Stay ahead of the game with U.Today’s top three news stories in the crypto world.
XRP Gears Up for Biggest Breakout in Price History
Is XRP on the brink of a major breakthrough? According to the chart provided by TradingView, XRP, the Ripple-affiliated token, is showing signs of gearing up for the biggest breakout in its price history. A symmetrical bullish triangle pattern has formed over the past six years, with converging trend lines meeting at the apex. This pattern typically indicates an upcoming breakout in the direction of the existing trend, which is upward. If history repeats itself, as seen in the 2017-2018 case where XRP surged by a remarkable 60,000%, we can expect bullish momentum to continue once the breakout occurs. The completion of the pattern seems imminent based on the XRP price chart, suggesting potential significant gains in the near future.
Shibarium Close to Breaking Another Major Milestone
Shibarium, the layer-2 solution of Inu, is on track to achieve a significant milestone. Data from Shibariumscan reveals that the total number of blocks on Shibarium has reached 6,398,912 after about a year since its launch. This puts Shibarium closer to the 6.5 million milestone, a crucial step for the layer-2 solution. Additionally, the network has seen a surge in total transactions, reaching 418,989,504, with 1,812,422 wallet addresses. Recent developments include the introduction of a burn portal to remove excess SHIB tokens from circulation and the integration of on-ramp features for BONE tokens with Visa and Mastercard.
Bitcoin as a Risk-Off Asset: Samson Mow Clarifies Crucial Nuance
Samson Mow, CEO of JAN3 and a prominent Bitcoin maximalist, recently shed light on why Bitcoin is considered a risk-off asset and for which groups of market participants it holds less risk compared to other investments. Mow highlighted four types of investors for whom Bitcoin is a relatively safer investment option: those with low time preference, a good understanding of money, facing inflation concerns, or residing in countries with oppressive governments. Mow also emphasized the resilience of retail investors, urging not to underestimate their ability to absorb Bitcoin supply in the market.
Don’t miss out on these game-changing developments in the crypto space. Stay informed and make informed investment decisions.