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A strong indication of a bull market is found in the crypto space, evident by the rising prices of major altcoins and the leading cryptocurrency, bitcoin. XRP, after years of legal battles and stagnation, appears to have gained momentum as well, thanks to current market sentiments.
In addition to speculation about a massive XRP pump, investors have also been waiting patiently for bitcoin to finally cross the $100,000 mark. This anticipation has also caused an increase in the number of investors, with most looking for projects with which to obtain large profits.
How long until XRP reaches $2?
Market conditions have already been bullish and XRP seems to have been announcing major events one after another. The combination of this may have contributed greatly to the boom it has been registering so far. The last two weeks have also seen a massive increase in whale activity, with most major buyers stocking up on more and more XRP tokens.
Santiment, the popular research company had shared in October that the number of XRP wallets had also suddenly increased. Their data also showed that in a period of 7 days, the whales managed to increase their holdings by over 700 million XRP tokens.
XRP has also been very active in several countries and appears to be in talks to be adopted as part of the countries' digital stablecoins. One example is India, as the Reserve Bank of India (RBI), India's central bank, recently confirmed a partnership with Ripple Labs for its Digital Rupee initiative. RBI will use Ripple's XRP Ledger and the company's expertise in blockchain technology and cross-border transactions to improve the efficiency and security of the digital rupee.
At the time of writing, the token is priced around $1.7 and has been in a continuous uptrend. The RSI shows that XRP is in seriously overbought territory, sitting at over 97 points at the moment.
A healthy correction can be expected, but if btc dominance declines further, then it may not be surprising to see altcoins as a whole gain more traction and pump, with XRP also being part of the pump tokens.
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<a target="_blank" href="https://twitter.com/search?q=%24XRP&src=ctag&ref_src=twsrc%5Etfw”>$XRP A historic break is coming
In all my years of trading cryptocurrencies, I have NEVER seen a 7-year long bull pennant.
We could be about to witness one of the biggest breakouts in cryptocurrency history. pic.twitter.com/X4H5otlcAM
– crypto Michael (@MichaelXBT) <a target="_blank" href="https://twitter.com/MichaelXBT/status/1813386615013683613?ref_src=twsrc%5Etfw”>July 17, 2024
The token is yet to see another 15%+ gain to reach its $2 mark, which would put the token's total market capitalization at over $110 billion from its current range of $97.5 billion. dollars. Either way, investors seem optimistic about the token, with many analysts predicting a $2 target for the token before the end of 2024.
Will bitcoin cross $100,000 this week?
This is a question that has been on every investor's mind recently. After it managed to cross the $99,000 range last week, investors were confident that it would break the $100,000 barrier. But instead, btc experienced a massive correction, falling as much as $90k in a matter of days. It has since regained strength, but there still appears to be heavy trading activity that has been affecting its movements.
<img decoding="async" class="aligncenter size-full wp-image-605773" src="data:image/svg+xml,%3Csvg%20xmlns=" http:="" alt="bitcoin liquidity” width=”2089″ height=”1260″ data-lazy-srcset=”https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM.jpg 2089w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-300×181.jpg 300w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-1024×618.jpg 1024w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-768×463.jpg 768w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-1536×926.jpg 1536w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-2048×1235.jpg 2048w” data-lazy-sizes=”(max-width: 2089px) 100vw, 2089px” data-lazy-src=”https://technicalterrence.com/wp-content/uploads/2024/11/XRP-is-about-to-hit-2-will-BTC-price-hit.jpg”/><img decoding="async" class="aligncenter size-full wp-image-605773" src="https://technicalterrence.com/wp-content/uploads/2024/11/XRP-is-about-to-hit-2-will-BTC-price-hit.jpg" alt="bitcoin liquidity” width=”2089″ height=”1260″ srcset=”https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM.jpg 2089w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-300×181.jpg 300w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-1024×618.jpg 1024w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-768×463.jpg 768w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-1536×926.jpg 1536w, https://insidebitcoins.com/wp-content/uploads/2024/11/Screenshot-2024-11-30-at-12.22.10 AM-2048×1235.jpg 2048w” sizes=”(max-width: 2089px) 100vw, 2089px”/>
The bitcoin liquidation heatmap recorded significant clusters near $100,000 and $95,000. These levels represent areas where leveraged long and short positions are concentrated, attracting traders looking to trigger liquidations to turn a profit. The chart shows a steady upward trend, with consolidation between $95,000 and $100,000. Both long and short positions have a strong presence, but one barely outweighs the other. Therefore, the probability of bitcoin seems to depend mainly on market sentiment.
Reaching $100,000 depends on market momentum overcoming current resistance. The high liquidity at $100,000 could lead to a breakout, driven by bullish sentiment, or a pullback due to profit-taking and selling pressure. However, a drop below $95,000 could trigger a cascade of liquidations, driving the price down.
It is possible that if bitcoin maintains its bullish trajectory, $100,000 could be tested within days, especially with strong macroeconomic or crypto market catalysts. Austin Hiltona veteran crypto analyst, also shared in one of his YouTube videos that bitcoin is likely to see massive growth in the coming days. He also speculated that XRP's current momentum may remain intact and that it may cross the $2 range to explore higher territories in the coming weeks.
Investors seek small-cap gems
The possibility of a bull market has created a sense of anticipation among the general investing public. This has led most of them to look for projects that can possibly rise 10x or even 100x, which is often possible during a bull cycle.
Two trending options that there seems to be a lot of attention on are:
Pepe Unchained
Pepe Unchained is an innovative crypto project that is based on the iconic Pepe meme and introduces an advanced ecosystem with its own blockchain. Designed to elevate the memecoin concept, Pepe Unchained incorporates Layer 2 (L2) capabilities for faster transactions and lower fees, addressing common scalability issues in the space.
This improved iteration of Pepe brings a more utility-driven approach, leveraging its blockchain to support decentralized applications (dApps) and offering strong security across its infrastructure.
Several major crypto websites and YouTube channels including 99BitcoinsThey have taken up the project to promote it as one of the most important and possibly the most successful memecoin launches this year.
It is one of the most successful memecoin pre-sales of the moment, having raised more than 58 million dollars in its pre-sale that is almost about to end. With instant connection capabilities, low transaction fees, and other features, this new way of being a Pepe enthusiast has struck a chord with many, leaving PEPU, its native token, as a highly sought-after token at the moment.
Slap
Catslap is a fun and innovative cat-themed memecoin that captures attention with its fun “slap” concept. At its core is the Slapometer, a unique mechanism that rewards users for participating in “slaps,” creating an engaging and gamified experience. The developers have ambitious plans to improve this feature, incorporating more interactive elements into the ecosystem. Cat-themed memecoins are all the rage and Catslap stands out for its humor and creativity.
Currently, in its small cap phase, Catslap is priced at just $0.0028, making it an attractive entry point for investors. It gained significant momentum during the launch of the non-pre-sale fair, emphasizing transparency and inclusivity.
Backed by popular crypto YouTubers like ClayBro and others, many speculate that the project's pumping probability is quite high. With its solid theme, rewards system, and future plans, Catslap positions itself as an interesting cryptocurrency worth exploring right now.
While XRP and bitcoin appear to be preparing to skyrocket and hit the nearest speculated targets, these memecoins could also be great additions to the portfolio, especially if they are looking to capitalize on early-stage projects with low market caps.
Most Wanted crypto Launch: Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured on Cointelegraph
- SolidProof and Coinsult audited
- Staking Rewards – pepeunchained.com
- More than $40 million raised in ICO – December ends
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