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• David Schwartz argues XRP’s price must rise to facilitate efficient high-value payments, despite investor frustrations with its modest 92% increase since 2017.
• XRP remains widely available with low fees and fast confirmation, but it has yet to achieve mass adoption for payments.
• Schwartz acknowledges broader industry challenges, including regulatory hurdles, as factors hindering the integration of digital currencies into traditional financial systems.

David Schwartz, Ripple’s Chief Technology Officer, once again defended his views on XRP pricing and its role in the payments ecosystem. Responding to an investor’s question about the token’s stagnant price performance since 2017, Schwartz elaborated on why the token has not yet lived up to its full potential in the world of payments, despite its many advantages.

In a conversation from 2017, Schwartz had stressed that XRP’s price needs to rise to fulfill its role as a medium for high-value payments. According to him, the cost of a $1 million transaction is still $1 million, regardless of whether the token trades at $1 or $1 million. However, he added that a higher price would allow for cheaper and more efficient large transactions by reducing the market impact.

Back in 2017, XRP was trading between $0.17 and $0.28. Fast forward to 2024, and it now trades at approximately $0.54, reflecting a modest 92% increase. In contrast, Bitcoin has soared by over 500% during the same period, leaving many Ripple investors frustrated. Some sarcastically commented that the Ripple token is still “dirt cheap,” despite Schwartz’s previous comments that the token would not stay low if it were to succeed as a global payments asset.

In his response, Schwartz stood by his original argument that higher XRP prices make large-scale payments more practical by reducing market disruption. Whether the token trades at $1 or higher, he emphasized that the fundamental economics of the transaction remain the same.

XRP is Widely Available, but Adoption Remains Limited

An XRP community member recently criticized Schwartz, accusing Ripple of failing to position XRP as a major player in payments due to its low price. Despite this, Schwartz pointed out that the token possesses several unique qualities: it is widely available, has low transaction fees, and offers rapid confirmation times. These characteristics make it an ideal cryptocurrency for payments.

However, Schwartz acknowledged that XRP, like most other cryptocurrencies, has not yet gained widespread adoption for payments. He clarified that this is not due to XRP’s flaws but rather a broader industry challenge, with digital currencies struggling to integrate with traditional financial systems.

He did not dive into specific reasons for this slow adoption, but many speculate that regulatory hurdles and the complexity of integrating digital currencies into established systems are contributing factors.

Despite XRP’s slow price growth, Schwartz remains confident that its utility in payments will grow as the crypto industry matures and more payment solutions adopt digital currencies.

Ripple’s CTO remains optimistic about the Ripple token’s future, reiterating that its current price does not define its potential in the world of payments. However, slow adoption remains a challenge, requiring patience from both Ripple and its investors.

• FOUR predicts SHIB could surge to $0.00003260, a 71% increase.
• Shiba Inu has already surged 34.36% in the past month.
• The meme coin sector has grown 2.9% in 24 hours, with SHIB leading the charge.

The bullish excitement around Shiba Inu (SHIB) continues to gain momentum. Recently, market analysts have highlighted the coin’s strong performance and the possibility of a significant price surge. In particular, a pseudonymous analyst known as FOUR has caught the community’s attention with bold predictions, suggesting SHIB might hit new highs sooner than expected.

As of today, Shiba Inu remains the 13th-largest cryptocurrency by market cap. In the past month, it has seen a 34.36% increase, standing out as one of the top performers, only trailing behind Dogecoin in the list of major meme coins.

The Shiba Inu rally has led to a crucial moment for its supporters. The asset is approaching a significant resistance level at $0.00002169. This price point was tested and rejected during SHIB’s late September surge, but analysts argue that a break above this resistance could lead to much higher gains. In particular, FOUR believes SHIB could quickly advance to $0.00003260, marking a 71% increase from its current price.

In his latest tweet, FOUR cited the “super meme coin cycle” as a key driver behind this rapid move. He indicated that Shiba Inu’s weekly chart reflects a strong bullish momentum, which could drive the asset upward, overcoming the current barriers. He pointed out that SHIB closed the last week with a positive candle, inching ever closer to the resistance point.

Shiba Inu’s market cap has risen by more than 43% in the last month, reaching $11 billion. During this period, the asset temporarily surpassed Avalanche to secure the 12th spot among cryptocurrencies before experiencing some consolidation. Currently, SHIB is trading near $0.00001912, reflecting a 34.36% increase over the past 30 days.

Meme Coin Sector Boom Along With Shiba Inu

FOUR isn’t the only voice predicting a continued surge for Shiba Inu. Mario Nawfal, a well-known crypto enthusiast and founder of IBC, also expressed optimism about SHIB’s performance. He highlighted how the meme coin sector, despite the broader cryptocurrency market’s mixed signals, continues to thrive. This sentiment reflects the resilience of meme coins, which have attracted increasing attention, especially with the ongoing cycles in the altcoin market.

The meme coin sector overall has shown impressive growth. Over the past five days, the top five meme coins have appreciated by an average of 30%, with SHIB taking a leading role. The sector itself has grown by 2.9% in just the last 24 hours, and now boasts a combined market cap of $65.3 billion.

As Shiba Inu continues to approach key resistance levels, many eyes are on this asset, hoping for the next breakout that could propel it further up the ranks of top cryptocurrencies.

• Elon Musk mentioned XRP for the first time during a viral video, sparking conversation in the crypto community.
• Musk emphasized that cryptocurrencies like XRP promote individual freedom but stopped short of endorsing XRP.
• The XRP community is hopeful that Musk’s comments could signal a change in the asset’s market trajectory.

In a viral video making waves on Crypto Twitter, famous entrepreneur and owner of the social media platform X, Elon Musk, directly mentioned XRP for the first time. His comments have stirred conversations across the cryptocurrency community, with many wondering if this could impact the token’s future.

During the video, Musk was asked to give his opinion on whether the token could be integrated into the global financial system, especially given the U.S. Securities and Exchange Commission’s (SEC) aggressive stance on cryptocurrencies. Musk’s response was measured but impactful. He acknowledged the role of cryptocurrencies like Ripple, calling them valuable assets in the fight against centralized control.

While Musk stopped short of endorsing XRP, his comments are notable. He stated, “This is not an endorsement or lack of endorsement for XRP,” but he did emphasize that the nature of cryptocurrencies, including Ripple, promotes individual freedom. This statement has left the crypto community abuzz, given Musk’s influence on the market.

Musk and XRP: A Turning Point?

This marks the first time Elon Musk has mentioned XRP publicly, which is significant for the seventh-largest cryptocurrency by market cap. The Ripple community has long sought Musk’s attention, with hopes that his backing could propel the token the way his endorsement boosted Dogecoin (DOGE) to an all-time high in 2021.

Interestingly, while Musk has shown loyalty to DOGE, and to a lesser extent Bitcoin (BTC) and Ethereum (ETH), his engagement with XRP has been limited. In October 2022, Musk reacted to the news about Ripple’s case against the SEC, expressing surprise when the agency released drafts of William Hinman’s Ethereum speech to Ripple. Despite his “No way” tweet and a later approval of a podcast discussing Ripple’s partial legal victory, Musk had never directly mentioned the token, until now.

The Ripple community is eager to see if Musk’s influence could push the token higher, especially in the ongoing battle with the SEC.

Ripple has been a focal point of SEC scrutiny, but it remains resilient. With a current market cap of over $28 billion and a daily trading volume surpassing $1.4 billion, the token is far from fading. Musk’s recognition adds to a list of developments that could boost the token’s profile globally.

Whether Musk’s mention of XRP has a lasting impact remains to be seen, but his comments have undoubtedly added fuel to the ongoing conversation about the future of cryptocurrencies in the global financial system.

• Peter Brandt highlighted a bullish trend reversal in Ethereum, based on an Inverted Head and Shoulders pattern, signaling a potential sustained breakout.
• Ethereum briefly surpassed the $2,745 resistance, reaching a new October high of $2,765 with a 5% gain.
• Analysts predict a potential target of $3,900 if the breakout holds, with support levels at $2,117 and $1,932 in case of rejection.

Ethereum (ETH), the second-largest cryptocurrency, has turned heads once again with a confirmed bullish trend. This development was recently highlighted by renowned trader Peter Brandt, who has over 50 years of experience. Brandt, known for his accurate chart predictions, took to X (formerly Twitter) to share his insights on ETH’s price trajectory.

Brandt pointed out a key technical formation on Ethereum’s daily chart—a developing Inverted Head and Shoulders (H&S) pattern. This pattern is widely regarded as a reliable indicator of bullish reversals in technical analysis. It consists of three price dips, with the middle one being the lowest (the “head”), flanked by two higher lows (the “shoulders”).

According to Brandt, Ethereum is gearing up for a sustained breakout, provided it can hold above a crucial resistance level. The chart shows a neckline, a trendline connecting the peaks between the shoulders, currently sitting around $2,745.

In a promising move, ETH briefly surpassed this line, rallying to a new October high of $2,765. This 5% daily gain is a significant rebound, especially after ETH’s recent underperformance against Bitcoin.

Ethereum is currently trading near $2,736, just below its recent peak. The daily trading volume has increased by 18%, highlighting robust market activity. Its market capitalization has reached $329 billion, representing 19% of the overall cryptocurrency market.

This reversal signals a shift in sentiment after weeks of sideways movement. Traders and investors are keenly watching for Ethereum to hold above $2,745, which could confirm the breakout. If successful, ETH could aim for higher price targets, potentially around $3,900, according to analysts.

Despite the positive outlook, Brandt revealed that he is still “flat in ETH,” meaning he hasn’t opened a position yet. His decision to stay on the sidelines indicates caution, possibly waiting for further confirmation before entering the market.

Other analysts echo Brandt’s cautious optimism. Jacob Canfield, a prominent technical analyst, noted that ignoring Ethereum’s bullish signals could be risky for traders. He also pointed out that support levels around $2,117 and $1,932 could come into play if the breakout fails to hold.

What’s Next for Ethereum?

Ethereum’s bullish trend marks a significant turn in the broader crypto market, especially as Bitcoin continues to dominate headlines. However, the true test lies in ETH’s ability to maintain its momentum and surpass key resistance levels.

ETH’s current momentum depends on its ability to stay above the $2,745 neckline resistance. If it can maintain this level, analysts project a potential rise toward $3,900. However, should a pullback occur, key support levels to watch are $2,117 and $1,932.

As Ethereum pushes forward, investors are gearing up for potential gains. All eyes are on whether this bull run will take Ethereum to new heights or if caution will prevail.