Here are the top three news stories from the past day brought to you by U.Today.
This $500 billion XRP prediction by Peter Brandt is mind-boggling
On January 7th, seasoned trader Peter Brandt used a popular platform to discuss his insights on the price chart of XRP. In his post, Brandt pointed out the emergence of a flag pattern, often seen as a sign that an asset’s price movement might temporarily halt before the existing trend resumes. Brandt predicts that XRP has approximately six weeks to finish this bullish pattern successfully; otherwise, it may become invalidated. If the flag pattern concludes and triggers a breakout, XRP’s market capitalization could potentially surge to an astounding $500 billion—a substantial increase from its current value of $139.72 billion. Although such a rise is not guaranteed, XRP has re-emerged as a topic of interest in the cryptocurrency market. As I write, XRP is being traded at $2.32, marking a 4.43% decrease over the past 24 hours according to CoinMarketCap.
8,184,600,000,000 Shiba Inu exit top Singapore exchange, what’s happening?
Based on information from Whale Alert, approximately 8.19 billion SHIB tokens were transferred from the Singapore-based exchange, Crypto.com, to anonymous wallets yesterday. This was done in five separate transactions, with one transaction involving 1.64 trillion SHIB worth around $39 million. The other four transactions had comparable transfer sizes, although there was a progressive decrease in the amount transferred over time. Such a withdrawal from an exchange usually indicates accumulation, which can be a sign of potential price growth in the future. However, the current trend for SHIB is not promising; at present, this dog-themed meme token is trading at $0.00002165 on CoinMarketCap, representing nearly a 10% decrease over the past 24 hours.
Coinbase secures massive legal win against SEC
Through a post by Paul Grewal on X, it was revealed that Coinbase, the U.S.-based cryptocurrency exchange, has scored a substantial legal triumph in its ongoing tussle with the SEC. As per Grewal, Coinbase is now permitted to file an intermediate appeal while putting district court litigation on hold. In his post, the Chief Legal Officer expressed appreciation for the court’s decision and hinted at the company’s preparedness to proceed to the Second Circuit. U.S. District Judge Katharine Polk Failla consented to the interlocutory appeal, asserting that it addresses a crucial question of law regarding the scope and interpretation of the Howey test as it pertains to cryptocurrencies. The judge also noted that an immediate interlocutory appeal could swiftly resolve the case since several of the SEC’s allegations against Coinbase might be dropped. Jeremy Hogan, a partner at Hogan & Hogan, highlighted that such an appeal is seldom granted.
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2025-01-08 19:16