![XRP Dominance: Pundit Says Missing This Altcoin Could Be A Big Mistake](/image/66807e084cb9e.jpg)
A crypto pundit has declared that missing out on XRP, the native token of the XRP Ledger (XRPL) could potentially become the biggest mistake an individual can make. The analyst has expressed bullish sentiment on its dominance and future outlook following its possible integration into financial banking systems. Related Reading: Don’t Sweat The Dip! Ethereum 15% Price Slump Could Spark Epic Comeback — Analyst Here’s Why Investors Should Not Miss Out On XRP In a June 27 X (formerly Twitter) post, crypto analyst and avid XRP supporter, King Karan boldly demonstrated his confidence in the crypto’s long-term price prospects. According to Karan, missing out on XRP’s integration into the financial banking system could become one of the most profound mistakes for investors. The analyst has implied that its complete integration into the financial banking system could lead to substantial gains, potentially pushing the cryptocurrency’s price to new all-time highs. He has expressed complete confidence in XRP’s bullish prospects, asserting he would be satisfied with his investment timeline whether a price surge occurs tomorrow or in the next two years. Karan’s bullish sentiment for XRP likely stems from Ripple’s plans to expand its digital asset operations to various trillion-dollar markets and the altcoin’s goal to replace the SWIFT network, a vast messaging network used by global banks and financial institutions. This potential integration could significantly expose XRP to new markets, fueling widespread adoption and potentially triggering a price surge for the cryptocurrency. Earlier this year, reports disclosed a major achievement for the Ripple ecosystem, underscoring the potential for the coin to become adopted for international payments. Additionally, Ripple’s Chief Legal Officer (CLO), Stuart Alderoty also predicted last year that XRP could once again be utilized for cross-border payments in the United States (US). Kang’s deep-rooted belief in the digital asset’s eventual success in the market is heavily dependent on the cryptocurrency becoming adopted by financial institutions. Currently, XRP provides a more affordable and incredibly fast cross-border payment method than leading cryptocurrencies like Bitcoin. With XRP, cross-border transactions are completed in just three to five seconds, making it one of the fastest methods for international money transfers. Kang has further disclosed that he will continue being bullish on XRP. He revealed his investments in a diverse array of altcoins, emphasizing his strategy of diversification to secure profits despite XRP’s current underperformance. Other Key Developments That Could Prove Bullish For XRP Beyond its adoption prospects within the financial banking sector, the conclusion of Ripple’s legal battle with the United States Securities and Exchange Commission (SEC) and the potential launch of an XRP ETF could trigger a significant bullish rally for the altcoin. Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse and President, Monica Long have also shared their support for an XRP ETF. Garlinghouse believes that the launch of an Ethereum Spot ETF would eventually open doors for the introduction of other crypto ETFs, highlighting that an XRP ETF was inevitable. On the other hand, Long noted that introducing an ETF would be a highly sensible decision. Related Reading: Don’t Sweat The Dip! Ethereum 15% Price Slump Could Spark Epic Comeback — Analyst Despite the optimistic remarks, XRP continues to trade sideways, experiencing a 2.28% decline over the past week and dropping to $0.47, according to CoinMarketCap. Featured image from PlasBit, chart from TradingView
NewsBTC
You can visit the page to read the article.
Source: NewsBTC
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Bitcoin Opens at $62,672, Tests $63,808, and Settles at $62,777
![**Bitcoin Price Fluctuates Amidst Market Volatility** In the latest market movements, Bitcoin opened the day at $62,672 and briefly tested the $63,808 mark. However, the upward momentum didn’t last long, and the leading cryptocurrency quickly pulled back to its current level of $62,777. This brief spike and subsequent drop illustrate the ongoing volatility in the](/image/66832debf0172.jpg)
**Bitcoin Price Fluctuates Amidst Market Volatility** In the latest market movements, Bitcoin opened the day at $62,672 and briefly tested the $63,808 mark. However, the upward momentum didn’t last long, and the leading cryptocurrency quickly pulled back to its current level of $62,777. This brief spike and subsequent drop illustrate the ongoing volatility in the NewsBTC
![In the financial market, historical trends often offer a glimpse into potential future outcomes and so far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to predict another fruitful period. A Profitable July For Bitcoin And Ethereum According to seasoned market analysts from QCP Capital, Bitcoin has displayed a median return of 9.6% in July over the years, with a pattern of bouncing back significanly following lackluster performances in June. This year, Bitcoin’s decline of nearly 10% in June sets the stage for a possible uplift in July based on these historical insights. 3/ Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%). — QCP (@QCPgroup) July 1, 2024 Adding to the optimistic outlook, Coinbase analysts David Duong and David Han have corroborated the trend, noting that improved liquidity conditions expected in July could further “bolster” the market. Related Reading: Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run? The aftermath of June’s sell-offs has cleansed the market of excess positions, potentially paving the way for more stable and positive price movements. Moreover, the trading volumes for Bitcoin and Ethereum, encompassing both spot and futures across global exchanges, have witnessed a dip from $90 billion in May to $75 billion in June. This consolidation in trade volumes is seen as setting a healthier stage for the next wave of market activity, according to the analysts.. The positive July seasonality is not just a pattern observed in the top cryptocurrencies but is also underpinned by broader market dynamics. Analysts like Ali have pointed out that the recovery patterns post-June slumps particularly indicate “strong bounce back” in July performances historically. Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month. pic.twitter.com/fJaIwc7Eob — Ali (@ali_charts) June 30, 2024 This has been particularly true for Bitcoin, which has shown an average return of nearly 8% during this month. BTC Current Market Performance It is worth noting that the setup for a bullish July is further supported by the technical analysis of Bitcoin’s recent price movements. In the past 24 hours alone, Bitcoin has surged by 2.7% currently trading at $63,104, marking a promising start to the month. This recent uptick has pushed its weekly gains to a similar 2.7%, reflecting growing investor confidence. Despite these historical and current positive indicators, the predictions aren’t without their challenges. Market conditions, including macroeconomic factors and regulatory developments could still influence crypto prices in a way not expected. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows Additionally, while analysts provide a hopeful outlook based on statistical and historical data, the volatile nature of cryptocurrency markets means that significant divergences from past trends can still occur. Featured image created with DALL-E, Chart from TradingView](/image/66833d28d5b68.jpg)
Market Analysts Eye July for Potential Big Wins in Bitcoin and Ethereum — Here’s Why
In the financial market, historical trends often offer a glimpse into potential future outcomes and so far, July has historically been a strong month for both Bitcoin and Ethereum, and analysts are eyeing this pattern to predict another fruitful period. A Profitable July For Bitcoin And Ethereum According to seasoned market analysts from QCP Capital, Bitcoin has displayed a median return of 9.6% in July over the years, with a pattern of bouncing back significanly following lackluster performances in June. This year, Bitcoin’s decline of nearly 10% in June sets the stage for a possible uplift in July based on these historical insights. 3/ Looking at seasonality, BTC has a median return of 9.6% in July and tends to bounce back strongly especially after a negative June (-9.85%). — QCP (@QCPgroup) July 1, 2024 Adding to the optimistic outlook, Coinbase analysts David Duong and David Han have corroborated the trend, noting that improved liquidity conditions expected in July could further “bolster” the market. Related Reading: Bitcoin Nears $64,515 Resistance: Will A Breakthrough Ignite A Bullish Run? The aftermath of June’s sell-offs has cleansed the market of excess positions, potentially paving the way for more stable and positive price movements. Moreover, the trading volumes for Bitcoin and Ethereum, encompassing both spot and futures across global exchanges, have witnessed a dip from $90 billion in May to $75 billion in June. This consolidation in trade volumes is seen as setting a healthier stage for the next wave of market activity, according to the analysts.. The positive July seasonality is not just a pattern observed in the top cryptocurrencies but is also underpinned by broader market dynamics. Analysts like Ali have pointed out that the recovery patterns post-June slumps particularly indicate “strong bounce back” in July performances historically. Historically, when #Bitcoin has had a negative June, it tends to bounce back strongly in July. In fact, $BTC has shown an average return of 7.98% and a median return of 9.60% during this month. pic.twitter.com/fJaIwc7Eob — Ali (@ali_charts) June 30, 2024 This has been particularly true for Bitcoin, which has shown an average return of nearly 8% during this month. BTC Current Market Performance It is worth noting that the setup for a bullish July is further supported by the technical analysis of Bitcoin’s recent price movements. In the past 24 hours alone, Bitcoin has surged by 2.7% currently trading at $63,104, marking a promising start to the month. This recent uptick has pushed its weekly gains to a similar 2.7%, reflecting growing investor confidence. Despite these historical and current positive indicators, the predictions aren’t without their challenges. Market conditions, including macroeconomic factors and regulatory developments could still influence crypto prices in a way not expected. Related Reading: Bitcoin Weekend Trading Takes A Siesta: Volumes Plunge To Record Lows Additionally, while analysts provide a hopeful outlook based on statistical and historical data, the volatile nature of cryptocurrency markets means that significant divergences from past trends can still occur. Featured image created with DALL-E, Chart from TradingView NewsBTC