Altcoin
XRP Hits New Low After $330M Liquidated By Holders, Community Finds Comfort in New Meme Defying Bearish Sentiment
The rollercoaster ride for Ripple’s XRP continues as the token hits a new low, following a massive $330 million liquidation by its holders. This major sell-off has sent shockwaves through the community, causing a sharp drop in XRP’s value as it teeters on a critical support level. However, amidst the bearish sentiment and panic selling, a new meme coin, Mpeppe (MPEPE), is emerging as a surprising beacon of hope for investors seeking to offset their losses.
Ripple’s Turmoil and the $330 Million Sell-Off
Ripple’s ongoing legal struggles with the U.S. Securities and Exchange Commission (SEC) have taken a toll on the cryptocurrency’s performance in 2024. Despite recent progress in the case, uncertainty still lingers, causing large holders to liquidate their XRP positions. This has led to a cascading effect on the market, with the token hitting new lows and facing significant resistance at key price points, except this new meme casino coin Mpeppe after rallying 150%. The $330 million liquidation represents a significant portion of XRP’s trading volume, and it’s a clear sign that some investors are losing faith in Ripple’s ability to recover in the short term.
XRP has been flirting with the 50-cent support level, and if it breaks below, analysts fear it could plunge further. As the bears tighten their grip on XRP, many holders are feeling uneasy, unsure if the worst is yet to come.
Mpeppe: A Meme Casino Coin Defying the Bear Market
While XRP struggles to regain its footing, the meme coin market is witnessing an exciting new contender—Mpeppe (MPEPE). Defying the overall bearish sentiment that has gripped much of the crypto space, Mpeppe is proving to be a bright spot for investors. Currently in Stage 4 of its presale, Mpeppe (MPEPE) has already raised nearly $2 million, with 66% of the tokens sold. Its presale success is a testament to the strong community support it has garnered, as well as its appeal as a meme coin that promises high returns.
Unlike XRP, which is weighed down by regulatory challenges, Mpeppe has been able to ride the wave of meme coin hype, similar to Dogecoin and Shiba Inu. Meme coins have historically performed well during market downturns, offering investors an opportunity for short-term gains even in the face of broader market declines. As more XRP holders liquidate their positions, many are redirecting their funds into Mpeppe (MPEPE), which they see as a potential 100x opportunity in the coming months.
Why Mpeppe Is Attracting Gobal Attention
Mpeppe’s rapid presale progress is one of the key reasons it has been able to capture the attention of the crypto community. With each presale stage, the token price increases, providing early investors with the potential for significant returns once it officially launches. The meme coin has managed to tap into the viral nature of internet culture, leveraging its meme status to create a dedicated and engaged community.
Another reason Mpeppe is attracting attention is its accessibility. Unlike more complex blockchain projects like XRP, which require a deep understanding of technology and regulatory landscapes, Mpeppe appeals to a broader audience of casual investors. Its simplicity and meme-driven marketing make it an attractive alternative for those looking for high-risk, high-reward opportunities.
Shift from XRP to Meme Sensation Mpeppe
The transition of funds from established cryptocurrencies like XRP to newer meme coins like Mpeppe (MPEPE) reflects a broader trend in the market. Investors, particularly retail traders, are increasingly seeking out opportunities with higher upside potential, even if they come with greater risk. Meme coins, with their ability to capture the imagination of the internet and generate viral hype, offer the possibility of quick gains, which is especially appealing in times of market uncertainty.
For XRP holders, the decision to liquidate and invest in Mpeppe (MPEPE) represents a shift in strategy. Instead of waiting for Ripple’s legal issues to resolve and for XRP to regain its former highs, many are opting for a more speculative play that could deliver outsized returns in a shorter time frame. With Mpeppe’s presale rapidly progressing and its community growing, it’s not surprising that XRP holders are finding comfort in this meme coin.
Mpeppe Emerges as a New Favorite Meme Coin
As XRP continues to struggle, weighed down by legal battles and a massive liquidation event, Mpeppe (MPEPE) is emerging as a favorite among investors looking to capitalize on meme coin hype. With its presale in full swing and strong community support, Mpeppe offers a promising alternative for those looking to escape the bearish sentiment surrounding XRP. Whether Mpeppe can sustain its momentum and deliver on its potential remains to be seen, but for now, it’s providing much-needed hope to a market in turmoil.
For more information on the Mpeppe (MPEPPE) Presale:
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Altcoin
XRP Price At Risk As Ripple Moves $250M?
The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win.
The XRP Price At Risk With Ripple’s $250 Million Transfer
The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk).
The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case.
This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors.
However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory.
A Price Surge Above $20 By Year-End
In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory.
Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively impacted XRP all this time, creating doubts in investors’ minds.
However, with Gensler gone and the Ripple SEC lawsuit likely to end, investors could again become bullish on XRP and look to invest more in the crypto. Crypto analyst Ross Vandermeer also predicted that the XRP price could eventually rise to $1,000 thanks to Donald Trump’s US election victory.
Ripple CEO Brad Garlinghouse recently called on the US president-elect to fire Gary Gensler on day 1, just like he promised. Meanwhile, Ripple chief legal officer (CLO) Stuart Alderoty urged Trump to end the regulation-by-enforcement approach to position the US as the crypto capital.
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.
Altcoin
Ripple CLO Reveals How Donald Trump Can Make US The Crypto Capital
Ripple chief legal officer (CLO) Stuart Alderoty has revealed how US President-elect Donald Trump can make the United States (US) the crypto capital. The Ripple CLO statement came as Ripple CEO Brad Garlinghouse outlined his checklist for the Trump administration.
Ripple CLO Reveals How Trump Can Make US Crypto Capital
In an X post, Stuart Alderoty called on Donald Trump to move swiftly to end the regulation-by-enforcement approach that the crypto industry has endured and position the US as the crypto capital of the world.
As the Ripple CLO suggested, the US has been unable to claim the title of crypto capital due to its unfavorable regulatory environment. Regulators like the US Securities and Exchange Commission (SEC) have clamped down on crypto firms instead of providing regulatory clarity.
However, the Ripple CLO believes that is likely to change under Donald Trump. In his post, he also revealed that the president-elect had taken time to listen to Ripple’s story when they met and has also prioritized crypto as a key policy issue.
Indeed, the US president-elect was very vocal about crypto during his presidential campaign, making several promises to the crypto industry. As part of his promises regarding Bitcoin and the crypto industry, Donald Trump said he would fire US SEC Chair Gary Gensler on day one in office.
This is one of the major promises the crypto community is holding on to, considering that Gensler has spearheaded the anti-crypto crusade in the country.
Brad Garlinghouse Outlines Checklist For Donald Trump’s Administration
Before the Ripple CLO’s comments, Ripple CEO Brad Garlinghouse had outlined his checklist for the Trump administration’s first 100 days in office. First, he stated that Trump should fire Gensler on Day 1, just as promised.
In Gensler’s place, Garlinghouse recommended that the president-elect appoint either Christopher Giancarlo or Robinhood CLO Dan Gallagher, as they will be “massive upgrades” in rebuilding the rule of law at the SEC. Galaxy CEO Mike Novogratz also recently mentioned pro-crypto US SEC commissioner Hester Peirce as one of those who could also replace Gensler.
The Ripple CEO also asked Trump to get the US Congress to move the digital asset market structure bill forward in the Senate. Lastly, he asked if they could get some clarity for Ethereum, similar to that of Bitcoin and XRP since they are recognized as non-securities.
While Brad Garlinghouse didn’t endorse any candidate, Ripple CLO Stuart Alderoty and Ripple co-founder Chris Larsen made their stance known through donations. The Ripple CLO donated $300,000 to the Donald Trump campaign, while Larsen donated up to $11 million to Kamala Harris’ campaign.
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.
Altcoin
Shiba Inu Burn Rate Rockets 3,700% Sparking Optimism, SHIB To Hit $2?
Amid a remarkably bullish market on Tuesday, the SHIB meme cryptocurrency once again nabbed substantial investor attention by displaying a whopping surge in its burn rate. Recent stats indicate that the Shiba Inu burn rate witnessed a remarkable 3674% uptick, projecting bullish market sentiments on the coin’s future price movements. SHIB price currently trades at the $0.000019 level, with traders and investors eyeing a potential $2 price target in light of recent broader events and a burn rate surge.
Shiba Inu Burn Rate Shoots 3,700% Reverberating Investor Bullishness
As per the latest data from the official tracker Shibburn, the Shiba Inu burn rate witnessed a 3674% upsurge on November 6, underscoring a massive blow to the Ethereum-based meme coin’s supply. According to the data, 53.31 million coins were burnt in the past 24 hours, causing a phenomenal surge in the burn rate. Intriguingly, the wallet address 0x2e2.. was noted to be responsible for the lion’s share in today’s massive burn surge. Per the data, this address burned 28.84 million tokens over the past day.
For context, the token burn mechanism aids in killing the meme coin’s excessive supply, which market watchers believe to be the true reason behind SHIB’s sluggish performance. The phenomenal blow to the supply, as mentioned above, ignited a torrent of optimism among Shiba Inu market participants, adhering to the law of supply and demand.
Meanwhile, recent community developments have further taken the broader market by storm. The coin’s lead developer, Shytoshi Kusama, earlier revealed a S.H.I.B proposal for the U.S. government aiming to turn the country into a crypto valley. The outlined proposal, with a budget plan of $1.3 to $2.35 billion, aims to promote blockchain developments nationwide, with the dog-themed meme coin primarily in focus. Overall, the burn surge, coupled with this recent advancement, has garnered significant optimism on the coin’s future price movements.
SHIB Price Blows Up 6%
At the time of reporting, SHIB price surged nearly 7% intraday and is now trading at $0.00001908. The token’s 24-hour low and peak were $0.00001758 and $0.00001972, respectively. Notably, even the crypto’s intraday trading volume upsurged nearly 200% to $1.16 billion.
Further, Coinglass data underscored a market uptrend for the meme coin today. SHIB futures OI surged nearly 25% to $51.14 million. Moreover, the derivatives volume rocketed roughly 137% to $384 million. Overall, these stats, coupled with the Shiba Inu burn rate surge mentioned above, have paved a bullish path for the coin’s future price movements.
In addition, Donald Trump’s recent victory has fueled a pro-crypto sentiment across the broader cryptocurrency market. In light of this event, a Shiba Inu price analysis showcases that the token could hit $2 amid boosted market sentiment.
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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