Altcoin
Charles Hoskinson Accuses US Fed Of Corruption
Charles Hoskinson, the founder of Cardano (ADA), has openly accused the US Federal Reserve of “corruption.” This statement came in response the US Red’s latest move wherein it continued discriminating against banking institutions. Furthermore, the matter became serious when Custodia Bank CEO Caitlin Long stepped into the scene.
Hoskinson Accuses US Federal Reserve
Moreover, Hoskinson urged voters to “vote crypto” in the 2024 elections. In a post on X, he wrote, “Remember in 2024 to vote crypto, or else you get more of this corruption.” Hoskinson’s outcry came in response to a fiery post by Long, who has been vocal about the Federal Reserve’s allegedly discriminatory practices.
Furthermore, Long’s criticism centered on what she perceives as preferential treatment given by the Federal Reserve to certain banks with connections to former Fed officials. Long wrote, “I AM SPEECHLESS. Is this what it appears to be—special treatment by the Fed for another former insider, just weeks after the Fed’s Inspector General ‘suspended’ its investigation into the Fed’s master account practices?” This controversy was fueled further by recent revelations from Fox journalist Eleanor Terrett.
Terrett disclosed that Connecticut-based fintech bank Numisma, formerly known as Currency Reserve, has received conditional approval for access to a Federal Reserve master account. This is notable because Numisma, like Custodia Bank, is a non-FDIC-insured, non-federally regulated bank. However, Numisma’s approval comes despite the Fed’s previous stance that such banks are “inherently unsafe and unsound.”
Additionally, Terrett highlighted a crucial detail that has added fuel to the allegations. The journalist added, “Both banks that received approval have been associated with former Fed officials. One of Numisma’s founders is former Fed Vice Chairman Randy Quarles. The other bank, Reserve Trust, received a master account in 2018 and also happened to have former Fed Vice Chair Sarah Bloom Raskin on its board.” However, the Kansas City Fed later revoked Reserve Trust’s master account in 2022.
Also Read: Ripple SEC Lawsuit: SEC Defies Sealing Details, “Ripple Will Largely Lose the Motion”
XRP Lawyer John Deaton Joins The Fray
In addition, Long pointed out the apparent double standard. The Custodia Bank CEO stated, “The Fed’s Custodia denial order went into excruciating detail about why these issues are not curable, but suddenly a bank with the same regulatory structure got a pass by the Fed—and an ex-Fed governor is involved?”
Furthermore, John Deaton, a prominent pro-XRP lawyer, has joined the growing chorus of voices accusing the US Federal Reserve of corruption. Following recent allegations by Cardano founder Charles Hoskinson and Custodia Bank CEO Caitlin Long, Deaton took to social media to express his concerns about the integrity of federal regulatory agencies.
Deaton didn’t mince words, stating, “As I’ve said multiple times, we are living through a period of time history books will later describe as: ‘THE CORRUPTION ERA.’ The Federal Reserve is no different than any of the other compromised federal agencies.” Moreover, he emphasized the issue of the “revolving door” between regulatory bodies and the industries they oversee, which he believes fuels corruption.
In addition, he proposed specific legislative measures to combat this problem if he wins the US Senate race. The XRP Lawyer wrote, “I will write a bill preventing a person from leaving their job as a U.S. regulator to go immediately work within the industry they were just in charge of regulating. A 5-year statutory ban sounds about right.”
Deaton illustrated the problem with a vivid example: “A person should not be able to leave the FDA and then immediately go work for Pfizer. One day you’re the Chairman of the SEC, and the following week you’re on the Board of several companies you were just in charge of regulating. It fuels corruption.”
Also Read: Spot Ethereum ETF: When Is Launch Timeline If SEC Gives Approval?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The Dogecoin price has entered another stage of bullish momentum that has reignited inflows from traders. Notably, the DOGE price has surged by about 16.3% over the past 24 hours. This surge has brought into focus the possibility of the DOGE price reaching a new all-time high this year.
Interestingly, a crypto analyst on the social media platform X has highlighted a bullish fractal that could push the Dogecoin price on a parabolic run.
Dogecoin Fractal Points To New ATH
Master Kenobi shared his analysis of the Dogecoin price action on X. In his post, Kenobi outlined a fractal setup, suggesting that DOGE is on the verge of a significant breakout. Kenobi attributed the fractal formation to the consolidation that began after the DOGE price reached $0.43
A bullish fractal is a pattern that suggests an upward reversal in price. This pattern, which occurs during price consolidations, is characterized by a middle bar that has the lowest low, flanked by higher lows on each side.
Kenobi’s analysis was accompanied by a DOGE chart on the four-hour candlestick timeframe. The chart revealed that a similar fractal had occurred during the first week of November. At that time, Dogecoin was consolidating after an initial surge past the $0.20 mark. This consolidation phase, much like the current one, was marked by low volatility and steady accumulation. However, the November fractal ultimately resolved with an explosive 115% rally over six days.
Drawing parallels with the November setup, Kenobi predicted that the Dogecoin price could replicate this outcome and create a new all-time high in the next three days. In terms of a price target, a breakout would see the DOGE price reaching the $0.74 mark, which would put it above its current all-time high of $0.7316.
What’s Next For The Dogecoin Price?
The prospect of a new all-time high for the Dogecoin price is gaining ground with each passing day, especially with the price action in the past 24 hours. At the time of the analysis, the DOGE price was trading at $0.41. Interestingly, the Dogecoin price has surged to $0.46 at the time of writing, which indicates that the bullish fractal breakout has happened.
DOGE, which started November at $0.1616, is already up by about 230% in the past 30 days. Many on-chain data and price patterns point to a continued price increase, at least in the next few days and weeks. Ali Martinez, a popular crypto analyst, suggested that the Dogecoin price is in the middle of a bullish breakout to $0.82. If the price target is achieved, this would represent a further 78% gain from the current price.
Featured image created with Dall.E, chart from Tradingview.com
The crypto universe has concluded yet another week, primarily with riveting developments unfolding across the broader sector. Bitcoin (BTC) continues to pump, hitting a new ATH this week. Simultaneously, Ripple’s XRP garnered significant market attention, recording considerable gains. The broader market continues to leverage investor optimism post-U.S. elections that saw Donald Trump reelected as the president.
Here’s a brief collection of some of the top cryptocurrency market headlines that have significantly impacted investor sentiment over the past seven days.
BTC Hits New ATH Amid Bull Crypto Market
BTC price hit a new ATH near the $100K level this week, echoing a buzz across the broader sector. Notably, the flagship coin gained roughly 10% over the past week to hit an ATH of $99,655. Attributable to this bullish movement post-U.S. elections, Rich Dad Poor Dad author Robert Kiyosaki shared a bold prediction for the coin, anticipating its price to hit $13 million.
Simultaneously, the crypto also saw heightened institutional interest amid its bullish movement, underscoring the potential for further gains. Aligning with this heightened market interest, biopharmaceutical firm Hoth Therapeutics forged ahead with BTC buying plans, sparking additional optimism surrounding the crypto.
Meanwhile, Bitcoin miner MARA completed its $1 billion private offering this week, with some of the proceeds set to be used to buy more BTC. Overall, the flagship coin leveraged significant buying pressure this week, paving a bullish path for future movements.
Ripple’s XRP Steals Attention
On the other hand, XRP’s price witnessed gains worth 40% over the past week, cementing investor optimism amid a bullish digital asset sector. Notably, XRP whales accumulated nearly $526M worth of the token this week, indicating that the Ripple-backed coin could pump higher. Veteran trader Peter Brandt predicted amid this bullish movement that a parabolic rally for the crypto also lies ahead.
Further, Ripple CEO Brad Garlinghouse conveyed bullish sentiments on XRP and a possible end to the SEC lawsuit, primarily attributable to the newly appointed U.S. Treasury Secretary Scott Bessent. Simultaneously, the Ripple vs. SEC lawsuit saw the regulator and FINRA trying to bring “digital asset securities” claims. This mover comes against the backdrop of XRP’s rally to $1, with speculations of a looming $2 target on SEC Chair Garu Gensler’s exit.
Overall, these market updates have sparked significant investor enthusiasm over the crypto realm’s future action, with market watchers being optimistic.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Crypto analyst Behdark has predicted that the XRP price can reach $28. This prediction follows his Elliot Wave theory analysis, which also showed when the crypto will reach this double-digit price target.
When XRP Price Will Reach Double Digits
In a TradingView post, Behdark’s Elliot Wave theory analysis showed that the XRP price can reach double digits by 2026. The analyst’s accompanying chart showed that the first double digits target for XRP will be $15, after which the crypto could eventually rally to $28. Behdark also provided more insights into XRP’s current price action and why this rally could happen.
First, the analyst mentioned that the XRP price looks to be currently within a running triangle. In line with this, Behdark remarked that wave D might complete its movement by hunting the all-time high (ATH) at $3.84. He mentioned that there could be a price correction for wave E afterward.
Once that XRP price correction happens, Behdrak predicts the next move will be the post-pattern movement targeting a level above $15. This is where the price target of $28 comes into the picture, as the analyst’s accompanying chart shows it is a feasible target for the crypto, although it might not happen in this market cycle.
An XRP price rally to $28 would mean that the crypto would have a market cap of $2.8 trillion. However, Behdrak suggested that this was still feasible. He noted that his focus was on chart analysis and not fundamentals, even though fundamentals are reflected in the chart itself.
Meanwhile, the analyst told market participants that if a clear and identifiable pattern emerges when the XRP price reaches wave E of the triangle, they could position themselves for the main move to double digits.
A Confirmation Of This Double Digit Target
Crypto analyst Dark Defender also recently shared an Elliot Wave theory analysis, which showed that the XRP price could indeed reach double digits. Specifically, the analyst’s accompanying chart showed that XRP could rally as high as $18 when the wave 5 impulsive move occurs.
Interestingly, unlike Behdark’s chart, which showed that the rally to double digits would happen in 2026, Dark Defender’s chart showed that the rally to $18 could happen as early as mid-2025. Meanwhile, the analyst said that the XRP price is currently in the third wave, with the crypto expected to rally to $5 when this next impulsive move occurs.
Afterward, the XRP price is expected to witness a corrective move that will cause it to drop to as low as $4. The next impulsive move after this could send XRP to the $18 target.
At the time of writing, the XRP price is trading at around $1.55, up over 10% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com
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