$XRP  Path To $1000 Not ‘Fantasy’: Researcher Dissects Ripple’s Utility And Growing Demand

Recent discussions in the crypto community, particularly from a figure known as Crypto Tank, have reignited the debate about the potential for XRP to reach a price of $1,000. Crypto Tank argues that skepticism surrounding this target often stems from a misunderstanding of XRP’s utility in the global financial system.

According to him, to understand how XRP could achieve such high valuations, it’s essential to examine its impact on global finance, particularly compared to existing systems like SWIFT. SWIFT, which facilitates international bank messaging, handles a staggering $5 to $7 trillion in daily transactions. However, its messaging service doesn’t include the actual settlement of these transactions, which can be costly and time-consuming.

Dogecoin $DOGE  Creator Breaks Silence on Gigantic 1.4 Billion DOGE Buy

In a thunderous turn of events in the crypto space, a recent post claimed that a whale had purchased a whopping 1.4 billion Dogecoin (DOGE). That's about $176.4 million at current prices, which got the attention of the Dogecoin creator Billy Markus also known as Shibetoshi Nakamoto.

What's interesting is that this claim is similar to something that prominent crypto analyst Ali Martinez said just three days ago. He previously noted that Dogecoin whales had collectively acquired over 1.4 billion DOGE within a brief 48-hour window.

This was valued at around $140 million at that time, so it seems like the current report may not be about one purchase, but rather a bunch of big holders in the Dogecoin ecosystem buying together.

Bitcoin $BTC  Price To Witness Significant Gains In Last 3 Months Of 2024, Historical Data Shows

The price of Bitcoin started the year on a bounce, securing a new all-time high before the end of the first quarter of 2024. However, the second and third quarters weren’t all that rosy for the crypto market, with the premier cryptocurrency largely moving within a consolidation range.

September, the last month of the third quarter, was predicted to dampen the bullish impetus of the Bitcoin price, but the contrary has been the case. According to data from CoinGecko, the Bitcoin price is up by more than 10% in September.

Ethereum Whales Sell $45 Million $ETH , What’s Next?

Crypto analyst Julien Bittel, CFA, has forecasted a significant surge for Ethereum, potentially hitting $20,000 by early 2025. Comparing ETH’s 2023 trend with current data, he observes striking similarities, suggesting a potential repeat of last year’s bullish movement.

$XRP  Price Breaks Key Level That May Turn Ultra Bullish Mode On

The popular cryptocurrency XRP has just crossed above the critical 200-day moving average (200-MA) on its weekly price chart, a technical indicator that serves as an important barometer of market momentum and trend direction.

This impressive bullish move, catalyzed by an 8.47% increase since Monday, has seen the price of XRP rise from $0.5871 to the current level of $0.638. It is worth noting that this upward trajectory was not entirely unexpected; in fact, market analysts had been hinting at a strengthening bullish outlook since the beginning of the week.

Shiba Inu Burn Rate Skyrockets 5,094% Amid $SHIB  Explosive Week

According to a recent Shibburn hourly update, 2,019,681,290 SHIB have been burned in the last seven days, representing a 5,094.07% increase in the weekly burn rate. The increase in the weekly SHIB burn rate coincides with a strong upward trend in SHIB’s price over the past week.

Shiba Inu volume, circulation and whale transactions reached 10-week highs, coinciding with a rise in SHIB prices and social dominance. Shiba Inu is currently experiencing profit-taking, down 2.16% in the last 24 hours to $0.00001948. The daily burn rate is likewise down 98.03% with only 2,050,516 SHIB burned within the last 24 hours.

Shiba Inu ( $SHIB  ) on Verge of Price Tripling as 'Uptober' Nears

According to price history data from CryptoRank, projections indicate that SHIB could see a staggering tripling of its price in the coming month, a statistic rooted in historical averages that reveal an impressive return of 283.4% for this time of year, complemented by a median return of over 10%.

Bitcoin $BTC defies September slump: Bullish RSI divergence signals more gains

Bitcoin [BTC] has experienced a strong upward momentum throughout the month. Historically, September is associated with a bearish trend. However, this month has seen a dramatic shift with BTC making higher lows.

In fact, as of this writing, Bitcoin was trading at $65,530. This marked a 10.52% increase on monthly charts with the extension of the uptrend by a 4.16% surge over the past week.

However, the last 24 hours have seen a minor correction with Bitcoin declining by 0.46%.

According to the Crypto Basic Analytics:

Analyst Says Bitcoin $BTC to $250K as Most Powerful BTC Bull Run Phase Begins

As Bitcoin struggles at the $60,000 territory, market analyst Aurelien Ohayon recently asserted that its most powerful bull run has just begun.

Ohayon’s recent calls attention to an interesting pattern in Bitcoin’s long-term price movements. With this, he suggested that the most potent phase of the current bull run is just beginning.

Notably, the accompanying chart traces Bitcoin’s historical tops and bottoms across three previous market cycles. Each cycle features a steep climb to a new all-time high, followed by a significant decline and a period of consolidation before the price surges once again. 

This pattern was evident from Bitcoin’s first major peak on the chart, attained in November 2013 when the price soared to $1,163. After reaching this peak, Bitcoin underwent a steep correction, eventually bottoming out at $152 in January 2015.
From this low, Bitcoin embarked on a remarkable recovery, culminating in a second peak of $19,666 in December 2017.

Notably, during previous cycles, Bitcoin never reached a new all-time high before a halving event. However, the March 2024 all-time high came up a month before the latest halving event in April. Some have attributed this to the advent of institutional investors through the spot Bitcoin ETFs, launched in February.

Despite this impressive gain, Ohayon suggests that Bitcoin has not yet reached its peak for this cycle. The chart indicates that the most powerful phase of the bull run is still ahead, with the potential to drive Bitcoin’s price to an astonishing $250,000. 

The analyst based this projection on the assumption that Bitcoin will follow a similar trajectory to previous cycles, with the final stage of the bull run featuring exponential gains. Market Veteran Brandt had previously asserted that $73K was the top for this cycle. Nonetheless, he recently reviewed his analysis, projecting another pump to $92K.

According to the Blockchain Reporter Analytics:

$FLOKI Down 17% After Dormant Holder Dumps 15B Coins

The prominent meme token $FLOKI ’s price has dipped by 17.7% during the recent twenty-four hours. Spot On Chain, a popular on-chain analytics company, has disclosed that the 17.7% decline of Floki takes place simultaneous to a formerly dormant wallet’s reactivation as it has transferred $2.27M to Binance. The analytics provider took to its official social media account to provide the details of the respective development.

In its new X post, Spot On Chain has revealed that the wallet associated with the Floki Inu project has recently awakened. This occurs following its inactive status for almost 2.5 years. The respective coins accounted for $2.27M in total. Such a big transaction occurred just before a massive price decline. This has raised speculations and concerns about the likely reasons behind the incident.

The 15.22B $F$FLOKI ins originally emerged from the deployer contract of Floki to the respective wallet in 2022. That was the time when $FLO$FLOKI reportedly changing hands at a substantially decreased price of almost $0.0000307. This makes the present transfer even more noteworthy in the case of value and volume. This token shift’s timing has paved the way for broad-level speculation among traders and investors.

According to the CoinSpeaker Analytics:

Shiba Inu $SHIB Burn Rate Skyrockets 13,900% as SHIB Price Eyes Rebound

Shiba Inu (SHIB) has seen a huge spike in its burn rate, suggesting a possible price rebound. According to the Shibburn tracker, the platform that monitors the rate and amount of SHIB burnt, the burn rate has spiked by more than 13,900% in the last 24 hours. As a result, 96,634,993 SHIB tokens have been sent to dead wallets. This notably aligns with the community’s effort to reduce the token’s circulating supply.

This massive burn rate surge coincides with an increase in the price of SHIB earlier this week. After this short-paced uptick, the token’s price has fluctuated. At the time of this writing, SHIB traded at $0.000014, corresponding with a 1.09% dip, per CoinMarketCap data.
The burn rate has reignited new hopes for a potential price rebound. From the circulating supply of about 583 trillion SHIB, the project has successfully destroyed over 410 trillion tokens.

The huge burn rate comes after an automated burn mechanism – ShibTorch – went live on Shibarium recently. Precisely, on August 9, the Layer 2 network, designed for the Shiba Inu ecosystem, underwent a crucial hard fork. The upgrade involved deploying a new version of the Bor software (v1.1.2-bone).

Upon successfully deploying at the block height of 6,206,570, the upgrade implemented a new burn mechanism designed to automate the burning of Shiba Inu. SHIB marketing lead LUCIE shared a few details on how the mechanism works. She clarified that it would be tied to users’ transaction fees.

Therefore, 70% of all base transaction fees collected on the network will automatically go into the burn wallet. This leaves the remaining 30% for network maintenance, development, and growth. Noteworthy, the transaction fees are converted to SHIB before being burned.

As expected from its inception, this new burn mechanism is significantly reducing the amount of SHIB in circulation, as evident in the recent percentage burn rate reported.

According to the CoinTurk Analytics:

Analyst Predicts Toncoin $TON Could Outperform Market Despite Recent Decline

According to Lee, the double-digit decline mirrors Bitcoin’s performance, which has recently struggled to surpass the $60,000 mark. Lee also noted that despite recent struggles, TON has outperformed Ethereum. 

“TON has recently experienced a decline due to negative news, but despite major bad news like the arrest of Telegram’s founder, we noticed that TON’s price did not experience a serious collapse and instead showed significant resilience and recovery. Over the past 30 days, TON’s decline was almost at the same level as Bitcoin’s and significantly outperformed Ethereum.”

Lee observed that despite the negative press surrounding Pavel Durov’s arrest, the overall sentiment for TON remains bullish. He attributed this resilience to the unity among the TON ecosystem’s founders, projects, and supporters, which resulted in a noticeable absence of FUD on social media.

According to the CoinGape Analytics:

$XRP News Today: Analyst Predicts XRP Price Eyes $27

XRP Price Could Surge to $27, according to crypto analyst EGRAG. This forecast is based on EGRAG’s analysis of XRP price movements within a Fibonacci Channel on the monthly chart. According to the analysis, this surge is contingent upon XRP replicating half of its 2017 bull run performance.

Analyst Predicts XRP Price Eyes a Break Out To $27

In recent XRP news, crypto analyst EGRAG presented a bullish scenario that could see the digital asset reaching as high as $27. This prediction hinges on the asset achieving half of its meteoric rise witnessed during the 2017 bull market. 

Utilizing the Fibonacci Channel, EGRAG outlined vital resistance and support zones that could play pivotal roles in XRP rise. Notably, a break above the $0.75 level, currently seen as major resistance, is crucial for initiating this rally.

Furthermore, EGRAG emphasized that if XRP can sustain a close above this threshold, the path could be clear toward the $27 mark, coinciding with the 0.618 Fibonacci level. This analysis rests on historical price actions mirrored in the current market structure, suggesting a repeat of the past bull run’s intensity.

According to the Cryptonews Analytics:

Shiba Inu Investors Ditch for a New Dog-Coin ICO Targeting 100x Gains

Meme coin investors are selling some of their Shiba Inu ($SHIB ) as new opportunities emerge to buy potential Dogecoin ($DOGE) killers that are still only in presale.

Original meme coin Dogecoin shed 5.8% over the seven days and 3.4% over the last 24 hours to hit $0.1001.
The two sector leaders held the fort a bit better than their peers. Among the top ten biggest meme coins by market cap, several dropped by double-digit percentages this week.

Pepe ($PEPE) fell 13.4%, DogWifHat ($WIF) tumbled 24.6%, Bonk ($BONK) dropped 13.8%, Brett ($BRETT) spiraled 20.4%, and Popcat ($POPCAT) nosedived 30.3%.
By contrast, market leader Bitcoin ($BTC) only fell 2.1% and Ethereum ($ETH) dropped 3.2%.

Over on Shiba Inu’s price chart, we can see
$SHIB raded between $0.000015 and $0.00002 for most of the summer, before the crypto crash on August 5 dragged the price down as low as $0.000011.

This means any further downward price action could send $S$SHIB wn to a new support level of $0.00001. A relative strength index (RSI) of 53 indicates that falling momentum is likely to drop off once the wider market is back in the green.

However, that may take time. At the time of writing, crypto markets shed 2.8% in the last 24 hours and now command a $2.16 trillion market cap. The meme coin sector lost 2.4% and currently capitalizes $38.4 billion in the market.

According to the CoinGape Analytics:

Will $XRP Price Stay Bullish? Targeting $1 As XRPL TVL Plunges

XRP price is inching closer to breaching $0.6 resistance. The token sits on support at $0.58 with a descending trendline providing additional support marginally below. It is worth noticing that XRP breaking $0.64 could ignite a rally toward $0.7, boosting overall optimism.

The Moving Average Convergence Divergence (MACD) reinforces the bullish thesis with a buy signal and holding above the neutral zone. Green histograms toward the positive region as a sign of relief to investors who feared a possible downswing to $0.5.

XRP sits on top of all three short-term moving averages, including the 20-day, 50-day, and 200-day EMA. The crossover of the 20-day EMA above the 50-day EMA suggests pressure building behind Ripple to support a modest recovery above $0.6.

Traders will look for a break above $0.6 to validate the uptrend. However, should XRP price fail to close above this crucial level, a retest of $0.58 support may follow.

According to the Crypto Economy Analytics:

Cardano ($ADA ) has lost a considerable portion of its value and has fallen out of the top 10 cryptocurrencies by market capitalization, currently standing at the eleventh position. Previously, ADA enjoyed consistent growth. However, it has faced several challenges leading to this outcome.

Since early January, ADA has experienced a gradual loss in market share. Despite a slight increase following the 2022 bear market, its overall trend has been downward. Currently, ADA is down by 0.4%, with a trading price of $0.3365 per token. It has a market capitalization of approximately $12 billion, just below TRON’s TRX token, which has a capitalization of $12.15 billion.

Cardano was launched in 2017 by Charles Hoskinson, who had previously worked on the development of Ethereum. The network was notable for implementing a proof-of-stake consensus algorithm while maintaining Bitcoin’s UTXO ledger model.

According to the NewsBTC Analytics:

Crypto Experts Believe This New ICO Will Surpass Dogecoin
($DOGE ) Becoming The Biggest Memecoin

Dogecoin (DOGE) began as a lighthearted joke, inspired by the Shiba Inu meme. Despite its origins, DOGE has evolved into a major player in the cryptocurrency space. Its journey from a meme to a widely recognized digital asset is a testament to its viral success and the strength of its community. The coin’s ability to leverage popular culture and internet memes has played a crucial role in its sustained popularity.

DOGE’s continued success can be attributed to its vibrant community and the influential endorsements it has received. Its widespread recognition and the ongoing support from high-profile figures have cemented its position in the crypto market. Investors continue to flock to DOGE, drawn by its history of substantial returns and its status as a symbol of internet culture.

According to the CoinTurk Analytics:

Experts Predict Bitcoin $BTC Price Breakout Soon

In crypto, we don’t usually see such long boring periods except during bear market crashes. The trend is upward, and much data confirms this. Therefore, we should see a real recovery in the market at some point.

Renowned crypto analyst Rekt Capital compared previous halving periods with the current situation and said this nightmare will end. Rekt Capital is known for identifying historical breakout points, and time may prove him right. Or not, because no one has a crystal ball to see the future.

“Bitcoin tends to enter the Parabolic Phase of the cycle approximately 160 days after the Halving. If history repeats itself, Bitcoin could break out in just over a month. That means the end of September.”

Institutional ETF adoption increased by 27% in the last quarter, with 262 firms purchasing BTC ETFs from scratch. This trend suggests that targets above $80,000 for BTC could become a reality. For the breakout expected soon by two popular analysts, the first stop will be prices in the $80,000 range.

However, some are giving a clear price target for September. Titan Of Crypto is one of them, arguing that the journey to $86,000 will begin in September. If $60,000 is surpassed, we will see nearly $1 billion worth of short positions liquidated on the current chart, which is one of crypto’s favorite things. Maybe the long-awaited event will finally happen after months of crab markets?

Based on the CoinTurk News Analytics:

$XRP Shows Signs of Recovery After Recent Decline

Looking at XRP’s recent price movements, Fibonacci retracement levels provide important clues. As seen in the chart below, the pullback from $0.5720, which corresponds to the 0.618 Fibonacci level, indicates that this level forms a strong resistance. On the downside, the $0.50 level should be watched as a critical support.

The Awesome Oscillator (AO) clearly gives a sell signal in the chart above. On the other hand, the RSI indicator moving below the 50 level indicates market weakness. These data suggest that XRP may remain under pressure before a trend reversal occurs.

Similar to the Awesome Oscillator, the MACD indicator used to track XRP’s overall trend continues to give a sell signal. As long as the MACD line remains below the signal line, it provides a strong signal that the downtrend will continue. Additionally, the RSI indicator hovering around the 50 level suggests that volatility may increase before the trend gains a clear direction.

So, what can be expected for the cryptocurrency XRP at this stage? XRP’s staying below the $0.60 level requires investors to be cautious in the short term. If the price fails to retest this level, the $0.50 support will gain more importance. A move below this level could lead to a deeper correction.

XRP is attempting to recover following recent declines, but technical indicators do not yet signal a clear recovery. Volatility is likely to continue in the short term. Investors should closely monitor the $0.50 support level. A drop below this level could mean further downside potential for XRP. At the time of writing, XRP price is at $0.56.

According to the NewsBTC Analytics:

Bitcoin $BTC Exchange Outflows Soar To Yearly High – Could This Fuel A Return To $70,000?

According to on-chain data from IntoTheBlock, Bitcoin addresses have been steadily accumulating the coin in the past week. This data is highlighted through the analytic platform’s netflow data, which is crucial in forecasting an upcoming price uptick or downtrend for cryptocurrencies. The data highlights a significant shift, showing that outflows from exchanges have substantially outpaced inflows, with a staggering $1.7 billion more worth of BTC being withdrawn from exchanges than deposited.

Recent dynamics in the wider world of investments and increased volatility saw Bitcoin falling below $50,000 again last week. Interestingly, this drastic price drop marked the first time Bitcoin traded below $50,000 in six months. However, be that as it may, the price decline gave many crypto believers a chance to accumulate more BTC at a six-month low. This created buying pressure among some traders, which in turn helped to prop up the price of BTC and helped to prevent further declines.

A reduction in Bitcoin available on exchanges can have significant implications for the market. With fewer coins available for sale, buying pressure may increase, potentially driving up prices as demand remains steady or grows. At the time of writing, Bitcoin is trading at $60,989, having established support at $60,000. 

Considering the prevailing bullish sentiment, this buying pressure may as well be the momentum that pushes the Bitcoin price to the challenging $70,000 price level. However, the journey to $70,000 presents four different resistance levels at $63,730, $65,510, $67,350, and $69,150. 

However, Bitcoin is not out of the woods yet, as the exchange on-chain market depth shows there are still more sellers than buyers. At the time of writing, sellers have placed sell orders of 31,458 BTC at an average price of $61,267 on various crypto exchanges. Meanwhile, buyers have placed buy orders for only 27,734 BTC at an average price of $61,263.