In the rapidly evolving landscape of digital finance, the emergence of crypto assets has introduced unprecedented challenges as well as opportunities for regulators who provide proactive frameworks across the globe. The European Union is the largest government body that has done so through the Markets in Crypto-Assets Regulation (MiCAR), however, it finds itself at a […]
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Analyst: Bank of Thailand Boosts Gold Reserves to Push De-Dollarized Trading System Fueled by CBDC
The Bank of Thailand might be increasing its gold reserves to power a de-dollarized trading system, according to Jan Nieuwenhuijs, a gold market analyst. Nieuwenhuijs states that the Bank of Thailand’s constant gold purchases might indicate the nation is preparing to address the possible trade imbalances derived from using Mbridge, a CBDC cross-border settlement project. […]
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Putin Says BRICS Developing Independent Payment System Free From Political Pressure
Russian President Vladimir Putin recently announced that the BRICS bloc aims to establish an independent payment system, free from political pressure and external interference. Putin stated that the addition of new members has increased BRICS’ share of global GDP to 36% and its share of the global population to 45%. Putin Announces BRICS Open to […]
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Economist Jim Rickards: The Global Clearance and Settlement System Might Collapse After Seizure of Russian Assets
Jim Rickards, an economist and author of the best-selling book ‘Currency Wars,’ has issued an alert about the possible collapse of the global clearance system. In a recent interview, Rickards noted that Euroclear, a settlement service, holds 0 billion in Russian assets. He further explained that Euroclear could face lawsuits if Western countries seize these […]
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IMF Acknowledges Russian Assets’ Confiscation Might Undermine the World’s Financial System
The IMF has expressed its concerns about the possible outcome of the confiscation of Russian assets abroad as a consequence of the ongoing military conflict between the nation and Ukraine. Julie Kozack, a spokesperson for the institution, called for these actions to have a proper justification to avoid threatening the world’s financial system. IMF Calls […]
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten ‘the Broader Financial System’
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
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Financial Nonprofit Better Markets: Approving a Spot Ether ETF Would Threaten ‘the Broader Financial System’
Better Markets, a financial nonprofit organization, has lashed out against approving a spot ether ETF product, stating that it would endanger the broader financial system. In a supplemental comment letter sent to the SEC, the organization states that approving these spot ether ETPs would “interweave the crypto industry with traditional finance,” aggravating systemic risks introduced […]
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Coinbase Faces System Wide Outage, Affirms Funds Are Safe
Coinbase, one of the largest U.S.-based cryptocurrency exchanges, reported a system-wide outage in its services, affecting customers’ crypto operations. On its status site, Coinbase stated that it was aware that “some users may experience failures when sending crypto or withdrawing fiat,” and declared it was working to fix this issue. Later, the exchange recognized experiencing […]
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Gaming The System: Pundit Reveals Why XRP Price Will Reach $33
A crypto analyst has predicted a substantial bullish surge for the the XRP price in the future. According to the analyst, XRP is gearing up for a substantial increase to .5 from an initial price of .50. He expects the price of the cryptocurrency to explode by 6600% in this current market cycle.
Analyst Forecasts Exponential Rise In XRP Price
In a recent X (formerly Twitter) post, a crypto analyst identified as ‘Egrag Crypto,’ revealed a series of bullish price targets for XRP in the near future. The analyst focused his predictions on a technical analysis called “the Line of Hestia.”
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Egrag Crypto’s latest findings suggest that XRP could rise to .5 if it touches the Line of Hestia, a technical indicator featuring an ascending trend line which signals a potential upsurge for the price of a cryptocurrency. According to the analyst, “Historical data indicates that every time the XRP price touches the “Line of Hestia,” it experiences significant price pumps.”
This implies that there may be a correlation between XRP’s bullish price movements and the ascending trend line. Egrag Crypto also revealed that following this historical pattern, XRP has witnessed pumps ranging from 6600%,1444%, 100%, 80%, and 171%.
Given the established trend, Egrag Crypto predicts XRP’s ascent to new all-time highs. He calculated the average percentage increase of XRP’s price each time it touched the Line of Hestia, dividing the sum by the total number of occurrences, which is five.
Using this data, the crypto analyst estimates that if XRP were to experience a 6600% increase, its future price would be .50. Similarly, he calculated new prices for XRP based on the previous percentages.
It’s important to note that the price of XRP, at the time of writing, is trading at .5. The cryptocurrency has been recording considerable declines over the past year, consolidating around the .5 price mark for months. According to CoinMarketCap, XRP has also recorded a 7.35% decrease over the past seven days and a 0.08% decline in the last 24 hours.
Although Egrag Crypto has remained optimistic about XRP’s future price, other crypto community members have expressed skepticism over the analyst’s ambitious forecast. A few community members have denied the prediction, emphasizing that the cryptocurrency’s surge to .5 during this cycle was highly unlikely.
Possible Price Correction Ahead Of Projected Surge
In one of his most recent X posts, Egrag Crypto disclosed that XRP could witness a major price correction before experiencing a significant rally. The analyst has urged crypto investors to remain cautious of the cryptocurrency unless the XRP/BTC ratio closes above the .00010 threshold.
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Egrag Crypto anticipates a potential 45% decline for XRP/BTC, emphasizing that this substantial price drop could indicate a bottom between .0000055 and .0000077. However, he also disclosed that overcoming resistance at .00001 would be crucial for a rebound in XRP.
Analyst: Gold and Silver Set to Rally Amidst a Collapse of the US Financial System
Egon von Greyerz, a former banker and gold analyst, claims that gold and silver are set for a price rally amidst an upcoming collapse of the U.S. financial system. Von Greyerz states that interest rates will exceed 10% in a hyperinflationary environment, fueled by the issuance of unlimited debt and the loss of trust in […]
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