Ripple CTO Exposes XRP’s Misleading ATH, Litecoin ETF Approval on the Horizon!

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Here are the top three news stories over the past day presented to you by U.Today.

Ripple CTO reveals painful truth about XRP $3.84 “ATH“

David Schwartz, Ripple’s Chief Technology Officer, recently used a discussion platform to clarify that the $3.84 price point XRP reached in January 2018 was not its all-time high (ATH). User @Onlyhoodvibes88 tagged Schwartz, stating that this price level wasn’t an ATH for XRP; he explained that the $3.84 figure was misleading because it included inflated prices from Korean exchange rates. In response, Schwartz acknowledged that this reported ATH was incorrect and stated that it was impossible to buy or sell XRP at $3.84 back then as the high price included “inflated amounts due to the use of ‘official’ currency exchange rates for Korean exchange rates.” Currently, XRP is trading above the $3 mark, with a value of $3.26 according to CoinMarketCap at the time of writing.

Top expert: Litecoin ETF next in line

According to analyst Eric Balchunas’s statements, it appears that Litecoin could be the next cryptocurrency to get a spot ETF approval in the U.S., as suggested by Canary Capital Group’s recent amendment to their S-1 filing. However, while there’s positive sentiment about this development, its ultimate outcome is still uncertain. Balchunas added that recent indications suggest the SEC might be leaning towards approving such a product. In the prediction market Polymarkets, there’s currently a 54% chance of a Litecoin ETF being approved by 2025, with a 39% likelihood of approval before July 31. It’s worth noting that there are also pending ETF applications for altcoins like Solana and XRP, but Balchunas believes these products may not be approved until after Litecoin due to regulatory concerns.

Shiba Inu (SHIB) awaits 64 trillion level: Massive accumulation

At the moment, Shiba Inu’s market behavior is showing some ambiguity. Though its price remains stable, on-chain analysis indicates substantial hoarding of tokens at a crucial support point ranging from $0.000021 to $0.000022, with approximately 30,800 addresses holding over 64 trillion tokens there. This vital support level plays a significant role in predicting SHIB’s future trend. At present, about 35% and 62% of SHIB holders have made profits by buying at lower prices, while 63% are still in the red, showing uncertainty among traders. If Shiba Inu can keep amassing tokens at this support level, a possible recovery toward $0.000024 or higher could be expected. On the contrary, if it dips below $0.000021, it may initiate a bearish trend, emphasizing the importance of this support level for Shiba Inu’s price movement.

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2025-01-17 20:02