Crypto Trader Predicts XRP to Outperform Bitcoin in Bullish Rally
Crypto trader Kaleo is predicting a bullish trend for XRP, stating that the sixth-largest digital asset will outperform Bitcoin. He believes that XRP is ready for another leg up after successfully retesting its diagonal resistance as support. Kaleo compares XRP's potential rally to Tron's recent surge from $0.74 to $0.85 and suggests that XRP could reach $0.60+. Fellow crypto strategist Cantering Clark is also bullish on XRP and plans to accumulate the altcoin as he believes its price structure indicates an upcoming surge.
$XRP, $Lido DAO, and $Terra Classic Record Impressive Growth in the Past Week
The digital currency market is starting the new week on a positive note, with XRP, Lido DAO (LDO), and Terra Classic ($LUNC) showing impressive growth in the past 7 days. XRP has finally broken through the $0.5 resistance level and is currently trading at $0.54, with experts predicting that the outcome of the SEC lawsuit against Ripple Labs Inc. will have a major impact on its future price. Lido DAO's unique offering to compound investors' earnings has made it the dominant Liquid Staking Derivatives platform in the DeFi ecosystem, with its native token LDO experiencing a 13% growth in the past week. Terra Classic (LUNC) has been the best performer of the week, with a 26.24% increase in price to $0.000110, thanks to initiatives such as the implementation of a 1.2% burn tax to revive the token's value.
XRP Sees $2 Billion Influx, Potential Price Trajectory in 2023, Investors Should Consider Ecoterra and WSM
Ripple's XRP has received a $2 billion influx of capital, leading to speculation about its potential price trajectory in 2023. Technical indicators suggest a slightly bullish sentiment, but predicting exact price movements is difficult. Investors should be cautious and consider diversifying their portfolios with alternative options such as WSM and Ecoterra, which offer unique features and investment opportunities. WSM has raised an impressive $3.7 million and is a lucrative opportunity to invest in. Don't miss out on the chance to buy $WSM and join this exciting venture.
Pro-XRP Lawyer John Deaton's Twitter Account Hacked During Cyberattack
John Deaton, a lawyer representing over 76,000 XRP token holders in the Ripple vs. SEC lawsuit, experienced a phone hack during a cyberattack that lasted several days. The hackers used his Twitter account to promote a cryptocurrency called $LAW token, but Deaton's legal team promptly responded to clarify that the messages did not come from him. Deaton took proactive measures to communicate with his Twitter followers and urged them to report the unauthorized access and hacking of his official Twitter handle. The incident highlights the importance of cybersecurity within the crypto industry and the need for vigilance in safeguarding personal accounts and information.
Crypto Market Update: Bitcoin and Ethereum Remain Flat as Other Coins Rally, Tether Hits All-Time High Market Cap, Regulatory Talk in Bali, U.S., and Hong Kong, Gemini Expands to UAE, CFTC Proposes Revised Risk Management Rules.
Although the markets showed some growth this week, Bitcoin and Ethereum remained relatively unchanged. Bitcoin increased by 1.8% and briefly reached $28,000 after U.S. lawmakers reached a tentative deal over the debt ceiling. Ethereum outpaced Bitcoin with a 4.1% growth to reach $1,903. Other leading cryptocurrencies did not experience significant losses, but XRP, Solana, Litecoin, and TRON saw gains. Gemini announced its plans to acquire a license to operate in the United Arab Emirates, following its recent expansion to Dublin.
Crypto Lawyer John Deaton Suggests Ripple's IPO Could Lead to Valuation Surpassing $100 Billion
John Deaton, a crypto lawyer, has suggested that Ripple's potential IPO could result in a valuation exceeding $100 billion, which is in line with previous analyst projections. Deaton believes that if Ripple wins the ongoing lawsuit against the SEC, an IPO could be expected within a year. He also highlighted Ripple's internal valuation, which was estimated at $15 billion based on its ownership of 45 billion XRP tokens, and theorized that if XRP reached $2 per token, Ripple's valuation would soar to $100 billion. Linda Jones, a Wall Street financial expert, has also estimated that Ripple's share could grow twenty times bigger if XRP reaches its previous peak value of $3.59.
Ethereum (ETH) and XRP Approach Horizontal Resistance, Testing Bullish Momentum
Crypto analytics tool 100eyes Crypto Scanner reports that Ethereum (ETH) and XRP, the second and sixth largest cryptocurrencies by market cap, are approaching horizontal resistance. This refers to a price level that an asset struggles to surpass due to an influx of sell orders. Ethereum has a market cap of $229 billion and a 4% weekly gain, while XRP has a market cap of $27 billion and has outperformed Bitcoin and ETH with a 12.8% increase over the past seven days. However, hitting these resistance levels could result in a price reversal or consolidation.
Crypto Analyst Predicts XRP Could Rally by Over 100% Ahead of SEC Decision
A crypto analyst known as DonAlt believes that XRP could experience a triple-digit rally as the SEC's lawsuit against Ripple draws to a close. DonAlt has resumed buying XRP and predicts a potential upside of over 100% from current levels. However, he warns that the trade is not risk-free and that the bullish thesis for XRP will be invalidated if it falls below $0.46. XRP is currently trading at $0.506.
Ripple Locks Back 900 Million XRP into Escrow Shortly After Releasing 1 Billion Tokens
Ripple has locked back 900 million XRP into its escrow account shortly after releasing 1 billion tokens for June. This was detected by cryptocurrency whale tracking service Whale Alert, which revealed that three transactions involving a total of 900 million XRP were transferred back into the escrow wallet. Ripple usually locks a significant amount of the XRP coins it releases from escrow monthly while using the remaining tokens to fund business operations. This process helps maintain XRP price stability amid the ongoing SEC lawsuit. XRP has regained momentum and surged 2.3% in the past 24 hours, currently changing hands at $0.5189.
Ripple CTO Demystifies Profitable Trading Strategy for Upcoming XRP Ledger Automated Market Maker (AMM)
Ripple's CTO, David Schwartz, has explained the trading strategy of Automated Market Makers (AMMs) and how they can generate profits through price volatility. He emphasized that AMMs work best when one asset in the trading pair has a fixed price while the other asset observes volatile price swings.
