Connect with us

Market

Crypto Analyst Predicts XRP Price Could Touch $15 Easily If This Happens

Published

on



Este artículo también está disponible en español.

A well-known crypto analyst, Crypto Beast, has made a bold prediction about XRP future price trajectory, suggesting that it could reach $15 with ease under specific conditions. This interesting outlook comes amidst a consolidation of prices, which is now looking to regain momentum above $3.

Banks Adopting XRP Could Send It To $15

Bitcoin was created to disrupt the traditional financial industry and compete with the existing global financial system. While many other early cryptocurrencies like Ethereum and Litecoin also built upon this premise, XRP took another approach. Its creators developed it as a solution for fast and efficient cross-border transactions, aiming to complement the existing financial infrastructure rather than replace it.

Related Reading

Despite its intended role in improving financial transactions, XRP has faced years of price struggles, with long periods of decline over multiple years overshadowing its utility. This lackluster growth led many traders to lose faith, with some dismissing it as a dying asset. Interestingly, despite regulatory challenges and market downturns, the asset remained one of the top-ranking cryptocurrencies by market capitalization throughout this period. 

However, recent price rallies have breathed life into XRP. Particularly, this rally has seen the value of XRP grow massively since November 2024 and is now the third largest crypto in terms of market cap. This has seen sentiment around the altcoin shifting into a more optimistic direction, with some crypto analysts who doubted before now revealing bullish price targets for its price.

One of these analysts is Crypto Beast, who recently shared a $15 price prediction for XRP. Speaking to his over 560,000 followers on social media platform X, Crypto Beast stated that XRP’s price could surge to $15 if banks worldwide fully integrate the token into their systems.

Is $15 A Pipe Dream Or A Realistic Target

There is a valid question of whether XRP can realistically trade at $15 given its tokenomics. As of now, XRP has a total supply of 99.9 billion tokens, with 57.7 billion coins currently in circulation. Its market capitalization stands at $177.6 billion, while its fully diluted valuation is around $307.8 billion. If XRP were to reach $15, its market cap would need to grow to approximately $865.5 billion, assuming no significant increase in circulating supply. This would also push its fully diluted valuation close to $1.5 trillion.

Related Reading

Such a surge would place XRP ahead of Ethereum in market cap rankings and within striking distance of Bitcoin. On the surface, this might seem like a challenging milestone, but it could become feasible if the asset gains widespread adoption in cross-border payments and replaces current methods like SWIFT. Consequently, the token’s demand will increase significantly, driving sustained price growth.

According to Changelly, the XRP price can reach the $15 target sometime around 2033. At the time of writing, the altcoin is trading at $3.08.

XRP
XRP trading at $3 on the 1D chart | Source: XRPUSDT on Tradingview.com

Featured image from Adobe Stock, chart from Tradingview.com



Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Market

What to Expect on May 7

Published

on


The highly anticipated Pectra upgrade will launch on the Ethereum (ETH) mainnet on May 7, 2025, after overcoming a series of technical challenges and delays in the testnet phase. 

Ethereum developers announced the date during the All Core Developers Consensus (ACDC) meeting on April 3, 2025.

Pectra Upgrade Countdown Begins

The upgrade was initially slated for a tentative mainnet launch on April 30. However, Ethereum developers have postponed the launch by one week.

“We’ll go ahead and lock in May 7 for Pectra on mainnet,” Ethereum Foundation researcher Alex Stokes said.

In preparation for this, Stokes confirmed that client releases will be made available by April 21, ensuring that all users have the necessary updates and tools ahead of the mainnet launch. On April 23, a detailed blog post outlining the Pectra mainnet will be published.

Ethereum Developers Consensus Layer Meeting 154

The Pectra upgrade will introduce 11 Ethereum Improvement Proposals (EIPs) to enhance various aspects of the network. Notably, three EIPs are dedicated to improving the validator experience. 

The first is EIP-7251. This will increase the staking limit for validators from 32 ETH to 2,048 ETH per validator. This change aims to enhance capital efficiency for large stakers and staking pools.

“This simplifies the staking experience, allowing users to manage multiple validators under one node instead of several,” an analyst remarked.

Moreover, EIP-7002 introduces execution-layer triggerable withdrawals, giving validators more control. Meanwhile, EIP-6110 reduces the deposit processing delay from about 9 hours to just 13 minutes.

The upgrade will also include EIP-7702, a major step toward account abstraction. It allows Externally Owned Accounts (EOAs) to gain smart contract functionality while maintaining simplicity. This enables features like transaction batching, gas sponsorship (where third parties pay fees), passkey-based authentication, spending controls, and asset recovery mechanisms.

Finally, the upgrade increases blob capacity through EIP-7691. In addition, EIP-7623 helps manage the increased bandwidth requirements. These updates aim to make Ethereum more scalable, efficient, and user-friendly.

It is worth noting that the road to the mainnet launch has not been without hurdles. Two previous tests on the Holesky and Sepolia test networks failed to finalize properly. However, Pectra achieved full finalization on the Hoodi testnet on March 26, marking a significant milestone toward the successful deployment of the upgrade.

Despite the technical progress, ETH continues to face market challenges

Ethereum Price Performance
Ethereum Price Performance. Source: BeInCrypto

Data from BeInCrypto shows that ETH dropped 4.8% over the past week, with weekly losses extending to 17.1%. At the time of writing, the altcoin was trading at $1,822, reflecting a small daily gain of 0.8%.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

XRP Futures and Illinois Lawsuit Relief

Published

on


Coinbase filed with the US Commodity Futures Trading Commission (CFTC) to launch futures contracts for Ripple’s XRP token.

The move comes after a positive development for the crypto derivatives market in the US, reflecting shifting regulatory ties in the country.

Coinbase Files for XRP Futures Trading With CFTC

Coinbase Derivatives has submitted a filing to self-certify XRP futures. It will provide a regulated, capital-efficient means for market participants to gain exposure to XRP. The new contract could go live as soon as April 21.

“We’re excited to announce that Coinbase Derivatives has filed with the CFTC to self-certify XRP futures – bringing a regulated, capital-efficient way to gain exposure to one of the most liquid digital assets. We anticipate the contract going live on April 21, 2025,” read the announcement.

Meanwhile, the official filing indicates that the XRP futures contract will be a monthly cash-settled and margined contract trading under the symbol XRL.

Each contract represents 10,000 XRP and will be settled in US dollars. Trading will be available for the current month and two subsequent months. As a protective measure, trading will be temporarily halted if the spot XRP price moves more than 10% within an hour.

XRP Price Performance
XRP Price Performance. Source: BeInCrypto

The Coinbase Exchange also confirmed that it has engaged with Futures Commission Merchants (FCMs) and other market participants. Both references reportedly expressed support for the launch.

However, Coinbase is not the first US-based exchange to introduce regulated XRP futures. In March, Chicago-based Bitnomial launched what it advertised as the country’s first CFTC-regulated XRP futures contract.

For Coinbase, however, the boldness comes after the CFTC eased key regulatory hurdles for crypto derivatives trading. As BeInCrypto reported, this signaled a more accommodating stance towards the sector.

“Pursuant to Commodity Futures Trading Commission (“CFTC” or “Commission”) Regulation 40.2(a), Coinbase Derivatives, LLC (the “Exchange” or “COIN”) hereby submits for self-certification its initial listing of the XRP Futures contract to be offered for trading on the Exchange…,” an excerpt in the filing indicated.

This suggests that the commodities regulator’s shift, revoking previous crypto-related guidelines, may boost institutional confidence. For XRP, this development bolsters confidence in the asset’s previously contentious status following Ripple’s recent regulatory breakthrough.

“Coinbase Derivatives’ filing with the CFTC to self-certify XRP futures aims to legitimize XRP trading by offering a regulated, capital-efficient product for investors,” one user remarked.

The futures contract might also help the odds of XRP ETF approval. Recently, the SEC delayed several applications to create one, and its status is in limbo.

XRP ETF approval odds
XRP ETF approval odds. Source: Polymarket

Data on Polymarket shows bettors see a 74% chance for XRP ETF approval in 2025 and a more modest 34% by July 31.

Elsewhere, the timing of this filing aligns with recent favorable regulatory developments for Coinbase. Reports suggest Illinois intends to drop its lawsuit against the exchange over its staking services.

Up to 10 states filed a lawsuit against Coinbase in June 2023 alleging that its staking program constituted unregistered securities offerings.

This recent development makes Illinois the fourth state to withdraw legal action against Coinbase. Vermont, South Carolina, and Kentucky also dismissed their cases on March 13, 27, and 31, respectively.

However, the cases remain active in Alabama, California, Maryland, New Jersey, Washington and Wisconsin.

These legal retreats coincide with the US SEC’s (Securities and Exchange Commission) February decision to abandon its federal lawsuit against Coinbase. BeInCrypto reported that this development marked a broader shift in the regulatory approach under the current administration.

“Regulators are losing steam, and Coinbase is stacking quiet courtroom wins. Staking’s future in the US might just be back on track,” a user commented.

Illinois’ decision to drop its lawsuit comes as the state advances a Bitcoin strategic reserve bill. Specifically, Illinois State Representative John M. Cabello introduced House Bill 1844 (HB1844), highlighting Bitcoin’s potential as a decentralized, finite digital asset.

“A strategic bitcoin reserve aligns with Illinois’ commitment to fostering innovation in digital assets and providing Illinoisans with enhanced financial security,” the bill read.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



Source link

Continue Reading

Market

Dogecoin (DOGE) Bleeds Further—Fresh Weekly Lows Test Investor Patience

Published

on


Dogecoin started a fresh decline from the $0.180 zone against the US Dollar. DOGE is consolidating and might struggle to recover above $0.1680.

  • DOGE price started a fresh decline below the $0.1750 and $0.170 levels.
  • The price is trading below the $0.1680 level and the 100-hourly simple moving average.
  • There was a break below a key bullish trend line forming with support at $0.170 on the hourly chart of the DOGE/USD pair (data source from Kraken).
  • The price could extend losses if it breaks the $0.1550 support zone.

Dogecoin Price Dips Again

Dogecoin price started a fresh decline after it failed to clear $0.180, like Bitcoin and Ethereum. DOGE dipped below the $0.1750 and $0.1720 support levels.

There was a break below a key bullish trend line forming with support at $0.170 on the hourly chart of the DOGE/USD pair. The bears were able to push the price below the $0.1620 support level. It even traded close to the $0.1550 support.

A low was formed at $0.1555 and the price is now consolidating losses. There was a minor move above the 23.6% Fib retracement level of the downward move from the $0.180 swing high to the $0.1555 low.

Dogecoin price is now trading below the $0.170 level and the 100-hourly simple moving average. Immediate resistance on the upside is near the $0.1650 level. The first major resistance for the bulls could be near the $0.1680 level. It is near the 50% Fib retracement level of the downward move from the $0.180 swing high to the $0.1555 low.

Dogecoin Price

The next major resistance is near the $0.1740 level. A close above the $0.1740 resistance might send the price toward the $0.180 resistance. Any more gains might send the price toward the $0.1880 level. The next major stop for the bulls might be $0.1950.

Another Decline In DOGE?

If DOGE’s price fails to climb above the $0.170 level, it could start another decline. Initial support on the downside is near the $0.160 level. The next major support is near the $0.1550 level.

The main support sits at $0.150. If there is a downside break below the $0.150 support, the price could decline further. In the stated case, the price might decline toward the $0.1320 level or even $0.120 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now losing momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for DOGE/USD is now above the 50 level.

Major Support Levels – $0.1600 and $0.1550.

Major Resistance Levels – $0.1680 and $0.1740.



Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io