CryptoCurrency
DOGE, XRP dip as Trump inauguration buys soar; Investors flock to TRUMP, Remittix
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
With meme coins like Official Trump gaining traction, investors are shifting from Dogecoin and Ripple to Remittix, a utility-driven contender.
Speculators who once clung to Dogecoin and Ripple are shifting their gaze elsewhere. Despite modest gains, Dogecoin (DOGE) sits around $0.3777 (up 18% in seven days), and Ripple (XRP) rests at $3.27 (up 36% in seven days). Some watchers see an XRP slump coming soon.
Meanwhile, a brand-new meme coin called Official Trump soared to $69.25, jumping 968% in less than a week. Even with the Dogecoin hype lingering, holders are downgrading these older tokens. Below, we’ll see how the crypto mania around the Trump token rose so quickly, plus why a lesser-known altcoin called Remittix (RTX) could overshadow them all.
Official Trump takes the market by storm
Official Trump crashed onto the scene on Friday, rallying billions in volume in just days. That mania shot Trump to about $69.25, an insane 968% leap in under seven days of true crypto mania at its finest. Many folks credit the coin’s success to the new president’s hype, reminiscent of how Dogecoin once thrived on memes. The question is whether Official Trump can hold these gains or fizzle when short-term traders cash out.
So why are people selling Dogecoin for Official Trump? Fans claim the new token might have more immediate momentum than the old guard, even though the Dogecoin hype hasn’t fully vanished. Still, older meme coins like Dogecoin sometimes see money shift to the newest craze with a brand name tied to a headline-grabbing figure. Official Trump inevitably attracted attention, for how long remains to be seen.
Why Ripple could face a downturn
Though Ripple looks decent at $3.27 with a 36% rise in seven days, many analysts spot an XRP slump on the horizon. Some suspect the coin’s legal entanglements and uncertain adoption could hurt its mid-term prospects, pushing speculators to exit. While Ripple once led cross-border payments hype, the crowd is now chasing coins like Official Trump or looking for real-world solutions. The result? Ripple might lose out if other projects offer simpler ways to move funds globally, especially if the legal status of XRP remains murky.
Of course, Ripple still has a loyal base, and anything can happen if good news arrives. But with big whales seemingly diversifying into fresh tokens, a sluggish performance from XRP might be in store. This is why watchers talk about an XRP slump, anticipating the moment the hype moves on.
Meet Remittix: The utility king
Alongside the Official Trump mania, a more serious contender has emerged: Remittix. Not reliant on memes, Remittix is built to handle cross-border crypto payments, letting users convert tokens to fiat within 24 hours. Investors who consider Dogecoin or Ripple out of steam see Remittix as a chance for stable growth. At presale, Remittix soared past $4 million raised, winning over those who prefer real utility over short-lived memes.
This surge suggests Remittix might attract not just meme-chasers but also businesses seeking an easier, cheaper method to transfer money. Instead of fueling crypto mania like Trump, Remittix solves an actual need, possibly leading to longer-lasting gains. Many see it as a hidden gem in a market driven by quick novelty. If mainstream adoption of PayFi grows, Remittix could blow past older tokens stuck in lawsuits or meme cycles. That’s big for holders who want a coin that’s more than a trending hashtag.
Is Remittix the smart move?
While Dogecoin held a special place in meme culture and Ripple once dazzled with cross-border goals, both face investor downgrades as the new Official Trump mania rages. Yet mania can vanish as fast as it appears. That’s why some folks skip the current hype for a coin offering genuine solutions. Remittix might shine here: bridging crypto and standard banking without hidden fees.
To learn more about Remittix, visit the presale website and stay tuned to their social media channels.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
CryptoCurrency
Coinbase CEO apologizes for multi-hour outage, pledges tier 1 support
After yet another technical hiccup, this time with Solana, Coinbase’s CEO apologized and pledged to scale infrastructure and provide “tier 1” support for high-demand periods.
Coinbase CEO Brian Armstrong has apologized for the Solana delays caused by the exchange’s infrastructure issues, which left users dealing with canceled or slow transactions.
In a post on X on Jan. 22, Armstrong admitted that the platform has the Solana backlog “triaged,” adding that transactions “should generate quickly again.” For users who suffered losses or missed out on the hype due to hours-long disruptions in depositing or withdrawing Solana (SOL) tokens, Armstrong issued his “apologies for the trouble.”
“We have the Solana backlog triaged, and transactions should generate quickly again. If your transaction got canceled you can retry it now – apologies for the trouble.”
Brian Armstrong
He admitted Coinbase needs to do better when it comes to supporting Solana, saying “it’s clear we need to step up our game on Solana, scale our infrastructure, and provide native support for common use cases like DEX/memecoin trading.” Armstrong also promised to give Solana the same top-level support as Bitcoin (BTC), Ethereum (ETH), and Base, though he didn’t go into specifics.
The crypto community remains skeptical. One user, @PAGANDWOLF, pointed out that the exchange “had many years to fix these problems, including issues from last bull markets when volume is high.” The latest incident, tied to Solana’s surge in activity, seems to have overwhelmed the platform’s systems.
Armstrong noted that the increased traffic is a good thing for Solana but admitted the exchange needs to handle it better. “The surge in activity is great for the ecosystem (and these are high quality problems to have), but we need to do a better job serving our customers during periods of high demand,” he said.
CryptoCurrency
Over 5,000% Growth? Dogecoin Analyst Predicts $20 Price Tag
A crypto analyst has set a lofty price target for Dogecoin: $20. Based on the meme coin’s current price of $0.365, the forecast represents a substantial 5,380% increase.
Although a captivating concept, this perspective was sufficient to elicit both optimism and skepticism within the cryptocurrency community.
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History Shows Dogecoin Thrives After US Political Shifts
Dima James Potts connects his forecast to past trends, noting that Dogecoin usually goes up after US presidential inaugurations. He points out past instances when the coin’s value went up a lot because of heightened political and social interest.
While historical performance doesn’t guarantee future success, this trend offers an intriguing glimpse into DOGE’s potential.
Potts examined Dogecoin’s weekly chart, paying particular attention to the cryptocurrency’s notable price fluctuations following the last two US presidential inaugurations.
Following the occurrence, DOGE saw a spectacular 30x price surge in 2017, and in 2021, it exceeded forecasts with an 80x rally. These past spikes have set the meme coin up for a trend of impressive post-inauguration performance.
$DOGE $10+ DOGECOIN?! 🚀🚀
This weekly chart of #DOGECOIN shows its performance in the days and weeks following each presidential inauguration (indicated by vertical green lines).
• 1st cycle (2017): Dogecoin increased 30X after the inauguration date.
• 2nd cycle (2021):… pic.twitter.com/3unXeJ8YKu
— Ðima James Potts (@DimaPotts36) January 19, 2025
Potts predicts comparable growth potential for the 2025 cycle. Just before the inauguration, Dogecoin was selling at $0.38. He believes that a 55x surge, which is the average of the prior cycles, might push the price above $20.
With the help of celebrity endorsements, especially billionaires like Elon Musk, Dogecoin’s exceptional ability to attract public attention may be crucial to this prediction. Historical momentum and strong community support could pave the way for yet another significant rally.
$20 Is Bold, But Not Impossible
Potts believes Dogecoin’s path to $20 depends on key developments within its ecosystem. A heightened level of utility, new use cases, or relationships with companies around the world might all increase its value.
However, such a value would required levels of adoption and persistent market demand previously unseen.
Skeptics say that DOGE may be unable to sustain such growth since it is not as utilitarian as other cryptocurrencies. Still, given its meme coin status, anything is possible in the volatile crypto market.
Broader Market Dynamics
The state of the world market will have a big impact on Dogecoin’s growth. Potts claims that macroeconomic conditions that are favorable to DOGE may cause it to approach his $20 target.
On the other hand, regulatory pressures or the general pessimism in the market could get in the way of the coin’s trajectory.
At the time of writing, DOGE was trading at $0.3651, up 7.3% and 1.2% in the daily and weekly timeframes.
Like most cryptocurrencies, the value of Dogecoin is influenced by sentiment and demand. Maintaining any obvious progress will thus depend on keeping a strong community presence while drawing fresh investment.
Related Reading
Proceed With Caution
While some people find the idea of Dogecoin hitting $20 exciting, investors should be careful. The crypto market is very unpredictable, and even the best forecasts can be thrown off by unexpected events.
Featured image from DALL-E, chart from TradingView
CryptoCurrency
Long-Term Bitcoin (BTC) Holder Sales Seem to Have Bottomed Out: Van Straten
Long-term holders of bitcoin (BTC) seem to ended their selling spree, a change in strategy that’s helped convert the psychological $100,000 resistance price into a support level for the first time.
With one, short-lived exception, the largest cryptocurrency has held above $100,000 since Jan. 17. The past few days have been extremely volatile due to President Donald Trump’s inauguration, which saw a spike in volatility.
Long-term holders, or investors who have held bitcoin for over 155 days, have been among the biggest contributors to selling pressure on the market, according to CoinDesk research in December. They are deemed “smart money” because they tend to buy when bitcoin prices are depressed and sell into strength, a pattern that’s been observed over the past four months.
In September, this cohort held 14.2 million BTC. It now holds 13.1 million BTC. While the investors held back around the start of the year, sales have picked up again in recent days as the price rose, though at a reduced pace.
The trend to watch out for is when they stop selling. This tends to mark a top in the cycle, which has occurred in 2013, 2017, 2021 and 2024.
CryptoCurrency
Jellyverse Launches its Synthetic Assets Protocol jAssets
Sei Network-based (SEI) community-led decentralized finance (DeFi) platform Jellyverse is launching its own synthetic assets protocol, jAssets.
According to a Jan. 21 announcement, jAssets will allow users to mint their own synthetic asset tokens that would approximately track the value of traditional assets. The value of those tokens would be tied to real-world assets like stocks, commodities and precious metals.
Jellyverse moved ahead with the implementation of the new feature following a proposal seeing a positive outcome in an integration vote by the protocol’s decentralized autonomous organization (DAO.) Minting jAssets by locking up crypto as collateral allows for on-chain portfolio diversification.
Benedikt Keck, co-founder at Jellyverse developer Blkswn, explained that the new product will allow for “portfolio diversification in DeFi by offering a range of innovative investment strategies, including long, short, and leveraged positions.” The new synthetic assets protocol also allows for multi-collateral troves, with support for “wETH, wBTC, JLY, SEI, USDC, USDT, FRAX or GEM or a combination of these assets as collateral,” he explained.
Jellyverse relies on decentralized oracles and over-collateralization to ensure that the value of the collateral exceeds the synthetic assets and prevent the protocol from losing assets. The oracles in question are based on Pyth Network (PYTH).
A blockchain oracle is a tool or service that feeds external, real-world data into a blockchain so smart contracts can act on it. Usually, data that is external to blockchains cannot be accessed in the smart contracts that govern the DeFi space.
Oracles serve as a bridge providing up-to-date data — in this case real-worAld asset pricing data. This bridge is also a potential centralized point of failure in a decentralized system, which is why a lot of effort has been dedicated to developing decentralized oracles such as Chainlink (LINK) and Pyth Network.
Jellyverse runs on the Sei Network, a layer one blockchain with parallel Ethereum Virtual Machine (EVM) execution. This allows the smart contracts that the DeFi space relies on to run much faster and allow for faster trades.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
CryptoCurrency
US court overturns Tornado Cash sanctions in pivotal case for crypto
In a win for crypto privacy technologies, a US court in Texas has overturned Tornado Cash sanctions.
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Labour to force grieving military families to pay inheritance tax in ‘corrosive’ rule change
Labour MPs have voted to impose inheritance tax on death-in-service payments for military families for the first time, as part of changes backed by Rachel Reeves.
The new rules will force children and unmarried partners of deceased service personnel to pay death duties on the benefit from April 2027.
Death-in-service payments, which are currently tax-free lump sums given to families of deceased Armed Forces members, will now go into probate if not left to a spouse or civil partner.
The payments typically amount to four times the late individual’s salary and are paid whether the service member was on or off duty at the time of death.
The Head of the Forces Pension Society has urged the Government to reverse the decision
PA/Getty
Under the changes, military personnel who die while “off duty” – such as from sudden illness or accident – will see their death-in-service payments subject to inheritance tax. Those who die “on duty” will continue to benefit from separate tax-free arrangements.
The new rules mean that payments intended as compensation for families could be reduced by up to 40 per cent in inheritance tax.
Military servicemen and women cannot avoid this tax by putting the payment into trust, as they are part of the Armed Forces pension scheme.
The head of the Forces Pension Society, which represents more than 66,000 members, has written to HMRC urging the Government to reverse the decision.
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Mark Francois said the decision was “deeply regrettable”
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Major General Neil Marshall, chief executive of the Forces Pension Society, warned that the rule change would be “corrosive” and undermine trust among Armed Forces personnel towards the Government.
“If service people are thinking ‘What if? What if? What’s the Government going to do next to undermine the offer to undermine my commitment to service?’ It’s corrosive,” he told The Telegraph.
In a letter to HMRC, Major General Marshall expressed serious concerns about the policy’s impact on military effectiveness.
“Given the high-risk nature of military service… a policy that discriminates against those who are not married or in a civil partnership poses a serious threat to morale, team cohesion and ultimately operational effectiveness,” he wrote.
Shadow Armed Forces Minister Mark Francois also criticised Labour’s inheritance tax changes as “deeply regrettable” and against the spirit of the Armed Forces Covenant.
The spokesman from the Treasury confirmed that existing inheritance tax exemptions would continue for those who die from wounds, accidents or diseases contracted on active service.
A spokesman said: “We value the immense sacrifice made by our brave Armed Forces, that is why existing inheritance tax exemptions will continue to apply, meaning that if a member of the Armed Forces dies from a wound inflicted, accident occurring or disease contracted on active service, they will be exempt.
“Any pension funds left to a spouse or civil partner in this scenario will also be exempt.”
CryptoCurrency
What Is Qubic (Qubic) Crypto
Qubic (Qubic) crypto is a digital coin made by Sergey, a famous person in blockchain. It’s set up as a cool layer-1 protocol, aiming to shake up the usual ways in the cryptocurrency world.
What distinguishes Qubic from other projects is its focus on distributed computing and finance. By leveraging its unique features, Qubic has the potential to make significant strides in these areas.
Key Takeaways
- Qubic (Qubic) crypto is a project that seeks to enhance blockchain technology through the integration of artificial intelligence (AI) capabilities. By combining AI with blockchain technology, Qubic aims to improve the efficiency and functionality of decentralized systems. This integration has the potential to bring about new solutions and advancements in the cryptocurrency space. Qubic’s approach aligns with the ongoing trend of exploring innovative methods to optimize blockchain technology.
Qubic Founders
Qubic, established by CFB and Sergey Ivancheglo, introduces a novel approach to cryptocurrencies by incorporating AI training. Emphasizing artificial neural networks and smart contracts, Qubic tokens function as the foundation of this innovative system. Leveraging computational power from a vast network of nodes, Qubic distinguishes itself in the cryptocurrency sphere for its distinct consensus mechanisms and distributed computing methods.
The collaborative work of CFB and Sergey Ivancheglo has positioned Qubic to redefine the landscape of blockchain technology. Their combined expertise has led to the creation of a platform that not only enables secure and decentralized smart contracts but also boosts the efficiency of AI training activities.
By integrating artificial neural networks, Qubic optimizes its computational network’s capabilities, ensuring that each node plays a significant role in enhancing the network’s overall performance. This strategic approach to utilizing computational power establishes Qubic as an innovative player in the cryptocurrency realm.
The first ever useful PoW L1 Blockchain
The first ever useful PoW L1 Blockchain, established by Sergey, incorporates AI training to improve the efficiency and practical applications of cryptocurrencies. Qubic’s Useful Proof-of-Work consensus mechanism utilizes 676 Computors for smart contract execution, emphasizing energy efficiency and tangible results. The network’s top 451 performing Computors are regularly assessed to ensure optimal performance. By leveraging computational power for training Artificial Neural Networks, Qubic enhances the productivity of computational energy, yielding valuable outcomes.
QU tokens serve as utility tokens within the network and are burned to mitigate inflationary pressures, promoting ongoing stability. Through AI training activities, Qubic aims to reduce energy wastage typically associated with traditional Proof-of-Work mining, potentially leading to lower energy expenses as AI models progress.
The platform also supports secure and decentralized smart contracts and oracle services using IOTA’s Tangle, positioning Qubic as a pioneering platform for diverse real-world applications in decentralized finance, supply chain management, data-driven smart contracts, and IoT device support.
Key Features of Qubic Crypto
These components are designed to improve the network’s efficiency, security, and ability to integrate digital and real-world data seamlessly.
Smart Contracts
Qubic Crypto integrates AigarthAI and implements a burn mechanism in its Smart Contracts to improve efficiency and security. These Smart Contracts utilize Useful Proof of Work with AI tasks, ensuring a secure and efficient execution process.
By incorporating AI training tasks into the consensus mechanism, Qubic enhances the overall performance of smart contract operations. The quorum-based computation on the Qubic network further boosts the speed and reliability of these contracts.
Through Oracles that connect digital and real-world data, Qubic facilitates a wide range of applications for its Smart Contracts. This strategic approach not only addresses scalability issues in cryptocurrencies and enhances the IOTA ecosystem but also paves the way for innovative AI applications in the blockchain domain.
Useful Proof of Work
Qubic Crypto utilizes AI tasks in its Useful Proof of Work system to enhance computational efficiency and produce meaningful outcomes. This innovative approach redefines traditional Proof of Work mining by not only verifying transactions but also generating practical results through AI training tasks.
The integration of AI into the consensus mechanism improves the network’s energy efficiency and fosters advancements in real-world applications. Through collaboration between Miners and Computors, Qubic ensures optimal utilization of computational resources, promoting a more sustainable blockchain ecosystem.
The focus on energy-efficient AI tasks distinguishes Qubic in the crypto industry, positioning it as a leader in leveraging advanced technologies to address scalability issues and explore new opportunities for machine learning and AI applications.
Quorum
The quorum mechanism in Qubic Crypto plays a crucial role in enhancing computational efficiency and enabling real-world applications. By leveraging a quorum, Qubic ensures the swift and accurate execution of smart contracts.
This consensus mechanism improves the network’s performance and facilitates the seamless integration of real-world data. The quorum-based computation model in Qubic Crypto utilizes the collective agreement of a subset of nodes to efficiently validate transactions.
This approach allows Qubic to achieve consensus quickly and securely, opening up possibilities for innovative applications in decentralized finance, supply chain management, and IoT devices. The involvement of the quorum in the network’s operations underscores Qubic’s focus on efficiency and practicality.
Oracles
Oracles play a critical role in the Qubic cryptocurrency ecosystem by acting as intermediaries that connect digital smart contracts with real-world data sources in a secure and decentralized manner.
These oracles facilitate the integration of external data into the Qubic network, ensuring the accuracy and reliability of information used in smart contract execution.
By utilizing oracles, Qubic smart contracts gain access to real-time data streams, enabling a wide array of applications such as decentralized finance, supply chain management, and the integration of IoT devices.
This incorporation of oracles enhances the functionality and practicality of Qubic, enabling the seamless execution of sophisticated and data-driven smart contracts that cater to diverse industries and applications.
Should you Invest in Qubic
Qubic’s market performance shows a mix of volatility and growth potential. As of the latest data, Qubic’s price has seen fluctuations, with recent predictions suggesting possible significant increases in its value over the coming years.
Currently at the price of $0.000004579 is not that far from its all-time high at $0.00001244 achieved on March 2nd, 2024.
For instance, price predictions for 2050 suggest a substantial increase, indicating a long-term positive outlook. However, the cryptocurrency market is inherently volatile, and such predictions should be approached with caution.
Where to Buy Qubic Crypto
To acquire Qubic (QUBIC) tokens, users can utilize various cryptocurrency exchanges that support this digital asset. Qubic Crypto is currently listed on platforms such as Bitfinex, HitBTC, and Exrates, enabling individuals to buy and trade QUBIC tokens.
Prior to selecting an exchange, it’s recommended to conduct thorough research on factors such as security measures, trading volume, and overall user experience.
Once a suitable exchange is chosen, users can create an account, deposit funds, and proceed with purchasing Qubic tokens to engage with the Qubic ecosystem and its blockchain technology.
Frequently Asked Questions
Is Qubic Coin a Good Investment?
Investing in Qubic may be considered a strategic choice due to its unique combination of AI training and Useful Proof-of-Work consensus mechanism. The platform’s emphasis on practical applications and energy efficiency indicates potential for long-term development.
When Was Qubic Crypto Launched?
Qubic crypto was launched in 2018, representing a significant advancement in blockchain technology. This launch marked a notable integration of artificial intelligence and finance within the realm of cryptocurrencies.
Conclusion
Qubic (QUBIC) is a unique cryptocurrency designed to combine blockchain technology with artificial intelligence (AI). This digital asset uses a specialized consensus mechanism called Useful Proof-of-Work (PoW), where computational tasks generate practical outputs, like AI training. The goal is to improve energy efficiency in mining and create a more sustainable ecosystem.
Founded by Sergey Ivancheglo, Qubic employs 676 Computors to execute smart contracts and AI tasks. The top 451 Computors are regularly evaluated to ensure optimal performance, aiming to reduce energy wastage associated with traditional PoW. This system also enhances the security and scalability of the blockchain, making it more adaptable to real-world applications.
Investors interested in Qubic should note that its unique approach has the potential for growth, but like all cryptocurrencies, it can be volatile. Key features like its Useful PoW mechanism and AI integration are what set Qubic apart in the cryptocurrency space.
Qubic (QUBIC) presents a compelling option for those interested in innovative blockchain technology, with a focus on AI integration and energy efficiency. However, like all cryptocurrency investments, thorough research and caution are recommended before committing funds.
Other cryptocurrencies to check:
BigEyes Crypto, Renq Crypto, Digitoads Crypto, TitanX Crypto and BurgerCities Crypto.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
CryptoCurrency
Whales pour into this altcoin positioned to surpass SOL and XRP by 2026
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Rollblock, a smart altcoin set to disrupt the $540 billion gambling industry, is gaining big backing and could surpass SOL and XRP by 2026.
Big players in the crypto world are betting on a new altcoin that is set to disrupt the market. With massive potential and new technology, this rising star, called Rollblock, is gaining traction fast. In fact, experts predict that it could outperform giants like SOL and XRP by 2026.
Does Rollblock have what it takes to be a top crypto?
Rollblock is flipping the script on the $540 billion online gambling industry with a new approach. This top crypto casino isn’t just shaking up the game, it’s tearing down the walls of secrecy that have haunted the sector for decades. For years, the gambling world has been plagued by trust issues, with reports revealing that gambling platforms manipulate bets to exploit players.
This flawed system is a gambler’s worst nightmare, as its whole functionality is based on rigging the gambling process. With Rollblock, gamblers can rest assured that transparency is built into the system. Every bet, every transaction, is securely encrypted and recorded on the Ethereum blockchain. Players no longer have to take the casino’s word for it, they can verify every move themselves.
This approach has ignited a frenzy of interest. In December 2024 alone, Rollblock saw a staggering 600% surge in new users, with over $1.75 million in bets placed. Thankfully, this momentum isn’t slowing down. January’s numbers are set to double, proving that when you put players first, everyone wins.
Solana faces a future filled with green charts
Excitement has been high in the SOL altcoin community recently as it reached an ATH of $293.79. Although this rise shows increased investor confidence in its high-performance blockchain, the main attributing factor is likely Donald and Melania Trump’s new TRUMP and MELANIA crypto launch.
This positive news surrounding SOL has pushed CoinCodex analysts to make predictions that SOL could fall between the $377.43 and $407.39 price marks by December 2025. Given that SOL has risen more than 190% from this time last year, if everything goes well for SOL, its 2025 price trend could mirror that of 2024.
XRP set to skyrocket before Q1 ends
Like SOL, XRP has also witnessed an uptrend due to the positive sentiment around Donald Trump’s inauguration. In the past week alone, XRP has witnessed a 21.76% surge, which is in line with predictions from altcoin experts like Lai Jr. A week before Trump’s presidential inauguration, Lai Junior made a post on his X page, predicting that XRP could reach $10–$34 by March.
From the look of things, XRP might hit and even cross the $34 price mark before March. This prediction is backed up by its technical data charts, which show that it has RSI at 70. With this value, it is evident that XRP might witness another sharp rise soon.
Conclusion
While the sentiment around SOL and XRP is positive, their growth cannot be compared to that of Rollblock. Rollblock is getting set to take over crypto headlines by selling its native RBLK tokens via its presale. These tokens, which are now valued at $0.046 each, might soon be the face of the crypto gambling industry.
To learn more about Rollblock, visit the website and its socials.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
CryptoCurrency
Ripple vs. SEC Settlement Rumors Gain Momentum: Here’s Why
TL;DR
- Speculation is rising that the SEC’s upcoming closed meeting under new Acting Chairman Mark Uyeda might address the Ripple lawsuit, but experts warn against expecting major developments.
- Despite Gensler’s exit, the Ripple-SEC legal battle continues, with disputes over XRP’s classification and an ongoing appeal delaying resolution.
Incoming Resolution or Just Another Speculation?
The lawsuit between Ripple and the US Securities and Exchange Commission (SEC) remains ongoing despite numerous legal developments and changes in the agency’s leadership. Recall that the regulator’s Chairman, Gary Gensler, officially stepped down on January 20 and was replaced by crypto proponent Mark Uyeda.
The Commission has scheduled its first closed meeting under the new Acting Chairman for January 23, causing the XRP Army to speculate that the case against Ripple might be on the agenda this time. Some of the most optimistic predictions include a dismissal of the lawsuit.
It is worth mentioning that the SEC conducts such meetings quite frequently, and there are no public records showing that it has touched upon the aforementioned legal tussle in any of them.
Marc Fagel – a former regional director of the SEC for the San Francisco office – claimed that those expecting “something monumental to happen” at the upcoming gathering “are about to be disappointed.”
“This is the same meeting they hold nearly every week. They will vote on recommendations calendared weeks ago,” he assumed.
Not so Fast
The anti-crypto Gensler might be out of the SEC, but the official resolution of the case against Ripple remains challenging. After all, the entities have been confronting each other in court for over four years, throwing punches at each other on every possible occasion.
The core issue in the lawsuit is whether XRP (Ripple’s native token) should be classified as a security. The SEC argues it was sold as an unregistered investment, while the company insists it is a digital asset used for payments and not subject to securities laws.
In 2023, Judge Analisa Torres ruled that XRP sales on public exchanges to retail investors did not constitute securities transactions. A year later, she ordered Ripple to pay a fine of $125 million for violating certain rules.
The penalty represented just a fraction of the $2 billion the SEC initially asked for, and somewhat expected, the firm was ready to settle it.
However, the watchdog appealed the 2023 verdict and recently filed the necessary opening brief, thus prolonging the lawsuit indefinitely.
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Historical Patterns Hint At A Blow-Off Top Above $50
As XRP, currently the third-largest cryptocurrency by market capitalization, navigates recent fluctuations, analysts and market experts are optimistic about its potential for significant price growth.
After experiencing a brief dip toward $2.83 over the weekend, following an unsuccessful attempt to breach its all-time high of $3.40 set seven years ago, the sentiment surrounding XRP remains bullish.
Market Expert Foresees XRP Propelling To $53
In a recent post on X (formerly Twitter), market expert and technical analyst Egrag Crypto shared encouraging price targets for XRP investors, suggesting that historical price patterns indicate a possible blow-off top that could drive the token into double-digit territory.
Egrag highlighted three historical blow-off tops, demonstrating impressive percentage increases that XRP has experienced in the past: one saw a rise of 1,068%, another 2,636%, and a third recorded an increase of 406%.
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By analyzing these surges alongside corrective phases, Egrag Crypto formulated potential price targets for the next blow-off top for the altcoin, suggesting levels of $53, $32, and $9.70, all of them surpassing by clear difference the tokne’s current record peak.
Egrag previously noted the importance of a critical price range between $4 and $5, indicating that once XRP reaches approximately $4.40, it will enter a “powerful energy field” that could significantly propel prices higher.
The analyst emphasized that traders should closely monitor price action, candle formations, and oscillator behaviors in this range to determine whether the market is poised for a substantial rally or facing a potential correction.
Despite the optimistic outlook, Egrag urged caution, stating, “I’m still feeling #BULLISHAF, but it’s crucial to remain level-headed when trading and investing, especially with #XRP.”
He expressed concern that market dynamics might be encouraging retail investors to exit, which could be a strategy to enable the emergence of two-digit prices.
Aiming For A 40% Surge Amid Impressive Monthly Performance
Supporting this bullish sentiment, market analyst Ali Martinez has also weighed in on XRP’s trajectory, noting that the cryptocurrency has recently broken out of a bullish flag and is now targeting the $4.40 mark.
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This indicates a near-term uptrend of nearly 40% for the altcoin, complementing its impressive monthly performance, which has already seen a surge of 43%. However, despite these positive figures, XRP is currently trading at $3.16, still 7.2% below its all-time high.
The price levels of $3.35 and $3.40 have proven to be significant hurdles for the altcoin, representing crucial barriers that must be overcome to initiate a price discovery phase.
On the downside, the token has established a significant price support range between $2.70 and $2.80 over the past week. This area has become a notable buying zone for investors anticipating further price increases.
Featured image from DALL-E, chart from TradingView.com
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The old and New Edition cast comes together to perform You’re Not My Kind of Girl.
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Sports8 years ago
Ethical Hacker: “I’ll Show You Why Google Has Just Shut Down Their Quantum Chip”
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Business8 years ago
Uber and Lyft are finally available in all of New York State
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Entertainment8 years ago
Disney’s live-action Aladdin finally finds its stars
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Sports8 years ago
Steph Curry finally got the contract he deserves from the Warriors
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Entertainment8 years ago
Mod turns ‘Counter-Strike’ into a ‘Tekken’ clone with fighting chickens
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Fashion8 years ago
Your comprehensive guide to this fall’s biggest trends
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