Here's what to expect amid accelerated approval for Crypto Index ETF under the new SEC.
The post Ripple News: Founder Sees ‘Fundamental Flaws’ in XRP, Predicts ‘More Downside’ appeared first on Coinpedia Fintech News Anthony Georgiades, founder and general partner at Innovating Capital, discussed concerns surrounding Ripple and its native token, XRP, particularly regarding the centralized aspects of the XRP Ledger. In an interview with Yahoo Finance, he explained that XRP operates on a decentralized ledger, but in practice, Ripple Labs holds major control over it. Ripple Labs is responsible for selecting a list of validators who process transactions, and most users rely on Ripple’s default node list. Georgiades pointed out that this centralization weakens XRP’s position as a truly decentralized asset, and he believes it could be vulnerable to regulatory overreach. Governments could exert control over transactions by targeting specific institutions or geographical regions, which could fragment the network. This could lead to a breakdown of trust, network forks, and a loss of value, ultimately questioning the token’s purpose and competitiveness in comparison to centralized systems. “I see the downside less in terms of impacting Bitcoin in particular and more pertaining to other altcoins, specifically Ripple. There’s a lot of positive sentiment in the market for Ripple right now and a lot of excitement around Ripple is because of a potential strategic Reserve. But I see a lot of fundamental flaws in XRP in particular, and honestly view a strategic Reserve backed by Ripple as being the demise of the network itself for a number of reasons,” he said. (SIC) In addition, Georgiades shared his view on Bitcoin’s recent market movements. He believes the market has already priced in several positive catalysts, such as potential regulatory changes and the possibility of Bitcoin becoming a reserve asset. However, he said that it will take years for any fundamental changes to fully impact the market.
XRP price remains volatile, holding above $3 as the crypto market trades sideways. As Ripple (XRP) consolidates, analysts note similarities between the current price action and the 2017 rally. As a result, experts are forecasting a 2,900% surge if history repeats. How high will XRP reach if this outlook comes to pass? XRP Price Breaking Out Like 2017; Next Major Move a 2,900% Surge? XRP price has broken out of a formation that mirrors its 2017 pattern but on a much larger scale. Analysts highlight that this breakout is more than twice the size of the previous cycle, raising expectations for a significant price surge. In 2017, XRP’s breakout reached two key price targets. The recent movement suggests a similar trajectory, with the first target already met. The next anticipated milestone stands at $99, which would represent a staggering 2,900% gain from current levels. Analysts note that historical price structures often repeat in crypto markets. If the Ripple price follows the same trajectory as in 2017, the top altcoin could grow exponentially. Tweet While technicals indicate a breakout, fractals and history suggest a 2,900% surge. How likely is this? From a fundamental outlook, the odds of an ETF approval are spiking, suggesting a major overhaul and adoption awaits XRP, making it likely for an absurd and exponential rally. Polymarket Predicts 83% Chance of XRP ETF Approval by June 2025 Polymarket data indicates an 83% likelihood that a Ripple exchange-traded fund (ETF) could receive approval by 2025. This marks a significant rise in market confidence, reflecting growing optimism surrounding cryptocurrency ETFs. The probability has climbed by 13% recently, signaling increased speculation among investors. XRP’s potential ETF approval could follow Bitcoin’s path, drawing institutional interest and enhancing mainstream adoption. This could fuel the XRP price surge ahead. Will XRP ETF Launch in 2025? According to Polymarket data, the odds of an XRP exchange-traded fund (ETF) receiving regulatory approval in 2025 have risen sharply to 82%. This increase signals growing investor confidence and reflects a notable shift in sentiment within the cryptocurrency space. The surge in approval probability highlights the anticipation surrounding potential regulatory developments that could pave the way for XRP’s entry into mainstream financial markets through an ETF. X XRP Price Analysis & Key Levels to Watch The price of XRP today is at $3.06, showing a slight decline of 1% in the last 4-hour session on Binance. The cryptocurrency is currently testing the $3.00 support level, a key psychological zone that has held strong in recent trading sessions. Most of the cryptocurrencies today are trading in a sideways trend, with BTC hovering around $103k. The Relative Strength Index (RSI) stands at 48, indicating a neutral stance. A break above $3.50 could pave the way for a move toward the $3.84 level, which aligns with previous highs. However, failure to maintain above $3.00 may lead to further downside pressure, potentially bringing Ripple price prediction closer to lower support levels. XRP price chart: TradingView XRP price movement resembles its 2017 surge, fueling speculation of a massive rally. If history repeats, a 2,900% gain could be on the horizon, but market conditions remain key. The post XRP Price Mirrors 2017 Run; Could This Lead to a 2,900% Surge? appeared first on CoinGape .
Cryptocurrency exchange Upbit has announced the listing of Virtuals Protocol (VIRTUAL) on the KRW, BTC, and USDT markets. Upbit Lists Virtuals Protocol (VIRTUAL) on KRW, BTC and USDT Markets Transaction Calendar Deposit and Withdrawal Start: Within 2 hours from the announcement. Transaction Start: January 31, 2025, 20:00 Transaction Restrictions To ensure a stable trading environment, certain restrictions will be applied: Buy Orders: Restricted for the first 5 minutes after trading starts. Minimum Sale Price: Will be announced 1 hour before transaction support begins. Order Type Restrictions: Only limit orders can be used during the first hour of trading. Deposit Instructions Deposits from unsupported exchanges will not be credited. Only verified personal wallets can be used for deposits and withdrawals. Proof of source may be required for large deposits for regulatory compliance reasons. About Virtuals Protocol (VIRTUAL) Virtuals Protocol is a blockchain project designed to create a common ownership layer for AI agents in the gaming and entertainment industry. Through tokenization, users can co-own AI agents they believe have potential, similar to owning shares in a company. The platform allows anyone to create AI agents and participate in governance. VIRTUAL tokens serve multiple roles in the ecosystem, including liquidity matching, AI agent token purchases, payments, and governance participation. *This is not investment advice. Continue Reading: Bitcoin Exchange Upbit Released a New Listing Announcement! Here is the Latest Listed Altcoin!
Bitcoin price is down No data found for bitcoin on 17 minutes ago% today and trades at No data found for bitcoin on 17 minutes ago. This pullback has undone 50% of the gains noted after the FOMC meeting and will likely continue this descent as month-end volatility kicks in. With the long-term outlook still bullish and historical data signaling more gains in February, will BTC reach new highs at $123K? Let’s explore. Will Bitcoin Price Hit $123K? Since mid-November 2024, Bitcoin price has been moving sideways. Although BTC has attempted to leave this range multiple times, it has lacked strength. As a result, multiple new highs have been created in the past 78 days of the ongoing consolidation. The most recent ATH of $110K was set up on January 20. Between November 14 and 22, 2024, Bitcoin shot up nearly 14% to $99,660. Using Fibonacci tool to this trend shows the next ATH was formed at 161.8% Fib level. Considering a similar outlook, the next ATH could form around $123K. BTC/USDT 4-hour chart 4 Conditions Could That Can Propel BTC to $123K To achieve a new all-time high at $123K or beyond here are four changes or developments that need to occur. Bitcoin price needs to overcome the $105.5K resistance level . This level is where BTC faced rejection, pausing the post-FOMC rally. The second condition that hints BTC could reach a new ATH is the divergence between retail and institutional investors. Data from Santiment shows that wallets holding 0 to 10 BTC, belonging to retail investors have been dropping. On the other hand, wallets holding 100 to 1000 BTC have been accumulating. Typically, retail investors react much more to short-term noise and tend to capitulate before the price reaches new highs. Whale accumulation hints that the uptrend is not over and a new ATH is possible. Retail vs. Whale Wallets Whale transaction activity, ie., tranfers worth $100K, have dropped since January 24. As noted in the image a spike in this metric often helps drive prices higher. On the contrary, a drop suggests that whales are not interested and is likely going to lead to a period of consolidation or drop. Once this indicator sees a reversal, Bitcoin price has a high probability to reach ATHs . Whale Transaction Count From a historical standpoint, the average monthly return for January is around 4%. But February’s average return hovers around 15.66% . Hence, the chances of a new ATH in February , potentially at $123K are high . Monthly Returns Out of the above four conditions, two are met, Bitcoin needs to overcome $105K hurdle and whale transctions greater than $100K needs to pause its freefall and spike again. Once all four conditions are met Bitcoin price could set up a new all-time high at $123K. Key Levels to Watch as BTC Price Drops With the end of January, investors can expect the volatility to remain high . Since Thursday’s $106,450 high, Bitcoin price has shed 2.04%. Investors can expect this short-term downtrend to continue around the New York open. In such a case, here are some key demand levels to watch: $101.5K, $100K, $98.2K and $96.8K. $101.5K is the confluence of the 78-day range’s upper limit and the current week’s VWAP. Beyond this, the 2025 VWAP at $100K and the 78-day consolidation’s VWAP at $98.2K are the next key support levels. The last and the most important support level is the highest volume traded level in the past 78 days at $96.8K. These key support levels are good places to accumulate Bitcoin (BTC) at a discount. A bounce at these levels could lead to an ATH. Here is a key resistance level to watch: $105K . Overcoming this level will allow Bitcoin price to revisit the current ATH of $110K and set up a new one at $123K. The post Bitcoin Price Will Hit $123K if These 4 Conditions Are Met appeared first on CoinGape .
Cryptocurrency in everyday life will soon become inevitable. Many online retailers and companies now accept digital currencies as payment, making them a flexible gift option. If you’re thinking about giving cryptocurrency as a gift, there are a few things you should keep in mind. You’ll need to choose the right coin, figure out how to store it securely, and understand any tax implications. Read on as we’ll break down the process of giving crypto as a gift. Choosing the Right Cryptocurrency There are so many cryptocurrencies available today. Some are new and untested, while others are well-established and widely used. When selecting a cryptocurrency as a gift, it’s best to choose a trusted and stable option. Popular Cryptocurrencies for Gifting: Cryptocurrency Symbol Reason to Gift Bitcoin BTC Most recognized and widely accepted Ethereum ETH Supports smart contracts and decentralized apps Solana SOL Known for fast transactions and low fees USD Coin USDC A stablecoin tied to the US dollar It’s always best to first research the coin before you purchase it. Keep in mind the recipient’s interests and how they might use the gift. Ways to Gift Cryptocurrency There are several ways to give cryptocurrency. Every method has its pros and cons. 1. Gift Cards Many websites sell cryptocurrency gift cards. The recipient can redeem the card on the same platform where it was purchased. This is a beginner-friendly option. 2. Sending Crypto from an Exchange Buy the cryptocurrency on an exchange like Coinbase, Binance, or Kraken. Transfer it directly to the recipient’s wallet address. This method is fast and simple but requires the recipient to have a wallet. 3. Paper Wallets A paper wallet is a printed document containing private and public keys. It is created using an online generator. This is a low-cost way to store crypto offline, but it can be lost or damaged easily. 4. Hardware Wallets A hardware wallet is a physical device that stores crypto securely. It is the safest option, as it is offline and protected from hacks. Some well-known brands include Ledger and Trezor. 5. Physical Coins Some companies sell metal or plastic coins with embedded crypto keys. These coins often have holographic seals to protect the private key. They are a novelty but should not be relied on for long-term storage. Storing the Gifted Cryptocurrency Once you’ve purchased the cryptocurrency, you need to store it securely. Leaving it on an exchange is risky because online accounts can be hacked. Storage Method Pros Cons Exchange Wallet Easy to access and use Vulnerable to hacking Paper Wallet Offline storage, free to create Can be lost or damaged Hardware Wallet Highly secure, offline Costs money to purchase The greatest option for long-term storage is a hardware wallet. Give guidelines on how to secure cryptocurrency if you’re giving it to someone who is unfamiliar with the field. Are Crypto Gifts Taxed? Giving cryptocurrency as a gift is typically not taxable. However, when the recipient sells the cryptocurrency, taxes can be due. Key Tax Rules: The recipient may be required to pay short-term capital gains taxes if he sells the bitcoin within a year. He pays long-term capital gains tax, which is significantly less, if the sale is made after a year. Taxes are to be paid by considering the value at which originally purchased. Even in the event that the gifted bitcoin loses value and is sold at a loss, the recipient can still qualify for an exemption. A unique way to introduce someone to the world of cryptocurrencies is to give them a gift of digital assets that have the potential to appreciate in value and make a very progressive gift. This will help the recipient through some things they need to know in storing, using, and protecting their gift. If they have never been into cryptocurrencies, providing instructions or guiding them through will make it easy. Gifting cryptocurrency can be a fun and valuable present for any occasion; all one needs is to go about it correctly.
Recent struggles of Hedera’s HBAR have left investors cautious, as the altcoin’s price dipped to $0.30 following a failed attempt to break resistance at $0.40. Following this, the declining correlation
Ethereum whales’ recent decision to accumulate heavily amid a recent price dip has reinforced bullish market sentiments surrounding the second-largest cryptocurrency by market cap. On Friday, crypto analyst Ali Martinez revealed that the large investors, also known as whales, bought 100,000 ETH amid the token’s recent price volatility. In the aftermath, market watchers anticipate price gains ahead despite unchanged interest rates this FOMC and looming U.S. PCE inflation data release. Ethereum Whales On Buying Spree Ignite Optimism According to an X post by Ali Martinez on January 31, Ethereum whales purchased over 100,000 coins during the recent price dip. The massive purchase reflects a potential ‘buy-the-dip’ sentiment prevailing among large-scale investors. In turn, long-term prospects for the crypto’s price remain bullish in the wake of heightened buying pressure and rising interest in the asset. Source: Ali Charts, X Also, it’s worth mentioning that the Trump family project has bought $250 million worth of ETH recently. Ethereum co-founder and ConsenSys founder Joseph Lubin revealed on X that the massive purchase comes as the project looks to set up a DeFi business. Although these events project bullishness on future price actions, it’s worth mentioning that the coin currently encounters significant volatility amid current broader market trends. Market Uncertain Amid Latest U.S. Economic Data The crypto market currently mirrors a muted investor interest right ahead of the PCE inflation data release scheduled for later today. CoinGape reported that Bitcoin and Altcoins faced volatility on Friday, with another macro event impacting investor sentiments. Notably, the latest U.S. FOMC meeting has decided to keep interest rates unchanged at 4.25% to 4.50%. This data raised concerns over risk assets such as crypto, as investors may want to mitigate losses by investing more in U.S. dollar-backed assets. Nevertheless, large-scale investors appear to be digesting the latest decision by the Fed whilst hoping the PCE inflation data cools down. This market anticipation is highly reflected by the massive accumulation by Ethereum whales. What Lies Ahead For ETH Price? At the time of reporting, ETH price witnessed a nearly 2% increase in value and is currently trading at $3,246. The coin’s 24-hour low and high were $3,182.14 and $3,282.99, respectively. It’s worth mentioning that the most critical resistance level for the coin lies at the $4,000 mark, a key barrier over the years. Source: Ali Charts, X However, the massive buying by ETH whales has paved a bullish way surrounding long-term price prospects. Additionally, market expert Michaël van de Poppe posted on X, “ETH vs. BTC can still print a bullish divergence.” This statement indicated that while the price is declining, the broader momentum is improving, indicating that a potential reversal looms. Source: CryptoMichNL, X Also, the analyst added, “I think that the dynamic and pendulum between the DXY (US Dollar Index) and ETH is going to change towards Ethereum rather than the Dollar.” Despite the recent risks presented to crypto in light of macroeconomic events, this statement projects optimism about the crypto’s future price action. The post Ethereum Whales Bag 100,000 ETH Amid Recent Dip, What’s Next? appeared first on CoinGape .
Tether has announced the integration of its flagship stablecoin, USDT, onto Bitcoin via the Lightning Network. The news was revealed on January 30 during the Bitcoin-focused Plan B conference in El Salvador, featuring key speakers Tether CEO Paolo Ardoino and Lightning Labs CEO Elizabeth Stark. The integration utilizes the Taproot Assets protocol, introduced in 2022, to extend Bitcoin’s capabilities for supporting tokenized assets. Elizabeth Stark expressed enthusiasm for the development, stating, “Millions of people will now be able to use the most open, secure blockchain to send dollars globally.” Lightning Labs highlighted that this upgrade will benefit merchants already accepting Bitcoin payments through Lightning, enabling seamless USDT transactions using the same infrastructure. Broader Stablecoin Adoption Tether’s expansion onto the Lightning Network is a strategic move to broaden its stablecoin payment ecosystem. Stark emphasized that users in emerging markets could greatly benefit from this integration, as stablecoins often provide a hedge against currency devaluation. According to CoinGecko, Tether is the world’s largest stablecoin , commanding a market cap of $139.4 billion — nearly three times that of its closest competitor, Circle’s USDC. In 2024, Tether processed $10 trillion in transactions, inching closer to Visa’s $16 trillion transaction volume. Lightning Labs believes this development could power a future “wave” of AI-driven transactions and autonomous vehicle payments. Business development director Ryan Gentry also stressed the potential for innovation, particularly in enabling micropayments through USDT on Lightning. Tether El Salvador Move and Bitcoin Ecosystem The announcement comes shortly after Tether’s relocation to El Salvador, the only country where Bitcoin is legal tender. El Salvador initially mandated merchants to accept Bitcoin payments through the government-backed Chivo Wallet in 2021, though the initiative faced challenges. Recently, as part of a $1.4 billion agreement with the IMF , the country made Bitcoin payments voluntary for merchants. With this integration, Tether positions itself as a driving force in stablecoin adoption across Bitcoin’s ecosystem, pushing boundaries in both traditional payment networks and emerging technologies like AI. The post Tether Brings USDT to Bitcoin Lightning Network, Expanding Payment Options appeared first on TheCoinrise.com .
With institutional involvement and shifting market dynamics, analysts believe Bitcoin’s bull market could outlast past cycles, extending past 2025. Bitcoin’s ( B TC ) future might break from its usual cycle, with analysts suggesting that past steep corrections could be a thing of the past. In an X post on Jan. 31, analysts at Singapore-based blockchain firm Matrixport suggested that with Wall Street stepping in, Bitcoin’s bull market could extend well beyond 2025. https://twitter.com/matrixport_en/status/1885236577888243838?s=20 The largest crypto by market capitalization typically follows a predictable pattern: three strong years, followed by a sharp correction of at least 70%. But this time could be different, the analysts say. The approval of spot Bitcoin exchange-traded fund in 2024 has brought in more institutional investors. “These institutional investors not only hold Bitcoin for longer durations but are also buoyed by the confidence provided by more transparent regulations. Additionally, structural macroeconomic tailwinds suggest that substantial capital allocation into Bitcoin could continue for years.” Matrixport You might also like: Bitcoin ETF inflows surge 500%, Ether ETFs start to recover While Bitcoin usually reacts to liquidity changes with a 13-week delay, current trends suggest a correction might be on the way, the analysts warn. However, they point out that Bitcoin is resisting those typical patterns as it “might decouple from global liquidity dynamics and maintain current levels.” According to Matrixport, Bitcoin’s price has historically followed a “power-law log chart.” In that chart, the lower boundary represents the cycle’s bottoming prices. In contrast, a breakout through the power-law line “signals the onset of a new bull market,” the add. Based on that framework, the current cycle suggests “potential upside targets of $157,000 or even as high as $315,000,” the analysts suggest, though the timing remains unclear as “this time, the dynamics may indeed be different.” Read more: Bitwise’s Bitcoin-Ethereum ETF gets initial SEC nod