Vitalik Buterin, co-founder of Ethereum, recently shook up the crypto world by tweeting, “XRP is better sound money than Bitcoin.” This bold statement has sparked excitement among investors, especially as XRP’s price looks set to reach $49.98 within days.
Adding to the buzz is the opportunity for users to earn CTF tokens as rewards when they use XRP for payments at participating merchants. With limited supply and growing demand, the CTF token, currently priced at $0.72, could skyrocket to $498. That makes it a win-win for those holding both XRP and CTF tokens.
For those who missed the tweet, Buterin’s comment came in response to Pierre Rochard’s research on Bitcoin’s value. Rochard described Bitcoin as “peak sound money.” Buterin humorously suggested that a price graph for XRP compared to itself would look similar to Bitcoin’s. He still emphasized that XRP would still qualify as sound money. His comment not only challenges Bitcoin’s dominance but also highlights the potential of XRP as a stronger alternative.
XRP’s Growing Adoption
Buterin’s remarks point to XRP’s increasing use by institutions across the globe. Many financial institutions and payment providers are adopting Ripple’s technology. Thus, XRP is becoming a popular choice for fast and low-cost cross-border transactions. This growing adoption positions XRP as a strong competitor to Bitcoin, particularly in the payments space.
Earn Rewards with CTF Tokens When Using XRP
XRP is not just making headlines; it’s also offering real benefits to users. When you make payments with XRP at participating stores, both online and offline, you can earn CTF tokens as rewards. These tokens can be used to buy products or exchanged for cash, giving users more value. 
With a limited number of CTF tokens available and the rising demand linked to XRP’s popularity, there’s speculation that the value of CTF tokens could jump from $0.72 to as high as $498. This potential for high returns makes XRP and CTF tokens an attractive combo for both investors and everyday users.
What’s Next for XRP
Vitalik Buterin statement that XRP is better than Bitcoin adds new fuel to the ongoing debate in the crypto world. With more institutions getting on board and a rewards system that makes using XRP even more appealing, the future looks bright for XRP. If the current trend continues, XRP might indeed reach $49.98 soon, creating more opportunities for holders of both XRP and CTF tokens.
As the crypto community keeps a close eye on these developments, all signs indicate an exciting time ahead for XRP. Will it reach new heights soon? The market is watching, and the anticipation is building.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#XRP #Ripple

PEPE Coin must hold the $0.00000765-$0.00000835 support zone to avoid further decline towards $0.0000066.

Breaking above the $0. 00001225 resistance is paramount in the process of negation of the bearish trend and in turn creation of an uptrend signal.

The bullish order block around $0.0000073 could provide a significant support level, possibly leading to a bounce back.

PEPE Coin has been consistently hitting a descending resistance line, facing multiple rejections. This pattern indicates a bearish trend. The price has created a major support around $0. 00000765 and $0. 00000835. To avoid a further drop, sustaining itself above this level is of the essence. If PEPE fails to maintain this support, it could drop to the next support level at $0.0000066.

$PEPE Simple Plan – Buy the lower bound– Sell the upper boundRinse and repeat! pic.twitter.com/VpjAtNj3u4

— Elja (@Eljaboom) July 6, 2024

Resistance and Trend Reversal

For bearish outlook to be nullified, PEPE must breakout from $0. 00001225. It would be the end of this resistance level signaling that a bullish run may have just started and that the upward trend has begun. This level is critical for investors watching for signs of a bullish recovery.

There is a bullish order block around $0.0000073. This area could act as a strong support level, potentially providing a bounce back if tested. This support zone is important as it might offer a temporary relief from the bearish trend.

Source: TradingView

Technical Analysis Insights

The overall trend has been downward recently after a significant uptrend earlier. The chart shows a rising channel that eventually broke to the downside, followed by a descending triangle pattern. This triangle pattern has a horizontal support level and a descending resistance line.

The price recently touched the support level and showed a small bounce. It is possible for the price to form a double bottom which would suggest that a reversal may be near. There is a possibility as urged by the analyst of an upward movement from this level to bounce off the support and break the descending resistance line.

Daily Price Movements

The chart, showing daily candles from May to July, highlights several key points. The price has also been fluctuating with rise and fall and rise again kind of a movement.

Price, on July 7th, fluctuated a low of $0. 00000085 to $0. 00000098, ending at $0. 00000090. A significant drop occurred around 4:00 PM, after that it minimizes again and then it has a slight increase towards the latter part of the day.

Source: CoinMarketCap

This analysis suggests a potential bullish reversal based on technical patterns and support levels. However, technical analysis alone cannot guarantee future price movements. 

Investors should consider additional factors before making any investment decisions. PEPE Coin’s future price action remains uncertain, with critical levels to watch for both bearish and bullish scenarios.

Read also

Shiba Inu Breaks Out of Descending Triangle, Signals Potential Bullish Run

Dogecoin’s Bullish Breakout: Historical Patterns Hint at New Bull Market

XRP: Analyst Predicts $0.70 Amidst Pattern Speculation

Solana Price Prediction 2024, Is It Finally the Time for This SOL Alternative To Take Center Stage?

Solana’s Potential Recovery: Breaking the Bearish Trend?

The post PEPE Key Resistance Break Could Signal Bullish Reversal Amid Bearish Trends appeared first on Crypto News Land.

Today, meme coins have seen a big rise, thanks to positive factors that have lifted the overall market mood. Major meme coins like DOGE, SHIB, and PEPE have all had notable gains. This strong performance shows an increase in market confidence and a rebound from recent lows.
Meme coins have bounced back today after a poor showing yesterday. Major coins like Dogecoin, Shiba Inu, Pepe Coin, and WIF are up over 10%, reflecting increased investor confidence. While the overall market recovery likely played a role, other factors may also be driving these gains. Here, we look at why meme coins are rallying.

Cash Injections Boost Crypto and Meme Coins
The cryptocurrency market is showing signs of optimism today, with analysts suggesting potential cash injections as a key driver. Speculation surrounds the collapsed exchange FTX, which may distribute $16 billion to former customers.
Experts believe a significant portion of this cash could flow back into crypto, fueling market growth. This speculation has boosted market optimism and driven meme coin prices higher today.
Reinvestment by these crypto-savvy individuals could create substantial buying pressure, further boosting prices. While the exact impact remains to be seen, even a partial return of these funds could significantly uplift the crypto market, especially meme coins.
Institutional Confidence and Anticipation Drive Crypto Market
The U.S. Spot Bitcoin ETF saw an inflow of $143.1 million on July 6, signaling a resurgence of institutional confidence in the crypto market. This substantial investment has given a robust boost to the broader crypto market, including meme coins.
Additionally, the anticipation surrounding the potential approval of an Ethereum ETF by the U.S. SEC in mid-July has further lifted market confidence. The market is optimistic about an altcoin rally, expecting renewed confidence in meme coins following the approval of the U.S. Spot Ethereum ETF.
VanEck’s Solana ETF Sparks Market Confidence
VanEck was the first firm in the U.S. to apply for a Solana ETF with the U.S. SEC. This move has boosted confidence in the crypto market, increasing the price of Solana and Solana-based meme coins.
Recently, VanEck shared a cryptic post on X, hinting that the firm has added Solana to its portfolio. The post read, “i got sol, but im not a soldier,” adding to the speculation and excitement surrounding Solana’s potential.
Meme Coins Market Cap Rises Despite Recent Crash
The overall meme coins market cap increased by nearly 13% today to $41.77 billion, with almost all major players in the segment rallying. Dogecoin’s price soared more than 10%, Shiba Inu’s price rose about 15%, Pepe Coin advanced around 11%, and dogwifhat jumped 17%.
The recent crypto market crash was primarily due to immense selling pressure from the German and U.S. governments. These governments dumped massive amounts of Bitcoin onto exchanges, sparking concerns in the crypto market and impacting meme coins’ performance.
Government Bitcoin Sales and Market Panic: Impact on Meme Coins
The panic selling in the market was further fueled by Mt. Gox’s repayment to creditors in BTC and BCH. However, analysts suggest that the government’s Bitcoin sales are likely to have very little impact on the crypto market.
Ki Yong Ju, founder of CryptoQuant, downplays fears of a government Bitcoin dump impacting the market. He notes that despite $224 billion flowing into Bitcoin since 2023, government-seized Bitcoin sales only amount to roughly $9 billion. This translates to a mere 4% of the total Bitcoin value realized since 2023.
Ju advises investors not to let FUD (fear, uncertainty, doubt) surrounding government selling influence their trading decisions. This perspective might have also contributed to gains in the meme coins sector today.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#Memecoins #Meme #MtGox #SAB121 #PolyMarket $BTC $USDC $XRP

The crypto market experienced a significant downturn today, with Bitcoin losing over 2.5% and falling below the key $60,000 mark. This decline triggered a widespread sell-off across the market, resulting in an aggregate loss of nearly $100 billion in market capitalization.

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Amid this market turmoil, an account made a notable withdrawal from Binance, amounting to $59.41 million spread across eight different tokens. The most substantial portion of the withdrawal comprised 9,425 ETH, valued at $30.92 million. Additionally, the account moved 957.7 billion PEPE, worth $9.82 million, and 583.7 billion SHIB, valued at $9.63 million. 

Source: Arkham Intelligence

Other significant tokens included 438,700 RNDR worth $3.13 million, 5.187 million MATIC worth $2.81 million, 104,100 LINK worth $1.47 million, 39,100 AVAX worth $1.08 million and 2.762 million GRT worth $550,000.

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The timing suggests that the person or company behind the transaction may have been trying to capitalize from lower prices as the market dropped.

Equally interesting is that the primary focus of the alleged buyer has been on meme tokens. Despite the plethora of fundamentally strong cryptocurrencies, it is this sector that seems to continue to rule the board in this cycle.

Many people wonder: who sets the price of a cryptocurrency and why does it change so quickly? The answer is simple: it all comes down to the capitalization of said currency. Let's see how it works:
Market capitalization: In the information of a cryptocurrency, you will find the “market capitalization”. This figure represents the total value of all coins in circulation.
Circulation supply: This term refers to the number of cryptocurrencies in circulation, that is, those that holders can use at any time.

As the cryptocurrency market evolves, traditional giants like $BTC, $ETH, and $SOL are now sharing the spotlight with the dynamic memecoin sector. These foundational cryptocurrencies, once the undisputed rulers of the digital economy, are now witnessing the rise of memecoins, which promise to reshape the investment landscape. Here are 4 memecoins that have the potential to increase 20x by the end of May 2024!
America ($AMERICA): Leading the Memecoin Revolution

$America is one of the new meme coins aiming to innovate in the market, inspired by the revolutionary ethos of July 4th, 1776. Their mission is to help fellow patriots gain responsibly while supporting our nation's forgotten heroes.
With a strong community of over 3,000 members on Telegram and several strategic partnerships, $America is not just a participant but also a pioneer in the memecoin surge.
Reached ATH of $8 million MC, the current MCAP is $1 milion, and it is currently trading around $0.005878.

Although $AMERICA has dropped more than 70% from its ATH, its track record suggests that this meme coin could increase up to 20x by the end of May 2024.
Pepe ($PEPE): Ready to Double Its Price

Pepe remains a highlight in the memecoin sector, poised to double its value. With a vibrant community and strong market presence, Pepe is on track to exceed expectations in the memecoin space.
Shiba Inu ($SHIB): Driven by Significant Investment

Shiba Inu has solidified its market position with substantial funding, boosting its development and growth. This capital injection reflects strong investor confidence in SHIB's potential within the competitive memecoin arena.
Bonk ($BONK): Riding the Success of Revolut

Following a significant surge after being listed on Revolut, Bonk continues to capitalize on this momentum for further market gains. Increased trading volume and investor interest make Bonk a memecoin with high potential for rapid returns.
Conclusion
The emergence of memecoins like America, SHIB, BONK, and PEPE offers investors new opportunities to explore within the cryptocurrency market. While the potential gains are enticing, it's important to remember that investing in cryptocurrencies always involves risks.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.

#memecoin🚀🚀🚀 #cryptoupdates2024

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