Ripple Wins Allies Against the SEC and Improves XRP Price Forecast

Audy Castañeda
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<strong>Ripple Wins Allies Against the SEC and Improves XRP Price Forecast</strong>

The number of entities supporting Ripple against the US SEC has reached 12.

The past week was eventful for Ripple, as the San Francisco-based company saw its allies grow in the lawsuit against the United States Securities and Exchange Commission (SEC), leading to speculation that XRP might finally explode.

The lawsuit between the SEC and Ripple has been underway since December 2020, but any chance of a resolution any time soon is shrinking after both parties opposed each other’s motion for summary judgment.

The SEC recently requested an extended deadline to respond after new entities filed amicus curiae briefs to be part of the case. Now the number of entities supporting Ripple has increased to 12.

The latter two are as follows: a publicly traded crypto exchange Coinbase, and a Wyoming-based decentralized autonomous organization, VeriDAO.

As reported a few days ago, Coinbase, one of the largest cryptocurrency exchanges by trading volume, has joined groups arguing that the US SEC case against Ripple threatens the cryptocurrency industry.

Even the influencer BitBoy, who had criticized the XRP community in the past, is now trying to get in on the action.

He recently shared screenshots showing that he applied for the position of Director of Strategy and Operations at Ripple Labs. In addition, he called himself Supreme Leader of the XRP Army, stating that he had changed his mind about the community.

However, the SEC does not appear to be backing down on the case. Many Ripple supporters believe that asking for an extension is another delaying tactic by the regulator.

Ripple XRP Whales in Action

Meanwhile, various interested parties are closely watching the case. With Ripple’s chances of winning now higher, XRP whales have moved more chips in recent days.

Recent data shows that on October 29, 40,614,705 XRP worth $19.29 million was moved from BitStamp to an unknown wallet.

Around the same time, another wallet transferred 30,000,000 XRP worth $14.25 million to BitStamp. It is unknown if the purses belong to the same person.

In recent days, the number of wallets with between 1 and 10 million XRP has also increased, suggesting that the whales could be preparing for the outcome of the case.

However, XRP continues to trade within the range, even with a 4.6% gain in the last seven days. But there are several optimistic predictions about its performance in the coming months, especially after it broke the 200 moving average.

Currently, it is trading at $0.49 and many expect it to break the 50-cent barrier soon. But even so, it would be 80% below its all-time high of $3.40.

By Audy Castaneda

A Survey Reveals that Over 50% of US Citizens View Bitcoin as the Future of Finance

Alexander Salazar
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<strong>A Survey Reveals that Over 50% of US Citizens View Bitcoin as the Future of Finance</strong>

According to 25% of the respondents, inflation and the economic situation led them to become interested in crypto assets. The relationship between politics and cryptocurrencies is also crucial, as 37% of those US citizens surveyed acknowledge reading candidate positions on crypto.

According to a survey conducted by the Bank of America (BoA), young people are increasingly interested in cryptocurrencies. Amid the backdrop of the US midterm elections, inflation, and the looming economic crisis, US citizens see them as part of the future.

Why More Americans Learn about Cryptocurrencies and Invest in Them

In the above online research, 2,029 adults answered questions between October 6th and 11th. Although that survey reveals that 49% of US citizens know cryptocurrencies, the rate rises to 70% between 18 and 34 years old.

There are also disparities about minorities, as Americans not only know crypto assets but also own them. Bitcoin (BTC), Ether (ETH), and USD Coin (USDC) are among the cryptocurrencies 25% of the respondents already have. Meanwhile, another 25% say inflation and the economic situation led them to become interested in them.

Clearly Stated Regulations to Make the Future of Bitcoin Possible

The relationship between politics and cryptocurrencies was another aspect considered in the survey conducted by the BoA. Before making their choice, 37% of the respondents apparently acknowledge reading the candidate positions on crypto assets.

That becomes an electoral problem, as 89% of those surveyed plan to vote for the regulation or lack of regulation. The study also considers other US-specific issues like gun control, abortion rights, and the economy.

Concerning economics, 81% of the respondents want clearly stated cryptocurrency regulations, with an insignificant difference between Republicans (77%) and Democrats (88%). Since crypto issues go beyond partisan positions, all candidates may have to address them in the midterm elections.

The most prominent figure in the study is that 53% of those surveyed believe that cryptocurrencies are the future of finance. Besides, 44% of those US citizens expect to have crypto assets in their wallets.

Most US Citizens Are Familiar with the Cryptocurrency Industry

According to 57% of the researchers in charge of the study, investing in cryptocurrencies will go through clearly stated regulations. The results indicate that US citizens have become increasingly interested in crypto assets.

The only missing aspect is a tailor-made regulation to convince those still indecisive. That proves that the framing practices related to cryptocurrencies are the next subject all players must discuss.

Meanwhile, Bitcoin is trading at around USD 20,753 and has accumulated a 2.6% loss over the last 24 hours. While its daily trading volume is above USD 356.18 billion, its market capitalization is about USD 398.47 billion, according to CoinGecko.

Investors should research Bitcoin before buying it to know its all-time high, behavior, and possible future price. That will help them make better trading decisions and reduce the risk of losing money. However, it is only a matter of time before seeing where the market will take the pioneering cryptocurrency.

By Alexander Salazar

Altcoin Season in Mid-November? The Analyst Maps Month-End Targets for Top Cryptocurrencies

Audy Castañeda
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<strong>Altcoin Season in Mid-November? The Analyst Maps Month-End Targets for Top Cryptocurrencies</strong>

The market is set to show its final version of a breakneck bull run in the coming months.

The global cryptocurrency market cap turmoil nearing $1 trillion has sunk investors’ cryptocurrency wallets and now continues to put pressure on traders during crypto winter.

Despite having undergone several shake-ups, including CPI data and US stock market correlation, the extended crypto winter now appears to be bringing smiles to crypto users, as the market is ready to show its final version of a dizzying bull run in the coming months.

The major cryptocurrencies in the market are gaining ground for a major bullish rally: users and traders are now shifting their focus from the Fed’s recent 75bp interest rate hikes on Nov 2.

Bitcoin Price Analysis

According to a famous cryptocurrency analyst, Michael Van De Poppe, CEO, and founder of Eight Global, significant digital assets like Bitcoin and Ethereum could reach immense heights in the coming months.

The analyst has forecast the price target for specific cryptocurrencies, as the market shows a bullish recovery, despite the aggressive tone of the Fed’s decision to rein in the exponential rise in inflation.

Michael Van De Poppe is very bullish on Bitcoin, as he believes that Bitcoin could hit $30,000 soon. Looking at the daily price chart, Bitcoin has reached a weekly high of $21,480 and is currently hovering around the EMA-100 trend line with a value of $21,237.

A break above the upper limit of its Bollinger band at $22,500 could push Bitcoin to its strong resistance level of $25,000. The MACD line is also trading in a bullish region, which supports the current price movement.

Ethereum Price Analysis

Ethereum showed a significant bounce to the upside, as it broke out of its consolidated $1,400 zone. According to the analyst, the price of ETH could trigger significant spikes on the price chart, and reach $2,500 in just a few months.

Ethereum has steadily increased buying pressure in recent days due to the upcoming “Shanghai” upgrade. Ethereum is currently trading at $1,625 and is showing signs of further bullish momentum as the SMA-14 rises to the 64 level.

ChainLink Price Analysis

ChainLink is currently enjoying a huge surge on its price chart as it is up over 35% in the last two weeks and is currently trading at $8.6.

Michael Van De Poppe has predicted that the price of LINK could skyrocket by the end of 2022 and reach a high price level of $15.

BNB Price Analysis

Van De Poppe predicts that the Binance coin will generate a profitable return as it could hit the short-term target of $500.

BNB is currently trading at $350 and is targeting a breakout above the $402 price.

By Audy Castaneda

Alert about Fraud with Cryptocurrencies in the NFL

Audy Castañeda
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<strong>Alert about Fraud with Cryptocurrencies in the NFL</strong>

The complaint from Twitter users began with an alleged giveaway by Michael Saylor. After the uncertainty generated by the alleged message from the CEO of MicroStrategy, a message appeared with the image of the owner of Twitter, Elon Musk.

Investments in cryptocurrencies have earned a reputation as a mechanism to accumulate fortunes, but scammers also want money; for that purpose, they have designed a scheme through social networks to attract victims interested in this type of investment.

There are many fraudulent posts on social media outlets promising bitcoin giveaways. Some of these scams also include fake celebrity accounts promoting the giveaway to lure people in.

During the afternoon/evening of Saturday, November 5, fans of the National Football League of the United States reported alleged scams from the official Twitter account of the NFL. This type of scam is known as social media cryptocurrency giveaway scams.

The complaint from Twitter users began with an alleged giveaway by Michael Saylor via Twitter that read, “Biggest giveaway. Crypto of $100,000,000.”

After the uncertainty generated by the alleged message from the CEO of MicroStrategy, a message appeared with the image of the owner of Twitter, Elon Musk. In the midst of this scenario, the crypto community sounded the alarm.

The NFL, one of the most popular sports in North America and Latin America in general, is currently in the 9/18 match day, and Latino support is always latent. This is why NFL lovers are warned against this type of scam.

Alerts in Similar Cases

In the United States, government reactions to cases of cryptocurrency scams have not been long in coming. For example, a couple of days ago, Florida Attorney General Ashley Moody on Wednesday issued an alert to Floridians via Facebook, Instagram, and other social media platforms.

“The lure of quick profits has drawn millions to cryptocurrency trading, with many new investors joining the market on a daily basis. However, where there is an opportunity, there are also scammers, who successfully provoke victims early and then entice them to transfer their profits to fraudulent trading platforms. We are seeing an increase in reports of cryptocurrency bait and switch scams,” Moody said. The idea, of course, is to prevent citizens from falling for these kinds of traps and losing their money.

How to Be Protected from Crypto Scams

Three recommendations have been highlighted by Moody, which are listed below:

First, always beware of unsolicited investment offers.

Second, know that if scammers ask for payment in cryptocurrency for the right to recruit others into a program and promise rewards paid in cryptocurrency, it is a scam.

Third, beware of fake cryptocurrency trading platforms that may look like legitimate ones.

By Audy Castaneda

Shiba INU Ready for Wider Price Action

Audy Castañeda
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<strong>Shiba INU Ready for Wider Price Action</strong>

The recovery has greatly affected the entire crypto space, including Bitcoin, which is trading above $21,000.

The price of Dogecoin has increased massively in the past week, surging over 165% to reach levels traded before the market crash in May 2022. Likewise, the rally has hit the entire crypto space hard, including Bitcoin, which is traded for over $21,000.

Ethereum price is speculated to rise above $1700 in the coming days, offering room for altcoin growth.

Shiba Inu (SHIB) Price Analysis

The Shiba INU (SHIB) price is very close to posting some great price action in the coming days, as the value climbs beyond consolidation. The rally is yet to be validated, as the retest could eventually drag the price back into the pattern, signaling a resumption of a downtrend.

Shiba INU largely tracks DOGE price action, allowing for a price rally above the extended consolidation. However, the bulls are looking to push the price significantly higher and since the buying pressure has increased slightly, there is a chance of a rally. With a jump, SHIB price could initially recover levels above $0.000013, and move towards the $0.000015 target very soon.

Shiba INU (SHIB) price appears to be quite bullish in the short term, as the RSI is trading in the mid-ranges, and attempts to move higher. Meanwhile, the MACD remains neutral, as does the bullish power. Therefore, the uptrend is expected to change anytime from now. However, ADX is quite bullish and hence the rally is expected to regain its strength and climb higher.

Analysts’ Reactions

It is worth recalling that, by the end of October 2022, cryptocurrency analysts had turned bullish on SHIB. Revival Giant, one of the analysts who predicted the latest drop in Bitcoin’s ATH and Earth, predicted that SHIB will rally higher on the reversal of the DOGE/SHIB trading pair. The DOGE/SHIB pair has been strong amid considerable pomp in the biggest meme coin.

Notably, meme cryptocurrencies, such as SHIB, have fallen much faster than Bitcoin and Ethereum, in part dragged down by a series of negative economic news in recent months. Inflation is hitting a 40-year high of 8.2% in the United States, the world’s largest economy, and interest rates are rising.

Despite its volatility, observers remain optimistic that SHIB, created as a satirical online currency, will see significant growth in the next three years.

The Shiba Inu price is forecast to end this year at $0.00001308, rising 30% from the current price of $0.00001009. The meme cryptocurrency should climb to $0.00001403 by the end of 2023, before soaring more than 135% to $0.00002377 by the end of 2025.

By Audy Castaneda

The Price of Bitcoin Might Rise Significantly by the End of 2022

Alexander Salazar
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<strong>The Price of Bitcoin Might Rise Significantly by the End of 2022</strong>

The price of BTC stabilized above USD 20,000 before a sharp rise above USD 21,000, confirming the bullish direction of the crypto market. Although November and December have historically been bearish, Bitcoin might increase to between USD 20,500 and USD 26,500.

Over the last two weeks, the price of Bitcoin (BTC) has experienced another significant increase, reaching above USD 21,000. The crypto market seems bullish, which might influence the pioneering cryptocurrency by late 2022.

Bitcoin Has Risen Significantly over the Last Two Weeks

After hovering between USD 19,000 and USD 20,000, the value of Bitcoin has increased considerably over the last two weeks. It broke out of that area in late October, rising above USD 20,000 and moving out of the stabilization phase.

Then the price stabilized above USD 20,000 during the last few days before another sharp rise above USD 21,000. That confirmed the bullish direction of the crypto market, where most altcoins have achieved more significant gains than Bitcoin.

The Price of Bitcoin May Continue Rising in December

There were two considerable increases in the value of Bitcoin over the last two weeks. That happened long after it stabilized and experienced a few changes, indicating a stronger bullish trend over the next few weeks.

The crypto market has outperformed the stock markets, suggesting that cryptocurrencies will become more independent from the financial markets. Besides, the rise in prices may continue in November and December as the negative impact of interest rate hikes has decreased.

The Bullish Trend of Bitcoin Might Continue until Late 2022

The predictions about Bitcoin for late 2022 might be excellent if the price of cryptocurrencies continues to rise. The bullish end of the year becomes increasingly likely, as the rise to over USD 21,000 confirmed the trend.

The price of Bitcoin might test the USD 25,000 zone this year if it continues rising steadily. If it breaks above that mark in December, it might even reach USD 30,000.

Despite a Possible Bearish Trend, Bitcoin Might Rise by 30%

The price of Bitcoin might accumulate another 30% over the next few weeks if it keeps rising steadily. At the end of the year, it might reach between USD 25,000 and USD 30,000.

Since November and December have historically been bearish months, there is no guarantee of a significant increase. In other words, considerable drops contrary to the trend seem unlikely over the coming weeks. However, the price of Bitcoin might be between USD 20,500 and USD 26,500 in late 2022.

It Is Worth Investing in Bitcoin in the Short Term

The optimistic predictions about Bitcoin for late 2022 indicate it might be worth investing in the cryptocurrency now. An increase in the price of the pioneering cryptocurrency in the short term might occur over the next few weeks.

However, it should also be worth buying Bitcoin in the long term, as its price might rise sharply again in 2023. In that regard, the predictions about its price also seem very optimistic for next year.

Meanwhile, Bitcoin is trading at around USD 21,239 and has accumulated a 2.2% gain over the last week. While its daily trading volume is above USD 294.38 billion, its market capitalization is about USD 407.78 billion, according to CoinGecko.

By Alexander Salazar

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