Legendary trader Peter Brandt, a long-time XRP critic, has issued a bullish forecast for the cryptocurrency after observing a powerful symmetrical triangle breakout on its price chart. This surprising shift has generated significant buzz within the crypto community.
This week’s cryptocurrency market was a whirlwind of activity. XRP experienced a parabolic uptrend fueled by ETF applications and whale activity, while Shiba Inu burned 53 million coins. Fed Chair Powell compared Bitcoin to gold, and a US Congressman’s meme coin investment added to the excitement. NYC Mayor Adams also celebrated Bitcoin’s price rise.
XRP, the cryptocurrency associated with Ripple, has experienced a significant surge in price, fueled by increasing whale accumulation and growing optimism among traders. Veteran trader DonAlt sees XRP in a breakout phase and predicts a return of 2017-era traders to the market. Other analysts like Mikybull Crypto anticipate even greater gains for XRP, potentially reaching new all-time highs by 2025. This rally coincides with a surge in whale holdings, suggesting a strong underlying support for the token.
Ripple Labs CEO Brad Garlinghouse outlined a cryptocurrency-focused agenda for President-elect Donald Trump, proposing key changes at the SEC and seeking clarity on Ethereum’s status. Garlinghouse advocated for the removal of current SEC head Gary Gensler and suggested potential replacements, emphasizing the importance of promoting a pro-cryptocurrency environment.
Investment firm 21Shares has filed an application with the SEC to launch a spot XRP exchange-traded fund (ETF). This move comes amidst a surge in interest in crypto ETFs, with several firms vying for approval. The approval would provide U.S. investors with a regulated and convenient way to invest in XRP, despite the ongoing legal battle between Ripple and the SEC.
Bitcoin (BTC/USD) is nearing its all-time high, fueled by positive market conditions and institutional interest. Conversely, XRP (XRP/USD) faces uncertainty due to the SEC’s appeal against Ripple. Experts predict a bullish future for Bitcoin, while XRP’s trajectory hinges on the regulatory outcome.
Ripple co-founder Chris Larsen has made a significant financial contribution to Kamala Harris’ presidential campaign, donating nearly $10 million to support her run for the White House. This donation comes just weeks before the election and highlights the growing influence of cryptocurrency leaders in US politics.
Canary Capital has joined Bitwise Asset Management in seeking SEC approval for an XRP ETF, adding to the growing interest in the cryptocurrency. However, the SEC’s ongoing legal battle with Ripple Labs casts a shadow over the future of XRP ETFs in the U.S.
Cryptocurrency index fund manager Bitwise Asset Management has filed for an XRP ETF, potentially opening up a new avenue for investors to access the digital asset in the US market. The filing follows the SEC’s approval of several Bitcoin and Ethereum ETFs earlier this year.
The Supreme Court of India’s official YouTube channel was hacked on Friday morning, with videos promoting the cryptocurrency XRP appearing on the platform. The channel, which typically streams court proceedings, has been disabled as the Supreme Court’s Registry investigates the breach.
