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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BLOOMBERG FORESEES BITCOIN RALLYING TO $400K THIS YEAR!! 5 COUNTRIES WILL LEGALIZE BTC IN 2022!!
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Bitcoin (BTC) To Reach $400k in 2021?
It may sound like a pretty outlandish claim for anyone to assert that the Bitcoin price could hit $400,000 before the end of the year. But when such a claim comes from a reputable analytics firm, it is worth paying attention to it.
Analysts at Bloomberg Crypto in a monthly report have predicted that BTC could soar up to new highs of $400,000, and this assertion is based around the historical price reaction to Bitcoin halving.
Bloomberg Crypto observed that, according to their analysis, Bitcoin is in an identical position with the events of 2013 and 2017, which are the years preceding a Bitcoin halving event.
During those years, Bitcoin increased its value 55 times and 15 times, respectively. If history repeats itself, âto reach price extremes akin to those years in 2021, the crypto would approach $400,000, based on the regression since 2011 high.â
In other trending Bitcoin News today: âAt least five countriesâ will accept Bitcoin as legal tender by 2022. â BitMEX CEO
Remittances, inflation, and politics: those are the three reasons why more nations could follow El Salvadorâs move next year.
âIf Brazil follows El Salvadorâs lead in making #Bitcoin legal tender, the consequences could be huge. El Salvador is a country with a population of 6.5 million people â Brazilâs population is more than 213 million.â
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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.
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WILL BITCOIN PRICE HIT ,000 POST HALVING?! | BTC Just Passed K Yet Again: What's Next?
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Many analysts asserted that 2020 would be a strong year for the Bitcoin price long before the current global economic crisis began.
Most notably, the flagship cryptocurrency was expected to jump after Mayâs block reward halving.
New data now suggest that these BTC predictions are still on-track.
Analyst PlanB continues to stand by the assertion that Bitcoinâs stock-to-flow ratio points to extremely high gains after the halving.
This metric is determined by comparing present inventory to production and is a common tool used to gauge the value of hard commodities such as precious metals.
PlanB has just tweeted:
âSo btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in May.â
Thus, although a prediction of USD $70k may seem outlandish, it would be perfectly in-line with previous gains for the flagship cryptocurrency.
Also, there is no doubt that the capital exists to drive Bitcoin this high, as well as the public interest.
In fact, government responses to the impending recession may make Bitcoin and other cryptocurrencies even more attractive.
A just-published article on HackerNoon asserts that the banks and legacy financial companies are all but certain to receive massive bailouts, just as they did in 2008.
However, unlike twelve years ago, the infuriated public has the opportunity to put their assets into crypto, which will boost prices.
Author Mark Helfman writes: âDonât underestimate the potential for this financial crisis to spur people into buying crypto and building businesses around crypto-based products, services, and processes.
People might get so angry that they look for an âoutâ that doesnât involve the banks, governments, and corporations.â
It is worth noting that Bitcoin was born out of frustration with central banks, and the U.S. governmentâs willingness to prop up incompetent and corrupt financial institutions.
It is safe to assume that a repeat of this cronyism would only drive more investors into the crypto space.
Market activity notwithstanding, the development and adoption of Bitcoin and other cryptocurrencies are rapidly taking place.
Of particular note is the institutional embrace of blockchain technology by a wide range of industrial sectors.
Also, whereas fiat remains strong for purchases, the world is increasingly turning to crypto for remissions and financial transfers.
It is these real-world use cases that will play a key role in driving up Bitcoinâs value.
In other words, the central bank-issued fiat must now compete with a new asset class that offers many clear advantages.
When placed in this context, predictions of much higher Bitcoin prices are very realistic.
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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.
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So #btc has been oscillating around S2F value of $7000 for 2.5 years now. Just like before 2016 halving ($300) and before 2012 halving ($6). Excited to see if we are going to add another zero after the halving in Mayđ pic.twitter.com/2pkCgOSAEN
â PlanB (@100trillionUSD) April 4, 2020
Bitcoin Just Passed $7,000 Yet Again: What Do Analysts Think Is Next?
Bitcoin Follows Pre-Bull Run Pattern That Sent Amazon Stocks Soaring
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BITCOIN (BTC) RALLIED 6,400% LAST TIME IT MADE THIS FORMATION, AND ITâS BACK AGAIN | Altcoin Rally
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Bitcoin isnât even past $10,000 â let alone the latest all-time high of $20,000 â but analysts are already craving the crypto marketâs next parabolic bull rally.
While this rally has yet to arrive, a prominent cryptocurrency chartist has indicated that itâs close.
He pointed to a crucial and rare technical formation that marked the start of Bitcoinâs last macro bull trend, which brought the BTC price from $200 to $20,000.
Depending on what chart you look at, today or within the next few days, Bitcoin will print what is known in technical analysis as a âgolden cross.â
Investopedia describes a golden cross as a âcandlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average.â
In BTCâs case, the 50-day simple moving average will cross above the 200-day simple moving average for the second time this year.
This golden cross is bullish in and of itself: golden crosses, as I analyzed, have historically led to massive gains for Bitcoin.
Yet the exact context the cross is taking place could signal even greater gains are in the works.
Analyst Nunya Bizniz recently shared the two charts below with the following comment, indicating that the last time Bitcoinâs 50 and 200-day moving averages looked as they do now, the cryptocurrency rallied 6,400%:
âBitcoin daily chart: for the first time during the 2015 lows, there was a golden cross, death cross, golden cross sequence that occurred all within the span of about 100 days. Price then rallied 6,400%. For the 2nd time at 2020 lows, this sequence has agains occurred within about 100 days.â
It isnât only this technical formation suggesting Bitcoin has another period of dramatic growth on its horizon.
Tuur Demeester â founding partner of Adamant Capital, a Bitcoin alpha hedge fund â recently shared that he thinks BTC is ready to rally towards the $50,000-100,000 range.
Such high prices may seem like a quixotic dream, sure, but according to the long-time industry analyst, a five-figure and six-figure BTC making more and more sense due to fundamentals.
Demeester specifically cited the ongoing macroeconomic environment as a way to back his prediction, zeroing in on the money printing by governments and central banks alike:
âI think a price target of like $50,000 is not insane at all, especially given just how crazy the money printing is. I would even say between $50,000-$100,000.â
In other trending Bitcoin News today:
Ethereum, Litecoin, Chainlink and 4 More Altcoins Poised for Major Rallies in New Market Cycle, Says Crypto Analyst DataDash
Crypto strategist Nicholas Merten is naming seven altcoins that he believes are in a good position to surge in a new bull market cycle.
On the latest episode of DataDash, the crypto analyst examines when the altcoin market may begin to turn around.
âWhat it looks like [Bitcoin is] doing is possibly coming up here to around $11,000, breaking out of this very long-term wedge, breaking out above resistance, and making it support for the next coming months. If [Bitcoin] can do this and start to trigger the next cycle, this is actually very good news for altcoins.â
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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:
BTC daily:For the 1st time during the 2015 lows there was a GC-DC-GC sequence that occurred all within the span of about 100 days.Price then rallied 6,400%.For the 2nd time at 2020 lows this GC-DC-GC pattern has again occurred within about 100 days.
Price will âŠâŠâŠâŠâŠ? pic.twitter.com/8i4V1EjQiY
â Nunya Bizniz (@Pladizow) May 18, 2020
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