Community pundit Jack argued XRP’s potential to attain $100 and $10,000 after the SEC lawsuit ends.

Previously, he asserted that $1,000 per XRP is “peanuts” considering the tokenization market.

Ripple is challenging the SEC’s proposal for nearly $2 billion in fines today.

Members of the XRP community continue to speculate about XRP’s outlook upon the conclusion of the multi-year legal battle involving Ripple and the SEC. Community member Jack, with 212.6K followers on X, recently weighed in on this discussion. 

Jack emphasized that the Ripple-SEC lawsuit’s conclusion means XRP has complete regulatory clarity to function as the first cross-border payment asset in the US. Accordingly, he argued that a three to five-digit value for XRP upon the termination of a protracted legal battle with the US regulator “is inevitable.” 

The SEC v. RIPPLE case will come to an End and #XRP will become the first digital asset with FULL regulatory clarity in the United States of America for cross-border settlements!3-5 digits per XRP is inevitable. pic.twitter.com/BmSf6jxTg6

— JackTheRippler ©️ (@RippleXrpie) April 22, 2024

Notably, the outlook suggests the community pundit expects XRP to be between $100 and $10,000 sometime in the future. Jack’s latest commentary on XRP’s potential value expanded upon his earlier assertive claim that XRP trading at $1,000 would be “peanuts.” At the time, he grounded the forecast on XRP Ledger’s utility in the tokenization market.

Jack speculated a scenario wherein $50 trillion in tokenized value passes through XRPL. As a result, he concluded that $1,000 per XRP is a trivial target in light of the immense potential within tokenization. 

Now, this XRP enthusiast has issued an even bolder outlook for XRP when Ripple’s regulatory hurdle concludes. One of the most recent updates in the SEC vs Ripple case involves Ripple’s Chief Legal Officer Stuart Alderoty announcing plans to file an opposition to the SEC’s request for nearly $2 billion in penalties from the company. This opposition filing will occur today, April 22.

Last month, the SEC proposed a judgment requiring Ripple to pay $1,950,768,364 in fines and penalties for its alleged violation of federal securities laws. Should the court adopt this proposed judgment, Ripple must settle the $1.95 billion amount within 30 days of the ruling.

However, Ripple’s team is not receptive to this proposal and plans to challenge it today with a counter-filing.

The post Pundit Foresees XRP Between $100 and $10,000 After SEC Suit Ends appeared first on Coin Edition.

As cryptocurrency investors continue to seek the next big breakout, many who missed the recent SingularityNET (AGIX) pump are now setting their sights on a new contender in the crypto space—Option2Trade (O2T). This innovative trading platform is rapidly gaining traction among savvy investors, particularly whales who are known for their strategic investment moves and are now predicting a staggering 2000x growth from O2T.

SingularityNET (AGIX): A Brief Overview

SingularityNET (AGIX) has made significant waves in the cryptocurrency world with its unique proposition of democratizing access to artificial general intelligence (AGI). By leveraging a decentralized platform, SingularityNET (AGIX) allows for the effortless creation, sharing, and monetization of AI services. Since its inception, SingularityNET (AGIX) has been instrumental in providing tools that help other companies launch their AI-driven products effectively.

The Rise of Option2Trade (O2T)

While SingularityNET (AGIX) focuses on AI services, Option2Trade (O2T) brings a fresh perspective to the crypto trading sector by integrating AI into its trading platforms. Option2Trade (O2T) offers features that not only enhance trading decisions through automated analytics but also provide advanced risk management tools that appeal to both novice and seasoned traders.

Why Whales Are Betting on Option2Trade (O2T)

The interest in Option2Trade (O2T) among cryptocurrency whales can be attributed to several key factors:

Advanced Technology: Just as SingularityNET (AGIX) revolutionized the AI space, Option2Trade (O2T) is set to transform trading with its hybrid A.I. exchange platform, making it easier for users to make informed decisions with enhanced AI algorithms.

High Growth Potential: The early success and robust technological foundation of Option2Trade (O2T) suggest it has the potential to mirror or even surpass the gains seen by SingularityNET (AGIX).

Diverse Use Cases: Unlike SingularityNET (AGIX), which is heavily AI-focused, Option2Trade (O2T) caters to a broader market by providing diverse trading tools that are applicable across various cryptocurrencies, enhancing its utility and appeal.

The Market Response

As SingularityNET (AGIX) investors reflect on their gains, the focus is shifting towards projects like Option2Trade (O2T) that offer new opportunities. The recent developments and announcements from Option2Trade (O2T) have sparked a notable increase in trading volume, indicating a robust market interest.

SingularityNET (AGIX) and Option2Trade (O2T) Comparison

While SingularityNET (AGIX) has established a niche in AI services, Option2Trade (O2T) is carving out its own in the AI-enhanced trading space. Both platforms utilize the power of blockchain to deliver unique solutions but cater to different needs and markets. This distinction is crucial for investors looking to diversify their portfolios beyond traditional offerings like SingularityNET (AGIX).

Looking Ahead

With the crypto market’s dynamics constantly evolving, platforms like Option2Trade (O2T) that innovate and adapt to user needs stand a better chance of success. The enthusiastic reception from whale investors is a testament to the confidence in Option2Trade’s (O2T) potential to achieve exponential growth and establish a new standard in the cryptocurrency trading arena.

Conclusion: A Promising Horizon

As we move forward, the trajectory for Option2Trade (O2T) looks promising, with potential to disrupt the market much like SingularityNET (AGIX) did in its prime. For investors who missed out on the SingularityNET (AGIX) pump, Option2Trade (O2T) presents a golden opportunity to be part of a pioneering movement in the crypto space, promising not just returns but also a new era in AI-enhanced trading.

For more information on the Option2Trade (O2T) Presale: 

Use promo code O2T Launch to get 15% bonus

Visit Option2Trade (O2T)

Join and become a community member: 

https://t.me/O2TOfficial

https://twitter.com/Option2Trade (O2T)

Martti Malmi, also known as Sirius, an early student of pseudonymous Bitcoin creator Satoshi Nakamoto, recently disclosed over 250 emails with Satoshi, providing valuable insights into the early days of Bitcoin and Satoshi’s vision for the cryptocurrency.

According to the emails, Satoshi emphasized that Bitcoin is not meant to be an investment or a way to make money. Instead, its true purpose is to create a peer-to-peer electronic cash system that allows for secure and decentralized transactions.

Notably, in an email dated May 3, 2009, Satoshi wrote, “Bitcoin is a peer-to-peer network based anonymous digital currency. Peer-to-peer (P2P) means that there is no central authority to issue new money or to keep track of the transactions. Instead, those tasks are managed collectively by the nodes of the network.”

Satoshi also highlighted the energy efficiency of Bitcoin’s proof-of-work (PoW) consensus algorithm, stating that it consumes less energy than traditional banking systems. He noted that the PoW algorithm is the only solution to make a peer-to-peer electronic cash system work without a trusted third party.

Satoshi also emphasized the importance of creating a user-friendly interface and a clear explanation of how Bitcoin works to attract new users. He suggested creating a website with a FAQ section and a clear explanation of how to use Bitcoin.

In an email dated August 24, 2009, Satoshi wrote, “It would be sweet if there was some way to horn in on a market like that as the official virtual currency gets clamped down on with limitations.”

The emails also reveal Satoshi’s support for creating a currency exchange service that allows users to buy and sell Bitcoins for Euros and other currencies. He noted that this would make it easier for users to exchange their Bitcoins for other currencies, making it more accessible and user-friendly.

“That’s great, I could probably get a donor to send currency to you which you convert to euros and pay out through methods that are convenient for users. I don’t want to do an exchange business myself, but it can be done independently of me.” Satoshi wrote on an August 24, 2009, response to Malmi’s proposition for an exchange.

Notably, Satoshi’s vision has since evolved, with various Bitcoin exchanges established, paving the way for broader adoption and usability. One such exchange, Bitcoinexchange.com, was initially conceived with Nakamoto’s input and later led by Martti Malmi. Nakamoto served as an advisor for the exchange’s inception, advocating for practical strategies such as fixed exchange rates over auction-based systems.

Malmi’s revelations highlight Nakamoto’s unwavering commitment to Bitcoin’s foundational principles of decentralization, accessibility, and utility as electronic cash. This commitment underscores the enduring relevance of Satoshi’s vision, even as Bitcoin continues to evolve and adapt to new circumstances.

In a chart analysis shared via X, the crypto analyst Dark Defender provided insight into the potential price movements of XRP ahead of this week’s Ripple-SEC case update. The analysis, conducted on a monthly time frame, reveals that XRP has been holding above a critical support trend marked in blue. With the crypto community’s eyes set on the new Ripple filings expected next week, there’s a mix of anticipation and caution.

XRP Price Enters Potentially Crucial Week

Dark Defender notes that although market news does not typically have a direct correlation with price movements, the “last puzzle piece” pertaining to the Ripple case may add a layer of enthusiasm to the market sentiment surrounding XRP. The question posed is: What could happen if XRP fails to maintain its position above the blue support line?

XRP price analysis | Source: X @DefendDark

According to the analysis, if XRP breaks below this blue support line, it will likely approach the two critical Fibonacci retracement levels at $0.4623 (38.2% retracement level) and $0.3917 (23.6% retracement level). These figures are derived from the swing high and low points on the chart, traditionally considered potential support levels where the price could stabilize or bounce back.

In the context of the current chart, a drop below these levels, particularly if the price closes under $0.3917 for two to three days consecutively, would invalidate the bullish five-wave structure that Dark Defender suggests could propel XRP to a high of $5.85. On the flip side, should XRP reclaim the 61.8% Fibonacci level at $0.6044, it could signify a first step towards a strong upward move.

Between the price range of $0.6649 and $0.3917, any price movement is considered a sideways trend. A breakout above the 70.2% level at $0.6649 would likely confirm a bullish trend, with the analyst highlighting this as a significant threshold for a positive price trajectory. Above this level, XRP would then eye the next Fibonacci extension levels of $1.8815 (161.8% extension) and potentially $5.8563 (261.8% extension), which are ambitiously projected targets.

The chart also highlights a “Main Resistance Trend” line that has capped the price since the peak of early 2018, and the current price action is pinched between this descending resistance and the ascending support trend lines, forming a converging pattern that traders often interpret as a potential breakout signal.

A breakout could be the first bullish indication of a larger rally, with at least one monthly close above the line required. In the past, several attempts at a breakout have failed, and even one monthly close was followed by a fall back below the trendline the following month.

Ripple Vs. SEC: What To Expect This Week

Ripple Labs is gearing up to file its response to the US Securities and Exchange Commission’s (SEC) remedies briefing on April 22, a pivotal moment in their protracted legal battle. This response from Ripple is in reaction to the SEC’s briefing that put forth potential remedies including disgorgement of profits derived from XRP sales and civil penalties. The financial stakes are high, with the SEC calculating fines that could reach around $2 billion, claiming that Ripple engaged in an unregistered securities offering with its XRP sales.

The legal and financial communities expect Ripple to mount a formidable defense against the SEC’s claims. Key to this counter-argument will be undermining the SEC’s assertion of the necessity for disgorgement, given the alleged lack of demonstrable financial harm to XRP purchasers. Furthermore, Ripple is likely to leverage favorable recent legal decisions and regulatory developments, aiming to weaken the SEC’s position.

According to the schedule, Ripple is expected to submit a public redacted version of its opposition brief along with associated declarations and exhibits today, if these materials are devoid of any SEC-designated confidential information. If confidentiality is a concern, Ripple will file the documents under seal and submit a redacted public version by April 24. Following this, the SEC will have the opportunity to reply, with their response anticipated to be filed under seal by May 6.

At press time, XRP traded at $0.53.

XRP price, 1-week chart | Source: XRPUSD on TradingView.com

Featured image from NameCoinNews, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

The post Analyst Outlines XRP Price Scenarios Ahead Of Ripple-SEC Case Update appeared first on Crypto Breaking News.

Those who understand price manipulation will make millions!

Learn it now or continue to be outplayed.

· Time: 5 min
· Profit: 100x by the end of 2024

Here's how whales manipulate the crowd.

Have you ever wondered how all these "smart money" players like whales, insiders, and manipulators operate in the market?

They form a group that controls the market and influences price direction.

And today, I'll reveal all the price manipulation they leave behind on the chart.

Simplifying things, trading for smart money players follows this pattern:

1. Asset accumulation
2. Pump
3. Re-Accumulation
4. Pump
5. Distribution
6. Dump
7. Re-Distribution
8. Dump

Whales know that due to their huge capital, they cannot throw $10M onto the market in just one transaction.

Such large transactions would cause an immediate price pump or dump.

This would signal to everyone that a major player has bought or sold the token.

Their main goal is to stay undetected while accumulating assets.

To avoid detection, large players use their capital to maintain prices at certain levels.

At the same time, they acquire a significant number of tokens through numerous small transactions.

Let's quickly sum up actions of smart money:

Phase 1
: Buy at specific levels within trading ranges.

Phase 2
: Sell at higher levels to take profit.

Now, you'll explore some price manipulation techniques used by these pros:

① FVG (Fair Value Gap) manipulation:

Fair Value Gaps are powerful tools that traders use to identify market imbalances and inefficiencies.

FVGs happen when buying or selling pressure causes significant price movements, creating gaps on price charts.

Over time, the price tends to move towards closing the FVG.

This makes it a reliable support or resistance level.

Here are some details:

➬ The big player doesn't benefit when many people profit.
➬ Smart money is always thinking about how they can deceive traders.
➬ After a pump, the price tends to roll back.
➬ So that those who entered after the FVG formation closed their positions.

How it can be useful for us:

Wait for the impulse and identify the gap between the 1st and 3rd candles.

Also remember simple principles:
~ Short FVG acts as resistance.
~Long FVG acts as support.

② Range manipulation:

Artificially created situation.

The aim is to reduce participation in the actual price movement by pushing the price in one direction, leading some traders to exit with losses.

Here are some details:

➬ Consolidation cannot last forever.
➬ After 4-5 touches of the top or bottom lines, they're usually broken.
➬ However, when the price hits a breaking point but then returns, it's considered manipulation.

How it can be useful for us:

Once the manipulation has occurred, it establishes a robust support or resistance level that influences how the price reacts.

If you found this article helpful, don't forget to:

➬ Follow me @BitEagle News for more.

#bitcoinhalving #Memecoins #BitEagleNews

Bitcoin transaction fees have significantly come down post-halving

The floor price for the Runes NFT collection has also come down. Runes was supposed to be the tool that maintained fee revenue post-halving

Bitcoin {{BTC}} started the week stable, changing hands above $65,800, as transaction fees have significantly lowered following the halving.

On-chain data from Mempool.space shows that medium-priority transactions are now costing $8.48 while high-priority transactions cost $9.32.

In the initial aftermath of the halving, these fees spiked to over $146 for a medium-priority transaction and $170 for a high-priority transaction.

The hashprice index, a metric created by Luxor to quantify how much a miner can expect to earn from a specific quantity of hashrate, has also dropped from $182.98 per hash/day to $81, a level below where it was at pre-halving.

While bitcoin miners anticipated that the halving would significantly cut revenue, the introduction of Casey Rodarmor’s Runes protocol – designed to create fungible tokens on Bitcoin – which went live at the halving, was supposed to be the antidote to this, given the level of activity it would create on-chain.

Instead, in the initial days after the event, floor prices for the runestone NFT collection have dropped by almost 50% in the last 24 hours with a floor price of nearly 0.037 BTC, according to Magic Eden, while ordinal collections like Bitcoin Pullets and NodeMonkes are up 11% and 8% respectively according to CoinGecko data.

It should be noted that these ordinal collections also generate considerable transaction fees but don’t appear to be the same revenue source as many hoped Runes would be.

XRP’s market value has surged recently, buoyed by positive market sentiments and Bitcoin’s fourth block reward halving.

Bullish predictions based on Fibonacci levels and a surge in Open Interest in XRP derivatives indicate growing investor confidence.

Despite a rise in XRP’s price, trading volume has diminished.

XRP has recently witnessed a significant surge in its market value. This upward trajectory comes on the heels of Bitcoin’s fourth block reward halving, which has also positively influenced certain segments of the altcoin market. 

Investor enthusiasm has been buoyed by bullish market forecasts for XRP. Notable among these is a bullish projection from a respected cryptocurrency analyst, who has outlined ambitious target prices for XRP based on Fibonacci levels. These projections align with XRP’s current positioning within a historically significant support zone, reminiscent of its past market cycles. The analyst’s predictions have sparked lively discussions within the investment community, with many suggesting that XRP could soon surpass significant price thresholds.

Further evidence of anticipation for a substantial price movement in XRP comes from a surge in Open Interest in XRP derivatives. This surge in market participation serves as a strong indicator of investor confidence and could potentially foreshadow impending market movements.

Several key factors merit consideration. Fibonacci levels suggest considerable potential for XRP’s price to exceed the $1.2 threshold in the near future. The growth in Open Interest in XRP derivatives underscores the increasing market anticipation and readiness for substantial price changes. Additionally, the alignment of XRP’s price with historical support zones may signal a recurring pattern of bullish behavior.

As of now, XRP is trading at $0.5143, marking a notable increase over the past 24 hours. However, it’s worth noting that trading volume for XRP has declined during the same period. 

Read also:

Shiba Inu’s Price Teeters on the Edge: Will Key Levels Hold?

Bitcoin’s Fate: Balancing on the Edge of the U.S. Debt Dilemma

XRP Gains Edge As Ripple Secures 31 US Payment Licenses, Ignites Crypto Debate

Shiba Inu Enthusiast Unveils SHIB’s Competitive Edge on Road to $0.01

Rocket Pool (RPL) Price Prediction 2023: Will RPL Price Hit $95?

The post XRP Rockets Amid Bullish Predictions: Investors on Edge! appeared first on Crypto News Land.

Bitcoin transaction fees are climbing, a sign of heightened interest and activity on the blockchain. The recent halving event, paired with the introduction of the Runes protocol, has significantly influenced this rise. Such events drive up fees as users compete to process transactions quickly, especially since halvings reduce the mining reward, pushing miners to depend more on transaction fees.

The Impact of Runes on Bitcoin

Runes, a new protocol developed by Casey Rodarmor, has revolutionized how fungible tokens are created on Bitcoin’s network. Following its launch at block 840,000, the protocol saw 853 tokens etched in less than an hour, showcasing the high demand and increased activity. This rush has led to a substantial hike in transaction fees, with the fees for the halving block hitting $2.4 million compared to typical fees of $40,000 to $60,000. The urgency to mint new tokens has kept the fees consistently above $1 million for several subsequent blocks.

Runes!

What are Runes, why are they so interesting and why are they causing a huge spike in #bitcoin transaction fees…

Read on….

Runes is a new proposed token standard on Bitcoin that makes it easier and more efficient for users to create fungible tokens on the blockchain.…

— Bill Barhydt (@billbarX) April 20, 2024

Insights from Bitcoin Experts

Prominent developer Jimmy Song remarked during a livestream, “We’ve not had anything like this in the history of Bitcoin. We’re stressing the network in a different way, in ways we’ve never stressed it before.” This surge in fees and network activity highlights the transformative impact of Runes and similar innovations on Bitcoin’s ecosystem.

Fee Surges and Miner Adaptations

The median fee rate, measured in satoshis per byte, soared to 1,805 sats/vByte post-halving from about 100 sats/vByte previously. This dramatic increase means that even medium-priority transactions now cost around $146, with high-priority transactions nearing $170. Miners, facing reduced rewards from block discoveries, are increasingly relying on these higher transaction fees to sustain their operations.

Future Prospects of Bitcoin Fees

Looking forward, Bitcoin fees are expected to continue fluctuating with the network’s growing complexity and utility. The development of protocols like Runes and Ordinals introduces new functionalities but also pressures fees higher during peak activity periods. The challenge for the Bitcoin community will be to balance these innovations with manageable transaction costs to ensure the network remains accessible and efficient for all users.

Balancing Innovation and Cost

As Bitcoin evolves, integrating technologies like Runes brings excitement but also challenges in managing higher transaction costs. The community and developers must collaborate to maintain a balance where Bitcoin’s accessibility is not compromised by increased operational costs. Ensuring that Bitcoin remains a practical choice for users will be crucial as the network navigates through these exciting yet demanding technological advancements.

 

The post Ripple vs. SEC Lawsuit Update: Potential Supreme Court Showdown and $2 Billion Penalty Battle appeared first on Coinpedia Fintech News

The Ripple vs. SEC lawsuit might go to the Supreme Court. In fact, Ladan Stewart, the former SEC litigator has suggested this possibility. Hence, Ripple is getting ready for a major legal battle on April 22nd. 

The key debate is whether crypto tokens like XRP are securities. The SEC plans to appeal the ruling of 2023 in Ripple’s favour. Now, it has made a crucial demand against Ripple Labs as a penalty.

Ripple’s Legal Response to SEC and SEC Panellists’ Request

Ripple Labs is getting prepared to file its opposition against the SEC’s proposed penalties. The SEC is seeking a total of nearly $2 billion from Ripple for alleged violations of the Securities Act of 1933. It specifically focuses on unregistered XRP offerings.

The SEC’s proposed penalty includes disgorgement, prejudgment interest, and civil penalties, totaling almost $2 billion. Ripple executives have expressed disbelief at these penalties, especially without allegations of fraud or discussion on viable contracts. Previous settlement talks in March have failed to resolve disputes. 

Ripple’s Defense Strategy

On April 22, Ripple will be submitting a redacted version of its opposition brief to the SEC. They will include documents and evidence, supporting their cause. Some parts will stay private based on SEC rules, but a public version will come later. Ripple’s defence is likely to challenge the SEC’s penalty request. It would possibly refer to a court decision from the Aron Govil case and Coinbase’s clarity on secondary market sales

Currently, Attorney John E. Deaton wants to help 4,700 Coinbase customers in a case against the SEC. Coinbase is challenging a key rule about digital assets. If Coinbase wins, it could help Ripple in its own case against the SEC.

Read more: Ripple’s John Deaton Rallies Thousands of Coinbase Customers in Battle Against SEC

XRP’s Price and Legal Uncertainties Amid SEC vs XRP Case

Ripple’s legal battle with the SEC continues to impact XRP’s market. Bill Morgan has also highlighted the lawsuit’s damage and Ripple’s silence on XRPL. In spite of this, XRP shows resilience below $0.50. In addition, Brad Garlinghouse has emphasized Ripple’s strategy to merge traditional finance with crypto amidst US regulatory challenges. 

XRP price rose to $0.5030 on Friday. It was influenced by the tensions in the Middle East, and the SEC vs Ripple lawsuit. Price trends show XRP could go up to $0.5739 or drop to $0.45. 

XRP’s price signs are unclear at the moment, but might change soon. People are unsure because of legal issues and are waiting to see what Ripple does next.

Read more: Is the Ripple vs SEC Lawsuit Holding XRP Price Back?

Michael Saylor, founder of MicroStrategy business intelligence giant, has hinted at a massive surge in the BTC price after the halving takes place. In this case, he turned to how the events developed after the previous halving in 2020.

He also published a celebratory tweet once the halving finally happened.

Saylor points to clear correlation between BTC price and halving

Founder and former CEO of the above-mentioned business giant, who is now in charge of its Bitcoin strategy, took to the X platform to hint that he expects the Bitcoin price to see a tremendous boost after the fourth BTC halving.

He reminded his followers that after the previous halving hit the flagship cryptocurrency in 2020, the BTC price amounted to $8,618. Bitcoin reached a new all-time high of $69,000 in November 2023 and then, quite unexpectedly, skyrocketed to a new historic price peak in March this year before the fourth halving arrived.

$BTC was $8,618 on the day of the last #BitcoinHalving.

— Michael Saylor⚡️ (@saylor) April 19, 2024

As of today, when Bitcoin is changing hands at $61,043, BTC has increased roughly 800% despite all the massive volatility seen over these four years. VC investor and a big Bitcoin proponent Anthony Pompliano told CNBC this week that Bitcoin had surged approximately 40% in 2024 year-to-date.

As for BTC’s physical rival, gold, it has increased 11% over the past five years and just about 7% year-to-date this year. Pompliano concluded that those who have held gold over the past five years have lost purchasing power. Therefore, the status of gold as an asset that protects purchasing power has been basically debunked, Pompliano suggested.

As for Saylor, when the halving finally arrived earlier today, he posted a celebratory tweet, saying: “840,000 ₿locks of Truth.”

card

Analyst Plan B makes bullish BTC prediction

Prominent market analyst Plan B, who created the Bitcoin stock-to-flow model, has published a tweet to share a bullish prediction for BTC after the halving.

He tweeted that in accordance with his model, which takes BTC halvings into account, during the first half a year before the halving, “insiders frontrun it,” pushing the Bitcoin price 2x. Within the first six months, the analyst tweeted, his stock-to-flow model shows a 2x price increase. Over a longer period, such as 6-18 months after the halving, Bitcoin should surge 4x, he believes.

Happy bitcoin halving! (stock-to-flow doubling): - in the 6 months before the halving, insiders frontrun it: price 2x - in the 6 months after the halving, miner revenue adjusts: price 2x - 6-18m after the halving, the rest of the market rushes to get a piece of the pie: price 4x pic.twitter.com/xkV5fkpVdw

— PlanB (@100trillionUSD) April 19, 2024

The post RUNE Protocol Launches On The Bitcoin! What’s Next? appeared first on Coinpedia Fintech News

First proposed in September 2023, the RUNE protocol has gained significant attention from the crypto industry following its launch. The new token is designed to streamline the fungible tokens on the Bitcoin blockchain.

The RUNES protocol minters have already spent more than 80 Bitcoins in fees to acquire these tokens. The RUNES protocol is assumed to benefit Bitcoin’s fee economy in the coming time significantly. Positively, the RUNE protocol has already achieved the 20,000 holders mark.

THORChain Price Sentiments:

The RUNE price has recorded a bullish reversal of approximately 20% within 24 hours, indicating increased buying pressure in the cryptocurrency industry. However, the price has recorded a correction of 5.36% within the past seven days and 30.75% over the past 30 days.

At the time of writing, the price of the RUNE token was $5.363 and Its Year-to-Date (YTD) stood at +3.47%. With the positive sentiment around the crypto space, the Simple Moving Average (SMA) displays a bullish convergence in the 1D time frame.

TradingView: RUNE/USDT

The technical indicator, MACD, displays a constant decline in the red histogram, indicating an increase, in the buying pressure within the crypto space. Moreover, the averages show a high possibility of a bullish convergence, suggesting a positive outlook for the altcoin in the coming time.

If the bulls continue to gain momentum, the RUNE price will prepare to test its upper resistance level of $7.355 during the upcoming weeks. However, a bearish trend reversal may pull the price toward its crucial support level of $3.710 this month.

Conclusion:

With the compilation of the 4th Bitcoin Halving on 20th April, and the rising bullish sentiment in the cryptocurrency industry, the market is prepared to record a new all-time high (ATH) during the upcoming months.

Note: The volatility in the crypto industry is on the path of reaching a new high. Make sure to DYOR research before making investments, in any digital asset, as the market may record massive price action within a short period.

Shiba Inu’s phenomenal surge in 2021 was historic and is still referenced by analysts and investors today. Coming off the heels of the 2020 Bitcoin halving, the meme coin soared to new heights and it is yet to regain those heights. With another Bitcoin halving event in a few days, many are preparing for another massive Shiba Inu surge, hoping the halving will positively influence the meme coin.
Shiba Inu’s Launch and Rise to Prominence
While Bitcoin’s May 2020 halving event triggered a significant upswing in its price, Shiba Inu wasn’t even a player in the cryptocurrency market at that time. SHIB joined the market three months later, with a starting price containing nine decimal places before the actual number. Initially, SHIB witnessed minimal trading activity as Bitcoin embarked on its late-2020 surge.
January 31, 2021, marked a turning point for Shiba Inu. The coin experienced a significant surge in trading volume, reaching $5.7 million with a price of $0.00000001. Following this. SHIB maintained a trading volume in the thousands and occasionally millions of dollars.
Shiba Inu’s Stellar 2021
By April 2021, when Bitcoin reached $64,000 for the first time, SHIB had established its record price of $0.00000417. Interestingly, Shiba Inu managed to outpace Bitcoin in terms of percentage gains.
While Bitcoin reached a new all-time high of $68,789 in November 2021, SHIB had already hit its all-time high of $0.00008845 in October 2021. Notably, from January to October 2021, Shiba Inu witnessed a remarkable surge of 884,400%.
The Bitcoin Halving and Potential Impact on SHIB
The upcoming Bitcoin halving, estimated to happen this week, has ignited hope for a similar price revival in Shiba Inu. Enthusiasts point to historical precedents, specifically, the bullish trends that follow Bitcoin halving events. For instance, after the May 2020 halving, Bitcoin’s price embarked on a sustained upward trajectory, reaching a peak of $64,863 by April 2021.
If history were to repeat itself, and Bitcoin was to experience a similar 721% increase after the halving, it could climb from its current price of $63,237.93 to over $500,000. A Shiba Inu team member has revealed that Shiba Inu is on track for a super cycle. If the meme coin repeats its phenomenal 884,400% gain based on its current price of $0.00002261, it could reach $0.199.
⚠️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.
#ShibaInu #SHIB

The global cryptocurrency market experienced a volatile period earlier today as tensions escalated in the Middle East. Despite initial price drops, the market recovered quickly after it became apparent that the conflict resulted in minimal damage. 
Notably, Solana (SOL) showed a similar trend, experiencing a notable decline followed by a swift recovery.
At the press time, Solana price today was trading at $144.68, reflecting a nearly 9% increase over the past 24 hours, surpassing even the value before Israel’s retaliatory attack on Iran. 

SOL 1-day price chart. Source: Finbold
However, it is important to note that SOL price remains lower over longer time frames, with a 14.94% decrease over the past week and a 17.13% decrease over the last month.
Despite these short-term fluctuations, Solana has seen remarkable growth over the past year. The token’s value has surged by an impressive 639%, outperforming most of the top 100 cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH). 
Nevertheless, Solana’s network has faced challenges with outages and congestion, particularly during the first week of April. 
This congestion is largely attributed to the increasing number of users and their activity on the blockchain, especially with the rise of meme coins and decentralized exchange (DEX) transactions.
AI forecasts SOL price potential trajectory
Solana is currently trading between a support level at $123.41 and the resistance level at $157.96.
Machine learning algorithms, which rely on technical analysis (TA) indicators such as relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB),, and average true range (ATR), forecast a bullish short-term trend for SOL, however they anticipate a bearish outlook in the long term. 
According to the AI prediction model, SOL’s price of $144.68 as of April 19 will decrease by almost 9% to a price of $132.08 on May 1, so it will still be with its current support and resistance range.

SOL Prediction, May 1, 2024. Source: PricePredictions
Crypto expert shares insights on SOL price
Beside AI predictions, crypto expert Andrew Kang shared on X (formerly Twitter), on April 19, his belief that Solana presents a buying opportunity, with an anticipated price of $130 in the near future.
Kang predicts that the worldwide acceptance of crypto exchange-traded funds (ETFs), inspired by the US initiative, will initiate a subsequent surge in ETF investments, stating:
“We will have an onslaught of ETF approval headlines as the rest of the countries follow the lead of the US. The second wave of ETF inflows will kick in as wealth/asset management teams are cleared to solicit new customers for the ETF and rumors of mainland China access to BTC ETF start to bubble up.”
Moreover, Kang also acknowledged Solana’s current network problems that have impacted its price, but he expressed confidence that these issues will be resolved, creating opportunities for Solana’s recovery.

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Cardano outperforms Bitcoin by 200% over four years, showcasing significant market resilience.

ADA is recognized as 2024’s best layer one solution, highlighting its technological advancements.

Despite short-term underperformance, experts remain optimistic about ADA’s long-term growth prospects.

In a video analysis by crypto analyst Dan Gambardello, the crypto community gets an insightful update on Cardano (ADA) and its position in the cryptocurrency space. Despite a period of price stagnation, with ADA’s value hovering around 45 cents from December to the current pricing at $0.463275, Cardano showcases a foundation for potential growth. This scenario plays out in contrast to Bitcoin’s price surge during the same timeframe, stirring a mix of optimism and patience among ADA holders.

Over the past four years, Cardano has seen an 800% rise since the last Bitcoin halving, surpassing Bitcoin by 200%, according to Dan. This shows Cardano’s strength in the cryptocurrency market.

In 2024, Cardano was named the top layer one solution, indicating its technological progress and active community. The upcoming Valour project is expected to introduce a novel governance model, potentially transforming blockchain functionality.

CARDANO On EDGE! Urgent Move ADA Must Make For Comeback!Intro 00:00ADA holders frustrated 00:15Cardano price and Bitcoin 1:00Big Cardano win! 2:00Cardano is extremely unique 3:15Cardano price and charts 5:50Downside target 9:20ADA reversal clues to watch for 12:00 pic.twitter.com/j5ptEIqBMW

— Dan Gambardello (@cryptorecruitr) April 19, 2024

However, the technical analysis reveals a divergence from expected bullish patterns, particularly when juxtaposed with Bitcoin’s market movements. Despite ADA’s short-term underperformance, the long-term outlook remains promising. Dan suggests keeping an eye on key indicators, such as ADA’s position relative to moving averages and the momentum oscillator on the RSI, for signs of a market reversal.

Current market dynamics, influenced by geopolitical tensions, have instilled a sense of fear among investors, affecting ADA and the broader crypto market. Nevertheless, these dips are viewed not merely as setbacks but as opportunities for strategic investments. Looking forward, the anticipation builds for an “altcoin season” post-Bitcoin halving, with ADA expected to regain momentum and solidify its market position.

Despite the frustrations stemming from ADA’s recent price performance, Cardano’s underlying strengths—bolstered by technological advancements, community support, and strategic governance models—map out a bullish long-term scenario.

Dan advises on patience and a strategic investment approach, as well as a keen eye on market indicators and geopolitical developments. The journey ahead for ADA, as detailed in Garmabadello’s analysis, is filled with potential, urging investors to envision the broader horizon of growth and innovation in the cryptocurrency space.

The post Cardano’s 800% Rise Since Bitcoin Halving: Analyst’s Insights appeared first on Coin Edition.

As a consequence of regulatory pressure with the ongoing legal dispute between the Securities and Exchange Commission (SEC) and Ripple Labs, XRP was unable to capitalize on the 2024 cryptocurrency market rally, failing to achieve meaningful growth regardless of numerous breakout attempts. 
As of April 18, XRP price today hovers around $0.494, up by approximately 0.47% over the past 24 hours. 
However, this marginal gain is offset by the fact that the token has lost a considerable amount from of value from its market cap over the last seven days falling from above $33 billion to below $28 billion as its price decreased by 19.01% in the last week.

XRP 7-day price chart. Source: Finbold
This recent downturn has pushed the token’s market capitalization to $27.270 billion, at the time of publication.
Meanwhile, the cryptocurrency expert, known as CoinsKid, expressed a bearish view around XRP on April 17. 
The analyst argues that XRP’s recent price movement suggests a failed bullish breakout transitioning into a potential significant decline, further pointing to the absence of a new price peak during the attempted upswing and the presence of a new price bottom during the recent dip as evidence supporting a bearish outlook.

XRP bull trap and bear trap. Source: @Coins_Kid
Key XRP levels to watch
The current XRP trading situation represents a critical point, as the cryptocurrency confronts key support and resistance levels. The immediate support level is identified at $0.438, followed by a more optimistic resistance level at $0.550. 
According to predictions from artificial intelligence (AI) machine algorithm models, XRP is expected to see a bearish trend in the long term, suggesting a projected decrease of 12.55%, with a target price of $0.432 by May 1.

XRP prediction, May 1, 2024. Source: PricePredictions
In the short term, machine learning algorithms detect a bearish trend, indicating a potential slight increase in the next few hours.
The algorithms that deploy technical analysis (TA) indicators like relative strength index (RSI), moving average convergence divergence (MACD), Bollinger Bands (BB), average true range (ATR), and others.
Likewise, looking at the technical indicators spells out a bearish sentiment with an overall ‘sell’ rating. Moving average (MA), along with oscillators, point toward a ‘strong buy.’

XRP technicals based on last week. Source: TradingView
Based on any of the three time frames, moving averages rate XRP as a ‘strong sell’, while the oscillators are generally reading ‘sell’ though they do flip to ‘neutral’ when the analysis is based on the last 4 hours of trading.

On April 20, or when a Bitcoin miner mines block number 840,000, the amount of Bitcoin (BTC) entering into circulation will be reduced by half from about 900 a day to a mere 450.

Institutional investors’ strong demand for purchasing the new spot Bitcoin exchange-traded funds (ETFs) and BTC’s history of displaying a parabolic uptrend after supply-halving events are the reasons why investors highly anticipate this week’s event.

However, analysts from JPMorgan have suggested that the quadrennial halving is already priced in. As such, they expect the Bitcoin price to see a massive dump after the event instead of pumping.

Bitcoin Halving Rally Priced In

JPMorgan sees a Bitcoin downturn after the incoming halving as the event is likely priced in.

“We do not expect Bitcoin price increases post-halving as it has already been priced in. In fact, we see a downside for the Bitcoin price post-halving for several reasons,” JPMorgan strategists led by Nikolaos Panigirtzoglou wrote in an April 17 report.

Firstly, the bank’s analysis of open interest in Bitcoin futures indicates that the market is currently in overbought conditions. Moreover, Bitcoin’s current price of around $63,790 is still above JPMorgan’s volatility-adjusted price of $45,000 compared to gold and its projected production cost of $42,000 after the halving.

The analysts further noted that venture capital funding year-to-date, which remains muted despite the crypto market comeback, could also pull the BTC price down post-halving.

JPMorgan also expects the halving to impact Bitcoin miners as well as the Bitcoin mining hash rate:

“As unprofitable bitcoin miners exit the bitcoin network, we anticipate a significant drop in the hash rate and consolidation among bitcoin miners with a highest share for publicly-listed bitcoin miners.”

Some Bitcoin mining companies could consider diversifying into regions with lower energy costs, such as Latin America and Africa, after the halving.

Bitcoin Halving One Day Away 

The much-awaited BTC halving is almost here, and the crypto community is looking forward to the Bitcoin price reaction to it. After the looming fourth halving, miners will earn 3.125 BTC instead of the current 6.25 BTC for validating transactions and creating new blocks on the blockchain.

Halving events aim to maintain the scarcity of the premier cryptocurrency by gradually decreasing the rate at which new Bitcoins are injected into circulation. Ultimately, this process will result in a total of 21 million Bitcoins being mined, with no more coins being minted after the last halving event.

This halving is especially distinct from previous ones because of the substantial increase in capital coming into the market following the January spot ETF approvals. With the reduction of supply due to the halving itself and skyrocketing demand from the ETFs, basic economic principles suggest this should result in Bitcoin growing exponentially.

Whether Bitcoin sets a new all-time high after the halving or recoils lower remains to be seen.

At the Token2049 conference, blockchain experts debated the Ethereum chain’s current problems.

Experts from the blockchain industry discussed the latest innovations and development opportunities during a panel discussion at the Token2049 conference in Dubai.

The discussion participants also touched upon the Ethereum blockchain, which is considered the dominant smart contract platform. According to the panelists, Ethereum has scalability problems due to low transaction throughput, leading to high gas fees and network congestion. New blockchains are designed to become more scalable by increasing transaction speeds.

You might also like: Ethereum Layer 2 networks to hit $1 trillion in 6 years, VanECK predicts

Experts recognized developers’ interest in developing Ethereum due to its first-mover advantage and brand recognition. However, some argue that many layer 1 alternatives can better serve different use cases than Ethereum in its current form.

Raj Gokal, co-founder of Solana, noted that developers and most Ethereum users also have Solana wallets. In addition, he said the growth of transaction volume on Solana exceeded Ethereum indicators.

“We’re doing well, but Ethereum is not.”

Raj Gokal, Solana Co-Founder

Emin Gun Sirer, founder and CEO of Ava Labs, noted that the Avalanche blockchain was never positioned as an ‘Ethereum killer.’ Despite these concerns, Ethereum has several advantages, including creating blockchains according to the developers’ rules.

“We allow other people to launch their own blockchains according to their own rules. This is something that Ethereum is just fundamentally incapable of.”

Emin Gun Sirer, founder and CEO of Ava Labs

In conclusion, Monad’s Keone Hon noted that Ethereum ultimately needs much better performance to reach hundreds of millions of users.

Last November, Ethereum Co-Founder Vitalik Buterin announced his intention to redesign the network. Buterin outlined a general strategy that he will use to improve Ethereum (ETH) staking and solve performance problems arising about addresses. The last point has been a serious problem for the network in recent years.

You might also like: Glassnode: Restaking brings new yield opportunities for Ethereum community

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On April 18, 2024, it appears that Solana (SOL) is poised to break its bearish streak and experience upward momentum. There are several factors supporting Solana’s upcoming bullish move. These factors include the rise in Solana’s open interest, support at a crucial level, a bullish chart pattern, and continuous accumulation of SOL by crypto whales. Together, these factors highlight the bullishness of Solana’s SOL.

Open Interest surge in Solana

At the time of writing, Solana’s SOL open interest for the first time after several periods has become positive and surged by 4.5% in the last 4 hours and 2.5% in the last 24 hours, currently standing near $1.85 billion according to Coinglass. While the open interest data of other top cryptocurrencies like Bitcoin (-1.5%) and Ethereum (-2.86%) are still negative, indicating that investors are now preferring SOL over BTC and ETH.

Solana’s technical analysis and key levels

In addition to the above bullish factors, expert technical analysis suggests that Solana’s SOL on the daily timeframe is finding support from a bullish trendline. Historical data indicates that when SOL reached this trendline, it experienced massive upward momentum. For example, on January 23, 2024, when SOL found support at this trendline, it experienced a price surge of over 23%, and on February 24, 2024, it surged more than 90% after finding support again.

Source: TradingView

Looking at the historical data, there is a similar bullish expectation at the current time, suggesting that SOL’s price could surge by a massive 50%, the same move as it showed in the past, and reach $200 again. However, if Solana’s SOL on the daily timeframe closes below this strong bullish trendline, there is a high possibility that SOL could fall to the $102 level.

In addition to all these bullish factors, over the last 24 hours, a significant amount of over $3 billion worth of SOL has moved from wallets, indicating investor and institutional participation as the data shared by on-chain transaction tracker Whale Alert.

Currently, Solana’s SOL is trading near $133, and in the last 24 hours, it experienced a decent 1% upside momentum. Looking at SOL’s performance over a longer period, it experienced a massive 22% downside momentum in the last 7 days, and nearly 35% downside momentum in the last 30 days.

Solana, the world’s 5th biggest cryptocurrency, experienced a significant and continuous price fall of over 33% in April 2024. However, Solana’s SOL is not the only cryptocurrency that experienced a price fall in April; other top cryptocurrencies like Bitcoin, Ethereum, Cardano, and others also experienced similar declines.