XRP Price Hits $2 in Epic Bullish Move; 1,003,000,000 SHIB Burned in Single Hour; Raoul Pal Issues Mega-Bullish Bitcoin Statement: Crypto News Digest by U.Today

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As a seasoned researcher with a knack for navigating the intricacies of the crypto market, I must say this weekend has been nothing short of exhilarating. The XRP price reaching $2 after six long years is a testament to the resilience and potential of cryptocurrencies, especially those backed by robust ecosystems like Ripple. The anticipation surrounding the potential approval of RLUSD and the ongoing legal battle against the SEC adds an extra layer of intrigue to XRP’s future.

U.Today has summarized the top three important news over the past weekend, take a look!

XRP price hits $2 in epic bullish move

This past Sunday, December 1st, was a significant moment for XRP as its price reached $2 for the first time in six years. At this point, XRP’s market capitalization is reported at $138.8 billion, with trade volume reaching an impressive $37 billion over the last day, according to CoinMarketCap statistics. The entire XRP ecosystem presents a fully diluted valuation (FDV) of $243.29 billion, suggesting its potential for future growth.

1,003,000,000 SHIB in single hour – What’s happening?

Data provided by Shibburn demonstrates that in just one day, Nov. 29, the SHIB community managed to increase the meme coin’s burn rate by 2,050%, with a total of 1,282,587,181 tokens transferred to an unspendable wallet. This significant burn was largely attributed to a single transaction by an anonymous wallet, which disposed of 1,003,266,585 SHIB in just one hour. In terms of transaction size, the other impressive transfers moved 209,312,491; 33,737,678 and 29,282,316 SHIB. In total, there have been 14 transactions to dead-end wallets, including several substantial transfers of additional SHIB tokens. At the moment of writing, SHIB is changing hands at $0.00002926, down 8.85% over the past 24 hours, per CoinMarketCap. 

“Strap in”: Raoul Pal issues mega-bullish Bitcoin statement

In a recent post, well-known investor Raoul Pal has made an extremely optimistic prediction about Bitcoin. He thinks that the leading cryptocurrency could soon reach $100,000, and he refers to this as the “banana zone,” which is a period when Bitcoin’s price may experience a significant surge in the long term. Pal suggests that we are currently moving along this path, implying a possible rapid increase in Bitcoin’s value. Despite his optimism about Bitcoin’s future growth, Pal advises investors to be prepared for “sharp drops” due to the typical volatility of the crypto market. However, he encourages his followers to get ready, as there is likely more significant growth ahead for Bitcoin in the coming time.

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2024-12-02 19:02