XRP Could Drop Back Below $0.60, Predicts Analyst; Ancient Bitcoin Wallet Awakens With 10,817 Profit; 2,020,624,700 SHIB Burned in Just One Hour: Crypto News Digest by U.Today

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As a seasoned researcher with years of experience in the crypto realm, I can’t help but be intrigued by these three fascinating stories that have emerged over the past day.

U.Today has prepared the top three news stories over the past day.

XRP predicted to drop back below $0.60 by major analyst

Based on a forecast by popular Twitter user IncomeSharks (with over half a million followers), there’s a possibility that XRP may experience a significant price drop, potentially falling below the $0.60 threshold. IncomeSharks pointed out that around half of XRP’s total supply is not in circulation, with Ripple holding 38.9 billion tokens in escrow, which he suggests is a reason for the crypto community’s dislike of this token due to its pattern of price fluctuations. Weiss Crypto identifies potential reasons for XRP’s recent surge, including the anticipated approval of Ripple’s RLUSD stablecoin and the prospective launch of an XRP ETF. While some in the crypto community are excited about the idea of XRP reaching $100, others are cautious given the token’s history of dramatic downturns, such as its decline by nearly 75% from a peak of almost $2 in April 2021 within just two months.

Ancient Bitcoin wallet revives with staggering 10,817% profit

Yesterday, I stumbled upon some intriguing news from the world of crypto. The blockchain tracker Whale Alert spotted a whale that had been dormant for 10.9 years, and it made two transactions totaling 50 Bitcoins. This ancient whale transferred 47 BTC to an unknown recipient and moved 3 BTC to a Coinbase wallet designated for exchanges. Back in 2014 when the whale received these funds, Bitcoin was valued at $880.60 each, and the transaction amounted to just $44,030. However, the current value of that stash is a staggering $4,806,870, representing an unbelievable return of 10,817%. Bitcoin’s price at the time of writing stands at $95,754, up 1.87% over the last 24 hours. Although the reawakening of dormant BTC whales could potentially put pressure on the market by selling, the overall enthusiasm for Bitcoin seems to be driving its growth.

2,020,624,700 SHIB in just one hour – What’s going on?

According to Shibburn’s data, an unidentified large investor (referred to as a ‘whale’) has recently destroyed a significant number of SHIB tokens in a single transaction. This transaction was one of seven made by the community over the past day, with approximately 2.022 billion SHIB being disposed of in total. Notably, 2.020 billion SHIB (equivalent to around $59,608) were sent to an address where they can no longer be spent, all by this anonymous whale in a single transfer. Shibburn’s report suggests that the burning of 2.022 billion Shiba Inu coins has increased the burn rate significantly, up to 3,162.56%.

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2024-12-04 19:11