⭐️ Important news about Ripple's lawsuit against the SEC: ne

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🤖 AI sets XRP price for June 30, 2024 Although the majority of assets in the cryptocurrency market have recorded modest growth or at least consolidation of their previous gains in recent weeks, XRP (XRP) has been stuck in a relentlessly negative price trend, and machine learning and artificial intelligence (AI) algorithms are not optimistic. As it happens, the price of XRP has declined over 15% since the year’s turn, as well as recording continuous declines in past days and weeks, and only recently managing to slightly turn the tide and start the day in the green price zone in what seems to be a late reaction to the rest of the market’s moves. 🔸 XRP/Ripple price prediction Meanwhile, in terms of its future price action, the advanced machine learning algorithm over at the crypto analytics and forecasting platform PricePredictions has projected that XRP would continue to drop, hitting the price of $0.448403 on June 30, 2024, according to the data obtained on June 4. Indeed, should the algorithm’s predictions, which draw upon technical analysis (TA) indicators like relative strength index (RSI), moving average convergence divergence (MACD), and others, come true, they would reflect a decline of 13.83% from XRP’s current situation. 🔸 XRP price analysis At press time, XRP price stood at $0.52035, suggesting an increase of 0.10% on the day while dipping 1.51% across the past week and recording a loss of 1.59% in the last month. So, why is XRP dropping? Notably, the reason behind XRP’s poor price action in recent days and weeks could be the bearish sentiment from the possibility of Ripple selling 400 million XRP in June, which would represent the largest drop in seven years and potentially shake XRP’s market dynamics. Adding the current optimism regarding Ripple’s courtroom battle with the United States Securities and Exchange Commission (SEC) into the mix, the crypto industry analyst’s exceedingly bullish predictions regarding XRP’s market value in the next year could, indeed, come true. $XRP #XRP

⭐️ Ethereum ETFs Set to Attract $569 Million Monthly, Researcher Predicts The US Securities and Exchange Commission (SEC) approving Ethereum spot ETFs was a big step for the cryptocurrency market. The regulator’s decision followed the earlier approval of Bitcoin spot ETFs, which led to a massive inflow of capital into BTC. 🔸 Ethereum ETFs Could Record Massive Inflows After Launch A prominent crypto researcher Bobby Banzai forecasts monthly inflows of $569 million for Ethereum ETFs once trading begins. His prediction is based on international ETF values and Chicago Mercantile Exchange (CME) futures open interest data, which show that ETH’s value is around 19% relative to BTC. “With Bitcoin flows amounting to $13.6 billion as of May 27 after 137 trading days, the implied amount of monthly ETH ETF flows are $569 million”. Bobby Banzai noted that the success of Bitcoin ETFs has incentivized issuers to promote Ethereum ETFs. Firms like Hashdex, VanEck, and Bitwise have previously published high-quality ads for their BTC ETFs. A similar marketing effort for ETH ETFs could lead to substantial inflows. Bloomberg analyst Eric Balchunas suggests that the newly approved instruments could capture up to 20% of the Bitcoin ETF market. However, JPMorgan analysts caution that the initial market reaction may be negative, predicting that ETH ETFs could see inflows between $1 billion and $3 billion in 2024 if launched before year-end. They argue that without staking yields, ETH ETFs may be less attractive. Investors who buy, hold, and stake ETH can earn rewards, which provide extra yield. In contrast, spot Ethereum ETFs without staking offer exposure to ETH prices without these benefits. However, Ethereum’s value, supported by its usefulness in transactions, smart contracts, and decentralized applications (DApps), sets it up for substantial expansion. Industry experts like BlackRock co-founder Larry Fink and MicroStrategy CEO Michael Saylor have celebrated the approval of the ETFs as a significant development. $ETH #ETH #Ethereum

📣 Top 2 Memecoins To Watch In June 2024 🔸 Cardano (ADA): The Smart Contract Innovator Cardano (ADA) is known for its unique approach to smart contracts and blockchain technology. Its research-driven development and focus on scalability and sustainability make it a standout in the crypto market. Cardano’s innovative technology and growing ecosystem position it for significant growth. 🔸 Ripple (XRP): The Payment Revolution Ripple (XRP) is transforming the way cross-border payments are made with its fast and cost-effective solutions. Its partnerships with major financial institutions highlight its potential to disrupt the traditional payment industry. Ripple’s innovative approach makes it a top meme coin to watch in June. $ADA #ADA $XRP #XRP

🚀 This Altcoin Network Spawned Half a Million Brand New Altcoins in May: Founder Explained Nearly half a million tokens were launched on the Solana blockchain in May. The increase in token creation is attributed to lower barriers to entry and increased desire to create a popular memecoin. In May alone, 455,000 tokens were created on Solana, dwarfing the numbers seen on other platforms. In comparison, 177,000 tokens were created on Ethereum layer 2 protocol Base, while 39,000 tokens were created on BNB Chain. The Ethereum mainnet and Layer 2 networks Arbitrum and Optimism each produced less than 20,000 tokens. Austin Federa, director of strategy at the Solana Foundation, attributes this rise to Solana's unique features. “Solana is designed to be a high-throughput general-purpose layer 1 with fast completions and extremely low transaction fees,” Federa explained and added: “As a result of these features, the increased mass token creation activities in Solana reduce the cost of experimentation and new idea generation to almost zero. Creating tokens in Solana should be as easy as creating content on the internet.” Interestingly, the majority of Solana tokens are memecoins, which have recently attracted the attention of the cryptocurrency community. This trend comes after some Solana-based memecoins such as Dogwifhat, Bonk, and Book of Meme skyrocketed in the crypto market. #Altcoin $SOL #SOL

🤔 Bitcoin Has Solid On-Chain Cushion Below $68,900: Stage Set For Fresh Rally? On-chain data shows Bitcoin could have significant support between $66,900 and $68,900, which may help provide solid ground for a fresh surge to higher levels. 🔸 A Large Amount Of Investors Bought Their Bitcoin Between $66,900 & $68,900 According to data from the market intelligence platform IntoTheBlock, BTC is currently floating above a major demand zone. In on-chain analysis, the strength of any support or resistance level is based on how much “demand” was present at it. Below is a chart that shows the various Bitcoin price ranges near the current spot value and how they compare in terms of the total amount of the asset the investors purchased. Here, the size of the dot correlates to the total number of tokens that were last acquired at the corresponding price range. It would appear that, out of these zones, the levels between $66,900 and $68,900 currently host the cost basis of the greatest amount of BTC. More than two million addresses have acquired 1.1 million BTC inside this range. Since the current BTC spot price is above these levels, all investors who buy there will make slight profits. Investor cost basis is important in the on-chain analysis because the level has special psychological significance. A potential retest of it can result in a flip of the profit-loss balance for the holder. As such, investors may be prone to making some moves when a retest like this takes place. A holder carrying losses before the retest (that is, the retest is happening from below) may be tempted to sell for fear that the price will go down in the future. On the other hand, an investor in the green before the retest may have reason to believe the price would go up again and, thus. When retests of price ranges thick with investors, one of these reactions may arise on a scale that could be relevant for the wider market, therefore, major demand zones below can act as support points, while those above can act as resistance blocks. $BTC #BTC #Bitcoin

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