As a seasoned researcher who has navigated through the volatile crypto market for years, I find myself intrigued by the recent developments in the digital asset sphere. The anticipated breakout of XRP is indeed an exciting prospect, considering its potential to create significant waves in the market. However, my experience teaches me to remain cautious and not get carried away by the hype alone.
U.Today has prepared a summary of the top three news stories over the weekend.
XRP gears up for biggest breakout in price history
Focusing on recent positive legal advancements, interest towards XRP, the token associated with Ripple, has resurged. In just the past week, XRP’s price has experienced a surge of 17.26%, and its daily trading volume exceeds a billion dollars. What’s captivating investors is a bullish triangle pattern emerging on XRP’s monthly chart. This technical pattern, which consists of trendlines gradually converging within an upward trend, often signals substantial price fluctuations. The formation suggests that more buyers are entering the market, increasing the likelihood that XRP could breach the upper trend line, potentially leading to a significant price increase. Nonetheless, investors should remain vigilant as the crypto market remains volatile.
Crucial Bitcoin (BTC) security warning issued by Samson Mow
In a recent post on platform X, Samson Mow, the CEO of Jan3 and a strong advocate for Bitcoin, spoke to his followers about the importance of securely storing Bitcoin. He advised against keeping essential Bitcoin assets at home, emphasizing that even BTC owners should find it challenging to transfer their cold wallet-stored funds. Mow’s post concluded with the statement: “Re-read this. If your cold storage is easily accessible, then it’s not cold enough.” To illustrate his point, Mow shared a video depicting three burglars attempting to steal an unopenable safe from a house.
Coinbase announces two new listings
Based on a recent report from Wu Blockchain X, Coinbase has announced plans to list two new cryptocurrencies, ZetaChain (ZETACHAIN) and Across Protocol (ACX). This decision is part of Coinbase’s continuous mission to expand its digital asset selection. By listing these coins, Coinbase aims to give its users access to innovative blockchain projects. It’s worth noting that ZetaChain is a Layer 1 (L1) blockchain and smart contract platform primarily focusing on interoperability. On the other hand, Across Protocol is an Optimistic-based cross-chain bridging protocol, which leverages Optimistic rollups as a scaling solution for Ethereum to facilitate faster and cheaper transactions without compromising the security of the Ethereum network.
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2024-08-12 19:35