Altcoin
Here’s How High XRP Price Could Rise After Crossing $1
Crypto analyst Egrag Crypto has provided insights into how high the XRP price could rise following its rally above $1. XRP’s rally above $1 marked a two-year high for the crypto, which had before now remained stagnant even while the broader crypto market enjoyed significant gains.
XRP Price To Rally To $4 After Breakout Above $1
In an X post, Egrag Crypto predicted that the XRP price could rally to as high as $4.96 following the breakout above $1. This came as he analyzed XRP’s market cap and explained why it could reach $1.83 trillion. He noted that the market cap is closing above Fib 0.07 ($51.35 billion) and has reached Fib 0.786 ($60.06 billion).
The analyst also revealed that XRP is breaking through a multi-year ascending trendline that goes back to 2017. He remarked that this is super bullish for the crypto. Egrag Crypto said that a monthly candle close above the Fib 0.786 would lead to a confirmed market cap of $283.42 billion (Fib 1.618), which would be next for the XRP price. A market cap of $283.42 billion would put XRP at $4.96.
In the short term, Egrag Crypto said that the goal for this week is for XRP to close the partial weekly candle above $1.10. His accompanying chart showed that a close above this candle could further confirm the rally to $4.96 and even higher.
Amid this price prediction, it is worth mentioning that XRP whales are actively accumulating the coin, which presents a bullish outlook since these whales could also contribute to a sustained price rally. These XRP whales have bought over 320 million XRP in the last 72 hours.
Meanwhile, in an X post, crypto analyst Javon Mark predicted that another $190% rally to XRP’s current all-time high (ATH) was loading. He indicated that the crypto would break well above $3.3 once it reaches its current ATH.
A Repeat Of The 2017 Bull Run
Crypto analyst Charting Guy suggested that the XRP price could replicate its 2017 bull run. In an X post, the analyst stated that the XRP monthly Bollinger bands are finally expanding and giving the 2017 vibes. In 2017, the crypto rallied by over 61,000%, eventually hitting its current ATH the following year.
Crypto analyst Mikybull Crypto also suggested that the XRP price could replicate its 20217 bull run. He stated that his technical analysis instinct was telling him that XRP would pull a hated rally like 2017. His accompanying chart shows that XRP could rally above $5 when this hated rally occurs.
Ripple CEO Brad Garlinghouse recently cited the imminent pro-crypto policies under Donald Trump as one of the reasons for XRP’s recent rally. The crypto is up over 100% in the last seven days amid rumors that the US SEC Chair could resign soon enough, a development which further presents a bullish outlook for XRP.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
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.
VTHO price has skyrocketed 300% after Binance announced its support for VeThor Token. Simultaneously, the token’s trading volume also surged by an astonishing 86,000%, reaching $3 billion. This massive rally reflects the strong influence of the top crypto exchanges in the market and how the listing or any other positive developments impact the sentiments.
Notably, VTHO token is used as gas within the VeChainThor ecosystem, further driving the market’s enthusiasm.
VTHO Price Surge After Binance Announces Listing of Perpetual Contract
On January 22, Binance listing announcement showed that the exchange plans to list VTHOUSDT perpetual contract on its futures platform, offering a maximum leverage of 75x. This new trading option has caught the attention of traders, contributing to a massive spike in VTHO’s trading volume.
Meanwhile, VTHO is the secondary token in the VeChainThor ecosystem, primarily used as the gas for transactions within the network. This listing expands Binance’s support for the VeChainThor blockchain, enabling users to trade VTHO with increased leverage. The contract’s capped funding rate is set at +2.00% / -2.00%, with funding fees settled every four hours, giving traders more flexibility.
Notably, the 75x leverage allows traders to maximize their exposure to VTHO price movements, further intensifying the market’s focus on the VeThor Token. The move by the top crypto exchange to offer such high leverage and favorable funding rates is a clear indication of its confidence in VTHO’s potential.
Binance’s Multi-Assets Mode and Trading Rules
Binance’s Multi-Assets Mode allows users to trade the VeThor token perpetual contract across multiple margin assets. This feature enables traders to use other cryptocurrencies, such as BTC, as collateral when trading VTHO contracts.
Multi-Assets Mode supports greater flexibility, giving users the ability to diversify their margin options for more efficient trading strategies. Recently, Binance expanded support for TRUMP and several other tokens, fueling optimism about future price movements.
The rules for Multi-Assets Mode include applicable haircuts on collateral, ensuring the safety of user assets. It is particularly useful for those who hold large amounts of various cryptocurrencies and wish to leverage them for high-leverage trading opportunities.
VeChain and VTHO Price Surge
VeChain (VET), the blockchain powering VTHO, has experienced notable growth, rising by 11% in the past 24 hours. VET price now trades at $0.05, and its market cap has reached $4.06 billion. This rise is attributed to VeChain’s increasing adoption and its partnerships with major corporations, including Walmart China and BMW.
VTHO price today jumped 320% and exchanged hands at $0.0087, indicating a growing interest in the VeChainThor ecosystem. With a market cap of $744 million, VTHO has seen an 86,000% increase in trading volume, reaching $3.11 billion. As the blockchain industry continues to innovate, VeChain’s supply chain solutions and VTHO’s integral role are poised for continued success.
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.
In what comes as a bullish market event, the Shiba Inu burn rate skyrocketed 600% on Wednesday, sparking immense optimism among traders amid a broader sector recovery. Recent burn data indicated that over 3 million tokens were taken out of the meme coin’s circulating supply. As an upshot, crypto enthusiasts expect a massive SHIB breakout ahead, driven by supply reduction and the community’s recent advancements.
Shiba Inu Burn Rate Blows Over 600% Echoing Bullish Market Sentiments
According to the latest data by Shibburn, the Shiba Inu burn rate shot up nearly 613% on January 22, dealing a massive blow to the circulating supply. Per the data, the massive burn rate surge came against the backdrop of 3.24 million tokens sent to a null address, thus permanently removing them from the supply.
For context, the SHIB burn mechanism is designed to reduce the crypto’s market supply, which many believe to be the reason behind the dog-themed meme coin’s broader sluggish performance. Thereby, with the abovementioned burn rate surge weighing in, traders and investors anticipate price gains for the crypto asset in light of the law of supply and demand.
Community Developments Add To Market Optimism
Further, a stockpile of ecosystem developments in recent days appears to have additionally bolstered the market sentiment for Shiba Inu amid its burn rate surge. CoinGape reported that SHIB lead developer Shytoshi Kusama stated a “big week” lies ahead for the meme token. This statement has sparked market-wide speculations of a looming advancement for the coin’s community.
Moreover, with American billionaire and investor Mark Cuban lauding SHIB’s potential recently, market watchers are extensively eyeing the crypto with bullish long-term views. Particularly in light of the community’s long-term goals and support, Cuban finds the meme coin to be one of the few promising projects in the sector. Overall, the Shiba Inu burn rate surge and these developments have solidified investors’ sentiments of a looming breakout, further driven by the recent pro-crypto Donald Trump frenzy.
What’s Next For SHIB?
At the time of reporting, SHIB price witnessed a 4% uptick in value, reaching $0.00002054. The coin’s 24-hour low and high were $0.00001983 and $0.00002127, respectively.
Notably, the coin rises alongside the intraday Shiba Inu burn rate surge and positive market sentiments building against the backdrop of Trump’s win and meme coin sector recovery. After a waning action yesterday, DOGE, PEPE, and TRUMP, among other meme coins, witnessed a remarkable upswing.
In light of this recovery-like trend, crypto enthusiast ‘VipRoseTr’ revealed on X that a $0.00004029 price target is ahead for the asset. Also, a recent Shiba Inu price analysis by CoinGape further cements the chances of a breakout approaching, as the coin showcases the potential to gain 100x this year.
This bullish prediction comes riding the back of strong market technicals and price patterns, flagging that a potential run to $0.00003340, followed by the March 4 high of $0.0000455, is possible. However, the $0.00001565 support remains extensively eyed by market watchers, given the crypto realm’s dynamic nature.
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.
Donald Trump’s DeFi project World Liberty Financial is on a Tron buying spree after loading up on Ethereum earlier this week. In the last few hours, the project spent a total of $2.65 million USDT stablecoin to load up its TRX holdings. As a result, the TRX price is seeing a strong 5.76% surge amid fresh buying interest for the altcoin.
World Liberty Financial Accumulates Tron (TRX)
World Liberty Financial, the Donald Trump-owned DeFi project, has been aggressively expanding its crypto holdings with fresh Tron purchases. Data from Arkham Intelligence shows that the project has recently spent 2.65M USDT to acquire 10.81M TRX.
Following the current acquisition, the DeFi project holds a total of 30.11M $TRX, valued at $7.38M. The latest purchase by the DeFi project comes following massive Ethereum purchases earlier this week.
Additionally, on-chain data shows that World Liberty swapped 5,252 ETH, worth 17.43M, for stETH, and later staked it with Lido Finance. Over the past three days, the fund has invested a total of $168.4M in six tokens.
This includes $99.95M in Ethereum, $47M of WBTC, $7.35M in Tron (TRX), and another $4.7M each in AAVE, ENA, and LINK. Interestingly, World Liberty Financial has increased its positions in every token except ONDO, reported Spot on Chain.
Justin Sun Celebrates the Development
Tron founder Justin Sun celebrated this development while making big investment promises moving ahead. In his message on the X platform, Sun noted:
“Bought again! TRON has now become the 3rd largest asset held by World Liberty Financial, the president’s crypto project, with a current holding of $7.3 million TRX”.
Furthermore, Sun made big investment promises while commenting on Eric Trump’s post. Earlier today, Eric Trump noted that there’s no better time to invest in the United States and invest across sectors like technology, innovation, and crypto. Responding to this Sun said:
“Fully agreed! We have an outstanding plan that will bring over $200 billion worth of business to the United States. This will be massive and meaningful!”
Tron founder Justin Sun is himself one of the early investors in World Liberty Financial. Earlier this week, he expanded his investments into the DeFi project by acquiring WLFI tokens and taking total investments to $75 million.
TRX Price to Rally 100% From Here?
As of press time, the Tron price is trading 5.7% up at $0.251. As per the Coinglass data, the Tron futures open interest is up 14% to $258 million hinting bullish sentiment among traders.
The TRX price has been trading within a broad descending channel for the past several weeks, following a sharp rally to $0.45 in December. This price action has resulted in several swing highs and lows, indicating a battle between buyers and sellers.
On the RSI, there is a hint of a potential bullish divergence. A falling wedge pattern is emerging, suggesting a possible upside breakout. Additionally, Fibonacci retracement levels point to a potential move toward $0.30 at the 0.50 RSI level and $0.33 at the 0.382 RSI level. In his recent analysis, crypto analyst AMCrypto stated that the TRX price could reach as high as $0.50 by the end of Q1.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
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.
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