TL;DR
- XRP has consolidated around $0.58-$0.60. Analysts predict either a new all-time high or a significant price correction.
- Shiba Inu hit a milestone with over 7 million processed blocks on Shibarium, sparking optimism for further price growth, as the coin reached a one-month high.
- Bitcoin’s uptrend has slowed at around $63,500, with analysts predicting either a breakthrough past $65,000 or potential losses for investors if resistance holds.
Epic XRP Rally or a Severe Correction?
Ripple’s XRP has recently consolidated around the $0.58-$0.59 range, briefly surpassing $0.60 on September 21. The current price represents a 9% increase on a two-week scale. Two main factors contributing to the rally during that period were Grayscale’s launch of a dedicated Ripple Trust and the US Fed’s decision to decrease the interest rates by 0.5%.
According to multiple market observers, XRP is yet to experience a real bull run. The X user JackTheRippler recently assumed that the token’s valuation could hit a new all-time high next month based on potential positive elements such as the official resolution of the Ripple v. SEC lawsuit.
“October 2024 could be a life-changing month for XRP holders,” the analyst claimed.
EGRAG CRYPTO was even more optimistic, arguing that the asset’s price chart has formed an interesting pattern resembling the logo of the footwear and apparel corporation Nike. Following that trend could lead to a peak of $5.50 in the next years. Moreover, if XRP breaks it to the upside, it may explode to a whopping $13 per coin.
Such a price explosion would require its market cap to skyrocket above $670 billion, making the prediction quite improbable.
On the other hand, X user JACKIS envisioned a “wild breakdown” for XRP, warning investors to prepare properly for that possible event.
“The trendline is super weak & the distribution is too long,” the popular trader maintained.
Shiba Inu’s Latest Milestone
The second-largest meme coin made the headlines on September 25 due to the progress of its layer-2 blockchain solution – Shibarium. As CryptoPotato reported, the processed blocks on the network exceeded 7 million.
Shibarium was officially launched in August 2023. It is built to lower transaction costs on the SHIB network, support decentralized application projects within the ecosystem, and improve scalability. For more updates on the ecosystem, check out our Shibarium news.
Some industry participants believe that further advancement of the protocol could be a bullish factor for Shiba Inu’s price. Meanwhile, the meme coin has been among the top-performing cryptocurrencies in the past few days, reaching a one-month high of approximately $0.0000157 (per CoinGecko’s data).
Is BTC Ready to Reach New Dimensions?
Despite being on an uptrend in the last two weeks, the primary cryptocurrency has stalled its progress as of late, currently trading at around $63,500.
However, crypto X is full of analysts who believe the asset’s next step will be huge. The popular user Elja thinks BTC’s “parabolic phase has started,“ forecasting massive gains in the following months.
$BTC parabolic phase has started
Uptober
Moonvember
Pumpcember
BulluaryAll are coming #Bitcoin pic.twitter.com/Xc1nj1d4En
— Elja (@Eljaboom) September 25, 2024
TrendSpider chipped in, too, envisioning good days ahead for Bitcoin if it surpasses the major resistance level of $65,000. Otherwise, investors may “suffer the consequences,“ they added.
