Polkadot 2.0, the latest upgrade to the Polkadot network, will launch in Q1 2025. An early testnet version of the blockchain is already available on the Kusama network. 

The launch period was confirmed earlier today by Parity Technologies, the developers behind Polkadot. 

Polkadot 2.0 Will Introduce Much-Needed Scalability to the Blockchain 

Polkadot 2.0 represents a significant upgrade of the Polkadot network, introducing technical advancements to enhance scalability, flexibility, and accessibility for developers. 

According to Parity Technologies, the upgrade will have three key features – Async Backing, Agile Coretime, and Elastic Scaling.

The first two features have been successfully implemented in the network. The team is currently working on Elastic Scaling ahead of its Q1 2025 launch. 

“Last part of Polkadot 2.0 is Elastic Scaling. Projects will be able to add multiple Cores for one task, shorten block production time or add on-demand Cores if they have throughput problems,” Polkadot executive Emil Kietzman wrote on X (formerly Twitter).

These features will reduce the block time from 12 seconds to 6 seconds, increasing transaction throughput. DApps and other projects on Polkadot 2.0 will be able to access network resources on-demand, moving away from the traditional parachain slot auction model.

Most importantly, Elastic Scaling will allow the network to scale dynamically as needed. These enhancements on Polkadot 2.0 could potentially lower developers’ entry barriers. 

DOT has seen a significant rally in November, surging over 100%. The network’s high staking returns have attracted new users in 2024. According to an earlier CoinGecko report, Polkadot is among the top three blockchains that provide the highest staking yields. 

Furthermore, the network’s interoperability has received wider praise from developer communities. Another report earlier this year named Polkadot as one of the leading blockchains in development and community engagement. 

Despite these recognitions, the network has suffered extensively in the past few years due to the lack of scalability. As a result, the number of core developers on the network has gradually decreased. 

Polkadot 2.0 can potentially change this and introduce much-needed scalability and accessibility to the blockchain. A successful launch can bring more DApps to the ecosystem and drive DOT’s market prospects. 

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Ripple (XRP) price has surged over 230% in the past 30 days, reaching its highest levels since 2018. The strong uptrend, supported by bullish indicators like RSI and CMF, suggests the potential for further gains.

If momentum continues, XRP could rise to $1.90 and even test $2, marking a 16% increase from current levels. However, if the trend weakens, XRP risks a correction to support levels at $1.21 or $1.05, representing a potential 39% decline.

XRP RSI Is Overbought, but the Uptrend Could Continue

Ripple RSI currently stands at 74.8, reflecting strong bullish momentum following its recent surge. The RSI, or Relative Strength Index, measures the speed and magnitude of price changes on a scale of 0 to 100. Values above 70 indicate overbought conditions and the potential for a correction, while values below 30 suggest oversold conditions and potential recovery.

Being above 70 places XRP in the overbought zone, signaling heightened buying activity and possible caution for traders.

However, historical trends show that XRP’s RSI has previously climbed beyond 70, often reaching levels as high as 80 or even 90 before corrections occur.

This indicates that despite being in the overbought territory, Ripple price could still push higher in the short term. If the current momentum continues, XRP may extend its rally further before any significant pullback occurs, making it crucial to monitor the RSI’s trajectory closely.

Ripple CMF Is Now Positive, but Not That High Yet

XRP CMF is currently at 0.08, reflecting a notable shift from nearly -0.10 just a day ago. The CMF, or Chaikin Money Flow, measures the flow of capital into or out of an asset based on price and volume over time.

Positive CMF values indicate net capital inflows and buying pressure, while negative values suggest outflows and selling dominance. The move into positive territory highlights growing confidence among buyers and supports the recent price momentum.

While a CMF of 0.08 is positive, it remains significantly below levels seen earlier in November, such as 0.30 and 0.20 during major bullish periods. This suggests that while buying pressure has returned, it is not yet as strong as during previous surges.

If CMF continues to rise, it could signal further growth for XRP price, with room for the uptrend to gain additional strength in the coming days.

Ripple Price Prediction: Can It Reach $2?

Ripple price is trading at its highest level since 2018, following an impressive 231.39% gain over the past 30 days. EMA Lines show XRP is currently in an uptrend. If that continues, XRP could reach $1.90, an 11% increase, and even test $2, marking a 16% rise.

However, if the uptrend weakens, XRP price could face a correction, with key support levels at $1.21 and $1.05. A drop to these levels would represent a potential 39% decline, highlighting the importance of maintaining bullish momentum to avoid a significant pullback.

The post Ripple (XRP) Price Can Reach $2 If This Happens appeared first on BeInCrypto.

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UBC, launched four days ago, has gained over 18,000 holders but saw its market cap drop by 45% in the last day, settling at $34 million. Similarly, $1, launched five days ago, experienced a sharper decline of 65%, with its market cap falling to $8.7 million despite attracting nearly 60,000 holders.

JAK, themed around animated video coins, drew over 24,000 holders in under three days but suffered an 80% correction, reducing its market cap to $3.4 million. All three tokens currently have neutral RSI levels, suggesting room for potential recovery if buying sentiment returns.

Universal Basic Compute (UBC)

Universal Basic Compute (UBC), launched just four days ago, has quickly gained attention. With over 37,000 daily transactions and more than 18,000 holders, it is one of the most successful newly launched coins this week, especially in the Solana ecosystem.

However, its market cap has dropped 45% in the past 24 hours, falling from $48 million to $34 million, reflecting significant selling pressure after its initial surge.

UBC’s RSI currently stands at 45, signaling neutral momentum. This indicates that while the token is not overbought or oversold, it may be consolidating after the recent correction.

If UBC regains bullish momentum, it could retest its $50 million market cap, representing a potential 47% price increase from current levels.

just buy $1 worth of this coin ($1)

The $1 coin, launched on Solana five days ago, has quickly gained attention, attracting nearly 60,000 holders and recording 81,000 transactions in the past 24 hours.

Despite this activity, the coin has faced significant selling pressure, with its market cap dropping sharply by 65% in the last day, falling from nearly $15 million to $8.7 million.

With an RSI of 43, $1 is currently in a neutral zone, neither overbought nor oversold. This suggests the token could be stabilizing after the steep correction.

If buying pressure returns, $1 could reclaim the $10 million market cap and potentially retest its previous high of $15 million, signaling a strong recovery from recent losses.

Jak (JAK)

The JAK token has gained traction by leveraging the popularity of animated video-themed meme coins. It has attracted over 24,000 holders in under three days.

Despite its fast rise, JAK has seen a sharp correction, with its market cap dropping over 80% from $6.2 million to $3.4 million.

JAK is still seeing strong activity, with more than 90,000 daily transactions reflecting continued market interest. Its RSI currently sits at 53, signaling neutral momentum.

This level suggests that while selling pressure has eased after the steep decline, the coin is neither overbought nor oversold. That leaves room for a potential recovery if buying sentiment increases.

The post 3 Newly Launched Cryptos to Watch In December 2024 appeared first on BeInCrypto.

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