Uphold 2nd Biggest XRP Holder

Posted on January 1, 2025 by Olumide Adesina

Uphold, a global multi-asset trading platform, is now the second-largest holder of XRP. The platform has a remarkable balance of about 2 billion XRP tokens on December 27, which affirms its dominant position in the Rippe community.

The cryptocurrency community has taken notice of this announcement because Uphold has 1,859,132,752 XRP in total second only to Ripple in this sizeable reserve.

It shows that the business strongly believes in XRP’s long-term prospects. Uphold’s dedication to preserving such a sizeable reserve indicates that it adheres to the security and transparency principles critical in digital space

The action is also anticipated to increase trust among token owners who trade and manage their assets on Uphold’s platform. It also affirms the increasing institutional adoption of XRP.

The asset continues to draw interest as platforms secure substantial reserves. The growing usage of the token for remittance services and Ripple’s continuous collaborations with financial institutions have helped the company establish a strong market position.

Uphold is a digital exchange and wallet provider for many crypto assets. Its capacity to oversee a sizable XRP reserve is evidence of its strategic vision and operational effectiveness. \

The SEC’s lawsuit against Ripple has sparked debate over whether the native token qualifies as a security. Uphold maintains a sizable holding despite such difficulties, which shows that it believes in the cryptocurrency’s potential despite legal uncertainty.

Ethereum’s Founder Cautions World Richest Man

Posted on January 1, 2025 by Olumide Adesina

Vitalik Buterin, a co-founder of Ethereum, urged Elon Musk, the world’s richest man to “turn down the temperature” amid a contentious discussion about foreign tech workers on his platform, which has sparked fresh controversy over free speech.

Buterin wrote in a December 31 post to X that although he appreciated Musk’s determination to defend free speech, he urged the Tesla CEO to “lower the temperature” on the “tone of discourse”.

Vitalik’s reaction, was a response to an escalating X post from Musk, advocating for foreign workers’ rights to work in the US on H1B visas.

Musk faced backlash from the conservative sector when he advocated foreign tech specialists’ recruitment at leading American corporations, with conservatives claiming that the job market was growing less welcoming for domestic citizens due to this practice.

Subsequently, several conservatives leveled accusations of censorship against Musk following reports that his social media platform had allegedly stripped premium features from accounts that challenged his views on the H1B visa controversy.

Buterin further emphasized that the “banhammer,” a term used to denote a moderator or administrator who removes users for inappropriate behavior, is not an adequate tool to manage speech. Eventually, public discourse deteriorates into fragmentation, where the dominant force is not the one with the strongest arguments, but the one with the most power or a constant conflict among all parties.

Ripple’s XRP Legal Battle Begins January 15

Posted on January 1, 2025 by Olumide Adesina

The SEC has until January 15, 2025, to submit its opening brief against Ripple’s based token, which will keep the case in the public eye.

A resolution might be accelerated, if Paul Atkins, a presidential candidate of Donald Trump, is appointed as the SEC chair. If this happens, the outcome of the case may have a significant impact on the direction of the token’s price.

Judge Analisa Torres’ decision on July 13, 2023, that XRP is not a security was a turning point in the regulatory process. The token’s market value briefly increased because of this ruling, but questions remained.

On the other hand, the SEC challenged some aspects of the previous ruling in an appeal submitted on October 17.

XRP stands to benefit more than most other cryptocurrencies from a Trump presidency. Over the past few years, the Securities and Exchange Commission (SEC) and other regulators have put regulatory pressure on the cryptocurrency industry.

Atkins, who most recently worked for a crypto advocacy firm, is pro-crypto. Additionally, some believe Atkins could dismiss or settle the lawsuit against Larsen, Garlinghouse, and Ripple if Congress approves it.

This would open the door for an XRP exchange-traded fund (ETF) in 2025 and finally remove XRP from the SEC’s purview. Since they made it simpler for the general public to invest in cryptocurrencies and for big brokerages and asset managers to provide investments to clients, the SEC’s 2024 approval of spot Bitcoin and spot Ethereum ETFs under Gensler proved to be significant catalysts for both tokens.

Forex Signals Brief Dec 31: Farewell 2024 With a Bonus from Santa

Posted on December 31, 2024December 31, 2024 by Skerdian Meta

Today we close 2024, heading into the new year with some nice profit from the trades issued. It was a volatile year, but also with many opportunities to trade in financial markets.

Continue reading “Forex Signals Brief Dec 31: Farewell 2024 With a Bonus from Santa” →

Cardano Confirms Ripple’s XRP Alliance

Posted on December 30, 2024 by Olumide Adesina

Charles Hoskinson, Cardano founder, disclosed the specifics of his most recent meetings with Ripple and the potential for the two blockchain networks to work together. Hoskinson claims he had a positive and encouraging conversation about potential future partnerships with the Ripple team during an AMA session.

Hoskinson expressed confidence in Ripple’s stablecoin prospects in the Cardano ecosystem, even though Ripple has not made a detailed announcement about its plan and development. He demonstrated the potential of RLUSD in the Cardano DeFi ecosystem by saying, “There’s no reason why we shouldn’t work together.”.

Additionally, Hoskinson provided some information regarding his contacts with Ripple, specifically with the developers of RLUSD, the company’s recently released stablecoin. RLUSD intends to list on additional blockchain platforms after being traded on Ethereum and the XRP Ledger. Hoskinson stated that he loved working with the Ripple team and that Cardano may be included in these networks in 2024.

RLUSD is a stablecoin correlated with the greenback and is issued natively on the Ethereum and XRP Ledger networks.

RLUSD has been accessible on the well-known platforms Bitso, MoonPay, and Uphold. Its introduction of Bullish and Independent Reserve has had a significant impact and now permits transactions in some currencies, including ETH, SOL, XRP, and even the euro.

Ripple appears to be working toward a full ecosystem, which includes decentralized finance, payments, and much more. The cryptocurrency company wants to support the price of XRP while bolstering its market position. a trend that might encourage other players to do the same. Ripple’s RLUSD ignited the cryptocurrency market in a single day, resulting in over $1 billion in trading volume. An exuberant beginning that suggests this stablecoin has a bright future.

The token is used for several purposes, such as decentralized banking and international payments.

Investors have more reasons than ever to purchase and hold onto XRP. The Ripple Labs ecosystem is expanding with the launch of the RLUSD stablecoin. XRP and RLUSD are expected to complement each other.

Time To Sell XRP & Bitcoin

Posted on December 30, 2024December 30, 2024 by Olumide Adesina

Bitcoin’s price drop below $92K could be a warning sign of trouble and pave the way for a steep decline to about $73K.

The level of $92,118, which was the low on December 20th, is still critical support for Bitcoin and will be tested next. The price made a higher low, indicating some buyer activity, even though it was close to this level on December 23rd. The continuous decline, however, suggests that this support will probably be put to the test once more soon.

Veteran trader Peter Brandt, who made headlines for his 2018 prediction of the Bitcoin crash, has also voiced concerns that the cryptocurrency may be about to break out of a bearish technical analysis signal known as a “broadening triangle,” which could lead to a decline to about $70K.

In the meantime, analyst Benjamin Cohen and Fundstrat managing director Mark Newton have both voiced concerns that the price of Bitcoin may drop to the $60,000 range soon.

According to Cohen, the price of Bitcoin may exhibit a similar trend to that of other assets, like the Invesco QQQ Trust, and even plummet around important political occasions, like Donald Trump’s inauguration day early next year.

The dollar index’s surge to 108.5 index points to its highest level in months, is now a major problem for the digital space. Speculative assets have become less appealing to investors because of the dollar’s strength, It is undoubtedly more difficult for cryptocurrencies denominated in the USD to maintain growth during an already protracted bull run because the currency hasn’t been this strong in over two decades

Ripple

The altcoin’s recent trading activity has been relatively mild and its volatility has been limited to the $2–$3 range. The $2 support zone, which has historical significance as a previous swing high and a concentration of demand, is currently where the cryptocurrency is anchored. The RSI indicator, which shows equilibrium between buyers and sellers, has stabilized around 50, adding to the bullish outlook. This positioning lays the groundwork for bullish momentum with the possibility of a breakout above the $3 resistance.

Ripple may start a mid-term upward trend if such a narrative turns to reality. Short sellers might push the price toward the $1.5 threshold, the next crucial support level, if the $2 support is not maintained.

Forex Signals Brief Dec 30: Spanish Inflation to Increase Again in December

Posted on December 30, 2024December 29, 2024 by Skerdian Meta

This week is expected to be quiet again with New Year falling in the middle, however today we have Spanish CPI inflation for December which is expected to increase for the third month in December, showing an upward trend in Q4 of 2024.

Continue reading “Forex Signals Brief Dec 30: Spanish Inflation to Increase Again in December” →

Cardano’s Weak Interest Tilts Toward Market Correction

Posted on December 30, 2024 by Olumide Adesina

The Cardano network’s active addresses are rapidly declining, which affirms investors’ growing doubts about ADA’s ability to recover.

Cardano is now trading at $0.87, just above the critical $0.85 support level. If ADA is to regain its upward momentum and target the $1.00 mark—a significant psychological and technical barrier—it is imperative that this support be maintained. The first step in starting a recovery is flipping $1.00 into support.

Reduced activity suggests that many traders are withdrawing from the market, which leaves the altcoin with less liquidity, so this drop in participation is a worrying sign.

The token will likely have a tough task recovering from its current levels as liquidity falls. Short-term traders’ lack of activity reveals the hesitancy of the larger market, which makes a short-term recovery to key price points more difficult.

Reaching this milestone could help ADA start to recover its recent losses. Its goal is to regain a stronger position in the market by hitting $1.25. Restoring investor confidence at this level would be a major step.

However, Cardano’s price trajectory might suffer significantly if the $0.80 support is lost. The bullish outlook would be invalidated by a decline to $0.75 or less, which might prolong losses and increase investor skepticism. It’s critical to stay above this support to prevent a protracted decline.

Meanwhile, Charles Hoskinson, the founder of Cardano (ADA), believes that by 2025, Input Output’s Lace lightweight wallet will be a “driving force” in the ecosystem. This occurs as users switch to Lace from the well-liked Nami wallet.

Unknown Bitcoin Whale Awakes After 11 Years Of Inactivity

Posted on December 30, 2024 by Olumide Adesina

Whale Alert data revealed a dormant Bitcoin address holding 357 BTC— worth close to $34 million —been activated after 11 years of inactivity.

Dormant addresses, particularly those with sizable Bitcoin holdings, frequently garner attention because they might be associated with early adopters of the cryptocurrency.

The holder may think the market is now favorable for selling or making additional investments given the sharp increase in Bitcoin price this year. It’s possible that the holder is transferring money for security reasons or just found the wallet’s keys again. Nevertheless, the precise cause of the awakening is still a mystery.

Bitcoin whales typically use exchanges to move their cryptocurrency when they plan to keep it for a long time. Storing a lot on an exchange is riskier because cryptocurrency hackers target wallets the most.

As of this writing, Bitcoin was trading at $93.7K as its momentum slowed following a record high of $108,316 on December 17. The largest cryptocurrency is teetering on a December decline, its first monthly decline since September. Expectations for cryptocurrency prices in the last few days of December are still high, despite this.

Santiment claims that if whales maintain their robust accumulation trend despite the low trading volume, the absence of retail participation could result in at least one last significant, unanticipated 2024 pump while retail pays little attention.

XRP Melts To $2 Support Line Amid Strong Dollar

Posted on December 30, 2024 by Olumide Adesina

Ripple-based tokens melted towards the $2 support line as risk appetite dipped amid a stronger dollar that weighed down global currencies and assets, including Bitcoin.

Price Action

This positioning lays the groundwork for bullish momentum with the possibility of a breakout above the $3 resistance. Ripple may start a mid-term upward trend if such a narrative turns to reality.

Short sellers might push the price toward the $1.5 threshold, the next crucial support level, if the $2 support is not maintained.

Historically, altcoin has had a strong negative correlation with the greenback. The Dollar Index compares the dollar’s strength to other major fiat currencies in a bullish run.

The dollar’s strength mostly precedes President-elect Donald Trump’s inauguration in late January, when he has pledged several policies to boost the economy in the years to come. In contrast to cryptocurrencies, dollar-denominated assets gain appeal when the dollar appreciates.

Investors prefer traditional investments like U.S. treasuries, which provide returns when the dollar is on a bullish path

The market’s implausible response to macroeconomic policy uncertainties is the cause of recent selloffs. Notwithstanding U.S. inflation readings are nearly at the 2 percent annual benchmark, the Fed projects higher readings in the future.