded with: “This is true. In fact, I expect it. The risk reward ratio for Bitcoin right now is; you’re risking 1 to make 100. The risk/reward has actually NEVER BEEN BETTER.”
In other trending Bitcoin News today:
Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
An SEC filing on Friday indicates that the next Wall Street institution to take a public position in Bitcoin may also be among the largest yet: the $275 billion financial services firm Guggenheim Partners.
The Guggenheim filing allows the Macro Opportunities fund to purchase GBTC, a publicly-traded Bitcoin investment vehicle from Grayscale, at an indeterminate point in the future.
“The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”),” the filing reads.
According to independent ratings firm Morningstar, the Guggenheim Macro Opportunities fund currently has $5.3 billion in assets under management and sports a four-star rating “based on risk-adjusted returns out of 270 Nontraditional Bond funds.”
Guggenheim describes the overall fund strategy for the institutional-grade shares (ticker: GIOIX) as a product of the investment team’s “highest-conviction ideas.” If the fund were to take the full 10% stake in GBTC, it would be worth north of $500 million.
The filing also notes a long list of potential investor risks associated with cryptocurrencies, which it refers to as “digital assets designed to act as a medium of exchange.”
Risks include lack of cryptocurrency exchange regulation, GBTC’s historical “significant premium” to net asset value, and uncertainty regarding tax laws and regulations, among others.
This preparatory move by Guggenheim appears to be part of a cascading series of investments indicating increased acceptance of Bitcoin among major financial institutions.
In August, business intelligence firm Microstrategy purchased nearly 40,000 Bitcoin, leading to a parabolic move in share price. Likewise, financial services firm Square, Inc bought $50 million in Bitcoin in October.
This rolling snowball of institution interest may quickly become an avalanche, as noted by one prominent voice in crypto journalism:
“2016: The institutions are coming! 2017: The institutions are coming! 2018: The institutions are coming! 2019: The institutions are coming! 2020: The institutions are here! 2021: Dammit, the institutions bought all the Bitcoin”
In other trending Crypto News today:
Weekend Bull Trap? Traders Remain Cautious As Bitcoin Price Rebounds to $18K
The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.
Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
2016: The institutions are coming!2017: The institutions are coming!2018: The institutions are coming!2019: The institutions are coming!2020: The institutions are here!
2021: Dammit, the institutions bought all the #Bitcoin
— Jon Rice (@JonRiceCrypto) October 17, 2020
Just to be clear, the risk of buying #Bitcoin today HAS NEVER BEEN LOWER and the upside is still huge, like 80x
This is why institutions are pouring in now. The risk has never been lower. https://t.co/LlPemmn4Zk
— Max Keiser (@maxkeiser) November 29, 2020
If you don’t understand how fast #bitcoin can be repriced you don’t understand how markets work. TSLA went from the 150 range to the 450 range from the end of May to the middle of September.#bitcoin could reprice from 20K range to 75K range between now and February. pic.twitter.com/kMABvU0AsJ
— BitcoinTina☣️- “TINA” #bitcoin (@BitcoinTina) November 28, 2020
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BITCOIN (BTC) FUND MANAGER: Crypto Could Soon Rally 4,000% To A Trillion Market Cap
➡️ Teeka Tiwari – Investment of the Decade: http://2020.cryptonewsalerts.net
Bitcoin (BTC) and other top crypto assets are trading far from their all-time highs.
According to data from TradingView, BTC is trading more than 50% below its all-time high, while Ethereum is down nearly 85%.
Most altcoins have registered even worst performances than the two market leaders, crushed as large players cashed out of the market during the 2017/2018 bubble.
Yet this hasn’t stopped investors from speculating where this nascent market could end up once the next market cycle peaks.
CRYPTO COULD HIT $10 TRILLION AS RETAIL MONEY FLOODS IN
According to Joseph Todaro — managing partner of crypto-centric fund Blocktown Capital — the crypto market’s capitalization could reach over $10 trillion in the next cycle as “retail money really starts flowing back in.”
$10 trillion is approximately 4,000% higher than the current aggregate value of digital assets at around $270 billion.
“When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top”
In context, $10 trillion is a fair sum of value in the grand scheme of things.
Blockforce Capital chief executive Eric Ervin shared the chart below on June 9th, showing that the total market capitalization of the S&P 500 is $27.8 trillion.
At $10 trillion, crypto would be just over one-third of the current value of some of the most valuable companies in the world, including Apple, Microsoft, Facebook, and Amazon. $10 trillion is also around 50% of the U.S.’s national GDP in 2019 or around 10-12% of the global GDP.
Importantly, though, just because crypto’s market cap may reach $10 trillion may not mean that $10 trillion greenbacks have been deposited into Bitcoin exchanges.
Due to what is known as a fiat amplifier, which means that $1 worth of Bitcoin purchased may push up its market cap by more than $1, a $10 trillion industry may not be as hard to achieve as some may expect.
The expectation is that all cryptocurrencies will rally in the upcoming market cycle, but prominent names in the space expect the gains to be concentrated in Bitcoin.
Raoul Pal, chief executive of Real Vision and a former Goldman Sachs executive, has spoken on the matter on a number of occasions.
The investment veteran has said that he sees a world of cryptocurrency and blockchain as the future, but sees Bitcoin as the “call option” on that potential world coming to fruition.
That’s to say, if cryptocurrencies go mainstream, BTC will likely be the one leading the charge.
In other trending Bitcoin News today:
Bombshell Report Shows 36% of Institutional Investors Already Own Crypto Assets Such As Bitcoin and Ethereum
A new survey from the global asset management giant Fidelity shows 36% of institutional investors already own crypto assets.
Four out of five investors who are not yet in the market say they’re interested in holding cryptocurrency in the future and find at least one aspect of the emerging technology appealing.
“Almost 80% of institutional investors find something appealing about digital assets, with the three almost equally compelling characteristics across U.S. and European investors being: uncorrelated to other asset classes (36%); an innovative technology play (34%); and high potential upside (33%).”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
When retail money really starts flowing back into crypto I wouldn’t be surprised to see a $10T+ market top
— Joseph Todaro (@JosephTodaro_) June 10, 2020
Fund Manager: Crypto Could Soon Rally 4,000% to a $10 Trillion Market Cap
https://cointelegraph.com/news/report-less-than-6-accounts-control-80-of-wealth-on-top-stablecoins
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