Khyberoid

U.Today has prepared a summary of the top three news stories over the weekend; check it out!

XRP price hits $1 historic milestone

Nov. 16 was widely celebrated among the XRP community as, on that day, Ripple-affiliated token XRP had reacheda major price milestone of $1. Additionally, its market cap saw a 26.76% surge to $57.98 billion, and the trading volume reached $13.13 billion. Analysts suggest that the current price trajectory mirrors XRP’s performance in 2017, when it reached an all-time high of $3.30, and may have been boosted by its recent listing on Robinhood. The market optimism was also bolstered by Ripple's progress in its ongoing case with the SEC, coupled with speculation regarding the development of Ripple's dirham-backed stablecoin. Another factor that contributed to the price surge could be Bitwise's plan to convert its Bitwise 10 Crypto Index Fund into an ETF, which would include XRP. Currently, XRP is changing hands at $1.14, up 1.33% over the past 24 hours.

card

Satoshi-era whale transfers 2,000 BTC after 14 years of dormancy

Data from crypto analytics platform Lookonchain shows that a Satoshi-era Bitcoin miner recently transferred2,000 BTC, valued at approximately $180 million, after 14 years of inactivity. This Bitcoin fortune was mined in 2010, a formative year for the flagship crypto; that year, Bitcoin Market, the very first BTC exchange, was launched, and notable transactions, such as the famous purchase of two pizzas for 10,000 BTC, took place. While the mined coins date back to when Satoshi Nakamoto was still active, the chances that this wallet is linked to the mysterious Bitcoin creator remain very low. In 2010, Bitcoin miners produced a total of 3.39 million coins, with Bitcoin's mining difficulty beginning its significant rise. At the moment of writing, Bitcoin is worth $1.772 trillion, trading at $89,501.

card

Shiba Inu (SHIB) on verge of 23% breakout as golden cross develops

As indicated by various technical patterns on Shiba Inu's chart, the dog-themed meme token may beon the verge of a major breakout. After a remarkable rally of over 71.5% earlier this month, reaching a peak of $0.00003, the price has since retraced by 20%, settling around $0.000024, which is considered a healthy correction given its prior performance. Currently, SHIB is at a crossroads, with one of its potential paths being revisiting $0.00003, which would represent a 23% increase within the coming week, supported by bullish signals from the Fibonacci retracement levels. Additionally, a golden cross was developing on SHIB's daily chart, which historically has led to substantial price increases; the previous golden cross increased the token's price by 450% between December 2023 and March 2024. The goal for SHIB is to reach its all-time high of $0.00009, which would mean an increase of 264% from its current price and a return to a market value of nearly $40 billion. However, it is unclear if this is possible given current economic conditions.

According to U.Today, the cryptocurrency XRP has captured significant attention recently, experiencing a remarkable price surge of over 80%. This surge propelled XRP to a peak of $1.265 per token, marking its highest value in three years. The renewed interest in XRP is attributed to both the fervent market response and regulatory developments within the U.S. political landscape. This combination has driven the token to gain unprecedented momentum and attention.

The recent price movement has seen XRP break out of a prolonged triangle accumulation pattern that has persisted since 2018. This breakout is considered one of the most significant in XRP's history, suggesting that the current rise may not yet be over. Despite a healthy 20% correction to $1, where buying interest re-emerged, the token's price trajectory remains promising. A golden cross is forming on XRP's weekly price chart, a pattern where the 50-day moving average crosses above the 200-day moving average. This formation is often seen as a bullish indicator, suggesting potential for further price increases.

The occurrence of a golden cross on a weekly chart is rare, especially for an asset like XRP, which has a trading history spanning over a decade. However, it is important to note that while a golden cross can signal an upcoming rally, it can also mark the end of a price surge, as seen in April 2021 when XRP's price peaked at $1.97 after a similar pattern. Despite this, the current market dynamics and technical indicators suggest that XRP's recent price action could lead to further gains, keeping investors and market participants closely watching its developments.