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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BITCOIN TERMINAL VALUE IS REALLY $700K PER BTC, SAYS PANTERA CAPITAL CEO!!!!!
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One early Bitcoin investor has crunched the numbers on BTC, and thinks the leading crypto is looking mighty undervalued at the moment.Â
âWe did a study showing the number of people using Bitcoin over the years and price of Bitcoin. Both of those data series went up by an order of magnitude every two years. If that kept going, that would put BTC at $700,000 when everybody with a smartphone uses it. Ten years time is a reasonable forecast,â Pantera Capital founder Dan Morehead said on Yahoo Finance Live.Â
Morehead launched his first crypto fund back in 2013. Today, the firm has $2.8 billion in assets under management that spans venture investments and early stage token investments.Â
In other trending Bitcoin News today: MicroStrategy splashes $177M on Bitcoin, now holds almost 109,000 BTC!Â
MicroStrategyâs Bitcoin holdings are now worth more than $5.3 billion at the current BTC price.Â
With its latest purchase, Michael Saylorâs firm now holds 108,992 BTC, which cost the company about $2.918 billion to acquire at an average price of approximately $26,769 per âcoin.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:
https://cointelegraph.com/news/microstrategy-splashes-177m-on-bitcoin-now-holds-almost-109-000-btc
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BLOOMBERG: BITCOIN COULD HIT 0,000 OR DROP TO ZERO!! BTC CAN SURPASS #post_titleM IN THE NEXT 3-5 YEARS!!
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Bitcoin has the potential to surpass $1 million in the next three to five years, says Raoul Pal, calling BTC the âbiggest trade of our lifetimes.â
In Septemberâs crypto outlook newsletter, Bloombergâs analyst Mike McGlone observed that the Bitcoin price could either be heading to the $500,000 mark, or it could fail.
McGlone has continued to reiterate that in his view, Bitcoin is set to become digital gold.
He emphasized once again how Bitcoinâs limited supply and increasing demand were key adoption indicators, and drew comparisons to the 2017 bull run:
âMuch of the broad crypto-asset market echoes 2017âs excesses, but the foundation is firming due to expanding decentralized exchanges (DEXs) and finance (DeFi).
Limited supply vs. increasing demand is the bottom-line for Bitcoin, with macroeconomic underpinnings that support its march toward the market cap of gold, at a price of $500,000 by some estimates. Or it could fail.â
The estimates that the analyst refers to are likely based on assumptions that Bitcoinâs market capitalization will eventually reach parity with goldâs $9 trillion.
Dividing that number by the maximum supply of Bitcoin of 21 million produces $428,571.
A similar sentiment was recently voiced by The Morgan Creek Digital co-founder Anthony Pompliano.
Zero to five hundred thousand provide a pretty good margin of error, unlikely Bloomberg will be proven wrong anytime soon.
In other trending Bitcoin News today:
Bitcoin (BTC) Is the Best Reserve and Collateral Asset Ever Created, Says Global Macro Investor CEO
The CEO of Global Macro Investor, Raoul Pal, says Bitcoin (BTC) is the best reserve and collateral asset ever created.
In a new report on the leading cryptocurrency, the former Goldman Sachs hedge fund manager says he thinks BTC, with its permanently limited supply, is the âhardestâ form of money created.
He says as a reserve asset, it is superior to gold in every metric due to its decentralized nature and provable transaction history.
Pal, who predicted the 2008 financial crisis, notes that, in the current macroeconomic structure, government bonds serve as the âbottom of the pyramidâ in terms of collateral for the world and the U.S. Treasury.
âThat used to work just fine until the central banks became fearful of allowing the business cycle to run unimpeded. Thus, when debt loads became unsustainable, meaning that the weakest borrowers couldnât get access to enough collateral, instead of the price of collateral rising, thus forcing firms to go bust, central banks began to increase the supply of collateral and reserves (quantitative easing).â
However, this devalues the collateral over the longer term and leads to debt spirals, Pal explains. Bitcoin, however, doesnât have this problem, according to the investor.
âBitcoin is pristine collateral. The greatest form of collateral. Its blockchain ownership structure reduces the huge black swan of risk of who owns what. It is all recorded and more importantly, provable.â
Pal notes that all BTC needs to become the preeminent form of collateral is a yield curve indicating future value, something that is already happening with the breakout of decentralized finance (DeFi).
âThe revolution in DeFi is doing just that, establishing a forward curve of future value. It is only at the money-market phase right now (short-term yield curve) but over time we will establish the time preference for Bitcoin over 30 years or more, just like bonds.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:
In the post-Halving bull cycles, bitcoin can often correct 25% (even 40% + in 2017), throwing off the short-term traders (or giving swing traders a shot at the short side). Each of those was a buying opportunity. DCA opportunity ahead? đđ€#Bitcoin pic.twitter.com/tL443DyX63
â Raoul Pal (@RaoulGMI) September 3, 2020
I wrote a very long GMI Monthly this weekend (143 pages, 15,500 words). The core focus was this month on crypto, which I think its the worlds best trade and of which Im irresponsibly long.
Here are a couple of pages with some top-down thoughts.. #Bitcoin pic.twitter.com/xltojJtQn1
â Raoul Pal (@RaoulGMI) August 31, 2020
https://cointelegraph.com/news/bloomberg-bitcoin-could-hit-500k-or-drop-to-zero
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BITCOIN TANKS AFTER OILâS COLOSSAL COLLAPSE, BUT THE BULL CASE REMAINS STRONG | BTC News Today
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#Bitcoin was in for a surprise plunge this Monday as investors assessed the situation in a worrisome oil market.
The #BTC price fell by 4.30 percent to circa $6,748 per token shortly after the US oil futures price slipped into negative territory for the first time.
The two assets remain non-correlated, but Bitcoinâs growing correspondence to the stock market amid the fast-spreading coronavirus pandemic might have led to the Bitcoin price decline.
The Dow Jones Industrial Average slipped 2.4 percent to 23650.44 on Monday, taking cues from the oil market.
The S&P 500 and Nasdaq Composite, too, plunged by 1.8 percent and 1 percent, respectively, showing that investors continued to seek safety away from risk-on assets.
TECHNICAL ADVANTAGE FOR BITCOIN BULLS
Bitcoinâs intraday fall did not stop its prices from holding its prevailing uptrend.
The cryptocurrency plunged right into what appears like its interim support before attempting a minor pullback heading into the Asian session Tuesday.
As shown in the Coinbase 1D chart above, bitcoin tested the upward sloping support trendline of the saffroned Ascending Channel.
The cryptocurrency bounced back weakly by 1.01 percent to hit an intraday high near $6,925, expressing its likelihood to consolidate further in the current resistance range defined by $6,800-lows and $7,500-highs.
Meanwhile, the price located converging support in the blue 50-daily moving average wave.
Bulls attempted to maintain bitcoinâs interim upside bias near these support levels, confirming that they still have a technical advantage against a dwindling macroeconomic outlook.
âPeople say bitcoin is wild,â commented Frank Chapporra, a former Nasdaq reporter. âThroughout this [coronavirus] crisis, weâve seen spine-tingling equity volatility, Treasury yields hit record lows, oil prices fall below zero, unprecedented Fed printing and bond purchasing. Right now, bitcoin might be more stable than anything else.â
In other trending #BitcoinNews today:
Low Adoption Puts Bitcoin Price âExpectationsâ at Risk â Peter Brandt
As prices stick around $7,000, Brandt appeared to get cold feet over the still marginal role that Bitcoin has in the corporate realm.
Bitcoin (BTC) may not be âliving up to expectations,â one of its best-known supporters from the finance world has warned as prices stagnate.
In a Twitter discussion on April 20, Peter Brandt pointed to low corporate interaction as an indicator that Bitcoin was not having the revolutionary impact its supporters hoped for.
âI understand the bullish narrative for $BTC relative to the: Fables of the Feds and their Frivolous Fiats: The argument for the moon makes sense. My only question is whether Bitcoin is actually living up to its high expectations. This question does NOT make me a haterâ
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đ„ [IMPORTANT] â Secure your crypto with a Trezor or Ledger hardware wallet:
Trezor: âș http://trezor.cryptonewsalerts.net
Ledger: âș http://ledger.cryptonewsalerts.net
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:
I understand the bullish narrative for $BTC relative to the: Fables of the Feds and their Frivolous FiatsThe argument for the moon makes sense
My only question is whether Bitcoin is actually living up to its high expectations. This question does NOT make me a hater
â Peter Brandt (@PeterLBrandt) April 20, 2020
https://cointelegraph.com/news/low-adoption-puts-bitcoin-price-expectations-at-risk-peter-brandt
Post Views: 194